Given the huge up move in silver once it broke that the long-time high of $50, we could see a retest of the $50 zone. Naturally, new highs would end any discussion of a test lower.
Silver just crashed, suffering two of its biggest daily drops ever. Those erupted right out of a popular-speculative-mania topping, where silver way more than doubled in just a few months.
The short position in $SLV rose by a further 17.70%...up to 73.55 million shares sold short on the NYSE -- and 12.80 percent of the total SLV shares outstanding...a new record high.
Not until we make new highs could we call this bear market truly over. At this time, we’d have to take out $110 just to suggest possible new highs ahead.
Unsavory and speculative interests got into the markets for the metals. Silver, especially, got played. Similar to what happened to nickel a few years ago, and platinum and palladium...
After screaming through $100 and then $110, hitting an all-time high peak of $121.64, silver turned tail and collapsed almost 31% in a mere two days to $84.20, going through $100 again..
The Company is pleased to announce a non-brokered private placement of up to 4,687,500 units of the Company at a price of $0.70 per Unit for aggregate gross proceeds of up to $3,000,000.
