I Predict $50 Silver Today

I am very eager to see what happens at $50- I think it will touch and drop back to mid 40s on profit taking, but then came back again and break 50. Once it breaks 50, we are in what's called "blue clear sky" territory- it could run easily to 60-70 range most analysts predict.

Supply and demand is driving the price of silver up, Its the poor mans gold and used in industrial applications.

I personally suspect after the 50.00 mark is sustained then it will start its upward ride more swiftly again. I think 50.00 / Oz. is a subconscious hurdle. Why?
1. Fifty is a "nice round number."
2. Fifty is perceived as a halfway point to the "nicer," larger, "round number" of 100.
3. Fifty is generally seen as - but not understood in terms of incorporating inflation into the equation - the record "record high" mark to beat and I think some people are leery of committing b/c they may have reserves (no pun) about it hitting this mark since last time it did, the price fell way down. They also might be thinking massive amounts of people will dump what they have at the nice round number 50 and therefore flood the market and drop prices (which I do not think could happen b/c the demand is still there, our economy is still lousy - and getting worse, and I am not sure there is enough to flood the market anyway).

I also realize my speculations may be a bunch of nonsense and I may be proven wrong. This is no matter to me. I would rather have the truth than worry if I am right or wrong.

Just a guess, but I say actually closes above 50 on tuesday.

I predict you will be wrong...

Yes, I am with GRR, probably around next week before 50, but once it cracks 1 cent beyond, the flood gates are open to 75 an oz IMO. That 50 barrier in no doubt a mental figure, esp with that being the all time high in 1980, unaccounted for inflation of course....

And lets hope all the profit taking went down at that last drop to 44, as I for one would love to see that 50 barrier broken and forgotten....

Naaahhhh, been bouncing around all afternoon. The big 50 is a real level of resistance. I'm thinking next week depending on the dollar. I'm listing some anyway right after I call APMEX.

Agreed. A more basic problem is with the word "inflation" itself. To a normal person, something gets bigger when it is inflated. In economist-speak, an inflating currency is getting smaller, at least in terms of its purchasing power.

Remember those old G. Gordon Liddy gold commercials? He used to hold up a "dollar" that was about the size of 2 postage stamps stuck together to emphasize the point that the dollar was, in fact, shrinking. Dang! I wish that I had listened to him then!