The Next Time Silver Crosses $30.00 Will Be The Last Time
Friday, July 6, 2012 5:34
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By Bob Kirtley
06 July 2012
It has been an interesting week on the economic stimulus front with what
looks like a co-ordinated effort by the major powers to ignite their respective
economies.
The European Central Bank (ECB) made the headlines with a widely
anticipated cut to its key interest rate of a quarter of a percentage point to a
record low 0.75 per cent in an attempt to ease Europe’s financial crisis and
boost its stagnating economy. This move by the ECB will make it cheaper for
people and the business community to borrow and ultimately spend this
cheap cash.
Next up to the plate was The Bank of England (BoE) chipping in with STG50
billion or US$77.62 as part of its Quantitative Easing stimulus package to
boost Britain’s recession-torn economy. The BoE also decided to keep its
main interest rate at a record low of 0.50 per cent after a two-day monetary
policy meeting.
Then we have The People’s Bank of China who decided to cut its benchmark
lending rate by 31 basis points to 6.0 per cent.
Now we wait patiently for the next shoe to drop, which belongs to the United
States. This Friday another set of Non Farm Payroll (NFP) will be announced
with the hope that they are somewhere north of 120,000 jobs. However,
should this figure come in at sub 120,000 then the heat is back on the Fed
to take action. If this figure is as low as 60,000, then Chairman Ben
Bernanke will be required to move and move quickly. Our own opinion is that
it will be a low number and therefore some form of QE3 will make an
appearance albeit in drag if necessary. Any indication that QE3 is on the
cards will ignite gold prices with a subsequent knock on effect lifting silver
prices as the demand for both of these precious metals gains traction.
All of the above represents a policy of cheaper money and more money,
which is inflationary through the continuing debasement of our spending
power. The lack of confidence in fiat currencies still exists despite the short
term rally in the US dollar.
You may recall the last time we updated the silver chart we said: “that silver
could go as low $26.00, so acquire gently.” That level is holding for now as
the chart shows and the longer this sideways action continues, the bigger
the move will be when it comes. Also note that the RSI has dipped below the
’30′ level and that silver prices did rise, but not in a convincing fashion, the
‘tease’ for silver bugs continues. However, rather like a bouncing ball the
oscillations are getting smaller with every bounce. The trading range is
narrowing and in the near term silver prices will break out of this range and
move almost violently to new ground. As we see it the odds are skewed
towards an increase in silver prices rather then a fall and once they do catch
fire it will be dramatic. The regulators may well move to limit the rate of
change that occurs, however, once through the $30.00/oz level the ensuing
pullbacks, real or manipulated will not bring the price back to this level
again.
To conclude we politely suggest that you accumulate as and when you can
and that you do not sell any of your physical silver bars or coins, you might
be just offering someone else a real bargain. As for the stocks we remain
skeptical about their ability to perform, its not happening for them at the
moment and we need to see some signs of investor interest in the producers
before we decide to increase our exposure to them. At the same time we are
not selling any of our silver producers as we purchased them early in this bull
market and they owe us nothing.
Now for those of you who are adrenalin junkies you may want to consider
allocating some of your funds to a few well thought out options trades. As
we see it options are the only vehicle offering leverage to the underlying
movement of silver prices. You will need to be highly selective, totally
focused and disciplined. Once you have made a purchase the clock is working
against you and Theta is your enemy as the time premium erodes with each
passing day. Options do not fit a ’buy and hold’ strategy its a buy, wait until
your target has been achieved and sell regardless of how much further you
think that they may have to run.
So if we have stimulated your interest drop by and see us some time.
We hope that you all had a very good Thanks Giving break, however, its
behind us now so get your game face on, the second half promises to be
explosive, one way or another.
Bob Kirtley
URL: www.skoptionstrading.com
URL: www.gold-prices.biz
Email:[email protected]
Disclaimer: www.gold-prices.net or www.skoptionstrading.com makes no guarantee or warranty
on the accuracy or completeness of the data provided. Nothing contained herein is intended or
shall be deemed to be investment advice, implied or otherwise. This letter represents our views
and replicates trades that we are making but nothing more than that. Always consult your
registered adviser to assist you with your investments. We accept no liability for any loss
arising from the use of the data contained on this letter. Options contain a high level or risk
that may result in the loss of part or all invested capital and therefore are suitable for
experienced and professional investors and traders only. Past performance is not a guide nor
guarantee of future success.
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Unless this guy has a crystal ball or he is on the inside then he is talking crap.
The paper price is a fixed game, computer digits that can and will be changed at the flip of a switch.
Care not for the paper price because silver will come into its own after the re-boot and a form of money like Bitcoin when the zionists try to remove all use of cash.
Buy silver but don’t be fooled into thinking it’s a one way ride on the paper price when they can print paper certificates just as fast as they can print fiat cash
Agreed, unless your in the loop on setting the price or running the algorithms, you might as well throw a dart at a dart board. The paper price can be set anywhere at anytime, from 0-?????, or range bound in a certain trading range.
You can see that I sam right because silver often goes down when it should go up and up when it should go down.
Silver trades like shares and it should trade inverse to shares and I don’t buy the crap about people being forced to liquidate silver to prop up other trades unless silver being traded has no connection whatsoever to the underlying asset and they are trading fairy dust prices.
Stick with physical and keep your powder dry because that day is coming
Just keep collecting as you would a hobby because it’s a great hobby. You will be very well rewarded and all the naysayers will be kicking themselves in the arse.
First short term target: $34.00oz.
Dramatic fall from 11th of September.
Second target: $19.00oz towards the end of this year.
Take it from a pro, I have been 35 years in this phoney business.
I just like the way silver coins sound when jingled in your hand., (as opposed to the scrap we use now).
Good Day,
No we don’t have a crystal ball or an ‘inside the loop’ position, we are telling it as we see it. And our research has served us well as you can see from our performance record, an annualized return of 81%, isn’t too shabby.
In 2011 we outperformed Gold by 31%, Silver by 41%, S&P by 42%, and the HUI by 53%
check it out for yourself: http://www.skoptionstrading.com/
Have a good one, cheers, Bob K
From above “we are telling it as we see it”
I’ve too have made good returns but no one has a sure plan that will work time and again in a fixed market
“An annualized return of 81.15%”
You know what they say if they say it sounds too good to be true but if you would like to supply a written agreement of say 20% return in one year on paper and after admin/subscription costs then i will take you up on your offer.
Since we are cheery picking results I would like you to know that i once made a 300% return on silver in a single day ! well it was just one coin that was worth a fortune but thats besides the point.
You do know the market is fixed don’t you so see my reply at the top and reply to that if you are unable to agree and in that market PhilippinoBob predictions seem quite possibe, i hope it is because at $19.00 oz i will be buying if i can get the real deal anywhere near that price even if the drop is attributed to a rise in the $ as europe crashes.
Longer term the system is going to crash and in this game of musical chairs i want to be sure i own the physical and not just worthless paper or digits on some brokers hard drive
These metal markets are nothing more than a Ponzi scheme just like the China Economy Growth generated from the one party system ponzi scheme.
The Gold standard is dead and for good reason it won’t work in a modern world with trade moving millions of times faster and a totally connected global economy. Yes I will admit prices will spike for the shorth term when all hell breaks loose but once the masses of delusional people come to realize the gold standard is not coming back for good reasons the price will drop fast and panic selling will ensue. I have been buying and selling Gold/Silver and Numismatic materials even run a coin shop and business since 1980. Yes I will admit I have several thousands of ounces of silver ready to dump with the buy panic that take it to $110 Oz. The best investment one can make better than Gold and Silver or anything else. Viable farm land at least 20 miles away from the cities.
Anti-Zion,
We are not financial advisers so I cant take up your offer regarding the 20% return. But I will have a think about it and maybe we can agree a bet of some sort for maybe a bottle of wine or something that would be on interest to you.
We have a number of positions open at the moment so we cant count them, but as we open new positions and then close them, we record them on our trading record, so all can see the good, the bad and the ugly. So if for instance we blow the next 3 trades you can have a good chuckle. If not then maybe you will agree that we are as good as we say we are.
http://www.skoptionstrading.com/trading-record/
Have a great week,
Bob K