Anyway back to the subject we all really care about here.
It's the last paragraph that is worthy of note when he looks at the Net Asset Value (NAV) premium as a means to measure froth or exuberance. The author doesn't mention Sprott's funds though which by his own measure would be considered very frothy or as Harvey would say they are simply real price discovery.
There is another good article here;
and he makes the point that typically lines of resistance are based on the notion that long term bag holders will try to unload from where they bought in at the high. In this case he is talking about the $48 previous high back in the Hunt Bros. days. He asks "what is the likelihood of someone unloading after decades of waiting?
On the whole it looks like we are still in a short covering rally. At some point that exhausts itself and we come down and it's usually fast in Silver. Being a degenerate gambler I have decided I am going to ride this puppy higher before trading my Silver for Gold. In a perfect world that means about $120 in Silver adjusted for inflation.
Oh yeah, If you haven't done so already you really should bookmark this terrific spread sheet created by Robert Leroy Parker.
Edit: Just to add the pic below. As you can tell Warren has some travel plans.