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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (21931)	7/22/2011 10:35:21 AM
From: rubbersoul	Read Replies (1) \| Respond to of 220480

Hey, hey, this ride is fun.<G>

To: GROUND ZERO™ who wrote (21931)	7/22/2011 10:44:31 AM
From: Honey_Bee	Read Replies (1) \| Respond to of 220480

Well, this sounds good: Citigroup Global Markets Inc. have said that if silver follows similar patterns as seen in silver’s last bull market from 1971 to 1980 than silver could double to over $100 per ounce. “If the final rally in the last bull market repeated then we can expect $100 over the long term,” Tom Fitzpatrick and two other analysts wrote. “While the high so far this year was at the same level as the peak in January 1980, we are not convinced that the long-term trend is over yet.” Most institutional players and Wall Street banks have been bearish on silver and have called the silver market wrong for years. Some have very large concentrated short positions which have been investigated by the CFTC and were likely “talking their book.” Therefore, it is very unusual to see such a bullish call from a major bank and suggests that at least some of the major banks see the writing on the wall regarding much higher silver prices. They are likely positioning themselves accordingly. This means that the banks with concentrated short positions, such as JP Morgan, may soon see their silver positions incur even greater losses and we may see the much heralded short squeeze propel silver to much higher prices. Our long held target for silver of $140 per ounce, the real inflation adjusted high from 1980, remains viable and becomes more likely by the day. Read more: zerohedge.com Bloomberg: bloomberg.com