Sunday, May 1, 2011

Silver Opens Down 10%

Silver just opened in the futures market down 10%.

Bubble over.  Sell rallies. 

7 comments:

dennis said...

You called it. Bet this death of Osama drives it lower. Emotions in the market. Probably drive up stocks.

Anonymous said...

I disagree. The massive industrial demand for silver has not gone away. Also, there is only a tiny fraction of investors that have any silver at all. Also, there is a real shortage of silver. Physical silver, not paper contracts. When you hear cab drivers and shoe-shine boys talking about all the money they are making in precious metals, then you will know that we are in a bubble and it will be time to sell.

James m Dakin said...

Wasn't there just a story on Comex downgrading its on hand metal by 20% in Canada? Just saying.

Greg T. Jeffers said...

Anon:

Get a handle, nikname, or register.

Greg T. Jeffers said...

Look, go long Silver at these prices if you want to. This only the first attempt to end the bubble. There may well be some rallies in it.

My sense is that when the end comes, it comes swift and hard and that their ain't no silver shortage. But I am willing to change my mind on a dime.

dennis said...

Ya probably one of those sweet mercury dimes...

Greg T. Jeffers said...

Obama cannot win the election under any circumstances unless the $$ is revived. Even then, its only a little better than 50/50. This administration, like ALL administrations, gets nasty and mean come the year before the election...