Michael Ballanger dissects Friday’s Commitment of Traders Report and whether it indicates bullish or bearish movements.
Last night as I sat in the den looking at a picture of my 1970–1971 Saint Catharines Black Hawks OHA championship team with a VERY young captain named Marcel Dionne smiling into the camera, I was suddenly slammed in the face with how quickly the years have passed. I remember that we knew it all; we were playing in the same uniforms as Stan Mikita and Bobby Hull and Bernie Parent and were certain to be on the back of cereal boxes before we got out of high school. We were living the dream and it took another decade for me to get that dream behind me, despite the fact that one can never ever forget being on the ice in front of 20,000 screaming fans.
Similarly, I have been living another “dream” of sorts since the mid-1970s—to be recognized as an expert in the field of precious metals and mining companies and while fame and recognition have flown in and out of my room more than a few times, they are best described as fleeting at best and illusory at worst. What most of us think of as notoriety is actually self-imagined importance in the world of financial forecasting because, as the great Gordie Howe used to tell the rookies, “Son, you are only as good as your last shift.”
Which brings me to the topic of today’s gold and silver prices and the importance of the Commitment of Traders Report (COT), which has everyone on the planet claiming it as their private analytical tool. Every newsletter writer or blogger whether they wear a big funny cowboy hat and carry an off-color moniker or not is now screaming from rooftops that “I wrote about …read more