Just the latest on the cartel follow-through...

Regards - VHF

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Algo's On! Gold & Silver Update- PM's Raided to 6-Week Lows

SilverDoctors

March 6, 2012

Silver is selling off hard again this morning, down over 4% to $32.45 at one point. Perhaps those who continue to believe that silver is a freely traded market care to explain how exactly the past 3 day's silver charts are nearly identical?

Sure looks like free market forces to us, and not cartel and bullion bank algo's gunning the market. Sarc off.

We had been looking for support near $33, but that was taken out with the COMEX open in waterfall fashion. As I type silver is struggling to regain the $33 level. Should the sell-off continue, look for significant support to emerge in the $31-$31.50 level.

Silver is now down nearly 14% in a mere 4+ trading days, a correction that must be bought professionally (STACK THE SMACK!).

Please keep in mind that this entire correction is artificially induced (while silver was due a pause after a big run from $26 to $37.50) thanks to panic on the part of the cartel, who threw 225 million paper ounces of silver at the COMEX in 30 minutes coinciding with The Bernank's remarks to Congress last Thursday, just as silver was breaking out past $37.50 and attempting to make another run to $40. The cartel HAD to extinguish their fires and put the breaks to silver, to prevent an imminent challenge of the all-time nominal highs. Please understand the fundamentals that NOTHING HAS CHANGED, and the cartel has offered you another excellent opportunity to purchase weakness. Once again the COT data predicted this sharp correction, as the commercials more than doubled their net silver short position in the 5 weeks leading up to the event.

The cartel has once again stuffed gold back below $1700 today, inducing a sell-off to $1665, an excellent entry point for gold, as gold is currently at a 6 week low.