The 300 Club

Looking to see if silver can stay over $37 and back to $37.5 Gold - $1430. Have my doubts.

Normal bounces. 48 hours ago - trading hrs....silver was over $38...then $36.36...almost a $2 fall.
Gold? Ditto.....$35 selloff from Thursday afternoon

Look, anytime PM prices drop from highs the bears come out from their rocks predicting what they have predicted each time there has been a pullback... going back yrs... going back to when gold was $250.

What people have to ask themselves: what is driving PM prices? Has that changed overnight? What has been driving PM prices? Well the mainstream tells yaw this and that, all wrong... it's not business and it's not inflation. It's DEBT.

Now ask yourself... has the world suddenly, just after the all-time high, seconds after, late in the day, that day in March, eliminated DEBT?! Ask yourself that. Right after the all-time high USA wiped clean 14 trillion debts! Answer... NO. So it's noise. The top callers have been wrong time and again. Recognize it as such and be smart...

The operative word/s here is perception and trends. My sense is “bear market “rules apply for PM until proven otherwise.

Who said I was a BEAR? Gee....you lay out a case after GOLD and SILVER backed off after a pretty good rally

This is not 2008. There was no QE then. Since 2008, the Bernanke has added trillions to the US money supply. The ECB has now its own QE. Ditto Japan. I do not think in a GLOBAL quantitative easing environment that” bear market" rules apply for PM. Quite the contrary, actually.

"Bear market" rules meaning short term - unless proven wrong - hedge, be careful and a correction is not only due but welcome. Healthy.Could be short and sweet or?

And the gold/silver ratio is near Hunt bro levels?

Different economic times.

Just mentioned the ratio...the # coupled with parabolic move since sept.Noted.

My fears with the PM trade have always been the following.

New in the sector since last summer. Not very sticky.

HOT moneyJim Rogers and Eric Sprott say otherwise.

They are not HOT MONEY!! Rodgers, who I’ve followed since his WSW days, isn't a buyer now or a seller. Says his timing sucks, always has said that. Likes ags more.And Sprott, again not HOT money, is talking his book which is to be expected. I like the guy.

ETF flow into GLD and SLV and other PM instruments can and will reverse. Some day

I can't argue with that. I mean, some day . . . anything can happen. Some day . . . .
Hey...we agree.... :)

Gold could hit $1380 and silver $34 in a heartbeat

And in a heartbeat gold and silver can go to $1500 and $50, respectively. In a heartbeat.

I'll gladly take that friendly bet. But I’ll give you the same metrics. You have $39 silver and $1460 gold vs. my #'s.
Time frame - 4 weeks.

Dollar should bounce.....

The greenback is trash. Unless this trash is coated in rubber . . . then, yes---I suppose it could bounce.

Trash or not Trash is irrelevant. Like it or not - I don't - PM's will sell off if the dollar bounces. Currency traders are chart monkeys. Mindless inverse trade. All use TA. Even a TURD can bounce.
A little.... :) Long term...yea, the dollar is destined for the “reserve currency " trash heap. Agree.

Anyway, you and I have a different take on things :-)

Not really.....I am as long term bullish as you are for the same reasons. Markets correct.
Human beings trade....greed and fear.

The Middle East is a wild card....more so for GOLD than SILVER.

Oh, how difficult it is when we have to make choices?

Are you a Bear or a Bull?

Are you a man or a mouse? Is silver going up or is silver going down.

Are we just boarding our flight to the moon or should we wearing a diving suit rather than an astronaut suit?

I hear the giants rumble and roar around me - but who really knows????

I asked Mr Frost and he said:

"Round and round in a circle we go,
But the Secret sits in the middle and knows!
Well, that wasn't a lot of help so I figured I would look to Rudyard for some inspiration.

Rudyard Kipling

If you can keep your head when all about you are losing theirs and blaming it on you,

If you can trust yourself when all men doubt you, but make allowance for their doubting too;

If you can wait and not be tired by waiting or being lied about, don't deal in lies, or being hated, don't give way to hating,

And yet don't look too good, nor talk too wise:

If you can dream - and not make dreams your master;
If you can think - and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two impostors just the same;

If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to broken,

And stoop and build 'em up with worn out tools:

If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;

If you can force your heart and nerve and sinew to serve your turn long after they are gone,
And so hold on when there is nothing in you Except the Will which says to them:

'Hold on!'

If you can talk with crowds and keep your virtue, or walk with kings - nor lose the common touch, if neither foes nor loving friends can hurt you,
If all men count with you, but none too much;

If you can fill the unforgiving minute with sixty seconds' worth of distance run -
Yours is the Earth and everything that's in it,
And - which is more - you'll be a Man my son!

Ah! That's what I like!

Clear thinking. Clear cut and to the point... No question about all that debt, no question whatsoever!

The Bears must be nuts, thinking like that! It almost goes without saying.

Right, so we can breathe easy and keep the astronaut suits on, right? Right!

By the way, what kind of Bears were they? Ordinary common garden bears, or were they Silver Bears?

Ah! Silver Bears - so that means the price of silver isn’t going anywhere but up in the foreseeable future.

Nothing wrong with that argument. I'm right in there with you!

By the way, is that the only type of Bear out there, or are there perhaps other kinds?

A Dancing Dow Bear, perhaps? Or what about a Brown Bond Bear?

Could they be "the horse of a different colour one hears about??"

What do I mean?

Well, like when some of the Brown Bond Bears pull out billions from Treasury Bills, big time.

Do you think that might pull the bond market down a bit?

After all, I believe the bond market is a far bigger market than the stock market.

Would we get a little jittery maybe, it coming up to summertime an' all?

And then there's those Dancing Bears that make you think they enjoy what they're doing, but they don't. And they, or their masters which is the same thing, pull their spawning salmon out of the mainstream and sit on the bank munching, to watch the carnage below; would that bother us in the Precious Metal share market?

Or would we just shrug it off and stick to our guns like any tough miner should?

When the credit markets take another hit as more and more nation states and US states hit crisis after crisis, will all the precious metal shareholders still stand serenely to one side as the bottom of the Dow falls out, because they know that they are right, and right will prevail ...............in the long run?

Or will many of them panic too, when there are bears of all kinds crowding in on them with teeth bared?

But perhaps it's all bull, and we shouldn't worry in the "short run".

Bear with me Dolly! I'm not trying to say you are wrong.

(I sincerely wish I could predict the remainder of this year in this world turned upside down.)

I am still trying to figure out what my portfolio will look like come June of this year!

Will I be eating ice cream with a silver spoon or will I be trying to bear up with a bare pantry.

There's nothing wishy-washy about me. I’m sitting squarely on the fence!