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Cause Banging The Close Is So 2009...
JPM's cornering of the copper market must be proceeding successfully, as the firm has apparently developed a sense of self-confidence that it can now move from banging the silver close to banging the commodity right at the open (even when there is no OpEx on the horizon). A straight line $10 drop in which every bid is taken out is precisely the same activity that ex-Moore trader Chris Pia got in trouble for some time ago. Of course, when HSBC and JPM do it, it is perfectly acceptable. In the meantime, China, which is now practically openly buying up gold in the open market, thanks Blythe for this $10 dip in the country's cost basis. Lastly, we continue to await news of how the $1 trillion+ in incremental debt is going to monetize itself.
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Wait, if the banks are naked *shorting* gold, then they also are providing the *bid* too? And when they pull their own bid (presumably when they short, they sell to their own bid??) the price falls??
my friend, people like me and you provide the bid. the banksters naked sell short tranches of gold futures to wipe everyone out, start margin calls, and get everyone else to sell.
http://unconstitutional.blogspot.com
Failure To Deliver.
Easy to naked short if you never deliver, aka the 1 way transaction!
Or...
The SLV ETF just ran into massive resistance at $30.
Haha they wanna act like SLV is what matters.
yeah was watching this go down..
precious moments..
a temporary hickup on the road to currency debasement. the banksters are trying to milk every last troy ounce of value from their precious fiat currencies.
wait til asian buyers swoop in on the PM fix.
http://unconstitutional.blogspot.com
just waited for it to happen. So predictable. It will get whacked again in about 2 hours unless we see strong dip buying............
The Monkeys pulled this same shit yesterday. Crude rolled over and they sat tight for a few minutes and then BAMM. Hit gold and see if they can get the ball started rollin to the downside. Didn't work yesterday. Won't work today.
Feb11 gold is already $4 off its lows at 1420. Too much momentum, too strong of dip-buying by the BoS and too much POMO ($8B today). All commods will grind higher from here today. Gold will be back pushing 1430 by this afternoon.
Btw, all that really matters today would be a close above the old all-time high from 4 weeks ago today. That number to watch is $1426.
Turd
First of all, big bird wants her hat back.
Btw, all that really matters today would be a close above the old all-time high from 4 weeks ago today..
Secondly, that statement seems very arbitrary and indicative of someone who trades on charts, and charts only. Since you are a chart specialist, can you tell me the difference between the oil charts of 07/08, and the gold/silver charts today? If memory serves correct, those oil charts were useful...until they weren't.
Big bird is a boy.
only in your pornos.
RNR: I'm not sure why you think I should waste my time responding to you.
because I can make you a better person (and trader).
"Feb11 gold is already $4 off its lows at 1420. Too much momentum, too strong of dip-buying by the BoS and too much POMO ($8B today). All commods will grind higher from here today. Gold will be back pushing 1430 by this afternoon."
Well, shit, this was no good.
Still, 1410 and 29.90 look pretty good on the tape compared to two or three weeks ago.
Yeah, so it'll go down unless it goes up.
Just buy the f'ing dip, like China.
Oil got whacked too. Ponzi maintenance.
Ponzi maintenance.
LOL, +1
+1+1+1+1...
Somebody must want to make a big buy and needed the price to come down. Either that or margins went up and no one was notified.
here we go ............!
I suspect prices will start heading upwards again very shortly after the London PM fix is complete in 15-30 minutes.
Still not clear on this... where are these concentrated shorts and takedowns taking place? In London or on US exchanges?
The same organisations operate in both markets.
Here's some clarity:
It's called, betting the devil your head.
This will end in tears. Reminds me of oil in the summer of 2007.
Not if you bought @$650. Most gold bugs bought a long time ago. Only you late to the party might end in tears.
The oil and gold analogy is quite ignorant of you.
Hey Red neck, your analogy to oil is lame. Oil is a commodity but it is not money. Gold and silver are money and always have been. Pretty sure Blackbeard didn't bury a treasure chest of oil.
No shit.
I wasn't referring to their utility.
he may have a point.......revolving credit contracted another 8 something billion.....we're still deflating. all of the "inflation" from qe isn't leaving the banking system.....the fed, PD, treas circle jerk is still in full swing.
its such bullshit...it runs contray to the fundamentals of the metals and the fraudulent equity markets but nontheless continues...the only solice is the knowledge that it has nothing to do with the real value of the only forms of real money...be glad when this fake ass show is over...like very soon that is.........
I SURE will be glad when the fakeass show is over and I hope its soon because its making me physically ill.
honestly i dont get ill...it makes me want to go down to the financial district and wait for a banker to walk out and then hit him over the head with a sock full of rounds...
mother fuckers...
Let's go to the CFTC and give them a pound of their flesh!
man the CFTC is bought and paid for....Chilton knows damn well them folks aint gonna do a damn thang which is why he's doin what he's doin - running his fucking mouth...he could blow the whole operation if he just stepped aside and instead of blowing smoke up all our asses just blew the fucking whistle on the fraud and manipulation...he just wants his job...the citizens be damned.....
10-year @ 3.05, up .13 on the day.
Where is the CFTC?
They bought physical copper to back a copper ETF. Planned release of this product (ETF) is early 2011...
perhaps. it is possible to have more than one motivation / reason for making such a move however. just saying.
COPX
Have no fear. I'm sure Bart Chilton is shaking his fist in the air at this very moment.
Gold has had a huge run already.
It is about time for a correction.
RobotTrader has had a huge run already. It's about time for a correction.
haha +1
I disagree Robo.
We corrected almost 7% three weeks ago and we are just now approaching the highs of 11/9. The next sustained "correction" won't de due for another $75 or so.
Its getting monkeyhammered.
patience, grasshoppah
Imaginary equities have had a huge run already, long over due for a massive correction.
Robot, stocks are about time for a correction. I bet you gold will hold up better in a downdraft. But you don't have to worry, soon Cramer will be saying Dow 14k.
Dips make me happy. Goes up we win, gets cheaper we win.
I dont see the problem.
The problem is for some people having their stops taken out during this fade because they don't know where to properly place them.
GLD with 6.47 stdev over the last 90 days they best be wider.
Why place stops at all if you are buying to accumulate?
IRE and AIB both up 22%
Crisis is over.
Is LPS one to watch?
Next up, Port de Gaul! Tell them what hey have won!
Port de Gaul, you have won a bailout from the IMF! Sign your right to establish your own bank away on the dotted line! You will now be ruled by a global entity that functions more as a cartel than anything else! Congradufuckinglations!
Yeah, okay Betty. Good call.
http://en.wikipedia.org/wiki/Gold_fixing
it's 3pm london-time folks... the PM fix... try thinking outside the USA ofr a while... try getting a passport?
it goes without saying
(obligatory)
http://www.youtube.com/watch?v=UMRo5XCKddQ
'memba how nervous everyone was when gold was inching up to 1400 Oct-Nov? there was definitely an awkward "was it a fart or did I shit my pants" moment. fast forward to present we're holly jolly to 1500 like "pppffffttt...fuck a bank!"
HOLY FREAK! $29.90!
You've got to be kidding me! I'm starting to get pissed at the "regulators" for allowing this to happen. Where is the CFTC?!
15:36 London time and still no fix. Doesn't normally take this long for the cartel to agree a price.....
really....
from 1432. and 30.75 to 1408. and 29.83....
this is straight fucking bullshit.........
Get used to it. This is war, not some garden party.
Whenever the PMs take a hit guys like you post about how the boogeyman unfairly pushed the price down. Grow up. It's a market - it goes up, and it goes down.
$29.80!
29.80 & support held strong
Uber Strong
Well now they've gone an punched a hole in it. Down to $29.75.
http://www.silverseek.com/quotes/24silver.php
timberrrrr
Fear the paper bitchez !
Each daily battle is not worth sweating over, especially when the enemy has hundreds of billions of dollars they receive free from the government for the pupose of shorting and driving the price of PMs down.
It is more surprising to me that LondonTown did not step in first and NY is going solo today (usually on a down day like today The City hand gold off after they break its price move down).
But no worries, can't win everyday.
After the close yesterday I wrote:
http://lhmarketwatch.blogspot.com/2010/12/days-end-gold-and-silver-take-...
Bounce off $1407 there, now it will go down to $1395 before settling around $1401.
I sold a Double Eagle yesterday. Maybe I'll go buy it back!
Better hurry! Bouncing hard off of support.
A later take down than expected - a little variation perhaps
Global cartel running into resistance on all fronts. Hopefully Europe is spending their fresh pigfaces on PMs.
Hard dip buying today with spot at 1407 from a primary dealer org & surprised to see filled at 1395...lets see the close to establish perhaps some more proof.....or just a banker f.up as this was late late in the day Euroland.
this is brilliant! what a ride. buy , buy, buy!!!!
watch it go manic in a few minutes
So the London Fix is in.. Bounce time ??
Don't pay attention to micro moves now. Look at everything else. On every other axis, big moves count. Geo-political, Geological, Socio-political....
Resistance at 30. No problem. Remember 1400 was taken out before most predicted. So was $30 dollar silver.
Hold and watch.
The game is going to get vastly more interesting and hairy from here on out.
ORI
http://aadivaahan.wordpress.com
you're right . These are micro moves. You can cut a sword through the fear out there. We will see $100 gold moves in a day soon.
Yep, and they want to make sure as few specs as possible are along for that ride.
100% Ben's got their back!
well the shake out will continue to rattle the newbies. "Hold your nerve merv" is the mantra for now.
Bottom Line: Awesome relative strength by Silver over Gold today in the face of major assault by "ponzi maintenance" ( I love that term, as posted somewhere above)!!!
Fix tha fix,only tricks.
Happy to be physical all in.
Do not let prices fool you,
just caculate the ounces;that's
what counts,protect your wealth
from insane gouverment and institutions.
Just wait until 1pm rolls around for the NY afternoon fix at 1:30pm.. ..... They'll probably take it down to $28.50 or something stupid.
i mean really...this shit is so criminal...so everything paper denominated n debt coupon currencies is up today holding onto gains while everything tangible and free of counterparty obligation is falling thru the floor n a world awash n debt they can never b paid????
look at how thier hammering Silver....29.77?????
fucking bullshit man............
C'mon, KS, this is not that big of a deal.
Nothing is holding onto gains today. Crude, PMs, grains, equities...all have been moving lower all day. Gold has found support between 1400-10 and silver between 29.50 and 30. That should be it.
Shit can't go up every day. It can't and it won't. You drive yourself fucking crazy if you live and die off of every fucking tick. Be patient. Hang in there. All is well.
TF,
Do you think Blythe is going to try to make a London PM fix BELOW yesterday's? It sure looks that way right now. 32 minutes until we find out.
I am one of 110 followers of Turd Ferguson's excellent blog "Along the Watchtower". I bought 10 physical ounces today, just because.. it's the day to do so. I have some money coming available Thursday morning, so I'm welcoming a little breather here in silver. I'm just wondering whether or not to wait for the weekend to pass, as mentioned elsewhere, China may raise rates throwing a damper on the party temporarily.
I'm with the Turd.
Does it seem odd that in the last 10 days or so taking a short SLV position from ~12pm EST to ~1:15EST only has been wildly profitable?
Turd -
i have the upmost respect for ur knowledge...my anger is over the fact that we do not have real, free markets that resemble n anyway global macro-econmic reality let alone market specific fundamentals...there r those who have the financial well being of themselves and their loved ones tied to the decision to accumulate real money versus fraudluent paper do dads denominated n a soon to be worthless currency...thus, when they do what they do to Gold & Silver i consider it to b a personal attack on me and my family...and guess what - that shit pisses me off as it should everyone else unplugged from the debt coupon Matrix...
peace b with u
I dont get it, the whole PM deal is supposed to be an insurance agains the crazy-ness out there, right? It's fun to see it go up in fake currency value, but I bought it because the currency appears fake to me. There is no way around it in daily live, most of my money will stay money and be spend as money. Until everything collapses. Then we can say 'I told you so' and actually have stored some of our belongings into PM's. Insurance. The whole price up-down story really makes no difference in that scenario. And to be frank, for me the whole thing can stabilize again, PM can go down again and I'd have lost allot of my spare change in that deal. But that would mean that live returned back to 'normal' again and I wouldn't mind that at all. A small price to pay I'd say. I'd hate to see the whole thing come down on us, on the people I care about. PM's going up means two things: 1) the value of my PM's is going up calculated in fake currency and 2) the collapse of the whole thing, and thus all the really bad stuff coming after that, is getting closer and closer...
I'd rather choose to loose on the PM bet and thus also skip the second part..
Enjoy and good luck.