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Pan American Silver Corp. Message Board

  • axstone_1650 axstone_1650 Apr 29, 2008 11:23 PM Flag

    Silver bottom in sight

    THe 50 % FIB should hold
    15.50 is in site...


    Silve Chart http://tinyurl.com/3ae5eh

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    • IMO the use of charts is often very helpful in making investment decisions. But we must not ignore the fundamentals. In the cases of gold and silver, their long term upward trends have resulted from a weakening $USD. The $USD has rebounded somewhat recently, and gold and silver have sold off some as a result. But I don't expect the $USD to soar upward, so I'm not concerned about gold and silver dropping much lower. Sinclair and others share my view. Therefore, I have been buying additional shares recently, and will continue to do so until I have exhausted my buying power. Rising inflation will surely drive up silver prices very soon. SS

    • If you look at the chart the past two years for sure we have had a major pull back in the month of april with the rest of the year being good. I think it will be that way again this year. The actions by the Federal reserve is nothing but criminal attack on the dollar and I do not see how they are going to keep the dollar from dropping. The other factor is metals is a good place to be in inflation periods. There is little doubt that we are going to have massive inflation for the rest of the year.

      I was looking into buying a new bike yesterday. My good friend is a salesman at the store. He was crowing that he is over 20 percent of last year. I mentioned to him it looks like all the bikes are up 40 percent or move over last years prices. I asked if he was actually selling more bikes and he admited no the actual number of bikes is less than last year. I think this is the case in most of our wonderful numbers that are used to tell us things are good. The economic measures are basically not good when they are measured in dollars which is not a stable measurement item.

    • To be contrarian to my earlier contrarian position, from looking at your chart one could reasonably conclude that silver completed Elliot wave 5 in March of 2008.

      And at present is at a point just below the peak marked by the small #2 under the big circled 5 in the below 10-year graph ending in 2011.

      http://www.safehaven.com/images/swanson/3864_a.gif

 
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