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Nearly $9 BILLION worth of SLV traded yesterday.

cohodkcohodk Posts: 19,102 ✭✭✭✭✭
in Precious Metals
SLV traded 189.4 million shares yest at an average price of about $46.

During 2009 and 2010, a heavy volume day would have been about 30 million shares and a price of about $18, or about $500 million.

SLV has about 360 million shares outstanding.
Excuses are tools of the ignorant

Knowledge is the enemy of fear

Comments

  • CaptHenwayCaptHenway Posts: 32,118 ✭✭✭✭✭
    Half the shares traded?
    Which way?
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    ok..... so what? Profit taking?
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • CoinCoinsCoinCoins Posts: 698 ✭✭✭
    wowwowwow
  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭


    << <i>Half the shares traded?
    Which way? >>



    Well, of course there were both buyers and sellers. It did open at 47, so closed lower on the day. Market technicians call this a distribution day. In Feb of this year, the Dow Jones was up 13 of 14 days, it then gave it all back over the next 3. Volatility like that, and probably greater, should be expected.



    ok..... so what? Profit taking?

    What is the difference between profit-taking or just plain selling?


    Im not trying to say silver has made a top, just pointing out that yesterday alone, the dollar volume of SLV was equal to several months worth of trading in 2010. People should study price and volume charts though.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>Half the shares traded?
    Which way? >>



    Well, of course there were both buyers and sellers. It did open at 47, so closed lower on the day. Market technicians call this a distribution day. In Feb of this year, the Dow Jones was up 13 or 14 days, it then gave it all back over the next 3. Volatility like that, and probably greater, should be expected.



    ok..... so what? Profit taking?

    What is the difference between profit-taking or just plain selling?


    Im not trying to say silver has made a top, just pointing out that yesterday alone, the dollar volume of SLV was equal to several months worth of trading in 2010. People should study price and volume charts though. >>



    Profit taking would be a reason for selling.
    theknowitalltroll;
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Flash trading programs at the JPMorgue probably traded a dozen or two peaks/valleys yesterday. The same share probably traded many times as the
    computers passed it back and forth all day long.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    speculators or maginfying what would normally be small movements. get used to it.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • 57loaded57loaded Posts: 4,967 ✭✭✭
    a mention was made yesterday that SLV was so hot it was melting....in a figurative sense.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>a mention was made yesterday that SLV was so hot it was melting....in a figurative sense. >>



    Looks like it still is in a way.
    theknowitalltroll;
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