Cause Banging The Close Is So 2009...

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Tue, 12/07/2010 - 10:56 | 785375 Bearster
Bearster's picture

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??

Tue, 12/07/2010 - 11:34 | 785521 the mad hatter
the mad hatter's picture

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

Tue, 12/07/2010 - 12:41 | 785876 malusDiaz
malusDiaz's picture

Failure To Deliver.

 

Easy to naked short if you never deliver, aka the 1 way transaction!

Tue, 12/07/2010 - 10:58 | 785384 SpeakerFTD
SpeakerFTD's picture

Or...

The SLV ETF just ran into massive resistance at $30.

Tue, 12/07/2010 - 11:45 | 785576 tallystick
tallystick's picture

Haha they wanna act like SLV is what matters.

Tue, 12/07/2010 - 10:59 | 785392 Kyron95131
Kyron95131's picture

yeah was watching this go down..

precious moments..

Tue, 12/07/2010 - 11:36 | 785530 the mad hatter
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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

Tue, 12/07/2010 - 10:59 | 785394 VFR
VFR's picture

just waited for it to happen. So predictable. It will get whacked again in about 2 hours unless we see strong dip buying............

Tue, 12/07/2010 - 11:26 | 785483 Turd Ferguson
Turd Ferguson's picture

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.

Tue, 12/07/2010 - 12:06 | 785680 Red Neck Repugnicant
Red Neck Repugnicant's picture

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.  

 

Tue, 12/07/2010 - 12:54 | 785934 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Big bird is a boy.

Tue, 12/07/2010 - 12:55 | 785938 Red Neck Repugnicant
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only in your pornos. 

Tue, 12/07/2010 - 13:58 | 786203 Turd Ferguson
Turd Ferguson's picture

RNR: I'm not sure why you think I should waste my time responding to you. 

Tue, 12/07/2010 - 14:22 | 786301 Red Neck Repugnicant
Red Neck Repugnicant's picture

because I can make you a better person (and trader). 

Tue, 12/07/2010 - 15:18 | 786468 Turd Ferguson
Turd Ferguson's picture

"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.


Tue, 12/07/2010 - 11:26 | 785493 DonutBoy
DonutBoy's picture

Yeah, so it'll go down unless it goes up.

Tue, 12/07/2010 - 11:03 | 785395 Internet Tough Guy
Internet Tough Guy's picture

Just buy the f'ing dip, like China.

Oil got whacked too. Ponzi maintenance.

Tue, 12/07/2010 - 11:12 | 785437 Ragnarok
Ragnarok's picture

Ponzi maintenance.

 

LOL, +1

Tue, 12/07/2010 - 12:15 | 785739 Eric The Red
Eric The Red's picture

+1+1+1+1...

Tue, 12/07/2010 - 11:00 | 785397 papaswamp
papaswamp's picture

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.

Tue, 12/07/2010 - 11:01 | 785399 VFR
VFR's picture

here we go ............!

Tue, 12/07/2010 - 11:03 | 785410 Quintus
Quintus's picture

I suspect prices will start heading upwards again very shortly after the London PM fix is complete in 15-30 minutes.

Tue, 12/07/2010 - 11:09 | 785422 Apostle of Unknown
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Still not clear on this... where are these concentrated shorts and takedowns taking place? In London or on US exchanges?

Tue, 12/07/2010 - 11:11 | 785429 Quintus
Quintus's picture

The same organisations operate in both markets.

 

Tue, 12/07/2010 - 11:13 | 785438 Red Neck Repugnicant
Red Neck Repugnicant's picture

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.

 

Tue, 12/07/2010 - 12:01 | 785653 Tell me lies
Tell me lies's picture

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.

Tue, 12/07/2010 - 13:25 | 786064 johnnymustardseed
johnnymustardseed's picture

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.

Tue, 12/07/2010 - 13:41 | 786132 Red Neck Repugnicant
Red Neck Repugnicant's picture

No shit.

I wasn't referring to their utility.  

Tue, 12/07/2010 - 16:54 | 786877 Slash
Slash's picture

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.

Tue, 12/07/2010 - 11:05 | 785414 Kaiser Sousa
Kaiser Sousa's picture

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.........

Tue, 12/07/2010 - 11:29 | 785503 SheepDog-One
SheepDog-One's picture

I SURE will be glad when the fakeass show is over and I hope its soon because its making me physically ill.

Tue, 12/07/2010 - 11:45 | 785578 Kaiser Sousa
Kaiser Sousa's picture

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...

Tue, 12/07/2010 - 11:48 | 785592 flacon
flacon's picture

Let's go to the CFTC and give them a pound of their flesh!

Tue, 12/07/2010 - 11:53 | 785613 Kaiser Sousa
Kaiser Sousa's picture

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.....

Tue, 12/07/2010 - 11:06 | 785419 EscapeKey
EscapeKey's picture

10-year @ 3.05, up .13 on the day.

 

Tue, 12/07/2010 - 11:07 | 785421 flacon
flacon's picture

Where is the CFTC? 

Tue, 12/07/2010 - 11:15 | 785423 TheGoat
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They bought physical copper to back a copper ETF. Planned release of this product (ETF) is early 2011...

 

Tue, 12/07/2010 - 11:14 | 785444 unum mountaineer
unum mountaineer's picture

perhaps. it is possible to have more than one motivation / reason for making such a move however. just saying.

Tue, 12/07/2010 - 11:15 | 785447 VeloSpade
VeloSpade's picture

COPX

Tue, 12/07/2010 - 11:09 | 785425 lsbumblebee
lsbumblebee's picture

Have no fear. I'm sure Bart Chilton is shaking his fist in the air at this very moment.

Tue, 12/07/2010 - 11:13 | 785440 RobotTrader
RobotTrader's picture

Gold has had a huge run already.

It is about time for a correction.

Tue, 12/07/2010 - 11:23 | 785479 flacon
flacon's picture

RobotTrader has had a huge run already. It's about time for a correction. 

Tue, 12/07/2010 - 11:28 | 785500 AbandonShip
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haha +1

Tue, 12/07/2010 - 11:28 | 785495 Turd Ferguson
Turd Ferguson's picture

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.

Tue, 12/07/2010 - 11:40 | 785552 Spalding_Smailes
Spalding_Smailes's picture

Its getting monkeyhammered.

Tue, 12/07/2010 - 12:06 | 785675 Turd Ferguson
Turd Ferguson's picture

patience, grasshoppah

Tue, 12/07/2010 - 11:30 | 785508 SheepDog-One
SheepDog-One's picture

Imaginary equities have had a huge run already, long over due for a massive correction.

Tue, 12/07/2010 - 12:08 | 785690 Tell me lies
Tell me lies's picture

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.

Tue, 12/07/2010 - 11:15 | 785446 Crispy
Crispy's picture

Dips make me happy.  Goes up we win, gets cheaper we win. 

I dont see the problem.

Tue, 12/07/2010 - 11:18 | 785455 VeloSpade
VeloSpade's picture

The problem is for some people having their stops taken out during this fade because they don't know where to properly place them.

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