SILVERS CRASHING! May 1st Sunday Down 12%

Quote from ArbitRAGE:

I think we can all agree that the precious metals were ready for a correction and news of the death of Bin Laden just set fuel to the fire. I don't want to outline the entire process but do bear in mind that precious metals are preferred flight to safety asset when risks elevate. The death of Bin Laden signifies the demise of Al Queida, which in turn reduces foreign national security risks.
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I would think the death of bin laden elevates the risk due to possible retaliation by his supporters. The us government seem to think so as well.

Bin laden has been nothing more than a figurehead for years, i wish killing him would magically cause the demise of al queida, but you are living in a fantasy world.

Silver was crashing before bin laden's news, mostly due to very thin volume (asian holidays), the margin increase and a top blowoff. Whether it's anything more than a blip remains to be seen.
 
Quote from salvador90:

bought a few contracts at 43,40 :)

I already had positions at 19, 30 and 34 ... expecting this one to work as well at least i hope it will. If not, well cut the loss and move on. But i think it was really a good oportunity
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Nickname salvadoor90;
actually that probably will be a good trade/investment/average cost.Long term trend still looks fine. Not a prediction, simply probabilities.:cool:

Lightened up some silver positions [not contracts....]in late APR;
simply because [pTp]]parabolic time price looked like it may/sell in may/away... I personally do not use parabolic time price in a strict mechanical way; but like the principal. I was rather suprised @ one dealer, sold all his silver to melt. He is not getting out of the silver business, but may remember the $50 bear hunt where they hunted the price up, so to speak.LOL

Did see some insurance in the $55.4 *area;
but that is not an exact number simply an area. Short term trend , seems somwhat of a panda bear/polar bear trend.....

:D
 
Quote from August:
I'm pretty convinced that it's China. This is my evidence:
http://www.youtube.com/watch?v=s8mBEpuIYY0&feature=channel_video_title
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Just noting that this silly video I shared was put up on April 25th when silver was 45.81 very clearly indicating to "short silver."

Now silver is at 38.27.

Lucky guess? Perhaps - but it struck me that I think a lot of people on the boards here will have a couple lucky guesses and be very loud about it and maybe not use a panda bear sidekick to be taken more serioiusly :-) - but because the way they talk they'll get a following. (They speak agressive, confident, loud - will take in the searchers)

Anyway - just an observation.

But wouldn't it be funny if we were all watching this Chinese Gothic Lolita with a panda puppet predict the market as if she were Cramer?
 
the video is funny for sure... trying to double guess the irony, intentions, etc behind it. god only knows whether it's shill, earnest, etc...

silver is just the froth on an ocean wave lately... going in, out, in small and large $. silver = foam. if you're not already in it, give it time to settle down... leave it alone. it's frothing like a rabid animal. why on earth would you attempt to deal with a rabid animal if you don't have to? don't mess with the froth.
 
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