Silver is dropping fast

Down $3.18 yesterday.......A minor bump, or a major correction?


Coin value calculations use the 10:00 PM EDT silver price for May 01, 2011:
Silver $44.74/oz DOWN 3.18

 

Log in or Sign up to hide this ad.

I guess we will have to wait and see but it is probably just a correction because of the fact silver raced upwards in value way to fast. It will probably level out and then slowly (hopefully) continue it's climb.

 

Early Monday movement, as usual. I wouldn't get too excited unless it dropped below $40 and stayed.

 

Seems to be going back up. As are the other metals.

 

It's not dropping so fast now!:dead-horse:

 

I don't get it.

Now Coinflation says this:

Coin value calculations use the 11:15 AM EDT silver price for May 02, 2011:
Silver $47.27/oz DOWN 0.67


So, I guess the earlier report was wrong.....I dunno

 

http://www.kitco.com/charts/livesilver.html

This will give you a nice idea of what is happening, Bob.

If you want a more advanced and in-depth look, learn to read candlestick charts and check this out;

http://freeserv.dukascopy.com/chart/?ql=334

 

It's like a yo-yo. Was at a coin show yesteday where a bullion buyer was paying 32.50 X face on 90%. When I saw the price dropping 10% so soon after, I was glad I did not buy any. Look for $60 an ounce by June 15.

 

I think that's a pipe dream... but it's a nice one. That would mean the chunk of silver I want to sell would buy me a MS64 RD 1909-S VDB...

 

Anyone know is there any option or ETF I could buy that would multiply my money if it did hit such a target price without the risk of margin calls?

 

Big rewards if you guess right, no accountability if you guess wrong? I think the answer you're looking for is "become a large financial institution."

 

If you buy ETF options or the ETF stock in a cash account ( non-margin ) brokerage account there would be no margin call for you. Accounts are non-margin unless you sign a paper asking for margin.Margin is using brokerage money ( at a %) to increase the number of shares you can hold or short).Even with a non-margin account , you could lose if you guess wrong, but the rules wouldn't change during the time held.

Jim

 

If we only knew! I have been holding onto silver and still buying silver coins in hopes that it will continue to increase. I have read a few blogs and opinions on the silver market that it really is a guessing game. I can only hope that it keeps going up. At which time I will hold on to my "Beauties" and sell the ugly ducks.

 

Imagine what the price of silver would be now, if the dollar had held or actually got stronger, rather than dropping.
$40 or so?