https://www.google.com/search?q=silver+slam+a+rama&oq=silver+slam+a+rama&aqs=chrome..69i57j33.10148j0j3&sourceid=chrome&ie=UTF-8

Finished the week at .9564.  Did break over a dollar to 1.01 but…

My other boy wonder Aurora Cannabis (ACB) closed at 6.41 hasn’t done nuttin since I bought it a few months ago.

The Commitment of Traders Report

Silver

*The large specs increased their long positions by 9,680 contracts and reduced their shorts by 7,656 contracts.

*The commercials reduced their longs by 4,116 contracts and increased their shorts by 12,665 contracts. 

*The small specs reduced their longs by 651 contracts and decreased their shorts by 96 contracts.

The commercials are net short 76,138 contracts.

Gold

*The large specs increased their long positions by 2,346 contracts and reduced their shorts by 3,403 contracts.

*There was no change in the commercials longs but they increased their shorts by 10,431 contracts.

*The small specs increased their longs by 4,849 contracts and increased their shorts by 167 contracts.

The commercials are net short 287,839 contracts.

The Gold Cartel can’t help themselves. Same drill over and over again. It appears the only way the silver market will ever go up in our lifetime is a JPM related Commercial Signal Failure. If the gold physical market overpowers the cabal, then that is what we ought to get in silver.

The odds of that occurrence in silver are probably a good deal higher than most people think.

http://futures.tradingcharts.com/marketquotes/GC_.html

I sure hope you’re right. You’ve been in the mix and know its been a long time suffering through the fits and starts.

Hopefully this is the real deal in terms of a rally.

Ya…they are going to lose this time.

Cheers

https://cftc.gov/dea/futures/deacmxlf.htm

They’ve been doing that for awhile now.

So many people can’t see past the tips of their nose. As if a 2.1% second-quarter GDP print eliminates recession risk. Back to 1945, the median and average real growth was 2.4%, and 3.2% respectively just as the downturn was about to get going. How about that?

Not to mention another Houdini act. Strip out the effects of the savings rate drawdown and the sharpest government spending run-up since the Great Recession, and real GDP growth was FLAT in Q2!

3 days would fit perfectly with the Fed announcement on Wednesday. Whether we rally from there is anyone’s guess.

Job’s report Friday will also come into play.

Funny – I’m conditioned to look for this stuff that shouldn’t even matter.

Under Ewave I think we are in what can be called a 2nd wave dn of the 3rd wave up…that is we correct the move 22 Apr to 25 June ’19.

This the C wave dn…so far it has been pretty tame…time wise A was 9 days, B the spike up was 9 days…so far this is the 6th day..so maybe 3 more days dn/sideways….that’s the theory….

Barring some miracle close for NEM, they’ll paint their bearish chart.

Hoping this pullback doesn’t get too nasty in the pm sector.

The dollar is on fire and silver has lost its mojo in the last couple of days. Can’t really trust a post Fed .25 rate cut rally because that’s baked into the cake unless it’s accompanied by some really dovish language.

Not sure how we resume a rally unless the USD reverses course and rates start to come down again. Seems to me the rest of the world is content to attack our economy by letting dollar strength destroy exports.

Re Nem they’re trying to paint a Hammer top/reversal on the Monthly chart.

Short of a miracle we will get a 4 week Key Reversal to the downside today…that will scare away quite a few TA types.

Meanwhile their beloved SM cruises on higher, making yet more record Hi’s and the Dollar is still King.

hui, jnug, wheaties, impact, first majestic….  others…

that. would be a. rather bullish event.

HORSE. CRAP GDP–2017–2018–

Trump’s “Greatest Economy Ever” Revised Away By Annual Data ‘Corrections’

 President Trump’s much-heralded 3.0% GDP growth in 2018 – “greatest economy ever” – has been slashed by annual revisions.

https://www.zerohedge.com/news/2019-07-26/trumps-greatest-economy-ever-revised-away-annual-data-corrections

we all needed that morale booster…I gotta keep reminding myself that currently “all roads lead to gold”…or “the inevitability of gold”

“Q2 GDP Smashes Expectations As Personal Spending Soars Most Since 2014”, was designed to spook the PM specs out of there positions.

a) bullish open

b) slapdown

c) modest rebound

d) lather, rinse, repeat

all we need is bill Murray and a marmot.

Shares don’t seem to believe these gains are going to hold.

GDX down, HUI down. A lot of the juniors down.

Guess it was time to let some air out of the pm’s. Just hoping not too much.

NEM leading the charge to the downside.

yet the scum by smashing NEM would have u believe that shareholders, who sweated a 6 year bear, are dumping it as fast as they can…..

The good news is that it is now a bargain, tks to the scums crazy manipulation.

We might escape further beatings today, as the Dollar has a bid and the SM is within sniffing distance of it’s all time Hi..plus Gold is below 1430.

The headline number, generating the headline “Q2 GDP Smashes Expectations As Personal Spending Soars Most Since 2014”, was designed to spook the PM specs out of there positions. The fact it did not is yet another departure from typical ‘status quo’ price management. As stated previously, we have finally reached the point physical demand is out-trumping the paper markets.

Can you imagine if the genius banker price managers in New York ever figure out they should be buyers of PM’s as opposed to sellers?

Can you imagine how much prices will go up when these idiots are forced into the market, if one still exists at such a point.

We can only dream.

As mentioned previously, once silver decidedly moves through $16.50 say good bye to the 1 handle in fairly quick order.

And then once through $21 … the genie will be out of the bottle.

Cheers

government spending boosted the bottomline Q2 GDP by 0.85%, the biggest contribution to GDP since 2009 as it climbed by a whopping 5%.

a few points by deferred Federal spending and. increased state spending..the main thing this report does. is. guarantee that the rate cut will definitely. happen–had it been a blockbuster. number then the cut wouldn’t be a certainty–so now. the Street and traders can set that [next wednesdays cut] aside…and again foucus on the REAL reasons gold should be bought…how. bout, for openers, the HIDEOUS trillion dollar spending bill that. was just approved…howz about debt. & money printing…and the greek 10 yr bond yielding less. than the u.s. 10 yr note …and all the other 172 reasons to own gold

Gold up 4.90–and. ignoring the “stronger” [cough! cough!] GDP report. and the green $–up a modest .153—THIS set-up possibly allows for a rather SUBSTANTIAL up day for G&S…we’re back to gold leading but that’s fine…gold led PMs out of the doldrums and got. it over 1350….so,  Vishnu willing, gold will lead us over the hump=1500

at least not weak enough to hammer the USD or rates.

I guess if we hold flat today it will be a victory, SM lost a few points but likely will pop right back.

Fed will cut .25 because the SM demands it, but I think it won’t be enough to satisfy the addicts.

Dlr SM bid PM offered….no idea what the No’s are nor probably are the scum Algo’s….they just know it is 8.30 am….