Friday, June 15, 2007

Silver Getting Ready To Rally?



I'm profitable on my long silver position again as both gold and silver were up today.

You'll notice in the above chart that silver is showing relative strength compared to gold. Gold took out last month's low while silver is putting in what appears to be a higher low. I take that as a sign of strength and a sign that maybe a rally will take place in the very near future.

I'm going to sit tight with my long SLV position even though there are many people who are negative on the metals. We'll see what happens.

2 comments:

Unknown said...

Kevin,
an interesting article discussing 5 and 10 year cycle lows for silver. I thought you might be interested.
http://www.financialsense.com/Market/daily/friday.htm

Kevin said...

Thanks, I actually just read that article just a few minutes ago.

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