Re: Silver
in response to
by
posted on
Feb 24, 2011 06:22PM
We may not make much money, but we sure have a lot of fun!
I have been making a mistake in my posts saying expiry was on the 28th, this is the first day of delivery or when the money has to be deposited for delivery.
Today was option expiry, third thursday of the month, hence the extra heavy aggressive action, we will see with the open interest to see how many longs they flushed but it seems they removed a quite few from in the money.
normally after expiry the price begins moving back up within days.
The one thing that scares me is that just as metals may start to break out again the general equities get hit for 10% which will hit the metals again[possibly].
The s&p has been levitating since august, above the 50 day for 180 days or something, only twice in history i think, i also think it is being levitated, because last time i looked the insiders of the dow and others were selling to buys of 50 to 1. Don't know who is buying.
They could have the correction most are waiting for and have gold and silver removed from breakout mode.
These are helpful sites so i don't clutter the board anymore.
http://www.traderdannorcini.blogspot.com/
http://tfmetalsreport.blogspot.com/