Amazing how so many here see each dip as a burst bubble and each rise as the final race to $100.
But you can bet the bank on this: It will take an act of God to save the dollar. When the dollar hits the downhill slopes at high speed, where is the money going to go? Another paper currency?
Paper money is teetering nearly everywhere. There are no guaranteed safe havens for assets, but you have to make some choices if you truly believe the dollar is dying (as I do). What are you going to do?
If silver drops to $20 (it won’t), I will be on the phone to Kitco in minutes. We will be lucky if our dollars are worth 75% of their current value in 18 months.
sell-off?
The Monex tick shows silver at nearly 48.00/oz.
this is an non issue.
Look at gold. it is continuing upward.
I believe silver will go beyond 50.00/oz. this week.
Protect yourselves from the decay of the American dollar , My Friends.
Selling puts, not buying. Should be some nice premiums in the morning.
Dumping a little volume into a soft market is a great way to clear out some stops. Same thing happened last week and we were fully recovered by Thursday. With the silver market being as tiny as it is, and the significant amount of attention being generated, volatility is going to be the keyword. Buy the dip!!!!! I now have a year end target on $108. Since I started buying silver at $7.42 / oz, I am not surprised by the actions of those that are late to the party.
I short-sold 50,000 ounces on Friday...(in a mock futures trading account...RATS!)
Advance knowledge of Osama announcement?
Driven down by capture of Osama. The probability of a terrorist act is perceived to have gone down greatly and thus the drop in prices for commodities.
I am sure some traders were privy to this news before the press release and President’s speech.