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Today's Precious Metal Close Banging Moment Brought By The Fine People At The Comex
It's 1:30 pm, the close of trading on the COMEX pit: do you know who is banging the close in your silver?
Silver pits close at 1:25 pm, just as the dump in silver peaked. Gold followed suit, with its 1:30 pm close. This blatant attempt to dump PMs into the pit close and have silver and gold end trading on the books near the lows of the day merely confirms that "someone" is truly desperate to avoid an avalanche of margin calls. Of course, this uber-cheap trick works at best for a day or two.
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Haven't seen the numbers of contracts standing for delivery, though they were supposed to be reported at 1:30. Anyone know where to find the numbers?
4250
4250 committed to delivery wit delivery scheduled (if I understand Harvey Organ correctly), but 10009 still yet to declare. I'm wanting the number who actually stood for delivery at 1:30. (Of course the JP Morgue may try to convince everyone that fiat with a bonus is better than silver in hand.)
Nah, that "10009" figure is the change (decrease) in MAR open interest since the last CME report (was published 2-25-11).
Well, sheee-ite. But thanks for clearing up my misconceptions. Silver still seems like a screaming good deal. Jesse's Cafe Americain has some great graphs showing this...
So I saw open interest on friday at 14k or something like that. And I see on futurestradingcharts that there was only 4k of volume, but yet OI decreased to 4k. How does that happen? Cash settlement?
?
It was down 10k to just over 4k. Not sure about your #s
Friday basis, from Harvey:
As the above poster said, as of Friday, 4000+ contracts were standing for delivery, having place the required funds in their accounts to take delivery. The numbers for today are not out yet to my knowledge. Anyone feel free to correct me if this is not the case.
Latest numbers are from Friday:
http://www.cmegroup.com/daily_bulletin/Section62_Metals_Futures_Products_2011038.pdf
Mar Op Int down 10K to 4250 contracts.
That's lower than what was standing for delivery in December on first-delivery-notice day....
Silver comex lives to fight another day.
And the conspiracy theorists are once again proven wrong.
No shortages, no Comex default, no short squeeze!
But I thought the backwardation meant there was going to be a squeeze when everyone stood in for delivery!
What happened? It must have been manipulation!
You guys are such jokes.
See you back below $20 in a few months.
No short squeeze? What lunatic asylum are you posting from?
Also, the person you are replying to was wrong. There were 4000+ standing for delivery and 10000 who had yet to roll or fund their positions to stand. We won't know the final numbers until tomorrow evening.
You are just another troll corpse on the side of the road.
Can you say "JohnnyBravo 2.0"?
He does remind me of him.
The great Meth Head wields a plethora of diverse and unique Silver bashing! With such an in depth and detailed explanation of your position, Mr. Meth, I do believe you have layed out a case. Duh nah nah nuh nuh nuh, METH MAN!
Hi all, first post. Love the site. Deeply honored to give Meth Man junk # 10. *yay*
For the newbies out there, who happen to read Meth Man's postings and are caught up in his unsubstantiated calls, be aware that there have been many before him who have made the same calls, who earned undeserved respect as market callers, such as; Jon Nadler of Kitco, Jeffery Christian of CME Group, Members of the Federal Reserve and other Central Banks, JP Morgan analysts, HSBC head honchos etc, who have been left with a mouth full of crow. This guy has yet to recognize that his meal of roast carrion rests before him on a silver platter.
To overcome the confusion instilled by such posters, I highly recommend to you this article, posted on the Silver Bear Cafe. It re-establishes reality and being based on market realities, it delivers a hammer blow to the rather devilish and unsubstantiated dart throwing calls of this obvious troll.
http://www.silverbearcafe.com/private/02.11/capitalizing.html
Read for understanding and research the unknowns that may arise from it. Be aware also that posters like this, who cut and paste their same remarks, thread after thread, obviously have an agenda to promote and nothing of substance to offer.
Math Man has yet to post a thesis, it's all hyperbole, wishful thinking and ad hominem attacks.
There have been some who have learned from others on this site and have been worth the while trying to open their eyes to the facts of the matter. However, this guy leaves a foul taste in one's mouth and the only solution is to gargle, spit it down the drain and don't entertain the thought of reaching out again.
Mr.Al G.,
Thanks for the heads-up, and the link.
I'm not a trader, and I completely cashed out of the market after a job change last year. I've been lurking here for a while now, and buying Silver in various forms for years.
It really wouldn't matter to me if the price rockets to $100 or drops to $0.01, I will still be buying Silver... and lead.
Oops... forgot to say... bitchez.
I have yet to post a thesis?
Silver only costs around $5/oz to dig out of the ground.
Rumors of shortages and short positions have caused a 70% run in six months. (neither of which exist)
Backwardation is now occuring because producers are hedging their forward production.
PRODUCERS CAN LOCK IN $27/OZ IN PROFITS IN THE FUTURES MARKET.
What more do I need to say?
The price of silver CAN NOT STAY HERE.
It will be substanialy lower soon.
That's not a thesis. That's conjecture. More cut and paste.
Where is the conjecture? It is all fact.
The conclusion - silver will go lower becuase of XXX, is the thesis.
You disingenuous trollish comments in this forum are much more full of feces than they are of theses.
If silver investors are idiots, why are you here?
Also, have you looked at the profits for silver mining companies? If they can dig silver out of the ground for $5, why aren't there massive profits? It seems to me, that we would be seeing buyouts every other day if they could really book a profit of $27/oz.
I think I just threw up in your mouth.
What are you doing that close?
Are we big enough jokes to not have to switch identies every 2 weeks.
Are you going to create an elaborate backstory about who you are and what you do. Some people call it information agents, or spys or illuminati. We just call it sociopath.
Ignorance and stupidity like yours should be a crime. Sorry you missed the PM bull market and Im sure you're too afraid to short, so you can only bullshit.
just go to the cme site. Open interest has dropped hard the last two weeks. From about 50K to 4K. High was 84K.
http://www.cmegroup.com/trading/metals/precious/silver_quotes_settlements_futures.html
Total open interest is at about the lowest level in the last few years.
"Nobody in here but us chickens".....
"dem Chickens' is organizin'"
"Put the ramp down! You're going to be a pie!" -- Mrs. Tweedy, "Chicken Run" :>D
The $64 question is did it work today to cause the longs not to stand for delivery?
At this point they've got to be losing significant money on the banging activity itself.
Where is RoboTrader these days? Aka old catfish mouth? My NFLX March $210 puts are up 300% and I want to skewer him.
Nobody shows up for just deserts.
With good reason, "deserts" are full of sand! :>D
im so sick of these bastards, their wars and their lies and their manipulations.
In the Islands there is a saying:
"Time longer than rope"
buy the dips - great support 32-31; BO intact
I've got a lot of time to see this unfold, and the longer it takes the more I buy :)
This weekend I was hopeing that that it could stay at these levels for another 6 months or so.
+1
They will lose the war.
<insert random it costs $5 per ounce to dig it out of the backyard at my beachhouse comment here>
yeah, those are the costs at GPL, right? love that company.
of course, i'm not mad at JPM, they put in a nice dip like this, and its buying time again.....
[generic "you can't eat it" mockery response]
You can eat silver!
When you do, you turn into a smurf.
http://www.google.co.uk/images?q=Argyria&um=1&ie=UTF-8&source=univ&sa=X&ei=jShsTYHiHsfBhAet44jtDg&ved=0CEUQsAQ&biw=1440&bih=787
And don't forget, silver to $2.00 by June.
<random Nadler comment about disappointing number of Indian marriage licenses leading to gold bubble collapse>
I'm not a trader but thank you thank you thank you for spelling all of this out for me, ZH has been an invaluable resource and education for me
it will just be bigger and better when it blows up
Can they stand for delivery even if they're not in the money?
I believe the answer is "Yes".
It would rarely happen though, and ussually in error.
Good Luck...
i thought the more debt you couldn't repay the richer you were?
You owe the bank $1000, YOU have a problem; you owe the bank $100 Million, the BANK has a problem!
You owe the bank $14 Trillion, your name is Uncle Sam, and you stick your head in the sand and pretend all is well.
my understanding is no, cough up 50% before delivery, and the other 50% at delivery
They don't even try to hide what they're doing anymore.
It must be nice to be TBTF.
Jamie Dimon sings, "America, you are the wind beneath my wings."
http://www.youtube.com/watch?v=DAlqdNPCEaw
Remember, Jamie has to get someone else to start his car. For what remains of his life!
And Johnny Carson drove his Corvette into work everyday.
Jamie Dimon is the poster child for the King Louis XVIIs and Napoleons of the bankster age; Blankfein is just his money-changer.
When do the hangings start?
Thrown off a 50-story building is too good for these societal leeches.
I don't know, I would be happy with thrown-off-a-50-story-building if it was posted on youtube.
It's good to be the king.
TBTF = Title of Nobility?
Today's Precious Metal Close Banging Moment Brought By The Fine People At The Comex; As Overseen By Those Similarly Upstanding People At The CFTC.
That's why they don't bother to hide things any more. Ted Butler placed his reputation and faith in these people. He was the first to GET IT but he doesn't get this.
Ted, you are a blind as Meth Man over your faith in these guys. Your trust is misplaced but keep kicking the counter.
Well I have to say - if that's the best they can do these days, then it's pretty laughable. 1413->1409 a monster drop of $4.
The volume spiked massively, too, so it's not for lack of trying.
ok. so, magically going up .40 is normal, but falling .40 is fraudulent?
got it.
Call me back when rocks fall up all on their own.
Bang Da Hoe Silver
Hit it all you want you bastards. Eventually you will be overwhelmed.
Worrrrd
$38.98 EOD close. That was quick!
Intot he close@33.5+! Margin calls are coming! "We're in the money! we're in the money!" Sing it! I'm selling my silver positions for $5000.00 (five thousand fiat dollars per oz)and nothing less!
Rejoyce! Their end is near!
keep supporting the bernank and his ME/ now Vietnam/ India oppression via Inflation. People are Starving..See if any Fat Amerikans can survive on 2 dolars a day. A Big mac cost more than that.
http://www.youtube.com/watch?v=40RWPeaPZpU
Blatant manipulation
the difference between Lybia and Comex . In Lybia you have Kadhaffi, in Comex I don't know the bastard
++++++++10
Anyone holding silver dollars and half dollars?
+ Bars, spoons & forks!
No gravy boats?
Silver tea service! FTW
yes
5 gallon buckets full.
Let'em kill it, just means I can buy more at a better price. I'm in it for the long term anyway, this is just buying opportunitities
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
hyperbole aside, this period of increased volatility was a given.
Bigger swings, higher lows are the trend for now.
Tomorrow looks like a buying opportunity.
After March 2nd... another leg straight up.
ORI
http://aadivaahan.wordpress.com/2011/02/27/the-fascinating-dr-chippalone/
Cheap Trick ? Sure...
http://www.youtube.com/watch?v=dFkbSAH7yb4
50$ silver by april
http://thehardrightedge.com/50-physical-silver-by-april-2011/
Buy mining equities (especially silver)
http://thehardrightedge.com/miningequities/
If this is the near term top in silver, zerohedge called the top. lol Just like Roubini called the top in stocks few days ago lol
first notice day
get ready
I can't wait to see how many have stood for delivery - showed 10000 still standing as of Friday. That is still 50 million. Not as good as it being the 195 million it was at mid last week of standing.
Oh well. Lets see if it gets broken this month or not.
We can hope for the best!
true, but at the same time it was eight straight green bars on the hourly.
Negative on that. (CST)
2 AM red bar
3 AM red bar
4-6 AM green bars
7 AM red bar
8 AM green bar
9 AM green bar
10/11 dojis
12 & 1 red bars
Positive on that (CST)
should have been clearer. i was looking at nyse market hours dating back to friday. as an addendum my chart uses 8:30 to 9 am cst on the hourly.
Lot of people are going to take their physical delivery.
Chinese are using GLD and SLV to acummulate PM's
Hello My Fellow PMs Pimps! How'sa goin'? Me think we'll see a (last) dead cat bounce in the $, meaning it will follow the EUR on it's last way home :))!
get ready to buy some more Physical PMs it might be the last chance to get in this "cheap"!
Joe,
think you are right and PM's, equities bout to take a dump.
Without identified or politically viable QE3, we are 4 months from a collapse in T's purchases and spike in yields...plus state / muni catastrophe. This is over a trillion in missing demand.
Only when QE3 is better than the collapsing house of cards can the big blast off for PM's take place...seems time to wait for the atmosphere to turn where QE3 is acceptable (lesser of evils) and then load up the PM's (I'll keep on buying the physical in the meantime all the same)...could be wrong but that's what it looks like to me.
Hambone,
Bubba! You ain't wrong at all, we might get "burned" a little on timing and price but in the end it's all about the Buying Power AFTER the dust settles! I don't give a rats ass how much I pay for my physicals as long as I can still get them, they are getting scarce you know!
QE3 is in my opinion a 50/50 thing right now, maybe in a few months we'll "know" more, won't bet on it coming or being dumped altogether, see we are just too nice of a people we cannot by any means get into the head of a banchero or politick so we have to alternate between longs an shorts!
Right now I am long physicals and short pretty much else via some nice leap puts, all else ois cash until i can "hide" that one too:)))!
My ultimate take is benjo man has no real choice here, its either ...OR, whichever suits the FEDs FRIENDS!
One question.. Whats to stop the crooks to saying Fuck you?
Not much, the first time the do it...
They've been saying that for several years now.
Did somebody say "cheap trick"?:
http://www.youtube.com/watch?v=7r06d_zl4tc&feature=related
Green Jobs are cuming!
Blow the fuckers up.
I guess Wynter Benton tied with Blythe today, will be interesting to see Wynter's comments
Deicide?
WB is Blythe's Pig Latino cousin. Shheeesh. Fooled me.
HL absolutely getting roasted....
if everything went up together by the same amount, there'd be no money to be made.
physics = wave functions
stock market = 2 questions
up or down? shoulders and heads.
how far up or down? temporally weighted colinearity.
so sell a peak for a trough to get a hooker.
Wow. There is obviously a price suppression scheme!
Seriously, you guys are all delusional.
It moved up 70% in six months, but you still think there is manipulation and a massive naked short position keeping the price down.
Face it - you've had a 70% parabolic blow-off top in six months. THIS IS THE TOP.
We are not in backwardation because of shortages. We are in backwardation because silver ran 70% and the miners are now hedging up their production at the bubble prices after running unhedged for years.
It only costs five bucks to dig the shit out of the ground, so you can lock in $27/oz at these prices!
You'd be a fool not to.
See you back below $20 soon enough.
Blythe, are you still shitting in your (silver) shorts?
laughable man. i guess you also probably believe the war on terror is about protect us from the evil boogie man too?
bored today at work math man? you and the boys are needing some laughter, so you see who you stir up at zh with a wild comment. hat tip to ya though. you sucked me in last week. hope you had a good laugh on me. you probably have more silver coins and bars than most of us on the board, which is good for you.
btw: we used to do the same at our cubicles back in the day when we got tired of cold-calling. would play jokes on unsuspecting folks, traders etc ...
You're full of shit. You said the last one was the top, and we'd never see above $34 again.
Fuck off. You have no credibility here.
I have more credibility than a f*cking loser like yourself who has 95% of investments in one ASSET.
Seriously, what the f*ck is wrong with you?
We just saw how that ended up for all the people who put all their money in their house because they thought they'd keep going up after prices doubled.
Silver is the same damn story.
It runs 70%, so you fools put all your money in it and keep claiming it is going to the moon.
It's not. It's going back below $20 bucks. Which is right where it came from a few short months ago.
here's a good practical joke for you to pull math man when you get bored.
find the resident know-it-all in your office. you and your best joker bud study up on a few complicated topics/issues etc ... then start talking about it and see which one can get the know-it-all to discuss it in detail. loser pays for lunch.
by the way, how much is the pot up to now on the number of zh responses you get per wild statement?
I noticed that Meth Man only shows up when silver gets banged down. "He" disappears when Silver is surging up. Trying to shake the tree, eh Blythe? Psychological warfare at its worst.
Hey bad at math man.....
I'll be thinking of you while I'm taking out zombies who are trying to steal my silver.
You will definately DIP as you can not eat a beachhouse nor a fancy car.
When silver drops below $20, I'm going to have a custom silver trophy forged for the best f*cking trade of the year.
See you suckers below $20.
I'm going to put it on my fireplace mantel at the ski house I buy with the profits.
I bet Methman will no longer be here in two weeks. Anybody want to take me up on the offer?
over. but I'd be under at 4 weeks ;-)
just for fun i will. the higher silver goes, and the more money he's making with his longs, the wilder he'll get with his comments to rile us up. silver's going to $20. no wait $10. no wait $4.
We will see if your newbie can hang in there JonNadler. I saw "Blythes Master" quote up-thread, might want to go see what your boss sez.
Such delusions of grandeur!
The reality is, silver owners will be shitting out chunks of guys like you in our stool.
ok. i'll do the same. we'll both have trophies from the 5 to 1 split.
btw: do you polish you old junk silver coins? i do.
For you to have made sufficient profits to buy a ski house 'when' silver drops below $20, you must have some pretty big short positions.
Please, PLEASE tell us what they are so we can congratulate you when you come into the money.
Otherwise... fuck off, troll.
Puts on SLV.
Mostly July.
They should all pay off at least 10:1 when silver drops below $20.
You can buy July 26 puts on SLV for under 60c...
They'll be worth 8 bucks each w/ $18 silver.
Every hundred contracts will be worth 80 grand... but a hundred contracts only costs $6 grand.
When you play the ponies, there is a reason the 100:1 bets pay 100:1.
Might as well throw your cash down the toilet on your rapidly depreciating home. Hopefully the salt air hasn't ruined the engine of your 1985 Ferrari. Not that it matters, as it is a clunker now, since the last owner didn't take care of it, and sold it to you for $2,000.
The trick is finding out when the odds are wrong and making those trades as often as you can. As long as your expected value is positive you'll always make money in the long term.
The market is significantly underestimating the probability of a big move down in silver after the 70% run we've had over the last six months.
We were below $20 six months ago, and in a few months, we'll be right back there.
By the way, shouldn't you be at home polishing the 3 silver eagles you saved up for over the last 10 years to buy?
Ferrari's are for small penis wielding degenerates. Better get one of these if you want to be taken seriously:
http://www.bugatti.com/en/veyron-16.4.html
Suweet ride! I'd still like to have an original Shelby Cobra though.
lol, "expected value".
You just keep marking it to fantasy. It worked well for Enron.
Once again, excellent breakdown Meth Pipe!! Your reasoning is unarguable! I am not worthy of beholding such esoteric knowledge.
So you've what, bought a hundred July SLV puts @ $26 an ounce?
Of course, it's quite possible the fraudulent, unbacked SLV will be trading at less than $20... but that's not the same thing as saying silver itself will be less than $20 an ounce, is it?
Unfortunately for me, SLV actually has the silver they claim.
It would make my trade so much easier if they didn't actually have the silver.
Seriously, if you guys all believe SLV doesn't have the silver, why aren't you shorting it against your physical?
Oh yeah, that's right. That would require logic. And a brokerage account.
Things that most of you don't have.
So - have you bought a hundred puts on July SLV @ $26? Or what?
I have a lot more than a 100 contracts.
Tell us more about your car. Sure is a sweet ride, dude!
Well, in 4 months, we'll see who's right.
Will you eat crow if you're wrong?
I was just talking to your former boyfriend, and he told me how he was utterly disgusted by how your physical was constantly and excessively short.
Much like the SLV, your claims did not live up to their reality.
I guess that explains why you are always calling for a top.
.
Yeah?! Well my dad could beat up your dad! What do you think about that, huh??
Yeah sure. I bet you don't even have $500 in your lame-ass Ameritrade account. You just talk stupid shit.
I'm glad you gave this specific information; now we can come back and laugh at you as your July Puts expire worthless; which is exactly what is going to happen to them. Are you 12 years old?
This summer when that position gets blown out of the water, I'm sure you won't be hanging around here any more.
It's not. It's going back below $20 bucks.
InnumerateBoy, it will NEVER go below $20 fiat ever again. If it does, I will never post here again.
If you are serious about this subject why don't you have a read of GATA's examination of the issue:
http://www.zerohedge.com/article/tracking-gold-conspiracy-gatas-must-rea...
If you read that and can come up with rational objections, then come back and post, and we'll all happily discuss and re-examine the matter.
Otherwise... fuck off, troll.
I have credibility because I have been right, and continue to be right, and have made a huge amount of money off of publicly made calls. You are just a loser who owns nothing but depreciating assets and dumbshit knife-catching options.
Silver is going to the moon, because the supply and demand fundamentals have been thrown so far out of whack by artificially low prices due to price suppression efforts and dishoarding by central banks. Believe it or not, I don't care. Either way, this is the train that is about to roll straight up your asshole.
+++
By June we will see if his record matches yours. Math Man! You are trolling against very smart guys 'round here.
Do I have any good idea where silver will go? Not really, except that I think it goes up a lot as money and debt get piled higher and higher.
Just like people buying houses in the middle of the desert made a bunch of money during the housing boom?
You own some shiny bars of metal that happened to move up 70% in six months. In a few months they're going to be worth a lot less.
Dear Moth Man,
Could you please indulge us lowly silver investors, and divulge the secret source of your self-proclaimed magical crystal ball through which you are graced with such oracular insight and otherworldly wisdom?
Apparently 70% is so shocking to meth man that it couldn't possibly go up more. I'm not sure how he feels about any asset that has appreciated 69%, or even 65%.
lol, no-one tell him that silver is up 850% over the last ten years.
No-one tell him that now, unlike then, there is no more silver left in the world, except that which is coming out of mines. That which is held by investors is going to be hard to shake loose.
How does I supplied demand?
Meth Man, you think commodites like wheat, corn, cotton, and soy are gonna pull back to half of their recent 60% gains?
Math Man, should call yourself Meth Man...put down the pipe!
You must have two dicks. Nobody can beat themselves that silly playing with just one.