To: jdsteel
Why is silver and gold tanking?
15 posted on
08/04/2011 10:29:33 AM PDT by
Terry Mross
(I'll only vote for a SECOND party.)
To: Terry Mross
16 posted on
08/04/2011 10:35:01 AM PDT by
Errant
To: Terry Mross
Profit takers.
Gold will go back up and and hover between $1685-$1697.00 for about a week. Then around the 15th (maybe earlier) it WILL break $1700!
Just my opinion.
17 posted on
08/04/2011 10:40:54 AM PDT by
panaxanax
(0bama >>WORST PRESIDENT EVER.)
To: Terry Mross
DEFLATION! Coming to an economy near you. Bernanke failed the application of his studies
24 posted on
08/04/2011 11:09:15 AM PDT by
Why So Serious
(There is no cure for stupidity!!!)
To: Terry Mross
A major crash day like today, with everything down except bonds and USD, is 100% guaranteed to trigger margin calls in thousands of accounts. Most traders will meet these margin calls by liquidating lots of long positions, thus inducing sharp downmoves in mkts that are/were theoretically unaffected by the crash, i.e. gold and silver. You will note that gold and silver were higher earlier today; the selling began as traders began to see that they were undermargined and started liquidating positions.
Silver, being natively more volatile than gold, has been taking a bigger hit than gold, and will continue to do so for the duration of the crash scenario. Speaking historically, these types of sharp downmoves have a strong tendency to last either 2 or 5 trading days (3 and 4 days hardly ever come up for these types of moves; very odd indeed).
Good trading to you!
28 posted on
08/04/2011 11:24:44 AM PDT by
SAJ
(Zerobama -- a phony and a prick, therefore a dildo)
To: Terry Mross; Errant
Is it just coincidence that this is Shark Week on the Discovery Channel? I think not. My lunch has been ate by Wall Street. I know . . . I know . I should’ve sold stocks last week. I’m holding tight but this is stomach churning to see.
34 posted on
08/04/2011 11:47:47 AM PDT by
BipolarBob
(Yes I backed over the vampire but I swear I didn't see him in the rearview mirror.)
To: Terry Mross
Why is silver and gold tanking?
I’m not sure I’d say that being 1% below yesterday’s all-time record high closing price is “tanking.”
The other answer is that those markets are highly manipulated by big name firms on wall street that have political and financial reasons to want to artificially depress precious metals prices.
44 posted on
08/04/2011 1:14:53 PM PDT by
Atlas Sneezed
(Government borrowing is Taxation without Representation)
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