Everybody is expecting silver to drop from hereIt seems like every silver/gold analyst is expecting a big correction in gold and silver coming soon to a theatre near you. Many investors in miners have zero confidence right now that their favourite silver stocks or gold stocks are going anywhere but down.
But what if we are all wrong? What if silver takes off here and blows through 30$/31$/32$ ?
Last friday the "cartel" threw the kitchen sink at the silver market on the comex. About 1.1 billion ounces worh of silver ounces traded in one day (over 210,000 contracts x 5000 ounces per contract) and it did drop the price from 29.90 to 27.90 but the strange thing is, is that the silver price is still 28.50/ ounce this morning. Silver just does not want to go down. In the last 2 or 3 weeks 100's of millions dollars worth of silver has been trading on the comex ( which means that there has been milllions of brand new shorts flooding the comex)and yet silver is still above 28$!!!
Nobody should listen to me because the "fiat lords" usually win when their competition (monetary metals) starts to outdo their "toilet paper known as the federal reserve note" and that's because they have infinite amounts of dollars to throw at their perceived enemies of their dollar hegemony and in this case they probably will succeed again in smashing silver back into it's prison cell..or maybe not...lol Silver has been incredibly stubborn.
Don't listen to me but don't be surprised if silver explodes higher in the next few days.. Just my naive opinion and I am probably wrong..