TrueNorth

Silver's getting hammered this morning, and the COMEX isn't even open yet.

cool, thanks!

I have done well on my silver. I think it may be prudent to take profits and buy on the next dip(s).

[Like most of us here . . . ]Bob Hoye is anticipating a correction in the markets. He's bearish on silver stocks and also suggests lightening up on the senior golds. Juniors? "Accumulate on weakness." also "Silver is about to plunge relative to gold." Bob Hoye on Howe Street 7 Aug 2009

[Like most of us here . . . ]Bob Hoye is anticipating a correction in the markets. He's bearish on silver stocks and also suggests lightening up on the senior golds. Juniors? "Accumulate on weakness." also "Silver is about to plunge relative to gold." Bob Hoye on Howe Street 7 Aug 2009

Just wanted to chime in about being able to take riskier moves career-wise because you don't have a mortgage. It has had a very positive impact on my quality of life, not being tied to a mortgage. Career also far more interesting because of this. PS I agree with Dr Bubb that prices will fall and that renting is a sensible thing to do.

By my calculation, silver's up 8.5% in just three trading days. Gold has not made a similar percentage gain - only 3 and a bit percent. So perhaps that is how silver makes a bigger move than gold?

Thank you.

I checked when it was last at/near 50 -- March 2008. Did you do anything at that turn RH? As I have said before, I am intrigued your strategy of trading silver for gold when the ratio is low. I may do so myself.

Great piece from Stewart Thomson on 321 gold today. 8. All gold astronauts report to the gold rocket launch pad. Prepare for the countdown! 9. What if you don't have "enough" gold? Answer: Wait. Do not chase price. Gold may rise $500 now. It may rise $100. It may tank $500. We don't know. If gold soars to $1,500 now, great. If you have no gold and gold soars to $1,500, who cares. Buy gold weakness. Don't run out to the launch pad and grab on to the rocket as it takes off. The professional gamblers are inside the rocket in space suits. The bankers, and most of you, should be in Mission Control. The madman "chase the rocket as it blasts off and grab on!" approach could see your fry as the rocket takes off. If the rocket takes off soon and you have "too little gold," wait, it will come back down later. Buy then. Rocket chasers don't make money. They get burned to death, by the bankers who are sitting in mission control. I'm sitting there too. Compared to them, maybe I'm in a high-chair with my bib on, but I'm there. http://www.321gold.com/editorials/thomson_...n_s_080409.html

muchas gracias!

Interesting chart, but would be grateful if you would tell me its significance, please?

Thanks for the update. I saw my first UK-based "Cash for Gold" ad on telly last night. ITV I think it was.

I think the little bugger's on holiday in Majorca!

Thanks for that chart. The recent drop in silver relative to gold has taken me by surprise. The chart's uptrend forecast is most reassuring.

I simply plan to be non-UK domiciled when these profits are taken. Is that a naive thing to expect?

+1 for booking profits in gold.

Has anyone seen Jim Sinclair's message on his site? Time For Delivery Sounds ominous.

I have been thinking about this a lot recently, as my silver has out-performed my gold, and I felt the impulse to take profits. I am kicking myself for not taking profits last week, when I broke the "50% profit" watermark in silver. That figure's down to 42% today.

I think JS is referring to the US DX breaking down, and that being the trigger or "pivot point" on Martin Armstrong's hand-drawn chart.