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Well that was a wild ride yesterday… did you see it? Sudden gold plunge has traders looking for answers It happened so quick and violent that it triggered the circuit breakers.
So traders are now looking for answers – I have a guess, but of course I cannot confirm. But I would think that JPM’s Jamie Dimon is starting to see swelling with all the wrist slapping he is getting… JP Morgan Pays $2 Billion to Avoid Prosecution for Its Involvement In Madoff Ponzi Scheme – Although that fine sounds steep, that’s like you or me getting a $500 speeding ticket and avoiding traffic school.
While JPM’s wrist gets slapped, Madoff’s other end is getting slapped in prison and it’s my opinion that Jamie could use some hard time for his crimes as well.
I can imagine that we are in for a volatile few days – The FED minutes are due to be released and we are waiting for the NFP report on Friday, so stay tuned and buckle up.
Meanwhile, Janet Yellen Is Officially Confirmed As Next Fed Chair and it appears that the job market is really starting to pick up as you can see here – The Fed Is Hiring: Lots Of Cops. So lets dig deeper… The FED, if you didn’t know has its own police force and they are hiring like crazy – Are they planning for something? Look, I don’t agree with a lot of their policies, but I do know they are not stupid and they see something coming down the pike that won’t be pretty… so they plan for it.
We on the other hand should be doing the same thing. Now I know that this next guy talks a lot about a gold & silver reversal, but he is our favorite Canadian self made billionaire after all; Eric Sprott is out on the circuit in full force saying: 2014 Sends Gold North of $2,000 and Silver Over $50 – We MUST take a few minutes and here his reasons why…
At the end of they day we need to realize the level of deception, the can kicking and the lies and the fact that The Gold Bull Market is Not Dead – The same goes for the other shiny metal – Silver American Eagle coin sales smash all-time record in 2013 – Remember, according to www.usmint.gov these Eagles are priced in at approximately $50.00 when the actual price of silver is $20.00 today – People in the masses are preparing and I hope you are too.
Also, according to Sprott in the interview above, the Mint has suspended sales for approximately 30 days; not because they the machines need a cleaning, it’s because they have no silver.
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Now onto the breaking news that matters…
Silver, Gold and S&P: Trend Change Due – The year 2013 was a great year for the S&P and a terrible year for silver and gold investors. There are many indications that it is time for a reversal. If a market moves too far (up or down), too fast, or for too long, expect a reversal.
The fundamentals for these markets did not change from normal to fantastic to terrible in a short time. It is clear that High Frequency Trading (HFT) algorithms, speculators, momentum players, the Fed, and others pushed the markets higher or lower to unsustainable levels and then reversed those markets.
Silver and gold prices have been forced lower in the paper markets while the S&P has been levitated with zero-interest rates, HFT and QE. The financial powers-that-be, the political and financial elite, Wall Street, China, India, Russia, and the U.S. Treasury have all benefited from the suppression of gold and silver prices.
Most have also benefited from QE and the S&P levitation. The surprise is not that gold and silver prices have been pushed lower after their 2011 blow-off rallies, but that the “smack down” has lasted so long in the face of such strong physical demand.
Regardless, regression to the mean is relevant, even in manipulated markets. Expect a trend change in 2014 and much higher gold and silver prices as they rally above their 200 day moving averages.
The ratio of silver prices to the S&P is back to 2008 levels and substantially below the linear trend since 2006. Expect the ratio to regress (rise) to its mean while silver prices rally substantially from here.
Both long and short term time cycles indicate that an important bottom occurred in June of 2013. It appears that a double-bottom occurred in December of 2013. If this double-bottom holds, time cycles suggest that silver will rally strongly in 2014.