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Silver Going Up???
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Thread: Silver Going Up???

  1. #1
    Join Date
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    Default Silver Going Up???

    http://goldprice.org/silver-and-gold...ce-and-31.html

    The GOLD PRICE was easier to read today than the SILVER PRICE. It dropped back to support at 918.75, then closed higher -- oh, yes, down for the day, but that doesn't tell the whole story. Markets very often -- most of the time -- after a breakout will fall back to the breakout point (resistance now become support) in what I call a touchback. Think of baseball, where after a fly out the runner has to run back and tag the base before he runs to the next base. Same idea.

    The SILVER PRICE has established short term support now at $17.20. Today it lost 20 cents to close at $17.42 cents, still well above the 50 day moving average (DMA, now $17.06) and within the uptrend. I expect silver and gold prices to rise tomorrow or the next day, because they have broken out of their correction range and begun the next leg up. By end October $1,300 gold price and $31 silver price are possible. I'm holding back. If the gold/silver ratio drops to 35:1, where it's next move ought to stop, $1,300 gold puts the silver at $37.14.

    Yea, it soundeth crazy to me, too, but I have consistently underestimated this bull market's strength. I'm learning that these numbers are possible, indeed, likely. Be ready for surprises.

    If y'all have not yet bought or added silver and gold, now's the time.

    Most of the day the Dow knocked on the ceiling at 11,440, but couldn't break through. Then it couldn't break through 11,400, and toward day's end it just waterfalled down to 11,350, a measly 3.5 points gain. Friends, y'all are witnessing the decline I have so often warned you of. If you still have stocks, swap them for silver and gold -- before it's too late.

    The US DOLLAR index today rose about 15 basis points, after dropping to a new low for the move. After four down days, that has the look of a stop-and-turn-around, but the dollar is so sick it's hard to tell. It certainly offers no big challenge to gold or silver any time soon.


    Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

    - Franklin Sanders, The Moneychanger

    "Buy Silver and Gold Coins at the Best Prices"
    The-MoneyChanger.com

    To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down

  2. #2
    Join Date
    Jun 2008
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    Default

    Quote Originally Posted by LETMYSILVERGO View Post
    . To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down
    I like this guy.....thinks like me ($200 silver)

  3. #3
    Join Date
    Jun 2008
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    31

    Default

    I will be adding all the way up to $200 an ounce!

  4. #4
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    Feb 2008
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    Default

    Quote Originally Posted by SilverHawk View Post
    I like this guy.....thinks like me ($200 silver)

    I do too.

    But, if you are not fundamentally long in perspective, he (and most of the other guys) can seem frustrating. He has not been very successful in many of the short term trends this year. And why should we expect anyone to pick this correctly in a volatile market?

    So the answer to the OP is, yes, it is. But don't ask when. Is it going to get killed? I am pretty confident that that will not happen this year.

    My prediction: a near term run up above 19, perhaps touching 19, with another buy opportunity between 17 and 18 before the end of the month.
    Last edited by prahudka; 2nd July 2008 at 12:18.

  5. #5
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    Default

    But you hit the crux of the issue in the statement "long term". If we all truly believe that silver could eventually tip $30, $40, $50 or higher, than even in today's rallies at the mid 18's, buyers are still getting their gains. I bought the bulk of my silver at $10, then again at $16. I'm in it for the long term, but the it seems so much more volatile than it has been in recent years...we gained almost $1 today at one point. Who says next week we won't be back to $16-$17? I'm SOOOOOO no-good at projectionist models.

  6. #6
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    Mar 2008
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    My local coin shop guy says PM always goes down after a holiday....let's see if he's right Monday...

  7. #7
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    Quote Originally Posted by hiyosilver View Post
    My local coin shop guy says PM always goes down after a holiday....let's see if he's right Monday...
    My guy told me the same thing, but I'm not counting my chickens this time. We are not in an "average" fiat cycle right now. With a 20% bear market announcement, and no strategy behind strengthening the dollar, I don't know what to think anymore.

  8. #8
    Join Date
    Feb 2008
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    Quote Originally Posted by balou2 View Post
    My guy told me the same thing, but I'm not counting my chickens this time. We are not in an "average" fiat cycle right now. With a 20% bear market announcement, and no strategy behind strengthening the dollar, I don't know what to think anymore.

    You got that right, no plan.I heard this afternoon on the radio the EU will be meeting over our holiday to raise interest rates on the US dollar and beat the dollar down further, I guess we will see.
    if you don't hold it, you don't own it.

  9. #9
    duneyman Guest

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    Long term silver should do just fine but it took about a year and a half for silver to surpass the April 2004 highs and an equally long time to go over the price reached in May 2006. Will it take until the autumn of 2009 for silver to decisively break through 21 an ounce ? I sure hope not but it wouldn't really surprise me.


    Bill

  10. #10
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    Quote Originally Posted by duneyman View Post
    Long term silver should do just fine but it took about a year and a half for silver to surpass the April 2004 highs and an equally long time to go over the price reached in May 2006. Will it take until the autumn of 2009 for silver to decisively break through 21 an ounce ? I sure hope not but it wouldn't really surprise me.


    Bill
    That's precisely why I've said I believe we'll see it in the $16-$17 range before it goes up. Though, with EUB raising rates, it could actually drive silver higher. As I've also said...I have no true projectionist talent! Just a gut.

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