Feb. 29 Comex March silver futures first notice day Feb. 29 Comex March copper futures first notice day Feb. 29 Nymex March palladium futures first notice day Last night Harvey Organ said:
"This is the first time in quite a while that gold and silver rose big time a day before first day notice. The bankers try and influence our longs not to take delivery so they generally raid. Today was different."
Well, it really wasn't. The metals rallied higher yesterday and then were smacked down in a very calculated bear raid today. I was expecting something like this, and here it is. What is the answer? Unless you are a full time experienced trader playing with 'cool money,' stop trading. This market is far too thin and given over to gimmicks for the average person to participate. It really is. Take long term positions that suit your investment situation, and then ignore the noise that the trading desks throw out to shake people from their positions, painting pictures on the charts to shape perception. Bernanke is still powerful, but the trends in the longer term are even more powerful. The volatility and gaming in the markets will only get worse, as they are thinly traded and dominated by a few big trading houses that act as they choose, almost with impunity. You have three choices. Buy, sell, or stay out of the daily trade. And for the vast majority, the last choice is the best. If you have the overwhelming urge to gamble with your money, take a trip to Las Vegas or Atlantic City. The food is better, the drinks are cheaper, and the games, although still stacked against you, are at least honest.
