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Hi Ho Silver

The rubber band that is the US dollar index continues to extend from its late November hinge.

2011 SPX versus 2012 UUP
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Considering that weakness in silver has preceded major pivots lower in the euro - dollar bears would be wise to heed its call and take shelter for an early winter slumber. I am indeed biased here, but can appreciate the symmetry of their respective retracements. Both silver and the USDX exceeded mirrors of their 61.8% retracement levels. The bottom line though is that silver continues to hold prescience to risk appetites.

Silver Daily Chart
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That is - if you're not in denial.

1991 Nikkei versus 2012 Silver
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Hi Ho Silver - Away!

 

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