Silver CRASHING in early asian trading

[Cowlesy]

On Friday, a funny thing happened. Instead of gold underperforming and silver rocketing higher, silver limped along, and gold took off like a scared cat. Speculators/Day Traders rotating from silver to gold? That's what I did. Sold AGQ but didn't have the guts to buy UGL.

When weird stuff like that happens on my speculative stocks, I'd rather go to cash and pay the commissions, maybe miss a few points if it proves out I got cold feet, than get caught in a flash-crash with a leveraged ETF.

 

[mac_hine]

Shit. I bought 30 oz on Friday.

 

[cubical]

It's already back over 44... this is bullshit, im so pissed. I hope it holds down enough overnight to trigger a bunch of stops when US markets open and drive the price down after open.

Are you wanting to buy the miners? You can buy at bullion direct or apmex now and lock in the prices.

 

[cubical]

Shit. I bought 30 oz on Friday.

30 isn't enough to get upset over. you are down a bit over 100 bucks. Not a big deal. you should look at this as a buying op if you are in it for the long run. It may go down another 10 bucks, but if you are holding for years, it won't matter that much imo.

 

[Jordan]

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

 

[Michael P]

Are you wanting to buy the miners? You can buy at bullion direct or apmex now and lock in the prices.

I have a ton of physical. If I bought more at this point my wife would divorce me. Was hoping to make some quick FRN's via paper.

 

[tsai3904]

Why does everyone buy from APMEX? They charge one of the highest premiums I have seen online.

Compare this 1 oz uncirculated 2011 American Silver Eagle Coin:

APMEX - $6.99 over spot

Golden Eagle Coins - $6.02 over spot

Provident Metals - $6.02 over spot

This is just one example of one product but compare all the other products and you will consistently see a higher premium at APMEX compared to the other two sites. The shipping prices are all the same too.

 

[cary]

A huge down move right out of the weekend Globex gate, when volume typically is thinnest, is the mark of someone wanting to have the most dramatic effect from the least commitment of capital, not someone wanting to distribute into strength. In view of the relative slumber in other markets, this move in silver looks like a wash-and-rinse intended to run stops, flush weak hands, scare retail, and accumulate more.

 

[hazek]

The permabulls at zerohedge don't post this news.
If a similar move on the upside happened they would certainly do.

Is that so?

http://www.zerohedge.com/article/silver-plunges-china-slowdown-concerns-dollar-short-covering

 

[Michael P]

so i was trying to buy 10oz of silver over at Apmex because I cant help myself and they are charging me double quote. Its all messed up wtf?

 

[tsai3904]

Another example of APMEX's huge premiums.

Compare this 100 oz silver Engelhard bar:

APMEX - $1.99/oz over spot ($199)

Golden Eagle Coins - $1.24/oz over spot ($124)

Provident Metals - $1.19/oz over spot ($119)

 

[Seraphim]

I just payed off 1000$ in debt. I wish I had not. Lol.

 

[Travlyr]

All bubbles pop eventually...

How can money be in a bubble? I can understand the dot.com bubble... and the housing bubble... but silver or gold in a bubble? Please elaborate. Thanks.

 

[inibo]

Why does everyone buy from APMEX? They charge one of the highest premiums I have seen online.

Compare this 1 oz uncirculated 2011 American Silver Eagle Coin:

APMEX - $6.99 over spot

Golden Eagle Coins - $6.02 over spot

Provident Metals - $6.02 over spot

This is just one example of one product but compare all the other products and you will consistently see a higher premium at APMEX compared to the other two sites. The shipping prices are all the same too.

I don't buy Eagles, I buy rounds and bars. By the time I figure in shipping Apmex and Bullion Direct are within pennies of each other.

 

[Seraphim]

its already bouncing. up 50 cents in 10 secs lol

 

[2young2vote]

Question: Is the value of silver that we see on the internet the value of physical silver only? Would dips like this even be possible if ONLY physical silver could be traded?

 

[tsai3904]

I don't buy Eagles, I buy rounds and bars. By the time I figure in shipping Apmex and Bullion Direct are within pennies of each other.

I posted an example of a 100 oz bar between APMEX, Golden Eagle Coins, and Provident Metals. The difference in a 100 oz bar is over $75. Why buy from APMEX and Bullion Direct when you can get it cheaper elsewhere. I've bought from all three before and never had a problem with shipping/customer service with any of them, which is why I don't understand how APMEX can overcharge like that.

 

[Travlyr]

Damned manipulated markets... sheesh...

Current APMEX Buy Price - $47.20

Sell at $50.00 some kind of crash... damn.

 

[Michael P]

Question: Is the value of silver that we see on the internet the value of physical silver only? Would dips like this even be possible if ONLY physical silver could be traded?

No. That's why if your holding for the long run or expect a total dollar collapse you should have physical. Paper is for trading.

 

[Ray]

Slow down silver, you don't have to climb so quickly!