I have received several requests for the “Big Picture” on Silver. Here it is…..
Gold finds itself at all time highs…Silver at the 38% retracement level. If Silver can break good ole Fibonacci, the next line (2) is a BIG PERCENTAGE above line (1)!
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Bob,
So we are neighbors, I live in Sherbrooke, Quebec and owned a lot of Potash then and gold now.
Is that a sign?
William ….. I agree whole heartedly with your analysis. She just reminds me on the ‘JP Morgan and shoeshine boy story.’ Also the CA in my name stands for Canada. I live only a few mile from the Potash Corp mines here in Saskatchewan. In 2008 everyone was saying how people needed to eat and potash instantly became more important than air or water and that Potash Corp was going to $400-$500/share. Sounded like a sure thing – just like the Fed printing money – and only 9 months later POT was trading for $60/share …. and to think, people are still eating. So the moral of the story ….. gold could fall dramatically and the Fed could still print money.
I hear your disdain for gold, I don’t profess to understand it much myself. I had a friend that was an analyst for a hedge fund who when asked told me gold would continue to go up as long as the Federal Reserve expanded their balance sheet. It’s a simple idea, which I like, and doesn’t include those ideas that China and India are dominanting the precious metals markets with their buying. For me, I’m going to stick with that as a central idea for being long gold. There’s no need to call a top in this market until some massive shift in policy tells you to sell. As for me Treasuries are the real thing defying gravity. How many more of those will we be printing to give these tax breaks?
Her yappy little dog also told you to buy?!
If so then you should absolutely sell!
Yeah, I think this may be nearing the bubble peak. When the dog tells you to buy, let me know. 😉
My 85 year old neighbor and her yappy little dog just told me to buy gold (she seen some ad. on TV or something to buy coins) – don’t think she has ever held an investment in her life. Think I am going to sell all my gold soon.
Thanks Chris, very helpful. Stan