The impending silver price explosion

[crhstreetwalker]

$21.47 this morning. Not looking so good today..

 

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[jim4silver]

$21.47 this morning. Not looking so good today..

Tomorrow Yellen is going to be giving her report on monetary policy to US lawmakers. My personal hope is that she spooks the crap out of the markets and we get a stock correction (I want my SPXU to gain LOL!). I have no clue which way markets are going to react, but I believe it will cause a rather large move either way. As far as how it affects PMs I am going to "guess" that perhaps PMs will track what stocks do tomorrow and maybe for a few days, either up or down. The "commercials" have been super-duper loading up on their short positions per the last couple of COT reports, but those are dated by the time the news gets released. I would not sell my PMs, but maybe wait on buying more to see if we get a nice dip. Generally the "commercials" are seen as the smart money, but they are not always right. Further, one thing that has been in the back of my mind is that in the past, the bottom for PMs always is a V bottom and we have had several W's so maybe they want to create that final dip (this would require a drop lower than the low last summer). I don't see that coming, but I have not seen the last 2 years market action coming either so it would not surprise me a bit. Either way, PMs will be the next in-thing, whether that is in March or October, etc. I am sure the poor fools that got into Bitcoin at 1000 or so are still licking their wounds. Hopefully those folks will go to PMs (or come back to them as the case may be).


Senate banking committee says Fed's Yellen to testify Feb. 27 | Reuters

Just my opinion.

Jim

 

[FreedomUIC]

Silver is getting slapped down a little this morning along with Gold and everything else.

Glad I waited to buy some.

 

[crhstreetwalker]

Tomorrow Yellen is going to be giving her report on monetary policy to US lawmakers. My personal hope is that she spooks the crap out of the markets and we get a stock correction (I want my SPXU to gain LOL!). I have no clue which way markets are going to react, but I believe it will cause a rather large move either way. As far as how it affects PMs I am going to "guess" that perhaps PMs will track what stocks do tomorrow and maybe for a few days, either up or down. The "commercials" have been super-duper loading up on their short positions per the last couple of COT reports, but those are dated by the time the news gets released. I would not sell my PMs, but maybe wait on buying more to see if we get a nice dip. Generally the "commercials" are seen as the smart money, but they are not always right. Further, one thing that has been in the back of my mind is that in the past, the bottom for PMs always is a V bottom and we have had several W's so maybe they want to create that final dip (this would require a drop lower than the low last summer). I don't see that coming, but I have not seen the last 2 years market action coming either so it would not surprise me a bit. Either way, PMs will be the next in-thing, whether that is in March or October, etc. I am sure the poor fools that got into Bitcoin at 1000 or so are still licking their wounds. Hopefully those folks will go to PMs (or come back to them as the case may be).


Senate banking committee says Fed's Yellen to testify Feb. 27 | Reuters

Just my opinion.

Jim

I'm going to take another shot in the dark and say the dip to $21 today was a correction and is now going to be steadily rising.

 

[Marchas45]

I've already stated that $22 is the resistance, when it goes through that then we will see what happens. Lol

 

[crhstreetwalker]

I've already stated that $22 is the resistance, when it goes through that then we will see what happens. Lol

It was already at $22, but not for long.

 

[dandelatorre]

When silver is turned loose, who know where it will go. The 5000 year average ratio to gold is approximately 15:1, but at one time Ancient China had it at 4:1, and the Egyptian Empire had it at 1:1.

Unless something happens beyond the control of the manipulators (most notably JP Morgan), I don't believe any meaningful increases will occur.

I bought physical silver when it was at $20/$21, before it went up to almost $50, but greed got the better of me... it's still in the vault.

Great site. I'm brand new here, but have been around for 70 years, and still looking for Treasures that walk on two legs.

 

[YumaMarc]

When silver is turned loose, who know where it will go. The 5000 year average ratio to gold is approximately 15:1, but at one time Ancient China had it at 4:1, and the Egyptian Empire had it at 1:1. Unless something happens beyond the control of the manipulators (most notably JP Morgan), I don't believe any meaningful increases will occur. I bought physical silver when it was at $20/$21, before it went up to almost $50, but greed got the better of me... it's still in the vault. Great site. I'm brand new here, but have been around for 70 years, and still looking for Treasures that walk on two legs.

In my own selfish way I hope silver DOESN'T go up. I'll continue to hang onto any I come across, but if silver rises, so will gold. That usually means a dollar fall against other world currencies. Right now the dollar is rising constantly against the Honduran Lempira which means any dollars I have in the bank are earning a good interest in addition to what the bank provides. All my bills here go down as the dollar goes up, so I can live without any major turnaround.

But if silver and gold skyrocket, I'll just go to Plan B.

 

[jim4silver]

Great site. I'm brand new here, but have been around for 70 years, and still looking for Treasures that walk on two legs.

Sometimes those kinds of "treasures" wind up costing you more than gold, silver, bitcoin, etc. LOL!

 

[YumaMarc]

Sometimes those kinds of "treasures" wind up costing you more than gold, silver, bitcoin, etc. LOL!

True! But I live in a place that is OVERRUN with those, and many are TREASURES, INDEED! Some of the most beautiful on earth, and all ya gotta do is get here! lol

 

[Peyton Manning]

When silver is turned loose, who know where it will go. The 5000 year average ratio to gold is approximately 15:1, but at one time Ancient China had it at 4:1, and the Egyptian Empire had it at 1:1.

Unless something happens beyond the control of the manipulators (most notably JP Morgan), I don't believe any meaningful increases will occur.

I bought physical silver when it was at $20/$21, before it went up to almost $50, but greed got the better of me... it's still in the vault.

Great site. I'm brand new here, but have been around for 70 years, and still looking for Treasures that walk on two legs.

you talking squatch?

 

[Peyton Manning]

silver will go up this summer, trust me