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« Hecla Mining Company Up 6.94% Today | Main | What You Need to Know About Buying Silver Today »
Thursday
Feb242011

Silver prices ambushed by the Shorts

silver chart 25 Feb 2011.JPG


Every picture tells a story and as you can see silver prices were mugged just after the close of normal trading today as the shorts fight back. Its worth remembering that the big boys can see where all the stops are and once they force the price down to those levels the programmed selling kicks in causing more and more stops to be triggered on the way down. And so we witness a dramatic sell off, get use to it as we are most certainly in the volatile zone from now on in.

Keep your eye on the big picture and don't be shaken out of your core positions. If you are a trader and are nimble enough to get in and out then and have taken your profits today then fair enough. You now have to decide at what point you will re-enter this market which is not always easy to do.

Silver prices will trek back again and as we write, the market (New York Globex) the price is already improving, up 25 cents.


On the bright side there is this snippet from King World News:

With continued reports of booming sales and tightness in the silver market, today King World News interviewed Dave Madge director of sales at the Royal Canadian Mint.  When asked if the RCM is having trouble acquiring silver Madge responded, 

“Demand right now for silver is through the roof and it shows no signs of slowing at this point.  Sourcing silver is becoming very difficult.  We are competing with a great many players when it comes to purchasing silver and many of these players are bidding the price higher.”

So there we go.


Many thanks to those of you who have recently signed up for options trading service, its very much appreciated. Please be patient as we have a number of new trades on the drawing board and as you are aware the timing of them is critical to their success.

We now have 65 winners out of 67 options trades, or a 97.00% success rate If you have any questions regarding these trades please address them through their site where they will be handled quickly and I hope efficiently.

sk chart 25 Feb 2011.JPG


The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today, before we decide to cap membership.

Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.


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Reader Comments (4)

Team,

21:56 Thursday (EST) - Time in New York, NY, USA

Silver prices up $0.41 to $32.52 according to kitco.com

February 24, 2011 | Unregistered CommenterSilver Prices

Team,

0:38 Friday (EST) - Time in New York, NY, USA

Silver prices up $0.56 to $32.67 according to kitco.com

So we are creeping back again.

February 25, 2011 | Unregistered CommenterSilver Prices

Team,

2:08 Friday (EST) - Time in New York, NY, USA

Silver prices up $0.74 to $32.85 according to kitco.com

Moving nicely through Hong Kong.

About an hour before the London Stock Exchange opens

Lets hope they can keep it up.

February 25, 2011 | Unregistered CommenterSilver Prices

What does the team think of excellon resources, Thx in advance. Vincent

March 1, 2011 | Unregistered Commentervincent brenneman

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