Will SLV touch $10 or $60 First

Jimmy Rogers maintains Silver is not a bubble:

“I hardly see how silver could be a bubble when, even at its top, it’s still below it’s all-time high,” Rogers explains. “That’s not much of a bubble. A bubble is when things are screaming up every day and they go to new highs, two to three times their old highs. We’ll have a bubble, we’ll have a bubble in commodities, we’re not there yet.”

In fact, when asked about any sales he’s made within his vast commodities holdings, Rogers said, “No, no, no I have not sold any commodities.”



Read more: http://www.beaconequity.com/jim-rogers-on-the-latest-commodities-plunge-2011-05-10/#ixzz1M5lnso6B

 

every one should vote for $60 so Wall street will think people are bullish... when avg Joe is bullish i dont have to remind what wall street crocks can do...

once it reaches $20 buy the hell and within 10 yrs it will go back to $100... see easy money..

 

This from the same guy who said rice was a buy at 16???

 

he probably eats a lot of it. this may have clouded his judgement.

 

bought at 34. stopped out at 36.

I think it will go to 26. then back up again.

what do your guys think?

 

My vote - it has a long way to go...down that is.

 

hollow red candle on SLV and USO today. a bounce is very likely.

 

Take note of my chart I posted on May 07, 2011: http://www.elitetrader.com/vb/showthread.php?s=&postid=3177941#post3177941



SLV will hit the $18.00 range within 4 - 6 weeks, then slowly work it's way up to $30.00 by December 2011. Would anyone like to guess were I got the green portion of that chart? I'm sure some sharp eyes might recognize it.

 

"Wait a minute, Doc. Ah... Are you telling me that you built a time machine... out of a DeLorean?"

 

too many delusional bulls including hedge fund managers. "price manipulated down" (was not it manipulated up???)
http://www.marketwatch.com/story/he...der-armageddon-2011-05-12?link=MW_latest_news

Eric Sprott of Sprott Asset Management called himself an “unrepentant bear” during the conference.

“We’ve been in a secular bear market since 2000,” he said. “Governments and central banks have tried to prevent the natural flow of that, which has led to housing mania, bank bailouts and financial crisis.”

Banks remain too leveraged at roughly 20 to 1 and their assets are still mainly government bonds and mortgages, argued Sprott, while noting that government bonds may be overvalued and the housing market keeps going down.

Sprott has been a bullish on gold for more than a decade. He recently started a silver fund, and said Thursday that precious metals are “the way to survive the coming Armageddon.”

Silver slumped in recent weeks, and Sprott said the price of the metal has been “manipulated down.”

Silver fell by $6 in 13 minutes late on a recent Sunday, when the market was thinnest, he commented. That was followed by four margin increases, Sprott elaborated.