SS says
If you have followed my BLOG on Silver you have seen that I called the Silver TOP near 50.
I noted the media hype on Silver - the parabolic move after 22 to 49 and - the bullish sentiment on Silver - all of which led me to conclude that we are heading for a major TOP in Siver.
Silver peaked at 49 and then fell to 33 in May.
Since then it has tried to head to 40 but has failed.
I had also said that after falling near 30 - it should try to make its way to 40ish territory.
It headed near 38 or so and fell 4% yesterday.
I think that the next big move in Silver should on the downside.
It may try 40 but that will be it.
We will see Silver to head near 20.
It will drop in the 20-30 range.
The next drop will be bigger than the first.
So the first was from 49 to 33 - A 34% drop
The next one from 38 will be around 50% and that takes it near 20 ish.
We will see this in the coming months.
If you can short Silver via long term PUTS - that would be a great trade.
Dont trust the media that tells you Silver is heading to 50 and 100 and 150.
The time to buy Silver will be before 2015 and Silver should be in single digits.
If you have followed my BLOG on Silver you have seen that I called the Silver TOP near 50.
I noted the media hype on Silver - the parabolic move after 22 to 49 and - the bullish sentiment on Silver - all of which led me to conclude that we are heading for a major TOP in Siver.
Silver peaked at 49 and then fell to 33 in May.
Since then it has tried to head to 40 but has failed.
I had also said that after falling near 30 - it should try to make its way to 40ish territory.
It headed near 38 or so and fell 4% yesterday.
I think that the next big move in Silver should on the downside.
It may try 40 but that will be it.
We will see Silver to head near 20.
It will drop in the 20-30 range.
The next drop will be bigger than the first.
So the first was from 49 to 33 - A 34% drop
The next one from 38 will be around 50% and that takes it near 20 ish.
We will see this in the coming months.
If you can short Silver via long term PUTS - that would be a great trade.
Dont trust the media that tells you Silver is heading to 50 and 100 and 150.
The time to buy Silver will be before 2015 and Silver should be in single digits.
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