did u just see that??

No, this is good!!

http://news.yahoo.com/s/ap/us_bin_laden

 

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post of the month

 

Reports say Bin Laden has been dead for a week. I don't think the news leaked out and affected the PM market.

 

I don't think it's a "correction" yet. Rather profit taking coupled with hedging and short sales. More of a manipulation by some of the larger holders. Of course with computer trading programs, sell orders are placed once the price falls a bit. I do imagine the trend will reverse shortly. Frankly, I haven't seen anythin in the economic picture that has changed which might affect the PM prices, long term except for continued upward pressure.

gary

 

I think the boost will be short-lived. Killing that POS shouldn't realistically help the dollar. It will be back to business as usual sooner than you think.

 

It already is, gold at $1570 currently....

 

Percentage wise, gold was unaffected. It's headed to new highs.

Silver however is making investors feel like this.

[video=youtube;_W2NWTRy1zA]http://www.youtube.com/watch?v=_W2NWTRy1zA[/video]

 

Watching it yesterday, it was so blatant that insider information was happening. I heard on the radio this morning about those leaks.

I'm sure the big boys likely made a fortune on the fleeting drop. Wonder who lost?

It's why I think of these markets--including stocks--as one big casino, with a house (insider) advantage. Right this minute, it's as if it didn't happen, if you watch the US markets.

 

the worst part- no one will go to prison

 

Its a correction, it will never hit 50, its going to drop below 40 blah blah blah. Its down a whole of a few bucks. Why are you folks so absolutely desperate for silver to be valued like tin???????

 

Speaking for myself, I am short-term bear-ish on silver but I am long-term bullish on silver (and gold). When something, like silver, goes up 83% in 2010 and then goes up another 50% in 2011, that will make me short-term bear-ish on silver meaning that I expect it to go down very soon. It will go down more than the $4 down day we saw yesterday in my opinion. However, long-term, nothing has changed with the negative fundamentals of the U.S. dollar and the financial state of the U.S. gov't. Those two things alone IMO will keep silver (and gold) to continue to go up long term and silver will eventually hit (and surpass) $50. In the short-term (2011 ONLY), silver will NOT hit $50 and instead it will continue to go down and will more than likely break $40 on the downside. The $4 "correction" is just the beginning in my opinion and I see more downside for silver coming especially entering the traditionally weak season for gold and silver.

It is not me "desperately" wanting to see silver valued like tin or anything else but I am just seeing it as something that ran up too far too fast and it will go down and it will go down much more than that $4 "correction" that occurred yesterday. I just call it as I see it. $50 is the resistence level and I do not think that it will hit that $50 after it has gone up 83% in 2010 and is up another 50% in 2011. Besides, it is still a small and easily manipulated market that is manipulated by JPMorgan and others and they will continue to try to push the price down for as long as they can.

That is my take on silver for 2011. I am NOT an expert. I do not claim to be an expert. This just my gut feeling speaking to me. I do not have anything to back this up with. I am not a TA analyst or a chart expert and those things might disagree with my gut feeling but I am sticking to what I said about silver in the short term because I feel that I will be right. I am just a silver art bar collector. Nothing more nothing less.

Either way, it is a win-win situation for me as far as I am concerned. If my gut feeling ends up being wrong and silver does surpass $50, then I win because I own physical silver (in the form of 1-oz silver art bars) and it just means that my silver art bar collection has gone up in $ value on the metal content. If my gut feeling is right and silver does NOT hit $50 in 2011 and instead it continues to go down and breaks $40 on the downside, then I can (hopefully) buy the silver art bars that are on my silver art bar wish list at the local coin shop or local coin show for a lower price (if .999 generic silver premiums are reasonable).

 

Well said totally agree....I think this is the part where PM's exhale......they will inhale again.....

=)

 

I think 1970 Silver Art and Fools_gold are correct in their statements here. As said, if silver does continue to drop, it will provide an excellent opportunity to buy. This being in the short term as mentioned. I to believe that looking at the long term, silver has a bright future. As for myself, right or wrong, I'm holding and not going to panic and sell what I have now.

 

Probability of manipulation, highly likely. Correlation with OBL announcement, uncanny. Whistleblowers have already been sounding the horn for a while though. Bart Chilton seems like he's trying to do his part, but who wants to listen? Manipulation can only be successful for as long as the house of cards stands, and every time it occurs the foundation gets weaker. I'm long on PM's until sound fiscal policy rears its head. These bumps in the road are just going to rattle the fiat out of my pocket.

 

This is just a chance to buy at a short term discount, which I did.

 

I wish I was able to find any silver art bars that I was looking for at the local dealer at this lower price but I came away empty handed because my local dealer did not have much of any silver available in his shop. A lot more people are buying silver now than even a year ago.

 

You know as long as the government keeps printing more money, silver will eventually go back up. Would you cancel any of the orders you currently have for $45+ on collector silver bullion? Being limited in production, it may never be obtainable again, or would you just ride it out and wait for the up swing to return? You could be making money elsewhere during the down time. But you may not get the luck of the draw obtaining it the second time.

 

I like the way you think! I am ready to start loading the car..