Silver plunge today...do NOT panic....it is just the effect from

[cdickrun64]

Wall Street investment companies having bought in the last half of December, so they can show there clients that they owned silver as of 12/31......"we didn't miss the silver train..."....yeah....whatever. Now that it's a new year, they are selling. Additionally, people may have waited til 2011 to sell to avoid paying the taxes on the gains in the 2010 tax year. I look at this as a buying opportunity....

[kalebdad]

I Agree. They sold stock to take loss in November and December put it into PM's and now are buying back stocks. Tax related smoke and mirrors.

JD

[jerseyben]

Thinking of jumping into ticker "SIL" today. Looks like a buying opportunity to me.

[mr_larry]

I really like silver as an investment, but this may be more than a one-day event. Keep your eye on the US Dollar. If you are making an initial investment in silver, you can buy some today, but I wouldn't go all in. I'd leave some money on the table to dollar cost average in case it goes lower.

[jerseyben]

Limped-in to "SIL" today and considering getting in to "SVM" as well.

[ivan salis]

the big money -- "mover and shakers" guys cause a dip now and then to shake out the "nervious nellies" and feast upon them as they "panic sell" at a low price ---classic " big fish" guys moving the market to prey on the little fish .-- sadly its quite common --watch for the rebound .

[jerseyben]

If it dips any lower I will buy more soon and avg down.

[mr_larry]

There is big volatility in all of the precious metals today, due in part to today's underwhelming jobs report and the Fed's comments.
If you want to understand silver and gold daily price movements, check out the following blog. This guy tracks the trading of silver and gold at the COMEX and he also tracks the physical inventories of the metals there. This guy is not a paranoid delusional conspiracy theorist; he understands these markets quite well.
http://harveyorgan.blogspot.com/
He updates every night.