silver - $4.72 (us$) is the key, page-2

  1. dub
    33,892 Posts.
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    Hi X,

    Adding a couple of old ones from Sinclair (well - not so old really)
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    From 1.12.02

    Silver:

    The community has asked in their emails, is there a number for silver akin to the number $324.50 in gold? Yes, that number exists and it is $4.85.

    Needless to say, that is where my buy stops are. At that point, throw %R away, because silver will be trending and the Ho-Hum will give way to the sound of a Rocket Engine under silver.

    If silver betters the $4.85 level, it will have become Dr. Patangi's wife. Dr. Patangi is a famous plastic surgeon in Brazil that decided to give his services to his wife. He totally remade his wife from the top of her head to the bottom of her feet and it was his maximus opus in his craft. When Mrs. Patangi was finally finished, she was stunningly beautiful in every way. You have already guessed the end. She dumped poor Dr. Patangi who is vertically challenged among other challenges for much more, shall we say, fertile fields.

    Well as silver makes $4.86, forget ho-hum and watch zoom. The best technical analyst on this planet is Kenny Adams to whom I have given deference for 25 years. (Someday, I will tell you the story about taking Kenny motorcycle riding -- nearly killed him) He looks at silver as if it is a pressure cooker full of beans. You know what can happen. The entire kitchen can end up in the front yard if that thing blows. "Blows" is a close at or above $4.85.
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    From 27.12.02

    An Answer to a Financial Sense Community Inquirer

    In answer to your question, Dr. K. the following is my view of silver:

    I do not believe that silver is in a Bull Market at the present time. Rather, I see silver fueled positively within a sideways movement by the Bull market in gold. Silver may well develop into a Bull market but there are fundamental arguments against that development. That argument is the undeniable industrial ingredient in the demand equation for silver.

    Many point to the apparent concentrated statistical short position in silver. I truly believe those that have taken this item (the supposed silver short) as their main reason for believing that silver will go the
    extreme prices in the main do not know how to read the figures they are looking at. As far as a concentration of the short position, there is
    nothing new in that. One should research past years on this concentration to see that it has been so since I was a member of the Comex Amongst the same general entities. The size of the short is, in my opinion, skewed by an industry wide misuse of the commercial hedger margin provisions of the
    exchange.

    I have attached two charts to this discussion for your review. The first is a simple long-term chart with a possible bullish falling wedge, yet to be resolved.

    The second is a Williams's %R indicator, which has proven a real moneymaker in silver, if adhered to with discipline. You can see two technical realities in the attachment.

    1/ Silver is not yet in a Bull market.
    2/ Willaims's %R is the primary indicator so far to make money in silver without significant risk.

    Conclusion: Until silver closes above $4.85, I am neutral on it. When silver closes above $4.85, you should change indicators from Williams's %R to MACD & Momentum and be long.

    Silver on a close over $4.85 will achieve $5.50 promptly if not immediately. I believe this will occur but will let silver lead me and not tell silver what is has to do.

    *Click on the following link to view full editorial including associated
    charts:
    http://www.tanrange.com/s/ChairmansCorner.asp?ReportID=45979

    ===========================================================================
    Copyright (c) 2002 TAN RANGE EXPLORATION CORPORATION (TSXV-TNX) All rights
    reserved. For more information visit our website at
    http://www.tanrange.com/ or send mailto:[email protected]
    Message sent on Fri Dec 27, 2002 at 5:23:03 PM Pacific Time

    ***************************************

    JFWIW eh.

    bye.dub

 
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