Don’t Sell Silver Yet, Uptrend Is Intact: Chartist

You can spend time analyzing Ben Bernanke's musings, the latest squabble in Washington or the ups and downs of earnings seasons, geopolitics or inflation. Or you can focus on the only thing that matters: price. For Chartered Market Technician and founder of J.C. Parets, price is the only game in town -- and the only thing that separates a winner from a loser.

Worried about the 50% year to date pop in silver? Don't be, this enthusiastic chartist says as he thumbs through a stack of graphs that plot the steep, upward slope of the formerly forgotten precious metal (SLV).

Of particular interest to him is the ratio of silver to gold. It is unquestionably high, perhaps even perilously so, but clearly still in an uptrend and setting new highs. Thus, he says, it' a definite hold but, notably, not a buy.

"We don't chase things like this," he says. " If you're not in already, it would not be wise at this level."

When will the party end? "No idea," Parets says. "But I can tell you, it's going to end ugly."

And speaking of continuation of trends, Parets also says you'd be wasting your time trying to catch a falling dollar and equally at risk trying to short oil, adding that he sees every indication crude will re-test the previous $147 high of 2008.

We want to know what you think. Write to us at

Full Disclosure: The Charts and Opinions are entirely that of J.C. Parets and no company or organization is responsible for its contents. Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see the Terms & Conditions <> page for a full disclaimer.