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Katwoman
6th December 2009, 11:48
The rally in PMs this year was evident to anyone with a little common sense even before it occurred.

As PMs prices climb higher in the future the "feeling" that the market is overbought or in a bubble will only intensify. But unless the fundamentals change there is no reason to change your position or inclination to accumulate more PMs. No matter how high prices get they will have the propensity to go even higher until the US dollar completely collapses. Since there is no historical precedent upon which to concur the the USD is destined to survive forever common sense dictates that it will run its course and then go the way every other fiat currency in recorded history which is down the toilet. Gold and silver on the other hand have been around since the beginning of recorded time and nothing will change the inherent value of these "precious" metals.

That said, you will know the market has topped if and only if the FED comes up a documentable irrefutable means to pay off the national debt without inflation or the USD collapses in a hyperinflation. Nothing else will significantly alter the direction of this market.

ccjoe
6th December 2009, 17:31
By Friday this week
silver--21
gold---1275
dollar--74

SilverJim
6th December 2009, 17:55
I like your thinking there Joe. Hope it happens. :)

mark2112gum
6th December 2009, 18:22
and Joe, speaking of the US buck, it was at .74 for several days last week. Then Friday came along and it increased by over a full cent, WTF! The big boys are playing again, little guys can do nothing but sit a watch.

Where's the logic!

realmoney
6th December 2009, 18:42
You can already smell the fear of weak hands quickly selling. Great news for the rest of us!

I'll probably wait a few days to see how things shake out before pulling the trigger on a big purchase. Will be a very happy Christmas!

RM

UmassSteve
6th December 2009, 19:23
Out of curiosity...Joe, how many weeks in a row have you been calling for 21 silver by the end of the week?

mark2112gum
6th December 2009, 19:38
Out of curiosity...Joe, how many weeks in a row have you been calling for 21 silver by the end of the week?

Good Point...an good for a chuckle too......But eventually he'll be right :)))

tim
6th December 2009, 19:48
silver at 21 at the end of next week ...........

SilverMeTimbers
6th December 2009, 21:36
I dont know about hitting 21 bucks anytime soon. Silver is heading into a cyclical point and it has bearly sat above a 19 dollar high over the last month. I don't want to be the bear in the punch bowl but I think we all will see a great buying opportunity in Jan '10 at somewhere below 18/17 dollars when the "weak hands" sell out of fear or year end profits. Plus, for the past two months the unemployment numbers have been revised up. If Nov. numbers follow that moving average there will positive growth for the first time in awhile which could very well strengthen the dollar as it did on Fri. Kitco as of 9:25pm EST has our metal falling to $18.11 so that cyclical trend suggesting a downturn may in fact already be upon us. But I am new to this silver world and I don't know anyone personally to test my theories on so I'd love counterpoint to that idea of a correction.

Katwoman
6th December 2009, 21:38
Granted as I have stated we could see $17.40 but this will not be a correction per the Eliot wave prediction but rather just a minor pullback on the way to the top.

ccjoe
7th December 2009, 04:00
Out of curiosity...Joe, how many weeks in a row have you been calling for 21 silver by the end of the week?

A broken clock has been right more often than me:)
Silver getting pummelled and the dollar up..
I feel like giving up sometimes:)

ccjoe
7th December 2009, 04:01
Good Point...an good for a chuckle too......But eventually he'll be right :)))

Maybe NOT:)