WOW! What just happened?

Discussion in 'Silver' started by MelbBrad, May 1, 2011.

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  1. Lord Dragon

    Lord Dragon Member

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    Looks like a big player trying to trigger everyones sell stops.
     
    Lord Dragon, May 2, 2011
    #21
  2. goldpelican

    goldpelican Administrator Staff Member

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    Buy paper and convert later? :) ETPMAG.
     
    goldpelican, May 2, 2011
    #22
  3. PerthStack

    PerthStack Member

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    Yep, Bear trap.
     
    PerthStack, May 2, 2011
    #23
  4. Matthew 26:14

    Matthew 26:14 New Member

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    Silver isnt called the Devil's Metal for nothing.
     
    Matthew 26:14, May 2, 2011
    #24
  5. renovator

    renovator Well-Known Member

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    you can buy online at gainsville with no account & the price is updated every 2 minutes so you get current prices shipping is fair priced $75 flat fee +25cents an ounce
     
    renovator, May 2, 2011
    #25
  6. goldpelican

    goldpelican Administrator Staff Member

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    Must say though, to anyone out there having a heart attack over the POS dropping so quickly, now is a good time to examine why you're having that reaction and re-evaluate why you're holding physical silver. Are you stacking for long term wealth creation, speculation, investment, insurance or SHTF? How does such a price drop fit with your strategy?
     
    goldpelican, May 2, 2011
    #26
  7. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

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    This translates directly to silver is still being manipulated
     
    Yippe-Ki-Ya, May 2, 2011
    #27
  8. Ernster

    Ernster New Member

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    I just want to make money...simple as that ;) Should we be worried?
     
    Ernster, May 2, 2011
    #28
  9. jedichampion

    jedichampion New Member

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    lol why is that?
     
    jedichampion, May 2, 2011
    #29
  10. goldpelican

    goldpelican Administrator Staff Member

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    Yep. Which is probably why we won't see a GSR of 15 anytime soon.
     
    goldpelican, May 2, 2011
    #30
  11. Silverthorn

    Silverthorn Well-Known Member

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    Looks like all the action was on the globex market before sydney opened. Someone sold silver and bought gold.
     
    Silverthorn, May 2, 2011
    #31
  12. EmpireBay

    EmpireBay New Member

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    Agreed. For those who are confident in their long term strategy, these short term movements are opportunities not times for freaking out. I will be looking to expand now, and definitely not retreat.
     
    EmpireBay, May 2, 2011
    #32
  13. Nugget

    Nugget Well-Known Member Silver Stacker

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    Smart money?
     
    Nugget, May 2, 2011
    #33
  14. Matthew 26:14

    Matthew 26:14 New Member

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    VERY thin volume to cause that $5 tank. Let's just see what unfolds. Looks like someone just sold their paper silver at any price. Perhaps a fat fingered trader caused it also? Anyway, $45+ by the end of the day is my bet.
     
    Matthew 26:14, May 2, 2011
    #34
  15. Silverthorn

    Silverthorn Well-Known Member

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    Maybe but silver gapped up and the GSR gapped down over the holiday weekend so was likely to correct a bit.
     
    Silverthorn, May 2, 2011
    #35
  16. Dynoman

    Dynoman Active Member

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    Is cool, you have to remember the silver market is small compared to Gold. That breeds volatility into the spot price when someone big takes a profit. It will come back pretty quickly.

    PS: Did Stella sell some more ?
     
    Dynoman, May 2, 2011
    #36
  17. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    I call 'bear trap' too!
     
    Clawhammer, May 2, 2011
    #37
  18. Bulawan pilak

    Bulawan pilak New Member

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    I suppose if you were a silver trader and you could see the media phase approaching with prices rising, you would hope to cause some changes in the POS.
    This on first site IMO is manipulation, and after reading a bit this week having the POS slow down is a good thing as we want the price to rise gradually.
    $90 by the end of year is a good price. I have to wait a bit to buy large shortly..... 'Just keep swimming'.....'Just keep stacking'
     
    Bulawan pilak, May 2, 2011
    #38
  19. silverfunk

    silverfunk Active Member

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    lovely little shakeout, love the volatility.
     
    silverfunk, May 2, 2011
    #39
  20. fishball

    fishball New Member Silver Stacker

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    Probably should've taken opportunity of this dip and bought from APMEX/Gainsville... but stupid credit card bill due today so can't splurge :(
     
    fishball, May 2, 2011
    #40
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