The good news is that a lower nominal dollar price for monetary metals means more bang for the buck. Extremely depressed price levels are signals to accumulate inventory within the buy-low/sell-high paradigm.
Better yet, shorting the broken paper markets and then translating those profits into physical acquisitions is another way to slay financial repression.
More than a month ago, when silver was trading 13.6% higher than it closed out the week, we shared three downside targets. The nearest was $16.76, and that target was realized in mid-October accompanied by a downside momentum confirmation – suggesting lower lows were likely.
Still outstanding, the second $15.15 objective nearly captured on Friday, and the last downside price target at $13.00 remains on record.
Silver closed well off Friday’s low, and in doing so, registered a bullish momentum divergence. We’ll see how that plays out going forward. Until then, it is what it is, a bear market – deal with it.
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Bottom line – all that matters to our subscribers and us - is being right more often than being wrong, and establishing prudent hedges along with winning and profitable trades in every timeframe. This is what we’ve been accomplishing for our members since 2005.
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