Think Or Swim Hikes Silver Margin To Double That Of CME

Tyler Durden's picture

On Friday we reported that MF Global hiked silver margins to roughly $25k per contract (following the CME's own two consecutive margin hikes of 9% and 10%). On Sunday night, not letting any public hysteria go to waste, Think or Swim follows suit and hikes the /SI margin to $30,037.50 and $6,007.50 for the /YI. At this point there is an outright scramble to get anyone with margin out of precious metals positions, which of course in the long run will merely reinforce the holding hands.

h/t Biff Malibu

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slow_roast's picture

I used to respect TOS; now I wonder who's dick they're sucking.

whatsinaname's picture

have been keenly waiting for a pullback. any suggestions on good reliable places to get physical silver ?

slow_roast's picture

How much do you want to spend?  If it's less than $20-30k use Gainesville, Monarch Preciousl Metals, Provident, or APMEX.  I prefer Gainesville as their prices are usually the best.


Tulving gets most of my money now.  Their premiums, policies, help, and everything are great.  If you want 500oz Ag or 20oz Au they're the go to guys.

jclarkv's picture

Ditto Tulving. They only sell what they have in their warehouse. No delivery times to be names later.

skeptik's picture

Try nucleo exchange at bullion direct for the best prices

1% transaction fee plus shipping/handling

Firing Pin's picture

Don't forget TMG (; usually among the lowest in premiums for small-med. orders. Tulving is good for big orders ($25K +)

Stonecold's picture

Farr Financial

Silver margins are currently at 1.5 times the exchange minimum. 
Day trade margins are not available in the silver market.

fuu's picture

Wow, the desperation is getting thick. 4 hikes in 1 week, 5 in the last 2. $50 must be vulnerable.

Ergo's picture

Wow.  That's the Ameritrade platform.  Wipes out all small time speculators, who used that platform after getting out of their 401k's.  Talk about screwing over their clients.

I recall that during the depths of the fiscal crisis, Ameritrade went off line for some reason.  Guess it's not a good place to keep ones coin. 

lolmao500's picture

Those freaking bastards.

The Axe's picture

Never bring a knife to a gun fight...Tyler

strannick's picture

Unless that knife is sterling silver

Hephasteus's picture

It'll be a gun in only 6 more easy payments of 29.99 a month.

6 String's picture

The lower silver goes the faster the physical inventory merely gets depleted. It's a very bullish thing for longer term silver investors.

The paper game is just that, a game. Played long enough they simply lose. The faster they push silver down the faster COMEX gets fucked.

Gold 36000's picture

chirp chirp says the lone cricket then silence.

silverstud's picture

well even, if I speak for myself, there are now at least two crickets going out and buying physical today "chirp, chirp, chirp"

The Perth Mint was so busy I could not get through on the phone - had to buy through my online account. "chirp, chirp"

Ozzie Scott


disabledvet's picture

in theory.  in practice "you need cash to trade silver."  since there is oceans of silver out there that's the way it "shouldn't be" however.  obviously "it's impossible to raise margin requirements on gold."

FIAT_FixItAgainTony's picture

damn, the "oceans of silver" by me have evaporated into scratch and dents, worn to hell or nice and 20%+ over spot.

checked apmex earlier today and i saw zero ase's available from 2000 to 2009.

guess that's why they were looking to buy them +$3.

my coin guys have been selling gold, since silver is so scare around here!

consider yourself blessed you have local availability.

Doña K's picture

It is a desparate move on their part. It will backfire as any sane person will realize that the margin is as high as geting the real thing in your hands. So yes, more traders will switch to buy and hold, which will create shortage of physical.

Additionally, industries that use the stuff will find it less volatile to hedge with physical. Hence no matter how you slice it, it will get hard to buy physical. They know it, but they are snookered.

Viva los federales /sarc

Gold 36000's picture

wow some people is going to take it up the kazoo there sure were a lot of dumb posts recently from people just getting into the market if any of those guys were real and even dumber posts from people saying they are going to buy more silver at 42 and 45 I do not know what to think about that.  Did you guys really encourage the dumb fuckers who just now noticed silver to buy in the high 40's?  Whenever I see people saying silver 250 and even banner ads for silver 250 on zero hedge then something is going to happen and it probably is not something good.

tmosley's picture

Why not?  I'm still buying.

And I don't know how many times this needs to be said--Zerohedge is NOT THE FUCKING STREET.  Stop pretending like it is, and using the sentiment here as a contrarian indicator.  If you could do that, then silver never would have gotten past $20.

Use ZH as a contrarian indicator at your own peril.  The peril is the same as taking a gun that you have been told by several people is loaded, turning off the safety, putting it to your head, and pulling the trigger.  Maybe you will be lucky, but probably not.

Also, the banner ads on ZH are contextual, and are controlled not only by the content of the page, but by your own cookies.  If Cramer is mentioned in a thread, ads for "Trading with Cramer" or whatever will pop up, even if they are calling his a dumbshit cockmaster.

disabledvet's picture

never done this before here but: ++

FIAT_FixItAgainTony's picture

glad i use ad blocker +, i never see any third-party ads on any sites!

Doña K's picture

@Gold 3600.

Only a temporary setback, especially when we are talking physical. 

strannick's picture

I dont know which is harder to believe, that $250 silver is coming, or that 73 USDX is still here.

fonestar's picture

Yeah I am one of those "dumb fuckers" who was buying at $16/oz, buying at $30/oz and buying at $45/oz too.  Do you know when I am going to stop buying?  When all four conditions are met:


1)  The Federal Reserve is no longer in charge of monetary policy.

2)  The US Treasury market has been totally and completely anhilated.

3)  Any and all attempts to manipulate PM's markets has ceased.

4)  The stock market is no longer used to measure the real world economy.


So what's your point dipshit??

FIAT_FixItAgainTony's picture

absol-f-n-lutely.  it's the value and number of ounces at the end of the day.  the alleged frn price is pretty much irrelevant, other than to know if you have enough of them to make a purchase.

i bought at $11, $13, $15, $16, $17, $18, $19, $21, $22, $24, $26, $27, $28, $30, $32, $33, $34, $35, $36, $42 and $46 acording to my logs.

right now i see a dip to buy, but:

a) my local market is pretty much out of silver.

b) no frn's in wallet because my last purchase was gold actually!

i will continue to buy as i can/need to.

paper ponzi ends someday and it will one hard crash!

remember, corporatists (fascists) run this formerly free country!

i agree a minimum of 4 things must end just like fonestar said.

silverstud's picture

even "small" auction houses like South Africa's Bid or Buy are now experiencing growing premiums on the spot. Hell, a year ago I was buying hundreds of South African silver crowns with half an ounce of silver for seventy rand... now I can't get them for under two hundred rand.. when they actually come up for auction!

That's reality... not this crap called naked shorts.

Ozzie Scott


Hephasteus's picture

I told you it's coming from everywhere. It's in every country in every place.

Who are they figting. Everyone.

no2foreclosures's picture

And a fifth condition: When you get 3 people calling and telling you on the same day to buy silver.

Teamtc321's picture

The first present I bought my son in 1986 when he was born was physical silver. So some people are looking at years there dipshit, not tonight or next week.

Guess Im a dumb fuck to, oh well. I can sleep tonight I'm sure.


RafterManFMJ's picture

Hell, I like you. You can come over to my house and fuck my sister.

spelledwrong's picture

You climb obstacles like old people fuck.

Papasmurf's picture

I was buying gold at $362. Where were you?

Mec-sick-o's picture

At least by ratios, Silver is still cheap vs Gold and other metals.

monopoly's picture

They are running scared, that is for sure. When this reverses, look out. Going to be interesting.

TaxSlave's picture

Drop, drop!  Waiting to BTFD.  Junk, please. (As in quarters and dollars.)

Captain Benny's picture

Oh man, we're setting the stage for the mother of all squeezes.   Lets just keep stepping it up toward a cash-only market and get it done with.

cossack55's picture

Roger that. Take it to 100%, fuck a weak hand.

Gold 36000's picture

Die you silver longs die!

Rynak's picture

You know, when you make posts that can alternatively be viewed as sarkasm, i actually like them for a good laugh :) NOT junked.