MIDAS Alert: So Far Tonite Gold And Silver Doing Just What They Should Be Doing
posted on
Jul 03, 2012 01:32AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Le Metropole Members,
We shall see how this plays out tomorrow and ahead of our July 4th holiday in the US. But, for now, and you know I don't do this very often, gold and silver are playing out to script. The price of gold is $1602 and the price of silver is $27.65 ... which means both precious metals are catching bids in Asia.
What I mean by playing out to script is that I have NEVER seen so little excitement about gold and silver following the MEGA moves we had on Friday. In my book that sort of reaction is unprecendented. As you ALL know, this has me pounding the table that much higher moves are imminent.
This may be the proverbial kiss of death ... me putting this out ... but, if The Cartel is so infantile, so be it for a few more days. My assessment is either right, or wrong.
The key, and one which suggests a Gold Cartel retreat, will be when gold takes out $1608 and silver blows through $27.95. That was mentioned with emphasis in MIDAS.
In terms of the shares, the HUI needs to blow through 432 to get back on solid ground. On that note, some of you might want to look at the technical picture of one of the worst investments of my life, but one that I still believe has home run potential and that is Golden Minerals, which took over ECU Silver. The price of this takeover stock is back to where it was when I first bought ECU in 1999.
And that is with XYZ good stuff happening and the price of silver going up 800%.
In NO WAY am I suggesting anyone buy this dog (which is still my largest holding), but please view it in the context of a Gold Cartel retreat. Today Golden Minerals mysteriously rose substantially while the HUI, gold, and silver did nothing. See...
http://www.stockwatch.com/Quote/Detail.aspx?symbol=AUMN®ion=U
This beaten up wreck of a stock is now at the top end of a yearly downtrend line which began after ECU Silver merged with Golden Minerals. It was supposed to be a merger of mutual interests and turned out to be a merger of mutual stink up the place ... at least in terms of what the stock price did.
The merger price was 20 and now Golden Minerals has rallied to a pathetic $4.76 per share.
Why am I going there? There is no doubt in my mind that this stock is part of a grand gold/silver share price manipulation scheme ... one that dates back to JP Morgan borrowing shares from the Oppenheimer Gold Fund more than five years ago, which was PUBLIC INFORMATION.
My gut tells me The Gold Cartel is about to retreat and there will be no better indication (TO ME), of a Gold Cartel retreat than if this stock can blow to the upside and take out $6 resistance. If so, then this share price could go bonkers as the share manipulators are forced to cover!
This is NOT to suggest anyone buy this stock, but to watch its price action as to whether this MIDAS analysis is on the money in a bigger picture gold/silver share stock sense. Funny enough, I always avoided conspiracy theories about JPM going after me because of my sponsorship of ECU, now Golden Minerals. BUT, as a result of what has been brought to my attention of late, I know think they might be right.
Time will tell. Tomorrow's action will be brief, but most enlightening.
Bill Murphy