Where we’re going.

There were two probable trading scenarios when silver crossed 36-38. The first was a parabolic Fibonacci curve up. We experienced that. When I first posted about a year ago, I said the price would be attracted by the round number 100. It reached 104 in one of those typical, nobody can catch it near vertical drives. Silver retreated, run against massive short positions taken by deep pocket players. It was an obvious play, repeating forever in history. That massive profit for them materialized, and then again as usual, the market turned sloppy, directionless. That ended 1+ weeks ago.

It is time again to be hawkeyed and possibly thrilled for the long holders.

Silver moved from 73 1 1/2 weeks ago to 86+, 20% rise in under 2 weeks.

It is time to look, as in really look. All PM’s are moving in the same direction. Silver, very volatile, is leading the pack. We could generate an arm long list of fundamental reasons, but in my trading strategy, that’s just background for the pattern(s) evolving now.

The key is history. it is 100% just as true a new parabolic curve, probably bigger as it is starting at a higher number, 73ish vs 37ish, can easily take the stage. The way it worked in history is the curve ran up, there was a consolidation shelf, effectively what we’ve been on, and the damn thing started again, the second time more aggressively, in a shorter time, more of a second stage Fibonacci curve.

This 2nd parabola, which is the big money, to 250-300, will show itself once we get back in the 90ish-100ish range. We need to see a breakout above 100. The movement around 100 will tell us if the 2nd parabola is in the making. Small chop to clear out the weak hands is to be expected; then we will see and be ready to act on, this big windfall if it occurs. Time to watch.

No investment advice. I will take long ETF positions on margin, to max the payoff.

Apologies, one more fact to frame my comment here. I hold a significant amount of fabricated silver, not little, but more than any one other than a busy coin dealer ever sees, built over 45 years. So there’s that bias.