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August 15, 2018 | Bullion’s Harsh Realities

Rick Ackerman

Rick Ackerman is the editor of Rick’s Picks, an online service geared to traders of stocks, options, index futures and commodities. His detailed trading strategies have appeared since the early 1990s in Black Box Forecasts, a newsletter he founded that originally was geared to professional option traders. Barron’s once labeled him an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case. He received a $200,000 reward when a conviction resulted, and the story was retold on TV’s FBI: The Untold Story. His professional background includes 12 years as a market maker in the pits of the Pacific Coast Exchange, three as an investigator with renowned San Francisco private eye Hal Lipset, seven as a reporter and newspaper editor, three as a columnist for the Sunday San Francisco Examiner, and two decades as a contributor to publications ranging from Barron’s to The Antiquarian Bookman to Fleet Street Letter and Utne Reader.

With the devastation in gold and silver picking up pace, I’ve updated my touts below to reflect, not wishful thinking and the fervent hopes of bullion investors, but the harsh realities of disinterested technical analysis. Some in the Rick’s Picks chat room seem to think bulls have suffered enough pain already for precious-metal quotes to go much lower. They could be right, but based on the evidence I’ve presented in today’s charts, I doubt it. Many terrific little mining companies are likely to go out of business, and if they are acquired by bigger companies, it may not be on very favorable terms, since the larger companies themselves are, or soon will be, stretched very thin.

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August 15th, 2018

Posted In: Rick's Picks

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