Silver dropped 12% in just a matter of minutes in early Monday trading in Asia. Right now it is down 9.3%. We'll see if this turns out to be real or not but the decline shows on the chart as a vertical drop.
Wikinvest Wire
Sunday, May 01, 2011
Silver Price Collapse in Asian Trade
Silver dropped 12% in just a matter of minutes in early Monday trading in Asia. Right now it is down 9.3%. We'll see if this turns out to be real or not but the decline shows on the chart as a vertical drop.
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6 comments:
Of course, when it happens in minutes, the first thing that pops into my mind is "flash crash."
a little more info now with guesses of thin trading, we'll see if there is ever a solid explanation. there may never be one though.
Whether this is the "big one" or not; this is what happens in bubbles. Silver IS in a bubble. Valuation matters!
Thanks for keeping updated and informed.
Ken Faulkenberry
It is not overvaluation. Read this:http://tfmetalsreport.blogspot.com/2011_04_01_archive.html and this is why. I am holding and will buy more mining stock and physical as there is a backwwardation of silver. JPM and HSBC wants to raid the cheap shares and physical to cover. They are hurting badly. Today is holiday in some Asian countries.
We'll see about silver. A 10% correction would bring it down to where it began last week. I have heard about JPM being naked short. Perhaps, that's why it's risen.
Did osama unload his stockpile of silver before he was defrosted today? Is that why the big drop?
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