Ummm. No counter-party risk. If you buy physical silver or gold,
the only ponzi or pyramid scheme your susceptible to is how you
stack it in your safe. I stack mine like a pyramid. I use the bars to
build the pyramid and take my rolls of Silver coins to build the
pillars guarding my pyramid. Hidden deep inside my pyramid I
have gold coins. Have you ever watched the movie National Treasure?
Get my point! Buy Gold and Silver people or be prepared to get
annihilated. After they're done luting the stock market, they will
take the winnings and push Gold and Silver to unheard of prices.
If you don't believe me, keep buying worthless paper and subject
yourself to counter-party risk. Another cause for great concern is
a dollar devaluation event which is on the horizon. How do you
protect yourself against devaluation of the dollar or an outright collapse?
On to the charts. Silver is sitting in no man's land at the moment.
The weekly chart is sitting in a reverse head and shoulder formation.
Lowside resistance is at 13.20 and upper resistance is formed at 16.90.
The daily chart is also in a reverse head and shoulder formation with
downside resistance at 12.10 and upside resistance at 16.60. If Silver
attempts to retest these downside resistance points, I am a buyer!
Daily and Weekly Chart:
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