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<p>[QUOTE=&quot;qsilver007, post: 1512251, member: 34667&quot;]FROM A WALL STREET PERSPECTIVE THURSDAY AUGUST 16TH UPDATE</p><p>Precious metals option volatilities made 5 years lows yesterday to pre 2007 subprime crisis levels</p><p><br /></p><p>yesterday silver had an attack on the european open dropped 45 cents with nothing else really moving</p><p><br /></p><p>brent crude priced in euros cleared 93 eu per barrell all time high is 96, yet no govt says there is any inflation</p><p><br /></p><p>at 10:55 am today Platinum made a sharp 30 dollar move up on no news, report of violence and rioting at a mine in south afrcia have been happening all week, i guess th machines chose to cover there short on the re release of news today</p><p><br /></p><p>for those who like gold at 1620 platinum although it has rallied 50 dollars today is still 187 dollar discount to gold which makes no sense many platinum mines are closing and hlating production in south africa rival unions are literally killing each other to work for lower wages, this trade may take a long time to iron out, but within 6 months it will be trading huge perium to gold again</p><p><br /></p><p>the gold silver ratio is quietly forming a botton at the 58:1 area since us traders are in the dec forward which is 9 cents higher than te sep future which is 3 cents higher than cash the ratio is breaking thru its 50 day moving average of 57.7:1</p><p><br /></p><p>Gold and Silver keep knocking on the door of the higher end of there ranges 1630 and 28.30 respectivly and each time are getting turned away</p><p><br /></p><p>SLV and GLD investors are sittiing tight while the algo machines get shaken out every day</p><p><br /></p><p>the longer silver can hold above 28, it will eventually get thru 28.30 and then make a run toward 29.40 and 30 ultimately, i have higher aspirations, but we must crawl before we walk</p><p><br /></p><p>the mainstream media is really reporting no new news out of europe, so the trading machines contiune to buy everything accept gold and silver</p><p><br /></p><p>10:55 am eastern today was a major deal in the precious metals sector as this was the first parabolic move up by any metal in a long time, a lot of algos got caught short adn in the thinly trade platinum market they must pay</p><p><br /></p><p>as for my personal thought with the general stock market near the years high, and options vols near 5-6 year lows something bad will be announced very soon</p><p><br /></p><p>we al know the us debt is a problem</p><p><br /></p><p>high grain and energy prices are not going to help</p><p><br /></p><p>europe is still in a major crisis, but the olympics side tracked everyone for a while</p><p><br /></p><p>i dont know how the precious metals will react in a crisis sitaution i am hoping up, but be prepared for some of the stocks and commodities to get major haircuts in the next few days or weeks</p><p><br /></p><p>unless we are going into the hyper inflation environment fron the tens of trillions created since 2008 and the global ZIRP rates time will tell</p><p><br /></p><p>i will write again this weekend[/QUOTE]</p><p><br /></p>

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