Silver is getting whacked this afternoon (July 19th)

[jim4silver]

Down almost 1.50 in a short time. I wonder what is going on?

I read on a couple of sites that some believe a debt ceiling deal is in the works and it is causing some big players to sell and take their short term profits.

We'll have to see. I still want it to go under $30 for a short time.

Jim

 

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[usandthem]

It's nice to know that your PM's are worth more than you paid for it. However, I'm still in the "aquisition phase" of my investing so lower prices means more in "the pile" for me.

 

[oneeye]

Down almost 1.50 in a short time. I wonder what is going on?

I read on a couple of sites that some believe a debt ceiling deal is in the works and it is causing some big players to sell and take their short term profits.

We'll have to see. I still want it to go under $30 for a short time.

Jim

A debt ceiling "deal" will cause prices to come down in the short term, but the prices will come right back once everyone realizes how bad the "deal" really is. This crew will do nothing to fix the problem of too much debt and too much spending. The rest of the world will figure this out quicker than the sheep here though.
Dan

 

[Marchas45]

I agree with Dan wait for the Asian markets to open and it will probably go up again, they have no faith in the dollar. That's where the rise started last night and will probably happen again.