Monday, November 25, 2013

Silver moving rapidly toward next decision point

I still model silver a being in a new bull market despite the recent pullback.  In other words, I still model the June low as the E wave of an ending diagonal and then the August high as wave 1.  It might turn out to be something more complex for sure such as a large horizontal triangle.  But for now and until the chart breaks below my modeled E wave, I have to stick with my current view. 

This view is rapidly approaching an inflection point where the markets will not be allowed to go sideways.  Break out or break down.  If breakdown happens it is a buying opportunity. 

Stable long term savers will not go wrong with their bullion metals purchases. It's only the leveraged gamblers or those who spend their food and rent money buying coins who are whiners.  I held most of my gold and silver through the peak and I sleep perfectly well each night knowing that my long term buying power will be there when I need it.




No comments:

Twitter Delicious Facebook Digg Stumbleupon Favorites More