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<p>[QUOTE=&quot;InfleXion, post: 1517645, member: 29012&quot;]The recent high was $37 and change when Ron Paul held up the silver coin to Bernanke and incited a smackdown. I don&#039;t know where $35 comes into play, but it has been higher in recent months. $30 is still cheap to me, but I&#039;m not buying as much as I did at $27 either. With nearly every central bank in the world devaluing their currency (Russia is the notable exception here with the best positive real interest rates of anyone) I will not be selling anytime soon. My first sell target has always been $70/oz for silver since the next fibonacci resistance level above $50 is $75, but if $75 doesn&#039;t hold it could very well break to the next level well over $100/oz. It will be a hard fought battle to break $50 because after that there really is no resistance as everybody looking to get out will do so prior to it breaking $50. Even if it does get to triple digits I will be holding the large majority of my stack. The higher it goes the more people will realize what is going on and why they need metals. I anticipate a virtuous cycle for metals once that occurs. We may or may not have seen the bottom, the fiscal cliff coming up as well as potential escalation with Iran could provide a lot of downward pressure, but I still think it&#039;s a great time to buy.[/QUOTE]</p><p><br /></p>

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