Silver and Gold Will Remain in Strong Uptrends
Silver and Gold have corrected after Gold hit a new all-time high a few weeks ago, and short-term traders took that as a profit taking opportunity. However, the uptrend will soon resume and new highs significantly above Gold's recent all time high and Silver's recent multi-decade high will be achieved in 2011.
Silver has started the sweet spot of what should be a near parabolic rise that lasts several years. Wave fives are the most explosive waves in precious metals, and Silver is inside the middle of wave 5 up, with a huge rally ahead when wave {5} up of 5 up arrives. Right now it is in wave {3} up of 5 up, so there is plenty of upside left in this rally.
Fundamentally, the growth in the supply of Silver will fall short of the growth in fiat currencies, which will put powerful upside pressure on the fiat price of Silver.
Gold will follow the same pattern, up bigtime, over the coming years.
The HUI is finishing a Symmetrical Triangle, and once complete, should rise sharply, along with precious metals.
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"Jesus said
to them, "I am the bread of life; he who comes to Me
shall not hunger, and he who believes in Me shall never thirst.
For I have come down from heaven,
For this is the will of My Father, that everyone who beholds
the Son and believes in Him, may have eternal life;
and I Myself will raise him up on the last day."
John 6: 35, 38, 40
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Author: Robert McHugh
Robert D. McHugh, Jr. Ph.D.
Main Line Investors, Inc.
Robert McHugh Ph.D. is President and CEO of Main Line Investors, Inc., a registered investment advisor in the Commonwealth of Pennsylvania, and can be reached at www.technicalindicatorindex.com. The statements, opinions and analyses presented in this newsletter are provided as a general information and education service only. Opinions, estimates and probabilities expressed herein constitute the judgment of the author as of the date indicated and are subject to change without notice. Nothing contained in this newsletter is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision. Prior to making any investment decision, you are advised to consult with your broker, investment advisor or other appropriate tax or financial professional to determine the suitability of any investment. Neither Main Line Investors, Inc. nor Robert D. McHugh, Jr., Ph.D. Editor shall be responsible or have any liability for investment decisions based upon, or the results obtained from, the information provided.
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