I get this as a free daily newsletter, but look at the gold and
silver charts, think he mentioned they are of the ETFs GLD and SLV,
oil is USO, and copper is the futures. Gold and Silver look
to be almost to the end of inverse H & S charts, with silver
measuring up to $23, and gold to $1350. I have a friend who
is buying silver, hoping it goes back to the 1980s highs in the
$40s, or at least much higher from here, and could be right.
If it gets back above the high from 2008 of $21-22. there's a
lot of "clear air" above that. On the flip side, if copper
more importantly than oil rolls over, it seems to be a precursor of
the market, copper has gone up since early '09, from lows under
$1.25 to the recent high $3s, leading the market up.
Posted by desertrat on 13th of May 2010 at 10:18 am
i have a personal friend who was written up in forbes magazine
had one of the most extensive private blues record collections in
the country he sold the complete collection and put it all in
silver at 4.40 oz he has exactly one ton needless to say we are
still friends haha!!
Heck of a deal if he got it at $4.40 an ounce! The low on
Halloween '08 only got down to just under $8.50, so he got almost a
50% discount, guess for buying quantity? He's up over 400% so
far, and looks to keep going.
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Gold, Silver Inverse H & S?
Posted by sonia on 13th of May 2010 at 10:13 am
http://www.mptrader.com/images/charts/nAAIEFYUS.gif
I get this as a free daily newsletter, but look at the gold and silver charts, think he mentioned they are of the ETFs GLD and SLV, oil is USO, and copper is the futures. Gold and Silver look to be almost to the end of inverse H & S charts, with silver measuring up to $23, and gold to $1350. I have a friend who is buying silver, hoping it goes back to the 1980s highs in the $40s, or at least much higher from here, and could be right. If it gets back above the high from 2008 of $21-22. there's a lot of "clear air" above that. On the flip side, if copper more importantly than oil rolls over, it seems to be a precursor of the market, copper has gone up since early '09, from lows under $1.25 to the recent high $3s, leading the market up.
i have a personal friend
Posted by desertrat on 13th of May 2010 at 10:18 am
i have a personal friend who was written up in forbes magazine had one of the most extensive private blues record collections in the country he sold the complete collection and put it all in silver at 4.40 oz he has exactly one ton needless to say we are still friends haha!!
What a Deal!
Posted by sonia on 13th of May 2010 at 10:24 am
Heck of a deal if he got it at $4.40 an ounce! The low on Halloween '08 only got down to just under $8.50, so he got almost a 50% discount, guess for buying quantity? He's up over 400% so far, and looks to keep going.