Was yesterdays (3/30) silver closing price the highest in 30+ years?

Justacommeman · March 30, 2011 10:19PM

Come to think of it.................it may have been. MJ

Wingsrule · March 30, 2011 10:20PM

If so, it will last for exactly one day.

akuracy503 · March 30, 2011 11:46PM

Can anyone elaborate on some analysts theory that PM's must have a healthy correction in March to realize a bullish run into June?
If we don't correct in March we'll likely see more of a bear trend going into June?

At least that is what I gathered from many experts.

Thoughts?

Are we going to see that big correction to see even bigger gains later?

CaptHenway · March 30, 2011 11:56PM

If all the PM experts in the world were laid end to end, they would not reach a conclusion!

jmski52 · March 31, 2011 1:09AM

Momentum can be a real killer when it stops and goes the other way. The only way that high or higher prices can be sustained or continue even higher is if real data reveals a physical shortage.

Without real data, the momentum will eventually coast to a halt, people will look around and realize where they are, and the theatre exits will be quite crowded when the first guy yells "fire".

Shortly after that happens, JPMorgue will liquidate their shorts and go long.

yellowkid · March 31, 2011 1:13AM

I could envision a big correction in the immediate future that brings down gold also, albeit not to the extent that silver will fall. The long term trend however will still be up.

57loaded · March 31, 2011 1:58AM

<< <i>If all the PM experts in the world were laid end to end, they would not reach a conclusion!

>>

your logic leads me to

CaptHenway · March 31, 2011 8:16AM

<< <i>If so, it will last for exactly one day. >>

Bingo!!!!

CaptHenway · April 1, 2011 7:33AM

$37.83 for a new, new record close today!

cladking · April 1, 2011 2:33PM

I promised everyone tough resistance at $14. It proved to be far worse than I expected
but we made it after more than a year. I promised resistance at $18 that wouldn't be as
bad but it, too, was a little worse than I figured. I warned of weak resistance at $28 and
we nearly sailed through it. The last one I warned of was $38. This one has taken two
attempts already but we should breeze through, I believe.

There is pyschological resistance at $50 but we can take this one out intraday because
the real resistance is caused by people selling to break even and no one bought at $50
who is both still alive and still owns the silver. The only buyers at 50 turned it over to
the Hunts immediately to settle debts. The Hunts are bust so it's unlikely they have
any stashed and are looking to break even.

Once we get through $38 there is no more resistance!

This is just such a remarkable confluence of forces and events. This kind of thing is rare
in human history. I have to believe the planets are in alignment and all signs are go.

Someone was talking about the inability of silver to sustain its price in light of new pro-
duction. But it takes some 5 billion dollars of new demand just to push gold up $1. And
then each year it takes another 120 billion to absorb the increase in supply.

Silver though takes only a few billion to push it up a dollar and probably three billion to
absorb new production each year currently. In other words five billion goes into silver
to push it up $1 but it 125 billion to get the same increase in gold. Multiply that by 40
and to get the same percentage increase it takes five trillion.

This is all academic if governments can get their houses in order and stop inflating since
money will flow out of gold and possibly silver as well.

I think metals are safe in the short term. ...especially gold.

Was yesterdays (3/30) silver closing price the highest in 30+ years?

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