I'm not sure what that was that i saw in SLW this morning, but all the bids dissappeared, completely vanished. Something isn't right.
Then after the bids completely vanished the silver price tanked
Chemaes, I did buy some shares at below 27 yesterday just to keep my emotions in check and holding mostly cash at this time. Hoping for a nice pullback to start accumulating again. Missing most of the last run and not wanting to chase price, left me sitting and watching the share price go up and up. I just opened the small position yesterday to subdue my urge to buy!
Can I ask what platform you use for trading since you have access to Level II info? And for which type of investing/investor do you think is essential to have access to that data?
Would you mind recommending any other PM stocks to keep an eye on and potentially trade in the near future?
Appreciate you guidance as always!
Didn't need to wipe myself, but did open a beer during the trading day, something I haven't done in a long time.
there's nothing wrong with the data.
This is the current market, the machines make the market, they control everything. When bids or asks are targetted the machines step back in milli second causing cascading effect.s.
In my case I was trading warrants with 3 months to expiry, in extremely toppy area. The machines don't want to pick up bids here, nor would a live market maker. I stopped trading those warrants yesterday.
Note to new people, when silver prices rise and SLW resists, watch out when silver prices start to decline. It will get ugly.
I bought back in January, so I'm only recently seeing actions - LOL. Nothing goes up forever, but it all depends on the time horizon you're playing. I kept on adding up until last month. I was tempted to add more today, but decided to chill out and see what happens next.
I was not able to log onto my active streamer from 7:45 till about 08:40 am, It may have been my connection or it may have been my on-line brokerage. Did anyone else have this kind of problem this morning. ?????
"I'm not sure what that was that i saw in SLW this morning, but all the bids dissappeared, completely vanished."
You fail to mention what broker you use, it may have just been a data glitch.
"Then after the bids completely vanished the silver price tanked"
It only dropped about .35, that is hardly 'tanking' by any stretch of the imagination. Silver is extremely Overbought, the most its been in a year. A correction is to be expected. You sound as though this was your first week trading.
I'm sure you'll be able to teach me a lot about silver...can't wait.
Silver dropping from 22.07 down to 21.53 is a 54 cent correction, and although it's still early, the math says it is projected to fall to 21.36 after this brief bounce.
Oh yeah, I've been trading for two weeks now, not one.