Smells Like Teen Silver (Especially In The "Market" This Week)
If we're going down into the teens for one last time, then...
(by Half Dollar) We're close to finding out if I'll be right about my call.
I will be the only person who will have been right about that, of course.
If you need proof, just read my articles in chronological order starting from late January of this year.
Regardless, let's take a moment to review current silver "market" conditions.
Silver has to overcome this:
A Cartel that has unlimited money and therefore time on its side.The ability to rally without a capitulation.Silver will be fighting these things every step of the way this week:
Not many market and economic "news" and "events" of real significance.Future fiscal "stimulus" that's more or less priced-in.Eyes that will generally be off of the markets this week, sans a crashing stock market.A Cartel which can easier strong arm a lightly traded market, and there's no market the Cartel likes to strong arm more than silver.In the event of a crashing stock market, gold & silver will have to fight a "whole of narrative approach" takedown (my term, for lack of a better term).The Fed doing its stupid pre-FOMC "radio silence" this week, leaving all of the chatter to the Fed's Analysts, Apologists, Armchair Quarterbacks, Enablers, Experts, Gurus, Pundits, Propagandists, Sympathizers and Worse.If the technicals matter, silver must fight its own technicals, which, among other things, begin with a bearish opening below silver's 200-day moving average.A Cartel that had already been angry, but now is mad.The Fed, the Federal government, the Ministry of Plenty and the Ministry of Truth will likely use falling commodities prices, including falling prices of gold & silver, which, in addition to being money, are in fact commodities, as a type of "transitory inflation" wild card for next week's FOMC Meeting.Etcetera, Etcetera, Etcetera.I'm sure there are other things silver has to fight this week as well, but that's just what is coming to the top of my head at this very moment in time.
What does silver have going for it right now which could take us "to da moon" this week?
Uhh.Hmm.What do people think silver has going for it right now?
A gazillion Chart Huggers (who have all been wrong since late January).A large group of Phonies, Pseudo-Advocates and Wannabe Contrarians who think they can beat the Cartel in the Rigged Casino (when they can't).Said Phonies, Pseudo-Advocates and Wannabe Contrarians who do more pumping of worthless penny stocks in the rigged casino than they do actual advocacy for silver (which isn't really advocacy at all but brown-nosing of Liars, Shills and Sleazy Opportunists, and hopefully, for the sake of the Phonies, Pseudo-Advocates and Wannabe Contrarians, paid brown-nosing).Rally time for silver?
Um, yeah.
Good luck with that.
I have said all along, my downside target is where silver's price reconverges with gold's:
Right now, that puts the downside target of silver at under $23, which would be one of those ultra-rare, wrong calls on my part, but that's assuming gold stays at the same price level, so if gold moves lower, and since most of the things that were said about silver above can be equally said about gold, silver's downside target will also move lower.
For example, if gold triple-bottoms, that would put silver at a 19-handle.
It has been awkward, indeed:
Silver making gold look all weak like that.
Of course, with so much Kool-Aid being served in the Echo Chamber, silver's still not fully off of its sugar high:
Pro-tip: They're called "memes" for a reason, and the foundation of your financial education should not be built with them.
Side Note To The Pro-Tip: If your education is by way of meme and by the propping up of, at best, various Gamblers in the Rigged Casino, along with the propping up of their worthless penny stocks, then the Brainwashed Masses, the Walmart Zombies and the Sheeple, all of whom are already incapable of learning, will never get it.
Note To Self: Start an "exploration company", call it "Mineral Extraction Associates", change its name to "DescubriPlata", offer a "Legendary Billionaire Investor" a so-called "private placement", with warrants and a bunch of other big, fat & juicy profit stuff, get said Legendary Billionaire Investor to say a couple of sweet things about my company, change my company's name to "Silver Discovery Triple Associates Consortium", go by the common name of "Silver Discovery Associates", get listed with the ticker symbol "STAC", pay Phonies, Pseudo-Advocates and Wannabe Contrarians to interview me and pump my penny stock in the rigged casino, and then laugh at the Brainwashed Masses, the Walmart Zombies and the Sheeple all the way to the bank as my deal with the "major" falls through, oh geez, oops, and my company ultimately goes into bankruptcy, only to cease to exist entirely, or to be bought-out by the next hottest explorer.
Like, do you even wash, rinse and repeat, bro?
Palladium:
That doesn't look good.
Platinum:
I mean, sure, I'd like to buy Wifey more platinum, but I'm a Silver Bug, so I'm really hoping my next purchase goes to the very thing they fear more than any other thing in the entire world.
You know that scene in that movie where that person is dangling off of the edge of that dang cliff?
Ahh, the suspense.
Crude oil is finally correcting:
So why exactly would the Cartel not go behind the woodshed and beat the living daylights out of silver, again?
As expected, expected and expected, yield is dropping on US government toilet paper faster than people are dropping of starvation or dropping from lead bullets derived of starvation:
I hope that statement was uncomfortable, too, because the world has gone mad, and on top of that, the world is now going evil, very evil, and that's especially true about our "elected" "leaders" and career public "servants", and making matters worse, there's the whole stupid, "we gotta wake people up" craze, which is just a front for "wussies who are too scared to actually do anything about it".
Of course, there is only one single thing to do, for there is only ever one single thing to do, one single way to end this madness in general, and, more importantly, to end the manipulation:
Because we can't take the fight to them, much less in a Rigged Casino, and therefore, if we want to win the war, we must Starve the Beast.
That, is the only way.
The kiddie rollercoaster is operating again:
Oh, how cute.
I used to call this "The Heartbeat of America Index":
With the most recent changes, however, including the addition of Gamestop, I can't really call it that anymore.
Not that I'll spend a whole lot of time thinking about what to call it next, either.
You see, time is short, especially for the dollar.
Very, very short.
Thanks for reading.
Stack accordingly,
Paul "Half Dollar" Eberhart
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