Thursday, January 13, 2011

01.13.2011








The market had some difficulty today as it continues to range within' a $28-$30 level. Do not throw out the idea that this might be a range from $25-$30 as a fifty day average break is the next direction for downside movement. That is to $25 and $26 area which would keep us bullish. When we are above the 76.4% level (as we barely are now) that means we are very bullish. When we are below the 76.4% and above the 61.8% then we are somewhat bullish. Thats why $25 - $26 is not only have a good chance of holding, but is also necessary to keep this bull market alive. If it dips below $25 then the market heads to neutral and the silverbugs around the world will be sayin' "Damn You JP Morgan!" or "Thank You JP Morgan!" The Thank you will come to those whom still have fiat dollars left over to buy more bullion because they know whether the price goes up or down means crap! The 4 up day sending Silver from $37 to $41 later this year will mean just as much as a move from $28 to $24. This is because the price is being determined by world wide traders, which the biggest financial institutional firms have the mass control. This would be alright if the Comex actually had all the silver and delivered all that was available. However, those whom have researched have probably come to the conclusion that Silver is a big time fractional reserve market.

2 comments:

  1. Hi

    just let to you know I linked your blog on mine:

    http://preciousmetalsnews.blogspot.com/

    ReplyDelete