Da Boyz are Back in Town

[beauanderos]

They're crushing the price again this morning You take a look at netdania's silver chart and there is a huge volume spike and a forty cent drop in a four minute span

[Country]

Thanksgiving rally seems over; never was any followthrough...

[slickeast]

I just looked at kitco before coming on RC. Somebody is swinging a big hammer this morning.

[barrytrot]

It looks like they are transfering money from silver to "powerball"

[slickeast]

It looks like they are transfering money from silver to "powerball"

I thought people were dumping metals to buy TV's. Your answer seems more logical.

[JobIII]

When's the drawing for the powerball?

[beauanderos]

It looks like they are transfering money from silver to "powerball"

good answer, good answer

[barrytrot]

When's the drawing for the powerball?

I think tonight and HOPE tonight as I didn't get a chance to buy the "team's tickets" yet and my wife finally has a chance during the noon-ish nap time for our daughter.

[Market Harmony]

Maybe I'm crazy, but this looks like a buying opportunity if you played in paper

[beauanderos]

Maybe I'm crazy, but this looks like a buying opportunity if you played in paper

Which I just did. Bought some more USLV, not much, but at a better price than yesterday

[beauanderos]

the minute to minute action is interesting

http://netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChartPopUp.aspx?symbol=XAGUSD|netdania_fxa&name=Silver

[dakota1955]

of course it will go down I bought 100 ounces yesterday

[beauanderos]

of course it will go down I bought 100 ounces yesterday

I didn't want to hex the direction... but I also bought heavily earlier this week. "Curses, foiled again!"

[shinnosuke]

of course it will go down I bought 100 ounces yesterday

I didn't want to hex the direction... but I also bought heavily earlier this week. "Curses, foiled again!"

It's only a flesh wound.

flesh wound.png (89.09 KiB) Viewed 1123 times

[beauanderos]

good one, Doug... gotta love the visuals

looks like we're starting to get a bounce back

[68Camaro]

Was busy this morning and this all came and (almost) went before I realized what happened. Gold is down more than silver, which is unusual and a sign of some type of background difference (silver short covering still in effect?). Plus it's a USD-index related move, and gold is still money is some parts of the world, so PMs will take a short-term hit from that. Silver down only 30-ish cents at this point - less than 1%. Gold is down nearly 2%, was headed up and started to reverse again when the USD index joggled. So there is definitely a USD index related instantaneous over-reaction but these moves tend to dampen out over hours and days and come back to a rational valuation.

Is the move up done? Maybe for near-term, but the overall cup and handle is still there and waiting for the breakout move.

[Mossy]

Looks like gold spot was attacked and driven down and silver just spiked down in sympathy with the gold drop, but there was no reason for it to stay down.

[beauanderos]

Looks like the da boyz may be getting the red carpet yanked out from under them today

[68Camaro]

[Rodebaugh]

Good call on yesterdays paper play.

[beauanderos]

Good call on yesterdays paper play.

too bad I could only afford 18 shares.. . it's up $4 per share already

[mbailey1234]

Good call on yesterdays paper play.

too bad I could only afford 18 shares.. . it's up $4 per share already

1800 or 18,000??

[bankmining]

... and there's the take-down.

[beauanderos]

... and there's the take-down.

it get's OLD... doesn't it?

[goodcents]

I'm getting whiplash from all this back and forth.