Monday, March 21, 2011


UP Over 2% today back over $36.00

Nice looking hourly candle chart here which has made some nice gains to approach close to it's previous resistance of $36.79 as the bull market continues so move in full throttle as Silver outperforms many other asset classes. The day started today with everything going higher in price from gold to oil to stocks and of course silver, but the white metal separated themselves from the others by continuing it's rally throughout the day. Stocks went neutral or sideways with a small basis to the downside as gold and oil sold some of their gains from the early session. Because of this the gold to silver ratio broke below 40 again as it's bear market continues meanwhile the price of silver in gold/mg is closing in on going over 800 and thus gaining on real money as well as its larger gains on fiat debt notes. The bias for the intermediate trend has been changed from Buy-Hold to Buy as I have been impressed with how the market has managed to get back above the five day moving average on the very first resistance test and thus making the previous breakout look as if is that of a failed move. If a fast move to were to finish that should mean a test at around $37.30 sometime this week and most likely early this week. Overall, the reason why both intermediate and long term trends are “BUY” is because we ain't seen nothing yet and we are only seeing the beginning stages of this massive upside explosion. The only thing stopping is some miracle in our currency actually having value and thus me being totally blind and clueless or the supply and demand factors to curve in the opposite direction. I don't like the chances of either one happening.


1 comment:

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