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| Just a bit over 2 years ago. Posted by yours truly May 2004. "Silver looks very good in here in my opinion. The 5.59 level was the breakout level before silver romped to 8.50, then back to the breakout level. Pullbacks to breakouts are common. The fundamentals of silver are too strong and the lack of fiscal responsibility of the US is too great. I see silver moving to over 10 within a year or two with an eventual move to 25 or more." And the gold silver ratio contracting again is a good sign of an overall metals bull continuing. Up 3% today. The intermediate breakout I had around 11.88. Pushed though that level, backed off to about that level and now off and apparently running again. I stand by 20-25 dollars within 2 more years. The big wide card is the Leo Wanta story which I don't know how to interpret. Just my opinion. I believe in the "shot until miss" philosophy so you guys should tolerate my rare posts until then! |
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| BG, Friday's finish was disappointing after a good start. British Petroleum shuts down US largest oil field in Alaska. Nikkei off 2%. Going with DOWN on Monday. ---------------------------------------------------------------------------- HedgeKing Silver has been on a good run, recently hitting 14.97 on the COMEX. Given the balance sheet for the US, silver will probably do well over the coming decade. Also there's the increasing demand from developing nations like China. New technologies may very well increase demand. Silver has been spiking and it may be a good time for a speculator to take a saddle here. Continued high oil prices and increasing interest rates would eventually slow the economy. A sell off in the Metal Complex would most likely occur. Would short if Silver falls below $12. gl everyone, baz |
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