Wednesday, March 12, 2008

Hold On To Your Hats - Silver and Gold Prices Are Fixing to Blow

Gold Price Close Today : 978.80
Gold Price Close Yesterday: 974.2
Change: 4.6 or 0.5%

Silver Price Close Today : 19.911
Silver Price Close Yesterday : 19.676
Change: 23 cents or 1.2%

US Dollar Index Today: 72.3
US Dollar Index Yesterday: 73.2
Change: -0.9 or -1.2%

Not only did the facts not knock my theory in the head, today they confirmed it.

The SILVER PRICE has made a triple bottom, refusing Monday, Tuesday, & today to break, holding at $19.20, $19.31, and $19.35. Silver closed up today 23.50¢ at $19.911. In the aftermarket it has risen another 22¢ to $20.12. This bests the $19.85 high on Tuesday, and agrees with my theory that we were seeing a shallow, brief correction before resuming the rally furiously.

The GOLD PRICE traced out a pattern similar to silver's, with a rising triple bottom. Only confirmation still lacking is climbing above Tuesday's $985 high, which tomorrow should see or I will probably be dead wrong about everything else.

Y'all hold on to your hats -- silver & gold prices are fixing to blow! If you haven't bought yet, you'd better buy some now.

Unbeknownst to me, who readeth not newspapers nor listeneth to news, the Federal Reserve yesterday agreed to swap Treasury Securities to banks for rotten, non-performing, subprime, subsubbasement securities, thus bailing out the banks (Surprise! They're corrupt!) That sent the stock market & the US DOLLAR INDEX into hyperdrive. Today, take stock in stocks & buck: stocks are barely above 12,000 at 12,110 and dollar index lost a hemorhagic 89 basis points today and closed at a new low.

Way to go, Nice Government Men! See if you can't blow up the Washington Monument with your next move.

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger

"Buy Silver and Gold Coins at the Best Prices"

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $1,250.00; silver's primary is up targeting 16:1 gold/silver ratio or $78.13; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.