Nice recovery today

[ancona]

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.

 

[ancona]

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.

 

[DCFusor]

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.


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.

 

[pmbug]

Looks like Bernanke is testifying before the Senate. I'm guessing the market is jumping based upon something he said.

 

[Steven Douglas]

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

 

[DSAbug]

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.

 

[DoChenRollingBearing]

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!

 

[pmbug]

I believe that is a glitch in the kitco chart. I don't see the same downspike in charts from other sources.