Silver Retraces Two Thirds Of Overnight Hit Job, Crude At Highest Since August 2008

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Mon, 05/02/2011 - 10:05 | 1229252 bob_dabolina
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RBOB just hit a new high so all the walmart shoppers should appreciate that.

Mon, 05/02/2011 - 10:47 | 1229493 What does it al...
What does it all mean's picture

45->49 => 50 is close

49->45 => Correction is inevitable

48->42 => Nothing

42->46 => 50% retracement is onboard.

Why don't ZH admit that Silver is being manipulated like Bush in the White house, and that no amount of buy and hope will work...

Mon, 05/02/2011 - 11:21 | 1229712 H. Perowne
H. Perowne's picture

You really need to pay more attention if you think that anyone here who isn't a paid shill doesn't think that the PM markets are more manipulated than the CPI. The point is that the usual tricks which have served our beloved bankstas so well are no longer working, and it's taking more and more juice just to buy Blythe and Co a precious few hours of breathing room. The weekend snowjob was nothing more than a fire sale to anyone who gets the big picture. But hey, enjoy being wrong, you've got plenty of company.

Mon, 05/02/2011 - 13:27 | 1230547 Long-John-Silver
Long-John-Silver's picture

I would love to know how many tons of physical Silver was purchased during this dip.

Mon, 05/02/2011 - 13:33 | 1230565 What does it al...
What does it all mean's picture

NONE.  It happened between 6pm yesterday to 9am this morning.  

Mon, 05/02/2011 - 13:53 | 1230683 Richard Head
Richard Head's picture

Hey dumb fuck!  I bought more than a few ounces of physical.  Didn't matter what time it was.  I'm sure I was not alone.

Mon, 05/02/2011 - 15:27 | 1231159 What does it al...
What does it all mean's picture


From Sunday 6pm to this morning, you bought physical.  Where, how much and in what continent?

Maybe you placed an order over the internet, but I highly doubt it. 

Mon, 05/02/2011 - 13:32 | 1230563 What does it al...
What does it all mean's picture

My point is, on this topic, ZH itself is a manipulator.  (I understand that there are bull/bear in every market.)  But the way that ZH posts these news... not even pretending to be bias-free.

Mon, 05/02/2011 - 13:31 | 1230571 tmosley
tmosley's picture

I guess you get your fair and balanced from Fox, then?

Why should they PRETEND to be bias free?  No-one is bias free.

Mon, 05/02/2011 - 15:42 | 1231168 What does it al...
What does it all mean's picture

Fair enough, but in general, with regard to the banks, GSEs, Financial Reform, ZH seems to be pretty fair and breaking news left and right.  With regard to silver and gold, they lie, tilt and generally one-sided.


Case in point, look at this post's headline...  and the tag says crude, it has nothing about Crude...

47->43 => Nothing...

Mon, 05/02/2011 - 12:46 | 1229722 GoinFawr
GoinFawr's picture

OTOH: is it really wise to go against potentially thousands of millions of motivated people with 50 bucks, a singular purpose, and the will to get it done?

Mon, 05/02/2011 - 13:32 | 1230582 What does it al...
What does it all mean's picture

Forget about the blatant assumption that you are making...  What you are really saying is:  All Market display effcient prices, and none of the movements matter...

Mon, 05/02/2011 - 11:48 | 1229921 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Oh yeah, thanks for enlightening us about manipulation there, Master Yoda.


Picard Facepalm

Mon, 05/02/2011 - 10:09 | 1229291 LRC Fan
LRC Fan's picture

But I thought Bush said you're either with us or against us.  Does this mean I cannot trust my respected leaders? 

Mon, 05/02/2011 - 10:11 | 1229301 Sophist Economicus
Sophist Economicus's picture

Not leaders, paid 'public' servants.....They seem to get it confused too

Mon, 05/02/2011 - 10:30 | 1229416 Datafox
Datafox's picture

Just a bully tactic.

I say eliminate the threat and let others choose their sides. Eventually they may grow up and see the folly of their ways. If not... Well, then they will choose to stay in the dark ages and we'll still be free.

Mon, 05/02/2011 - 10:32 | 1229422 oddjob
oddjob's picture

What we need is another Gartman sell rec. on gold for another $65 dollar gain.

Mon, 05/02/2011 - 10:42 | 1229460 Josh Randall
Josh Randall's picture

Hey WANG, whats with the pictures it's a parking lot? C'mon will ya....

Mon, 05/02/2011 - 12:12 | 1230108 kito
kito's picture

the sheeple get up at 4am for the kohls one day store sale. im up at 4am to buy the jp morgan one day silver sale.

Mon, 05/02/2011 - 10:03 | 1229253 Dangertime
Dangertime's picture

Things that make you go hmmmmm

2004-(5) - Silver goes from $4.50 to $8.25 in 9 months for an 83% gain.  Silver then crashes almost 30% to $5.50 in six weeks.

2005-(6) - Silver goes from $6.50 to $15 in 9 months for a 130% gain.  Silver then collapses 35% to $9.50 over a brutal eight weeks.

2007-(8) - Silver goes from $11.50 to $21 in 7 months for an 83% gain.  Silver then gets crushed by 25% to $16 over six weeks.

2010-(11) - Silver goes from $18 to $49 in 8 months for a 172% gain.  Silver then crashes x% for a loss of $yy over six weeks.

I wonder how the pattern will complete this time.

Mon, 05/02/2011 - 10:11 | 1229286 Raynja
Raynja's picture

I'm petty sure everyone here already knows you don't sell the dips, you buy them. Thanks for the additional evidence of this!

Mon, 05/02/2011 - 10:12 | 1229311 Dangertime
Dangertime's picture

Buy the dips, but don't forget to sell the mania rallies!

I bet this dip has a lot more dipping to go.

Mon, 05/02/2011 - 10:42 | 1229475 Raynja
Raynja's picture

True silver could dip further, but why is it going to dip more than previous corrections when it is in backwardation and the dollar is falling?

Mon, 05/02/2011 - 10:48 | 1229512 Dangertime
Dangertime's picture

Dollar has been falling all decade.  Yet silver made those same corrections.

Mon, 05/02/2011 - 12:30 | 1230189 Temporalist
Temporalist's picture

That is the biggest bunch of bullshit you've spouted out of your blowhole.  The dollar chart looks like a rollercoaster of manipulation and throughout it all people have been calling a bubble in the PMs...just like you.  The DXY isn't even down to the lows of 2008...yet.  It's getting closer every day though.  That's fear and sharts.

Mon, 05/02/2011 - 12:32 | 1230219 Dangertime
Dangertime's picture

Wait, so the dollar is a roller coaster but Silver IS NOT???

Talk about blind.

Mon, 05/02/2011 - 13:34 | 1230590 tmosley
tmosley's picture

Roller coasters go up and down, but they are biased downward, as they are driven by gravity.

Silver is biased upwards, but only because the ground is falling away from below it.  That is because it is entering orbit.

Good luck catching up.

Mon, 05/02/2011 - 13:47 | 1230664 Dangertime
Dangertime's picture

But in both directions they go.  Why not wait for silver to fall to the low $30's before buying any more?

Mon, 05/02/2011 - 14:03 | 1230766 tmosley
tmosley's picture

Because the wait could be forever.  I would rather dollar cost average.

But I'm sure you wouldn't understand that logic, as you only know 100% immediate commitment in a single direction that you change on a dime for no real reason other than a "feeling" that the price is "parabolicky".

Mon, 05/02/2011 - 14:09 | 1230794 Dangertime
Dangertime's picture

And yet, here you are, holding a $49 bag.

How's that working for ya?

Mon, 05/02/2011 - 10:55 | 1229546 Hot Piece of Bass
Hot Piece of Bass's picture

Is anybody running a tally on this guy's bad calls/losses?

Mon, 05/02/2011 - 11:04 | 1229594 Dangertime
Dangertime's picture

I'm actually very green on my silver puts.  Almost 20k at the moment.

Mon, 05/02/2011 - 11:40 | 1229874 GoinFawr
GoinFawr's picture

Bull. Shit.

You're not fooling anyone.

Mon, 05/02/2011 - 11:51 | 1229951 Dangertime
Dangertime's picture

If you say so.  I loaded up at the open a week ago today, turned out to be a great call.

Mon, 05/02/2011 - 11:55 | 1230005 tmosley
tmosley's picture

Yeah, except you aren't covering, because like a fool you think it is going to the low $30's.

Enjoy your total losses, knife catcher.

Christ, and you call US inexperienced.

Mon, 05/02/2011 - 12:34 | 1230233 Dangertime
Dangertime's picture

I'm sweet green buddy.  Remember the morning I bought a shit-ton of puts after it reached $49 in asia?

Or did you conveniently forget that?

Mon, 05/02/2011 - 13:38 | 1230597 tmosley
tmosley's picture

Did you sell them?

An experienced trader knows you don't have profits until you book them.  You are waiting for silver to hit the low 30's.

Mon, 05/02/2011 - 13:48 | 1230671 Dangertime
Dangertime's picture

A person experienced with Silver knows that selling Puts now is WAY too early.

Mon, 05/02/2011 - 14:04 | 1230774 tmosley
tmosley's picture

Exactly.  You are 100% bearish.  In a ten year bull market.  In a collapsing dollar environment.

You are going to make a trillion dollars, but you won't be able to buy a cup of coffee.

Mon, 05/02/2011 - 14:10 | 1230802 Dangertime
Dangertime's picture

Bull markets have pauses and corrections.

An experienced investor can spot them, and profit accordingly.

Mon, 05/02/2011 - 10:58 | 1229575 JohnG
JohnG's picture

You just lost that bet moron.

Mon, 05/02/2011 - 11:01 | 1229588 Dangertime
Dangertime's picture

And you think this dip only lasts a day?

Mon, 05/02/2011 - 11:37 | 1229865 tmosley
tmosley's picture

Uhh, yeah.  Looks like it.


Mon, 05/02/2011 - 11:52 | 1229954 Dangertime
Dangertime's picture

Timing is everything.  The next couple of days will tell us if the dip lasts longer.

Mon, 05/02/2011 - 10:09 | 1229288 Bay of Pigs
Bay of Pigs's picture

Funny you get junked for stating the facts. Must be people from Mish's or KD's boards coming over to tell us all that silver is all done and the bubble has been popped. 


Mon, 05/02/2011 - 10:16 | 1229321 Dangertime
Dangertime's picture

People love beautiful lies and hate the ugly truth.

Mon, 05/02/2011 - 10:18 | 1229338 tmosley
tmosley's picture

Yup.  Now you only need it to fall another 40% to be able to afford the same amount of physical silver you sold after all that capital gain you realized.

How's that for an ugly truth?


Mon, 05/02/2011 - 10:25 | 1229385 Dangertime
Dangertime's picture

Only rookies bet in one direction.

My silver gains went into silver puts to pillage you amateurs in both directions.

God I hope none of you are buying, because this is going to get very ugly for you.

Mon, 05/02/2011 - 10:29 | 1229399 Bicycle Repairman
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Dangertime, get bent.

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