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Monday morning smackdown?

gecko109gecko109 Posts: 8,231 ✭
in Precious Metals
DIVE!

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  • pitbosspitboss Posts: 8,643 ✭✭✭

    No really. Down a bit but that is expected.
  • gecko109gecko109 Posts: 8,231 ✭
    Its already off 40 cents this morning.....lotta trading left in the day. Im predicting $33.50 by midweek in a MUCH needed cool-off period.
  • MesquiteMesquite Posts: 4,075 ✭✭✭
    Yes, but both Au and Ag are trading higher then they closed on Friday. No smackdown, at least not yet.
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    –John Adams, 1826
  • derrybderryb Posts: 37,382 ✭✭✭✭✭
    smackdowns will be much more subtle than what we are used to seeing. Should give more time to get out once the smackdown trend is established.

    Capital investment depends on confidence. - Martin Armstrong

  • reddwingreddwing Posts: 137 ✭✭
    Agreed...some consolidation is a good thing for the longer term.
  • derrybderryb Posts: 37,382 ✭✭✭✭✭
    The spot I'm seeing must be coming from Bernake. image

    Capital investment depends on confidence. - Martin Armstrong

  • ksammutksammut Posts: 1,076 ✭✭✭
    Up Periscope
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  • CaptHenwayCaptHenway Posts: 32,515 ✭✭✭✭✭
    Ya gotta remember what the new base is. A 40 cent zig is barely over 1%.
    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.
  • akuracy503akuracy503 Posts: 1,923 ✭✭✭
    Well its starting to look like a monday morning smackdown PST zone.

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  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    The quick whacks to gold and silver are more indicative of our favorite naked short sellers than actual distribution. Silver doesn't smell "cooked" yet.

    But the silver miners did fly this morning then pulled all the way back. Looks pretty bearish...and maybe just a head fake. Still lots of buying going on with the silver juniors.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • meluaufeetmeluaufeet Posts: 764 ✭✭✭
    They're losing their mojo...
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,406 ✭✭✭✭✭
    $36 held nicely. We'll see if Asia rebuilds the momentum.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
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  • RedHerringRedHerring Posts: 2,077 ✭
    A couple analysts on CNBC just predicted QE3 and QE4 coming soon! They said get out of stocks and into PMs now though, because QE3 could be a ways off and the equity markets will take a dive this spring.

    Either way it's bullish for PMs but I agree, a pullback in Ag should be expected. We might hit $40 before that happens. image
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭


    << <i>A couple analysts on CNBC just predicted QE3 and QE4 coming soon! They said get out of stocks and into PMs now though, because QE3 could be a ways off and the equity markets will take a dive this spring. Either way it's bullish for PMs but I agree, a pullback in Ag should be expected. We might hit $40 before that happens. image >>



    That's sort of funny, because just last week 2 of their prized talking heads (ie Griffiths and Liesman) said that QE3 was all but dead. And everyone in the room with them nodded approvingly. Amazing what a week can do.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • derrybderryb Posts: 37,382 ✭✭✭✭✭
    MsM's new name for QE in another thread: QE~

    Capital investment depends on confidence. - Martin Armstrong

  • StewStew Posts: 1,002
    Personally I think the members of this forum know an immeasurable amount more about the markets
    and the world events that affect them than any of the talking heads on ANY of the network
    business news channels

    There are times when I watch some of them and just shake my head. They are Clueless which is just scary
    or they are flat out lying pushing someones agenda which is scarier image
    You can learn more about what is actually going on here in the states from the foreign news services

    Now we just need to set up a studio and webcam feeds from forum members to do reporting on
    market conditions. Would take the highest ratings in no time at all.
    Just because there would be news with truth and common sense.

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  • OPAOPA Posts: 17,136 ✭✭✭✭✭
    Monday morning smackdown?

    It may just be a day late...must have overslept...
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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