For perspective I don't think we could categorise a dollar drop in silver 'hard' by any historical comparison. If anything it's an absolute pillar of strength.
After every single meteoric rise silver has been smashed down in double quick time. Everyone knows it, everyone seems to be waiting for it. The rapid selloffs in stocks is therefore on the slightest sign of weakness as everyone wants to be the first in the selling queue for the big bargain buy back.
What I'm actually marvelling at is how strong the silver market is. There has been no selloff to speak of (yet?), everyone is still watching on a hair trigger but if no selloff occurs with the physical I get the feeling the market psychology will flip 180 degrees and the Ag price is just going to blow.
In this climate little or no drop in Ag = massive win. I mean in fell to $34.33 over night and has bounced back to $35.33 as of now, a mere dollar off its highs. Truly astounding actually.
Just my point of view, I'm as clueless as the rest of you.
