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<p>[QUOTE=&quot;qsilver007, post: 1477763, member: 34667&quot;]AN UPDATE FROM A WALL STREET PERSPECTIVE..........BY QSILVER</p><p><br /></p><p>Some of my statement may repeat each wekk, but i am simply passing on a view point from the tradig perspective to my fellow coin collectors.</p><p><br /></p><p>Last week, Gold glosed 1567, this week 1604, so a decent 3 percent rally</p><p>Last week, Silver closed 26.67 this week 27.58 so about 4 percent there</p><p>Platinum tacked on 20 bucks...................still a mind boggling 152 discount to Gold</p><p>Copper went from 3.30 a pound to 3.50, 7.5 % up</p><p>SP 500 up 3 percent</p><p>Crude oil WTI up 4.65 aroundd 4 percent as well.....................still trading 15% discount to Brent and most other grades all over the world</p><p>The EURO which is the &quot;fear&quot; trade, was up less than 1 cent .........</p><p><br /></p><p>The Futeres and ETF markets especially for the metals, and generally speaking for most other commodities, do rule the price as they are the fastest moving, and the algo trading machines can get in anout quick.&nbsp; Thye do not look at fundametals or manipulation.</p><p><br /></p><p>On the subject of manipulation, I am of the school that the metals do have higher powere selling them in our markets (COMEX).&nbsp; July Silver which was lead went into delivery Thursday night, so for those of you who want it, put 137,500 in a futures account and you can take 5000 oz off the market.&nbsp; </p><p><br /></p><p>The reality in trading, is most traders do not want the physical metlas, as the front future almost always trades discount to tht next month......Currently Gold is about 1.20 per month and Silver .03 per month.............So last dayy all the funds sell out there July, then re enter into this case sep as the margin is back down to 15,000, which for the same 137,000 it would cost to buy the 5000 oz, you can now control 45,000 oz.&nbsp; It the same in Corn, Crude, Bonds, EURO, etc, etc..................</p><p><br /></p><p>Options put volatility surged on Thursday as many short term traders tried to bet silver was going to break the 26 handle and Gold the 1550 handle, onece again they were wrong.</p><p><br /></p><p>I stated last week that my belief was the lows for the year were in.&nbsp; </p><p><br /></p><p>Gold held its low and closed up on the week,</p><p><br /></p><p>Silver made a low for the year, broke last weeks lows by about 4o cents then closed up on the week major bull reversal</p><p><br /></p><p>What came out of the 2 day EURO SUMMITT???</p><p>NO CONCRETE NUMBERS, but all the algos were way too long the dollar and bond, and short everything else so most funds compounded there horrible returns for Q2 2012, on the last day of the quarter.</p><p><br /></p><p>WHAT DID COME OUT OF THE EURO SUMMITT???????</p><p>they are instating a PERMANENT BAILOUT FUND..................REPEAT..................PERMANENT BAILOUT FUND................</p><p><br /></p><p>the markets are far from being free and clear and Europe will remain a problem for at least&nbsp; 2 more years to come</p><p><br /></p><p>The ways out for Europe................Multiple defaults, disorderly dissolving of the EURO, will basically make 2008 look like a joke........</p><p>option 2 which is my belief.............The IMF and ECB are going to have to put a backstop number behind there words.................Street whisper numbers are beteen 2.5 Trillion and 11 Trillion EUROS..........</p><p><br /></p><p>These are unfathomable numbers..........it seems rediculous, but thats how much toxic debt is out there</p><p><br /></p><p>Conclusion:&nbsp; I am sticking with the theory that all futures markets have been and will be dominated by machines who are purely out for money, they do not want physical metal</p><p>The Low for Gold is definetely behind us............Silver&#039;s reversal combined with the huge panic put buys late Thursday sets up for a nice trend reversal pattern, major near by resistance areas are 28ish and 29.75..........if Silver can, and I believe it can, clear these numbers, being back above thirty will attract more buyers and short covering funds who sold in the 26 dollar handle.</p><p><br /></p><p>As steted earlier I am a Wall Streeter by day, but also collect coins and believe Silver and Gold are the only true currencies, so the timing was pretty good in Gold, slightyly off in Silver, but really whats 1% in Silver now adays...........I hope this info is useful and helpful to some of you.............I have received some nice messages, so I will continue to put out an update when I can......</p><p><br /></p><p>Everyone have a Great 4th of July..............COMEX GLOBEX is open July 3rd nite normal time early close rought 1:00 pm eastern on 4th of July..............PM&#039;s are still being traded on every other exchange, normal hours.......</p><p><br /></p><p>............One last note.............Last July 3rd Gold was nudgin lower at around 1485.............it rallied 13 dollars on 4th of July and broke thru 1500 on European fears..................&nbsp; Traders continued to get Burned in the Dollar, Bonds, the yen, Swissie, all the so called SAFE HAVENS..............its been a nasty few months fro precious metals longs, with open interest in Silver futures on COMEX at the lowest since 2004.............that was a major low remember........................Gold and Silver will have ups and downs, but when its all said and done they were money before all of us were here and will be long after................</p><p><br /></p><p>Closing stetement.............In honor of the fourth of July, look back at the Constitution and Declaration of Independence..............&quot;ALL MONEY SHALL BE BACKED BY GRAINS OF GOLD AND SILVER...............&quot;</p><p><br /></p><p>SINCERELY,</p><p>QSILVER007[/QUOTE]</p><p><br /></p>

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