re: This could be something....Look beyond equities, Silver to be the next short squeeze

Update on my 500 shares of AG purchased at 18.95, market price at opening on the day brokerages shut down trading on selected stocks.

I sold at 18.95 the day it went to almost 20, and bought ZOM, WKHS, and TSNP w some of those monies.

I still feel that precious metals will do well when the inevitable market collapse occurs, but the lure of a lottery ticket is far greater to me with my speculative funds

quote:

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Precious metal investors .... look out below !

Gold just crossed below $1720 on the HK exchange .... a critical support level. If it closes tomorrow below $1720 on the NYMEX, ... the next level of support is all the way down at $1370 ..... make certain you are current on your DD, and good luck

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Rates are killing gold right now which is dragging silver down. If the fed lets rates go higher I could easily see us testing 1400-1500 gold and 20-24 silver before snapping back quickly.

The fed won’t let rates go higher though, look at today’s charts and you can see they’ve already implemented yield curve control and if what we’ve seen in Europe is an indication of what’s going to happen here we may see negative rates at some point. Combine this with the upcoming massive amount of money-printing and subsequent inflation and you’ve got a disaster brewing but a perfect storm for the PM market.

Silver will be interesting to follow in all of this because of its role as a commercial necessity and also as a monetary hedge. I’m hoping we see gold/silver diverge as silver acts more like the industrial metals and then gets an added boost from gold once it springs back.