It is reaching eight o'clock new york dinner time and the market has been trading for about two hours and is up one percent so far for Monday's session. It has been holding the $38 level well as support so well that you can consider the $39 level being held which is even stronger. I don't know, maybe $40 will be support this week but what I do see is this chart pulling or breaking away from the sideways consolidation already above the rising eighteeen period average band. The odds favor continuation to the upside, but before we get there the previous break high of $40.87 last Tuesday. Last Monday silver broke into the forties and traded every day at some point above forty and every day below forty which meant at least once per day the market went above or below the forty handle. Because of the uptrend and the consolidation if the market does seem to explode further then the upper band is currently at $43.57 and rising which is an area I would expect it to move towards. If this does not happen and the breakout is fake so far then the bottom of the range of the eighteen period average of highs would be the expected area to watch for support.
The most recent cover of Money has a picture of some silver eagles that you may have seen on SGT Bull's video and subliminal messaging. I have choose to reply to this via blog rather than via video. I have a few points that I want to go over and if you want to watch either one or both of the two videos that was put out on this, they are embedded on the blog below this article. Apparently the Managing Editor from the MONEY magazine had the following to say about Gold: "...we don't think they're great investments. You've got to store them and insure them, and they're not so much 'investments' as they are items of speculation." He stated they don't think they are great investments and that is fine, because the speculation ultimately is if it is a good investment or not and there are many variables when deciding on any investment. The line that you have to store and insure them makes feel as if I should laugh and/or cry. This is correct to a point but would you refuse buying a shirt because you have to hang it up in the closet? The editor makes it sound likes it a hard job that makes it not worth it to have. When the author says silver/gold are not investments but more to items of speculation and this one is very easy to debunk. By google searching "investing definition" I was able to come across this site that tells me investing is defined as risking capital to make profitable returns. Therefore, it fits the definition one hundred percent for being such a thing in the case of gold and silver. This makes me wonder about the author because you would think that someone whom makes a magazine called "Money" would know what investing is.The author later stated in regards to gold/silver: "After all, you're not 'investing' in a business's earnings power or a governments entity's ability to foster progress." It is interesting how he stated that its not like you are getting into a company and thus we have seen shares in Lehman, Bear Sterns, AIG, Citi get clobbered as well as many other ones. How did they turn out? Many stocks are not doing so well and they trade in the exact same kind of format regarding bidders and askers. This shows that this is all speculation and why it would be sane and educational for banks and firms to tell their customers that this is gambling and not investing or for them to realize that investing is another word that can be used as gambling and thus it is recommended for people to do their homework and find gambles that have a positive ROI (Return on Investment).
Finally Craig states that people are making a bet that people will remain scared and I feel this line was dominated by "scared" for that of trying to scare people not to buy gold and silver. Then they point out that you have to be smart enough to sell before they stop being scared. This assumes that gold will blow off and never see these levels again like we seen in 1980 in a price denomination of that of currency. It seems like the author really wanted to rip the intelligence that people are going to lose on this bet even if they happen to have some early gains. This was written with the same kind of words that you hear over and over over the mainstream news networks by using big people like Buffett to get people to sway one direction or not. You will hear its bearish for gold that there are ATM's starting to dispense such an asset and how poor of a speculation this is.
Im going to use the final paragraph to reply to any of those people talking about investing in bad times or why its not good to cheer for the dollar to collapse. I'll begin with the hard times and when you are looking at investing you need to see what the message of the market is telling you and what does the message say today? The message states that we have a major awakening going on right now and thus when millions and hundreds of millions of earth citizens realize that they have been bombarded with guaranteed debt in a monopolized monetary system, what would you think the chances are that the dollar will survive? That's the Risk/Reward or determining how much of an advantage you have in making the wager. It's not my fault the time have to be coming to this now and this was not the wager to make in 1984 as the message of the market then seemed to show that consumerism and mainly computerization to be the next big thing. The MSFT and IBM investments are now finished and the message says the dollar must go. As far as those people whom say that they don't want this to happen or why would you want this to happen I reply with one word containing four letters: DEBT! This is how our system is currently set up so that everyone is in major levels of such a degree that it causes much stress and anger in humanitarians. I think that is negative thinking and I think that is doomsday. Therefore I personally welcome the death of the dollar and I do so with open arms because I want to see progress for our species and the monetary system is getting in the way of progress. In order to move forward we must destroy what is holding us back.
SGTBULL - part 2 07.22.2011
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