Too many people are making comments trying to call the tops and bottoms of this market. I think this is a disservice to investors. When you have $3+ daily moves in silver it is an exercise in futility to try and trade in or out of these moves. Rather than guess what will happen from Sunday night to Friday, how about people just review the 10-yr chart for silver. Note after each severe dip in the market price, what happened? People that buy the dips have been rewarded. Those who sold may not have ever re-established their positions. For the lucky few that do, bragging on newsletters is not helpful.

I have seen far too many examples of schmucks that go way out on a limb to call the top of a bubble and they look smart for a short time, and then get proven hugely wrong. They disappear and leave all the damage in their wake from the fools that listened to their crap. The guys that are doing that very same scam today are NOT trying to do a favour for investors. They are just trying to make a name for themselves and sell more newsletters. It is even more disgusting that some of these same crooks are busy slamming the others in this market who have a different opinion.

I have made a lot of mistakes in this market, and that is going to happen no matter what. I do not take issue with people that fail to see each and every trend reversal, or have some calls that blow up on them. What I do find intolerable is how some people have chosen to make this so personal and deliberately brought the integrity into question for others who have a different outlook. This kind of thing will end badly for them and I hope investors are not quick to let them off the hook as the rhetoric spirals out of control.

I think the bottom is in here, and I was buying all the way down. I expect silver will take out the $50 level before the end of the year, and there will be lots of thrills and spills along the way, giving plenty of opportunity for the top callers and bulls to lock horns again. Just remember that the buy-and-hold crowd has been right for 10 years and I do not see anything in this market that has changed to suggest that trend has come to an end.

cheers!

mike