RSSCategory: Category: Trading

Gold Getting a Double Boost to its 1238.90 Target

| April 13, 2015 | Category: Trading
Gold Getting a Double Boost to its 1238.90 Target

Two robust, ABC uptrends of different degree are driving this rally, auguring a successful voyage to the1238.90 target we’ve been using to stay abreast of the move. It has been relatively easy to trade, since the swing highs and lows have come more or less where expected, at Hidden Pivot supports and resistances.

Continue Reading

Ted Butler: An Unavoidable Comparison With Silver Manipulation

Ted Butler: An Unavoidable Comparison With Silver Manipulation

A rare event occurred this past week; the CFTC charged a major food company, Kraft, Inc., with price manipulation in the wheat market. You can count on one or two hands the number of times the federal commodities regulator has charged anyone with price manipulation in its 40 year history.

Continue Reading

COT Report Points To A Meaningful Gold And Silver Rally

| March 23, 2015 | Category: Trading
COT Report Points To A Meaningful Gold And Silver Rally

The latest Commitment of Traders Report for futures positions held at the close of trading on Tuesday March 17th 2015 is very encouraging. We can easily conclude, based on the data, that the current setup in futures positions point to a meaningful rally, at least in the short run, in both gold and silver. In other words, the selling in the ongoing cycle seems to be behind us, and a new short to mid term cycle should have started last week. To back up our thesis, we are looking at the rate of change of commercials short positions in the COT report. We have used this time and again, so far each time with success.

Continue Reading

Ted Butler: More Evidence Of JP Morgan’s Manipulation Scheme In COMEX Silver

Ted Butler: More Evidence Of JP Morgan’s Manipulation Scheme In COMEX Silver

Ted Butler has written extensively about silver manipulation. He has been the first analyst in this area to explain in great detail the mechanics of silver manipulation, but also to provide hard evidence on numerous occasions. In his latest update to his premium subscribers, he explains how JP Morgan is applying manipulative tricks in the March 2015 futures contract on COMEX silver.

Continue Reading

April Gold Fails to Entice

April Gold Fails to Entice

The 1225.80 ‘buy trigger’ I’d suggested here yesterday went unachieved, sparing us the false encouragement of a bull trap rally that died in the wee hours Monday morning. The subsequent dive exceeded a Hidden Pivot support at 1199.60 (see inset), promising more pain for bulls down to as low as 1176.30 over the near term. The futures were ostensibly a bull trade shortly after midnight Tuesday, but let’s wait for a print at 1225.30, lest we court disappointment.

Continue Reading

Commitment of Traders Report: JP Morgan Still Short Silver Around 18,500 Contracts

| March 2, 2015 | Category: Trading
Commitment of Traders Report: JP Morgan Still Short Silver Around 18,500 Contracts

This is an excerpt from Ed Steer’s Gold & Silver Daily Newsletter, with an overview of the most actual COMEX futures market positions.

Continue Reading

A Possible Trade Set-Up in Gold That Goes Against Feelings

| February 27, 2015 | Category: Trading
A Possible Trade Set-Up in Gold That Goes Against Feelings

The correction from January’s 1308.80 high has been nasty, but we shouldn’t let that distract us from seeing the turn if it comes. It’s tempting to think yet another leg down is coming over the next day or two and that we should therefore be looking for a way to get short. Notice, however, that the larger, bullish ABC pattern going back to the January 2 low is still intact. That pattern would trip a buy signal on a print at 1225.80. Accordingly, I’ll recommend using a ‘camouflage’ entry signal on the 3-minute chart or less to get long once that number has been hit.

Continue Reading

Investigation Started On Gold & Silver Manipulation Against 10 Major Banks

| February 23, 2015 | Category: Trading
Investigation Started On Gold & Silver Manipulation Against 10 Major Banks

U.S. officials are investigating at least 10 major banks for possible rigging of precious-metals markets, even though European regulators dropped a similar probe after finding no evidence of wrongdoing, according to people close to the inquiries.

Continue Reading

COMEX Gold Analysis – Has Gold Bottomed?

| February 23, 2015 | Category: Trading
COMEX Gold Analysis – Has Gold Bottomed?

Both Ed Steer and Ted Butler consider the COMEX market structure as evidenced by the latest COT report not very good. Ed’s estimate is that we still have about fifty or so dollars to the downside left in gold, and maybe one dollar or bit more in silver. However, he adds to it that if the commercials really want to get aggressive, we are nowhere near a price bottom. That confirms our chart analysis. Gold bulls should be prepared, as there is not enough evidence yet of a final bottom.

Continue Reading

Precious Metals Monthly Bank Participation Report: February 2015

| February 8, 2015 | Category: Trading
Precious Metals Monthly Bank Participation Report: February 2015

As you can tell, with the exception of palladium, the banks of the world—especially the “3 or less” U.S. banks, have been going massively short against all comers since these latest rallies in gold, silver and platinum began at the start of 2015. Along with a couple of Wall Street investment houses, these are “da boyz’—the sellers of last resort.

Continue Reading

Ted Butler’s Comments On The Latest COT Report

| December 2, 2014 | Category: Trading
Ted Butler’s Comments On The Latest COT Report

In the Managed Money category, the traders there covered 6,776 short contracts at a huge profit. This short covering by the Managed Money traders was all rocket fuel that Ted Butler says won’t be there on the next rally, which may be underway. The ‘non-blinking’ non-technical funds in the Managed Money category blinked a bit, as they sold 1,652 contracts of their long position.

Continue Reading

Silver: Anomaly In Open Interest

| December 1, 2014 | Category: Trading
Silver: Anomaly In Open Interest

Open interest is roughly 175,000 contracts, which is about 875,000,000 ounces of paper silver. At market price that is about $13 Billion, or only about 15% of what the Fed created each month during QE3. It would take very little digital currency, relatively speaking, to buy all the open interest, or to crush prices via naked sales of paper contracts. Stacks of physical silver are much safer and far more “real.”

Continue Reading

COT June 2014 – New Longs And Lots Of Short Covering

COT June 2014 – New Longs And Lots Of Short Covering

The accompanying charts show that, while the majority of the recent changes in the commitment of traders report have come from short covering, especially in Silver, there has also been some buying interest as well. Technically speaking, the precious metals sector still remains in a downtrend and has to overcome quite a few resistance levels before a bull market is to return.

Continue Reading

Gold Forming Possible Bullish Flag at Massive Trend Line Resistance

Gold Forming Possible Bullish Flag at Massive Trend Line Resistance

A bullish flag pattern must be confirmed before giving buyers a green light, and with the multi-year trend line reinforcing resistance in the 1320 area, a reversal back to the downside is also a legitimate possibility. If we do see gold turn lower, profit-taking by gold bulls may drive prices back down to at least the 38.2% retracement of last week’s rally around 1300, if not the 61.8% retracement around 1280. Depending on how the current pattern breaks, we should have a lot more clarity and a strong near-term bias on gold by the middle of this week.

Continue Reading