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Michael Noonan Edge Trader Plus Michael Noonan is the driving force behind Edge Trader Plus. He has been in the futures business for 30 years, functioning primarily in an individual capacity. He was the research analyst for the largest investment banker in the South, at one time, and he... More
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  • Silver And Gold - The Beat Goes On. And On And On... 0 comments
    Jul 8, 2012 7:57 PM

    Sunday 8 July 2012

    In the last article, we said all governments lie, lie, lie, and cheat, cheat cheat. [See Silver and Gold - Friday = Qtrly, Mthly, Wkly Closes For Review, click on http://bit.ly/OVTk3k, 5th paragraph after weekly silver chart]. It bears repeating because few believe the truth, these days. The reason for injecting these little editorials is to have everyone keep in context the importance of buying, AND personally holding physical metals, and have NOTHING to do with anything paper. ALWAYS remember the quote from Jefferson whenever you hear/read anything to do with paper holdings: "Paper is poverty...it is only the ghost of money and not money itself." [Very last paragraph of same article].

    Here is an excellent article from Zerohedge on why one should hold physical metal ONLY within one's direct control. http://www.zerohedge.com/contributed/2012-07-06/are-banks-raiding-allocated-gold-accounts. Liars and cheaters abound, and if you are relying on them, remember MFGlobal!

    Further amplifying on the topic of paper holdings, to include banks and
    brokerages and not just fiat, here is a link to the GoldenJackass site that provides an extensive overview of the corporate bankers' grand
    scheme to screw everyone, which includes YOU reading this article. It is aimed particularly at those who are unaware of being unaware, and for those who still prefer to view the world from heads buried in the
    sand, skip ahead the charts.

    One thing that clearly comes across in the article is that what used to be, [although many still think of it as being present tense], government of the People, by the People, and FOR the People is now government of the corporations, by the corporations, and ONLY for the corporations, orchestrated by central banks. ANYONE in government is a servile puppet of the banking elite, the Moneychangers. It does not matter which government comes to mind, from "Yes We Can," to anywhere on the globe.


    Actually, the charts are anti-climatic, reading the above links or not. [Except for chart 5]

    Comments on the charts are pretty conclusive and little need be added.

    (click to enlarge)SIA W 8 Jul 12

    Trading ranges offer little in adding to one's knowledge of what to do, other than leave it alone. At the bottom of the char, the bear trap for future reference is for the last chart.

    (click to enlarge)SIU D 8 Jul 12

    (click to enlarge)GCA W 8 Jul 12

    (click to enlarge)GCQ D 8 Jul 12
    It really does not matter what the underlying future/stock is in a chart. With a few exceptions of some factors specific to a stock or future, they all respond to the primary forces of supply and demand. We saw the potential bear trap in corn on the following Monday, [next bar after the low Friday close], but because the trend was down, we wanted to see a pull-back to the 527 level, in the next few days. No one could foresee the weather market which soon followed, but we show this chart as an example of why one pays attention to potential bear traps.

    (click to enlarge)CU D 8 Jul 12

    For every bear trap corn chart, there are many more Euro charts that show a potential bear trap that does not pan out. Potential is just that. It is not real. It may become a fact, but until it does, we have to rely on what it and wait for confirmation. It is too easy to get ahead of the market in anticipation of what MAY develop, and lose, than it is to wait for confirmation and then look for an edge in following the market.

    (click to enlarge)EUU D 8 Jul 12

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