Metals
WEALTH WATCHMAN: Are the Attacks Over?
from The Wealth Watchman, via SGT Report.com:
Well brothers, now that we’ve all seen the banks had indeed intended to ambush us, I wanted to take a moment to write a few things that I didn’t get to write last time. I think a few folks may have mistook my intent in writing that warning.
So let me be clear for everyone.
I never write warnings because I’m either 1) despondent about price action, or 2) telling you to “hit the deck” and sell your silver or gold! I’m not a trading service, and I couldn’t care less about the prospect of using silver to gain a pile of these:
The reason why I wrote it, is because I saw(with only a few exceptions) that most of the bloggers out there were writing about how wonderful silver and gold’s performance has been in 2015, with nary a breath about the banksters digging a VERY deep trench of shorts from which to counter-attack. I watched those folks, astoundingly, write that the good times were back, and that the banks were on the run “due to the fundamentals”.
When I read this stuff now(from folks who will doubtless do the same thing again next time), I literally groan.
As I watched the commercial short position climb to a Mount Everest peak of well over 300 million ounces, yet continued to read these kinds of bewildering things everywhere, I could tell that many stacking warriors were beginning to really get their hopes up. Again!
Back in September, I first wrote that I believe these price smashes aren’t what has drained our troops’ morale, so much as the “hopscotch”, happy-go-lucky, Pollyanna commentary which always insists that “the bull is back”(this time we really mean it!).
So I wrote that warning to try to mentally prepare some of our warriors, who’d thought that the worst attacks were over. I wrote it so that hopefully some folks might not celebrate prematurely. I wrote it, so that when the latest smash came, our troops’ morale wouldn’t be pounded several miles below the earth(along with the price) when the banksters fired all the heavy artillery.
I’ve told you many times, that the main thing that makes me a bit unique from all the other precious metals commentators out there, is that I’m the only one(that I know of, but if you find another, lemme know about them, I’d love to grab a beer with them sometime!) who isn’t cheering for higher dollar prices. Rather, I’ve come to literally embrace the downtrend and the price smashes, and I mean it.
That is not hyperbole!
While others are reading the charts, kissing their lucky rabbit’s foot, and wishing for price breakouts, I’m cheering for new lows in Comex silver! I said this in my last warning about likely, imminent price smashes(which also was correct), as well as in several older series, yet, few seem to have really latched onto the thesis confidently.
