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Author Topic: Silver Prediction - Holy Crap I'm Good...  (Read 852 times)
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tamo42
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« on: 2010 Dec 17, 12:13:40 am »



So here is what I said about the breakout of silver back on Dec 06, 2010:

Notice that while the volume spike is large, it is smaller compared to the previous breakout.  That could mean that this wave will be smaller.  We might be looking at a crest of 31 or 32.  But, again, these are emotional events, so be prepared for it to go stronger out of nowhere.  

The news tonight is that the Bush tax cuts will be extended another 2 years.  This might actually weaken the run for silver as people may view the lower taxes as bullish for the dollar.  That's pure speculation at this point as it happened after the market closed for the day.

And yes, I expect profit taking.  There will always be profit taking.  Remember, for someone to buy, someone else must sell.  Even in a strong bull move, there will always be countertrends.  How long and deep they are gives you an idea of the strength of the dominant move.  Silver has been very bullish, so until sentiment changes, expect that to be the broad pattern.

And here is what silver has done:


As you can see, silver popped to 30.53 (not quite 31, so I was 1.5% off) and retraced.  Now it is hit support at 28 and seems to be holding.

Every once in a while it's important to pat yourself on the back for a job well done.  Incidentally, I'm buying more physical silver this weekend...


* Silver Coin.jpg (13.8 KB, 300x200 - viewed 8229 times.)
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« Reply #1 on: 2010 Dec 17, 12:26:52 am »

Is that a crystal ball you're holding? I thought mine was pretty good, but it seems you've found my supplier...
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« Reply #2 on: 2010 Dec 17, 08:57:24 am »

great analyse tamo42
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