We Now Think the Lone Ranger’s Horse IS on the Run

in investing •  2 months ago  (edited)

   Great and Wonderful Wednesday Morning Folks    

      Gold got the monkey hammer during yesterday’s Comex trade and the punch in the gut is still being felt but the Nobel metal remains steady, took a big breath, and is ready to fight with the trade at $1,406.00 down $5.20 after dipping down to $1,401.30 with the high at $1,408.90. Silver is the Lone Ranger’s horse and the back of the barn has been kicked out as it leads in the early morning with the trading price now at $15.685, up 7/10th's of a penny and close to the high at $15.70 with the low at $15.55. The US Dollar is flat this morning with its trade at 96.965, down 7.6 points and right beside its low at 96.955 with the high at 97.10. All of this was done while we slept, before 5 am pst, the Comex open, and the London close.    

      The Venezuelan Bolivar now has Gold priced at 14,042.43 showing us a loss of 92.88 Bolivar with Silver at 156.654 proving a gain of 2.397 in Bolivar value. Argentina’s Peso now shows Gold priced at 59,980.84 A-Pesos only losing 3.42 with Silver at 669.119 giving the “money of the people” a 14.498 A-Peso swing to the positive. Turkey’s Lira has Gold trading lower at 7,998.46 proving a loss of 75.93 with Silver under the fiat at 89.2215 T-Lira proving a gain of 11.142 in T-Lira value, showing us all 3 emerging market currencies couldn’t keep Silver under control (this horse is pissed).     

      July Silver had some excitement during yesterday’s trade as the Volume in the trade continued to climb all day with the Demands for Physical Silver posting a count of 414 contracts waiting for product proving a drop of 106 in count and with zero Volume up on the board so far this morning. Inside the 106 contract drop, an additional 41 contracts traded yesterday, so these may have been added to yesterday’s delivery already. This is why it is important to pay attention to Harvey Organ’s consistent and accurate posts. So far this morning there have been no trades in July so there is no trading range to report. With this in mind and the observances these past few days showing the quotes in parenthesis, the counts between the July and Sept contracts are no longer consistent or equal, so, we’ll wait for a trade to pop up in the delivery month and we may see these non-spoof spoofs, spoofing again.      

      Silver’s Overall Open Interest proves the problem is real and right now as the OI count jumped to 228,696 Obligations all done during yesterday’s trade. This is an increase of 9,628 additional shorts being put into place to make sure Silver didn’t go any higher during yesterday’s magic. Pardon my peacock feathers in full plume here, but I’m beginning to think those Option Purchases made after the Trump win and the very first Brexit Vote, was the absolute starting point to what we have today. Where would our price in the most manipulated market be if these centrals didn’t try to corral Silver like they did? All we need to do is watch from this point forward, because someone’s in a panic at the same time the longs are still Resolute!    

      Whatever blame will be used by the media, we know it is simply another mask of the facts. The Lone Ranger’s Horse really did kick out the back of the barn way back when, and the barn owners (the Comex Warehouses and those that control with paper) have a responsibility or is it a liability (depending on which side of the ledger needs to be applied)? Those of us who watch, are quite excited to see the happenings these past few weeks. It really seems like Silver is on the move and with the physicals nowhere to be found. So, enjoy your day, keep those precious metals in hand and out of the markets, and make sure the attitude is positive no matter what, and as always …   

Stay Strong! 

J. Johnson   

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