There's absolutely no recent news about Farmer or Red Kite Metals !!! I'll bet you he is long and trying to stay under the radar.
Why worry about "what's holding the market up"? Just wait for whatever force is holding it up to stop holding it up, then short.
CME Session Silver Market Report Thu 07 Feb 2013 11:08:25 CT Related Keywords: Metals March silver displayed a significant two sided trade early today into and through the US scheduled data flows. Surprisingly silver dove sharply into the data window, but then forged an impressive low to high run up of almost 30 cents an ounce. As in gold, some silver bulls were probably fretting over the news of declining productivity readings, as the Fed has historically used productivity readings as a major factor guiding their policies. It did seem as if silver was one of the weaker components of the metals complex this morning. I don't quite "get" the correlation here. One would think less productivity = higher chance of inflation = higher prices.
And reports like this are quite market-moving: http://www.marketwatch.com/story/ch...-january-2013-02-07?link=MW_story_latest_news Copper up 2 pennies on this news alone.
don't short that copper all the surprise is going to be on the upside it has been that way since the day I was born we have more supply than we know what to do with but it only takes a little demand and we don't know where we are going to get anymore spend some time down in Mexico and see how the deal works If you don't want to get your feet dirty, just go down to Douglas, AZ and watch it come across. Never been to China, but I imagine it is the same way.
My short bet would be a bet on a new crisis that will weaken global economies....or the fed pulling the plug on QE3. I think this is likely...but the timing baffles me. Could be 3 more months down the road.
Peter Schiff's calling for massive inflation makes the short argument look weak now. Once again, it's a matter of timing.