Tax & Financial Consulting Services
A New Bull Market for Silver
Karibu (Welcome) G&G Readers,
The silver bear market is over.
For those of you who are long time G&G Readers, you know I’ve been telling you to buy silver & gold since 2007 when it. If you are one of those readers who followed my advice you are sitting pretty happy right now and you are also in the right place and right time again.
You should know by now that I’m a chart reader. And the charts are in our favor, the next bull leg in precious metals is around the corner. But, are you ready to make a move.
If you missed out last time, well here is your opportunity to jump on board.
Silver bottomed two weeks ago at $25.65 per ounce. It happened during the typically quiet period between Christ (mess) and New Year's. If you blinked, you probably missed it. But it happened. The price of the shiny metal fell to more than 33% below its 200-day moving average (DMA) – thereby tagging the bear market target I set last April.
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But over the past two weeks, silver has bounced back 17% ($30.08/ounce). That's a big move – especially for such a short time frame. But it has gone largely unnoticed. No one cares. No one is paying attention, except those of you who are G&G readers.
It's as though all the folks who were wildly bullish on silver early in 2011 have gone away.
Ahh un-wise one!
That, of course, is how bear markets usually end… quietly.
It's not the same with bull markets. Bull markets flame out in a spectacular, parabolic move higher in a rush of popularity… with calls for insanely higher prices. Those were the conditions in the silver market last April.
Back then, I warned that the silver price had run too far, too fast. It was trading 50% above its 200-DMA – a level that had signaled a top for silver in the past. We suggested caution and patience. And I speculated that silver could drop anywhere from 30% to 50% below its 200-DMA before finally hitting a bottom. That's exactly what happened two weeks ago.
Silver dropped down to long-term support at around $26 per ounce. It's still trading about 30% below its 200-DMA. Silver typically doesn't get much more oversold than this. In fact… except for the decline during the mass-liquidation event in late-2008, this is as oversold as silver has been in the past decade.
But no one cares. No one sees an opportunity here. Everyone seems to think silver's best days are behind it.
I can't say for sure that silver won't drift a bit lower from here. But just as I was confident the action last April was a sign of a top for silver and a time to be cautious, I am equally confident the action over the past several weeks is the sign of a bottom.
Now is the time to buy silver. A new bull market is beginning.
If gold and silver prices are nearly certain to rise over the next few years (and probably rise dramatically), the simplest way to play that trend is to buy bullion… real, hold-in-your-hand silver coins or bars.
And I recommend everyone do just that… Buy some silver and store it away. Become a GGIS subscriber and I’ll show you how and where to do just that.
As always…feel free to pass this information on to anyone you think is interested in increasing their tax & financial IQ.
If you need a one-on-one consultation to learn how to implement these investments or any other on the GGIS portfolio, feel free to contact me to setup an appointment.
If you missed any past G&G newsletters, click on link below for the archive:
Meda Ase p (Thank You Very Much),
Asar Maa Ra Gray
Tax & Financial Consultant, RFC
866-361-3872 toll free fax
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LEGAL NOTICE: This work is based on what I’ve learned as a financial researcher and analyst based SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. It may contain errors and you should not base investment decisions solely on what you read here. It’s your money and your responsibility. Nothing herein should be considered personalized investment advice.