Monday, April 25, 2011

Trinity's big Pullback

Platinum hit the top of its range and pulled back.  No surprise there.  It took silver and gold with it.  No surprise there.  The Trinity's pullback was quick, and moved back into the middle of the daily range, which means it was painless for all PM investors, as well as for Black Boxes, Major, Chinese, and otherwise.  Once again, no surprise there.

The Trinity began to break out last week with platinum moving to resistance last night.  This was a move that was on deck for weeks, as platinum had not tested resistance for what seemed like forever, considering that silver had the most epic breakout and gold broke a psychological level of $1500.  This is a definite signal, and I think that the bell was just rung to start the Next Move.  Of course, just as any other move, it starts with a final pullback.  I think the Next Move is at hand.

I think in the next few days we will see platinum begin a move to $2200 and it will bring gold to $1650.  Silver is on something else, and I am not going to put a number next to it, other than that $250 per ounce is not out of the question before the year is over.  For the near term, I will put it this way; if Jim Rogers is going to liquidate his silver position, which I assume to be heavily weighted with paper contracts, at $150 per ounce, then soon Jim Rogers will sell his silver.  Soon....

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