unreal ... silver broke through to the upside and then back down from $21.00 overnight while gold did not get to the magic $1000 level was this the top for the year made while I was asleep ? guess tomm NFP # @ 8:30am will give us clues to the answer
not sure I agree with a metals top since dollar peg countries are seeing black markets springing up and discounting the peg rate 10 - 20% middle eastern counties specifically...they cant tolerate this much longer .. something has to give and the vote is piling up , no bueno dollar
the dark side is winning today I am hedged flat and will await the events later today do not want to fight the BOTS when they play ping pong at olympic speed
Thanks daddyeaux for the link. The article was very interesting especially the below paragraph. It explains how and why majority of traders go wrong and lose money in trading:
you know what ? I always thought this stuff about "pulling the bids" was nonsense but early friday I saw it happening in both gold and silver gold dropped $27 and silver dropped 70 cents ... both in the span of one hour ( being it was a friday morning with thin volume pre comex open when it started and yes the euro and oil price were both under pressure at the time ... but still ) mining stocks also got hit pre NYSE open and into their first hour as well :eek:
saw this today and it made me chuckle http://news.silverseek.com/SilverSeek/1215547653.php -A quarter weighs about a fifth of an ounce. At todayâs silver price of around $18 per ounce, the 1963 quarter had the equivalent of todayâs $3.24 of silver in it. Thus, silver essentially buys the same amount of gasoline today that it did 45 years ago. - the author claims that in 1963 a gallon of gas cost 30 cents and we all know how much gas costs today
Silver's close today is extremely bullish, its highest in almost 4 months (since Mar 18). Only possible glitch is open interest which has not been increasing in a similar pace as gold. Maybe today's 50¢ rise will bring in some of the stragglers and open interest will get a bump.
just noticed this ... am trying to figure out why as they do say when and what - On July 11, 2008, Barclays Global Investors International, Inc., the sponsor of the registrant, issued a press release announcing a ten-for-one stock split of the shares of the registrant with a record date of July 21, 2008 and a distribution date of July 23, 2008. -
somewhere I read that SLV will trade options starting July 31 hopefully this is correct since I cant find the article anymore