Silver is dropping right in front of my eyes

Discussion in 'Silver' started by Investing for kids, Jul 28, 2020.

  1. OneDay

    OneDay Active Member Silver Stacker

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    This is a different animal to 2011. The worlds economys are in a literal obvious death spiral.

    Not that I was around in this space in 2011.
     
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  2. Jason1

    Jason1 Well-Known Member

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    ahahaha
    some one is actually shocked that when something goes vert so quickly that it goes down just as fast? lol

    this is why you need to avoid FOMO.
     
    Last edited: Jul 28, 2020
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  3. SilverDJ

    SilverDJ Well-Known Member

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    For comparison gold only dropped 3.3%.
     
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  4. OneDay

    OneDay Active Member Silver Stacker

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    Would panic selling be called FOMO into Fiat?

    At the moment prices are still way up from this time last week.
     
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  5. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    If this rally was able to be halted simply by taking out stops alone, then it wasn't a rally based on value, but one based on technical speculation.
    Following this logic, the subsequent retracement was thus merely the market reverting to find true value in a speculative bubble.
    Under these circumstances, any mention of manipulation is but a mere dreamy form of sour grapes, and the argument holds no substance.
     
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  6. OneDay

    OneDay Active Member Silver Stacker

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    Fiat technically has no real value but its been successfully trading as our currency since at least 1971 ... I'd say 1914.

    So reality and value isn't really how to call things.

    One reality is there is massive amounts of Fiat floating around in Stimulas and in the stock market etc that still has some serious buying power in the real every day economy. This Fiat is fine as long as it stays where it is. When it runs for the exits be it real products in your had or Precious Metals then theres going to be a big bottle neck at the exit points.

    The global economy is on literal lifes support right now. In 2011 there was trouble but not like whats going on now.

    View this push down like some one trying ro hold a swimming kick board under the natural water level. It can't be held down for ever. Even if its not worth much in the future.... AUD is going to be worth absolutely nothing in the not to distant future.
     
  7. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Yeah, I've heard the fiat biography a thousand times.
    But that's got nothing to do with my point.

    If you can bust a price simply by taking out stops, then it wasn't fair price in the first place, and the subsequent drop therefore cannot be categorised as manipulation.
     
  8. OneDay

    OneDay Active Member Silver Stacker

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    The price hasn't bust.

    Bust would be $15 AUD OZ physical.
     
  9. Lucky

    Lucky Active Member

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    I was referring to the comment being made about prices falling after a quick run up, just like in 2011. Many people couldn’t understand why it was coming down when it was supposedly to be going to the moon :)
     
  10. OneDay

    OneDay Active Member Silver Stacker

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    Misquote?
     
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  11. OneDay

    OneDay Active Member Silver Stacker

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    Yeah 2011 would have sucked I imagine. It should have been the crash then but it was averted for nine years. Now the worlds in a way worse position and the crash is coming.

    There maybe some other troublesome things coming too.
     
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  12. Yankee101

    Yankee101 Member

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    Yeah sure, somebody dumping 150,000,000 ounces into the market into the middle of the night isn't manipulation.

    By the way, who has 150,000,000 ounces to dump and why would tthey do so if they were rational?

    They could drip feed the silver into a rising market and make a bundle rather than causing the value of their holdings to fall by some $450,000,000 unless they were shorting it andhten breaking every COMEX rule on the books while doing it.
     
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  13. STKR

    STKR Well-Known Member Silver Stacker

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    Just curious, where are you getting this information from?
     
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  14. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    It's still way up. No worries. Even metals dont go straight up.
     
  15. alor

    alor Well-Known Member Silver Stacker

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    set buying price <$24
    stop when higher >$24
     
  16. Investing for kids

    Investing for kids Active Member

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    Ill take a swim in that river!
     
  17. Investing for kids

    Investing for kids Active Member

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    Spot back up over $34. I'm thinking we just had a bit of a pullback, but I cant be too sure.
     
  18. STKR

    STKR Well-Known Member Silver Stacker

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    Due to the imposed position limits in 2012, there are only a few traders which have exemptions to those limits to take such positions. These are hedge funds and Bullion banks. An individual trader couldn't take such positions even if they wanted to.

    These position limit exemptions (bonafide hedge exemptions) aren't without their own limits though, they still need to have the physical silver to back their positions.
    As it stands, there is approx 950m Oz's in transparent silver holdings for hedge funds and ETFs.
     
  19. SilverDJ

    SilverDJ Well-Known Member

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    Huge dips like this are what limit orders are good for, just set and sit back and wait for the dip.
     
  20. Investing for kids

    Investing for kids Active Member

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    Spots been swimming around $34 today, not very much change at all. Thoughts?
     

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