Turk thinks silver will surprise this summer and believes it will be back over $40 in a couple of weeks. Any comments from the veterans in Turd's World?
James Turk on King World News
I sure hope that's true!
I read Turk, thanks for the link. Here's the deal, there are a few important reasons why I agree with Turk's opinion that:
"This summer you could see a move higher in gold and silver that literally shakes the world, more than it was shaken when Lehman Brothers collapsed."
- Martin Armstrong, who has correctly identified reliable repetiton of micro and macro market patterns through history said that June 14 marks a turning point that will soon see a currency crisis and gold breakout on its way to $5000, many other experts say a 1:10 Gold Silver Ratio is likely.
- As major currencies around the world weaken, and stocks plunge, the safe haven will be precious metals
- Most importantly, Turd's website went on-line 6/14/11. This is not a coincidence. It is not a minute to soon or too late. This is the FIRST DAY of what will be called the "Silver Decade". Ten years from now, people will look back to this date and say that there was a man named "Turd" whose unshaken faith in the white metal, helped create a safe haven for perceptive investors when all around the fiat burned rendering mutual funds and 401K worthless.
The grass is always greener the nearer you are to the Turd.
something does seem to be up in the air, though have never followed market news this closely before, perhaps other more experienced traders/investors will agree.
Greece default, US state/muni crisis, QE3, etc. anything can happen if they want it to happen. Question is when. I agree with Turk in that funds will flow to the safety of gold and silver; the logic makes sense - if Greece Defaults coupled with continued US Debt issues, traders/investors should flock away from currency and to something tangible. If silver rises along with gold, perhaps a sign silver would then be viewed as a monetary asset vs. only a commodity.
I am thrilled to have a front row seat! Buckling up for a long, great ride.
I was just reading Turk ...
I hope he's right but it sounds too good to be true. I'm shell-shocked and my hands are gashed from knife-catching (apparently my new hobby). I'm holding long and on the sidelines for now ...
This is the bottom or will we see sub 30?
I personally don't see any immediate breakouts occurring in either silver or gold. I tend to believe that pms will stay range bound through the beginning of August. Silver range bound between 30 to 40 and Gold range bound between 1480 to 1550. I also think Martin Armstrong's prediction of a Jun 13-14th turning has some great implications, but, as I understand it, most of his previous turnings usually weren't really understood by others until 2 or so years after the start date. In my mind, Martin is describing a tipping point that will be a catalyst to moving the metals significantly higher. Most of us could probably look at any number of events happening as we speak that could truly "pop" and send the market into a tail spin and metals flying higher. Just my thoughts......of course, WTFDIK.
It could happen, but only in the environment of a COMEX collapse.
Dunno if it would happen at the end of the front month. I would think it would be stretched out to the end of the delivery month before they finally capitulated, or pulled a trump card.
Of course, if they try to save the COMEX, they will HAVE to let the price rise, to try to draw more supply into the market so they can make their deliveries. That would be a solid scenario, and honestly, the one I fear the most, because this strategy could be followed to keep silver underpriced for another decade, even as it continued to rise. I don't want that. I want a rapid appreciation and an industrial panic so I get an easy to read inflection point, like gold parity, where I can trade my silver for gold to ride out the currency crisis.
A lot of our hands are gashed from knife catching, no pain, no gain. Martin Armstrong said his mistakes were worth every penny because it was the only way he really learned anything. So when those gashed hands heal up, hold on to those PMs and Miners for the next ride up.