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Joseph Russo

Joseph Russo

Joe Russo is an entrepreneurial publisher and market analyst providing digital online media solutions designed to assist traders and investors in prudently and profitably navigating…

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Silver: It Is What It Is, a Bear Market

Silver Bear

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.

Daily Silver Chart

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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Our Long-Term Trend Monitor subscribers have been hedging their physical rather successfully for nearly two-years now. (See below stats)

Stats

Bottom line - all that matters to our subscribers and us - is being right more often than being wrong, and establishing prudent hedges along with winning and profitable trades in every timeframe. This is what we've been accomplishing for our members since 2005.

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Updated quarterly with unlimited email alerts as market conditions dictate, the Long-Term Trend Monitor provides the exact same type of service - but is dedicated exclusively to the self-directed long-term index investors of the equity and precious metals worlds. It too performs extremely well, and with limited downside risks.

The Chart Cast Pilot and Elliott Wave Technology's Guardian Revere Long-Term Trend Monitor are the proud sponsors of this communication.

 

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