-Gold/silver due for a correction and SLW seems overbought, but... -gold/silver ratio still high historically -Q/E2 should bring dollar down, bringing more money in PMs -SLW should have record earnings -global recovery should increase silver demand
datbe: "Yes, but got a bad feeling about FED screwing the whole thing up with QE2 being QE super light and the whole precious metal group tanking, while FED buys securities to support DOW and S&P."
I'm with you. How can Geithner go to the G20 and tell everyone we will not trash the dollar and then Bernake come along two weeks later and blatantly trash the dollar announcing a large QE2? It would seem to make sense for Ben to use language of being very light on QE2 and then continue with a stealth money printing program that is moderate to heavy. It won't work longer term of course as the foreigners are watching closely but it will give wiggle room here at home.
I lightened up this morning on SLW and SIVR. Now the rumors about Asians buying physical to squeeze the shorts will probably come true driving a huge spike up with me sitting with 40% on the sidelines.