Bull Market in Silver Set to Resume, Says Leading Financial Newsletter Profit Confidential

Silver had a very volatile year in 2011. According Profit Confidential contributor Sasha Cekerevac's recent article, What You Need to Know about Silver Right Now, the most likely scenario is that the silver market.

New York, NY (prHWY.com) March 2, 2012 - Silver had a very volatile year in 2011. According Profit Confidential contributor Sasha Cekerevac's recent article, What You Need to Know about Silver Right Now, the most likely scenario is that the silver market is setting the stage for a resumption in the move up, with mining stocks to follow.

Cekerevac makes the case that the move in silver prices from 2010 to 2011 was too far too fast and was due for a pullback.

"This does not mean that the bull market is over in silver and mining stocks; far from it," says Cekerevac.

"When you consider silver was trading $16.00-$18.00 an ounce in early 2010 and then exploded to just under $50.00 an ounce in spring of 2011, this move was due for a healthy correction," explains Cekerevac.

One interesting note that Cekerevac highlights in his report on the price of silver is the move from the high last August 2011 and the lows in December 2011.

"If we were to calculate the 50% retracement during that period, we would reach approximately $35.00. This is almost exactly the level we reached on this recent move up and is the first major test for silver on the way back up," says Cekerevac.

This is a normal test for a commodity according to Cekerevac. "I would expect silver to be range-bound for a little while before it tries to break above this area."

Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it "begged" its readers to get out of the housing market...before it plunged.

Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.

To see the full article and to learn more about Profit Confidential, visit www.profitconfidential.com.

Profit Confidential is Lombardi Publishing Corporation's free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit www.profitconfidential.com.

Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi's current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.

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Tag Words: gold, etal prices, mining stocks, silver, michael lombardi, profit confidential, bull market

Categories: Finance

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