Silver: Moving Higher From Here?
Silver: Moving Higher From Here? by Rory – The Daily Coin
This weekend was the monthly flea market and I was able to pick up a big handful of silver Panda’s. Not just any silver Panda, but 2011 first-strike, PCGS graded MS70. They are beautiful and I was able to acquire them for $31 each. I know what you’re thinking “that’s a lot to pay for for a silver coin when silver closed on Friday at $16.49”. Well, if you check the market on these particular coins you will find the current market is well north of $40 per coin. I found some as high $120 per coin – that had sold for that amount.
If you have been following the silver “market” the past couple of weeks you already know silver has moved to the upside on eight of the past nine trading days. The retail “specs” on the COMEX are continuing to move into the short side of the market, even though silver has risen more than $0.50 per ounce in the past week. That’s a huge move. Gold is performing well also, especially, with the Federal Reserve Note moving to the downside. The Federal Reserve Note could be moving towards a low not seen since before the election. This bodes well for both silver and gold, especially in the coming weeks.
If you are a stacker of either or both gold and silver this weekend or Monday would be an excellent time, if you are able, to add to your stack. The market is poised to move higher in the very near future and could potentially move a lot higher. The move that silver is poised to make could be breath-taking – along the lines of 10% or more. If silver were to add 10% that would mean we would be looking at $18.25 silver. That’s significant.
Is any of this guaranteed, of course not. The criminal banking cabal, with the blessings of the regulators, could come in and move the market in whatever direction they wish. Anyone who has been following the work we do here at The Daily Coin already knows “there are no markets only interventions” as Chris Powell famously said. So, what is said needs to be taken seriously, but needs to taken with the caution of dealing with a manipulated market.
What appears to be happening is the commercial traders are in a position to squeeze the retail traders and since when did the bullion banking cabal miss an opportunity to rake in millions of Federal Reserve Notes that were laying on the table just waiting to be sucked up? When? This is what is happening right now and we, the stackers, need to take advantage and “fire” some of our dry powder before this coming move begins. According to some extremely reliable sources silver could move to the upside in a way that has not been seen in a couple of years. Some, if not all, the technical “lines” could be crossed or could, potentially, be blown-out and if that happens, we could see the later part of 2017 becoming a year for silver stackers to remember.
Charts – gold and FRN – compliments of The Daily Economist
Does this mean the “end of the COMEX” – of course not. The CRIMEX is not going anywhere until the Chinese determine it is time to go. What it means is we could, potentially, see silver and gold break free – at least for short period – and make a serious move to the upside. It may be time to get excited about stacking and holding a stack.
None of this guaranteed and nothing is carved in stone, but the way the charts, the COT, the longs and shorts are all set up, it’s a delight to be writing this and, hopefully, giving all of us a reason to seek out those bargain silver coins like the ones I picked up this weekend. If you haven’t already clicked the banner for “silver at spot” now may be a good time to pull the trigger.
Here’s one the coins I picked up this weekend.
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