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Smack-down?
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Thread: Smack-down?

  1. #1
    Join Date
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    Default Smack-down?

    Silver started getting dangerously close to $50 again ($49.57) which appears to have triggered another big smack-down, sell-off, whatever you want to call it.

    Probably not going to be as bad as the one earlier this week - probably, but one never knows. Don't know what to make of the "scary stuff" Matthew was talking about.

    Hope I'm wrong, but I suspect we're going to see several repeats of what happened earlier this week before silver eventually builds up enough momentum to bust $50.

    I'd be glad to be wrong.

  2. #2
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    Apr 2011
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    Default

    I am frustrated with the downturns each time it hits in the $49 range.It seems like theres a concerted effort to keep it from reaching $50 but I don't think it can be held back much longer.Its going over $50 if not by tomorrow,then next week

  3. #3
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    Default

    Quote Originally Posted by Silvergal11 View Post
    I am frustrated with the downturns each time it hits in the $49 range.It seems like theres a concerted effort to keep it from reaching $50 but I don't think it can be held back much longer.Its going over $50 if not by tomorrow,then next week
    My gut reaction is that there's just a lot of people profit taking. Probably afraid $50 will trigger a big correction so trying to sell ahead of time. The irony of it is, by selling they're creating a correction! Maybe this is a good thing - shake out all the nervous nellies before $50 then when if eventually hits, there won't be enough of 'em left to create a correction.

  4. #4
    Join Date
    Feb 2011
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    Default

    The correction will have happened just under fifty. Something strange is afoot; there's no reason for the economic outlook to weaken, stocks to go up, dollar to go down, silver to struggle. Whatever. Hang on.

  5. #5
    Join Date
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    Fly-over country, South Dakota. The heart of the USA
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    Default

    Same type of situation as around $30. Remember how we went up to/ just over/ back below and flirted for months from early December til mid February before we broke over and stayed over $30?
    Weeks or days will replace months in our current state of bumping off a decade (the 50's), then we will be clear to hit the 60s in another few months.
    Keep buying the dips. Look at the 5 or 10 year charts at kitcosilver.com and see how tiny that TANKING from 20 to 10 is compared to the movements we are seeing now.
    In a year or so the blips around 50 will look just as small.
    Buy the dips, ignore the drips, and as always....
    I smell......
    The Quickening!!!
    JesterJay


    Quote Originally Posted by Silvergal11 View Post
    I am frustrated with the downturns each time it hits in the $49 range.It seems like theres a concerted effort to keep it from reaching $50 but I don't think it can be held back much longer.Its going over $50 if not by tomorrow,then next week
    Last edited by JesterJay; 28th April 2011 at 12:55. Reason: succinctiosity applied
    If you don't GOT it, You don't GET it!

  6. #6
    Join Date
    Sep 2008
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    Default

    Fellow Silver buffs. Do not be frustrated. The pattern has been smack downs in the afternoon, back up after US market close. Lets see if it happens that way again. Shows how desparate they are. The smack downs use to take weeks, months, a year to recover from. This is getting fun to watch. Your phsical silver in hand is worth more than we know. Have I told you guys lately that I love you. Not you rodgers. Fellow silver buffs.

  7. #7
    Join Date
    Apr 2010
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    3,669

    Default

    Like a bad smell Roger will just not go away.

  8. #8
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    Default

    Quote Originally Posted by gollumthegreat View Post
    Like a bad smell Roger will just not go away.
    I actually almost didn't even start this thread because I knew it would be like a red flag to the troll - shows you how pathetic things have become.

  9. #9
    Join Date
    Mar 2011
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    Default

    As I've said before, I believe it's greedy Traders and their Greedy Clients; who are pissed off that they don't control the Silver market any more,because such a vast amount of people outside are now buying. So every so often, they dump Millions of $ or worth of silver; the price drops one or two dollars and the Bums buy it back, making millions every time they do it. They are already making Mega Bucks over the general increase in Silver prices,just like the rest of us; but of course that is never enough for these people and they have to milk everything for every last drop. I just wish that when they dumped their Silver, somebody else bought it; before they got the chance to buy it back. But of course,you just know that they've got some scam going; that allows them to get it back before anybody else gets the chance to buy it. We are still recovering from a Mega recession, cause by a Bunch of Arsehole Bankers; who thought they knew it all, with their inflated Ego's and Pay Cheques. So they've shifted their focus onto somewhere else, where they can get a free ride..................God save me from F***ing EXPERTS.

  10. #10
    Join Date
    Oct 2008
    Posts
    346

    Default

    Smack down courtesy of JP Morgan and HSBC, as they are going to lose billions and billions of dollars when it hits the $55-$60 range via their naked shorting. Its going to happen, sooner or later and then they will either default or get bailed out by the Fed which taxpayers will foot the bill.

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