- I have not sold any of my silver despite the 33% collapse in price. In 2008 silver went from US$20 to just under $10/oz (in 4 months) and then staged a spectacular rally to almost US$50 which just ended last week. This is a 5X increase from its low. Silver has now corrected to US$33-34/oz. This is a 50% correction of its up move from US$18 to US$50. I expect silver to rally spectacularly to at least US$100/oz!
- This collapse of silver prices in 4 days is artifically engineered by the bullion banksters. It took 4 months for silver to move down US$10 in 2008 but it only took 4 days for it to collapse US$15 now! I expect silver to rebound sharply, consolidate in the US$45 – 48 region before taking out US$50/oz decisively. US$100/oz within 6-12 months is not entirely improbable for gold’s ‘crazy brother’!
GREATEST PROFIT POTENTIAL OF THE LAST DECADE
by Toby Conner, http://goldscents.blogspot.com/
After what should be a brief pause this week commodity markets will move into the greatest rally of the last decade. As usual I will stay focused on the precious metal markets. They have been the leaders during this entire move out of the `08 bottom and they will see the largest parabolic move of all commodities during the final leg up.
I’ve noted in the past that consolidation size is usually a good leading indicator of how large the following rally will be. Gold just consolidated for 5 months. That is going to produce a massive rally. It’s already produced a large move and it’s just started.
Gold and especially silver have already come much further than I originally expected at this stage of the game. I was looking for gold around $1650 and silver at $50 by the top of this C-wave. Silver has already reached that level and gold tagged $1575 yesterday. This has unfolded in only the first two daily cycles. The third daily cycle is where the real parabolic gains are going to occur.
The third and last daily cycle higher during the semi parabolic move in `09 added 200 points in a little over a month. The coming parabolic move will be significantly more powerful than what happened in `09 as this will be a final C-wave move. We should easily see a 300- 350 point move in gold and it’s anyone’s guess as to how far silver rallies during the final parabolic finish. $65 or even $70 isn’t out of the question.