Silver getting another bushwhacking.....

Manorcourtman · May 11, 2011 7:59PM

$32.68 and dropping Thursday a.m.. Wish I could find my crystal ball!! Other commodities are also getting a haircut. Will we see silver in the twenties again??....sure looks like it. But how low will it go??

RobertS · May 11, 2011 8:40PM

<< But how low will it go?? >>

That is the question, I was not going to bother with silver but if it keep dipping I might have to buy some more to off set my loses from the monster box.

ambro51 · May 11, 2011 9:49PM

It will bounce off the 200 day moving average, which is mid 20s.

MrBear · May 11, 2011 9:54PM

Greeaaat...I bought silver as a sort of short-term cash storage for an eventual house down payment. Got very excited over the last few months as the price went vertical. Not so excited now as it goes...vertical :-p

ttown · May 11, 2011 10:02PM

Hey everything is taking a bath right now with the FED moving the dollar so high. A recovery? Hardly but they know it's going to be tough keeping it above 72 when the budget fight and QE2 ends. They know what they're trying to do, buy on the dips and sit tight. This is what dollar cost averaging is all about and why you shouldn't dump all your money into ANYTHING all at once.

OldEastside · May 11, 2011 10:53PM

Who cares, it can go to zero, I'll cast it in to bullets when I run out of
lead, Mapp gas burns hot, it's no problem

Steve

tydye · May 11, 2011 11:04PM

Figures - I decided to dip my toes in again yesterday morning and purchase a bag of walkers. One a plus note I did find a 46 DDR in the bag.

jmski52 · May 11, 2011 11:06PM

China Raises Margin Requirements on Silver for 3rd time in a Month

Each change in margin requirements brings silver closer to being recognized as a "hard money" financial instrument and further away from strictly commodity status. Each cycle of liquidation makes silver more valuable. Each cycle allows them to create more paper and electronic dollars and to get away with it.

DoubleEagle59 · May 12, 2011 12:53AM

<< $32.68 and dropping Thursday a.m.. Wish I could find my crystal ball!! Other commodities are also getting a haircut. Will we see silver in the twenties again??....sure looks like it. But how low will it go?? >>

What's the worry?

Who cares if it hits in the '20's.

If it does, think of it as a 'gift from the Gods'.

Buy as much as you can.

Three years from I'm predicting $85 an ounce (probably higher) will be reached one if not two times.

Justacommeman · May 12, 2011 1:02AM

The US dollar index is actually marginally down today. Interesting. MJ

roadrunner · May 12, 2011 1:03AM

Each margin hike takes PM's and commodities from weaker hands to stronger hands. It makes each successive hike less effective than the previous one.
With enough hikes, we could eventually end up at 100% cash market.

roadrunner

dragon · May 12, 2011 1:10AM

<<< Who cares, it can go to zero >>>

If it does go to zero, at least those 10 oz. JM bars make good paperweights and the kilo bars make good door stops

57loaded · May 12, 2011 1:11AM

<< Each margin hike takes PM's and commodities from weaker hands to stronger hands. It makes each successive hike less effective than the previous one.
With enough hikes, we could eventually end up at 100% cash market.

roadrunner >>

MrBear · May 12, 2011 1:25AM

It's interesting that ZSL is more-or-less tracking the the short price of silver today, not double like it's supposed to!

derryb · May 12, 2011 1:32AM

<< It's interesting that ZSL is more-or-less tracking the the short price of silver today, not double like it's supposed to! >>

ZSL is currently priced at 65% of silver spot. A 50 cent drop in spot will not equal a $1 gain in ZSL. It works on percentage. A 10% drop in spot equates to approximately a 20% gain for ZSL. Same with AGQ.

derryb · May 12, 2011 1:34AM

Let the trend be your friend, no matter which direction it takes.

Bear · May 12, 2011 1:35AM

When it comes to PMs, we ain't got no friends. Only manipulations by the big boys.

MrBear · May 12, 2011 1:38AM

<< 

<< It's interesting that ZSL is more-or-less tracking the the short price of silver today, not double like it's supposed to! >>

ZSL is currently priced at 65% of silver spot. A 50 cent drop in spot will not equal a $1 gain in ZSL. It works on percentage. A 10% drop in spot equates to approximately a 20% gain for ZSL. Same with AGQ. >>

I wasn't even looking at the actual price. I have them plugged into my iPhone, and was looking at the percentages. Right now (well, 20 min ago) SLV was down 3.4%, ZSL was up 1.55% and AGQ was down 9.63%. A little earlier, SLV was down around 5% and ZSL was up around 5%.

That's what I was referring to. Not the actual share price.

derryb · May 12, 2011 1:42AM

<< When it comes to PMs, we ain't got no friends. Only manipulations by the big boys. >>

When they are making money anyone that studies and follows them can make money. Ride their coattails.

derryb · May 12, 2011 2:10AM

<< 

<< 

<< It's interesting that ZSL is more-or-less tracking the the short price of silver today, not double like it's supposed to! >>

ZSL is currently priced at 65% of silver spot. A 50 cent drop in spot will not equal a $1 gain in ZSL. It works on percentage. A 10% drop in spot equates to approximately a 20% gain for ZSL. Same with AGQ. >>

I wasn't even looking at the actual price. I have them plugged into my iPhone, and was looking at the percentages. Right now (well, 20 min ago) SLV was down 3.4%, ZSL was up 1.55% and AGQ was down 9.63%. A little earlier, SLV was down around 5% and ZSL was up around 5%.

That's what I was referring to. Not the actual share price. >>

Keep in mind that price for ZSL and AGQ are set by the market. If the number of sellers is greater than the number of buyers price usually goes down. For example at the moment, while AGQ and ZSL are "opposites," AGQ is down 7% and ZSL is down 2%. Tells me the market is really confused on which way silver is headed and that both camps are looking to move to cash.

MrBear · May 12, 2011 3:24AM

<< 

Keep in mind that price for ZSL and AGQ are set by the market. If the number of sellers is greater than the number of buyers price usually goes down. For example at the moment, while AGQ and ZSL are "opposites," AGQ is down 7% and ZSL is down 2%. Tells me the market is really confused on which way silver is headed and that both camps are looking to move to cash. >>

So...these numbers could be caused by lots of people selling AGQ, but not many buying ZSL, right?

jmski52 · May 12, 2011 3:27AM

the market is really confused on which way silver is headed and that both camps are looking to move to cash.

Is that the same as moving towards the dollar?

PerryHall · May 12, 2011 3:44AM

<< Who cares, it can go to zero, I'll cast it in to bullets when I run out of
lead, Mapp gas burns hot, it's no problem

Steve >>

Your silver bullets may work against vampires and werewolves but they are worthless against zombies unless you can get a good head shot.

OPA · May 12, 2011 4:58AM

<< 

<< When it comes to PMs, we ain't got no friends. Only manipulations by the big boys. >>

When they are making money anyone that studies and follows them can make money. Ride their coattails. >>

How true that is ....

Coins101 · May 12, 2011 5:10AM

<< 

<< Who cares, it can go to zero, I'll cast it in to bullets when I run out of
lead, Mapp gas burns hot, it's no problem

Steve >>

Your silver bullets may work against vampires and werewolves but they are worthless against zombies unless you can get a good head shot.

>>

Aim for the eye!!!

OldEastside · May 12, 2011 11:41PM

Head shot, head shots, I thought G. Gorden was selling Gold

Steve

Silver getting another bushwhacking.....

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