We have a giant Bullish Cup and handle formation in Silver now, Gold move to the new high must be confirmed by new high in Silver.
"First Gold will make new all time high, second will be M&A play: Majors will shop for Juniors with resources in the ground. Here is the double game - Gold is moving up and Majors' production and Reserve Base is going down. If you like more leverage you are welcome to Silver market. Place to be is in stories will strong management, growing resources and stable political situations. markets will be volatile by all means and political tensions will be driving this Gold Bull as well."
SAI:
"WHOA: NYP Says Federal Agents Have Launched Civil And Criminal Probes Into JPMorgan For Silver Manipulation
Joe Weisenthal May. 9, 2010, 4:43 PM 2,920 19
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The New York Post has an explosive exclusive, if true:
Federal agents have launched parallel criminal and civil probes of JPMorgan Chase and its trading activity in the precious metals market, The Post has learned.
The probes are centering on whether or not JPMorgan, a top derivatives holder in precious metals, acted improperly to depress the price of silver, sources said.
The Commodities Futures Trade Commission is looking into civil charges, and the Department of Justice's Antitrust Division is handling the criminal probe, according to sources, who did not wish to be identified due to the sensitive nature of the information.
That JPMorgan (JPM) has somehow been involved in silver market manipulation has been the source of rumor and speculation for a long time.
Things really heated up on this front in March, when a whistleblower was due to speak in Congress about commodity market manipulation, but was scrubbed from the list at the last second. That sent of all kinds of red flags. The New York Post was on the story then too, citing an outspoken trader named Andrew Maguire who claimed that JPMorgan and HSBC were doing the Fed's work in ceaselessly selling silver (nakedly) on behalf of the Fed in order to keep prices down.
If today's report is true, it would clearly indicate that at least at the regulatory level (if not the political level, where any financial reform is bound to be toothless), there's been a major shift in attitude. Add this to the civil charges against Goldman Sachs (GS), and the Moody's (MCO) Wells notice, and you're starting to see a trend."
See Also:
The New York Post has an explosive exclusive, if true:
Federal agents have launched parallel criminal and civil probes of JPMorgan Chase and its trading activity in the precious metals market, The Post has learned.
The probes are centering on whether or not JPMorgan, a top derivatives holder in precious metals, acted improperly to depress the price of silver, sources said.
The Commodities Futures Trade Commission is looking into civil charges, and the Department of Justice's Antitrust Division is handling the criminal probe, according to sources, who did not wish to be identified due to the sensitive nature of the information.
That JPMorgan (JPM) has somehow been involved in silver market manipulation has been the source of rumor and speculation for a long time.
Things really heated up on this front in March, when a whistleblower was due to speak in Congress about commodity market manipulation, but was scrubbed from the list at the last second. That sent of all kinds of red flags. The New York Post was on the story then too, citing an outspoken trader named Andrew Maguire who claimed that JPMorgan and HSBC were doing the Fed's work in ceaselessly selling silver (nakedly) on behalf of the Fed in order to keep prices down.
If today's report is true, it would clearly indicate that at least at the regulatory level (if not the political level, where any financial reform is bound to be toothless), there's been a major shift in attitude. Add this to the civil charges against Goldman Sachs (GS), and the Moody's (MCO) Wells notice, and you're starting to see a trend."
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