The price of silver will always head in the opposite direction to where you hope it will go. Corollary: The effect can be magnified by predicting the future price just before a big purchase or sale.
Ok, I've got another one: Within two weeks of discovering ZeroHedge, a person shall feel the overwhelming need to tell everyone of the the imminent collapse of the entire financial system, and that the only sensible option now is to buy gold, guns and ammo. Its a bit like the following joke. Well, not really, but here it is anyway (shamelessly stolen from another forum): A guy who goes in a confessional and tells the priest that last night he meet 4 swedish air hostesses down the pub, went back to their place, snorted coke, drank 20 year old scotch and had sex all night until the sun came up. The priest says, "that's terrible what kind of a catholic are you?" Guy says "I'm not a catholic" The priest says, "what are you telling me all this for then?" Guy says "I'm telling everyone."
ZeroHedge and those like ZeroHedge have a vested interest in being the snake oil salesman for silver, in my opinion. They are permabulls because that's their racket...it benefits them to put forth permabull narrative. .
Do you feel uncomfortable with that terminology in 3, 2, 1 .....? Any preference for another? Money Makers? Succesful Investors? Good Job Deliverers? Market Service Agents? Bob The Builders?
That sounds about right, how I found silver. Zero Hedge and Silver Doctors Etc...then it only to me about a day of lurking on this forum to go Awe Man! Now after slightly educating myself I don't think it was a bad descission...I just now know I won't be rich in 1 year and beable to buy a house with 500 silver peices
Instead, it's the collapse of the price you paid them. A collapse that implies that alot did what they declared as 'NOT sensible'. Including themselves.
I bought silver for a first time, joined Kitcomm forum, ZH and SD being like the red line throughout all the threads. All 'information' seemed to origin from these. I didn't know what to believe, and I also didn't know how/where to check. This is a post of me back then that illustrates this: https://www.kitcomm.com/showthread....ever-correct-down-to-30&p=1307963#post1307963 Date: 15 april 2011, 2 weeks before the $50>$32. You can clearly see, 1) till 3) were rumors spreaded by the ZH/SD community/club. In meantime I learnt this: 1) JP Morgan is a bullion bank / commercial hedger and has a net short position simply because it is providing itself as counterparty for those that want to take a speculative position (for silver mostly a long one hence the net short opposing position of JP Morgan). One can note here: JP Morgan is NOT the initiative taker here, the one with the long position is. 2) When those initiative takers dump their long positions (as to 'cash in' or 'lock' the profits after a price uptrend), then JP Morgan can only dump the corresponding short positions too. The ZH/SD club names that as 'JP Morgan hurrying to cover' but reality is that without both long and short positions, a contract cannot exist, and if the longs got dumped, the shorts MUST be dumped too. And there is also no need to hold them anyways, because the risk that the long position presented, is gone. See, in a price uptrend, short accounts lose dollars, and they are added to long accounts. If the long account disappears, then it's SURE that no further dollars will need to be moved. Regardless where the price later on is driven to. This simple 1) 2) reality is a fundamental of a futures market. It's how hedging, its existence reason works. JP Morgan, being bullion bank, has gold/silver in his depots, in ownership. If the price would drop, they would receive less for it, so they take a specific number short positions to receive compensating dollars. So during a price uptrend, JP Morgan LOSES dollars from these short position, but COMPENSATES these losses with the EXTRA dollars they receive when selling that gold/silver at the higher price. In a planned way, as to not give away ALL profits (which is the case with a 100% hedge - every 5000 ounces stock hedged with a 5000 ounces futures position). Is that ZH/SD club not aware of this fundamental? Considering all the financial/economical/futures tech talk in their numerous articles over the time, is it possible that they are that less informed? I say no, lol. They do know better than that. Way better. They make their freebies from those that listen to and act according to, their articles. This was Pirocco, with the daily flamethrower burst on ZH/SD. More in the future!