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Commodity Plunge Resumes (Updated)
The liquidation wave has arrived, as the entire commodities complex, with an emphasis on silver and crude, continues to feel the wrath of a bipolar market which from inflation has suddenly realized that the underlying deflation needs to exhibit itself before the US Central Bank has a justification for more monetization. Elsewhere, the by bar biggest bubble in the world: the dollar short, is blowing up, with the EURUSD on route to post a 300 pip move in a few hours. Basically, the tit for tat repeat of 2010 in this Anno Domini 2011 continues.
And liquidation update:
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still a child
Well, looks like TPTB win this battle.... The lil guy gets screwed once again as the unlevel playing field becomes clear as day. It's enough to make you puke... Where is the outrage and law enforcement on this market mainipulation! Amerika is headed down the toilet, I can only fear for my childrens future or lack thereof.
Shorting the dollar is "by far the biggest bubble"? Surely the American consumer is the biggest bubble of all, as Robot Trader has highlighted. Lots of monetary noise and speculation, but Americans still consume multiples of what they produce in material value. The emperor has no clothes and we're close to the revelatory moment. Yet retail stocks in the US trade on oblivious to all the noise, and Amazon fetches a near-triple digit multiple. Shorting America generally, if not the dollar specifically, is hardly the biggest bubble. But I expect it will pay off soon.
Anyone paying attention to the games at JP Morgue and the Con-ex (or is that Ex-Con) for more than the last two days knows that this is no surprise... the banks will make at least one more solid run at getting the nitwits and sheep to part with their physical in return for confetti. All the morons who fall into the trap take a good look at me if you want to know who your counter party is. I'm buyin' and holdin'.
i feel like ali on the ropes absorbing george foreman's punches, saving my energy for the right moment.
The FED could take the juice out of staple commodities and then initiate Qe3. Wash, rinse, repeat.
The FED could take the juice out of staple commodities and then initiate Qe3. Wash, rinse, repeat.
ebay listing, can buy much cheaper on APMEX
http://goo.gl/4NKNg
Junk me, mother-fuckers! I hate feeling left out.
Oil down 7.62 right now. I bet you can guess who is keeping the market from crashing right along with these drop in comm prices.
Oil down 7.62 right now. I bet you can guess who is keeping the market from crashing right along with these drop in comm prices.
Push it down! Push it down! Push it down! I have money I want to invest.
Want to start a run on the banks? I went and took a medium amount of confetti out of the bank today and they ran out of 100 dollar bills.
SO how much do you douche bags sitting on your ass collecting unemployment make junking in forums? Does it pay well?
I asked RainbowTrader how much his brother in law Tyler pays him for his little ongoing clown show here, no answer.
LOL!! Priceless
I bought physical silver at 16.00 to 22.00 an ounce and although I am not rich, I do not need to cash it in now. I know two things about silver: One is that if I have the physical stuff, I am not worried as if I had paper silver as those responsible for exchanging the paper for physical have been known to substitute fiat when out of Physical. Just need to look at Argentina in the 90's to know this is true. And paper can be devalued overnight. Also, if I die, my kids can take physical posession of my silver without the tax man knowing and taxing it like I am sure happens when you die and own a paper trail.
My mother in law visited us last weekend. She complained about high prices on everything she needs, her savings dwindling, Obama is to blame, etc. etc. I offered to buy her silver for mother's day. She said "I don't want to get involved. Everyone knows silver is in a bubble." She called last night to gloat to me wife. "I told you so........." She is right. Paper silver is a bubble. When she ends up at our house a refugee, I am going to make her live in a doghouse out back, with FRN's as wallpaper. She can eat her food out of a solid silver bowl...
your MIL did PWN you tho
Speaking of being PWNed!
http://youtu.be/ks8PZ8X6Yo8
Too funny man...
Help me understand, does that mean our economy is recovering?
http://cgi.ebay.com/2011-American-Eagle-Roll-20-Coins-/230617640214?pt=LH_DefaultDomain_0&hash=item35b1e1ed16
Watch as physical silver sells for $46oz.
That is the real price folks.
There will always be a premium to spot. At 40 or at 4. Move fast enough on the downside and you'll profit at any price.
Is there a way to model the impact of the margin requirements increases on the drop of a commodity? Or to track it post event? Margin tightening of X% = rise of margin calls of Y = drop in underlying by Z?
BTFD or forever hold your "piece"
if you know wa am sane
Our economic "recovery" is like a diseased patient "recovering" in an 1820's hospital, where the only treatment offered is being attached to a bloodletting device for months on end.
meaning....? Whats the other words?
Envision "reverse bank robbery"
Damn! Has Mickey D's not called me back for that job?
Granny's tea set, baby! The Great Silver Melt 2.0. We were getting close to spot in the Kohl's jewelry inventory, let alone the liquidation.com shelf pulls, the goodwill treasures and yard sale season has just begun! Woo hoo! Sold all my physical (sterling) on ebay and craigslist when spot was $48 to the hyperinflationary true believers and refiners. Those who didn't have instant payment continue to lose. Better use paypal if you want fast turnaround. Those who paid by electronic check - there's no way you'll get a shipment until that clears.
Somebody junked me - for profiting on other people's junk. Don't resent that I make money buying silver at huge discounts and selling to the sheeple. I'm adding (perceived) value. Maybe I should cushion the shipments with Ted Butler newsletters and feed the frenzy.
I was your second junk -- for bullshit bragging. Hey Horace Tabor, are you planning to pay the IRS its vig on your big score? Or will you slip quietly away using the under $600 rule for 1099s?
LOL
So this was the big buying opportunity? Buying an oz of silver for 40 some dollars on apmex? This is the best the minions of hell can do?
Silver is in the midst of one of the greatest selloffs I have ever seen in any financial instrument (save a few dot bombs). Truly remarkable. Seems the rest of the precious metals can't resist and are joining the swan dive, oil too. So one has to ask, is the inflation run over? Are the deflationary forces simply overwhelming the credit printing by the worlds central banks? Is QE2 failing? Or, are we going to get a spike bottom in commodity prices to clean out all the weak hands? It has become increasingly clear after the fact, that the PM complex was chock full of weak hands with too much leverage.
With todays jobs report, the case for QEIII just got stronger. So we could get a bounce as vicious as the collapse. Maybe we get an eventual move to all time highs (end of year?). But technicals always lead the fundamentals. We will not know if deflation is really taking hold for a few months from now. By then it will be too late to sell.
I really hate these kinds of markets. The moves are just too blinding. As a side note, I have no interest in selling my physical and not enough courage to BTFD. So I watch from the sideline in wonderment.
http://www.TheAngryGrapes.Com
@HamyWanger...
I have not seen a post get even 100 junks in ZH yet, your post is going to break 200. Instead of lashing out at traders that maybe upside down in positions, why not add something to the discussion?
Watch the silver miners, they were leading the way down prior to silver the metals following (I use SIL etf).
Good Luck to All...
Ok, everyone stop junking Hamy! Silver is moving inversely to his junk rating.
LOL
Human perception correlating unrelated things at its best.
It's always wise to crack jokes on the elevator down. Breaking wind, in an already uncomfortable situation, tends to make others angry.
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Soooo, hmmm....
How's this good news for silver?
Ah...
Ah.... never mind.
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"What's a couple of hundred million to you. You can afford it."
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today's appropriate movie trivia
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Muir = Troll.
Dig this, dopey. Everybody here who might be identified as a silver bug has a cost basis somewhere between $6 and $21, so nobody's lost anything but paper profits and they are all still holding their original investment, self included.
When the time is right - i.e., when the JP Morge is satisfied in having covered enough shorts to survive through summer - these very same people you deride will be buying with handfuls of FRNs and silver will rise back beyond $50 and well beyond that in years to come.
Meanwhile, you and your stock-sucking ilk will be wondering what Mandy Drury's bra size is as Netflix and AAPL get chopped up like slaughtered lambs.
Enjoy your worthless gloating for now, because ignorance is bliss and a little knowledge - which is what you have - is a dangerous thing, indeed.
" stock-sucking ilk "
I like that!
Just so you know, most here that do trade have a set of buttons, "buy" "sell" & "reverse position."
This isn't e-trade son, we short the market.
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Dang, I wish I had some fiat to purchase PM's right now.
Tulving says:
In Celebration Of Our Record $10 Million In Business in 1 Day!!
We Are Having A Silver Sale - Now Through The End Of May.
Get 5¢ An Ounce Off On Every Silver Item We Sell
Damn - Who's been buying Tulving's Maple Monster Boxes this week?
after the valley, there is always the peak of the next hill.......
yawn....
While trying to catch a falling knife earlier, I received this message:
Customer Service Alert optionsXpress is in the process of raising the current Silver requirements to our servers. The new COMEX Silver margin requirements for the SI contract is $32,400.Looks like Operation Bin Laden Bubble Buster is working!
Silver Thursday 2.0! Fundamentals were not even in the equasion. Meanwhile, everyone looks to "hunt" down the culprits. I'll let you in on a little secret - the masterminds behind this - the detached from reality, "from my cold dead hands" ultralongs. We rean out of new converts.
INFANTRY RETREAT!!!
at the end of the day russian, chinese and even mexican central banks which know a thing or two about collapsing paper money are buying gold in size. and any reasonable person can see clearly the usa government is bankrupt, yet will continue the ponzi welfare state whether gold is at $1500 or $6000. so the fed will print to accomodate the scheme leading to more deficits, debt and devaluation.
in addition, fair minded people will admit the economy is not improving. so the fed will maintain zirp for a very long time.
i'll stick with my gameplan of accumulating what tptb do not want me to have. nothing has changed except that it has rained for a few days.
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Tis but a scratch.
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Johnny come latelys in big trouble tonite.
This reminds me of the housing bubble except for the fact that it is being done at warp speed.
Warp Factor 9! Star Trekkin
http://youtu.be/FlTMXiqbDZU
Star Trek: Beam me up, Hottie!
http://youtu.be/W-WA90u0f0Y
I think both these links address your warp speed, and Johnny cum lately comments!
except that none of my co-workers or friends have physical silver.
and yet more than half of them have underwater homes.
next fucking fail ass comment?
I need it to get down to $22 so I can buy some more.
Learn the lesson Silver bears.
Silver isn't an investment - it can always gain you passage on a boat or plane - FIAT currency will not.
Silver is PROTECTION - and nothing drives markets harder than fear.
It's time to get physical.
I just wonder, will physical price stick at the high regardless of how low papers got pushed?
The two can't diverge too much, can they? Coz if they do, more and more ppl would take delivery and shorts will be forced to cover and thus bring paper back up too...or am I missing sth?
first. Hamy. my congratulations on 220+ junks. Must be a record. Second, as much as I hate to see others lose 30% in a week, I'm damn glad I didn't take the plunge at $50 or so. Hopefully, I'll be able to buy 100 Silver Eagles for 3 grand soon.
Can anyone recommend a reputable dealer with reasonable prices?
Check your own locale; I've bought in my city of residence and in 2 other states without problem. Will start adding once the paper flood subsides.
+221, when you care enough to send the very best.
a coincidence surely, but it is interesting that the commodity complex tanks this week after there was essentially no QE 2 last week.
also, in the last two weeks (this week not out yet) $80 bn in bank reserves at the FED got retyped over to the Treasury's checking account, nicely pumping up same.
I've speculated that the hefty increase in bank reserves fueled commodity speculation via the Fed Funds market, intermarried with securities lending, contrary to the FED's assertion that the bloated bank reserves just 'sit there' drawing interest and sterilized from circulation. The reduction in QE 2 (paid for via typing up more bank reserves) and the outright transfer of bank reserves to the Treasury would mean less fuel for commodity speculation.
Correlation is not the same as causation, still they are some interesting coincidences.
Just went to my "store" to BTFD and cleaned out, nothing. He had about 300 or more oz's on Saturday... Today .... nothing.
Ok this is entertaining
What's next? The chairsatan was in on the shooting the other night in Pakiland with 77 other dickheads from the fed?
BTFD!
QE3 will be in the Trillions!!!!!!!!!!!!!!!!
253 junks, but who's counting.
Fleabay still has Eagle's at $44+.
I wonder if they are paying for silver or premium?
Maybe its the numismatic value.
Hate to say it but this has the same feel as when silver crashed from $20+ down to <$9 post Lehman Bros collapse - about 2 weeks time. Every single believer in silver doubted it (including me) when it went below $9. My gut tells me it will keep falling til it gets into the mid 20's until it roars back. I'm tempted to buy in now but going to let discretion win on this one. Not going to fight the manipulators. $32 was my last buy in and I'm not making another move til it's well into it's 20's again.
This sure looks like a repeat of 2008. Is this the big double dip? If so, why isn't the stock market falling?
In 08, the rout in commodities started a good month before the fun in stocks started.
So, silver is down around 8.75% "So Far" today. It fell over 17% in one day in 2006. We are half way there. Gold continues to add to its losses. It is hard to get any work done when this type of dramatic show is on the TV.
I blame sites like zerohedge's relentless daily pumping of silver
Silver Bid $35.80 -3.49
APMEX 2010 Silver Libertad price $48.27!
That's a $13.00 premium over fake spot price!
They only have 216 of them!They don't have one 2011.
This is a murderous heist of biblical proportion!
Silver Bid $35.80 -3.49
APMEX 2010 Silver Libertad price $48.27!
That's a $13.00 premium over fake spot price!
They only have 216 of them!They don't have one 2011.
This is a murderous heist of biblical proportion!
Silver Bid $35.80 -3.49
APMEX 2010 Silver Libertad price $48.27!
That's a $13.00 premium over fake spot price!
They only have 216 of them!They don't have one 2011.
This is a murderous heist of biblical proportion!
Don't sell one ounce of your physical silver to these fuckers!
Don't sell one ounce of your physical silver to these fuckers!
Don't sell one ounce of your physical silver to these fuckers!
Silver Bid $35.80 -3.49
APMEX 2010 Silver Libertad price $48.27!
That's a $13.00 premium over fake spot price!
They only have 216 of them!They don't have one 2011.
This is a murderous heist of biblical proportion!
Silver Bid $35.80 -3.49
APMEX 2010 Silver Libertad price $48.27!
That's a $13.00 premium over fake spot price!
They only have 216 of them!They don't have one 2011.
This is a murderous heist of biblical proportion!
Silver Bid $35.80 -3.49 APMEX 2010 Silver Libertad price $48.27! That's a $13.00 premium over fake spot price! They only have 216 of them!They don't have one 2011. This is a murderous heist of biblical proportion!
Besides all that, what lubed douch nozzle would invest their entire life savings in silver at $48 ?
This is their nuclear option.
Don't sell one physical ounce of silver back.
They don't have any.
This is their nuclear option.
Don't sell one physical ounce of silver back.
They don't have any.
This is their nuclear option.
Don't sell one physical ounce of silver back.
They don't have any.
They couldn't scrape up any oz's at $50
Think they're going to sell you physical oz's at $20?
Hell fucking no! They're screwing you big time if you give them your shit back now!
Hold on and fuck them!
They couldn't scrape up any oz's at $50
Think they're going to sell you physical oz's at $20?
Hell fucking no! They're screwing you big time if you give them your shit back now!
Hold on and fuck them!
They couldn't scrape up any oz's at $50
Think they're going to sell you physical oz's at $20?
Hell fucking no! They're screwing you big time if you give them your shit back now!
Hold on and fuck them!
They couldn't scrape up any oz's at $50
Think they're going to sell you physical oz's at $20?
Hell fucking no! They're screwing you big time if you give them your shit back now!
Hold on and fuck them!
strength liberty peace
1776
strength liberty peace
1776
strength liberty peace
1776
Hey douche ... is your return key stuck???
http://timesofindia.indiatimes.com/business/india-business/Akshaya-Tritiya-Gold-silver-traders-scramble-for-supplies/articleshow/8168995.cms
in India people are paying double (the bogus) spot for physical Gold!
MUMBAI: Gold and silver traders in India, the world's biggest buyer of bullion, scrambled for supplies as they braced for strong sales for a local festival, pushing premiums higher, bank officials and suppliers said. "People who were left out 50,000 rupees ($1,118.5) are rushing in to buy at 60,000-70,000 looking at 100,000 rupees," said Mayank Khemka, managing director, Khemka Group of Companies, referring to silver. "I am doubtful whether demand will sustain after Akshaya Tritiya."
What this government and the banksters and especially the CNBC MSNBC media are doing is murderous.
ken
http://timesofindia.indiatimes.com/business/india-business/Akshaya-Tritiya-Gold-silver-traders-scramble-for-supplies/articleshow/8168995.cms
in India people are paying double (the bogus) spot for physical Gold!
MUMBAI: Gold and silver traders in India, the world's biggest buyer of bullion, scrambled for supplies as they braced for strong sales for a local festival, pushing premiums higher, bank officials and suppliers said. "People who were left out 50,000 rupees ($1,118.5) are rushing in to buy at 60,000-70,000 looking at 100,000 rupees," said Mayank Khemka, managing director, Khemka Group of Companies, referring to silver. "I am doubtful whether demand will sustain after Akshaya Tritiya."
What this government and the banksters and especially the CNBC MSNBC media are doing is murderous.
ken
Truer words-- it aint about silver or inflation due to fundamentals-- it's about the fed destroying the dollar and reigning in a correction to get away with QE^x.
http://timesofindia.indiatimes.com/business/india-business/Akshaya-Tritiya-Gold-silver-traders-scramble-for-supplies/articleshow/8168995.cms
in India people are paying double (the bogus) spot for physical Gold!
MUMBAI: Gold and silver traders in India, the world's biggest buyer of bullion, scrambled for supplies as they braced for strong sales for a local festival, pushing premiums higher, bank officials and suppliers said. "People who were left out 50,000 rupees ($1,118.5) are rushing in to buy at 60,000-70,000 looking at 100,000 rupees," said Mayank Khemka, managing director, Khemka Group of Companies, referring to silver. "I am doubtful whether demand will sustain after Akshaya Tritiya."
What this government and the banksters and especially the CNBC MSNBC media are doing is murderous.
ken
The bounce will be just as spectacular once the wash out is complete.
Considering there are CB's all around the world buying.
Now I have a question.
It was reported earlier this week that the Bank of Mexico has purchased 100 tonnes of gold. Who did they buy it from? Where did 100 tonnes comes from in the market?
Considering that China has made it quite clear they are accumulating a quantity like that becoming available and Mexico out bids.... doesn't make sense.
China is getting its gold directly from mines in Myanmar. According to Rickards their average cost is $300 oz.
I understand that.
But China also told the IMF they stand ready to but ALL their gold. They were not taken up on that offer.
Now we have Mexico buying 100 tonnes ... where did that quanity come from? Who was the seller? And how did they beat China to the punch?
The mestizo lands be plentiful in the precious and gold too. sky diving for gold part 2
At the bottom in 2008, some were beginning to wonder what the Fed would goose to start another asset bubble. Bubble after bubble, yet many come to believe that "this time is different." If you listen to financial service workers(whores) about financial matters, politics and economics, you're going to be taken to the cleaners every single time.
Now, if this a correction or a final top in silver, it does not make a difference, all initial collapses are bought.
9 week gains in silver evaporated in one week, what a market
i guess cramer is still batting 1.000!
I said it here 5 hours ago that we will close today @35 and tomorrow @30 after NPF, up till now I'm correct
Who didn't see this coming? Really.
the very same that will miss the ensuing bounce. :o)
Silver collapses, oil collapses, Euro collapses, DXY takes off ...on no sigfnificant news.
I don't know how anyone makes money in these manipulated markets ...except manipulators of course.
I thought that there was an option for daytraders to pay a premium above spot and take immediate delivery for a 5000 ounce contract. Now might be a good time to do that with this dip in prices. As for me I will go check out real soon if anybody in town is honoring these new spot prices. Last time in 08 when Silver dropped to 8 bucks one dealer in town said that he was out of inventory. when the price went back up to over $18 his inventory suddenly came on line again.
Hey, where have your silver posts gone during the crash? Anyway, it was a clear bubble and predicted by many here.
35,06. its getting too fast. Just a reminder of how the March 13th graph looked like- it does go down fast, I myself can not tell from the graph how fast from top to bottom- to little pixels. Its now 11 days from intraday top of 49,72, so its a 29,5% correction in 11 days. Not bad.
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&start=40#p31020
In the original chart, if i magnify it, peak to bottom seems to be 13-17 days. That is latest next Wednesday? Lets say, next week silver will bottom out.At around 25-30.
Alot of big talk here. I prefer to put my money where my mouth is. I trade silver, when it goes up, I make money x4, when it goes down, I make money. If you want to actually make money paper trading the silver market or simply learn, then do yourself a favor and checkout http://slv.collective2.com
It's common for emotions to run on high in times like these. As far as the JIT food delivery system running out of gas, or etf's like SLV crashing due to lack of physical backing, I'd be cautious there. It took the Titanic a long time to do a 180 degree turn. The global economy is large and there are myriad forces arrayed in defiance of the massive deflationary forces putting pressure on the markets. These myriad forces will eventually be the cause of our coming over/hyper inflation. However, waiting for it to happen next month will leave you waiting a while, when instead you should have been printing money like the guys who KNOW what's going on. Right now, you can still trade worthless FRN's for valuable stuff like physical PM's, food and ammo. Take advantage of that.
$5k autotraded by my service from February 2011 (when I took it public) is worth over $16k today, 3 months later. It's a combination of knowing the silver market very well and disciplined risk management techniques utilizing options strategies. Anyway... hi ho silver!
http://slv.collective2.com