The Banksters had a great week with a two hour take down from $37.50 to almost $33. In my never ending quest to pin the tail on the Banksters, I used a simplified version of Elliott Wave to create a Wild A$$ Guess about what could possibly happen next week.
Although this WAG is not actually a prediction, I have bet my new money on it by buying the ProShares Ultra Silver ETF (AGQ) Friday when silver was near $34.50. If silver rallies smartly toward the $36.50 level by Tuesday (or possibly the following week), and thereby completes the pattern guessed at in the drawing below, then I will be on high alert for another round of blatant Bankster bashing by plunging the price of silver to below $33 later in the next week or two.
That terrifying volatility will likely put all the weak hands on the sidelines and holding nothing as the price of silver then stages a massive 3rd wave rally to more than $50.
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How I'm Handling Silver Now
Published 03/03/2012, 11:00 PM
Updated 07/09/2023, 06:31 AM
How I'm Handling Silver Now
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