Let's just ignore the day to day shenanigans in the silver market and look at the quarterly chart going back to 1971. Note the 2 bull markets in the late 1970's and 2010/11. Note the Bollinger Band and compare it with our current bull market, which frankly is a grind without one iota of speculation. I am informed by a very keen technical analyst that 5 closes above the BB is a 7 sigma event and ALWAYS precedes a reversal, irrespective of the period. Visualise the bell curve. Currently we are modestly above the BB which for me is not of great concern. The highest quarterly close is 37.58 in Dec 2010 followed by 34.48 in June 2012. I hope all the posters on IVR have some physical silver and/or gold, you are going to need it by the end of this year. My gut feel is that the March quarter this year will be well above the previous two highs. For me I'm sleeping easy at night.
IVR Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)