Thursday, June 19, 2014

Why $21 silver would be nice

Here's a silver price chart:

It's been quite a long time since silver had a weekly close above its weekly SMA(50). So if it were to somehow pop above $20.60 or so, it might possibly portend some extended excitement for goldbugs.

We could all go back to criticizing fiat currency, and calling for the imminent collapse of sociamalism, and stacking phyzz, and worshiping Eric Sprott, and quoting the collected works of Turd Ferguson and Peter Grandich. And buying shitty juniors with 3m 0.6g/t intercepts.

Ah, it does bring back the memories....

Til then, though, remember that we're still perilously close to $18.50, with nothing but a string of lower highs on this chart going back years.

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