WOW! What just happened?

Peter said:
Flip said:
down is good
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Well ,you might just get alot more "good."
Possibly all the way to $30.
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A real possibility.

Would put the GSR back at 1:47.

Au has the support of the Central Bank buy-backs - Ag has had a huge speculative run - I back $AUD35 before it steadies.

Gold is the ultimate long term and hedge play. Silver is too speculative to risk enough fiat to make it worth while, unless you are a speculator.
 
bushfaery said:
projack said:
Do not worry guys everything is under control
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but who is in control?

http://www.snotr.com/video/3176/Lifted

(tried to find a youtube, but the only one with original audio was crap video)
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Gold already cost you more than yesterday in AUD and the GSR back 2 oz from 32.* to 34.* and that is normal and healthy afer that big run up.
Lets see what happens tonight before we get too exited.
 
Ilikemetals said:
They chose today because of the Asian public holiday, less resistance that way. Don't worry, it's going back up, they're just using today as an opportunity to buy back some real silver to cover their short positions.
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id say this had a lot to do with it combined with Margin requirements.
 
SilverBaron said:
Stella could end up looking like a genius.

Only time will tell.
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Stella's a smart guy, Regardless of how far up silver goes his done his trade and his made his gains. Only God can pick the market tops (if you believe in him :)) and no one else. Even being 3/4 of the way up and exiting ready to do the next trade is a good move. You NEVER loose that way but you always gain. I like the way he does his assessments and so far I have agreed with almost all the things he has said. (possibly disregarding the numismatic stuff cause that just depends on the numismatics that you get :))
 
Some people are now saying that this 'crash' of silver price is the end of the bull market...but I don't get how they can stare at these extremely low trading volumes and say "aha it's over!".

So if I'm correct in my belief, basically a bunch of people decided to sell their positions for 43 USD and as such a lot of buyers went in and hence the 'spot rate' is 43, nothing has changed with regards to our physical purchases, dealers are still charging a premium of 46+ AUD/oz.

Somehow all this isn't remotely making me panic, or am I missing something?
 
I can't help but feel there is an uncanny connection with todays price correction before the announcement of osama's alledged death. Almost as if it was planned.
 
Definately hurts a little when I bought up over the last few weeks but so far I'm still not at a loss, maybe if it goes down more I'll add to the collection for the long term.
 
Norrin Radd said:
Ilikemetals said:
They chose today because of the Asian public holiday, less resistance that way. Don't worry, it's going back up, they're just using today as an opportunity to buy back some real silver to cover their short positions.
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id say this had a lot to do with it combined with Margin requirements.
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Mate - are you trying to impersonate me?? :)
 
Yippe-Ki-Ya said:
Norrin Radd said:
Ilikemetals said:
They chose today because of the Asian public holiday, less resistance that way. Don't worry, it's going back up, they're just using today as an opportunity to buy back some real silver to cover their short positions.
Click to expand...


id say this had a lot to do with it combined with Margin requirements.
Click to expand...

Mate - are you trying to impersonate me?? :)
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He was silver surfing before you so I doubt it ;)
 
boston said:
I can't help but feel there is an uncanny connection with todays price correction before the announcement of osama's alledged death. Almost as if it was planned.
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Totally agree boston, very much a possibility. Take away some of the attention of a rather uncanny price movement.

From Bloomberg:

"We opened up this morning n New Zealand exceptionally well bid across the board," Jonathan Barratt, managing director at Commodity Broking Services Pty, said in a phone interview from Sydney today. "We got a high in gold and then we got massive sell orders in the spot market and the price fell through. When futures opened the market fell again."

I took a massive hit this morning on my "paper silver" spot silver v us dollar thru CMC Margin call in 5 minutes! lost 6.5k, my fault for setting the stop loss too low. Although CCU and AYN held up well which along with my physical (40% of my portfolio) hold a significant percentage aswell. Silver ain't for the faint hearted that's for sure! Though we have seen a pretty solid recovery and IMO we will be back at $47 by the end of the week or even tomorrow. Silver still in backwardation, physical very difficult to get a hold off in any decent quantity I'd imagine. My dealer bullionmark has next to no silver remaining bar 1000oz bars, international coins etc The two margin hikes may slow things which is probably a good thing but ultimately bullish going forward. Should be an interesting week! Good luck to all! :)
 
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