Buying the next leg up

Just reading King World News and notice this article from James Turk suggesting a hold above the $35 level will confirm the bull is lose and again running up the wall of worry.

We have to transfer that big picture thinking to silver. Over the past seven months, silver has undergone what everybody seems to believe was a very nasty correction. However, a weekly chart of silver is still showing a very bullish picture. The flag pattern, which you and I have spoken about previously, is still very much in place.

King%20World%20News%20James%20Turk%20Silver%20is%20the%20Next%20Apple%20%20%20.jpg


If anything, the patten has now become stronger because silver is now testing support in the high 20s and looks like it is forming a double bottom. I still think this flag pattern will send silver to $70 in three months, once silver has broken out to the upside. Because it is a descending flag pattern, the breakout pattern has now moved down to $37.50, but $35 is the more important resistance level.

Once theses two levels are taken out, that three month move to $70 begins. So, as I see it, just keep accumulating physical silver here. The fundamentals for silver continue to remain very bullish and only time will if silver is the next Apple. I continue to expect that silver will go much higher and reach my $400 per ounce forecast....

Read more: http://kingworldnews.com/kingworldn...d_is_Great,_But_Silver_is_the_Next_Apple.html
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If it gets to $70/oz in the next 3 months I offer my congratulations early to those still holding - I will have likely sold out in the mid 50's and converted to gold if it's lagging silver or cash.

Since I doubt it will happen I'll go home and play with my silver and read some Bob Chapman predictions for a laugh.
 
I try to buy each two weeks and i but silver or gold. that way I even out my average. works for me but I don't sell.
 
RetardedMonkey said:
$70/oz in 3 months?

That's dreaming if I ever heard it.
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It isn't dreaming, it is pumping. I used to use Turk to gauge customer buys and sells, but he is such a pumper, I find his information totally worthless. I remember in early May as silver was crashing, he saw a flag pattern then too. Of course the flag pattern was only about a week in length. :)
 
dccpa said:
RetardedMonkey said:
$70/oz in 3 months?

That's dreaming if I ever heard it.
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It isn't dreaming, it is pumping. I used to use Turk to gauge customer buys and sells, but he is such a pumper, I find his information totally worthless. I remember in early May as silver was crashing, he saw a flag pattern then too. Of course the flag pattern was only about a week in length. :)
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a tiny one, like one of those flags you get on the top of your burger...
 
Well, he's drawn his line here at $70 in 3 months. Maybe Turk is the next Bob Chapman, we'll have to wait and see.

But what if backwardation persists as a result of no one trusting the CME or LBMA post-MFG? The spot price could be meaningless as PM contracts become a mechanism for suppression ONLY, with no real deliveries taking place.

If backwardation holds one can be assured the published price is rubbish if it hasn't increased significantly, IMO.
 
Pumping or dreaming, it's complete BS. We'll have been lucky to have seen the bottom by then and it ain't no $26 bucks that's for sure. Everything's coming down and silver will be in the mix big time.
 
I like Turk, but I'm not sure why... This is my litmus test for him really. He has made a big prediction here, and I will provide him with leeway as such, (>50 and 6 months and I'll consider him to have been correct <- generous i know :D) but this is my decider on him as a predictor.


I do feel an upward move coming soon, all it would take is a big QE announcement within 3 months and the whole game changes.

And people seem to be moving more and more towards QE IMO, US/EUR getting too low (1.27 :)) and US index at 81! I can smell it coming :D
 
something about turk that seems quite honest and genuine. not too over the top, but hey lets see if he is right.
 
^ Hitler was honest too, he never lied that he would slaughter the jews, he merely did what he promised.

I know bit extreme, but hey ;)
 
metalzzz said:
something about turk that seems quite honest and genuine. not too over the top, but hey lets see if he is right.
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I agree, and believe that is why I like the guy so much :D But I am going to seperate my emotions from the situation and judge the lovely teddy bear on substance from now on :)
 
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