Clif High’s Web bots have long suggested silver could have $5 and $20 up days on it’s way to around $600/oz. Well, last May that turned out to be $5 down days — the bots are a nascent science and timing can be, and has been a real challenge. However, the general archetype level usually manifests at some point, and things usually turn out less dire than indicated.
Silver has been sleeping / suppressed for around 30 years — a tighter spring than any other contemporary commodity ever as far as I know. So it would not be a surprise to see an explosive move like a couple of 2 dollar days to about $45, then, capitulation to test $50. Then, fiddle around for a few days, and have a nice 5 dollar up day. Then a few more $5 up days. And finally, marking a point of recognition, a $20 up day or two, followed by the alleged fractional reserves of COMEX, LBMA, GLD, and SLV closing their door.
I still wonder if the fed/gov can kick the can into 2012? Although they seem very good at what they do, fighting math is really expensive.
Clif’s latest interview — talks finance first, then audience questions, and ends with fascinating info regarding boats. One of his best interviews ever.