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Friday, April 29, 2011

Not Much of a Correction

Wow, that was a very short correction, in fact it wasn't a correction at all. Just a temporary dip that fooled many folks.

We still seem to be having trouble breaking that $49.00 resistance point. Silver has not had a rest for many months and it is way overdue, but given the dollar market it may not rest any time soon.

Technical charts have been so untrustworthy as of late, it's hard to say where we are going, or better yet, now fast we're going up. Up seems to be the only direction that Silver knows at this point.

Watching several online suppliers and the speed at which their stock gets depleted is amazing. Some small retailers are selling out the day that they receive inventory shipments from their suppliers.

So, I'll just keep buying and watching and laughing at those still in the dollar. China recently announced that they will get out of the US bond market to the tune of $2 trillion, or 2/3's of their holdings. When that happens, watch everyone pile on and sink the dollar even further.

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