$18 is a $10 drop from today. Over 30%. Very big call indeed. Personally, I'll be bloody delighted if it does. I'll definitely be in the market to play catch up
Spot falling is similar to central bank lowering of the interest rates. just because it falls, doesnt necessarily mean that the price reduction will be passed on with physical.
The demand is definately there...look at that last minute rush just before the market closed, silver up from high 26's to low 28's. Gold, an almost identical pattern.
the nature of 'corrections' in markets is about those situations, like what we have now, where demand so far exceeds supply that the market has to sell off warehouse size quantities to re-liquify the market. that means big traders have to dump their physical, and that requires a big price drop. this is what the phenomena of 'bear trap' is actually about. liquidity simply means active trade volumes. while the market is so illiquid the business side is suffering, because brokers aren't making their brokerage fees. it's in their interest to see trading resume and the only way for that to happen is on the bottom end of the market which means a fair proportion of the big holdings have to be divided into smaller lots in order to sell. i'm quite certain that the correction has a long way to go. until i stop hearing reports of silver's unobtanium status the market is frozen in illiquidity and will not resume until a major selloff puts silver in the hands of small bullion producers.
well, silver is powering up past 30.8 and heading for a new high. i was just saying earlier to a fellow stacker 'silver touched 30.8, and 30.8 liked it'
it's funny cos i thought it would head on down to 22 at least. well, no matter. the trend is still within a pretty tight band, about 15%.
WOw just come back to this forum after 3 weeks and silver is at 30.78 already. How high do you think this pull will be? 40 silver by March end??? Any guess
check out Harvey Organ's latest and also http://www.zerohedge.com/article/silver-12-cents-away-post-hunt-brothers-closing-high March is looking interesting Hope no swans come a'honkin
Yes it has hit USD31.11 at 2.24 EST. That should make a lot of SS members happy in the morning. Regards Errol 43
Read the "experts blogs" yesterday and if silver breaks the $31 ( USD ) barrier then there will be no stopping it hitting $50 before the end of the year.
