marceau Posted March 17, 2008 Report Share Posted March 17, 2008 Now THAT'S what I call a smackdown. Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 Holy moly, that was the mother of all silver dumps there. I'm guessing now the pre-NY gap has been filled it will rally strongly. Would take a braver man than me to buy after that drop though. Lehman Brothers is toast - blackened and burnt - the Fed's nightmare is about to be realized. Down 37% pre-market. Link to comment Share on other sites More sharing options...
Bobsta Posted March 17, 2008 Report Share Posted March 17, 2008 Would take a braver man than me to buy after that drop though. Why? You're getting a bargain if you buy right now. Saving nearly 50c/oz compared to last night's price. I, through random luck, had a stop in that went and dumped £6k's worth at 2035. So I then bought £10k's worth back at 2025 ... now up to 2046, so happy with that. As I say, PURE random speculation - I shouldn't have had the stop in place and was quite shocked when I got the text through alerting me to the trade. Link to comment Share on other sites More sharing options...
Justin Thyme Posted March 17, 2008 Report Share Posted March 17, 2008 With MER and LEH collapsing this morning - it is of the utmost importance that they put the brakes on the Gold and Silver markets. The PPT must be up bright and early this morning. Thought it was profit-taking . . . Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 Why? You're getting a bargain if you buy right now. Saving nearly 50c/oz compared to last night's price. I, through random luck, had a stop in that went and dumped £15k's worth at 2035. So I then bought £25k's worth back at 2025 ... now up to 2046, so happy with that. As I say, PURE random speculation - I shouldn't have had the stop in place and was quite shocked when I got the text through alerting me to the trade. Actually, I did buy there. I somehow found my old cast iron balls and bought 200$ per cent at 2028. Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 Thought it was profit-taking . . . Today is going to one to remember. All the markets are all over the place. Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 Oh boy, this is too much. It's bouncing around like a tennis ball filled with frogs. Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 I knew I'd need my brown trousers this week. 100th post! Yay! Link to comment Share on other sites More sharing options...
El Dali Posted March 17, 2008 Report Share Posted March 17, 2008 Now THAT'S what I call a smackdown. This is horrible. I'm heavy Silver. Knew i'd need to sell it and bail into gold when the gold pricw pulled back. Only just logged into computer again and just seen Silver price. Who thinks this will regain some ground? Or is this a big sell-off? Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 I think those that thought they'd jump on the PM bandwagon for an easy ride have been taught a brutal lesson this morning. Never buy strength in gold or silver. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 The Cartel/PPT really had a go at it. Dude, gold suddenly looks cheap at $1,000. I need to buy more. Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 This is horrible. I'm heavy Silver. Knew i'd need to sell it and bail into gold when the gold pricw pulled back. Only just logged into computer again and just seen Silver price. Who thinks this will regain some ground? Or is this a big sell-off? The market at the moment has simply moved down to fill the gap created outside NY trading hours. Personally I can't see much more downside in the current environment, especially with a rate cut looming, and would expect quite a significant bounce. I could be wrong though, so don't bet the farm on it! Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 With MER and LEH collapsing this morning - it is of the utmost importance that they put the brakes on the Gold and Silver markets. The PPT must be up bright and early this morning. Couldn't agree more. Now that the banking system collapse becomes more evident, they need to make gold look less strong. But they seem to have a problem pushing it below $1,000. Oh well, they will have another go at it. Link to comment Share on other sites More sharing options...
drbubb Posted March 17, 2008 Report Share Posted March 17, 2008 Rule 48 being invoked Putting in all the stops today Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 Apparently silver lost 5.7% in just 3 hours there. Not the place to be if you don't like volatility, then. I love it! (And just 'lost' shed loads when measured in USD. ) Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 Couldn't agree more. Now that the banking system collapse becomes more evident, they need to make gold look less strong. But they seem to have a problem pushing it below $1,000. Oh well, they will have another go at it. In the face of all this selling gold looks so strong. Everything else has taken a severe haircut, yet gold holds above $1000, there must be a huge number of buyers out there at the moment. Link to comment Share on other sites More sharing options...
drbubb Posted March 17, 2008 Report Share Posted March 17, 2008 As we go through the day... Gold chart # 1 ................... : Gold chart # 2 ................... : .. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 Lehman Brothers is toast - blackened and burnt - the Fed's nightmare is about to be realized. Down 37% pre-market. Aye. LEHMAN BROS HLD(NYSE: LEH) 26.26 Down 13.00 (33.11%) as of 9:16AM ET on 03/17/08 Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 Silver taking it on the chin this morning. C'mon silver giddy up girl. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 This is horrible. I'm heavy Silver. Knew i'd need to sell it and bail into gold when the gold pricw pulled back. Only just logged into computer again and just seen Silver price. Who thinks this will regain some ground? Or is this a big sell-off? Ask yourself whether the fundamentals are still in place. If so, are you happy with the amount you have in it, or not? If yes, then keep it. I can assure you I just 'lost' quite a bit too. But I don't care, it will go higher at some stage. I am holding physical silver, and I am very happy with it. I am planning on buying more in the form of scrap coins. Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 Ask yourself whether the fundamentals are still in place. If so, are you happy with the amount you have in it, or not? If yes, then keep it. I can assure you I just 'lost' quite a bit too. But I don't care, it will go higher at some stage. I am holding physical silver, and I am very happy with it. I am planning on buying more in the form of scrap coins. Do you like McDonald Big Macs? I do. So when I go into Mickey D's I don't run out when the are on sale - I thank them very much and buy two. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 In the face of all this selling gold looks so strong. Everything else has taken a severe haircut, yet gold holds above $1000, there must be a huge number of buyers out there at the moment. If you're a big buyer and late to this market, days like today are perfect for you. You just buy ALL when offers fall below a certain level. If I was China, I would buy UNLIMITED at a level of, say, $800. Which does not mean I wouldn't buy now as well. The better I can hide my buying, the better for my exports. They must love days like today. Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 My trading platform has gone insane, like a fireworks display of blue and red. This is nothing compared to what will follow over the next few weeks, volatility is back! Link to comment Share on other sites More sharing options...
marceau Posted March 17, 2008 Report Share Posted March 17, 2008 Is it me, or is gold making $2 -$3 ticks up and down at the moment? A real battle by the look of things. Link to comment Share on other sites More sharing options...
Justin Thyme Posted March 17, 2008 Report Share Posted March 17, 2008 Ask yourself whether the fundamentals are still in place. If so, are you happy with the amount you have in it, or not? If yes, then keep it. I can assure you I just 'lost' quite a bit too. But I don't care, it will go higher at some stage. I am holding physical silver, and I am very happy with it. I am planning on buying more in the form of scrap coins. Spot on . . . Gold will be right back up to $1030+ within the next 48 hours. If I was a trader/institutional investor and I'd come in this morning and seen gold up $30, I'd be taking profits too. The fundamentals are crystal clear and no amount of manipulation can hold this bull for long Link to comment Share on other sites More sharing options...
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