The setup is there for us now for the retrace down to 1500, followed by a final rally back up to test the wedge. If we fail again, it could mark the technical top for the whole enchilada.
This came over the transom today:
I got a question for you guys, I've had a few hundred allocated silver bars I've been paying storage on since 2005. I decided I was paying too much as a safety deposit would be much cheaper. Today I took delivery at the bank of the bars after months of the run around trying to get the damn things. The bars I received were stamped with a 2012 mfg date. Have others had similar experiences, I'm thinking of suing for my storage fees back.Moral of the story. If he didn't get his silver back, at least he got some silver back.
I'm going to call on Monday to hear their explanation. None of the bars I have match the original serial numbers of the bars the auditing firm assured me were there. My worry is that they gave me someone else's bars.
Because I payed several thousand a year from them to hold a specific set of allocated bars. It looks like they sold me bars they didn't have in the first place. There is more to this story though, including a VP from JP Morgan calling me to ask what it would take for me to keep my bars in storage. When I finally said I want them now, they buried me in months of legal red tape and contract paperwork. For instance, they told me about 3 weeks into it that the bars were being moved, and I had to fill out new legal paperwork for the new storage facility. That took at least a month to process.
In the future, the only silverback will be in the gorilla den at the Woodland Park (Seattle) zoo.
The Smart Set here knows to go on rainy days, when the zoo amateurs stay home.