Loading ...Silver Bears Everywhere – I Am BUYING!
Everywhere I turn there are silver(and gold) bears talking about an extended correction that is going significantly lower and last for as long as year end. I don’t see it that way and am adding and calling a low here. We may not “go to the moon” immediately, but that move to 28 and then 30 could occur at any time. Once 30 is taken out the road to 50 could happen quickly. 50 being breached and held takes you to the moon but let’s not get ahead of ourselves. For now I just want to see an end to the decline and a sustained move higher. It may be quick or slow and steady. I love Silver.
Being a PM permabull is dangerous to one’s financial health. I believe in this case that the gold and silver bears are correct and I’m willing to wait. In the shares there are significant gaps to be filled near the October 2022 lows.
Chartmaster,
Look at GLD….
thanks
Not sure what about GLD? It obviously tracks gold but I don’t follow it and don’t want to trade it because it is phony paper and not actually holding gold.
A well respected Goldtenter of yesteryear once said, “If you see a double top, short it.”
I might add, if you don’t want to short it, at least get out of the way until there is pattern evidence of a reversal.
Silver put in a handsome double top between early April and mid May this year.
IMHO the physical metal is for hoarding, and the miners, being much more volatile, are for trading.
Best of good old Irish luck in your endeavors, CM.
Thanks for the good wishes. I don’t consider silver as having made a double top. It made a higher high on it’s last rally, unlike on your chart that first double top all the way towards the left.If silver rallies from here and then fails below the 26+ high, that would be a double top.
Over the past few years there have been many brief opportunities to acquire physical under $25 (not spot but ASW ozt) – cheap insurance for a house presently on fire.
It’s still fairly easy to get – my last purchase just 1 week ago (LCS) was $40FV Can 80% junk priced at $25.15 per ozt ASW. They aren’t making any more of it and it pretty much serves the same purpose as high priced US Junk.
Canadian junk silver 1967 or older is 0.6 ozt per $1. face value.
My personal favorite is the silver dollar featuring the canoe w/ the couereur de bois and native fur trader.
I keep one in my desk, 1966 minted, and take it out to admire now and then. I like the feel of it.
The first one minted was 1935, I think. I have a ’36 and a ’37, and hope to find a ’35 at a reasonable price.