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From Murph tonight

Posted by Richard640 @ 22:19 on January 13, 2020  

*From Trader Rog this afternoon, who owns a zillion dollars worth of physical silver, bought around $5 many years ago…

from roger on Monday

hi bill,
i just love all this positive talk! a commercial signal failure
is around the corner.
if we can just close above this level.
if we can just hold this level. you’d be crazy to be short PMs. really? baloney. in your dreams.
let’s look at the facts. gold, silver, HUI, XAU, GDX,
SIL and GLD are all in four month bear trends. look
at the charts if you doubt that.
common sense says the bears are running the
show in the short term anyway. the only reason
metals and miners went up very temporarily was
due to a dire Black Swan geopolitical event.
the COT report is horrible. 356,000 net short for
gold and 91,000 for silver.
some heavy hitters like jim rogers feel gold and
silver are going to be hit hard in 2020 for the final
bottom. jim is smarter and richer than us, and owns
a lot of both.
i still feel JPM and friends are going to cause a collapse,
dump their shorts, go massively long, and buy metals
cheap directly from the mines (which we can’t do). that
scenario makes all the sense in the world.
keynes said, “markets can stay irrational longer than
you can stay solvent”. that’s a fact.
roger in wilmington


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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.