"One of the things all silver investors have to realize is its gains are not comfortably smooth, but highly erratic. Most happen over very-short periods of time, and then silver really tests investors? patience by drifting listlessly for long periods of time between these spikes. After that early-1974 parabolic spike, silver flatlined for 4 to 5+ years depending on how you measure it. It didn?t again exceed February 1974?s real high until August 1979!"
and:
"$30 silver today is only 22% of the way to matching its blowoff parabolic top at the end of its last secular bull in early 1980. Considered another way, silver would have to soar 350% from today?s levels before it could exceed its all-time high! So while $30 certainly feels high compared to recent years? silver-price history, compared to the end of a mighty secular bull it is actually relatively low.
Silver stayed above $30 real more or less continuously between August 1979 and April 1981! Any price that persists for 19 months is nowhere close to being a bull-killing topping level. The popular mania that drove silver stratospheric in late 1979 saw it exceed $100 real on just 20 trading days, and it closed over $125 in today?s dollars on only 4 days. All the Wall Street arguments implying today?s $30 is so high that silver?s bull has to be over are just plain incorrect, historically myopic."
Hope we don't have to wait four or five years for the next spike:)
CCU Price at posting:
57.8¢ Sentiment: LT Buy Disclosure: Held
