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ProShares Ultra Silver Message Board

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  • medtner1967 medtner1967 Aug 7, 2011 3:49 PM Flag

    Have been right on silver, but I am in a bad spot.

    The bounce after the May lows bothered me for one simple reason: all previous major hits to silver ALWAYS hit the 200-day moving average. We still have $3+ to go. Also, Friday's action (gold up/silver down) is a very, very poor sign of things to come. I could be quite wrong, but I suspect silver will ultimately be down a few more points before settling down. Ultimately, silver will be much higher, just not this week or month. Silver is still not seen by many people as an investment currency, but more of an industrial material. That Asia DID NOT bid up silver on Friday was even more depressing. One reason to be diversified in the metals...

 
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