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Tuesday, December 30, 2014

And someone else is playing peek-a-boo


Hey, look at silver:


Even trashy ol' silver is peeking over its Bollinger mean and SMA(50).

Even though silver's in a production surplus.

Even though it's a throwaway byproduct metal of zinc and lead mining.

And even though it's an industrial metal, and supposedly worldwide industrial production has collapsed, what with Chinese GDP only growing in 2014 by about $650 billion this year and US GDP this year growing by about the same amount.

Cuz y'see that's what a collapse in industrial production looks like.

Anyway, metals are interesting again.

Too bad it's December 30th and we can't trust these sorts of bullshit moves on a low-volume day like today.

Oh well. Mickey Fulp, if you're reading this, we're all counting on your prediction of a Jan-Feb miners bounce! Prepare for a very sore nose at PDAC if you turn out to be wrong!


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