Saturday, December 25, 2010

Silver Flash Crash?

Did we witness a "Flash Crash" in silver on 23 Dec during trading on the NY NYMEX?

I imagine many silver future traders (especially with long side trades) my have set stop loss positions at around $29/oz prior to the 23rd and then went on holidays or went to make preparations for Christmas safe in the thought "I don't have to watch the market today, it is a quiet time of year, anyway even if it tanks a $1 or so I have my profits locked in at $29/oz".

I wonder how many traders got sold out via stop losses and margin calls when silver mysteriously crashed below $29/oz for a few minutes before rebounding strongly?

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