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<p>[QUOTE="jolumoga, post: 1722508, member: 41780"]Yes, this correction is more violent than even I expected, but like mikem pointed out, picking tops and bottoms is a fool's game. The NFP number came out better than expected, which has propped up the dollar and the stock market. So arguably the economy is temporarily picking up. Assuming the dollar continues to gain ground, silver will likely suffer. I thought there might be a bounce to 25-26 this summer, but now I'm not so sure. I do expect we will hit the teens by the end of the year. The short-term movements are really hard to predict. In the long run, I won't rule out another major advance by silver to new highs, but the economy must really tank for that to occur. I think the arguments here can be broken down simply to precious metals investors (bears on the stock market) vs. stock market investors (bulls on the stock market).</p><p><br /></p><p>Ultimately, the success or failure of the Fed will determine where silver goes.[/QUOTE]</p><p><br /></p>
[QUOTE="jolumoga, post: 1722508, member: 41780"]Yes, this correction is more violent than even I expected, but like mikem pointed out, picking tops and bottoms is a fool's game. The NFP number came out better than expected, which has propped up the dollar and the stock market. So arguably the economy is temporarily picking up. Assuming the dollar continues to gain ground, silver will likely suffer. I thought there might be a bounce to 25-26 this summer, but now I'm not so sure. I do expect we will hit the teens by the end of the year. The short-term movements are really hard to predict. In the long run, I won't rule out another major advance by silver to new highs, but the economy must really tank for that to occur. I think the arguments here can be broken down simply to precious metals investors (bears on the stock market) vs. stock market investors (bulls on the stock market). Ultimately, the success or failure of the Fed will determine where silver goes.[/QUOTE]
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