More or less the same

There's not much to report on the PM front. Still zooming away and making the top pickers look foolish. My guesstimate for this move in silver will be $50. Yes $50. Doesn't seem too far away now that we are trading at $36. $50 is a nice big round number that will continue to attract buyers. With enough bullishness, we might even overshoot to $60.
Lots of different sources reporting of tightness on the physical front. Personally, I don't know the veracity of that as I am not a bullion dealer. But looking at the charts intraday, every dip is aggressively being bought in silver. Pretty bullish to me. Times like these, waiting for a modest pullback will keep you waiting on the sidelines.
It almost feels like there will be a strong liftoff in prices soon that will make the recent advance look miniscule.

Currency devaluation

Interesting thing happened to me today. Every Monday at my job, I receive a weeks worth of daily parking stickers that allow me to park all day in the company garage without paying. All I have to do is adhere the yellow parking sticker to the back of the ticket that I pick up from the parking booth and give it to the attendant at the end of the work day. I've been squirreling away extra stickers whenever I don't use them b/c I leave late on some days and there is no attendant to take the ticket. I figure I can save it for a rainy day when I forget to pick up new ones for the week or whatever.
Well, today happened to be the beginning of the week which is when I pick up my weekly stash of tickets from the receptionist. Lo and behold, the damn stickers are now GREEN! Overnight, my old yellow tickets became worthless!! What the hell! I felt like the rug was pulled from under me.
I think this is the same feeling people will get when they realize that their hard earned savings will not be worth anything due to inflation/currency devaluation. One day they will wake up feeling stunned that something like this happened overnight. I believe that this is a real possibility in our future.

So beware and protect yourself!

Fireworks

Wow, what a show today. Silver, gold, miners all exploding in tadem! Does anyone still doubt that bull mkt?

Still waiting for a pullback which I am expecting to happen any day now. If not, it's just a sign of how strong the sector is. Regardless, I am happy with what I have.

Time to go all in...

Waiting for one final pullback in the metals to be all in. This is when I push all my poker chips into the table.
Silver close to yearly highs, gold a smidgeon away. Many miners already there. Juniors getting bought out. Lots of action and excitement in this space.
But interestingly enough, still no major participation by the masses. My friends still don't own any. Don't know many that do. Oh well, when Joe Six Pack starts talking about investing in this space, it will be my cue to exit the stage.

Xmas is coming early this year.

BTW, DBA is ripping higher yet again. This looks like the beginning of a bull market here.

Now a message from our sponsors

This is just a quick reminder to get into gold/silver. I believe a lift off move is imminent.
1) Bullish season coming around.
2) Central bank buying (look at Russia which is continually adding to reserves).
3) More institutional participation (but still very small numbers in terms of % participation)
4) Some unusual strength in miners (especially juniors) while general mkt is suffering.
5) Today, silver had some serious upside move after being down.

My spidey sense is tingling.

Get on board before it's too late.

Gold train is quickly leaving the station

Woo hoo! What a feeling to see the precious metals and miners take off. I've been positioning myself for this for a long time now. The folks like Roubini calling for bubble in gold will look like fools if they haven't already. This bull market is clearly not done yet. If anything, this will be a big move up in gold as it just cleared new highs relative to the dollar.
I expect some correction here on gold at this level. Once again, this is an opportunity to buy. $1300 is my next target, then $1500. Silver should retest the prior high of $21 set over a year ago. And the miners will obviously rip higher as was seen today - these guys are leveraged to any move in gold.
I direct your attention to a few names that are clearly rocketing up and are good candidates to accumulate on dips.
EGO, IAG, SLW, ANV, SVM, SA. Even the blue chips like GG, ABX, NEM are moving.
For those with access to the Canadian exchange, check out RBI, SMF, EAS, III, and OSK.

 I don't plan to sell until friends who I've been telling to buy precious metals for a while now, call me and ask how they can get some gold. Or maybe if the cleaning lady tells me of her favorite gold stocks. It will be the NASDAQ bubble all over again.

Choo choo, ALL ABOARD!!

Market outperformance

The time has arrived in which I believe precious metals will now make a new bull leg. This past week has showed that gold/slv has diverged from the negative correlation associated with the dollar. Dollar has rallied, yet gold/silver has also rallied. This buying has been in the face of loss of confidence in the euro. The dollar is no longer the safe haven that others seek. I believe people are starting to realize that the dollar is just as vulnerable as the euro and any other fiat currency. People want hard assets that will maintain its value in any currency devaluation.
Better yet, the miners has showed signs of life. Many miners I mentioned in the past has broken out strongly and look to continue to rally in the months ahead despite a general market downturn. Look at EGO, ANV, SLW to name a few. The miners look a bit overbought at this point, but the next dip must be bought. This might be the last opportunity before gold takes out it's prior highs.
Here is some late breaking news that the Dept of Justice will investigate the silver mkt for alleged manipulation by JP Morgan. This will just add fuel to the fire. Click on link below to listen to the news.

http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2010/5/1_Ted_Butler_on_the_Metals_Market.html

I hope you are as prepared as I am to ride this bull mkt to new highs!! Woohoo!!