Silver taking a hit this morning May 11

[jim4silver]

If it breaks down into the 36 range I may need to add a few ounces to the stash. Will have to wait and see.

Jim

 

Amazon Forum Fav 👍

Treasure of Victoria Peak - Grab it through Amazon!

[mts]

I'm still waiting. I won't pull the trigger unless it goes down and stays down for a while. But I am keeping my eye open for any good deals that might come along.

 

[jim4silver]

I'm still waiting. I won't pull the trigger unless it goes down and stays down for a while. But I am keeping my eye open for any good deals that might come along.

That was my original plan when the crash happened. I have completely lost my short term "vibe" on what I think silver will do. While long term I am very bullish, I still kind of think this summer it could get knocked down along with other PMs for a bit. However, a part of me thinks they could push it back to 50 in a matter of days/weeks if they want to. If I can get in for below 37 on some generic bullion I will add a bit. Not going all in though unless we are in the 20s. If we do get another quick push to high 40s I will probably sell a bit to get some profits. I want to have some $$$$$ on the sidelines to short some stocks this summer maybe (I think when QE2 officially ends in June the stock market will have a sell off, at least short term).

I am not sure there will be any periods of quiet in silver where it stays at one level for any length of time for the near future.

Jim

 

[mts]

Well I certainly trust your judgement on the matter. I just don't want to make the mistake of pulling the trigger on what I think is only a short term pullback only to find that the price keeps going down below $30. So I think I'll wait this one out. If it goes back up and stays up then no big deal.

 

[Marchas45]

Has anyone noticed that the Rise and the Falls have started in the Asian Market? It's just something that I've noticed when we had the last big Crash and that started in the Asian Market.

 

[jim4silver]

Has anyone noticed that the Rise and the Falls have started in the Asian Market? It's just something that I've noticed when we had the last big Crash and that started in the Asian Market.

I never figured out how all that works overnight. For example, in addition to the Asian markets there is the Australian market, London market, etc. I am just guessing, but I would think the "big players", whomever they are, play all the markets at various times. For instance, an Asian trader can buy futures on Comex, etc.

Jim

 

[JD-GA]

You are right Jim. All you need to trade in the asian market is an account with an asian trading firm as far as I am aware. A few weeks ago the Asians would run the price up and Americans would take profits and lower it. This week it appears the other way around. My guess on the price drop today due to all the markets going down. Even Disney lost almost $2 a share.

 

[Vodka1000]

Has anyone noticed that the Rise and the Falls have started in the Asian Market? It's just something that I've noticed when we had the last big Crash and that started in the Asian Market.

http://mobile.reuters.com/article/idUSTRE71H0EB20110512?irpc=932

http://www.silverseek.com/

 

[Vodka1000]

Lates from this morning;
http://mobile.reuters.com/article/idUSTRE73786N20110513?irpc=932