Re: SILVER - WAS $31-$35, WAS $36-$40, WAS $41-$44, NOW $45+
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Several commentors in newsletters I get are consistent (right or wrong). They expect that major shorts will have to cover themselves over the next few weeks, and to expect significant market manipulation and major intra-day fluctuations up and down. But general strong trend up overall, until the shorts are covered. And as always, any big changes in world events would be cause for instant re-evaluation.
After the shorts are covered, and after QE2 technically ends, there may be a fall-back for Ray's consolidation. I believe that will be temporary and the run-up will continue, because either a formal QE3 will start right back up (even though they say it won't), or perhaps more likely - a back-door QE3 will be conducted whereby the Fed itself doesn't buy the bonds, but gives the "money" to the member banks and has them do their dirty work.
It's these types of things (among others) that I personally don't trust technical analysis to cover, but that could be my ignorance, despite having tried to understand it over the years.
After the shorts are covered, and after QE2 technically ends, there may be a fall-back for Ray's consolidation. I believe that will be temporary and the run-up will continue, because either a formal QE3 will start right back up (even though they say it won't), or perhaps more likely - a back-door QE3 will be conducted whereby the Fed itself doesn't buy the bonds, but gives the "money" to the member banks and has them do their dirty work.
It's these types of things (among others) that I personally don't trust technical analysis to cover, but that could be my ignorance, despite having tried to understand it over the years.