Rare Opportunity to Buy Silver and Gold at Fire-Sale Rates

Gold Price Close Today : 1592.70 Change : (45.00) or -2.7% Silver Price Close
Today : 29.929 Change : (0.131) or -0.4% Gold Silver Ratio Today : 53.22 Change
: -1.265 or -2.3% Silver Gold Ratio Today : 0.01879 Change : 0.000436 or 2.4%
Platinum Price Close Today : 1562.00 Change : -48.40 or -3.0% Palladium Price
Close Today : 632.00 Change : -9.10 or -1.4% S&P 500 : 1,162.95 Change : 26.52
or 2.3% Dow In GOLD$ : $143.34 Change : $ 7.39 or 5.4% Dow in GOLD oz : 6.934
Change : 0.358 or 5.4% Dow in SILVER oz : 369.00 Change : 10.67 or 3.0% Dow
Industrial : 11,043.86 Change : 272.38 or 2.5% US Dollar Index : 77.95 Change :
0.646 or 0.8% I reckon mobs of silver and gold investors out there are chewing
their fingernails down to the quick, but they could spare themselves a lot of
blood loss if they'd lift up their heads and look around. 'Tain't the end of the
world, let alone the end of the bull market. 'Tis a routine correction - a large
one, but routine as a bull market unfolds. Dollar index today rose through 78
and closed at 78.50. Then something happened in the aftermarket, I don't know
whether it was a news item or just the herd stampeding the other way, and the
dollar sank back to 77.95, which was still higher than Friday. Dollar will rise
further. Euro rose to 1.3451 at close today, up 0.37%, but in aftermarket
trading stands at 1.3365. Doomed. Yen rose 0.44% to 130.97 cents/Y100
(Y76.35=$1). Trying to rise. The Tooth Fairy visited the stock market today and
raised the Dow 272.38 points (2.53%) to 11,043.86. S&P500 also rose 2.33% or
26.52 points to 1,162.95. Technically looks like Thursday and Friday formed a
rounding bottom, and it rose today to the 11,100 point where it broke down
Wednesday. Must prove itself by crossing that barrier. STOCKS -- Wall Street's
way of harvesting Main Street. GOLD and SILVER markets today hardly can be
described. I came in and silver was at 2884, I grabbed phones and started
answering and before I could cover what I'd sold SILVER had climbed 100c.
Today's low came at 2604c, but about 3:00 a.m. our time. Nobody got it there.
High on silver was 3078c, and after closing Comex down 13.1c at 2992.9c, it's
trading in the aftermarket at 3062c. What chaps me most of all is the premium on
US 90% rising, 50c/oz. at a lick at the end of the day. Back in 2008, y'all may
remember, same thing happened when all forms of physical silver just
disappeared. The GOLD PRICE lost $45.00 when Comex closed, coming to rest at
$1,592.70. High was 1,637.65, low (again, at 3:00 a.m.) at $1,532.45. In the
aftermarket it climbed to $1,623.65. Hogwash. It's neither normal nor sensible,
but then sometimes markets aren't either. Here's what's most occupying my mind.
The gold/silver ratio as a percentage of its 20 day moving average yesterday
touched 120%, highest it has ever been, far's as my file runs to 1998. Today it
fell a little, to 116.8%. Generally that's a very reliable indicator, 115% at
bottoms and 88 - 92% at tops. What does that mean? That we may have seen the
high in the gold/silver ratio. However, as violent as this day's trading was, I
want to give SILVER and GOLD PRICES another little while to fall. I may end up
eating gravel, but the rational side of my brain keeps telling me to wait just a
little. Another thing nagging at me is that the SILVER PRICE has dropped below
its 300 day moving average, a rare occurrence. Now it might stay below that
300dma for two or three weeks, but crossing it almost always says, the bottom is
near. SILVER and GOLD PRICES could drop more. My rational mind and the charts
tell me that. But my intuition keeps on asking where all that buying was coming
from today. A 70 cent silver rise and $31 silver rise in the aftermarket is
right stout, no matter how you cut it. Gently, gently I am starting to buy. Just
can't help it, I'm too nervous about silver and gold. Nervous, too, about the
unfolding crisis. Of this much I am sure: you are now watching a rare
opportunity to buy silver and gold at fire-sale rates. Friday after markets
closed Comex announced it was raising margins on silver and gold contracts. No
doubt somebody got that news before the press release and sold in anticipation.
But the stories metastisizing on the internet that this proves a conspiracy are
just silly. Commodity markets are run for the benefit of the market makers, and
it's not in their interest for investors to go bankrupt. They raise margins on
EVERY hot market. Argentum et aurum comparenda sunt -- -- Gold and silver must
be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2011,
The Moneychanger. May not be republished in any form, including electronically,
without our express permission. To avoid confusion, please remember that the
comments above have a very short time horizon. Always invest with the primary
trend. Gold's primary trend is up, targeting at least $3,130.00; silver's
primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend
is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or
US$-denominated assets, primary trend down; real estate in a bubble, primary
trend way down. Whenever I write "Stay out of stocks" readers inevitably ask,
"Do you mean precious metals mining stocks, too?" No, I don't. WARNING AND
DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade
futures contracts. I don't intend them for that or write them with that short
term trading outlook. I write them for long-term investors in physical metals.
Take them as entertainment, but not as a timing service for futures. NOR do I
recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT
physical metal and I fear one day one or another may go up in smoke. Unless you
can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary
of traps. NOR do I recommend trading futures options or other leveraged paper
gold and silver products. These are not for the inexperienced. NOR do I
recommend buying gold and silver on margin or with debt. What DO I recommend?
Physical gold and silver coins and bars in your own hands. One final warning:
NEVER insert a 747 Jumbo Jet up your nose.