THIS is a smackdown, not what happened Monday.

piecesofme · March 9, 2011 11:30PM

Let's see how it plays out the rest of the day.

pitboss · March 9, 2011 11:33PM

It is not just silver,all PM's are down.

ttown · March 9, 2011 11:40PM

Stock market too.......guess it's time to support the dollar again it's up big.

CaptHenway · March 9, 2011 11:46PM

SPLUNGE!

Moxie · March 9, 2011 11:57PM

I look at today's PMs selloff as a good time to buy. Particularly I've been waiting for silver to drop a dollar or two. So today I bought more.

DoubleEagle59 · March 9, 2011 11:58PM

What's the worry?

Can't go up everyday.

Six months ago if you said 'silver would drop $1.30 one morning and still be at $34.80', I would have thought you were crazy!!

Konahead · March 10, 2011 12:58AM

When it drops to $22 dollars we can talk (and buy). This is of no concern!

gsa1fan · March 10, 2011 1:05AM

Day of RAGE tomorrow

57loaded · March 10, 2011 1:46AM

<< What's the worry?

Can't go up everyday.

Six months ago if you said 'silver would drop $1.30 one morning and still be at $34.80', I would have thought you were crazy!!

>>

DNADave · March 10, 2011 4:54AM

<< Day of RAGE tomorrow

>>

you mean you think a bigger drop is on the way tomorrow?

roadrunner · March 10, 2011 5:00AM

The entire basic material sector has been in a downtrend for weeks. Copper, Uranium, and others were leading the way down. Gold and now finally silver have joined in.
It was gonna happen eventually. It's not like silver was going to run to $40 while copper, uranium, plat, pall, and others were getting hit. With the dollar bouncing off key
support at 76 Monday, it certainly seemed like all the cards were lined up to have gold and silver join the smackdown. Maybe Bill Gross sold all his bonds a bit early?

roadrunner

gsa1fan · March 10, 2011 6:50AM

<< 

<< Day of RAGE tomorrow

>>

you mean you think a bigger drop is on the way tomorrow? >>

I'm predicting a nice up swing

derryb · March 10, 2011 6:55AM

<< Maybe Bill Gross sold all his bonds a bit early? >>

Maybe Bill Gross selling his bonds is being reflected by the markets as as I predicted here last night in the 7:45 PM post

piecesofme · March 10, 2011 6:56AM

I'm predicting a nice up swing

Not me, I say alot more blood in the streets. It did bounce of the lod not too badly, but it's (Ag) got to find some support level after such a run, and $34.80-ish aint it.

derryb · March 10, 2011 7:00AM

<< I'm predicting a nice up swing

Not me, I say alot more blood in the streets. It did bounce of the lod not too badly, but it's (Ag) got to find some support level after such a run, and $34.80-ish aint it. >>

Too early to tell which direction. Either way is a guess for the moment. Tonight's silver action and asian equities action will be good indicators.

Justacommeman · March 10, 2011 7:09AM

<< 

<< Maybe Bill Gross sold all his bonds a bit early? >>

Maybe Bill Gross selling his bonds is being reflected by the markets as as I predicted here last night in the 7:45 PM post >>

Todays Treasury auction was rated as a A+. It may have been the best single auction EVAH. Bill Gross looked like a wounded animal while discussing it today. The flock to Treasuries today was mind numbing. Risk off. Go figure...............MJ

roadrunner · March 10, 2011 7:12AM

I don't know about silver or gold bullion, but the shape of the indicators in the miners (stochastics, macd, etc.) and the relative price above the 200 dma, says that they should have at least another 5-15% left in them. The miners with better fundamentals will hold much better. The dogs will continue to get hit. 4 straight hard down days in the CDNX usually isn't the
end of it. Though the first leg down could be complete. A bounce from this first leg is already in progress. But there could be 1 or 2 more legs down with rebounds as well. Be fleet of foot if playing the bounces. The miners all left gaps on today's open. They could bounce to fill those gaps. In looking at the charts of GDX and GDXJ I can't say anything positive about
them other than "look out below." At least gold bounced off the 20 dma but on rising volume with all the indicators starting to round over. Silver could hang with all the strength it has
demonstrated as of late. But it's going to be hard for silver bullion to ignore what's happening to the silver miners who are down 5-20% already. The Hecla chart doesn't look any different than the gold seniors.

JPMorgue 1......Pimco 0.

roadrunner

derryb · March 10, 2011 7:17AM

<< 

<< 

<< Maybe Bill Gross sold all his bonds a bit early? >>

Maybe Bill Gross selling his bonds is being reflected by the markets as as I predicted here last night in the 7:45 PM post >>

Todays Treasury auction was rated as a A+. It may have been the best single auction EVAH. Bill Gross looked like a wounded animal while discussing it today. The flock to Treasuries today was mind numbing. Risk off. Go figure...............MJ >>

Lemmings

57loaded · March 10, 2011 7:35AM

this is "Day of Rage"

cohodk · March 10, 2011 12:19PM

<< 

<< 

<< Maybe Bill Gross sold all his bonds a bit early? >>

Maybe Bill Gross selling his bonds is being reflected by the markets as as I predicted here last night in the 7:45 PM post >>

Todays Treasury auction was rated as a A+. It may have been the best single auction EVAH. Bill Gross looked like a wounded animal while discussing it today. The flock to Treasuries today was mind numbing. Risk off. Go figure...............MJ >>

Yup, news broke that he sold out and it went "yawn". But hey, look at the bright side. Gross is now a potential buyer.

I like Bill Gross, but honestly he has been a beneficiary of being in the right place at the right time. Now is time for him to prove his mettle.

OPA · March 11, 2011 4:44AM

<< 

<< 

<< Day of RAGE tomorrow

>>

you mean you think a bigger drop is on the way tomorrow? >>

I'm predicting a nice up swing

>>

Good call ... lets see what happens next week. I love to read and see whose crystal ball is still working.

THIS is a smackdown, not what happened Monday.

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