Courtesy of Read the Ticker
Fundamentals are important, but they must show up in the chart. And when they do and if they may matter, it is a good sign if price and volume waves show a change of character.
The Point and Figure chart below is readtheticker.com version of PnF chart format, it is designed to highlight price and volume waves clearly (notice the Volume Hills chart).
Silver ETF volume is screaming at us! The price volatility along with volume tells us those who have not cared, are starting to, those who are wrong are adjusting, and those who are correct are loading up. Soon the kettle will blow and the price of silver will be over $20.
Normally silver suffers in a recession, maybe this time with trillions of paper money being created real money is the fundamental factor which becomes a higher priority over the demand for silver use in industry.
The silver short term cycle (red) looks like the bottom is in, while the longer term cycle (black) looks higher into the next 24 months.
Investing Quotes…
.."In a bull market your game is to buy and hold until you believe that the bull market is near it’s end. To do this you must study general conditions and not tips or special factors affecting individual stocks. Then get out of all your stocks; get out for keeps!"..Jesse Livermore
.."If past history was all there was to the game, the richest people would be librarians"..
Warren Buffett
.."Money can't buy you happiness but it does bring you a more pleasant form of misery"..
Spike Milligan
…"I always believe that prices move first and fundamentals come second"..
Paul Tudor Jones
..“If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.”..
Bernard Baruch
