Silver Outperforms Apple?
One of my favorite blogs to read, King World News, hits it out of the park again with a well reasoned and documented article on what is going on in the silver market and where James Turk expects it to go in the next few months and years. The article is entitled James Turk: Gold is Great but Silver is the Next Apple. In the interview with James Turk, he said the following:
We have to transfer that big picture thinking to silver. Over the past seven months, silver has undergone what everybody seems to believe was a very nasty correction. However, a weekly chart of silver is still showing a very bullish picture. The flag pattern, which you and I have spoken about previously, is still very much in place.
The article gives a bunch of great graphs that really show the long term technical patterns that silver has been setting up. Based on Mr. Turk’s estimations, silver should be hitting $70.00 before three months have passed. He feels that eventually silver should hit $400.00.
If you invest in silver, make sure to take physical delivery because a nasty short squeeze seems to be slowly developing in the physical market. If you own silver paper, you are at risk of a default delivery situation. If you are just getting started, be sure to read A Buyer’s Guide to Silver.Tags: silver