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And Now For Today's Mini Silver Flash Crash: Same Time, Same Place

Tyler Durden's picture




 

Just like yesterday and the day before, 6:30pm is now the official precious metal "bang the afterhours" launch time. As we predicted minutes ago, silver just got taken to the cleaners on what is now an apparent attempt to push silver around in the no volume part of after hours trading, in the 6-7 pm no man's land. We expect an imminent rebound after this latest attempt to trigger stop losses, probably those around $40, fails. If it succeeds in pushing silver below $40 it is very possible that the metal can promptly trade down to the mid $30s as a result. And while banging the close has been investigated by the CFTC for years (resulting in some modest smacks on the wrist recently for the ex-Moore trader who did this with impunity), we are confident it won't be before 2015 that the CFTC's commissioners investigate this particularly odd behavior in silver and gold. By then it, of course, won't matter.

 

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Tue, 05/03/2011 - 18:50 | 1236134 Rynak
Rynak's picture

WHAT THE FUCK!!! That this is even tolerated is a joke.... they're not even trying anymore to hide what's going on! It's almost as if they want to let you know "WE CAN!"

Tue, 05/03/2011 - 18:56 | 1236168 Pepe
Pepe's picture

Absolutely agree, and not just with the silver issue; on every issue the message is we do it because we can. What are you gonna do about it? Well I guess that is going to have to be our decision

Tue, 05/03/2011 - 18:57 | 1236177 Xibalba
Xibalba's picture

Anyone heard from Bart Chilton?

Tue, 05/03/2011 - 19:02 | 1236205 Pepe
Pepe's picture

Last time I heard of him it was december 2010. You know, now that you mention it, if you put a beard on the man, lie him down and paint his forehead with red, he could easily look like someone I know....

Tue, 05/03/2011 - 19:12 | 1236231 Haywood Jablowme
Haywood Jablowme's picture

 

Shake that tree bitches.  So easy, it should probably be traded on the pinks...

 

Tue, 05/03/2011 - 19:40 | 1236313 TooBearish
TooBearish's picture

Bang de close bitch, bang it like you're riding Blythe doggie style!

Tue, 05/03/2011 - 20:59 | 1236528 disabledvet
disabledvet's picture

you scared her away you...big...bad...bear.  (Maybe she still likes to watch...er I mean...READ!  READ!)

Tue, 05/03/2011 - 19:42 | 1236311 rocker
rocker's picture

They cancel trades on a daily basis. They manipulate every day because the can. The market is broken. Nobody Cares! 

Tue, 05/03/2011 - 19:51 | 1236331 dlmaniac
dlmaniac's picture

Did you guys notice CFTC is no where to be found? HOHO. Corruption at its deepest.

Tue, 05/03/2011 - 20:58 | 1236534 disabledvet
disabledvet's picture

the Silver Surfer cared.

Tue, 05/03/2011 - 23:10 | 1236845 YouBetYourLife
YouBetYourLife's picture

For students of history, you're in luck!  You get to relive history, up close and personal, with a front row seat.

Today's feature:  The Fall of the Roman empire (redux).

Yes, this is what it was like when the mighty Roman empire collapsed due to its own greed, corruption and internal rot.  The rich and powerful not only were unaccountable to their fellow citizens, but were actually protected by the system that should have been prosecuting their crimes.

If I remember correctly, it didn't end well. . . eight centuries of darkness.   

Tue, 05/03/2011 - 23:27 | 1236899 FeralSerf
FeralSerf's picture

The tickets sure are fucking expensive lately.

Wed, 05/04/2011 - 03:04 | 1237200 Hook Line and S...
Hook Line and Sphincter's picture

Eight centuries of darkness is still better than eight eons of WWIII induced radioactivity. This time around there are those who have learned to split atoms and toy with scalar energy.

Wed, 05/04/2011 - 07:33 | 1237327 ArgentDawn
ArgentDawn's picture

Where do we sign up to be Visigoths?

Tue, 05/03/2011 - 21:04 | 1236541 sleepingbeauty
sleepingbeauty's picture

Could we not fight back ala anonymous. Millions of trades for small amounts all across the world.

Tue, 05/03/2011 - 22:28 | 1236729 angrybill
angrybill's picture

Anonymouse use a program (the LOIC) installed on the client machine that enables centralised command of those PCs to attack (flood) an interwebs target of choice.

 

What you're after is central command (of multiple trading accounts) to trade on an equivalent scale (downloads of the LOIC is in the millions)

 

Not knowing which sort of trading platforms (if any) could support this sort of account managment/coordination or trying to get this many people to hand over money to total strangers seems like a pretty tall order...

 

like an open source hedge fund or summin...?!?!

Wed, 05/04/2011 - 10:44 | 1238033 Doña K
Doña K's picture

Better yet, stay totally out of the markets and keep buying physical PM's on a small continuous fashion. Good opportunity silver at $40 or under. I am starting to buy again. 

Tue, 05/03/2011 - 18:58 | 1236180 augie
augie's picture

Actually i think it is "yes we can" not just simply "we can."

Tue, 05/03/2011 - 19:01 | 1236195 Dexter Morgan
Dexter Morgan's picture

Si se puede.

Tue, 05/03/2011 - 20:33 | 1236477 Mec-sick-o
Mec-sick-o's picture

¡Sí señor!

Tue, 05/03/2011 - 20:54 | 1236524 akak
akak's picture

Debe ser "Si podemos", verdad?

"Si se puede" es muy debil, y no precisamente lo equal de "Yes we can", yo creo.
Nunca lo he entendido, tengo que decir.

Tue, 05/03/2011 - 21:38 | 1236600 Mec-sick-o
Mec-sick-o's picture

You are near.

"Si podemos" implies "nosotros" (yes we can)=Sujeto Implícito.

"Si se puede" has no subject (yes can be), but only talker & listener know about who they speak about=Sujeto Tácito

http://lengua.laguia2000.com/gramatica/sujeto-tacito

 

Tue, 05/03/2011 - 22:10 | 1236689 msamour
msamour's picture

Aye Pedale! Vas tu ecrire en anglais ou quoi? Comment aime tu ca ne pas comprendre?

Wed, 05/04/2011 - 01:34 | 1237128 Mec-sick-o
Mec-sick-o's picture

Oui monsieur. Mea culpa, mea culpa est.

Wed, 05/04/2011 - 01:45 | 1237137 akak
akak's picture

Merde!  Combien langageaux parlez vous?

Tue, 05/03/2011 - 20:23 | 1236435 myTPisUSD
myTPisUSD's picture

Yes we (kicked the) can!

Tue, 05/03/2011 - 21:55 | 1236640 Mec-sick-o
Mec-sick-o's picture

+1*10qe(u$d)

Tue, 05/03/2011 - 18:59 | 1236182 DosZap
DosZap's picture

Rynak,

"It's almost as if they want to let you know "WE CAN!"

No they did, no almost to it.One day there will be a run on  new rope.

These fackers are almost equal to single cell protozoas.

Tue, 05/03/2011 - 19:25 | 1236266 Hugh G Rection
Hugh G Rection's picture

YES WE CON!

Tue, 05/03/2011 - 20:37 | 1236468 hpprinter000
hpprinter000's picture

calm down, read this http://thefront9.wordpress.com/2011/04/26/freak-out/ almost perfect prediction

Tue, 05/03/2011 - 20:50 | 1236508 JPDG
JPDG's picture

Anyone know any hackers in Anonymous?  We could use their help.

How about everyone sends the CFTC a flood of emails?

questions@cftc.gov

Tue, 05/03/2011 - 22:33 | 1236750 angrybill
angrybill's picture

Got IRC?

I believe it's AnonOps

else

4chan /b/

(good luck with that ;^)

Tue, 05/03/2011 - 23:04 | 1236838 mouthpiece
mouthpiece's picture

IRC is your best bet.  4chan is a joke/front page/recruitment tool to (not for or by) the [dis]organization, populated almost entirely by hangers-on and wannabes, the 1 million people who downloaded LOIC but have no idea who the real muscle of Anonymous is (which is an unknown number of hackers and hacker groups).  You used to be able to contact them almost directly on 420chan's /i/, but /i/ (stands for invasion, the forum formerly used to coordinate Anonymous' DDOS activities, long before Wikileaks and LOIC) became password-protected and located on a "secret" server about the time I stopped lurking at 420chan.

Try this link: http://search.mibbit.com/channels/AnonOps

Although, in reality, you are contacting a group of hacktivists that operate under the Anonymous umbrella.  Oldschool /i/ Anonymous people were a bunch of anarchist pranksters and troublemakers who trolled relentlessly and tried to destroy websites/people's lives in the name of "lulz".  "Anonymous" itself is an amorphous concept that anyone can use to do anything, as long as they can convince enough of the /b/ crowd to go along with it.

Wed, 05/04/2011 - 09:05 | 1237599 DrunkenMonkey
DrunkenMonkey's picture

And there are more /b/tards lurking here than you think.

Tue, 05/03/2011 - 21:00 | 1236530 NOTW777
NOTW777's picture

a chart that reflects the integrity of our markets

Tue, 05/03/2011 - 22:32 | 1236760 Ben Fleeced
Ben Fleeced's picture

Same Buy The F'in Dip time same buy the dip channel. I know my GenNexers. Read up on crazy azz biathc Popcorn 198---sumthin' and learn. 

A whoooaw.

And in the death,

as the last few corpses lay rotting in the slimey thoroughfare

...

 

Tue, 05/03/2011 - 18:44 | 1236135 e_goldstein
e_goldstein's picture

This is starting to look like a dip worth buying.

Tue, 05/03/2011 - 19:01 | 1236197 Tortfeasor
Tortfeasor's picture

Already missed it

Tue, 05/03/2011 - 19:02 | 1236203 InconvenientCou...
InconvenientCounterParty's picture

c'mon $35.

Tue, 05/03/2011 - 19:18 | 1236253 Turd Ferguson
Turd Ferguson's picture

e: give it another week or so

Tue, 05/03/2011 - 21:44 | 1236622 nmewn
nmewn's picture

Valued advice.

Tue, 05/03/2011 - 22:21 | 1236715 e_goldstein
e_goldstein's picture

Thanks, Turd. No reason to try to catch a falling knife.

Tue, 05/03/2011 - 18:55 | 1236136 bob_dabolina
bob_dabolina's picture

What's this talk about two silver prices? tmosely is convinced this has happened and doesn't think anyone can get silver close to spot, in fact he dared me today to try and pick up silver close to spot...it's rare if you are retail and pick up any PM directly @ the spot, that's how the business works. Every product is in stock but the 1 OZ 9/11 commemorative coins.

$2 over @ ampex is pretty standard; 500 or more @ $1 over spot.

http://www.apmex.com/Category/1202/1_oz_Silver_Rounds.aspx

Tue, 05/03/2011 - 18:58 | 1236179 Burnbright
Burnbright's picture

Umm i just looked and the cheapest rounds from apmex is 2.29 over spot. Eagles, maples, and phils are still 5 dollars over spot. Nice try.

Tue, 05/03/2011 - 19:11 | 1236188 bob_dabolina
bob_dabolina's picture

Oh...sorry.

I was off .29 cents. What the fuck ever, it's normal.

Not as many phils are minted that's why they are more expensive. I can find you collectible coins going for up in the hundreds but that's irregardless of supply/demand/comex defaulting.

Here, I found 1 OZ silver bars going for $360 over spot:

http://www.apmex.com/Category/525/Australian_Silver_Lunar_Series_1___1999_2010.aspx

Comex must have defaulted!

Tue, 05/03/2011 - 19:21 | 1236262 legal eagle
legal eagle's picture

Sir, might I have another!  Ha ha ha, you cant hurt me, got in too low!

Please, "irregardless" is not a word.  Irrespective, yes, regardless, yes.  Well, maybe in the tweet and text generation, not for us ol' timers.

Cheers,

Tue, 05/03/2011 - 19:30 | 1236273 bob_dabolina
bob_dabolina's picture

http://en.wikipedia.org/wiki/Irregardless

Evolution.

It appears in a wide range of dictionaries including: Webster's Third New International Dictionary of the English Language Unabridged (1961, repr. 2002)

Guess it just depends what dictionary you use.

But I thought this thread was about silver. I guess we can correct our grammar/syntax as well though, that's always a hoot of a time.

Tue, 05/03/2011 - 23:06 | 1236842 MachoMan
MachoMan's picture

All quoting a dictionary means that many people misuse the term...  it's a popularity contest more or less...  and, in this case, the popular term is incorrect.  At some point, without rules, we lose a language.

Tue, 05/03/2011 - 23:26 | 1236894 bob_dabolina
bob_dabolina's picture

Than why don't we all just speak latin?

Tue, 05/03/2011 - 23:41 | 1236956 Oh regional Indian
Oh regional Indian's picture

Because we lack the mental horsepower to speak clearly and with the deep conviction and clarity that any classic language demands.

English is a lose lose all the way down the rabbit hole.

ORI

Wed, 05/04/2011 - 03:12 | 1237201 Hook Line and S...
Hook Line and Sphincter's picture

English is the language of the con. Allowing for slippery semantics, and greasing the wheel of half-truth deceit.

Tue, 05/03/2011 - 19:55 | 1236345 Burnbright
Burnbright's picture

No its not normal. When I started buying bullion the premium on buying just 1 US eagle was .99 cents. Now its close to 8 dollars. 

 

Premiums are up over 400% for everything in less than 2 years. I wouldn't call that normal. Premiums for generic rounds were under 60 cents. 

Tue, 05/03/2011 - 20:30 | 1236434 bob_dabolina
bob_dabolina's picture

Ok? And when I started buying Pepsi I could get it for .25 a can.

Now in the vending machine it's @ $1.

There must be a shortage of Pepsi products and we should all rush out and buy every case of Pepsi because there won't be any Pepsi tomorrow morning.

How much does it cost to mine 1 ounce of silver?

Tue, 05/03/2011 - 20:32 | 1236467 akak
akak's picture

How much does it cost to mine 1 ounce of silver?

Instead of asking disingenuously misleading rhetorical questions, why don't you just cut to the chase and make your points directly already?

Tue, 05/03/2011 - 20:39 | 1236480 bob_dabolina
bob_dabolina's picture

WTF?

How is "How much does it cost to mine 1 ounce of silver?"

-disingenuous

-misleading

-or rhetorical

???

I forgot. You're acock. nvmd

Tue, 05/03/2011 - 20:58 | 1236527 akak
akak's picture

Sorry.  I meant to say "disingenuously leading questions" instead of "disingenuously misleading questions" --- but my point still stands.  And funny how you sound EXACTLY like MethMan and Dangertime, and a number of other former and current PM-bashers here, when you do that.

Tue, 05/03/2011 - 21:23 | 1236567 bob_dabolina
bob_dabolina's picture

Stop being an asshole. You're already acock, don't ass-to-mouth yourself. 

Tue, 05/03/2011 - 21:38 | 1236602 akak
akak's picture

Just about exactly the response I was expecting from you.

Wed, 05/04/2011 - 01:32 | 1237129 Mr Poopra
Mr Poopra's picture

At this point i'm suspicious they aren't just NSA bots endlessly typing a collection of douchey catchphrases based on classic "type A" personality types, amidst obsessed and frantic pm bashing.

Tue, 05/03/2011 - 22:57 | 1236818 Dangertime
Dangertime's picture

And you sound a lot like tmosley and eisley.

So what's your point bagholder?

Tue, 05/03/2011 - 23:44 | 1236960 Slewburger
Slewburger's picture

Nice avatar, did you and Methmouth break in the new Volkswagen by exchanging blowjobs?

 

Tue, 05/03/2011 - 20:47 | 1236501 Ricky Bobby
Ricky Bobby's picture

Fucking sock puppets come and sock puppets go.

Tue, 05/03/2011 - 21:35 | 1236599 Long-John-Silver
Long-John-Silver's picture

I've heard it only costs $5 to dig it out of the ground.

/sarc

Wed, 05/04/2011 - 00:04 | 1236989 floydian slip
floydian slip's picture

I bought a shovel at the hardware store today.  $19.95 before tax.

 

Wed, 05/04/2011 - 13:01 | 1238966 tekhneek
tekhneek's picture

Yeah. That's why I dig it up. I dig up 10oz bars at a time?

WTF people are retarded. $5 out of the ground. Get out of here.

Maybe though, you're on to something: http://www.fiverr.com/

Tue, 05/03/2011 - 21:59 | 1236653 trampstamp
trampstamp's picture

this long is hedging selling snow cones, which costs me .20 and sell it on the market between 3.25 - 4.50. Been doing it for 10 years here in hot Texas. Oh and loaded up on on silver inverse Friday. Come on man, you aren't the only guy that saw this correction coming man. The bears were in plane sight on Friday.  no loser here.

 

Tue, 05/03/2011 - 22:16 | 1236698 Burnbright
Burnbright's picture

That analogy doesn't work because pepsi isn't bought on a spread. You don't have an open market for pepsi that is traded in paper and a physical one traded. You're dumb.

Tue, 05/03/2011 - 23:31 | 1236918 OldPhart
OldPhart's picture

Yes they do.

HERE and HERE

Wed, 05/04/2011 - 00:38 | 1237039 Burnbright
Burnbright's picture

Eh no they don't. Pepsi, as in the product does not have a paper trading scheme, you linked the COMPANY. It is no where near the same thing. Stop trying to be a smart ass.

 

He was making an analogy to the cost of Soda increasing to the cost of the premium on bullion which is a retarded analogy. 

 

Lets break down why he is retarded shall we? Comparing the rising cost of pepsi would be analogous to the rising cost of silver, not the premium paid on silver, get it?

He tried to make my statement look dumb by creating a strawman argument that I believed the rising cost of anything was caused by scarcity, which isn't what I said at all, I alluded that the rising cost of premiums were signs of silver scarcity. Two very different things.

Fri, 05/06/2011 - 04:50 | 1246626 OldPhart
OldPhart's picture

"Smartass", I agree, and my links were lame, but one answers dumbasses with dumbass answers.  Otherwise they get confused and irritable.

Tue, 05/03/2011 - 21:56 | 1236641 RockyRacoon
RockyRacoon's picture

Irregardless  is considered nonstandard because of the two negative elements ir-  and -less.  It was probably formed on the analogy of such words as irrespective, irrelevant,  and irreparable.  Those who use it, including on occasion educated speakers, may do so from a desire to add emphasis. Irregardless  first appeared in the early 20th century and was perhaps popularized by its use in a comic radio program of the 1930s.

http://dictionary.reference.com/browse/irregardless

Wed, 05/04/2011 - 02:40 | 1237180 Urban Redneck
Urban Redneck's picture

Normal Market Physical Market:

BID $$$ SPOT $$$ ASK

Current Market:

SPOT $$$ BID $$$ ASK

The size of the bid/ask spread has expanded in the last couple months. 

The spread is still smaller for high volume orders (100 or 1000oz bars), if this changes then TSHTF. 

In the meantime spreads on quantities of reselleable smaller units (e.g. monster boxes) in some cases are bigger than the spreads on the individual coins in the monster box.

Hence - not a "Normal" market, but slightly more normal this week than last week

Tue, 05/03/2011 - 22:28 | 1236730 Missiondweller
Missiondweller's picture

What's more interesting is that they'll buy your silver eagles for over spot.

Tue, 05/03/2011 - 18:58 | 1236186 drink or die
drink or die's picture

Brick and mortar where I get my junk silver sells around 0.30 over spot, 100oz bars I get about $1.20 over.

Tue, 05/03/2011 - 23:14 | 1236860 mouthpiece
mouthpiece's picture

My friend found a pawn shop selling junk silver for about 25% under spot (old dimes and quarters).  Those are your best bet for cheap junk, many pawn shop owners don't know what they have, and think it's all collector value.  Takes some searching though.

Tue, 05/03/2011 - 19:46 | 1236319 tmosley
tmosley's picture

I didn't say it was new.  It has been this way since 2008.

COMEX deliverable bars SHOULD sell at spot.  But they don't.  They sell for .69 or .79 per oz over spot on APMEX right now.  That's a $700-$800 premium on a single bar!

When there is any divergence between COMEX deliverable bars and spot, there is something wrong.

But lots of people either don't want to see it, or don't want OTHERS to see it.

Tue, 05/03/2011 - 22:43 | 1236795 trav7777
trav7777's picture

so I take it that $60 is out for next week?

Tue, 05/03/2011 - 23:02 | 1236831 redpill
redpill's picture

Cuz you were short, right smart guy?

Tue, 05/03/2011 - 23:12 | 1236854 Dr. No
Dr. No's picture

Dude, slv was so overbought, I even bought a couple of puts last week. And I'm a casual amateur. I just didn't dare post about it sine everyone was silver crazed here.

Wed, 05/04/2011 - 00:29 | 1237030 bob_dabolina
bob_dabolina's picture

$49 is out for this week?

Wed, 05/04/2011 - 01:37 | 1237127 tmosley
tmosley's picture

The rules have been changed multiple times.  As such, sentiment has changed, and everyone will pile out of paper, and into physical.  Anyone who sold physical at $49 will not be able to get it back.  Anyone who bought physical at $49 will be sitting pretty in a few weeks, as people are once again paying $60+ dollars on Ebay for the stuff they got for quite a bit less than that.

It's funny how you accused me of losing people thousands of dollars over the last two days.  If people were investing at that rate based on my word, they would have started long before now.  Say they have lost $10,000 in the last two days, when silver is down 20% (for an even number).  That means they bought $50,000 worth of silver at the absolute peak, which lasted one day.  So, people are buying, based on my word, $50,000 of silver every single day.  Lets say they have done this for 200 days.  That means they have invested $10,000,000 in silver based on what I have told them (this is only in the last 200 days, remember).  The 200 day moving average is about $28, while the current spot price is about $42.  This means these guys have made $5,000,000 off of my calls.

That is with the assumption that I have caused them to lose "thousands" of dollars.  AND that is with the assumption that they were trading paper, which I expressly told them not to do.  If they bought physical, they have done even better, as premiums have EXPLODED.

Shall we end this idiocy here, or do I need to find the 1000 day moving average to show my online career score?

Wed, 05/04/2011 - 08:20 | 1237448 trav7777
trav7777's picture

that's funny, because golddealer.com seems to have 10, 100, and 1000 oz bars available.  Eagles, Leafs, Phils, you name it...in size.

WTF do you mean these people who sold physical won't be able to get it back?  There is NO SHORTAGE, you fucking liar.  If someone dumped 1000 oz at 49, they could buy it back RIGHT NOW for $8000 less!

You are the ultimate bullshitter and create nothing but bagholders everywhere.

And IF you had balls, you'd be a man!

Wed, 05/04/2011 - 10:14 | 1237881 tmosley
tmosley's picture

You are a fucking idiot.

They list everything they sell, not everything they have in stock.  Call them and ask if they have COMEX deliverable bars.  They don't.  They don't list how much of ANYTHING that they have in stock.  Only APMEX does that.

You still don't see how fucking stupid your little vendetta is.  You are losing any credibility you had for no reason other than ego and blind hatred.

For every dollar I have "lost" anyone in this correction, I have made them, or someone else $500 over the last 200 days alone.

I reiterate--you are a fucking idiot.

Tue, 05/03/2011 - 18:48 | 1236138 Strom
Strom's picture

Man, I would love it if silver would move down enough so that I could lower my cost basis...

Tue, 05/03/2011 - 19:45 | 1236325 tmosley
tmosley's picture

It would have to go down below $16 for me, including the premium.

I wouldn't mind that, assuming I could actually get metal at that price.  I don't think its going to happen.

Tue, 05/03/2011 - 20:07 | 1236381 Axenolith
Axenolith's picture

I got a sizeable chunk of mine for about $5.25-$6.25\oz on eBay as rolls of 90%.  If plague wipes out 50% of the human race, we might see that again...

Tue, 05/03/2011 - 20:13 | 1236402 Strom
Strom's picture

Yeah, mine's in the low 20s. Just wishful thinking...

Wed, 05/04/2011 - 00:42 | 1237066 XPolemic
XPolemic's picture

Tell me about it. If only they could sustain these dips for a couple of days instead of 3 hours. If Squiddy could just get it down to 30 bucks, then I would go down to my bullion dealer and buy that 15kg bar.

Tue, 05/03/2011 - 18:45 | 1236139 PaperBear
PaperBear's picture

There is fraud everywhere you look

Tue, 05/03/2011 - 19:09 | 1236230 Pepe
Pepe's picture

Oh, it is only a dream..the American nightmare

Tue, 05/03/2011 - 18:49 | 1236144 egdeh orez
egdeh orez's picture

Maybe JPM is triggering those stop-losses so that it could cover their shorts.

Tue, 05/03/2011 - 18:53 | 1236157 Quintus
Quintus's picture

You don't say?

Tue, 05/03/2011 - 18:59 | 1236183 nmewn
nmewn's picture

;-)

Or covering their strohs.

Wed, 05/04/2011 - 02:48 | 1237183 Urban Redneck
Urban Redneck's picture

Short covering isn't the only trade that benefits by triggering stop loss selling.  Big players looking to enter the market can seek a better e entry point by knocking the price down a bit first. 

Tue, 05/03/2011 - 18:51 | 1236158 DoChenRollingBearing
DoChenRollingBearing's picture

The Bearing is pleased that he changed some of his silver into gold yesterday, although the amount was small.

...

Silver has ALWAYS been very volatile.

But, if there is anything to all the conspiracy stuff, it will all come out in due time.  And all Hell will break out.

Tue, 05/03/2011 - 18:53 | 1236166 Rynak
Rynak's picture

Oh, come on! Two big fat fingers, nicely pointed at the middle of low-volume night, two days in a row? You think that is the "market"? I'd rather start believing in santa again.

Tue, 05/03/2011 - 19:01 | 1236194 Hephasteus
Hephasteus's picture

I hear santa is running fukishima's radiation reports and handling photoshop for the whitehouse/pentagon.

Tue, 05/03/2011 - 19:13 | 1236237 morkov
morkov's picture

LOL

Wed, 05/04/2011 - 03:42 | 1237215 geekgrrl
geekgrrl's picture

A much more plausible explanation... :-)

Tue, 05/03/2011 - 19:04 | 1236214 disabledvet
disabledvet's picture

it is?  "what do broken trades in silver look like?"

Tue, 05/03/2011 - 19:18 | 1236247 DosZap
DosZap's picture

Do,

"Silver has ALWAYS been very volatile."

That's why it's known as the DEVILS METAL.

Make a killing, or cause one.

Tue, 05/03/2011 - 21:56 | 1236651 RockyRacoon
RockyRacoon's picture

Yo, DCRB, did you see my reply to your question about PMs a little while back?

on Tue, 04/26/2011 - 23:49
#1210139

Tue, 05/03/2011 - 22:44 | 1236797 DoChenRollingBearing
DoChenRollingBearing's picture

No, Rocky I missed it...       :(

Still I did do the trade even thought the terms were not too good.  I would have thought the coin dealer would have LOVED to get all those ASEs and given me a better deal.  Maybe next time I do the extra driving to the bigger dealer, who always charges a bit lower premium on AGEs...

Still, I am happy I got part way out of silver with the GSR at around 35.

I still have plenty (of oz) of silver, but my gold is worth much more.

Tue, 05/03/2011 - 23:50 | 1236974 RockyRacoon
RockyRacoon's picture

Was the info helpful?  I presume you can click on the comment number and still find the post.  There are some useful links for you.

Wed, 05/04/2011 - 03:52 | 1237219 Stormdancer
Stormdancer's picture

Rocky if the info you posted was relevant to ratio trading I'd certainly be interested in seeing it.  I did a silver for gold trade on the 15th and plan to do many more so I'm always interested in any info/ideas I can get on the topic.

Your link didn't work for me...I ended up at a "page not found" message.  If you could copy/paste your original message here I'd appreciate it :)

Wed, 05/04/2011 - 15:19 | 1239732 RockyRacoon
RockyRacoon's picture

Here's the link that worked for me.  Give it a shot.

http://www.zerohedge.com/article/gold-glitters-amid-economic-woes-reuter...

Tue, 05/03/2011 - 18:51 | 1236160 Dolemite
Dolemite's picture

They had been after hrs banging the snp all the way up as it is up 10-20 many many times b4 equities open at 9:30 and then shit just sits there or melts up further....

 

If the real demand is there, in time it will go up. This too shall pass

You shouldnt be in silver (phiz) as a way to "make money" Be in it to keep what you have earned and hedge your normal day to day affairs

 

btw.... another good reason to buy silver... looks like they are adding another stock to the Netflix, Chipotle, Salesforce, Baidu, Apple mania index

http://www.bloomberg.com/news/2011-05-03/renren-seeks-double-facebook-s-valuation-for-china-social-networking-ipo.html

Tue, 05/03/2011 - 18:52 | 1236162 MiguelitoRaton
MiguelitoRaton's picture

Running the stops. The inmates are running the asylum.

Tue, 05/03/2011 - 18:54 | 1236165 akak
akak's picture

"It's all OK folks ... nothing to see here .... move along, move along .... these aren't the dips you're looking for ....."

Tue, 05/03/2011 - 19:03 | 1236199 augie
augie's picture

You don't need to see his identification....these aren't the droids you're looking for... move along...

Tue, 05/03/2011 - 23:37 | 1236933 SilverFish
SilverFish's picture

I think everyone is aware that akak was posting a variation on the Star Wars quote. No need for you to point it out with the original, Captain Obvious.

 

Are you 12 or something?

Tue, 05/03/2011 - 18:56 | 1236169 johngaltfla
johngaltfla's picture

Count on a retest of the $32 area. Then new highs. Then all hell breaks loose courtesy of the Bipolar Bernank.

Tue, 05/03/2011 - 18:54 | 1236171 Quinvarius
Quinvarius's picture

CNBC has everyone with an etrade account short silver.  When this blows over, silver is going up huge and fast.

Tue, 05/03/2011 - 19:26 | 1236271 Guy Fawkes
Guy Fawkes's picture

Nailed it! +1

Tue, 05/03/2011 - 22:26 | 1236733 QQQBall
QQQBall's picture

The move off the lows in ZSL looks to have real potential. Hedge your positions and lower your cost basis or sell some to get your metal free.  That as was 10-bagger off the 4-5 level, so sell 10% or hedge, but either way you do not have to watch every tick. 

Tue, 05/03/2011 - 23:23 | 1236892 trampstamp
trampstamp's picture

Exactly

 

Tue, 05/03/2011 - 18:55 | 1236178 A Lunatic
A Lunatic's picture

I need more chips to buy these dips!

Tue, 05/03/2011 - 19:23 | 1236261 Capt. Ray
Capt. Ray's picture

Yep... I hear ya!

Tue, 05/03/2011 - 18:57 | 1236184 Quintus
Quintus's picture

What does this new manipulation strategy mean?  I remember the good old days when JPM and their cronies could engineer a waterfall decline anytime they chose during main market hours, and without the need to rope in their bought-and-paid-for accomplices at the CME to raise margin rates every 15 minutes (but only on down days).

I conclude that by resorting to tactics such as this, the big short players do not feel confident enough in their abilities to keep playing their old games and are now reduced to fucking about in the after-hours market when nobody else is playing.

Stinks of desperation.

Tue, 05/03/2011 - 19:21 | 1236254 DosZap
DosZap's picture

Call it what it is;

Collusion.

Tue, 05/03/2011 - 18:57 | 1236187 MichaelFitz
MichaelFitz's picture

Keep your powder dry.  This is truly a gift, and so transparent as to be laughable.  Wait 'till it drifts to 37/35 and start buying again.  We'll make some money here....

Wed, 05/04/2011 - 00:47 | 1237076 XPolemic
XPolemic's picture

You think it will drift to 35!!! Oh, happy day, I can stock up :)

Tue, 05/03/2011 - 19:01 | 1236191 everycentometal
everycentometal's picture

the trade at the 45 level has been very thin for weeks and once below 45 the next significant bid support level is about 31, so for those looking to book a profit do it soon, for the btfd wait for mid to low 30's, and for the end of the world camp disregard all price levels.......that is all.

Tue, 05/03/2011 - 19:08 | 1236220 Quintus
Quintus's picture

"Trade has been very thin for weeks"

You mean apart from the all-time high volume days that have been occurring?  Sorry, I see no indication of thin volume.  On the contrary, it has been increasing steadily since early April.

Tue, 05/03/2011 - 19:06 | 1236209 Spalding_Smailes
Spalding_Smailes's picture

Lol ..... Just ......Lol™

 


Silver History  Ω

1900 - $0.80

1910 - $0.70

1920 - $1.70

1930 - $0.50

1940 - $0.42

1950 - $0.90

1960 - $1.00

1970 - $2.00

1980 - $48.00 ( Two months later below $10.00 )

1990 - $6.00

2000 - $5.00

2003 - $5.00

2006 - $8.50

2009 - $12.00

2010 - $18.00

 


Mozilo reached out to borrowers as part of a "little experiment" to understand the reasoning behind making only minimum payments on so-called pay-option loans, a practice that boosts the total amount due, the 67-year-old CEO told investors Wednesday in New York.

"What we're finding out is that they're pretty smart," Mozilo said. "It's like voters: Individually they're sort of idiots, but collectively they seem to make the right decisions."

 

-"CEO Makes Call on Pay-Option Loans: It's Risky", from Bloomberg News.

 


Within a month of putting her two-bedroom house in San Francisco on the market recently, homeowner Linda Gao had five offers, each one above her asking price of $699,000. So before accepting the most-attractive bid, she threw in an extra condition: If you want to buy my house, you have to feed the squirrels. Two weeks later, she and the buyer hammered out a contract that included feeding the backyard wildlife, which Ms. Gao has done three times a week for the past two years. "I don't think it matters if it's a buyer's market or a seller's market," Ms. Gao says. "Anyone with a good heart would feed them."

- "In a Booming Market, Sellers Can Be Choosers" by Amir Efrati, Wall Street Journal

 

I'm so mad at my neighbor. I bought my new home here in Ashburn last summer and plan to sell it next year (after holding two years to avoid taxes) to make a nice return on my investment. The problem is my neighbor is trying to sell his house (very similar to mine) right now and he keeps lowering his asking price. Each time he lowers his price, I see my potential profits next year getting squashed. Doesn't he realize he's hurting the comps for all of his neighbors by doing this? I don't think he is acting very "neighborly" by doing this. I want to say something to him and tell him he should stop putting his interests ahead of his neighbors. It's people like him who are ruining the market for the rest of us. If he would just refuse to lower his price, we could maintain our comps and everyone would benefit. What can I do to stop him?


- Washington Post.

Tue, 05/03/2011 - 19:14 | 1236224 Use of Weapons
Use of Weapons's picture

Yes, but that's the same IP used to troll anon99.org and other such sites. Same avatar as well. Same operating system as well.

You're so far beyond 'made' that your spaghetti no longer sticks to the wall. Plus, you're a double plus twat for thinking that your avatar was ever clever. So 20th Century, I need a Delorean to get back to your supposed "expertise".

 

tldr;

 

Obvious spook is obvious. Fucking joke.

Tue, 05/03/2011 - 19:16 | 1236249 Spalding_Smailes
Spalding_Smailes's picture

"People who talk about a bubble are blowing smoke,"

- Michael Carney, Real Estate Economist



"There was never a "bubble", so there is nothing to "burst".
- Jeromith Sutton, 2006, NAR Investment Advisor

 

Tue, 05/03/2011 - 19:26 | 1236272 drink or die
drink or die's picture

Let me try!

 

"The fundamentals of our economy are still strong"

-John McCain , Incompetent Politician

 

"One myth that’s out there is that what we’re doing is printing money. We’re not printing money."

"The Federal Reserve will not monetize the debt."

-Ben Bernanke, Professional Liar

 

Tue, 05/03/2011 - 19:50 | 1236330 Bear
Bear's picture

I do think he was right ... The US Treasury prints money.

He is not 'monetizing' the debt he just buying TBills and Bonds and establishing massive positions in TBonds puts.

See BB dosen't really lie, its all a matter of how you listen.

Wed, 05/04/2011 - 00:46 | 1237073 Yen Cross
Yen Cross's picture

Thanks for the training wheels. (h-4 swingsYen Cross.

Tue, 05/03/2011 - 19:29 | 1236278 akak
akak's picture

September 12, 2012:

In other news, MethMan was appointed by President Obama as the nation's new Silver Czar, responsible for the newly-created legions of shovel-wielders assembled under the Total Resource Optimization Labor Law (TROLL), who have been tasked with digging into the nation's regolith in search of silver to replenish the COMEX warehouses after their June 2011 default and the subsequent immediate rise in the price of silver to $284 per ounce, and on to $5866 today. Czar MethMan, in an official press release, dismissed widespread doubts about this venture and reaffirmed his confidence in the success of his diggers' mission, stating in regards to silver "the shit is fucking everywhere!".

For reasons not fully understood, however, the TROLL legions of Silver Czar MethMan have become popularly known as "The $5 Brigade" --- perhaps referring to the low-value silver-colored $5 coin issued by the US Mint in the autumn of 2011 following the international dollar crisis, but now being removed from circulation due to its stainless steel content exceeding its face value.

Tue, 05/03/2011 - 19:45 | 1236326 rodocostarica
rodocostarica's picture

good very good. Flesh it out a bit for the next time I think you know what I mean

Tue, 05/03/2011 - 19:52 | 1236344 akak
akak's picture

Creo que yo entienda a ti perfectamente!

(Como se dice lo igual de "LOL" en espanol?)

Tue, 05/03/2011 - 22:50 | 1236803 trav7777
trav7777's picture

well it's rs in portuguese but LOL works almost everywhere

Tue, 05/03/2011 - 22:58 | 1236820 akak
akak's picture

I didn't know that --- thanks!

I learned my spanish long before the rise of la red.

Tue, 05/03/2011 - 23:47 | 1236962 bob_dabolina
bob_dabolina's picture

shut the fuck up

Tue, 05/03/2011 - 20:12 | 1236388 DoChenRollingBearing
DoChenRollingBearing's picture

akak, that is excellent!!!

+ $1530

Tue, 05/03/2011 - 20:12 | 1236401 akak
akak's picture

Muchas gracias a ti, DoChen!

Yo hago lo que yo puedo  ;-)

Tue, 05/03/2011 - 21:06 | 1236542 dussasr
dussasr's picture

Is "akak" the moniker for the fraternity?

Tue, 05/03/2011 - 21:14 | 1236556 akak
akak's picture

Um, which fraternity would you be referring to?

It is not the moniker of any fraternity, as far as I know.

Wed, 05/04/2011 - 00:51 | 1237082 XPolemic
XPolemic's picture

I think dussar was referring to Skull & Bones, a minor fraternity that elects US presidents (and the ones it doesn't, it assasinates).

 

Tue, 05/03/2011 - 22:58 | 1236811 DoChenRollingBearing
DoChenRollingBearing's picture

TODOS hacemos lo que podemos...

Menos los maricones como  XXXX, YYYY, ZZZZ, etc., ay, pero mi mama me dijo no decir nada malo de otros...

 

EDIT:

"Duende" is troll in Spanish, I just looked it up!

Tue, 05/03/2011 - 23:08 | 1236833 akak
akak's picture

Menos los maricones como  XXXX, YYYY, ZZZZ, etc., ay, pero mi mama me dijo no decir nada malo de otros...

Estos mentireros que corren por todos partes aca no son ni maricones --- decir eso es dar un mal nombre a maricones!

"Duende" is troll in Spanish, I just looked it up!

I learned the word "trauco" for such beings on Chiloe Island, where they have a very rich folk mythology featuring several unpleasant variations of traucos.  I suspect that we get most flavors of them daily here in this forum.

Wed, 05/04/2011 - 08:27 | 1237469 trav7777
trav7777's picture

don't be a douche...people advising caution at $49 were not trolls...they were RIGHT.

Tue, 05/03/2011 - 20:51 | 1236516 Ricky Bobby
Ricky Bobby's picture

LMAO ++

Wed, 05/04/2011 - 10:03 | 1237822 ZapBranigan
ZapBranigan's picture

"the shit is fucking everywhere!" 

-I'll send you the bill for my new keyboard.

Tue, 05/03/2011 - 19:50 | 1236329 tmosley
tmosley's picture

How do you know the IP and OS?

Spalding isn't a spook, he's a delivery boy who moonlights as a lot lizard.

Tue, 05/03/2011 - 20:33 | 1236469 takinthehighway
takinthehighway's picture

That is a mental image I could have very easily done without, thank you very much...

Tue, 05/03/2011 - 22:09 | 1236682 topcallingtroll
topcallingtroll's picture

Tmose is just ragging.

Smailes runs a print shop.

Tue, 05/03/2011 - 22:17 | 1236708 Burnbright
Burnbright's picture

You mean copy and paste print shop right?

Do NOT follow this link or you will be banned from the site!