"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Monday, May 2, 2011

CME thoughts - Silver

You know, real silver bulls - as opposed to momo hopped bubble blowers - should not fear the CME margin requirement hikes.

All this does is mute the ability of speculators to blow silver off.  Silver may well be topping out now, but I can tell you one thing; a top now, triggered by the efforts of the futures and options crowd to contain silver speculation, will be healthier at this point than whatever top would form in silver on a blow off left to its own devices.

Silver is in speculation panic mode, not investment mode.  That never ends well.