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Silver’s 3 Year Downtrend Finally Breaks Out To The Upside

June 13, 2014 9:10 am est

The Mission Of The Silver News Surfer Has Always Been & Will Always Be – To Preserve Your Wealth, Protect Your Purchasing Power and Create Generational Wealth!

Don’t Scan The Report Today, Please Read…

You want to talk about what could be a massive flight to safety? If this Iraq issue escalates, we could see a massive short covering rally in gold and silver that would make your head spin…

Please remember friends… Don’t wait to pick what you think is a bottom, just try to get as close as you can and then buy based on value… not price. You see, people can spot value, but can never determine a price.

Here is a question to ask yourself… what do you think the price of silver should be today? Personally, I think we should be somewhere in the $75 -$100 range (even though the inflation adjusted price sits around $150)

Smart money makes money by seeing things at value, not price; then they exercise patience and silver around the $19 handle has value written all over it!

My point is this… If this chaos continues and gets worse over in Iraq and you have all these short positions in gold & silver… what do you think is the likely outcome?

Yup! A massive short squeeze/short covering rally – At least that is what we are hoping for right? The outline certainly makes perfect sense…

Now, bake in the technicals that are ripe for a move up in gold and silver and sprinkle on some strong fundamentals and top it with geo-political tensions and you have a recipe for a short covering rocket launch…

rocket launch

Remember, it only takes one spark to start a fire…

Before we get to the breaking news that matters, there are 3 things that I want you to see today…

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So, after hurting my arm patting myself on the back…

lets get to the breaking news that matters…

With no commentary needed…

Silver Being In A Down Trend For Over 3 Years, Finally Breaks Out To The Upside

If you don’t know how to read that chart, its OK, just read what Richard Russell, a 60 year market veteran had to say about silver below…

Silver hovers tantalizingly close to Dow Theory guru Richard Russell’s takeoff price of $19.25 – Dow theory guru Richard Russell has recently gone public in stating that $19.25 an ounce is the price silver must beat to start its next upward leg, and we are tantalizingly close to exceeding that figure as this article is published today.

Essentially he contends that a close above this level means that the correction phase for silver is over and there is clear blue sky ahead for price rises. Silver is a highly volatile commodity so this has a special significance for investors and speculators in precious metals.

Read More Here

Also Read: Will The Silver Price Rally Again On This Technical Signal?

Now read the original article from Richard Russell that started it all HERE

Must See: Silver: The Undercover Super Metal – An Info-graphic

Most economists say the Fed is wrong about growth – Here is the simple math: The Fed’s most recent projections, issued in March, show gross domestic product growing at a 2.8 percent to 3 percent clip. But after a -1 percent growth rate in the first quarter, the rest of the year would have to rebound sharply—something north of 4 percent—to reach that target.

Read More Here

IMF sounds global housing alarm – The world must act to contain the risk of another devastating housing crash, the International Monetary Fund warned on Wednesday, as it published new data showing house prices are well above their historical average in many countries.

The warning from the IMF shows how an acceleration in global house prices from already high levels has emerged as one of the major threats to economic stability, with countries making limited progress in keeping them under control.

Read More Here

A Silver News Surfer Exclusive!

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Also, A five-carat fancy yellow diamond increased in value by 180 percent from 2001 to 2011 – compared to Berkshire Hathaway stock, which increased by 52 percent for that 10-year period and Coca Cola, which grew 42.5 percent

SOURCE: Forbes

 

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More breaking news that matters…

Remember what I said earlier… It only takes one spark to start a fire…

Iraq burns again: What has sparked the fire? – Iraq has been absent from the global agenda for years – but now the very existence of the state is being called into question.

A shadowy group known as the Islamic State in Iraq and Sham (ISIS) has managed to seize control of key cities including Mosul, the country’s second-largest, Ramadi, Falluja and Tikrit.

Possibly most worryingly of all, the Iraqi government can’t even decide if this is a “state of emergency” or not. The country’s ambassador to France has called for international air support or drones to halt the advance of the militants.

Read More Here

Crude surges, WTI hits 3-month peak as Iraq spirals into chaos – Sectarian violence in Iraq sent oil surging on Thursday, propelling both Brent and West Texas Intermediate up about two percent intraday amid growing concerns about a threat to global supply.

After a delayed reaction to turmoil raging in the country, oil prices soared as open warfare between rebel forces—threatening a reconquest of the country barely a few years after U.S. forces departed—and the government spilled on to the world stage. Iraq is a member of OPEC, second only to Saudi Arabia as one of the world’s largest producers of crude.

Read More Here