|
|
Rank: Advanced Member
Joined: 10/21/2007
Posts: 53
|
This one's for you nextbigthing. You've been bugging me for days about posting a silver breakout alert. Well - here it is. I prefer to wait for a weekly close above the resistance line, but this silver move has been very decisive. It's a real breakout and not just a poke above the resistance line. However, I'm always prepared for pullbacks (during which I may purchase more silver).
bigpicinvestor attached the following image(s):
|
|
|
|
|
|
Rank: Advanced Member
Joined: 10/9/2007
Posts: 45
|
Thanks for the post! Finally I get my silver breakout. I'm loading up the truck as the price keeps moving up. Silver will not be held back this time. If you're interested in the fundamentals behind the current silver bull market, check out the recent Interview with Ted Butler.Cook: How much silver was there above ground one hundred years ago? Butler: My research indicates about 12 billion ounces of silver and about one billion ounces of gold. Cook: And today? Butler: Almost the reverse – one billion ounces of silver and five billion ounces of gold. Cook: How can that be? Butler: We consume silver while we accumulate gold. Cook: Is the known silver literally being used up? Butler: Wrong tense, it has been literally used up. Cook: Disappearing from earth? Butler: In practical terms yes. It’s not vaporized, but has been put into a form that is largely non-recoverable. Or, at the very least, unrecoverable at anything but super high prices.
|
|
Rank: Advanced Member
Joined: 10/21/2007
Posts: 53
|
nextbigthing, Silver has just experienced a failed breakout over the last 6 weeks, as shown in the chart below. If silver can break above the red trendline shown in the chart, then we may have another try at this upleg. This precious metal bull market is shaking off all the non-believers. I prefer to be skeptical, but always hold a core position as part of my investments.
bigpicinvestor attached the following image(s):
|
|
Rank: Member
Joined: 10/14/2007
Posts: 16
|
Silver is close to breaking out on a short term basis. If the price can stay above 14.5 for a few days, then do we think we're going to be off to the races? Will silver hit the 20s in 2008?
|
|
Rank: Advanced Member
Joined: 10/9/2007
Posts: 45
|
Silver (and gold) are doing well today. Silver is above 14.5 and is holding strong. Is the market finally warming up to precious metals? With oil above $90 (in US dollars), I'd think that gold and silver should soon match that performance. That's one reason I'd rather be in precious metals as opposed to oil, namely, that gold and silver are undervalued relative to oil.
|
|
Rank: Administration
Joined: 10/7/2007
Posts: 186
|
WOW! Look at silver today. I think a run to 20 is a given in 2008. This is going to be one heck of a precious metal rally. Suppose that's what happens when crocks control the money supply and government.
|
|
Rank: Member
Joined: 10/10/2007
Posts: 11
|
Yes, that is neat. Makes me feel scared a bit: seems like there are no true objective values to rely on in the long run. Gold, silver, bronze, wood ... At the same time it probably should be this way.
|
|
Rank: Member
Joined: 10/14/2007
Posts: 16
|
UserName101 wrote:Yes, that is neat. Makes me feel scared a bit: seems like there are no true objective values to rely on in the long run. Gold, silver, bronze, wood ... At the same time it probably should be this way. Everyone, Thanks for opening my eyes to the big trends. Silver is doing really well and you all did an excellent good of spotting this major breakout in the precious metals complex. Are we still just sitting tight on our positions?
|
|
|
Guest |