Silver is taking a dive

[slickeast]

Just noticed silver stepped off a cliff. Will it continue to fall or will it bounce back?

[coppertone]

Market manipulators at work.

[appjoe]

Yes I looked and it was over $29 a few mins later I thought before I leave I would check it and it was at $27.81 droping fast.

[Rodebaugh]

She is trying to level out...man It's like a car wreck.....can't take your eyes off of it.

[beauanderos]

Here's that buying opportunity... take advantage of it.

[Treetop]

Its dropped over a dollar, and is still up for the day.... very interesting to see......

[Neckro]

Why so fixed on the complete domination of silver price? Why not wish for it to stay low for another year or so, so everyone can invest more at a discount. Instead it sounds like you all are purely out for the profit aspect instead of the hedge.

[Rodebaugh]

to heck with bulk buying silver.....I did some buying at lunch (3) ASE's $28 each and a walker for $9

Hey big spender

[appjoe]

I maybe wrong which I probably am. But when it goes up so much so fast then drops so much so fast I won't buy. I'll wait until it levels off for a few hours only small peaks and valleys then I'll buy.

[Treetop]

Id be buying, that is if I hadnt all ready spent my cash on silver the last few weeks. I dont think the rise is over, i think its just a breather, but then im making it up as I go.....

[Devil Soundwave]

I'm personally very pleased about this. I was starting to feel a bit ill at the prospect I may get priced out sooner than expected.

[AGCoinHunter]

Wow, steep drop in AU/AG today after an amazing AM run.

[Pennysaved]

Weird, what do you think caused the drastic change in price?

[Thogey]

More sellers than buyers.

[beauanderos]

It's natural for the volatility to increase as the price rises, but add to that squeezes and more shorting and it just exacerbates the moves

[Devil Soundwave]

More sellers than buyers.

On this basis, how can we expect the price to go up to the likes of $50 etc in the future then?

Are we to expect an increase in buyers as the price rises? Sounds counter-intuitive...

I'm still pretty new to all this so forgive me if the answer to this is obvious.

[Thogey]

It is counter-intuitive. But that's what happens in a hot market. Buyers want out of thier paper so bad the'll pay more for the metal. Silver laid around at $4-7 for 20 years. It's the same silver now as it was then.

But now people are waking up and us dollars stink to high heaven.

[theo]

Conventional wisdom says its profit taking from the recent run up. However a lot of large down moves seem to occur in the early afternoon with little or no news driving them. I suppose that suggests manipulation, but I don't have the expertise to say for sure.

[Devil Soundwave]

Man I wish I was around to have gotten in on silver at $4!

[Treetop]

Wow, what a ride..... Sad to say, but before to long, this might be considered a calm day for silver. Up a dollar part of the day, down one a few hours later.....

[theo]

Yeah. . . Its easy to forget that volatility means down as well as up.

[Rodebaugh]

Almost a $3 swing in a day#!@!?

CRAZY VOLATILITY

[rickygee]

Really appreciate the heads up! Picked up some Phils at a relatively very good price! Slickster you're all right!

[neilgin1]

Hey yall,\
when you set a new high, then close lower, in big volume, thats a reversal.

the major trend is higher, humbly i submit pushing silver to $75-$125 an oz, but i think, just maybe we get lucky, and she trades down to the old resistance level of 20-21, which would be a God send. one last time to get on the train, at a right and decent price.

God bless you all, neil

[appjoe]

I've done a lot of buying in the last 2 months and what I see going on now I decided I'm going to lay off for a little while and see what happens. I said I would buy up to 20x face and so far the most I spent was this last weekend at 17x face. I don't want to get caught in a 1980 situation. I'll buy on supply and demand not on manipulation. The way it moved today is not normal by any means. So for me it's a wait and see game now. A few friends are buying up all they can now saying this drop is what they were waiting for but something doesn't smell right to me. I may kick myself for waiting but I have to go with my gut.