Posted on 05/13/2010 5:32:46 PM PDT by mamelukesabre
Shot up 2 bucks in 2 days I think!
Just wondering if anyone knows the explanation for why the sudden jump...
some must think that the euro won’t be worth much in the
near future, and they won’t give the US the satisfaction
of switching to dollars.
Soros.
In addition, the level of sovereign debt throughout the world brings into question the solvency of governments everywhere - this includes our own. The premiums paid for CDSs is suggestive that there are few safe havens.
So - where does one find something that is not, in essence, an obligation of a government or other entity? Something that cannot be debased with the flick of a switch? Ultimately, people seem to be migrating towards precious metals and away from paper. How long the trend will last is, of course, debatable.
Personally, I think some precious metals are an appropriate part of most portfolios. But each of us must find things suitable for ourselves.
Switch from lead to silver bullets? Werewolves don't just die on their own.
I think silver was at 18 for quite a while and then it dropped 50cents fairly rapidly. I figured it was going to pull back a couple more bucks and then I was going to buy a bunch of silver. Then this happens. Now I don’t know what to think. Is it going to skyrocket to 25/oz or is it going to settle back down to low 18 range again?
What I believe we’re seeing is the defacto remonotization of gold and silver. The two have until recently moved inversely to the dollar, but now are in lock step. No doubt about it; people all over the globe are fleeing bum-wad fiat currencies to the safety of the only thing that history and crooked politicians have been unable to corrupt.
Perhaps the vaporization of fiat currency may have something to do with it. And that euro thing might make a few people lose confidence in paper money.
On indicators, choose: MACD and RSI. Use the default settings. Note that RSI is at the top of its range, MACD probably could go up a bit more.
Now, on overlays, choose a 13 day and a 34 day EMA. Also, add a 50 day simple moving average. My take: Trend is up, right now we're overbought.
Support around $18.50. I would consider that as an entry point. It is unlikely to "skyrocket" to $25. Markets ebb and flow. More likely, it will advance, pull back, and advance again. If this is a bull market in precious metals, the key is to hang on. Unless you are prepared to be an active trader, expect to hold onto the position for years.
My opinion only, your mileage may vary, this is not financial advice, merely my opinion.
Just a guess but may be due to the Feds civil and criminal investigation of JP Morgan for manipulation of silver prices. They’ve been keeping the price down and now it’s going up where it should be. JMO.
Gold, Oil, Silver and raw farmland will be the kings of the hill.
If you are correct, then it would seem they are still fleeing TO the $US for safety also. Correct?
This may be nothing,,,but,,,:
http://www.freerepublic.com/focus/f-news/2513108/posts
I guess we’ll find out tomorrow...
This video explains it and other things but it’s long and I didn’t note the min/sec of where it covers the silver escapades.
http://inflation.us/videos.html
Nothing is happening to the value of silver. It is worth no more and no less than it was a week ago. The change is in the value of the dollar. The dollar is deteriorating more slowly than other fiat currencies, and thus appears to be “strengthening” relative to them. But they all are weakening relative to silver and gold.
For the time being anyway...
Check keyword “gold” for tons of articles, and you can mail me to get on the Goldbug Ping List.
Silver gained a dollar in 24 hours on Friday, which probably hasn’t happened in twenty years, and then it did it again on Tuesday.
Looks like it will be another good day today. When it jumps sharply at 8:15 ET, when NY commodities trading begins, that means “they” are going to make sure it goes up and stays up.
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