$SILVER - Daily Candlesticks

While gold staged another powerful move higher on Friday, Silver seemed stuck, with a gain of a little more than $1. This has led to a massive flood of speculation into the $ZSL (ProShares Ultra Short). Those who are going double short on silver seem as if they are failing to realize that silver was tasered three times last week by margin hikes in the futures markets in an effort to reduce volatility. It's only natural that a commodity that is hit with a triple whammy of margin hikes would briefly succumb to a period of consolidation, much like a tased person would fall down at being tased and then (usually) gets back up on his own two feet. I realize that sometimes a good tasering can lead to death. However, the chart below shows a powerful long term bull market in silver that isn't going to be permanently disabled by margin hikes. The silver bull lives on (albeit a bit dazed) and I expect the price to moved ever higher.

As for those silver bears? They are going to be slammed and abused yet again. It will make the activities in a movie like, say, A Clockwork Orange, look like a little girl's teaparty. lol.

$SILVER - Daily Candlesticks: "


via StockCharts.com
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