Saturday, August 18, 2007

A Dollar Down For Silver

Dollar down days for silver are not unheard of but they are rare and tend to come after big move ups. This drop did not come after a big move up which marks it it out as unusual but not worrying. We know increasingly now how the hedge funds and other distressed funds scrambling for margin call cash liquidated en masse across the board.

It was a massacre of the innocents.

Once they hit the sell buttons others stop losses were triggered and the flood tides opened until opportunistic buyers stepped in.

We list the top 23 silver stocks which have withstood this subprime shock the best, there are one or two surprises I will tell you. I will post this to subscribers tomorrow.

Gold did well and held its 200 day moving average. The bottom may be in but do no expect an explosive bull surge to begin right away!


Blogger Page48 said...

If you turn a precious metals stock chart upside down, you'll get an idea of what a massive bull surge might look like. I tried it with a chart of ECU and it looks positively robust, almost like a safe haven.

10:56 PM  

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