HEAVY MARGIN DEBT SELLING Leveraged Silver ETF Down over $25 (AGQ)
HEAVY MARGIN DEBT SELLING! Leveraged Silver ETF Down over $26 (AGQ)
Silver Market Commentary
Silver Stocks Get Crushed AGQ ProShares Ultra Silver was down as low as $170 before recovering $5 to $175.52. The previous close on the AGQ was $202.388 and is currently trading down $27.
The (SLV) Silver ETF Silver prices dove over 6% on September 22, 2011 taking the iShares Silver Trust (SLV) taking it down to $35.39, SLV is currently trading at $36.05 down $2.50 from it's previous close of $38.56 as "margin debt selling" hit the markets as world wide markets FEAR kicked in and global equities sold off in a big way.
Stocks moved sharply lower at the start of trading on Thursday, extending the substantial downward move seen in the previous session. The major averages all slid firmly into negative territory, with the Dow dropping to its lowest intraday level in a month.
In the past few minutes, the major averages have seen some further downside, hitting new lows for the young session. The Dow is down 356.46 points or 3.2 percent at 10,768.38, the Nasdaq is down 76.15 points or 3 percent at 2,462.04 and the S&P 500 is down 35.60 points or 3.1 percent at 1,131.16.
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