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With the currently crashing commodities, metal hoarders everywhere want to know what will be the bottom?

Enough to take the hubris and arrogance out of traders.

What I find most interesting is how people view the market relative to their financial commitment. Those who are long view rising prices as a testament to the deterioration of fiat currency, even though the move in silver has a multiple alpha. When prices decline (and precipitously during a mass exodus), it couldn't possibly be the fiat appreciation, but a total manipulation of the metal market.
Take it all with a grain of salt.

Jonflyfish wrote:What I find most interesting is how people view the market relative to their financial commitment. Those who are long view rising prices as a testament to the deterioration of fiat currency, even though the move in silver has a multiple alpha. When prices decline (and precipitously during a mass exodus), it couldn't possibly be the fiat appreciation, but a total manipulation of the metal market.
Take it all with a grain of salt.

But what is strange, for example, is my 2nd favorite fiat, JPY, appreciating versus the USD. Shoot, their economy is in worse shape than ours; their sovereign debt a higher percentage of GDP than that of the US. FOREX doesn't happen in a vacuum, but I cannot get my brain around some of the things I see happening.

Did apmex spark this sell off fire? That over the top buyback was a temptation for any ASE holder.

Apmex's premium over spot on their ASE buy price was at $3 last week, it was 2.50 earlier this week and is now 1.80.

Jonflyfish wrote:What I find most interesting is how people view the market relative to their financial commitment. Those who are long view rising prices as a testament to the deterioration of fiat currency, even though the move in silver has a multiple alpha. When prices decline (and precipitously during a mass exodus), it couldn't possibly be the fiat appreciation, but a total manipulation of the metal market.
Take it all with a grain of salt.

Agreed, if it was just fiat currency deterioration then why wasn't gold rising too by at least close to the same amount....or platinum for that matter? Fiat currency deterioration will happen, but over a longer period of time. Anything as rapid and singular as the silver rally has been had to be driven by more than just fiat currency deterioration. Folks can point to Zimbabwe and the Weimar republic of Germany all they want when pointing out rapid deterioration of fiat money, but they are no where near the size and scale of the US economy. It will be a long slow bleed with lots of volatility in between. There's very likely as much manipulation on the way down as there was on the way up. Manipulation is short term noise.

There are many nefarious forces in play here. I don't think the drop can be attributed to any one particular source or event, but there are certainly market makers acting in ways to influence the daily spot price.

One hears many things about the POS. The death (?) of bin Laden, the increase of COMEX silver margins, massive amounts being sold off at higher prices with the thought of flooding the market and then buying it back at a lower price and whatever the cause du'jour may be at any time you're trying to make sense out of this calculated mess.

I was mildly disturbed when the POS started to free fall. I thought the bottom would be in the $40 range, but I was obviously wrong there. Now that the drop is gaining in intensity, I say "Let 'er rip." I've been very close to buying a substantial amount, but have been in a wait-and-see mode trying to guess whatever will be the new bottom. Guess I actually wouldn't care too much if the POS dropped below $30/oz as this would be the greatest buying opportunity to come along in quite awhile.

This is a market that's being driven over the cliff by emotion, not fact. The fundamentals really haven't changed and inevitable rampant inflation is just as real as it was a week or two ago. I learned many years ago that I could take a punch and keep going in the right direction. That's still true. I do what I need to do in order to financially protect my family and me from the bums who try to control us.

Silver will never go to zero. Neither will my interest in acquiring more at the right time. I'm getting ready to back up the truck. If you listen carefully and follow the markets intelligently, I'll meet you at silver nirvana.

blackrabbit wrote:With the currently crashing commodities, metal hoarders everywhere want to know what will be the bottom?

i can hardly wait for a bottom in this market cme raised margin req 84% that will shake most spec out now we can build a bigger hoard