Is probably what you are thinking...?
Who cares. Seriously, who gives a shit. I say this because I have been screaming to get people long at $15, NOT $50. I too made these silly mistakes of chasing charts early in my trading career. These quick, swift, moves are intended to 'shake' the newly acquired longs at 'tops' or "the highs."
This is textbook. The reason for it? Who gives a flying fuck. Buy it. Dont be up all night trying to figure out what happened. There is nothing to figure out. Blythe is caught, got her cronies to liquidate some accounts, timed nicely with some bogus China/Bolivia data, and you have a $5 selloff in 7 minutes.
If you are wondering why the online dealers are still showing friday pricing, its simple. Brokers are not open, and if they have people buy at $42 now, when the markets opens tomorrow morning at $46 I presume they will have to cover the spread on that. Fat fucking chance they will do that. So wait till 9:30, hopefully by then spot is at $4.89/oz. The world has waited for this and they are responding by buying physical.
Its a great equation we have going for us right now. Every time silver sells off, people line up to buy it. Some bubble eh? Dont listen to the donkey's tomorrow on CNBC, the bubble has popped stories will be running rampant. Just remember who is trying to buy back your Eagles at $3 above spot...
Textbook. Onward and upward we go.