The Clairvoyant Precious Metal Stocks
Three days ago September 7 , 2010 we saw a massive transfer of Comex Silver. 2.3M oz were taken from customer inventory into the dealer inventory.
A very strange thing happened on that day. That strange thing that so many frustrated precious metal share owners have seen more times this past decade than they care to think about. The shares started to get sold in the face of resilient metal prices.
It is very clear on the charts that stocks like NEM were being shorted aggressively in anticipation of leased metal being carpet bombed on the Comex. September 7th the attack started and it gathered more steam after a strong open on September 8th and then on September 9th, down the stocks went,in the midst of a very strong gap in the SPX.
Halfway through the attack, the metal hit the Comex and down the metals went, like so many times before.
I have stated more times than I can count these past ten years that it is a pure case of manipulation and theft that these shares are shorted with impunity and the sellers are always rewarded by the underlying which ultimately follows downward in a waterfall.
But, with all crimes in markets, there is a paper trail and the paper trail is clear. It is leased metal, that the big banks know will hit the market that are the culprits and if there is one thing we have learned the past several years. The authorities will do nothing about it…until it is too late.
Sabre
