Silver getting crushed today

don't you just love stability ...

 

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wow, really ?
you'd think this was like Junk Bonds.


Provident's best price for an ASE is their 2013s at $19.25 over spot at $16.88. Their prices drop slowly when the spot is downwards trendings, but quick to rise for best windfall profits.

 

Looks like it's going to be another crazy day for silver

 

I wonder if the fall is because of the dow hitting 20,000?

 

Could be, It's gone back up a little. I was hoping for a nice drop because I am buying some more silver tomorrow.

 

You can bet that the Dow hitting 20,000 had a lot of effect on metals prices. Money switching from metals to stocks. Curiously, Treasury prices also a bit up today. 10-year right at 2.5 percent.

But one day does not a market make.

 

Is that the first time the Market has hit the 20,000 number?

 

Yes. But it is just a number. Sometimes, a breakthrough like that will mean a continued upswing. Sometimes it will bring on profit-taking selling.

An interesting wild card is whether or not big investors will hold off selling while waiting to see what Washington does with capital gains taxes under the new administration.

 

PMs almost always move in the opposite direction of stocks. The dollar is down .06% compared to the euro. A rising market is fueled by inflation. Today the Dow is up by .06% and Pms are down by .06%. If you own equal amounts of PMs and Stocks, you break even. Most people own mostly stocks, so they win today. Some days the markets do the exact opposite or nothing at all, so watch the dollar to gage how Stocks and PMs will react to a strong or weak Dollar. These are only my personal observations over a substantial period of time. No different from what any investment firm does on an hourly basis.

 

"Prices are hitting record highs! BUY EVERYTHING!"

 

Just checked: silver is down a bit over 1 percent, gold is down a bit under 1 percent. In the grand scheme of things, that's not a great movement.

 

That's exactly the method prescribed for getting one's clock cleaned.

 

I did it! With today's dip I took advantage of the first time buyers offer from JM Bullion. 10oz of silver at spot. $16.20. Thanks Bman for the tip!

 

That's awesome man.

 

Beethoven's 9th Symphony, 4th movement. Now THAT'S a great movement.

 

Good morning ... what 'dat Silver doing this morning before the opening bell in the US ?? dumping of course ....

 

Could this be traders dumping PM for the rallying stock market?

 

Yea I see, Still not low enough for me. How about you bman33 ??

 

I was wondering if this is because of overnight dumping action the last 2 days?

 

DOW futures are only up +10, and Nasdaq +7.50 right now.
Nothing extravagant to support the 12 cent drop.
The world's stock markets are rallying in the past 24 hours for sure. So probably getting out of PMs for stocks.

Lately as the US Dollar has weakened it's taken PMs with it as the market thinks stocks have peaked. But then, how many times have they been wrong just for the market to continue it's avg trend ...