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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 - Balance Leads To Imbalance. Do Not Look For What Is Not There. 0 comments
    Jul 23, 2012 1:05 AM

    Sunday Evening 22 July 2012

    It is a market axiom that balance leads to imbalance, and both the gold and silver market remain in a balanced state between the forces of supply and demand. There is little to add to previous articles until price breaks out from the continuous move along the Right Hand Side, [RHS], of developing activity.

    The chart comments capture what is going on until either a new leg down, or a probe to see what kind of supply, if any, lies under recent lows. [See Silver And Gold - Forget Fundamentals And Opinions, click on http://bit.ly/M0Qcxt, comments after the first chart]. While the upper range closes are usually bullish, it is hard to trust what goes on in the Comex paper market, directed mostly by one major firm.

    Perhaps a better clue is the lack of net downward direction when line 2 is compared with the distance traveled by line 1. A shortening of the downward thrust can lead to change, and the fact that price has been moving sideways, of late, reflects a change has already occurred. What remains unknown is if it can sustain and lead to a turnaround.

    We are seeing some synergy amongst the different time frames. We passed on a weekly chart because the monthly is more controlling and shows the same picture. Next chart.

    (click to enlarge)SIU D 22 Jul 12

    It is not often to see simultaneous time frame support, including a quarterly chart, so any breakout from here will be significant.

    (click to enlarge)SIU M 22 Jul 12

    The daily gold chart has a slightly better construction, even though silver has been just a little better than gold in performance over the last several trading days.

    (click to enlarge)GCQ D 22 Jul 12

    Following the charts, we provide links to two important articles. The first link is an incredibly revealing look at how blatantly the governments and agencies have been colluding to literally steal everything they can from you. In the past, we have included many scathing editorial comments in gold and silver articles from what we have known about the markets and central planner interference/intervention for quite some time. For any reader[s] who think we may be off base, both of the following articles present different themes of the same story that has been going on in stealth fashion for many decades, now reaching a crescendo, and falling apart at the same time. Before it ends, however, it will get painfully worse for everyone.

    (click to enlarge)GCQ M 22 Jul 12

    From Zerohedge, the clearinghouse of alternative news sources that exposes the mainstream reporting as is dictated by the crumbling powers that be, comes this riveting, albeit long, article that casts light on the underbelly of the governmental beasts. Most already know the fundamentals for silver, demand far outstripping supply for many years, alternative to fiat, etc, yet price has been languishing since the highs despite what everyone knows.

    The article contains a graver kind of fundamental information that loudly trumpets the importance of accumulating physical gold and silver, regardless of price, and just as importantly, as we have been
    saying for several months, HOLDING your purchases in your own control and NOT in some "institution" subject to a MFGlobal/PFG-type of disappearing act. Couple that with the LIBOR scandal, starring the Fed and other greedy participants, among a slew of other similar asset-grabs by Wall St and central banks from
    the world over, and you can be assured that all governments want what you have and will stop at NOTHING to get it.

    DO NOT be put off by the length of the article. It is MUST reading and worth passing along to others you know. Learn about the "Group of 30," unelected individuals, that determine the financial fate of the world, in much the same way as Libor-gate. The uninformed do not stand a chance. You should not be one of
    them.

    The first couple of reader responses, following the article, also make a good read.

    http://www.zerohedge.com/news/government-your-legal-right-redeem-your-money-market-account-has-been-denied-sequel

    To go along with the above, the next article is a shorter, gentler read, but with equally important implications. It comes from Libertyblitzkrieg, but we are citing it from Zerohedge so you do not have to search for it on the other site.

    http://www.zerohedge.com/news/guest-post-ignorance-bliss-so-go-back-sleep

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