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KDakotaFund (33.97)

Peter Grandich Update - Time to Go Back In Gold $1,481 Silver $35.75

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May 06, 2011 – Comments (3) | RELATED TICKERS: SLV , SIL , SIVR

This was in my inbox this morning, but I have to thank MoneyWorksforMe because I saw his bringing this to my attention before checking my inbox.

Basically, the guy who last week just before silver had its major correction is saying it's time to get back in:

"After literally getting out within minutes of the top in silver and gold and then watching a decline I anticipated could take weeks or months happen in a matter of days, I believe it’s time to go back in and buy back those positions."

(This entry was posted on May 5, 2011 at 11:33 AM.)

Time will tell, but it looks like his timing was nearly perfect once again.

Full article

3 Comments – Post Your Own

#1) On May 06, 2011 at 12:14 PM, silverminer (99.62) wrote:

While my pm investment strategy does not require me to call precise tops and bottoms within short-term movements, I shared similar expectations, raised a fair amount of cash (close to 20%) on the way up between $44 and $49 silver, and gradually accelerated my redeployment of that cash over the past few days (with yesterday being my most active shopping spree yet). I retain a small cash position to guard against further declines if they should occur, but likewise I would be content to ride higher from hear with the redeployment thus-far concluded.

I initially targeted $40 as potential support, but noted that a sudden USDX spike like the one we got over recent days would change that assessment. Renewed Euro concerns came through with a timely repreieve for the USD. Also, that was before CME's follow-on margin hikes. In that same post, I added:

I personally am hoping for a deep correction in silver. I'd like to see us get back to $35 or so before moving higher again, because after a retrace like that I believe it would have the necessary legs to sustain momentum above $50 alongside a resurgent momentum in gold. 74 is a key pivot for USDX at the moment, though that's just a foreshadow of the ultimate pivot point at 72.

I have not followed much of Grandich's work, but his near-term calls do suggest a solid understanding of the market (especially if present levels hold). If it's a free service, I may sign up for the e-mails as well. :)

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#2) On May 06, 2011 at 2:54 PM, KDakotaFund (33.97) wrote:

silverminer

I have not followed much of Grandich's work, but his near-term calls do suggest a solid understanding of the market (especially if present levels hold). If it's a free service, I may sign up for the e-mails as well.

I hadn't heard of Grandich until a friend of mine with a decent investment track record told me about him. While not every newsletter (which is pretty much daily) has that much great insight, the more I paid attention the more I realized how good he is at what he does, and to boot is pretty humble.

He's one of those people who a few years ago found Jesus so there's the occasional religeous comment or two, but that doesn't bother me.

You and he are my main two sources of information for miners and precious metals.  You're the better one for identifying great companies, but that could be because he has a number of miners as clients and he'd likely be in conflict of interest if he wasn't careful.  Incidentally, Taseko Mines is one of his clients.

And yes, it is a free newsletter.

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#3) On May 07, 2011 at 10:06 AM, kdakota630 (99.92) wrote:

Peter Grandich today:

Cheer up gold and silver fans, the financial world and the media that follows it is back where they belong, hating gold and silver. They're knocking each other over again spewing all the wrong reasons to own gold and silver. Remember, they basically did this from $300 gold and $5 silver. Only in the last few weeks before the recent top did they suddenly "see the light" and bombarded the world with why it's "finally" time to buy precious metals.

Listen, it's not going straight back up. In fact, we may still face another 10% or below during the next few months. However, the "mother" of all gold bull markets IMHO can't end until it hits at least $2,000+

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