SILVER up 2% and a massive shortsqueeze may be underway. We may see 15-30 percent gains in the next year. Plus a word on the weakness we are seeing in BITCOIN (6450). STATMAN COMMENTS.
It is noon here in the eastern part of the USA this Tuesday, Sept. 25th.
Things (as we've written for many days and weeks) look great for the metals medium to long term. Now they are looking good short term. that has been the issue. Still we respect Ron Rosen, the best timer I've seen in 40 years. He sees 1500.00 gold and 21.00 silver 12 months out and much higher prices 2-3 years out (as we do!).
SENTIMENT is simply the best we've seen in 24 years (see the silver chart) and really as good as it gets. We have 6 consecutive weeks of SPECS short and we have the BIg Commercials long.
Let's examine the charts above. If you look carefully, a picture paints one thousand words. Throw in the mess being created by the Trump administration with China and I'll ask you where gold and silver must head. Note the dollar weakness DESPITE higher interest rates. The dollar is headed lower.
China will not lose a trade war with the US. they have downgraded (and are the biggest holders) our debt to BBB+. They are loading up on gold. Russia dumped our debt only to buy gold. And we are adding debt to our already mountains of it! You know what lies ahead.
Consumer confidence at an 18 year high! That would mark market tops. Always buy when everyone is pessimistic. that marks bottoms. We have called a sell on this equity market. Remember we did so in January at 26,500 and a buy at 24,000. IN April! This market can put on another 1000 points. SENTIMENT is not quite where i would "short". But I believe we are headed for a thirty percent decline in the US equities, large cap. to me the risk-reward says sell stock, buy the precious metals.
Bitcoin the other day (SAT.) at 6700 flashed caution. I said with Sentiment at 21 per cent short, we would have lots of trouble with 7000 resistance should we even get there. Sentiment as I write is not greatly improved. Let's see if ( it is my feeling) that 6000 again holds.
The opinions are mine! Please make your decisions based on your 'due diligence'.
Thank you again for your support of Yankee-Statman!
On the 2hr chart for BTC on Binance I noticed that the lows of 6111 and 6250 happened about 10 days apart and we are almost 10 days away from the 6250 low. All speculation but perhaps it's a trend? Plus it's my brothers Birthday tomorrow.😁
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thanks..and a happy b'day to him!
As this is well overdue, it seems that it will be an incredible ride to experience! The question is what will start it all? Time will tell!
right..I think the Nov. election will be full of surprises and if it is anti trump, "look out".
Best Financial Report on Steemit! Great work Statman! Re-Steemed.
thanks so much TP..and greatly appreciated..(but is the system back to normal!!)
No - My one vote for you took my power from 100% down to 25%. Same for @fitinfun. Boom!
I just do not know what is going on..but things are "supposed to get back to normal! (thanks.)
Wow, very revealing head and shoulders patterns on a macro level....a bit scary.
yes!