this volatility over night proves that the shorts are still in control, but the control is being lost slowly. these rises in ag are good shakes out the weak hands. gotta have guts to ride this rollercoaster
"That was ABC ... I guess no stock but could buy at that price" ABC's buy\sell spread widens based on volatility. That said, they at least have a relatively honest base markup, which is a flat rate for each item. I did an analysis on the different sizes and the increased efficiency you get on buying bugger individual units. The difference between the 1kg, 5kg and 15kg was about 2.4% maximum from memory (on the day I did the calculation). I think 5kg was 0.7% more efficient, or something like that. About 2 weeks ago they told me that during an Indian festival at this time of year they move their stock around, as they have more Indian sales. Stock was coming back in a few weeks... and that would be about now ish.
"gotta have guts to ride this rollercoaster" I think physical is easy to deal with really. I traded 30 contracts of wti during Katrina. You have NO idea of the gut wrenching fear. The tick charts were moving 50-100 pips every 30 seconds at one point. This. This is easy. It just sits there. You don't feel as compelled to keep checking the trade over and over, looking for signs, checking the weather radars in the gulf LOL. Way of see it, this is not trading. This is saving. Saving that is actually fun. It looks pretty, you can check the comparison rate to fiat to see how fiat is doing (normally poorly for the USD), you get to watch with interest the whole JPM sideshow, that may or may not pan out. But who cares. The fundies on Silver are incredible. Ratio, industrial consumption, Mexico wanting to back it's currency with ag, ben and inflation, europe, mean reversion, etc... Just forget about the price and aim to but a 1kg pamp each month or two. Silver is heading towards $150 minimum I believe. That's a 500% increase, just to even the 15:1 ratio. Then we will probably have overshoot, industrial hoarding whislt the price is cheaper (Take all you need boys ). All the while as gold goes up the 15:1 ratio is tracking an increasing target. ...and all you have to do is let it sit there... and do nothing. (Ok, maybe give it some friends)
Forgot to mention, AUD is double where it could be if china slows for a while. That means in effect we're currently buying low (cheap). Nice.
"Silver just took a dive. down USD $1.58" Manipulation. Bullion Vault see 5:1 Buyers to sellers. Fundamentals haven't changed. This is a shake out.
Silver is on sale. I sold some of my CEF this morning to buy shares of a silver miner. Both will do well, but the miners have more leverage than the physical pms.
Per Turd Ferguson, silver is about to break out of a wedge pattern and he believes it will be to the upside. It looks like he will be right. http://tfmetalsreport.blogspot.com/
Old forum....is it just me? But it seems that the Aus market is too shy on passing $30 Silver and are waiting to see what US will do overnight.
It's much easier to "manage" any market on thin volume. The test will be when Comex opens. Although, it is Tuesday which is the favourite day for the bad guys to hit the PM's. No doubt they will try to paint the tape at the London AM fix, but I've a feeling that they may have a real struggle on their hands from hereon in to "manage" the market down too far. Either way it doesn't worry me. A few bucks here or there now will mean very little when price reaches triple figures