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And Now, The Commodity Snapback
Earlier we predicted that following the carbon copy replica of last week's two day crash the likely outcome is another follow through surge to the upside, which will likely be tempered with another barrage of margin hikes to punish speculators daring to not put their money in massively overvalued stocks. Sure enough, the first part of the prediction comes true (see chart below), as the most recent overnight wipeout in gold, silver and crude is now a distant memory. Next stop for WTI: $100. As for what time today's margin hike will come, just keep hitting F5 on the CME Advisory Notices page.
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They need to keep the market up till next friday...
Why is Friday so important per se? So we can close out the week with the USD #winning?
Happy hour nationwide.
Commodity smack down can happen tomorrow, (Friday the 13th) to appear as though, the politicians made it happen by grilling the oil CEO's. Kabuki theater of course. BUT..... it will be a practical joke on us.
Black Friday. Fucking brilliant! Can I work the mouth of the Bernanke sock puppet?
I think they know they did enough damage with the CME margin changes and dollar prop job. There is no doubt in my mind they are now giving emergency loans out to the hedgies and banks they blew up to avoid counter party risk issues. They learned very quickly that you cannot isolate and target liquidity one market.
Blowback Bitchez!
Emergency loans. LMAO. They will monetize all their loses.
comedic commodity smack down
kabuki the 13th
BiCHeZ
Please, keep the sale going, the truck isn't fully loaded yet. Crush it tomorrow, I dare ya!
0 leverage bitchezzz.
Quit putting it on sale when I'm passed out pricks.
Winning.
By that you must mean you BTFD.
There is the Granny indicator (Buy SLV @ peak) and the Financial Talking Head indicator (Dollar gonna Rally).
I'm making a market on margin hikes.
I've been playing a game since tuesday. If there is a margin hike, I smoke an L. I've been high since tuesday.
I hope you got a big stash. Tommy Chong probably couldn't keep the pace of this game.
LOL
Funniest excuse to get high I've ever heard. Where I come from waking up is the only excuse you ever need. :>)
Wake up to some BCBud !
http://www.gardenscure.com/420/attachments/smoke-reports/262103d1230929708-bc-bud-depot-god-bud-img_2900.jpg
That is absolutely terrifying.
That's all I need, I'm in, off for a walk in the woods shortly
Global, you're a bit of alright! All you need is some beers in a backpack, a happy dog, and make sure you bring water for the dog. I take my Golden Retriever out hiking in the woods all the time, did it last night. next month: Big Sur!!
I know you can't judge a book by its cover, but really, that does, in fact, look unhealthy.
that is some beautiful looking bud.
the only silver I ever unloaded was in a trade for half-bag Aurora Indica.
Stuff floors me for hours :-)
that is a true underground economy. silver for herb, lol the pirates heart lives on.
For Silver...eh!
Like they say...
You can't smoke it!
Reckon the trade in the near future is going to be 1 oz. cheeba for 1 oz. silba.
It actually looks like an alien plant monster out of the original "Star Trek".
It appears to be holding so much THC that it's high on itself. :>)
So good you can just put your nose up close to your monitor and...
'scratch and sniff'
The local growers here about have taken to using bears as guards.
http://www.bbc.co.uk/news/world-us-canada-11020965
http://farm2.static.flickr.com/1337/1370979064_13f5e7ca22.jpg
First the silver bears,
Now the weed bears
You might need some grass!
Silver has been holding just below 35.5 since 1:40pm to 2:10pm, now moving down. I guess some desks are front running on some rule change already.
Or that simply they will need to pump and dump intraday to create condition for margin hike.
My mother hiked my margins once.... Once
settle down francis.
LOL! Best comment on this thread.
I love POMO's.
Filtered or unfiltered?
Real (Wall Street) men prefer unfiltered. :>)
I'll never forget the day decades ago when my dad and I walked into the store and he asked for a pack of Camels. The lady handed him the 'new" filtered Camel's. My dad looked at her like she had just challenged his manhood.....because in his mind she had.
The rothchilds have stolen so much wealth.
How does it feel, people, to taking that wealth ?
Slingshot B!tchez
I'm praying for a margin hike or two tonight...got me some USO putzzzz bitchezzzz
Yeah, I got a few out-of-money puts which are working out nicely. Thanks CME tards!
Gives me more ammo on the flip side to double down on silver when it is cheap.
rollercoasters suck, but they sure are fun when their over.
I'm slightly less than hopeful for the rollar coaster corrolation to hold in the end.
In the past 24 hours, silver spot price hit a high of 35.8975 and a low of 32.3125. Now back to 35.32. Crazy times.
Dennis Gartman just on Business News Network (BNN) said CME was correct to raise margin limits on Silver as they did. He knows various members and knows that they are doing their best to maintain orderly markets.
Why does anybody pay for let alone listen to this Bozo?
I emailed that asshole years ago when he said gold would "never trade above 500 Euro's" (currently 1050). He tried to deny it, but I had the goods on him. He is a lying POS.
He has no idea about where silver is going. Gold either.
BOP,
I like your style!
Margin hikes work untill they don't.
I wonder how long it will take them to realize that 80's trick don't work against a global attack from the speculators :)
Like they always said: PUT AT LEAST 5% OF YOU FINANCE IN PM'S!
That is possible when you count the 100X hedged silver as real.
but if everybody takes delivery... that makes PM's to go up X100
NERO'S IN THE HOUSE BITCHEZ!!
Another fine example of "price stability" - brought to you compliments of the Federal Reserve and Uncle Ben Shalom.
Just means margins need to be hiked more.
Indulge me -
Fed will finish up QE2 w/ approx. $90B flips in May and $100B in June?
But Treasury is goin to be constrained on issuance due to debt ceiling?
What will Fed be buying up then? Will they clean out the PD's and leave them Treasury free? Continued buying w/ constricted supply...shouldn't that push yield down over the next couple of months?
And then, a Debt ceiling approval plus absence of QE3 would seem to make for one hell of a snap back from potentially sub 3% 10yr in the next month to 4%+++ by July???
Is this what Gross and Rogers are implying?
someone bot a 1mil+ block of TBT
Someone sold a 1MN block of TBT:)
TD's copying my posts.
You should tell your mom.
Post of the Day.
I was looking at the price of crude over the past 5 days. Is a 5% swing on every single day normal? Seems like it wouldn't be...
Everything about this "market" is abnormal. This is part of the inherient instability that occurs when nations transition from Free Market Capitalism to Planned Economy.
US banksters turning to radical socialism?:) Thats called Freedom¡
Us Bailouts = aspirire for a Cancer called Debt (MuniBondss) and Real Estate Prices (still high)
Deleverage and Recap in financials hasnt finished yet.
Abby Someone...
http://www.youtube.com/watch?v=dQ_pKqiB5Rg&feature=related
<i>Is a 5% swing on every single day normal?</i>
This is your "price stability", compliments of the Federal Reserve.
Just another short squ(ee)ze. I'm sittin tight my levels are in place. I'll trade smalls off my bigs.
roller coaster time all through up till QE ends...then the fun begins.
Exactly when it ends? tia
shhh! Pisani is about to tell me what the important thing is...
"The important thing is, there's a general consensus that everything we're seeing is in line with expectations."
Amirite?
haha... Bob? That you?
No, but I can't escape hearing his repetitious delivery in my head.
"For more, visit Trader Talk at CNBS.com. How's things over at the Nasdaq..."
Crazy thing - Every time they squeeze the balloon, then let go, the air moves back where it was !
(until the balloon pops)
These margin hikes on commodities are about as effective as placing orange traffic cones in front of steamrollers.
This is all QEn prep-work. Relax.
How much time do they need to release???
Counter started!
WTI staring down 100 yet again.
Each margin hike is adding a dose of Flubber to the bounce back.
Where's momofaded? I want to hear some more about genius Bernanke and his sure-fire inflation control mechanism.
Momofader May 12 2011- 'Gas will be down to $2.50 within a month'...OMFG! :D
The RainbowTrader just released his new line of consumer products, his flagship t-shirt is the 'I "heart' The Bernank' available in pocket T, babydoll nightie or black hoodie.
I'm sure he has the whitest teeth the Bernank ever came across
What if momofaded, rainbow, and Meth are all the same guy. What if that guy is The Bernanke?
Gotta love this article. Straight to the point, "manipulations trying to boost stock market by killing forex and future markets."
You can't kill F/X. You however, can kill a currency. There are 2 sides to a trade (always)!
If Silver closes within the body of yesterday's candle, then what you have is a bullish pierceing, which makes a breakout back through the 50 DMA likely - possibly even the 25 DMA. This is one of the most critical closes you will ever see.
I wouldn't put too much faith in the technicals given the distortion of the margin hikes.
Funny thing about technicals - at least some of the time - is that they often indicate an impending unanticipated event.
But if you can't tell me what that event is (other than in hindsight)...
And they allow Blythe to paint the tape, anticipating the unanticipatable.
these set-ups for the bullish piercing are wondrous, indeed!
In other news. Facebook launches goldman cia type operation against google.
http://www.thedailybeast.com/blogs-and-stories/2011-05-12/facebook-buste...
Mustn't go that way! Mustn't hurt the Precious!
Well, at least things are getting better in the ME! Which means gas prices will head back down again, no doubt...
http://www.nytimes.com/2011/05/13/world/middleeast/13egypt.html?partner=rss&emc=rss
...well, shit.
Hooray! Helmets and billy clubs, and certainly cheap gas Im sure!
Puss in boots vs Pinocchio
Any opinions on todays disconnect between silver spot and AGQ & ZSL being both down?
Example: 2:16 pm spot = . -17% ....ZSL-6.50% ....AGQ -3.98% Was much worse earlier.
We will have to see where they settle, but to me it means I am all cash. Something is broken and I will not play today. This is the first time since the flash crash I've seen a leveraged long and leveraged short both down SO MUCH. Couple that thought with the fact that SLV is basically flat at time of this writing, and both ZSL and AGQ being down like this is inexplicable. Unfortunately I am in the crowd of undeserving people who won't know what happened until it is too late to trade on it. So, I'm out for today. Screw it.
If you hear anything, please let me know. I just checked Turd's blog and there's nothing on it there at this time.
Buy!...... wait, no, SELL! .......wait.........wtf
I'm laughing because that was literally what I was thinking all day today.
This market would be comedy gold...if I wasn't trying to actually make any money.
I feel your pain!
Too many FDs. Running out of powder
Margin Hikes == Display of Impotence.
Bernanke needs to play the ace up his sleeve soon...
Margin hikes, last acts of desperation.
Over the 'long term' 'they' will lose control over silver like they have gold.
Is snapback the new code name for dead cat bounce?
No. The new phrase is "Pulling a Calvin". :D
I wanna say there's some good 'ole time volatility but,,,,,NOT.
thought someone clever would bring up Glencore and their IPO. Can someone tie this in with the madness in commodities ? I hear they used 23 Banks as advisers etc to help with the float. That is every bank bar GS - the idea being none of the banks could critise the float as they would loose their fee? Crooked or clever?
That rubber dollar between all things physical and all things paper is starting to oscillate. How long before it snaps?
The Stock Markets are doing so well, You'd almost think we were in a booming recovery.
Exxon says oil barrel should be in $60-$70 range
always behind the curve, inspiring confidence.
The Edict on Maximum Prices (also known as the Edict on Prices or the Edict of Diocletian; in Latin Edictum De Pretiis Rerum Venalium) was issued in 301 by Roman Emperor Diocletian.
Expecting Obama to go "Full Diocletian Retard" and issue the death penalty for speculators (it's been tried before...)
Spectacular price control failure is coming. Get yer protective neck gear in place boyz.
"Full Diocletian Retard"
Now that's comedy gold.
Surely, Obummer's been told to never go Full Diocletian Retard. Then again, maybe not, as everyone might think he should've already known.
In 6 days, JP Morgue has 41% More Physical Silver...
http://dont-tread-on.me/in-6-days-jp-morgue-has-41-more-physical-silver/
+1 Nice article Silver Shield. 631,000 ounces is only 126 contracts. Blythe better start pedaling a little fucking faster.
As far as being hypocrites, they're just playing the game well (I detest them too, but you have to give credit where it's due). If you have to buy a lot of physical, you don't want to telegraph your move to the hoi polloi. Better to do a head fake or two. My favorite head fake so far was Soros' WSJ leaked rumor that he was dumping gold because he didn't fear DEFLATION. Talk about a head fake that made the lemmings completely confused.
falling in to the banksters and fraudsters reality trap
Well, you know Soros' investing mantra is, "identify the false trend and bet against it."
I take it he's figured out it's easier to create them instead of trying to identify others.
Vertical integration, FTW!
http://www.cmegroup.com/trading/energy/nymex-daily-reports.html
Go to silver stocks. How the hell does JP Morgan have more silver. IT makes no sense.
Ah, it's only paper my friends....
They will not be able to keep this thing under 35$ for longer than one... at most two months, unless they outrightly ban trade for certain parties. All they are doing is buying time, so that they can get to work themselves.... that, or they do not want to accept it, and will fight until the exchange is destroyed.
Well, if jp morgue is up 41% physical as another post indicates, that may explain a few things
If that is the case, then here we have the INVERSE of the hunt brothers case..... the regulators stepping in not to prevent cornering of a market, but instead to HELP cornering the market.
Yeah the big difference there is you had one buyers and an infinite number of sellers. Here we have lots of buyers and they don't read ZH or bang the kitco URL constantly (hint: they speak Mandarin).
But doesn't Comex accept SLV shares as "physical" now?
It's all being done to force you into bonds. Learn how to read MSM: "investors show no interest in risk assets", "commodities pullback on strong dollar". They need money flows into bonds. You, damn speculator, are not allowed to borrow money at ~ 0%, and bet with leverage on something that has any value (commodities).
A few more margin hikes and there will be no ammos left.
And once bond market is crashed, rates start to rise dramatically and this will ignite hyperinflation.
And one beautiful night we'll get currency devaluation, it can be the day/night when US$ stops to be the reserve currency. So even if you go to bed proud of yourself how much fiat you've made on latest futures trade, it will catch you with your pants down and sitting on lots of (nearly) worthless paper.
I'm changing my PM strategy from BTFD to BTFWYC (phyzz, whenever you can).
Interesting points about the bond market and inflation.
I reject the Banksters reality and substitute my own. Ah, all better.
Yep Morgue, Deutsche (and some others, can't recall) stood for delivery of lots of Platinum futures. They know exactly what's going on
What happened Wed. and this morning. Continuation of market manipulation by bullion banks. From Ed Casey, The Wrap. Link after quotes. Go to bottom of page if you want to read the article.
"I must admit that the Thursday trading day has not started off well. But it should be obvious to anyone that what we're seeing here is not free markets in action...and as Chris Powell saysad nauseam..."There are no markets anymore, only interventions.,,,,,Like I've said on many occasions, the bullion banks may use a smash-down in gold to drive silver lower...but that's only partly true at the moment, as gold hasn't suffered anywhere near the same fate as silver. But as I said above [for the umpteenth time] silver is the only metal that matters to JPMorgan at the moment.,,,All was pretty normal looking in the gold and silver market up until shortly before 3:00 p.m. Hong Kong time. Then the New York bullion banks showed up in the Globex market and pulled their bids in both metals in the thinly-traded market just before the London open. You will note that the silver price is their main objective...as it's already down a bit more than 4% as I write this. I'd guess that along with the bid-pulling, there's some shorting go on as well."
http://www.caseyresearch.com/gsd/home#subnode-section-in_short
I caused it. I called a top in everything this morning
Peak energy ---> Peak debt ---> PEAK Troll (top/bottom/bullshit) calls...
Hehehe.
I still think risk off is the new risk on.
And........here it goes back down........
unnnnnnwinnnnndd
So to conclude:
Economic numbers all sucked this morning. Particularly the claims numbers (paging janet yellen and the 3m jobs she promised QE3 would bring).
The 30 year auction was the worst in recent memory.
EIA cut the global oil demand this morning.
And Fukushima is a worse Nuclear disaster than Chernobyl (ot:Tokyo offices set at 82F this summer, ac only ABOVE this level.....long deodorant)
Yet markets up across the board. WHY?
Remember when all the margin increases didnt work on the Hunt Brothers the overlords just made all silver buy orders illegal. Could sell..but not buy... So the CME can basically decide where they would like the price to be and so it will be.
The commodities sell off is just starting...
What do you do if one of those supposed 'hedge' funds loses 20% of your money on a 5% pull back in the commodities market? You don't even call, you just send a redemption request. You don't bother to listen to some bullshit excuse about 5 standard deviation moves. They fucked up. They didn't hedge, and their risk management was shit.
Between unwinds from redemptions and reduced leverage from higher margin requirements, the complex is moving much lower over the next few months. You heard it here first.
lmfao!
you're too fucking much dude.
woe to anyone taking you seriously.
you must really get a kick out of fucking with people...
sadistic much?