'People' say one should never become emotional about their investments. I have to admit, I fail miserably in this respect. Every once in a while I try to be 'objective', so, for the umpteenth time ( an expression old geezers still use ) so I go back to the 'basics'... that I seem to forget about (repression).

Today I looked at silver. This is all very boring... like being reminded what your telephone number is. We all know silver is an industrial and monetary metal. Currency debasement should affect its vault value upwards. So far, so good. Yes, yes, we all know demand exceeds supply for years and years. I fact, demand exceeded production (755 million ounces) by over 8,600 tons in 2011. That's over 275 million ounces/yr. ... for over 20 years. The difference has been met by above ground supplies such as scrap/jewelry, but that is now diminishing. Demand is increasing for technological, medical and industrial usage. Then there is 'investment demand' ... many times never even discussed by the 'mainstream'. See Sprott about that one because this is where Eric Sprott has the 'mainstream' by the jugular. The 'establishment' must hate him (and King World News). That is where the rubber meets the road.

Back to the basics: technicals ... the charts. Silver has gone from $50 in 1980 to under $2 in 93 back to $50 in 2011 and now at $31 ish. $26 is the base support level with silver, having bounced off that support area several times ... in a range between $26 and $35. Will support at $30 hold?

I’m trying desperately to remain objective here, like looking at a bikini babe and only thinking what big blue eyes she has. Okay, it comes down to the cartel and their increasingly desperate power bid to deny gravity … like the bikini top straining under the bulging bosom over time. Will they, can they succeed in running the charts down to the $26 level, even if only for a day? … or will they be constrained at $30 by the sheer physical demand/spot price. When will it be tits up for them? That for me is the never ending question: time. When that day arrives, we will know it. All very boring, similar to being an anesthetist, you are either fighting sleep or a panic.

Somehow end Feb. is provocative.