Comment by hirako2000
Comment by hirako2000 a day ago
I don't see 30%. Maybe 12% from the very recent top, back to wherever it was just a few weeks ago.
Comment by hirako2000 a day ago
I don't see 30%. Maybe 12% from the very recent top, back to wherever it was just a few weeks ago.
>There has been significant recovery in after-hours trading
After hours has been flat. I think what you meant to say is it recovered a tiny bit from it's regular trading hours low. It's still down over 25% on the day.
yes, that is correct.
most people are long on silver and gold. who cares if there was a slight correction.
I bought the bulk of my silver in the $20-30 range and am still buying. I bought on the way up, I bought at $120, I'll buy at $85. The price at the time I buy really doesnt matter to me. Only when I sell will it matter.
I hope to cash out and buy ~150 acres of land with it to hunt on and live on.
Which was my point. Unless someone is heavily leveraged or happen to have bought at the very peak, what matters is the rend, not intra day phenomenons.
I don't mind getting down voted by leveraged traders who got liquidated.
For disclosure I think gold/silver at this point is way overvalued, just the symptom of what this article is all about.
Clearly very few people were buying at 120 which is why it fell back to 85. It's a highly volatile commodity. Commodities markets go through booms and busts all the time and you never even hear about most of them.
My bad. I placed a small buy at around $120, afterward it immediately tanked. Sorry folks!
Your point about commodities is broadly correct but that was a historic daily draw down in silver as well.
https://www.kitco.com/charts/silver
There has been significant recovery in after-hours trading, but check out that "day's range". The low point was around 1:40 PM EST.