Saturday, November 12, 2011

Silver Update: Something Fishy

BrotherJohnF is back with another Silver Update: Something Fishy.
BrotherJohn discusses silver's TA, and states he will be revising his call for $100 silver by year end.  He also looks into SSRI's 33% crash on Thursday- which took SSRI all the way back to the breakout in 2003 (when silver was $7.50) and discusses why mining shares have trouble making money in a manipulated market. 
"There are so many reasons not to buy these stocks- the biggest reason is they're just pieces of paper.  And as we've seen with MF Global and as I think we will see on a daily basis going forward, that promises based on paper can just go up in a puff of smoke.  It's just a really terrible idea to invest in these mining companies."