A price 'smackdown' is caused by people that sell. This is a precious metal forum. Statistically there must be plenty people here that sit ready to smack it down. So let's ask them on which price they wait, and what the lowest is at which they gonna sell?
I would agree that a smackdown is due to a sell off, but I wouldn't say "people" are responsible. Anyways, it's come to be expected lately. Anytime we have a run up, it's smashed quickly. And fundamentals are out the window.
God damn carrot munchers! Na but seriously I want the price of silver to fall, I don't care who does the buying or selling
Yeah munchers is a fair name.. No slapdown happening today. Do I believe my own eyes? Maybe they let it ride for a day or two before reaching for the machete.
Wait for the results of the FOMC meeting. We might see a smack down then. 'Down down, prices are down!'
In the end, that 'smackdown' is just people selling the silver (doesnt matter delivered or not) they previously bought.
Keep an eye on this: http://finviz.com/futures_charts.ashx?t=6E&p=w1 See that Euro uptrend? When that approaches the multiyear channel edge (this time the upper side), 1,43 or 1,45, the next big silver dump is likely to happen. The Comex players that wipe their positions. So to expect is some ugly news from the US, to make dollar appear ugly, euro appear better, and rising further. Until that major trend reversal. I'm waiting for that trend reversal to 'back up the truck'. Every further month it doesnt happen, adds a kilo silver to that future order of me. I'm now at 6-7.
Non-Farm Payroll report is coming out Friday (Feb 1st) in the States. It is one of the times that whistleblower Andrew Maguire spelled out to the CFTC that is used by JPM to smacked down the price. I am prepared/hoping for some downward action that day.
Yesterday I told myself to wait until Thursday morning for a smackdown. Did I listen? No. Bought 100oz of silver yesterday.
Well, since friday, after months useless bidding (losing everytime), it seems that people finally accept my target price based bids. 50 x 25gram 0.900 coins (waiting for payment details) 2 x 25gram 0.900 coins (agreed and paid) 10 x 1oz Libertad (agreed and paid) 20 x 1oz Philharmoniker (agreed and paid over a couple minutes) I was about to buy some of those nice 25oz silver bullets but it turnt out that tax and shipping cost makes it more government sponsoring than silver buying. :< Since recent weeks I see people selling alot silver. Concerns and other bidders became reluctant/hesitate. In this environment, I became the buying side. I always bid the same silver weight based target price. People always bid more. And now, with the price hanging in the early 30's, thus much lower, they got scared to buy. Funny eh?
Hi Silverblood, have been watching the SMACKDOWN with interest each week. Have begun recording the numbers out of curiosity.Not enough data yet but plan to post the info after another couple of months.
