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Futures Gap Down To Wednesday Levels As Silver Climb Relentless

Tyler Durden's picture


Courtesy of endlessly trading and constantly front-run electronic markets, after watching the geopolitical carnage overnight with little reaction futures have suddenly gapped down by over 10 points to below Wednesday's closing levels, wiping out the levitation from both Thursday and Friday. Indicatively, as stocks finally appear mortal once again, silver (now  a quarter away from $34) is up 11.63% from its Wednesday lows, and even gold is up 2.7%. The former traditionally takes a while to pick up momentum. Once it does, not even JPM can stop it.


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Mon, 02/21/2011 - 11:55 | 981651 Sophist Economicus
Sophist Economicus's picture

I smell a DIP!!!!

Mon, 02/21/2011 - 12:08 | 981698 Golden monkey
Golden monkey's picture

Dip or not, it's still cheap below 75$.

Mon, 02/21/2011 - 12:58 | 981868 Richard Head
Richard Head's picture

Been waiting for another dip after missing the pullback to $26-27.  Couldn't stand the pain any longer and just bought some more.  So you can be sure Ag will now start going down again! 

Mon, 02/21/2011 - 13:10 | 981917 qrad
qrad's picture

you will be glad you got the physical. just don't sell until it's obvious that the manipulation is over, and pledge your deliveries at

Mon, 02/21/2011 - 11:56 | 981653 FischerBlack
FischerBlack's picture

Yay a dip, lets buy it.

Mon, 02/21/2011 - 13:02 | 981887 Michael
Michael's picture

But, we have a Recovery. Look at the Green Shoots.

Best of walstreetpro2 (greatest fuckin hits) - 1 of 3

Best of walstreetpro2 (greatest fuckin hits) - 2 of 3 

Best of walstreetpro2 (greatest fuckin hits) - 3 of 3

Mon, 02/21/2011 - 11:57 | 981654 eblair
eblair's picture


Mon, 02/21/2011 - 11:57 | 981657 The Count
The Count's picture

Watch some kind of voo-doo levitate the SP futures to like 2 points plus before the end of the day. The markets must rise says the high priest of the money temple!

Mon, 02/21/2011 - 11:56 | 981658 slow_roast
slow_roast's picture

Silver bitchez!

Mon, 02/21/2011 - 12:43 | 981810 in-Credible Banker
in-Credible Banker's picture

What is the point of saying "silver bitchez" everytime a silver related article appears on ZH?  How about something a bit more insightful, and worth reading? 


Mon, 02/21/2011 - 12:54 | 981851 tmosley
tmosley's picture

Just own physical silver.  There's not much more to wealth accumulation in this environment than that.

"Silver bitchez" is a most concise way of saying as much.

Mon, 02/21/2011 - 12:57 | 981857 perchprism
perchprism's picture


Gold Bitchez!!

Wed, 02/23/2011 - 20:28 | 990944 The Count
The Count's picture

Bitchez, Bitchez! As in, I am long hookers :)

Mon, 02/21/2011 - 13:07 | 981904 traderjoe
traderjoe's picture

Because the beauty of this site, imho, is comments range from the insightful, sarcastic, mundane, inane, etc. - where emotions run from teenage giddiness to outright heartbreak and loss. It's all there, and it's all good. It's Fight Club - bitchez...

Mon, 02/21/2011 - 18:38 | 983103 Going Loco
Going Loco's picture

And the best comments are the short ones (no, not that sort of short).

Mon, 02/21/2011 - 13:19 | 981955 outamyeffinway
outamyeffinway's picture

Maybe it's just fun. Have you ever done it? Let's all do it together: Silver bitchez!!!

Mon, 02/21/2011 - 13:23 | 981970 Gordon Freeman
Gordon Freeman's picture

Silver bells...

Mon, 02/21/2011 - 11:59 | 981664 AndrewJackson
AndrewJackson's picture

The fact that the equity market has rallied so much in the face of this much geo political instability, commodity increases, and margin squeeze is beyond me. When this pile of crap finally falls, it is not going to be pretty.

Mon, 02/21/2011 - 12:08 | 981704 Salvatore CFA
Salvatore CFA's picture

<< The fact that the equity market has rallied so much in the face of this much geo political instability, commodity increases, and margin squeeze is beyond me. >>

The [ not so ] invisible hand of the PPT. Alas, however, all good things come to an end, and no, General, it will not be pretty in the least.

Mon, 02/21/2011 - 13:22 | 981972 rosiescenario
rosiescenario's picture

...not that I am that smart or insightful, but after 40+ years of following and investing in the market and having worked for a short only hedge fund a decade ago, this market is surreal, our economy...likewise....and the usual bs flows from D.C....well at least that is a constant.

Mon, 02/21/2011 - 12:00 | 981665 btb2010
btb2010's picture

As the masked man (Lone Ranger) said : Hi-ho, Silver, AWAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Mon, 02/21/2011 - 11:59 | 981666 Prof Gulliver
Prof Gulliver's picture

Geez, the PPT is off today for the holiday. They'll be at their desks Tuesday morning before the market opens.

Mon, 02/21/2011 - 12:02 | 981677 The Count
The Count's picture

Pity those PPT guys and gals that must be sweatin blood to keep the lid on this mess.

Mon, 02/21/2011 - 12:02 | 981681 apberusdisvet
apberusdisvet's picture

Was that a mini raid by Blythe?  Give it up girl.  How much more will Bennie and Timmah support JPM?  All I ask is just one question from a Congressional panel to either of these two idiots:  How much money is JPM in the (ass)hole?

Mon, 02/21/2011 - 12:03 | 981687 CharliePrince
CharliePrince's picture

i need more silver, ill ask blythe

Mon, 02/21/2011 - 12:05 | 981691 camoes
camoes's picture

Commercial Signal Failure BITCHEZ!

Mon, 02/21/2011 - 12:14 | 981722 AndrewJackson
AndrewJackson's picture

The article by trader dan on commercial signal failure is a must read.

Mon, 02/21/2011 - 13:55 | 982134 Gordon Freeman
Gordon Freeman's picture

Indeed--many thanks!

Mon, 02/21/2011 - 12:06 | 981693 Dapper Dan
Dapper Dan's picture

I do not like the complete silence from the white house, this worries me very much.

Am I missing something?  Has Jay Carney had his baptism of fire yet?

I have an old T.V. and may have missed him.

Mon, 02/21/2011 - 19:44 | 983355 StychoKiller
StychoKiller's picture

Opening their mouths and flappin' their gums is almost as important as breathing to a Pol, guess they're havin' a tough time trying to find something good to say re:  Mommar Kaddafi.

Mon, 02/21/2011 - 12:09 | 981695 Ecoman11
Ecoman11's picture

Poor Comex. Can you imagine how many investors will take delivery this week? I think James Turk said it best when he stated that it's not about price, it's about ownership now.

Mon, 02/21/2011 - 12:22 | 981739 Amish Hacker
Amish Hacker's picture

Just for fun, I think I'll go back and re-read some of last week's blogs from the FRN bulls explaining how the backwardation in the silver market really didn't mean that anything important was in the works.

Mon, 02/21/2011 - 13:13 | 981925 traderjoe
traderjoe's picture

The silver trolls do seem to be a bit scarce at the moment...

As an aside, while I am FRN bear and a hard asset/sound money/even Treasury Greenback bull, I take no pleasure today in the rise of silver and gold. No only is it coming on the back of real pain and suffering around the globe and at home, I really am only keeping up with the rise in oil (which is the ultimate commodity, but I can't take possession in the same way). I'd much rather not have BB printing money as a 'last bastion of failed economic policies and Banana Republics' (see QE2 bears). But, he will continue to print. Print us right over the cliff...

Mon, 02/21/2011 - 12:08 | 981697 Overflow-admin
Overflow-admin's picture

Who said "I like the smell of sith flesh burning"?

Mon, 02/21/2011 - 12:11 | 981712 Salvatore CFA
Salvatore CFA's picture

Hmm. Allow me to reflect upon this...

...Bernardo Gui ?


Mon, 02/21/2011 - 12:08 | 981706 RobotTrader
RobotTrader's picture

Nothing like a geopolitical "convulsion" to get the wildebeest herd running pell mell in a panic...


Mon, 02/21/2011 - 12:14 | 981721 monopoly
monopoly's picture

That is a great pic Robot, well done.

Mon, 02/21/2011 - 12:31 | 981759 reload
reload's picture

And just to the right of the picture, out of view, there are a dozen very large Crocodiles.

Mon, 02/21/2011 - 12:56 | 981860 tmosley
tmosley's picture

Who know well enough to stay away for fear of getting trampled to death.

These lions weren't so smart:

Mon, 02/21/2011 - 13:14 | 981935 Sophist Economicus
Sophist Economicus's picture

The one in the upper right looks like Harry

Mon, 02/21/2011 - 12:11 | 981713 Josh Randall
Josh Randall's picture

Princeton can use a guy like Silver

Mon, 02/21/2011 - 12:11 | 981715 monopoly
monopoly's picture

GM all. Well, yes, gold, silver ramping up, but I just keep buying every dip. My physical holdings are not for this year or next year but way down the road, miners, stocks a little different. This is really no change for most of us long term. The dollar is no safe haven and will eventually evaporate, so while we have some nice short term profits here, just swimming with the tide. I never sell my physical.

Think most stocks will decline tomorrow ex. miners. Buy AMZN CMG PCLN on the dip. LMAO> If you all would like I will make the call to Lloyd, Damie and Ben to ensure a green close tomorrow. :) Just let me know. Have a great day all.

But, no shorts.

Mon, 02/21/2011 - 12:17 | 981731 camoes
camoes's picture

Blythe rises from ashes, silver down to 33.5! BTFD lolz

Mon, 02/21/2011 - 12:30 | 981747 Pegasus Muse
Pegasus Muse's picture

And watch how the Longs are bending the Witch over and giving it to her good. 

Immediate ramp up; moving thru 33.66 ... 33.70 .... 33.75.  Already back to the day's high.

LMAO.  Give it to her good.

Mon, 02/21/2011 - 12:44 | 981817 Big Corked Boots
Big Corked Boots's picture

Her reward is $34 silver.

Payback, bitchez.

Mon, 02/21/2011 - 12:23 | 981740 RobotTrader
RobotTrader's picture

And yes, I will be ready to short big when the time comes.  Could be as early as tomorrow.

The key will be to watch how LULU, RL, PNRA, DECK react to this Libyan news.

So far, they have been bucked up even higher each time one of these Middle Eastern countries fall.

But maybe this time will be different.

I will be ready for either outcome.

Mon, 02/21/2011 - 12:30 | 981756 Bendromeda Strain
Bendromeda Strain's picture

Thank goodness, we were worried...

Mon, 02/21/2011 - 13:01 | 981880 tmosley
tmosley's picture

Yeah, do it on margin.  Lots of margin.

When margin comes a-callin', be sure you have a high window you can jump out of.

Mon, 02/21/2011 - 13:05 | 981896 Richard Head
Richard Head's picture

You've got to be shitting me.  Could you come up with 4 more inconsequential stocks?  You might as well throw CROX into that list!

Mon, 02/21/2011 - 13:15 | 981940 traderjoe
traderjoe's picture

Yes, you will be ready with some backward-looking comment on some random stock selected simply to make some half-baked point. Can't wait!

Mon, 02/21/2011 - 15:04 | 982381 lieutenantjohnchard
lieutenantjohnchard's picture

actually, you'll be about ready for every eventuality as you were for silver at $26.50, gold at $1300 and wti at $85.

for all you claim to listen to the market you don't: you're programmed.

Mon, 02/21/2011 - 16:36 | 982664 H. Perowne
H. Perowne's picture

Well, he is a robot after all . . . 

Mon, 02/21/2011 - 12:28 | 981751 johnQpublic
johnQpublic's picture

though i'm pretty damned happy with the forty oz. of silver i got off craigslist for 22 bucks an ounce on saturday, i didnt save any cash for smokes...

Mon, 02/21/2011 - 13:06 | 981891 perchprism
perchprism's picture


Get out!!  $22 an ounce?  I want some of that!!  Just bought 40oz this morning (2 tubes), and I have to say I didn't pay $22 per.  They wanted more, for some reason.

I'm now maxed out on my primary credit card.  I've done my duty.

Mon, 02/21/2011 - 13:35 | 982042 internethobo
internethobo's picture

Make sure you buy your silver on a Chase credit card!

Mon, 02/21/2011 - 13:07 | 981906 tmosley
tmosley's picture

Fake or stolen, more than likely...

Mon, 02/21/2011 - 13:14 | 981936 Richard Head
Richard Head's picture

I've seen some silver bars for sale on craigslist stampd with the names of obscure refineries.   Pass.  I'd rather stick to reputable dealers. 

Mon, 02/21/2011 - 12:36 | 981761 Ecoman11
Ecoman11's picture

At this point, Blyth Masters sounds like a great pornstar name. Don't you guys agree?

Vivid presents - Long John Silver featuring Blyth Masters in Take The Fuckin Dip

Mon, 02/21/2011 - 12:41 | 981796 camoes
camoes's picture


Mon, 02/21/2011 - 13:34 | 982036 BearOfNH
BearOfNH's picture

Almost. Make that Long Dong Silver. And if that's a new term to you, you need to watch more SNL reruns.

Mon, 02/21/2011 - 13:49 | 982107 Fazzie
Fazzie's picture

A spaghetti western themed porno titled "The long The Short and the Screwed" would be nice. In fact the witch might be hard up for work before long.

Mon, 02/21/2011 - 12:33 | 981766 FranSix
FranSix's picture

The subtle irony here is that if and when the discount rate plunges sub-zero, and the spigot is perforce summarily switched off, the reason cited will be that printing money was never their role in the economy.

Mon, 02/21/2011 - 12:40 | 981793 camoes
camoes's picture

Almost 34!!! 0.01 more!!!!

Mon, 02/21/2011 - 12:42 | 981795 redpill
redpill's picture

Silver about to bust through $34! Light the candle bitches, she's going orbital!

Mon, 02/21/2011 - 12:42 | 981801 Harmonious_Diss...
Harmonious_Dissonance's picture

Next stop: MARS!

Mon, 02/21/2011 - 12:42 | 981799 99er
Mon, 02/21/2011 - 12:44 | 981814 fuu
fuu's picture

33.94 $1.26 up from Friday's close. Still a lot of market left today as well.

Mon, 02/21/2011 - 12:46 | 981818 DavidC
DavidC's picture

Hmmm, funny thing - I can't get a price on my spreadbet companies on the US indices without telephoning for a price...


Mon, 02/21/2011 - 12:46 | 981820 nmewn
nmewn's picture

Look at it go!

Oooh baby baby baby...LOL.

Mon, 02/21/2011 - 12:49 | 981823 Ecoman11
Ecoman11's picture

34 in T-minus....

Mon, 02/21/2011 - 12:51 | 981841 SuperRay
SuperRay's picture

hey, monopoly, are you the monopoly from sharkinvesting? can't keep up with you. smart to have left equities and focus on PM's. 

Mon, 02/21/2011 - 13:01 | 981878 camoes
camoes's picture

And poof it's gone!!!! F$^(#$)^#( 34 BITCHEZ!@!!

Mon, 02/21/2011 - 13:01 | 981881 RED BARRON
RED BARRON's picture

Stocks are due to top out Friday,February 25,2011 based on the 164 day cycle they have been following the last 4 years.  Also the pattern is textbook Bear Crab.  SPX projects 950.

Silver will get hammered harder than anyone is expecting, starting Friday, or Monday.  Gold has a 16 week cycle, and silver has an 18 week cycle.  Both silver and gold should bottom in June.  An explosive rally should occur after all the weak longs get taken out.  Most would expect silver to hold the 200 dma or 200 ema,but again,weak longs will be taken out trying to bottom fish.  Therefore I conclude silver will trade $23.00 before $40.00 and gold will trade $1040 before $1540.

I have been trading COMEX copper,silver, and gold since 1972 when silver was $2.00 and copper 33cents.  I think it is very possible for a "system failure" Monday or Tuesday next week, where stops get filled three to five dollars lower than placed on silver.

I highly suggest trading SPOT SILVER and staying away from COMEX.

Mon, 02/21/2011 - 13:14 | 981930 perchprism
perchprism's picture


Man, you're smoking hash.  I used to put a chunk on a pin stuck thru a paperback book cover, then cover it with a jar.  Just light it up, let the jar get smokey, then tilt the jar and suck it all up sooooooooooosh!!!   The problem is, after a while you get paranoid.   That was in the '70's.   Honestly, I don't do it anymore.

Mon, 02/21/2011 - 13:28 | 981997 traderjoe
traderjoe's picture

$23 before $40? Nah. Too much demand on the physical side. Too many people wanting in. While I would agree there might be a possible sell-off in a "risk-off" move, there's the very real possibility of the opposite. Fiat is getting trashed around the world. Any demand from scared investors will simply overwhelm physical supply. The PM markets are much smaller then the fiat markets. 

Mon, 02/21/2011 - 13:04 | 981895 montanassky
montanassky's picture

2000 slv 35 calls soon will be in the money for me.

Mon, 02/21/2011 - 13:34 | 982029 Bastiat
Bastiat's picture

The Ewoks will be showing up at EE Comex to negotiate their premiums for cash settlement.

Mon, 02/21/2011 - 13:52 | 982117 Bansters-in-my-...
Bansters-in-my- feces's picture

Oh..HarryWanger.....Where are you???,come out come out where ever you are.....

Your favourite food is on sale today.

Mon, 02/21/2011 - 14:54 | 982337 The Axe
The Axe's picture

sp only down 12 points...joke....

Mon, 02/21/2011 - 16:27 | 982627 John Law Lives
John Law Lives's picture

The Fed makes the rules.

Mon, 02/21/2011 - 14:54 | 982338 The Axe
The Axe's picture

Harry is a troll,,beyond any troll

Mon, 02/21/2011 - 16:26 | 982625 John Law Lives
John Law Lives's picture

Harry is not real.  Harry is a caricature of a troll.

Mon, 02/21/2011 - 16:41 | 982683 Hephasteus
Hephasteus's picture

Harry Wanger is a symbol. He's a symbol of the harry wanger trying to get inside all of us but that we keep cock blocking. He's a symbol for the limitations of stupidity disease transmission.

Mon, 02/21/2011 - 16:25 | 982616 John Law Lives
John Law Lives's picture

POMOs must continue forever.

PPT must pump the markets.

Inflation does not exist.

All revolutions and natural disasters and manmade disasters are priced in.

All your base are belong to us.

Mon, 02/21/2011 - 17:55 | 982974 BenLightYear
BenLightYear's picture

First post just want to say thanks to all the posters

ffor the insight and enjoyment. Just wish i would have

been reading longer so i could have bought in earlier

And of course add my insight into the new diversification

pensions and 401k as stock and silver

for retirement/kids college...and a nice stack of FRn's

for the soon after crash :) 

Mon, 02/21/2011 - 22:45 | 983990 honestann
honestann's picture

In gold we trust.
In silver we trust.

In fiat we... hmmm, we ain't got none of that fiat crap any more!

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