Home› Precious Metals

Whats up with Silver this evening.

JulioJulio Posts: 2,501 ✭
in Precious Metals
Down $1.93.
image

Comments

  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    Wow, you're right. Flash crash. All the way down to $20.03. A low volume hit on the 1 min chart with 3X volume on the rebound to $21.26.
    GSR has spiked to 64-67. This is nuts. If anyone had 24 hr stops set on the spot price, they just got cleaned out. Don't see how else the price
    could have dropped 10% in 5 minutes with more than half of that coming in one minute.

    They took gold down only $8 or so to $1351....after an initial bounce higher to $1365. The dollar is down sharply vs. Yen, Cando, and most everything else.
    That drop in silver makes no sense unless they needed to hit the metals before they spiked the other way on the Yen/USD turning hard.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • AnkurJAnkurJ Posts: 11,370 ✭✭✭✭
    Something doesn't sound right.
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • JulioJulio Posts: 2,501 ✭
    I had to stop and think about what had happened. Still thinking. Take are. jws
    image
  • FountainheadFountainhead Posts: 956
    Very active currency trading so early in the evening.
    Salute the automobile: The greatest anti-pollution device in human history!
    (Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭


    << <i>Something doesn't sound right. >>



    It may not sound right, but it's happening. Gold pushed down to $1339. Currencies swinging with the Yen doing the most whipsawing.
    Seems the shorts are intent on continuing to smash PMs. If GSR stays in this 64 breakout range, it's history for the metals for potentially quite a while longer.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    Silver stopped at $20.04 for 3 reasons:

    1. round number
    2. intersection of the 2 lines formed by the Jan/Apr 2013 and Nov 2012/Apr 2013 lows.
    3. perfect retest of the 2 year downtrend line formed by the 2011/2012 highs.

    Item 3 is the biggy. If there was an ideal place on the chart to start a rebound from, we just saw it.

    A large change in the dollar-euro-yen mix tonight got this all going. We'll see if the USD/Yen pair can fill that large opening 2 hr gap tonight. If night, good chance that
    was the high for a while. GSR in the 64-67 range tonight needs to get back to <63 or this breakout could mean continued trouble for PMs.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • BaleyBaley Posts: 22,663 ✭✭✭✭✭
    Yeah, but 1 oz. silver rounds with a busty babe on them are still $30 each

    Liberty: Parent of Science & Industry

  • agentjim007agentjim007 Posts: 6,256 ✭
    I know exactly what happened. An hour earlier I bought a hundred bucks worth.
  • OperationButterOperationButter Posts: 1,672 ✭✭✭


    << <i>Yeah, but 1 oz. silver rounds with a busty babe on them are still $30 each >>



    why is that? difference in paper and physical pricing?
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • BaleyBaley Posts: 22,663 ✭✭✭✭✭
    It's more about volume. "Paper" is for thousands of ounces of generic industrial grade pure silver. "Babe" price is for an ounce or two of pretty silver, delivered retail.

    Liberty: Parent of Science & Industry

  • OverdateOverdate Posts: 7,085 ✭✭✭✭✭
    << Whats up with Silver this evening. >>

    No manipulation, just normal supply and demand. The underlying long-term fundamentals went down 8% briefly, but are now recovering nicely. image

    My Adolph A. Weinman signature :)

  • VanHalenVanHalen Posts: 4,234 ✭✭✭✭✭


    << <i><< Whats up with Silver this evening. >>

    No manipulation, just normal supply and demand. The underlying long-term fundamentals went down 8% briefly, but are now recovering nicely. image >>



    image You read my mind!
  • shorecollshorecoll Posts: 5,446 ✭✭✭✭✭
    Don't worry, people are still paying premiums on eBay. I guess there are lots of people who bid without looking at spot, or the fact that you can buy most of it cheaper from a dealer on Monday.
    ANA-LM, NBS, EAC
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    There was little to no volume on the way down to $20 or the rebound back. That means there were really no sellers and no buyers. The volume came back once above $21.00.
    The entire move in GSR from 62 to 66.9 was wiped right back out. That was not much more than a test dump to see how the market would respond or how easy it would be to push
    past $20.00. The stress test tonight sort of failed. NY will probably try again Monday or Tuesday to revisist the $20's and fill the gap left behind at $20.61.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • RedneckHBRedneckHB Posts: 19,395 ✭✭✭✭✭
    Blame my kid.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • SoCalBigMarkSoCalBigMark Posts: 2,795 ✭✭✭✭✭
    Look out below if Gold breaks through $1300... image
  • derrybderryb Posts: 37,276 ✭✭✭✭✭


    << <i>Blame my kid. >>


    Tell him/her thanks for the opportunity to pick up USLV on the cheap first thing this morning. Just flipped it with enough profit for two more green boxes. Tell the kid to take it back down to $22 so I can place the order.

    Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards

  • DrBusterDrBuster Posts: 5,430 ✭✭✭✭✭
    I need to get back into the market and get me some of that DerryB action money!
  • guitarwesguitarwes Posts: 9,280 ✭✭✭


    << <i>Just flipped it with enough profit for two more green boxes. >>



    dang.....
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • OperationButterOperationButter Posts: 1,672 ✭✭✭
    nice work... give a heads up next time image
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • derrybderryb Posts: 37,276 ✭✭✭✭✭
    paper is not necessarily a bad thing. Great for flipping. Just don't hold it too long.

    Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards

  • mariner67mariner67 Posts: 2,746 ✭✭✭


    << <i>

    << <i>Blame my kid. >>


    Tell him/her thanks for the opportunity to pick up USLV on the cheap first thing this morning. Just flipped it with enough profit for two more green boxes. Tell the kid to take it back down to $22 so I can place the order. >>



    Gee, just curious....does that mean you bought several hundred thousand worth of USLV this morning to achieve that quick flip profit of roughly 30K?
    Big numbers and big nads!
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • derrybderryb Posts: 37,276 ✭✭✭✭✭
    USLV, 17.45K shares

    DSLV works well on the down cycle.

    Playing silver's volatility is risky but it can be rewarding. Get in and get out, don't get greedy.

    Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards

  • guitarwesguitarwes Posts: 9,280 ✭✭✭
    derryb is Da Man. Long rumored, now confirmed.

    Congrats on obtaining the knowledge to profit nicely in this grizzly world.
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • derrybderryb Posts: 37,276 ✭✭✭✭✭


    << <i>nice work... give a heads up next time image >>



    Heads up: stack physical for long term.

    Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards

  • mariner67mariner67 Posts: 2,746 ✭✭✭


    << <i>

    << <i>nice work... give a heads up next time image >>



    Heads up: stack physical for long term. >>



    I believe he was referring to a "short term" heads up, not long term!
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • OPAOPA Posts: 17,133 ✭✭✭✭✭


    << <i>

    << <i>Blame my kid. >>


    Tell him/her thanks for the opportunity to pick up USLV on the cheap first thing this morning. Just flipped it with enough profit for two more green boxes. Tell the kid to take it back down to $22 so I can place the order. >>



    Uncle Sam loves transactions like yours.image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BaleyBaley Posts: 22,663 ✭✭✭✭✭
    it's getting volatile

    Liberty: Parent of Science & Industry

  • derrybderryb Posts: 37,276 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>nice work... give a heads up next time image >>



    Heads up: stack physical for long term. >>



    I believe he was referring to a "short term" heads up, not long term! >>


    You have to paper trade your own gut, not mine.

    Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards

  • VanHalenVanHalen Posts: 4,234 ✭✭✭✭✭


    << <i>it's getting volatile >>



    Man oh man is it ever. Ag with a 12% swing in 12 hours?? WTF?
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>

    << <i>nice work... give a heads up next time image >>



    Heads up: stack physical for long term. >>



    That's awesome! Peanuts, roated salted and shelled todayimage
  • RedneckHBRedneckHB Posts: 19,395 ✭✭✭✭✭
    Nice way to go "all in" Derry.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

Sign In or Register to comment.