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« Silver Wheaton Corporation has a bright future | Main | Portfolio Update 26 May 2009 »

Silver has a ‘Popeye’ month

Popeye and Bluto 30 May 09.JPG

The chart below must put a smile on the faces of all the patient silver bugs out there as it has blasted from the $12.00 level to close yesterday at $15.73

Silver chart 30 May 09.JPG

Chart courtesy of Stockcharts

A combination of the Korean nuclear threat, a falling US Dollar, rising oil and rising gold prices all helped set the stage for silver to make a largely un-noticed leap forward to position itself at the front of the pack.

This situation is reminiscent of a cartoon series about Popeye and Bluto where Popeye is silver and Bluto is gold, both competing for the attention of the gorgeous, but a bit on the skinny side Olive Oil. Bluto makes all the noise, attracts the fair maidens attention only to finish second as Popeye eventually outperforms Bluto. Same goes for silver as the head lines cover everything under the sun leaving the precious metals to a cameo appearance normally played by gold. However silver has moved with considerable speed and appears to have no intention of being left behind.

Our stance remains the same in that silver will outperform gold before this bull market comes to an end.

Please click here to read more.

Also to refresh yourself regarding the fundamentals please take a few minutes and read this short update by clicking this link.

Hold tight to your silver stocks the best has yet to come, new record highs by the end of the year will see the mining sector popping!

Have a sparkling week.

Any thoughts – then fire them in.

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For those readers who are also interested in the nuclear power sector that is currently coming back into fashion, you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.

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