After sitting down with a colleague today discussing PM's, the economy and where this is all going, I came to a conclusion: other than him, I know of two other people who own physical (outside the silver world I live in). TWO!
Folks, we are at 5000 years highs in both metals. I look back to the tech bubble to try and compare this. My colleague said, "Shit man, on any given day anyone I talked to knew the closing price of nortel."
I ask you this: if I was to go downtown right now and ask 100 random people, how many would know the closing price of silver for friday?
Then we got talking about banks, hedge funds, etc. Are they buying? No.
So if banks, sheep, hedge funds, and JP Morgan are not buying...who the fuck is sending this into "bubble" territory?
Will we have some sort of gay, psychological, algo black box selling at $50 and $1500. Sure. Does this mean its over. Fat fucking chance. Bottom of the 4th tops.
I'll stick to my $75 silver by New Years Eve. And guess what? Thats still lights years away from its inflation adjusted 1980 price. We are getting fucked here people so bad we dont even know it. I mean, do you know how easy it was for a stock to go from $1-$200 in the tech boom? Did you know that Amazom was a Billion $ company before they even had there first quarter report?
Stick with the guys that know whats going on. Look at it this way; those that know whats up will be praying for a selloff to buy more physical, NOT waiting for it to go up to buy more. This is clearly NOT a bubble or anything anywhere near it. The only bubble remaining to be pooped is the $US as, that, in my humble opinion is still overvalued by 100% of its current value.
Keep stacking, and keep praying for a selloff to buy more. $50 will look like pocket change a year from now.