Gold to silver ratio is about to turn around from lows of 32.

While the mean is around 50, either two things need to happen

1. Silver corrects another 20% from here

or

2. Gold goes up from here as it is now undervalued compared to Silver

I think gold will make its final run past 1600+ and this will be bullish for GDX too.

SLV oversold on 60 min

Going Long on Silver. it hit 15% correction from the top

Hitler Death was released on April 29, 1945

The largest single day drop by % was 15%. If today follows the same we will end around 41

Gold:$silver is at 32, the normal is at 50-60 which leaves a lot of room for Silver correction here

Its June 30 right?

GOLD 1570

Well if you raise margins for Silver then people will go to Gold.

RSI and Stockastics on rise, Price need to catch up. Reporting on May 5th

Upgraded yesterday.

Thing to see is Voting of 10-0, But the speeches from various Feds during the earlier this month was split...Wondering what changed

Also no mention of plans after June so no QE3 yet

MCP

Where is the support? 20d at 40?

everything is an asset which means it will be bubble at the end of the day. No doubt Silver will go higher but needs to cool off first before running into next leg up.

Its up over 50% YTD...and right now 20pts away from 200d which is extreme divergence. $gold:$silver is at extreme lows never seen which makes silver overbought here. $silver is at 90+ RSI which is also an extreme overbought state and corrections may be short lived but could be large $5-7 down move.

Don't say that you are buying at these levels when it is making parabolic moves which when fails gives up the entire move in a single day

This is what happened in one of the parabolic moves on one occasion. Lots of similarities with this and the last time it happened

RSI hit 90+, $gold to $Silver hit lows when RSI is at 10

 By past today is the day when it hits MAX on Silver but it can go a day or week without correction. Best is to get some protection by buying puts a long way away. If aggressive then buy weeklies of next week. The following doesn't include todays data and sure we would have hit 90 RSI and gold:silver under 10 RSI by EOD close

You will soon be rewarded with at least 50-70 pts

What markets are open or closed on Friday and Monday?

US Stock market

Forex

Silver/Gold CME

90 basis points drop in Margin, The decrease was primarily driven by increased food costs and increased promotional spend, partially offset by the positive impact of comparable restaurant sales growth.

OUTLOOK

Mid single digit comparable restaurant sales growth

It could be various reasons for sell off.

CME is closed on Friday and Monday I think.

CME option expiration on Tuesday

Fed Rate decision on Wednesday

So several reasons coming in for possible profit taking