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« SK OptionTrader Extends Winning Streak To 46 Consecutive Trades | Main | SK OptionTrader Closes Another Winning Trade »
Monday
Feb142011

Silver prices in Stage One?

silver chart 15 Feb 2011.JPG

Team,

When you get time bookmark this site and try and drop in from time to time its called 'Free Gold Money Report' by James Turk. Old hands will know James well, but if you are new to investing in silver his site is well worth the read.

Here's a quote from James that just may capture your interest:


From its $50 high in January 1980 to its $3.50 low in February 1991, the weak hands were shaken out.  At that point, the accumulation by strong hands – who were buying because the recognized that silver was an exceptional bargain – became the dominant force. 

Their buying power was stronger than the selling pressure of the weak hands, and the price of silver responded by starting to climb.  It was classic stage one action, but here’s the important point. 

Silver is still in stage one.  It won’t advance into stage two until $50 is exceeded, just like gold did not enter stage two until its previous high of $850 was hurdled.


I expect that silver will exceed $50 this year, which is a point of view I first mentioned in my outlook for 2010.

Admittedly, I was a little early with my forecast about when gold would enter stage two.  So perhaps I will again be early by forecasting that silver will enter stage two of its bull market this year.  Regardless of the accuracy of my timing, one thing is clear.  Because it is still in stage one, silver remains good value.


James Turk began publishing the Freemarket Gold & Money Report in March 1987 as a subscription-based investment newsletter focusing primarily on precious metals and national currencies.  In August 2009, the newsletter completed a total transformation to become a free, web-based commentary.  Accordingly, its name was changed to the Free Gold Money Report.
The objective of this website is to be informative and educational.  It aims to help readers better understand gold, money and currency through James Turk's commentaries and insights.


Taking a quick look at the chart we can see just what a super day it has been for silver bugs as silver prices gained $0.69 or 2.31% to close at $30.59. We now want to see silver to break through the $31.00 level and hopefully push on the $35.00/oz level. On the technical side the STO is high but the RSI and the MACD still have room to move higher. No doubt there will be considerable resistance at this point as silver prices have put on a 10% gain in two weeks.

Beware silver shorters this Silver Bull will take you to the cleaners.

Flipping over to options we now have 63 winners out of 65 options trades, or a 96.72% success rate If you have any questions regarding these trades please address them through their site where they will be handled quickly and I hope efficiently.


sk chart 10 Dec 2010.JPG

The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today, before we decide to cap membership.

Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.


To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.



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Reader Comments (2)

Hi
Where can I find and track the silver securities in your portfolio
thanks
Alan

February 15, 2011 | Unregistered CommenterAlan

Its on the right hand side of this page under categories, then go to silver Portfolio

February 15, 2011 | Unregistered CommenterSilver Prices

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