Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: critical_mass who wrote (42524)	4/13/2013 3:22:07 PM
From: benwood	Read Replies (1) of 48092

There are two contrary indicators I've become aware of, no data to support it, just anecdotal... but I recall that premiums were escalating rapidly at the silver top and also the gold top of near 1900. I believe escalating premium's are a contrary indicator because it's nearly entirely retail. I think the idea of the paper hammer sell off is to drive retail traders out of the market, and therefore premiums ought to be normal or even low... that's what I'm thinking anyway. The other thing was recent. When some fairly large miner said they were holding back silver until the prices firmed, well... that set off an alarm bell I'd have been well advised to heed. It reminded me of the oil tankers sitting outside of refineries after oil's GS-induced bubble popped in '08.

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