Well, it looks like I'm going to get the chance of SLV under $12 after all. I thought it had slipped away from me. Here's the Gold:Silver Ratio, which is an altogether smarter way of tracking silver than its price chart.
(click to enlarge)The USD has just broken 80 (80.15 to be exact), and the orderly piling into T-bills should have its flipside soon. If the dollar reverses from here it'll form another nasty twin peak. That reversal should see PM revalued and Otto slightly richer. All we have to do then is suffer the goldbugs shouting "I told you so" about their personal zero-sum games (yeah I know, I'm getting as repetitive as they are. I'll now STFU).
(click to enlarrge)Update: Oh whoosh city, the USD is now at 80.60. On that chart above that's the peaky peak peak of the last peak. I'm now looking for $11.5 for SLV rather than $12. Hey...today might be a lot of fun...it's about time I bought something.
Let's be clear about the USD; this is a ST move. The bailout package or whatever it's called is extremely bearish for the currency over the medium term. I'm still expecting USD to revisit 72 or so. OK, enough non-LatAm stuff...let's get back to business (cos it beats watching those miners sink again).