Silver squirted all the way to $32.90 and gold to $1392 before we got out first pullback in nearly 2 days. Silver has backed off some $.50, but is still up $.60 on the day and the retrace has been quick, meaning it could be just an intraday prifit taking dip into Comex close. We shall watch closely the Globex assess markets this afternoon.
But a high should come in today [moon] or Monday with a recognizable 1-3 day retrace that will likely be followed by another leg up.
Some of the JPMs were moving earlier today like GPL at over $3.00 today. I initially bought 100K EXN, GPL and ECU all at the same time back in latter 2005....all were around $.25-.30 if I recall....today GPR $3.05, ECU $1.20, and EXN $1.10 and many more shares added at higher prices in pullbacks along the way [ECU is largest holding]....added OK at $.65 and SFMI at .04, so all in all, it has been a much better 5 years than it feels.
Gold bullion was added initially at $280 and silver $4.75 in 2001 with more additions on all pull backs.
I simply have never had reservations about the destiny we see unfolding as history has been clear in regard to monetary/currency debasement. Once these canadian JPMs catch up over the next few years, real estate could be the "go to" place.
Enough on that! Today we find out if a trap has been set for commodities and if silver has even longer legs. The current intraday G&S retrace will tell that story.....pic
