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Old 02-06-2012, 02:40 PM   #1
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Nice recovery today

I see that silver has made a nice recovery from this mornings drive by shooting. Silver got absolutely kicked in the nuts over about a four minute period this morning for 40 cents or so, then dribbled higher all day.
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Old 02-07-2012, 09:34 AM   #2
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Wow! Silver is really neurotic these last few days. Well, it's ......more neurotic than usual these past few days. Big hammer in london, then a climb back uphill in New York. Kind of weird, but I like it. If we keep building on this base, maybe we can lift it even higher.
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Old 02-07-2012, 09:45 AM   #3
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It's not just silver this is happening to. I have a rather huge holding in AGNC and for something that normally just lies there (and pays nice divvies) the action over the last few days has been nothing but insane. Had I had more guts this AM - wow.
Screenshot-9.jpg

Point being - it pays to keep perspective and not just concentrate a single thing. Whatever wackiness is not limited to PM's only just now.
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Old 02-07-2012, 10:14 AM   #4
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Looks like Bernanke is testifying before the Senate. I'm guessing the market is jumping based upon something he said.
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Old 02-07-2012, 01:24 PM   #5
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Originally Posted by PMBug View Post:
Looks like Bernanke is testifying before the Senate. I'm guessing the market is jumping based upon something he said.
No question about it. Bernanke Speaks, Goldbugs Rejoice
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Old 02-07-2012, 01:29 PM   #6
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well.. we are nearing an important pivot in the short term.. A close over 34.41 we should target 37 in short order.. otherwise, i think we head back to 31 over the next 2 weeks.
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Old 02-07-2012, 03:10 PM   #7
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Wow, I looked at that silver chart here and saw what happened about 1:30 PM. A nice little flash crash of some 70 cents, then they brought it right back up.

It's magic!
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Old 02-07-2012, 04:22 PM   #8
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I believe that is a glitch in the kitco chart. I don't see the same downspike in charts from other sources.
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