Apparently, silver was supposed to continue its parabolic climb unopposed.
That's certainly the message at least one commentator is delivering now that silver has sold off for two whole days. This horrific sell-off, according to Jeff Nielsen of Bullion Bulls Canada, is all manipulation at the hands of the big US banks, with a little propaganda help from the US government after you-know-who was reported killed on Sunday.
Jeff Nielsen is a good writer who, unfortunately, is always looking for a "Darth Vader dark side" conspiracy any time precious metals don't do exactly what he thinks they should be doing. Here is his latest commentary:
Technicals and simple profit-taking couldn't possibly have had anything to do with silver's latest pullback. No! It had to be an orchestrated effort between big brother propaganda and big bank price manipulation. Silver, after all, is supposed to go straight up. If it doesn't, well ..... it just has to be anything other than profit-taking and a ridiculously over-extended chart.
We're all entitled to our opinions and as far as I'm concerned, this was nothing more than a technical takedown. People take profits, and that's the long and short of it.
Silver vs the S&P500
