Mark Leibovit: Where Markets Are Going Monday, 30 September 2013 06:41
Michael Campbell interviews Mark Leibovit of VRTRADER.COM who has been consistently ranked in the group of top market timers by TIMER DIGEST, including #1 US Market Timer of the Year, #1 Gold Timer of the year, #1 Intermediate Market Timer for the 10 year period ending in 2007.
MC: Let me ask you about Silver.
ML: We've got that the big big support down there at $18. I have to tell you that I am very disappointed in the action in Silver, volume just didn't come in to the upside like I was hoping. The big breakout number is well above the market at $25.07 and the big number under the market will be first at $21.20 then that $18 low that we saw.
If I was looking at the Silver market just by itself and I wasn't influenced by Gold, inflation or anything else I would say this puppy is still in a downtrend. I think we are going to get a technical rally then we are going to see Silver under $18 in the months or years ahead. So I'm not super excited about it just yet, I think we need more confirmation. So either there is manipulation or its just not what everybody thinks it is in terms of a speculative play quite yet. If you push me to the wall I wouldn't be surprised to see Silver at $15 in the next year. I am just not excited about playing the Silver market here at all.