Monday, May 9, 2011

Silver UP 6% Today. Don't Expect It To Take Too Long To Take Out $50

Did you take advantage of the massive silver liquidation to load up on some physical this weekend?  If so, I bet you had to pay significantly more than spot price.  At lease a few dollars and possibly much more.  With silver continuing to stay in long term backwardation, don't expect it to stay down here too long.  I expect some consolidation throughout the rest of may and early June and then see it taking out the $50 high permanently.

That's right.  $50 should fall for good.  With all the fiat shit paper money being created around the globe chasing commodities, silver as monetary and industrial metal should be heading much, much higher over the long term.

Don't get cute, get physical metal and sit on it.  Protect it.  And you will come out of the great dollar collapse in much better shape than most of the sheeple in AmeriKa.