Numbers to Watch in Comex Silver and Gold
By: Rick Ackerman | 4 October, 2011
|
| Gold did everything we’d asked of it yesterday, but Silver still has some work to do if precious-metal bulls are going to go back on the offensive. Full Story |
Silver Skirts Edge of an $8 Crater
By: Rick Ackerman, Rick's Picks | 28 June, 2011
|
| Comex Silver ended the day near the edge of an abyss, threatening to plunge, eventually, to as low as $25 if even mild selling continues for the next few days. Specifically, our downside target for the July contract would be $25.13 if the futures were to settle for two consecutive days beneath the key low at $32.30 recorded on May 12. Full Story |
Nervous Bulls Energize Silver
By: Rick Ackerman | 25 April, 2011
|
| For now, though, we need to remind ourselves that great bull markets are supposed to scare hell out of bulls and bears alike — just as this one has been doing since last autumn. Check out the amazing spike in Silver’s weekly chart below. While we wouldn’t attempt to argue that its parabolic pitch can be sustained indefinitely, we suspect that, no matter how ferocious the inevitable corrections yet to come, they will look relatively innocuous years from now. Full Story |
Our Man Chuck Says Stocks Are at Cliff’s Edge
By: Rick Ackerman and Chuck Cohen | 15 November, 2010
|
| Everything is in place for something extraordinary in the markets. Silver is one of the keys, since it is a primary beneficiary of QE2. Even a novice technician can see an exhaustion spike and reversal in the chart below. Plus, the sentiment in silver was recently at the highest level since March of 2008. Yipes! Meanwhile, the broad stock market is ripe for an incredible decline, most likely a mammoth panic. Be careful here. Full Story |
Silver’s Top at 21.645 Bears Close Watching
By: Rick Ackerman, Rick's Picks | 28 September, 2010
|
| Ordinarily we advise using a stop-loss of just a few pennies or less, but in this case the Hidden Pivot target we were looking to short seemed capable of sending the futures into a nasty corrective dive. This did in fact occur, although we expected – still expect – more than the 28-cent sell-off that has taken place so far. However, if the futures should instead come roaring back today or tomorrow, we would take that not as a sign that an important Hidden Pivot target had failed to work, but that it had been able to contain the rally only briefly. Full Story |
Silver’s Sharp Selloff No Cause for Concern
By: Rick Ackerman, Rick's Picks | 6 May, 2010
|
| Silver quotes have come back down to earth with a thud, so perhaps it’s time to review our outlook, which was, and still is, quite bullish for both the intermediate and long-term. The Comex July contract has shed a hefty 10 percent of its value since Tuesday, settling at 17.51 yesterday after peaking just two days earlier at 18.89. Full Story |
Hi-Ho, Silver, Aw-a-a-a-ay!
By: Rick Ackerman, Rick's Picks | 30 April, 2010
|
| All of this bodes well for Silver’s performance in the weeks ahead, and if the rally goes just a little further today, exceeding the 18.900 high recorded in early January, we’d infer that buyer will have little trouble punching through the multi-decade high at 19.495 made near the end of 2009. Moreover, and to be precise, a breakout above last year’s high would all but clinch a move to at least 20.21, or to 21.53 if any higher. Full Story |
Gold, Silver Back To Bargain Levels
By: Rick Ackerman, Rick's Picks | 24 July, 2008
|
| So what do we think of the bearish price action yesterday in precious metals? We see it as a buying opportunity, and we will therefore continue to update our forecasts with correction targets that can be bottom-fished with relatively little risk. In the meantime, anyone who thinks the selling in precious metals is going to continue for much longer obviously does not understand the implications of a Federal budget deficit soon to leap above $10 trillion and presumably out of control. Full Story |
Downside Targets For Silver & Gold
By: Rick Ackerman, Rick's Picks | 19 September, 2006
|
| Gold stocks got pounded once again yesterday, buttressing an earlier forecast here of a further decline in December Gold futures to at least $513. We’ll continue to fish for a bottom in selected stocks as gold falls, since this can nearly always be done without risking much more than small change, However, I have my doubts that any significant turn will occur before the target is reached. Full Story |
Are T-Bonds About to Dive?
By: Rick Ackerman, Rick's Picks | 2 March, 2006
|
| For those of you who missed yesterday’s intraday bulletin on Comex Silver, here it is: May Silver has blown past the 10.160 rally target I gave here a while back. Since the next hidden-pivot resistance above is 10.270, we'll make that our minimum upside projection for the very near-term. I am confident the intermediate-term bull cycle begun in December will reach a minimum 10.776 before it takes a healthy rest. In fact, Silver surged anew after I posted this alert, pushing as high as 10.265 – a half-cent from my target – in early-night trading. We covered a very small short position in Agnico Eagle just before the surge. Full Story |
Junk Silver’s Role in a Crisis
By: Rick Ackerman, Rick's Picks | 14 December, 2005
|
| Concerning the usefulness of silver in a currency system in which metal backing has been restored, I agree with you that having a couple bags of junk silver around could prove to be a lifesaver. Many years ago, I bought a few bags myself near the top – that was before I learned about hidden-pivot price targets -- and wound up reselling them to the dealer for less than a third of what I’d paid for them. It left me somewhat skittish about repeating the mistake, but I’ve come around in the last few years, especially after buying so many Tooth Fairy silver dollars for my kids. Full Story |
One Silver Bull Who’s Not Scared
By: Rick Ackerman | 6 May, 2004
|
| We’ll let the Warren Buffett piece ride till tomorrow, since I want to get something else of particular interest out to you this evening. I’ve just received an insightful letter from a long-time pen-pal, Karl, who sees bullish parallels between silver’s current, corrective chart pattern and the pattern it traced out between 1974 and 1978 before going parabolic. Full Story |