Why Did Silver Crash Last Night?

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cmill
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Why Did Silver Crash Last Night?

I made a video channel on my youtube channel this morning discussing why I thought silver crashed this morning, but I wanted to get you guys' thoughts on it as well.

Let me start by saying, I am not surprised because it happens so often, but it's a good exercise to think about the possible reasons when there wasn't much in the news that would affect the price.

If you are interested, shameless plug for my video:

CMill

Edited by admin on 11/08/2014 - 06:08

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Dr Durden
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So you could stack at a

So you could continue to stack at a discount. Everything else is immaterial and out of your control. 

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cmill
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Out of control, yes

Out of my control, yes. But it's a learning opportunity to "buy low sell high". Markets don't go down 2% for no good reason. What made Blythe choose last night over the night before or tomorrow night?

My physical position is obviously not something I want to sell and hope to buy back, but if I'm trading paper silver, or PSLV it would be nice to figure out what afternoons are best to sell so I can buy back more shares the following morning.

CMill

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Dr Durden
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Ok, well from what I've seen,

Ok, well from what I've seen, a silver takedown signals to gold. In other words, when the EE monkey's are out they start with silver and gold soon follows. Everyone knows the Kitco chart "look". I bet if you overlay day to day action over a year, this is exactly what you'll see on a predictable basis. Turd knows it. So, I suppose it could be said the ultimate score is a 2-for-1 starting with silver? 

Also, silver went parabolic for a few days (look at the hourly chart). We all know what happens after the wave hits the wall.

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Green Lantern
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September options expire on

September options expire on the 25th, ALOT of people, including myself, taking profit before expiration.   And thank God I did, the window at 44 wasn't open for too long.  

On the way up, there is just going to be alot of volatility for alot of reasons including the evil bankers.  It's gonna be a white knuckle ride for short term speculation. 

Anyway, thanks for inviting us on your ride to work.  Do you always have a camera in your car?  And those two horitzontal clouds to the left of the big sun, look alot like chem trails over Ohio. 

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Old Major
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more pain to come?

What are the odds we'll see a margin increase for gold soon?  More pain to the downside in silver prices if (when) that happens. 

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I didn't think about...

I didn't think about silver options expiration. Is that the last Friday of every month? Or just delivery months?

I don't always have a camera in my car, but I try to. I'm a CCW holder and it's a good idea i think to keep one handy incase I get pulled over. To many crooked cops now-a-days sadly.

@ OldMajor - I'm expecting a increase in gold margins before to long, and I'm sure silver will go down when that happens. Thats the easy tops to figure out. I struggle on the tops that become tops for no good reason. (although looking at the charts now it did seem overbought in the short term at $44)

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