SPOT - WTF Just happened...

Discussion in 'General Precious Metals Discussion' started by Austacker, Aug 24, 2011.

  1. Austacker

    Austacker Active Member

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    Title says it all both AG/AU just plummeted (Silver $1.34) (Gold $55.00 ~) what is going on any reason for this massive drop. Is it a reset or someone trying to do something else. Or a computer glitch argg

    - Good for Dragon purchases though if it keep going -
     
  2. Austacker

    Austacker Active Member

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    I think your getting your wish...
     
  3. da-shaz

    da-shaz New Member

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    America?

    Dow is up again. Might be less of a flight to safety tonight.
     
  4. Naphthalene Man

    Naphthalene Man Active Member Silver Stacker

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    i don't mind if it goes low for dragon time
     
  5. Austacker

    Austacker Active Member

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    Peeps on the East Coast are going to wake up tomorrow and hit refresh several times to make sure they are still not dreaming ?

    Free Falling...
     
  6. ReturnToZero

    ReturnToZero New Member

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    There were multiple news releases from the States

    President Obama woke up in the middle of the night and just remembered he had 20 trillion stashed under his presidential bed. Medicare, Medicaid and Social Security just finished an audit on current and potential future claimants, finding that 90% of current and future claimants are actually completely healthy and 85% of those who claim to be over 85 are actually on average just over 47 - thus solving America's deficit and debts.

    Gold and Silver is finished, the gravy train called the American dream is back on track and full steam ahead choo choooooo

    On a serious note - I think this is the market pricing in QE3 as people move in to stocks to take advantage of the printing press - this is a temporary pull back and a great time to.. BTFD
     
  7. Austacker

    Austacker Active Member

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    I just posted a For Sale only 1/2 and hour ago and used $40 as a guide that is now nearly $2 overpriced. I have not seen a free fall like this since April. Wooo I am getting giddy from the air pressure change.

    Still dropping, another one again.

    This is going to make the MSM go crazy and all the spruikers jump with joy telling anyone that will listen "See I told you so it was in a bubble" hold steady folks it could be a bumpy ride for a few weeks again.
     
  8. Arsenal

    Arsenal New Member

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    bubble?
    me thinks more manipulation............how else can it go down so quickly? :/
     
  9. PMcat

    PMcat New Member

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    robbing eyes....takes a second look...

    I wonder if the banks got a secret signal from Ben that QE3 is a go :/
     
  10. projack

    projack Well-Known Member Silver Stacker

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    Maybe Bernanke was told by JP Morgan after the Fed shareholder meeting no QE3
     
  11. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Is it 'real' or just another glitch?
     
  12. Austacker

    Austacker Active Member

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    Actually I know what happened, I bought some AU today so that says it all :(
     
  13. da-shaz

    da-shaz New Member

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    Im confused

    I thought QE was bullish for precious metals...
     
  14. ReturnToZero

    ReturnToZero New Member

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    The initial announcement is not bullish, as QE means stocks will be boosted and people move from gold and silver to stocks - it is bullish in the medium and long term.
     
  15. Peter

    Peter Well-Known Member

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    Don't like it going down,,go back up you bugger.

    Thinking about it ,this sort of thing was predicted.
    Expect increasingly dramatic ups and downs,100 dollar swings in a day ,
    as things become more unstable.
    Those who manipulate currencies hate gold because it makes what they do obvious,
    and you can expect them not to give up without a fight.
    Expect the ride to be dramatic.

    (talking to myself)
     
  16. Sargeant Argent

    Sargeant Argent New Member

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    I'm stoked got my finger hovering over the buy button on a 5 g gold and a few ozs of silver
     
  17. jnkmbx

    jnkmbx Well-Known Member

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    Never forget that only _we_ believe PMs are a safe haven - and only if its physical.

    The traders that parked their cash in paper PMs during the last few weeks did so with the intention to move out when the coast was clear.
    QE3 will clear the coast. They don't believe in SHTF.

    QE3 does give Silver Stackers that bullish feeling though :p

    ps. I thought JPM was going to "clear the coast" but obviously they prefer Helicopter Ben to do the work
     
  18. Naphthalene Man

    Naphthalene Man Active Member Silver Stacker

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    This is the first dip where i've actually got some money - yay! Ahh to hell with the other debts i'm trying to pay down atm.
     
  19. Naphthalene Man

    Naphthalene Man Active Member Silver Stacker

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    Oh, when did i pass 2000? I wanted to watch that :(
     
  20. Guest

    Guest Guest

    Choo Choooooo~That was funny and a great way to start the morning.
    Lol
    So I'm selling onces of gold for $1950 because I don't believe in running with the crowd.
    Show your conviction buy today
    ;)
     

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