Silver Price Correction

Ya I'm still hunting for that gold, can't get a claim till june to try a new spot I found.

Looks like some profit taking with mostly manipulation, margin requirements have been raised three times within the last few weeks. Coordinated "flash crashes" are popping up in both silver and gold, where they drop several dollars worth in less than a second. Coordinated computerized selling on low volume. I am curious to see if the physical market will sell at these lower prices. So far on ebay, the ASEs are still selling for $50. I assume they will have to come down but the premiums requested may be larger than what we are used to. I have seen APMEX raise the premiums of ASEs from $4 to $5.50 per coin. We may not see the physical metal market entirely match the paper market.

Watch the amount of copper produced. Both silver and gold can be obtained via copper processing. If copper demand decreases, less is produced, and less byproduct silver will be produced as well. China seems to be the primary copper buyer these days, so watching the Chinese copper imports should help describe part of what is happening to silver.

I'm not anti-PM at all. There is definitely a price point where Silver is a screaming bargain and should be acquired.

I don't honestly know whether that is $10, $20, or even $25 but I'm pretty sure $40 is too pricey.

I said it just before it hit $40, the bubble is going to burst. The next question is, Does this ball bounce!

Get your checkbooks ready, we're about to hit a great buying opportunity.

I'm going to say(AGAIN) that I have absolutely no idea what the future holds for silver. I do know, & have been repeatedly saying on many of the recent threads in this section that the current price rise was unsustainable. The reason I kept saying that was because many people were constantly cheering the price of silver on, mentioning that they were buying more as the price rose.

It's quite possible that in the long run silver will go higher....maybe much higher. However, IMO the market was getting overheated. On April 4th silver was at $38, by the 28th it was over $49. That's a 29% increase in 24 days. As I type this silver is around $40, a 17% decrease in under 6 days. I'm not surprised by this. What surprises me is that people thought a 26% rise over 24 days was normal & sustainable, while a 17% drop over 6 days was something that couldn't happen.

, all the analysts saying $100 an ounce or $300 an ounce by the end of this year are just quacks. Whenever there's a massive rally, normal people start taking what these quacks say seriously. (sorry, not trying to offend anybody)

The long term real value line for silver is around $24 right now. I think when the Fed pulls back its buying in June, we'll get down to around this level. In the mean time, anything above that is fair game.

Somehow that Quote struck me as "Familiar" ooh yeah if you change days to months then does it look like real estate!! GOOD Job trdhrdr007