Ben Davies called for a 15% correction in silver at the beginning of the week. Now he recommends catching the knife.
Via King World News:
“As a firm we have covered all of our hedges on silver and we have started to accumulate physical silver. Let me add that this is the swiftest 30+% decline in this bull market. If you are a cash buyer of physical silver then you should now be accumulating silver. There is always a danger in catching a falling knife, but you have to remember that silver has intrinsic value.
"This is the start of a great opportunity to accumulate silver. All of the key fundamental issues in the world have not gone away nor those specific to silver such as the fact that it is under-owned and short of supply in the medium-term. All of those conditions are still in place for silver. KWN readers should remember that on corrections beyond 20% in a secular bull market you are supposed to be buying.”
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See Also:
- Ben Davies On Silver: "The Big Parabola Is Yet To Come"
- The Ultimate Silver Bubble Chart
- The Red-Hot Chinese Stocks Are Getting Killed Today
Full story at http://feedproxy.google.com/~r/businessinsider/~3/ccrH_Fli-GQ/ben-davis-time-to-catch-the-silver-knife-2011-5
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