Tuesday, October 23, 2007

Molten Metal Melt Up

We have just received some unconfirmed reports that priests have been ushered onto the trading floor of the COMEX to read gold bears their last rites. Some of the priests were apparently reluctant to go in due to the searing heat caused by the roiling gold lava in the gold cauldron that has developed in the mountain of shorts which now threatens to blow up skyward and split, releasing the golden lava on the gold bears. Perhaps the Fed and the Treasury might use the current situation to refine some of their Depression Era coin melt, which is about all they have left. It's time for the commercial shorts to bend over and kiss it goodbye!
--Bob Chapman, The International Forecaster

For a little insight into how dire the shorts position in Gold stands right now read Bob Chapman's entire essay above that was posted Sunday, October 21 on GoldSeek.com.

Dem COMEX Rat Bastids may have finally met their demise...

Our little chart above attempts to put a face on the ass kicking these criminals are, and are about to, receive. In a nutshell...if nobody sells to the shorts, they have to cover at higher prices. These crooks are about to have the life squeezed out of them.

Risks to the downside in Gold and Silver are always present, but at this time look to be limited.

Silver is setting up for an explosive move to the upside and will be a tough train to catch once it leaves the station. Don't get left looking up the tracks... There "may" be one more opportunity to get cheap tickets for the trip to the Moon before the end of the month...but no assurances.

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