(Market Update 7-1)
by Edgar J. Steele
January 27, 2007
files of Obama? Yomama!:
Latest Nickel Rants:
1/14/07 - Brain Worms mp3 audio
12/31/06 - We Hung the Wrong Guy! mp3 audio
11/13/06 - Listen Up, You Congressional Morons! mp3 audio
1/15/07 - Marchin' Lootin' Killin' Day mp3 audio
12/17/06 - The Sound of Laughter mp3 audio
11/26/06 - List Alert (Market Update 6-8)
11/22/06 - Are We There Yet? (Mkt Update 6-7) mp3 audio
11/7/06 - Stunned and Amazed mp3 audio
My name is Edgar J. Steele.
Ok, chart fans - This is about as classic as it gets. Based solely upon the price movement charted below, traditional technical analysis implies that SLV will hit 150 (paralleling a silver price of $15 per oz) about the middle of March, whereupon it might decline to no further than 140 near the beginning of April, then take out a new high altogether, either in this highly-predictable fashion (to 18 on about June 1) or take off like a rocket ship (to the Moon).
Without the extraordinary government manipulation we saw last year, we would have surmounted $20/oz silver near the end of 2006. Of course, without the ordinary government manipulation since 1995, the price of silver already would be in orbit.
There is a danger, of course, of the price of silver being pounded down again, just as it was late last Spring, but the manipulators quite simply do not possess the juice they had at that time. Nor will the price of silver stay down, either, just as I said at that time. Those who bought more then, at $10, $11 and $12, are feeling pretty good about the long-term fundamentals of silver now.
Price declines should be viewed simply for what they are: gifts ... buying opportunities. And I'm not talking here to major or, even, traditional investors, either. Those who, like myself, can afford only to buy a few silver rounds at a time, should be doing so. Coin stores are all over the place, as are gun shows, where some great silver prices can be had, a few rounds at a time. Spot plus 50 cents per ounce always is a great deal these days, with a 75-cent premium pretty routine and a dollar, frankly, too much.
This is just the way a long-term bull market works, folks. Picture the jerky and dramatic movements of the rodeo bulls striving to toss their riders. Well, you are the rider on this bull. Grit your teeth and hold on for dear life. After all, the term "bull market" got its name for a reason, you know.
When the international bankers finally lose control of the prices of gold and silver, silver will go hyperbolic, in a curve that looks just like the reverse of the dollar's plunge at the time. We should be well into WWIII and Depression II by then, of course, with the mostly-electronic Amero being touted as the new "stable" currency. See Chapters 16 and 17, "World War III" and "Money's End Game: Depression II," respectively, in my book, Defensive Racism, which has been so on the mark thus far as to be a little scary. Can the all-electronic Globo be far behind?
This is as good a time as any (better than most, in fact) to be moving pieces off the board (out of SLV, the IShares silver ETF, even) and into physical silver.
Copyright ©2007, Edgar J. Steele
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