Welcome to the home of UncleNutJob. Make this your portal to all things important. I will continue to work towards my goal of organized accumulation...mixed with my 3 cents (soon to be worth only 2)... I hereby vow to provide you with an EXTREMELY biased view on topics like: The Election, International Finance and Banking, Organized Religion, Military, and more....

Thursday, February 28, 2008

Say Hello to $20 Silver!

Like the Energizer bunny, silver just keeps on going...
(today-2.44%, 30day-17.92%, 1yr-39.7%)

For the third day in a row, silver pushes higher. Also, for the third day in a row, it gains a HIGHER percentage than gold! Gold has risen about $40/oz (4%) in the last few days while silver has gained about $2/oz (10%). We are simultaneously approaching $20/oz silver AND $1000/oz gold. These are OBVIOUS natural resistance levels. Combine that with gains equal to or better than annual returns on an average mutual fund and you can count on one thing...A PROFIT-TAKING SELL-OFF!!! Yes, UncleNutJob says it's time to sell, sell, sell! It's possible the masses let them hit $20.50 and $1010, but I'd say it's risky to wait for it. The new bottoms should be $17.50/$18 and $900/$925. Jump back in at these levels and INCREASE YOUR POSITION without investing an extra penny. Then you can catch the next wave back up. I'll go out on a limb and say we should see $21.50/$22 silver and $1100 gold before the next big sell-off in May.
For those of you that have been foolishly listening to UNJ and, even more foolishly, doing what I said...YOU'RE WELCOME! For those of you that haven't, well...watch this. It just might wake you up! Cheers.

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