Anyone see the recent action in silver.....tanked to $16.50 in like one minute and then recovered the next. What gives???
sounds like what happened to the market when someone typed selling B (billion) instead of M (million) shares.
I think somebody was told to sell NOW! Little lull and he finally hit a buyer at 16.67...wonder if they are still employed???
Different markets, different time zones and different political situations... It will tank in a proper sense at some point, but I don't think that time will be this year.
I don't know, but could you imagine if you had an order set up on apmex and were all ready to confirm it, you see the current price go from 18.23 to 16.67 and are frantically hitting the confirm tab, only to have a slow connection or some other glitch? What if you were locked onto a monster box or 2, would you have had a grabber?
It would have been an opportunity indeed to buy... or cry (if you missed it / or if they had any policy to deny the order.)
Sometimes (at least in the case of the NYSE/NASDAQ) orders will be canceled if it is discovered that these dips are cause by errors. This happened to several orders during the micro crash in the stock market last week. Of course, if I had an order that was at the lower price and it was canceled, I'd be a little upset.
Honestly, I don't fret that stuff too much. I buy way to much finished silver in chain, rings and other jewelry where spot provides a basis for the price, but in the end the pennies don't really effect the bottom line in a drastic way. Now, if I had to liquidate it at spot I would take it in the shorts, in a bad kind of way.
I find that they removed the blip. This definitely points to a computer doing the selling. I would think if this transaction had entailed two real live individuals, they would have realized instantly that something was wrong, or wouldn't have made the trade in the first place. These computer trading programs have got to go!!!!!!!!
Why are you bumping this thread? ...amongst the other months old threads you've been trolling around bumping without adding anything new?
There really should be more outrage at the large investment firms using robots to do their trading. When the robot makes an investment decision that results in money, they leave it. When it initiates a flash crash, they erase it. That doesn't sound like a fair market to me. Does it to you? Where is the outrage?
'Outrage' is at an all time disadvantage. There's just so much to be outraged about that apathy has or may be setting in amongst the greater uninformed and unwilling to get informed.
with the advent of computer trading, came the concerted onslaught of price suppression and manipulation by those traders that learned that the faster and more complex the computer code. The easier it is to manipulate and suppress the prices of Gold and Silver. And as long as they kept the prices down they had the blessings of the government. What we are seeing now are the convulsions of the inability maintain the same measure of control of the prices of these two commodities since J.P. Morgan-Chase was caught red handed manipulating the Silver market in March of this year. Along with the disclosure during testimony of bank officials caught on tape and distributed around the world. That it is normal operating procedure to have only one ounce of physical Silver for every 100 ounces sold on paper in the derivatives market. It has been a wild ride ever since, And it is FAR from over. Just My Humble Opinion. Terry
