Fabulous correction in silver today! A $2 correction and what might be a bullish flag or triangle with apex at $33. As I write at 2:00, the apex os the triange is 3.5 hours away according to my chart. Will we get a breakout or what? It could have dome enother leg down earilier to do a Fibonacci 38.2% or 50% correction of the breakout from the Christmas high of $31, but it didn’t. Instead we got a flag pattern. Wouldn’t it be amazing if this entire correction and flag formation happens in only a single day?

I just looked at my charts again. The silver price is right on the upper line near the apex of the flag triangle pattern.

The apex prices at the midlines of the triangles/flags for silver and gold would be $33.005 and $1402 respectively.

Will silver break out? Can’t wait!

As I write this message, silver is off a couple of cents. It is actually sliding right down the upper trendline of the flag! “Sliding down the razorblade of life,” as Tom Lehrer said in one of his infamous satirical songs.

Is this the most exciting market possible? It’s kind of a trader’s dream to me.

However, gold is on the lower trendline of its pennant. It’s not confirming silver (yet?) Wow.

Gold mightbe breaking down out of its pennant. Oh the drama. Wow. All’s fair in love and war. Maybe this is gonna be a bigger A-B-C corection? We shall see….

Here endeth my running commentary!

Al and Rog, I love your show – have listened to it for 7 years – it’s been getting better all the time since last year, with a great balance of subjects.

Housing down? Must be inflation. Now the “banker’s” and their insider buddies buy, turn on the cash spigot and get ready to sell.

bonds are toast…

Roger,
Is the drag down in the overall stock market, a long term or
a short term call?
I ask this because , a couple of weeks ago… you were
thinking that the market would go down hard in the
later part of the year…
Is this a rethink , and a new call ,based on the current situation
in Mid East
thanks for all your work

some of my small oil producers were up very strong today . but Panhandle PHX which i bought as it droped continued to drop suprising me . my silver and gold miners mainly went up, but again some suprized down

Andrew Jackson, when asked what his greatest accomplishment was while President, responded, “I killed the bank!!” He was referring obviously to the Bank of the U. S., which was the extension of the European banking cartel, owned and ruled by the Rothschild family, and the fore-runner to the Fed. Res. bank. It took the “banksters”, (or “bookies”, as one of our fellow bloggers calls them), 77 years to get their hooks back into the money making business here. We need to break the “bank” again!!! Let’s kill the Fed bank, and leave our kids and grandkids an America, they and we, can be proud of again!! Until we return control of the money back to local/State authority, we will forever stay in this cycle of “boom” and “bust”, inflation/deflation, “bull”/”bear”. What do you all think? Right or wrong?