This could be as good as it gets before the negative effects of the next inflation problem created by the Fed and government become apparent to the public.
After silver hit a high of $121, some are expecting it to go to $200 next and the gold/silver ratio, currently at 60 (it has been recently as low as 44), to fall to the 20–30 range.
Given the huge up move in silver once it broke that the long-time high of $50, we could see a retest of the $50 zone. Naturally, new highs would end any discussion of a test lower.
Silver just crashed, suffering two of its biggest daily drops ever. Those erupted right out of a popular-speculative-mania topping, where silver way more than doubled in just a few months.
The short position in $SLV rose by a further 17.70%...up to 73.55 million shares sold short on the NYSE -- and 12.80 percent of the total SLV shares outstanding...a new record high.
Not until we make new highs could we call this bear market truly over. At this time, we’d have to take out $110 just to suggest possible new highs ahead.
Unsavory and speculative interests got into the markets for the metals. Silver, especially, got played. Similar to what happened to nickel a few years ago, and platinum and palladium...
