trew said:
When you see the price chugging along and then all of a sudden drop 5% in a matter of minutes - that is not the normal market.
That is a deliberate attack on the market.
If the sellers were real sellers, they would want a higher price, not a lower price. They would trickle their sales in gradually so as not to push the price down.
This is selling short on such a scale to purposely push the price down.
I am sure that the short sellers are all over this at the moment, they smell blood and like a school of sharks they will all circle and see if they can get a bite out of it.
But again your fundamental understanding of markets is wrong.
Week hands are exiting, too many positions have been built up in recent years, based on all the speel about owning gold and silver.
REGARGLESS of whether that speel is true or not, the week players are tired of sitting on positions which are loosing money over time.
Then there are the 'big players' and unlike the small retail players, their movements have a significant effect on the underlying markets.
And when the big players start exiting at the same time as market turmoil, you have serious price damage.
And why are those big players exiting, because there has been MAJOR technical breakdown in prices. Longer term support levels have now broken, and that means exit.
This forum reminds me so much of the dot.com era.
15yrs later and is the NASDAQ anywhere like its 1990's highs?
So those that got out early, kept their capital.
Those that just sat on the side lines and prayed got slaughted.
I am a wolf, i have no interest in changing to be a sheep.
I will let others be the sheep.