Tuesday, April 19, 2011

SILVER BREAKS $44

Silver has just breached $44, last touching $44.10, the same day gold surpassed $1500.  Now that silver has cleared $44, we would like to see it hold these gains and close access market trading above $44 to see $45 taken out this week.
If silver can hold $44 here, $45 looks imminent. 
Amazingly, many of the silver miners are down today, some off  >10% from recent highs.  It appears the mining stocks are expecting a large correction in silver at or near $45.  If silver can move through $45 without a significant correction, look for silver miners to blast higher as the shorts will have to cover in a panic.