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Is Silver Ready to Bounce?

Mike Maroney


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IMPORTANT NOTE: The information presented in these video clips is solely a highlight of the opinion of a third-party and is incomplete. Please visit the website and/or subscribe to the publication for the full and timely opinion of the individual and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

Video Transcript

Mike Maroney: Good afternoon! My name is Mike Maroney. Coming to you today from the Monex Precious Metals Studio. We're going to do our Silver Centric video.

If you watch silver and if you've been watching it over the last couple years, you'll find that you've had a couple of tremendous buying opportunities. Ironically, it's not unusual to see those buying opportunities prop up in July and December. Matter of fact, if you go back over the last few years, you'll find that that's when the lows take place. What we've seen is... in July of last year, we actually had what was called, "a flash crash." We saw silver trade down to a low of $15.15 before closing the day at $15.67 and then rallying back $2 over the next six to eight weeks. Then, in December, we hit a low of $15.67 once again, rallying back approximately $2 in a very short period of time. If you go back to the December before that, you'll find that that's when we also hit the lows. Now, ironically, we hit a low price just last week of $15.72, and in a short period of time, we saw the market bounce all the way back up to $16.11, today. So, approximately a $.40 move. We've seen a little bit of back and fill, but it looks like we're going to close back above $16, today. So, a lot of people are looking at silver and saying, "Is it a good buying opportunity right here?" Now, you have to consider what's going on. Mr. Trump is talking about major tariffs and today in his speech he talked about the fact that we have a $570 billion trade deficit. What that meant is he felt that he could throw tariffs on another $570 billion worth of Chinese product. The bottom line right now though is China has bought a lot of our paper and the United States needs to float a lot of paper each and every year just to pay the $500-$600 billion of additional money that we spend. Then, we have short-term debt that's rolling over. So, we need another $2 trillion. God forbid, we ever deal with a situation, where China just starts to use economic warfare and starts to sell off our paper. Who’s going to come in and rescue the U.S. Government? Obviously, it's not going to be China and Japan already has $2 trillion worth of our debt. I don't think they can afford to buy much more. So, when you talk about trade war, there's some unintended consequence and it could be the negative affect that takes place in the U.S. dollar. Based on the fact that silver just hit a low last week of $15.74 and that's basically been the low trading range over the last couple of years, now, may be a tremendous time to take a look at investing in silver.

We think there's some key resistance numbers that we'd like to share with you and we'd like to talk to you about how you can invest in silver. There's many different ways to do it, but the best thing to do is give us a call. So, we can share all these details with you and find out if investing in silver is right for you. Give us a call today! Thank you.