June 15th Metals recap

[DMac]

Today is June 15th and we are still sitting on 1225 Gold & 18.50 Silver.

Sell in May and go away? NO WAY!

In 2009 we had a sell in the first week of July and buy back 3 weeks later in August and it seems to be the pattern again this year.

I'm starting to think, if we don't see a massive sell off come the June options expiry, that we might not see a big drop at all this year!

There are too many EOTWAWKI things happening:

1. Destroyed Euro
2. US Econ about to melt away
3. The Gulf
4. Too many rumors of wars!

Imagine if there is a flashpoint in the Middle East or the Korean Peninsula?

1400 Gold nearly overnight.

[Steal]

Yeah, been wondering the same thing. Have been sittin on some pwdr just waitin and waitin and waitin. Not that I need any more metal, but if the price is right, would love to convert some paper.

[joe_momma]

My prediction (and reasoning)


We'll see a net drop net week (IMHO) - but be prepared to back up the truck on June 22 -

Two reasons
1) I think COMEX contracts come due on 6/24 - look for the usual price supression
2) Spain has ~62 billion Euros in paper coming due (i.e. rolled over) in July - look for the Euro to drop hard as the reality of the credit ponzi pyramid begins to come home.

:)

[DMac]

My prediction (and reasoning)


We'll see a net drop net week (IMHO) - but be prepared to back up the truck on June 22 -

Two reasons
1) I think COMEX contracts come due on 6/24 - look for the usual price supression
2) Spain has ~62 billion Euros in paper coming due (i.e. rolled over) in July - look for the Euro to drop hard as the reality of the credit ponzi pyramid begins to come home.

:)


I agree with your buying rec. joe_mamma. Next week should be a good time, I think we will see around 1180 by mid week. (Unless the Spain Euro fiasco helps push the price up in conjunction with the dollar)