I add a small amount of silver to my stack each month by force of habit. I fully expect that I will have to hold on for another 5-20 years before it is up high enough for me to want to sell. What price would that be? It depends on HOW it moves. It is hard to explain judgment and intuition gained after having looked at well over a million stock charts. Sometimes you see a move that gets the crowd excited and your gut just says "Not for me!" If silver does break above $50, it would be the first time since January, 1980 (when it was only there briefly). That could be a real battleground. But if for some reason it is able to break $55 and stay there for at least several days, wow, then it could run MUCH HIGHER (IMHO). Keep in mind that the $50ish high in 1980 is equal to something like $130 now- adjusted for inflation.


Also, if JP Morgan (which reportedly has a huge long/short position in silver) is able to gracefully get out of their short position and then try to push the metal higher, it would be very interesting to see what would happen to the price.


I remember an old saying "There are lots of charts at the bottom of the ocean." That is just a way of saying that if you use technical analysis (charts) to trade precious metals, you need to be VERY PATIENT (or stage your way in) or you can get absolutely crushed!




Another point on silver- we've only really had one exciting time with it in many years and that was from late summer, 2010 until Spring, 2011 when it peaked at very close to $50 in late night trade on a Sunday night. In other words, expect years of doldrums punctuated by short bursts of excitement. That is not something most people want to be a part of. I do it as a diversification thing.