Silver Editorials & Commentary

Chinese silver inventories grow increasingly tight as stocks at the Shanghai Futures Exchange continue to fall to record low levels. It is truly amazing to watch how much silver inventories declined at the Shanghai Futures Exchange since March of 2013.

I remember my first drug high. No, it wasn’t from a shady deal made with a seedy character in a bad part of town. I was in the hospital, recovering from surgery, and while I wasn’t in a lot of pain, the nurse suggested something to help me sleep better. I didn’t...

Wherever plunder is less burdensome than labor, it prevails; and neither religion nor morality can, in this case, prevent it from prevailing.

- From Bastiat's "The Law"

In our opinion, speculative short positions are favored (with stop-loss at 1,970 and a profit target at 1,850, S&P 500 index). Our intraday outlook is bearish, and our short-term outlook is bearish, following a breakout below recent consolidation:

It is clear that the geopolitical situation is heating up all over the world. What were before mostly small skirmishes by terrorist groups have escalated into full-fledged conflicts in various regions. This may be the beginning of a new trend: a “cycle of violence...

The market rallied last week, but new lows remained at threatening levels. There has been no sign of a bottom. I expect the major averages to be lower on Friday August 15 than they were on Friday August 8. Last weeks negative forecast was a miss.

Recently I've been a bit out of whack on this pair, the EURUSD. I feel confident in the longer term projections. It's the daily machinations that I'm still trying to get in-synch with. Sometimes you just need to step back and let the market do its thing, not forcing...

Silver is on major sell signal since 2011. Short term is on sell signal. A top is in according to COT data.

Current investing model favors equities and both the growth and energy sector are on major buy signals. Investors should stay invested and new money should wait for the 4 year cycle bottom in coming months.

It is important to review the minutes released recently by the Fed, since they may well signal a turning point in monetary policy. The programs of active purchasing of government debt and commercial assets may be curtailed. Yet, as we have often discussed at length...

At the end of July global equity bull markets had a moment of doubt, falling three or four per cent. In the seven trading days up to 1st August the S&P500 fell 3.8%, and we are not out of the woods yet. At the same time the Russell 2000, an index of small-cap US...

In our opinion, speculative short positions are favored (with stop-loss at 1,970 and a profit target at 1,850, S&P 500 index). Our intraday outlook is bearish, and our short-term outlook is bearish, following a breakout below recent consolidation

Briefly: In our opinion no speculative positions in gold, silver and mining stocks are now justified from the risk/reward perspective. Yesterday’s price action in the precious metals market was very specific. Gold declined very little, silver declined much more, and...

Global annual silver production is approximately 820,000,000 ounces or a bit more than 25,000 metric tons. What does that mean in terms that we can more easily understand?

“If I scare you this morning, and as a result you take action, then I will have accomplished my goal.” That’s what I told the audience at the Sprott Natural Resource Symposium in Vancouver two weeks ago.

I was happy to speak recently at the Vancouver Natural Resources Conference in beautiful British Columbia. I also had the pleasure of listening to a variety of presentations by some of the most influential names in the investment world, and met a few new faces along...

The stock market has advanced sharply over the past five years no matter what geopolitical situation has blown up or how tenuous the economic foundation may be. This is because Investors have simply been forced to throw money at the market with a reckless disregard...

The broad stock market is in a short-term downtrend following last week’s breakout below two-month long upward trend line. In our opinion, speculative short positions with a stop-loss at 1970 and a potential profit target at 1850 (S&P500 index) seem justified at...

In the last few weeks the story of Iraq has faded from the headlines to be replaced by the story on the Ukraine, Gaza and on the business front the tumble of the Dow on the New York Stock Exchange.

We called the exact top in silver to the day in the last update 3 weeks ago, as it has since reacted back. Although a brief relief rally now looks likely, the still extreme COT readings suggest that silver has just put in an intermediate top. On its 6-month chart we...

Silver is on major sell signal since 2011. Short term is on sell signal. A top is in according to COT data.

Current investing model favors equities and both the growth and energy sector are on major buy signals. Investors should stay invested and new money should wait for the 4 year cycle bottom in coming months.

The investment community is quite comfortable these days, at least in a statistical sense. Despite the events of the week of 7/28, there is still a calm in the markets. Perhaps it is not warranted. In this article I examine measures of investor complacency and...

Ever notice how empty space tends to get filled? If there is a storage container or shelf somewhere in your house, something tends to find its way there over time. In abundant societies, it seems people just accumulate stuff. I remember a National Geographic...

The blue chips are catching up with the secondaries to the downside. New lows are the most important indicator now, when bottom has been made, new lows will diminish rapidly. I expect the major averages to be lower on Friday August 8 than they were on Friday August...

June’s FMQ components have now been released by the St Louis Fed, and it stands at a record $13.132 trillion. As can be seen in the chart above, it is $5.48 trillion more than an extension of the pre-Lehman crisis exponential growth trend. At this point readers not...

All modern currencies are fiat. The numeraire of the moment floats in a cesspool of policy designed for management and intervention. Money and value become hollowed out concepts.

The main U.S. stock market indexes were mixed between -0.2% and +0.4% on Wednesday, extending their short-term consolidation, as investors reacted to some important economic data announcements, quarterly earnings releases, FOMC Rate Decision release. Our yesterday’s...

The past year has seen a long list of "XYZ is at its highest level since XXX" announcements. Some notable examples:

Governments and central banks have made little or no progress in recovering from the Lehman crisis six years ago. The problem is not helped by dependence on statistics which are downright misleading. This is particularly true of real GDP, comprised of nominal GDP...

With silver recently putting in a nice 10% plus rally, I thought it was time to follow up my last article on silver, Silver Set To Stun. It's been two months since that article so there is some new information to process. Let's get straight into it with the monthly...

President Nixon closed the “gold window” in August 1971. That decision enabled the exponential growth of debt, paper currencies, and prices.

There are some analysts out there who maintain that the precipitous decline in commodity prices this year bodes ill for the stock market.

Reverse purchase agreements are the vehicle and fulcrum for the perpetual motion machine of modern finance. These daily transactions between institutions are absurd letters of credit in the shadows. They are central to our faith based monetary system gone horribly...

Baseball great Yogi Berra had a saying “It's déjà vu all over again”, and every year around this time, I am reminded of those words. As we have once again, happened upon that magical time of year I call, recovery summer déjà vu. It’s the time of year when Wall...

I don’t typically emphasize price charts in analyzing the market, however something unusual has been happening in the spot (physical) silver market. It did not happen in the silver futures market, nor in the gold market. I have been bearish on silver because of its...

Briefly: In our opinion, no speculative positions are justified. Our intraday outlook remains neutral, and our short-term outlook is neutral.

It is no secret that the markets are manipulated. Periodically, the question is asked if the Dow theory, cycles or any other technical methods can remain valid in a world of extreme manipulation. The short answer is, Yes. While manipulation can have a...

Current investing model favors equities and both the growth and energy sector are on major buy signals. Investors should stay invested and new money should wait for the 4 year cycle bottom in coming months.

Silver is on major sell signal since 2011. Short term is on sell signal. Upside is limited according to COT data, caution is advised.