Cutting Vacation Short
This is relentless and unforgiving...and I'm not talking about MrsF.
So bad that I'm cutting my mini-vacation short. I still don't have time for a full post so here are two items for you to read this morning.
ZH has been doing an excellent job chronicling the consistent, daily destruction. Here's the latest: http://www.zerohedge.com/news/2013-02-20/precious-metals-morning-slam-right-schedule
And here's someone who has noticed some of the same "anomolies" that I have: http://www.zerohedge.com/contributed/2013-02-20/curious-case-falling-gold-and-silver-prices
The charts, of course, look terrible. Having failed at hoped-for support, silver looks like $28 and gold, if $1580 fails, looks headed all the way back to the bottom of the 18-month range, near $1550.
This is all highly unusual and indicative of extreme manipulation and panic-level positioning. At the risk of sounding trite and reading like another KWN pumper, I must say it: THIS WILL PASS. THESE EXTREMES WILL BE RESOLVED SOON AND NEW UPLEGS WILL BEGIN. PLEASE BE PATIENT. THE FUNDAMENTALS ARE STRONGER THAN EVER AND PHYSICAL REALITIES WILL SOON REPLACE PAPER SHENANIGANS AS THE DRIVING FORCE BEHIND PRICE.
More later if possible.