This afternoon's meltdown was primarily due to weak-handed longs who have been hanging in, hoping for a short-squeeze, all heading for the exits at the first sign of trouble. Blythe of course, never wanting to miss an opportunity to push price lower, has joined in to create an exceptional opportunity. Here's your chart:
So, I ask you, what has changed?
Is the silver supply issue suddenly all better?
Did we suddenly discover a couple billion ounces laying around somewhere?
If Gadaffi has been assassinated, does this make the survival of other despotic, Middle Eastern regimes more or less likely?
Did the U.S. suddenly balance its budget?
Are all of the U.S. states suddenly solvent?
I could, of course, go on and on but I won't. Just buy the fucking dip. I did. TF
ps And look at this from Trader Dan. Note the comments regarding volume.
4:30 EST UPDATE:
Again, if you're going to exist in Turd's World, you have to get used to this crap. Shit happens....oooh, lets make that into a t-shirt: "Turd Happens". I like it!
At any rate, this chart speaks for itself.