Beaten Down, Battered, and Bruised
The good news is that a lower nominal dollar price for monetary metals means more bang for the buck. Extremely depressed price levels are signals to accumulate inventory within the buy-low/sell-high paradigm.
Better yet, shorting the broken paper markets and then translating those profits into physical acquisitions is another way to slay financial repression.
More than a month ago, when silver was trading 13.6% higher than it closed out the week, we shared three downside targets. The nearest was $16.76, and that target was realized in mid-October accompanied by a downside momentum confirmation - suggesting lower lows were likely.
Still outstanding, the second $15.15 objective nearly captured on Friday, and the last downside price target at $13.00 remains on record.
Silver closed well off Friday's low, and in doing so, registered a bullish momentum divergence. We'll see how that plays out going forward. Until then, it is what it is, a bear market - deal with it.
Until Next Time,
Trade Better / Invest Smarter
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