Hopefully everyone is able to ride out the current manipulation thats occuring in the Gold and Silver markets as it seems things may be about to change ....
"I’m left with a sinking feeling that things are coming to a head, so to speak, and all that’s been missing to this picture is the exact timing of the culmination.
The timing, however, I now believe is very closely tied to this; illustrated by the work of Adrian Douglas, GATA consultant and frequent contributor to LeMetropolecafe.com:
September 2 session on the TOCOM Goldman Sachs COVERED an absolutely stunning 1,612 short contracts AND ADDED 351 LONG CONTRACTS to bring their long position to 1,049 contracts (a 50% increase in one session!!!!) and their net short position to 2,537 contracts (a 44% reduction in one session!!!). This is a NEW RECORD LOW for their net short position but beats the previous low by 1,963 contracts! This has absolutely astonishing implications for the gold market. GS is running for the hills. Clearly the gold market is headed MUCH higher.
....... With Goldman Sachs representing a defacto surrogate of the Federal Reserve, it is clear that the Fed is moving from being “overextended short” to flat – or possibly going long gold.
I believe this transition is critically important, much like a fuse burning toward explosives.
When this position crosses over from short to long, as I expect it will sometime this month, I expect that some large deafening bells will be ringing – somewhere."
http://www.financialsense.com/Market/wrapup.htm
sleepy
"I’m left with a sinking feeling that things are coming to a head, so to speak, and all that’s been missing to this picture is the exact timing of the culmination.
The timing, however, I now believe is very closely tied to this; illustrated by the work of Adrian Douglas, GATA consultant and frequent contributor to LeMetropolecafe.com:
September 2 session on the TOCOM Goldman Sachs COVERED an absolutely stunning 1,612 short contracts AND ADDED 351 LONG CONTRACTS to bring their long position to 1,049 contracts (a 50% increase in one session!!!!) and their net short position to 2,537 contracts (a 44% reduction in one session!!!). This is a NEW RECORD LOW for their net short position but beats the previous low by 1,963 contracts! This has absolutely astonishing implications for the gold market. GS is running for the hills. Clearly the gold market is headed MUCH higher.
....... With Goldman Sachs representing a defacto surrogate of the Federal Reserve, it is clear that the Fed is moving from being “overextended short” to flat – or possibly going long gold.
I believe this transition is critically important, much like a fuse burning toward explosives.
When this position crosses over from short to long, as I expect it will sometime this month, I expect that some large deafening bells will be ringing – somewhere."
http://www.financialsense.com/Market/wrapup.htm
sleepy