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August 25, 2006
Two can play this game, Fri., Aug. 25, 2006, 9:44 AM
A couple minutes after publishing the article on silver this morning, the price took a downward spike before recovering. It's not the first time, and won't be the last. It's part of the game.
Years ago, I watched influential analysts like Joe Granville be discredited by vested interests who had their reasons. After gaining notoriety for calling the market right, the gnomes decided that if Joe said A, they would immediately do B.
After a while, they were hoping that people would say "Joe Don't Know".
The same people are telling you the market is not manipulated.
So, I say to these people: "Two can play your game."
The whole thing reminds me of the double agent spy game, or the game of baseball where the catcher has to flash a series of signals, a different one being the real one.
At the end of the day, the actions of We The People can and do overwhelm those syndicates operating behind closed doors to influence markets one way or the other.
We do hold the power because we trade on the basis of principles and we trade, as independents, with no axe to grind.
Any military person will tell you that sheer numbers operating strategically and tactically will overwhelm the opposition. And that's what we are going to do, thanks to the Web.
I am so looking forward to the day we on the buy-side get to put markets back on a level playing field.
Posted by Posted by Bill Cara on August 25, 2006 09:44:52 AM | Category: Community Chat
Discourse
Informative, interesting article on the challenges of gold mining today.
Posted by: Seamus
at
August 25, 2006 10:21 AM [link]
I have been reading this blog for the last 10 months(around the time you called 2006 Year of the metals), refreshing it every 10-15 minutes during the day.
I thought on several occassions when Bill commented on gold moving up on a day, the price started declining. I even thought Bill had the effect of Jinxing the Gold's upward movement.
For the past few days, gold started out well in the morning and slowly lost steam by the 12:30 closing at NY.
It seems somebody is controlling the gold prices.
I noticed that Gold miners were steadiliy gaining thw last few days.
http://finance.yahoo.com/q/bc?t=5d&s=FCX&l=on&z=m&q=l&c=GLD%2C+NEM
Posted by: JogyP
at
August 25, 2006 1:55 PM [link]

Personally, I am getting to the point where holding the physical may be the only way to play.
Posted by: ihatecnbc2000
at
August 25, 2006 9:50 AM [link]