Silver CRASHING in early asian trading

[Seraphim]

The reason why I am so bullish on silver and gold...is not the amount it goes up necessarily, but the incredible stong support lines they put up. It drops, smart money moves in and buys physical on the dipped price, and it contributes to sling shot prices back up posting a solid to great week AFTER it dips 4$ off the bell on monday morning.





QUOTE=Ray;3241059]Slow down silver, you don't have to climb so quickly![/QUOTE]

 

[mac_hine]

It's coming back. Nothing to see here.

 

[PeacePlan]

If it does a reversal and actually ends going up it would be hugely bullish.. I don't expect that........... We have to see where it is on NY open?

 

[Michael P]

yeah 45.20 now... unreal

 

[Seraphim]

Additionally,

If the Comex defaults - and it is stretched VERY thin in relation to it's bullion holdings 60-1 or so for gold, and 100-1 for silver.

The price of physical would hit 1000$ CDN, USD, AUD...Chance of USD becoming confetti. Gold, 12,000$...

The Yen may become confetti sooner.

Or the Pound.


The euro actually has the least weakness - for confetti currencies that is. China is now backing the Euro in a rather substancial manner - and the Ruble for that matter.


The USD is losing strength VERY quickly. It is a polically calculated maneuvre.

A powerful, productive and honest American Middle Class can be re-established through the use of honest money - anywhere really.

Quite frankly, look globally - most middle class populations are accumulating physical gold and silver like there`s no tomorrow. It is being planned - perhaps subconsciously..to establish some sort of monetary link to gold in silver...NO CAPITAL GAINS TAX OR GOLD AND SILVER...or anything for that matter .

It`s already been established that the USD has a plan of MINIMUM 4 times devaluation until the year 2018 or so to inflate the USD to make the debt more manageable but forcing a condition of AWEFUL STAGFLATION and debt for a decade...that is the plan and the real likelyhood for America until 2020 or so - that`s the best case scenario for America.

OUCH.

Buy gold. Buy silver. All physical. Grow some food.

LOL.

Not much diff in Canada.

PEACE

 

[RonPaulGetsIt]

last gasp at a crash before new all time highs?

my prediction is crash is a major fail and we hit new all time highs this week.

comex default this year?

 

[libertybrewcity]

3 Weird Things About Tonight's Huge Silver Selloff

http://www.businessinsider.com/why-is-silver-falling-2011-5

Silver plunges more than 10% in early Asia trade

http://www.marketwatch.com/story/si...rly-asia-trade-2011-05-01-1939320?siteid=bnbh

 

[Seraphim]

I love roller coasters.

Silver truly fascinates me. All of it`s applications.


Hilarious market. The volatility is great. Money to be made. Real money.

Silver? It can only purify water, conduct electricity on an elite level...historic money - can't be printed or digitized into existence.

Watch out for unbacked paper claims with the name SILVER on it however .

 

[cubical]

Somewhere out there an option trader is licking his lips: http://blogs.forbes.com/greatspecul...mmodity-meltdown-paved-in-silver-put-options/

I believe that guy put the trade on when silver was lower than it is now. I still believe he is down on the trade.

 

[Agorism]

That's not crashing.

 

[Seraphim]

Yea exactly, I agree. Look at the long term chart. It puts up resistance on a consistent basis as well. BTFD.

That's not crashing.

 

[WilliamC]

Congratulations to anyone who managed to snag silver at $43/oz!

I wish I had that kind of power...

What is the minimum order for a futures contract anyway, 1000 ozs?

And you still have to wait several months to take physical delivery?

Amazing, by the time I make it to a coin shop it will be above 50!

 

[cubical]

Haha, just made a quick 12% on the money I put into Oanda. Granted it wasn't on much, but I am glad I got something out of this crash. Maybe it will stay down tomorrow morning.

 

[Seraphim]

With futures you leverage yourself in a big way. Huge profits, but your margins (your up front deposit/debt) can easily get wiped out. It's not for the faint hearted and it is not for...people who are not learned in the market.

It sucks, here in Canada you must have 300K in accrued wealth to your name in order to join the futures contract market. SHITTY REGULATION.

Congratulations to anyone who managed to snag silver at $43/oz!

I wish I had that kind of power...

What is the minimum order for a futures contract anyway, 1000 ozs?

And you still have to wait several months to take physical delivery?

Amazing, by the time I make it to a coin shop it will be above 50!

 

[Travlyr]

That's not crashing.

Yeah... not doubt. A crash would mean that you could actually buy it for a bunch less today than yesterday. I'm a buyer. Anybody that wants to sell their Silver Eagles for $45 ... PM me.

 

[cubical]

Yeah... not doubt. A crash would mean that you could actually buy it for a bunch less today than yesterday. I'm a buyer. Anybody that wants to sell their Silver Eagles for $45 ... PM me.

No no, sell to me 45.50

 

[Carson]

The silver used for the wedding has been cashed in?

 

[Michael P]

so Bolivia officially announced today that they are NOT nationalizing silver mines only raising royalties slightly. PAAS and CDE will remain in control of their mines. I wonder if this has anything to do with the pullback since production will not decrease & the the fact that they were nationalizing was already priced in (to PAAS anyways)?

 

[Seraphim]

yeah exactly, the bull market in precious metals is VERY similar to the outburst of fiat money creation - 50$ silver? You aint seen nothin'.

The silver used for the wedding has been cashed in?

 

[Michael P]

....and ZH already had that story. Damn that site is F'ing awesome.