The Chart du Jour

Feigning Disaster: Silver

March 29, 2001

By, Barclay T. Leib


Chart constructed using Advanced GET End-of-Day

Sometimes markets have to come just to the edge of feigning disaster, or extend a period of dormancy so long as to wring every last bit of bullishness out of a market. Such is the case of silver market pictured above. Anyone even still looking at a silver chart after all these months of sideways to downward chop must either be overtly stubborn or stupid.

And yet, on an Elliott Wave basis, if one looks back at the late 1997 rally, we see a clear impulsive move followed by what could be a huge A-B-C period of retracement. Was this a I-II Elliott Wave pattern, soon to evolve into a much deferred wave III up? Although one more short term spike lower in the market is possible, longer term, we think it is.

Fundamentally, silver is a bi-product of copper mining, and as economic weakness and fiber-optic cables both eat away at the demand for copper -- thereby closing copper mines and smelters -- it will also indirectly reduce the supply of silver. Meanwhile, for certain industrial electrical conductivity purposes, silver can serve as a replacement metal for the now far more expensive other white metals, platinum and palladium.

A long here, with a stop set near 3.93 (well under the 1997 4.155 low in order to allow for a false spike sometimes orchestrated by locals to catch stops under prior lows) is worthy of consideration.


Subscribers are invited to click here for immediate access to our latest in-depth article: "Measuring Financial Time: The Magic of Pi." The article is 10 pages in length, and in it, we touch upon two centuries of financial history. We also leave readers with our cyclical vision for the next decade, as well as a shorter term perspective of the NASDAQ 100 index for the balance of the year.

Non-subscribers are invited to sign up for a quarterly subscription below.

It also may be of interest to some as well that because so much time (and thus timeliness) has now transpired, we recently released three of our 2000 subscriber-only articles. These now appear under the public Earlier Articles section of the website. Perusing through them may give one a sense of the added premium level of analysis we provide to subscribers.

For immediate web-based access to our latest subscriber-only March 20th XAU chart analysis, please support Sand Spring Advisors and purchase a quarterly subscription below. Our latest work will be accessible on the final page of the order process. A user-id and password for web access to all past and future articles will follow by e-mail.


How Your Articles Are Delivered
Upon the processing of your credit card or the receipt of a personal check, Sand Spring will e-mail you the articles requested as a Word attachment, and also provide you with a WWW address and password to view the article on the web without using Word should you so desire. Confirmation of your order will be immediate, and the actual article will follow by e-mail typically within a few hours and in all cases before the opening of NYSE trading on the following day.

Ordering by Credit Card:
Our shopping cart is designed for both physical and subscription products, so do not be confused too much when it asks you for a shipping address. A correct address is important only for credit card authorization purposes. Your e-mail information is the most important piece of information to us for proper delivery of your article(s).

Disclosure Statement

Sand Spring Advisors provides information and analysis from sources and using methods it believes reliable, but cannot accept responsibility for any trading losses that may be incurred as a result of our analysis. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities, and should always trade at a position size level well within their financial condition. Principals of Sand Spring Advisors may carry positions in securities or futures discussed, but as a matter of policy will always so disclose this if it is the case, and will specifically not trade in any described security or futures for a period 5 business days prior to or subsequent to a commentary being released on a given security or futures.


If you order by credit card, your credit card will be billed as "Sand Spring Advisors LLC"

Should you have any ordering problems, please contact us at
973-829-1962 or by email at the address below:

information@Sandspring.com


Take me back to the Sand Spring Home Page


Comments or Problems


Thank you for visiting Sand Spring Advisors LLC, Inc. We hope to hear from you again soon. For more information on Sand Spring Advisors actual programs, services, or to request a copy of a Disclosure Document, please phone us at 973 829 1962, FAX your request to 973 829 1962, or e-mail us at
information@Sandspring.com

Corporate Office:
10 Jenks Road,
Morristown, NJ 07960
Phone: 973 829 1962
Facsimile: 973 829 1962

Best Experienced with
Microsoft Internet Explorer
Click here to start.

The material located on this website is also the copyrighted work of Sand Spring Advisors LLC. No party may copy, distribute or prepare derivative works based on this material in any manner without the expressed permission of Sand Spring Advisors LLC

This page and all contents are Copyright 2000 by Sand Spring Advisors, LLC, Morristown, NJ