$ Silver $

silver took a stumble along with gold coppeer and platinum overnight

the euro and oil too tripped up

 

Silver

 

They seem to be building it in now...

 

Where do you think the bottom on this correction in the metals and specifically silver may fall?

 

with rates of 5% and rising to beat, and increased margin requirements across the board, the hedgies have no option but to seriously reduce their bets on the metals ponzi... expect a 30+% correction from the peaks over the next few weeks... as for silver, thats a by-product of copper production, therefore the more copper is produced, the more silver... dont expect demand to exceed supply there....

 

One of the Goldman Sachs metals strategists believes a 4 month correction is in the works. 30% of 15 as the most recent top in silver would imply 10-ish as the bottom. Seems plausible.

I would then think a resumption of the bull trend. We'll see.....

 

if GS said it, it *cannot* be true ...

 

holy smokes,

warehouse stocks down 3.6 million oz. yesterday...been awhile since I've seen that

 

hey daddyeaux - curious to know where you see that stat....if you have a sec

thanks

 

I have a futures broker that has future source real time, If you pick around the NYMEX site, it's there someplace in the metals section...

they may post it a day later

oopps...the number was as of today