Saturday, May 10, 2008 10:25:05 PM
I checked the public opinion chart of silver on sentimentrader.com (pay for use site) and it confirms a sentiment bottom. I took a peek at the USD weekly and it still hasn't made it past its mid-BB ... USD is still in a parabolic down formation. The combination of these factors COULD provide a major rocket launcher if the market manipulators want to make it happen.
I picked up some more gold Eagles for sale in my town today at $35 over spot. One dealer is selling Eagles at $35 over spot and another at dealer at $50 over spot. About two months ago, these same dealers were selling Eagles at about $75 over spot... this is why I like to wait until gold pulls back, the euphoria dies off, sentiment bites the dust, and daily technicals start to breath some new life (like now).
Posted in Ord Oracle's newsletter:
Jan 4 - We have transitioned into a bear market. Completely different rules apply.
May 23 - IMO, any price at/above this close makes a great Nasdaq/SP500 short.
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