Silver has gapped down through $31 to $30.48, and is preparing to challenge support at $30 in the wake of no QE-3 announcement by The Fed. Gold has also gapped down, plunging through $1650 to $1642.
This morning we discussed how the cartel allowed both gold and silver to rally on the news of the ECB rate hike, to suck in all the speculative longs prior to the major imminent waterfall smash.
Today's charts of both gold and silver reveal the EXACT SAME TACTICS!
Both gold and silver had a vertical spike at approximately 10am EST, with subsequent 2-wave (thus far) waterfall decline smashes timed before and after the FOMC statement.
Folks, the cartel is fighting a war. THE ONLY WAY that you can be successful is to STACK THE SMACK with PHYSICAL METAL purchases, and hide your metal away. These are paper smashes, and MUST BE BOUGHT PROFESSIONALLY. Do not chase precious metals into rallies, because this is what the cartel will do to you, time and again. Why do SD readers email us almost daily complaining that the price of silver drops $1-$2 and the price of gold by $50 within hours or days EVERY TIME THEY BUY!?! Because they get excited and buy the rallies, and then the cartel brings down the TOMAHAWK CHOP! BUY INTO THEIR FANCY SMASHES! DO NOT CHASE THEIR BAITED RALLIES!!!