Wednesday, December 29, 2010

The Question Remains, 'Will They Consolidate?'

The Question Is, 'Will They Consolidate?'

Precious metals are very volatile and now the question, 'Will they consolidate now that they are at the top of their range?'  It is a fair question because of volatility, for better and worse.  If you sell, you could miss the next big big move, but if you do not sell, you could have made a better trade.  The short term investment strategy is trumped in the long run, as the trend for gold price continues.

If silver consolidates it will be in the range of $30.  If gold does, it will be at $1400 per Oz.  How is that for round numbers.  I picked them because they are right between the recent low and high.  I expect the move to happen in the next 24 hours.  I would then expect the next trading day to see gold get a big gain.  I am still waiting for back to back 'up ' moves of the precious metals price.  I think there will be a week in January where the metals gain 5%, and I think that should be a knockout punch on those who do not understand, gold is monie.

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