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Scorp
05-02-2011, 10:27 AM
I would love to read your thoughts on why we saw that sudden drop in a few minutes when Asian Market opened.

My take is hedge funds and traders taking profits after a few days of sideward prices. Most probably computer triggered...

Or could it be a massive sale by a major entity? But who could possibly move the price that much unless it's a cartel which I sincerely doubt...

aybesee123
05-02-2011, 10:41 AM
I would love to read your thoughts on why we saw that sudden drop in a few minutes when Asian Market opened.

My take is hedge funds and traders taking profits after a few days of sideward prices. Most probably computer triggered...

Or could it be a massive sale by a major entity? But who could possibly move the price that much unless it's a cartel which I sincerely doubt...

Profit taking and trailing stops being triggered. The good news is the waterway should now be open for clear sailing. :D

derickonfire
05-02-2011, 10:51 AM
It wasn't Asia.. first off.

Moonstruck
05-02-2011, 10:57 AM
Oil is headed up and the US$ is going down. Big Ben, is not going to turn off the high speed printing presses any time soon.

Small markets, like silver are not that hard for the big players to push around. When the market tradeing is thin.

blitzdude
05-02-2011, 11:03 AM
Asia and London were closed yesterday/today, low volume good time for the shorts to pull it down. Dollar was strong on the initial Bin Laden news now it is back to tanking. Oh yeah the margin requirement thing at CBOT. Their attempts to take it down appear to be failing........

halfhunter
05-02-2011, 12:01 PM
It wasn't Asia.. first off.

Right . . . The only thing open at that time was the NY electronic market.

HH

PMStacker2011
05-02-2011, 12:03 PM
I would love to read your thoughts on why we saw that sudden drop in a few minutes when Asian Market opened.

My take is hedge funds and traders taking profits after a few days of sideward prices. Most probably computer triggered...

Or could it be a massive sale by a major entity? But who could possibly move the price that much unless it's a cartel which I sincerely doubt...

CME raised margin requirements. Its that simple.

http://www.goldalert.com/gold-price-falls-to-1550-as-silver-crashes/

Silver fell on the back of the CME Groupís decision to raise margin requirements yet again and on worries that a bubble was developing in goldís sister precious metal. Silver has gained 81% over the past three months, compared to an 18% rise in the gold price over the same time frame.

itsgavinc
05-02-2011, 12:46 PM
Profit taking and trailing stops being triggered. The good news is the waterway should now be open for clear sailing. :D

I wouldn't say that. What we experienced is part of the normal battle that SilVer fights. This 2011 silver had gone a while without being battle tested. Last week was a nice bout. And silver became stronger for it. This week will probably be the same. It's all about strength conditioning. :)

Normal and nothing to worry about? Absolutely.

Clear sailing? Absolutely not.