It's gotta be just a correction. I mean, nothing fundamentally has changed. You still got India, china wanting gold/silver, and Iran is still out there, with that wacko lurking in the nuclear shadows.
"SAN FRANCISCO (MarketWatch) -- May silver dropped $1.822, or 12.6%, to $12.70 an ounce in New York, leading a broad decline among the metals futures. June gold sank $20, or 3.1%, to $616 an ounce after reaching a record $645 earlier in the session. "This originated in the silver pits," said Jon Nadler, an analyst at Kitco.com. There's "major profit-taking by funds that had loaded up ... in anticipation of the silver ETF," he said, and since the ETF still has not seen the light of day, "funds decided not to be pigs and took some money off the table." Day trading dream? Heh...can't get any of the servers to accept my orders. Everything is in chaos.
i like the pullback - but wtf is happening with the silver etf?? havent heard a word since they approved the listing..
whats the story with comex real-time, i have no comex real-time data past 7:50 this morning i would understand if the pits get so busy they can't update in a timely fashion, but it's been down since before the selloff
how convenient, what do you think happened to limit stop orders in the meantime? My advice to novice traders thinking about trading silver futures - stay clear and wait.
Oh, I put in stops, don't you worry, sir! Not using stops in this is like unprotected sex in the streets of Bangkok.