The Phaserl


Really Nice Bottom in Silver – Maybe

from Elliott Wave Technology:

If you’re wondering whether silver has finally bottomed, just hang on because in a minute, we’re going to outline the 3-essential criteria points that will determine if this is going to be the case or not.

Is $14.10 all she wrote for silver bears? Technically, we cannot yet confirm this; however, I must admit that this particular bottom does appear rather alluring.

Don’t get your shorts all twisted in a bunch just yet people. Remember, you don’t want to fall prey to every pretty-looking bottom that comes along now, do you?

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6 comments to Really Nice Bottom in Silver – Maybe


    Silver has not bottomed. We all have nearly 2 more years of manipulations before the dollar sees its’ final demise. Things can go on for long, long time. And they will. Sure, there will be false flags and war but hang on the elite shall.
    This is not to say: “Don’t buy Gold or Silver, it’s to whisper to you all….”buy steady. Don’t fear. Save a little paper too.”
    You will need it. Work. Do something constructive everyday.
    All hell’s gonna break loose.

  • Frank Zak

    Elliot Wave has not worked in 35 years. Only by accident.

    W.D. Gann didn’t work.

    Silver has now hit the 79 to 85 gold to silver ratio.
    I have been giving this number 2 years here. No surprise
    the market exploded when it hit 79.06 on a Sunday night
    as there is an 83% chance of profit.

    Here’s the problem. Once 79 is hit, there is an 80% chance
    82 gold silver ratio will also be hit. It has not been hit yet.

    At $1040 gold, silver would be $12.68.

    So, keep what you own and buy more silver if it drops.

    It hit the kill buy zone for professional traders at 79.
    They will start buying in huge quantities down to 85 ratio.

    Extreme whipsaws occur when the pros arrive and they are here now.

  • Joe

    Your thoughts are sound Iguana. And Frank – sometimes I think I ought to change the name of my website because for the most part, much of my work has nothing whatsoever to do with Elliott Wave. Sure would go a long way to avert the negative snap judgments people have tendency to make. Thank you both for commenting.

    Never say never… Keep all possibilities open… Bear in mind that short of Armageddon, unless hard money once again becomes legal tender – you will eventually need to convert physical into paper for basic needs.

    • Frank Zak

      Hi Joe,
      Not a snap judgement on Elliot Wave. Read the books
      30 years ago. Followed it a long time.

      Never knew anyone that made money from it.

      Pro traders have things the public is completely
      unaware of.

  • Bob

    Elliot wave or not, Joe Russo makes some good calls. His current downside target is $13 if things don’t hold. That is what my system shows also. Frank’s $12.68 call will probably be hit- after silver tries to go up and doesn’t hold. I’m a silver bug too….trying to be patient….

  • Joe

    Frank – thanks for clarifying. Elliott Wave fails miserably as a trading or investment strategy – I have stated this unequivocally numerous times. It is rather useful however, in providing a blanket framework over the price action for general reference.

    Bob – thanks for the support. More important than price-targets and predictions is the proper positioning and hedging if need be – to protect our long-term investments.

    After all, we need staying power – unless one can produce capital endlessly out of thin air, there will come a time when there is no more capital available to keep averaging down one’s cost basis in perpetually buying the lower lows.

    We must all strive for a proper balance of income, savings, physical asset acquisitions, and other investments that will eventually supplant earned income with a sustainable passive income.

    Thanks again for the commentary.

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