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So Much For Reduced Volatility - Commodity Complex Slides Again
And following the overnight set of news which confirms our January assumption that the keyword of 2011 will be "stagflation" the entire commodity complex once again slides. It is unclear if the move is predicated more by fears of inflation or of economic contraction. After hitting almost $40 overnight, Silver has once again taken the daily tumble back to the sub $37 level. The catalyst today is crude, following the DOE announcement that crude inventories surged to 3,871K barrels on expectations of 1,500K, and Cushing inventory hitting 1,124K compared to 102K previously. WTI slides to sub $101, even with the latest series of margin hikes which purportedly is supposed to mitigate volatility. So much for that.
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Free gold baby!
We know which evil, hooked nosed, beanie wearing tribe causes this. If I ever get tired of living, I will figure out a way to take LOTS of them with me! They deserve what happens to their Satan worshipping asses!
So why is it that silver takes almost a five percent drop, and gold a .3 percent drop?And according to one site the london fix price is still over 39 dollars?
http://www.24hgold.com/english/gold_silver_prices_charts.aspx?money=USD
And then there's this prediction from Ed Casey, go to bottom of page for his "wrap up"
"I've been watching the overnight markets with more than the usual amount of interest. Both gold and silver were up nicely during the Far East trading day...right until London opened at 8:00 a.m. local time...3:00 a.m. Eastern time. Then both metals began to get sold off. It's not too serious at the moment, but it bears watching.
The reason I'm somewhat concerned, is that silver's 50-day moving average was penetrated to the upside during the Far East trading session earlier today...and it remains to be seen whether the technical funds will come back on the long side of this trade...and whether the funds that went short during this latest smash-down will begin to cover.
If they don't, we could have a 'failed' rally at silver's 50-day m.a....and the technical analysts will have a field day with that...even if the event itself is manufactured by the bullion banks. We'll have a much better idea of what's in store as the Wednesday trading day unfolds...especially in New York."
http://www.caseyresearch.com/gsd/home#subnode-section-in_short
I don't understand this, don't the funds have to cover their short position if the price goes up and not down? Obviously Casey's prediction happened, the funds didn't cover and we have a "failed" rally. I would like to understand the mechanics of this, since it silver is again crashing, There's really no news for this to happen. It doesn't have anything to do with commodity prices, IMO.
Fibonacci retracement. Retraced 38.2 of the drop from the top to last weeks bottom and stopped right their at 39.50.
No manipulation just the way the universe works except for those that hold physical they don't care what the price is apparently.
10yr today......very excited and looking for another "on the verge" moment!!
Well I just bought 100oz at 35.21 plus 1.20 premium...all i could afford. Not going to wait for it to drop further
Yep guess i was wrong about silver hitting forty anytime soon.
Retest of the 100 dma. Place your bets!
The "word" is = accumulate.
Hey tyler the margin hikes are being used to mitigate the effects of volatility (reduce the risk of particpants blowing up) and not mitigate volatility (prices violently going up and down in the underlying contract).
Just another piece of mathematical evidence that the margin increases were warranted and meant to protect all the particpants of the market
Looking at Kitco's bullion for sale link.
26 different gold items for sale, plenty of eagles and maple leafs
6 different silver items for sale, and one is MS 70 Silver Eagles at $84 an ounce. No eagles, no maple leafs, jush Kola's and Philharmonics
And nothing for us Canucks at Kitco, unless you want 1000oz bar...
I think some stock will come in (as only a will few get scared)- but it will be very low and it will go fast--->
Fried(e)
Lemme see.......yep, all the sparkly non-paper stuff is still there.......
The EIGHT(8) essential 'P''s boys(and girls)
PMs...
P()ssy...
Pot...
Pistols...
Property...
Plants(&seeds)...
Provisions(food)...
& Poker
Thats all you need:-)
Fried(e)
how high are you right now?
lol...I'm comfortably numb(at work)...
Hey, we have good produce in Ontario...'Good things grow in Ontario' (as the saying goes).
I believe we have the most land per person (1 sq km per person i last heard) and great natural resources...
And in the future, you will see more people trying to get into Canada...then leave it...
Fried(e)
a fool recognizes a fool sir.
Perfect, I will keep that in mind for next time.(no point)
Fried(e)
Phideaux (faithful canine companion)
I was expecting 'them' to use margin hikes to kill the energy complex as they did with Silver but we can see how they will kill the energy complex. They will do it with fraudulent manipulated data instead.
Tacoma Narrows Bridge. At least to me, it felt that every big downturn the market took was preceded by at least one asset class entering into a phase of heightened volatility. Not the fake VIX kind which is directional, but real volatility, where the assets rips up, crashes down, and the amplitude increases until the system breaks down and drags other assets with them.
tacoma narrows bridge collapse
http://www.youtube.com/watch?v=j-zczJXSxnw
I wish. This place could use a good comet impact. Unfortunately said comet has to deal with physics.
in war everything is fair..investing in PM's is going to war with the FED and the fiat system.
they will fight the common man to avoid the loss of Fed power and fiat strangle hold
we are seeing a battle in the war this battle should have a name..lets see how about:
the battle of the FRN at debt limit hill 5/11/11..
there will be many more such battles..this is for our freedom from the elite fiat paper princes
some here understand we are at the edge, and this is war.
the battle is measured in the loss of fiat value-buy PM's each time you do we win-some will profit from this war but some always do.
Next support for SLV looks like 34. Another day like this and we breach that support and another passel of bulls throws in the towel.
Too volatile for me although I love AGQ. I am going to amble over to the DGP table and wait a few hands.
Just came back from a vacation, what is going on with the silver??
39 to 35.50 in one half day, was there any sign? :O
I see gold went down to 1500 also, rate hikes in the works?
go back on vacation.
38.2 Fib retracement of first leg down last week to 39.50 and then wam, so yes their is/was a sign brought to you by Mr. Fibonacci.
No rate hike, but me thinks the brakes go on monetization.
http://thesheepletimes.com/2011/04/30/bernanke-sends-signal-to-carry-trade-speculators/
What is currantly being done to destroy the fiat silver, has already happened to the fiat dollar. Wish I could buy silver for spot prices. The disconnect seems to be a trend upwards for actual silver. Not sure how there could be a debate on this obvious trend. No offence Bothsidesnow, there seems to be only one side currantly. I could choose a silver dollar worth 35 dollars, give or take, or a fiat dollar that would buy a candy bar that cost me a nickel in 1965.
Not taking it personally, all along I recommended to everyone to hedge physical with paper shorts so you would have FRN's to buy more physical when the destruction is over.
"all along I recommended......" yeah the ENTIRE 8 WEEKS you've been on this site. TM is right, this place is getting slammed with Trolls. Getting so I can't stand to read the comments to articles anymore, it's a shame.
Boy...those CME margin hikes have really reigned in all of the the excess volitility huh?
Oh wait....nevermind.
Posted Feb 16, 2011:
When DOW/S&P500 correction gathers momentum, I expect:
UP ~ USD, various USDXXX currencies, VIX Index
DOWN ~ EURUSD, AUDUSD, NZDUSD, GOLD/SILVER, Base metals like COPPER etc, CRUDE OIL.
http://stockmarket618.wordpress.com
Silver is in BIG TROUBLE!
So is the FRN
The born losers feeling sqeamish yet again.
they are predicting silver to 25 in India...
Why would fears of inflation cause real items to tank?! Anyway, buy, buy, buy the physical. Silver going to triple digits within two years!
Tuco Benedicto Pacifico Juan Maria Ramirez
25... markets are closed here in europe but maybe ill start shorting paper silver when the markets reopen and the smoke clears.
Who are they btw?
Paper markets in commodities, created to smooth out price volatility for commodity producers, have been taken over by large players pumping & dumping prices for profits with no regard for the underlying commodity nor producer. Large players pumping & dumping the paper silver market couldn't care less about silver.
Position limits would stop this kind of market abuse, but position limits aren't enforced on big players, the very people those position limits are intended for.
Rules prohibiting naked shorting would stop this kind of market abuse, but rules prohibiting naked shorting aren't enforced on big players, the very people those rules are intended for.
Rules requiring delivery of the commodity would stop this kind of market abuse, but rules requiring delivery of the commodity aren't enforced on big players, the very people those rules are intended for.
Silver rises steadily via natural market forces, then large players (JPM?) come in with huge (Fed-funded) naked shorts hammering it down, making money on the way down, then going long, riding it back up for more profits.
Then all manner of trolls come on ZH crowing how silver was merely a bubble that burst.
No, it wasn't a bubble. It was the victim of a massive pump-&-dump, actually just the dump part, likely by the very people employing those trolls in some cases.
Oil is going though it. Refineries are swimming in refined oil products (gasoline, diesel fuel, etc), due to demand collapse, but oil futures are being pumped higher and higher by large players purely for profits, and will be dumped, also for profits.
Pump & Dump will have to be outlawed if any market is to regain any resemblence to reality. Position limits, naked shorting bans, and commodity delivery requirements, rules already on the books, will have to be enforced.
(And they'd have to start with the Fed, the biggest pump-&-dumper of all, pumping & dumping the entire US economy for its bankster owners.)
I'm not a "they should ..." sorta person. I don't live in that fantasy world.
I live in the real world where none of that rosy "they should ..." stuff is being done (nor will be done).
Markets have become dens of thievery where producers and small players are robbed repeatedly in large-player pump & dumps.
THAT'S why producers and small players have to stay out of those markets now, markets originally created to help them.
ha!
all these stop-losses, put options, buying paper on margin instead of physical...
they're all bullshit and will cost you a lot of money in this market
just buy the physical and sit on it - if the dollar hasn't lost at least another third of its purchasing power over the next 2 years, i'll eat my hat
I am long physical silver and gold but can someone explain this information to me below. Would JP Morgan's short positions show up in these reports
Thanks
Here’s yet another piece of data that conflicts with claims that JP Morgan has massive financial exposure to silver on the short side – their recently filed 10q, which includes a distribution chart showing their daily trading profit. I’d write “profit and loss” but there were no losses – despite silver’s hefty gain during the quarter.
JPM Q1 PnL Distribution
And the chart of silver during the quarter:
Silver, Q1, 2011
Now, you can do the math on your own, and try to rationalize ways in which $JPM could be carrying a billion or multi-billion ounce net short position in silver and still have made money on every single day last quarter, but you’ll be deceiving yourself.
... try to rationalize ways in which $JPM could be carrying a billion or multi-billion ounce net short position in silver and still have made money on every single day last quarter ...
Maybe because losses on shorts aren't realized on the P&L till shorts are closed out (covered)?
I went went to Scottsdale silver site..they are advertising a special deal for everyone to buy physical to expose the scam.
http://store.scottsdalesilver.com/product/38/1-Troy-Ounce---Special-Offering---Our-Choice-%28Free-Ship-Item%29---2-Week-Estimate
Wow you really are gullible.
Beyond theater of the absurd now.
Says the guy with at least a dozen sock puppets that he has talking to each other.
If you haven't seen it yet, here's a hilarious animation about Americans and how they are being hosed by their government: http://thesilvergoldhedge.blogspot.com/2011/05/join-sla-to-get-even-and-...
When you get a single cycle turning bearish, they can be overcome by other bullish cycles, (ie intermarket analysis). But when you have three important cycles turn bearish, game on....see here
http://www.readtheticker.com/Pages/Blog1.aspx?65tf=205_cycles-say-the-bears-are-about-to-roar-2011-05
A funny thing about price controls: they backfire. Weak hands replaced by strong hands on the Crimex. Fire sale on physical silver. Asian buyers hoovering up all they can (watch the price action in the asian markets) - can you blame them with the "official" +5%, "unofficial" +?% inflation they've got? Chinese, having invented paper money, and having endured many currency collapses, intuitively understand the value of PMs (they've even tried using iron as money for chrissakes, imagine dropping a 50 lb load of iron ingots for a case of Bud Lite).
As far as I'm concerned, I love the Crimex. They are allowing me to buy tons of physical at a lower price (however, only from dealers stupid enough to peg their limited inventory to Crimex spot prices, which are becoming fewer and fewer these days).
Bring it on JPM, you're riding bitch this time.
Dealers do not have to come up with their own spot price. They can adjust their buy and sell premiums to the physical market utilizing the futures market spot price as the base.
Funny comment regarding 50 pound iron "ingot":)
Tuco Benedicto Pacifico Juan Maria Ramirez
It's all about the US dollar, folks, which is rallying again today. The suggested move (not mine) is into cash and bonds. That's what Biggie Ben wants and that's what he'll get. With all due respect to the Turd, silver is not going to bounce at 35, but smash through what is already a triple bottom (see 2010 charts) and head for 28. I begin accumulating at 33. That's been my target since the slide began. I'll be seeing you at the silver counters between 28 and 33, where it might just base out.
Lower than that, buy more lead because the end will be nigh.
3:00 coming fast. Stick save for stocks? I think not today. It's take-down time.
Stocks getting whacked pretty good here too, so no safe refuge if you're a playa' bitchez.
The QE2 ending is being priced in, and until the QE3 is anounced, there will be some good buying opportunities for silver holders. The Stock markets are in for a tough time this summer.
So instead of panic inside of Comex as ZH predict, we have panic inside zerohedge over the collapsing silver price
Seems like 5 margin hikes in a week is a Comex panic. The ZH Panic seems to be self-inflicted (or maybe troll-inflicted).
I would have loved to be a fly-on-the-wall when the Bernanke gave his JPM/Comex buddies a call after he accidentally talked up silver $3.50 in the space of a few minutes (maybe the next Fed press conference will turn out better). I'm sure there was more than a little behind the scenes panic.
Shout out to the "turd" who once again seems to nail the silver action with a good deal of precision (i.e. calling the second dip).
Preparing to back the F-150 up to the silver loading docks.
Good luck finding Silver for anything below $40 though.
I hate to say this (in part because my observation deals with a tool that some have mastered and relied on for so long), but technical, or chart analysis can--at best--only be seen as partially (if at all effective) in these rigged markets. And this is true now more than ever. Look at the impunity with which the bank cartel is doing what it wants to. Look at what happened to crude today, and silver last week. What is happening here has parallels to what is going on in the MENA countries. There, we are watching how government are losing control and, in a response of panic, tightening the noose around the neck of their citizens, turning every official statement into a propaganda declaration, and using psy-ops to get their way (aside from just pure, brut, unethical force and violence. In a similar attempt to control things, banksters here (and the administration) are manipulating facts and events, and they are doing so in ways that are brutally destructive of the middle class. In this environment then, technical chart analysis means far less than it ever did. As long as the CFTC does not restore order to the markets (i.e. end price manipulation), there will be no way to sanely foresee anything; except, that you can bet on the fact that the banksters AND THE ADMINISTRATION ITSELF will continue to jack us around at whim. This will continue until the CFTC puts an end to the at-will actions of the banksters (which is unlikely given their status as part of the "plunge protection team"), or until the markets and/or economy implodes ... or a black swan event happens. Because these (or some derivative thereof) is likely to eventually happen, things will eventually even out, but not without more bloodshed (i.e. financial loses and loose of faith in our government). Read my opinion piece on why the CFTC will do nothing here: http://thesilvergoldhedge.blogspot.com/2011/04/reason-why-cftc-is-doing-... For some levity and my call to action, watch this animation: http://www.youtube.com/watch?v=vs7-yDO6i9Y
What ZH panic? A bunch of guys got caught with their pants down, buying SLV at a moment the invisible hand reached into the "free market".
Just bought the fucking dip myself, wham, bam, and thank you miss Blythe. Another big old bar in the shed.
Or is that mrs.?
hmmm