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Wipe Out Of Near Record Number Of EUR Speculators Confirmed
And once again, those seeking a reason why the EURUSD has plunged 600 pips in two days need look no further than this chart. As of Tuesday, per the CFTC net non-commercial long contracts in EUR rose to 99,516, a massive 45% rise in one week and by far the highest in years, following Bernanke's dovish statements from last week, all of which were wrong footed yesterday when Trichet announced no rate hikes for a while, just as Zero Hedge anticipated courtesy of a global economic downturn. As a result of this surge in exposure, we have seen a one way trade as the specs exit the trade en masse. And while the DXY has seen some move higher, the primary reason why its has not surged faster yet is that over the past 5 weeks USD shorts have covered. And just as notable, net Yen short positions declined in half, from -37k to -18.8k. This mean that the G7 will soon have to intervene all over again to keep the Japanese currency weak.
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I wonder how many Billions were evaporated in the last few days with Oil, Silver and FX. I am sure a few small to medium size players will be closing their doors in the coming days.
Nothing evaporates is such case. It is a zero sum game.
> zero sum game
Not exactly - only if there are no gaps.
Care to explain? A link will be fine.
I think he is referring to the fact that an asset may open at a different price than it's previous day's close (esp. during high volatility), making a 'gap' in the curve. You can see it, for example, in the 5 day chart for ZSL
http://finance.yahoo.com/echarts?s=ZSL+Interactive#chart1:symbol=zsl;ran...
but this is just a guess.
It doesn't evaportate. A stock ipo's. That's the initial point. Any move up takes from someone and gives to someone else. Any move down takes from someone and gives to someone else. It has to be booked though and money has to change hands. But since stocks use their market cap as their revolving credit card an evaporation of half the market cap with a stockholder base that refuses to sell can cause the company to go under because they are underwater on their bank loans and maybe even their commercial paper.
I haven't lost one ounce of my precious metals over the past two weeks, and I ordered more this morning.
That's how I feel about it.
yup, me too after my wife said "don't order any more silver" lmfao
aVian: same I've been ordering, accumulating and buying increasing my vault space along the way.
Added 13kg so far this year (yes some even at $45). Have a total of 149kg so far Grabbing another 11kg to take me to 160kg
The last 19kg will be on a 4-6 week wait. Yeah crashing price makes sense. *rolls eyes* last year I was walking in and out with 10kg transactions no queue and no wait the silver was at the bullion dealer. (Australian Bullion Co) Now I have to order by phone and organise pickups. Queue at the door is 2hr wait and then I have to wait 4-6 weeks for physical delivery.
If they confiscate my silver with a gun at my head in the bank vault I won't be happy but I'll be smirking anyhow that would be a win for me, exposing the rampant criminality of the system. Corrupt MOFOs FREE MARKET my f****n arse.
I would love the CRIMEX to get burned HARD. I worked out if 150K people took physical delivery like myself of 160kg it's over one years total mine production. If 1.5 million took physical delivery it's ten years total mine prodction.
We can DO IT!! Please folks take delivery and secure it yourself. Yes it's a pain and it costs more and it's hard to liqidate in a hurry. We can BURN these criminals, expose them and their only out would be martial law.
As silver crashes faster than you can poop your self youll be able to craft a very nice silverware set.
longorshort: As silver "crashes" (and gold may I add, I like my gold too), I expect the global currency regime to balance, deficits to come under control and the economy to return to an even keel. Perhaps even growth without government inflated assistance. Then you are correct I will be eating a big stinking shit sandwhich. Such is life
Until then I am thankful for pullbacks (especially 30% or more) because I am one of those that truly BTFD.
If on the other had our central planners don't get it right and Silver and Gold begin to revalue upwards especially V other assets and you are not in this market. You will have different outcomes.
Everyone makes their bets in life...
I've ordered myself a new wife in solid silver...no paper stuff... That way I sleep with y silver every night.
European Vacation....
http://www.youtube.com/watch?v=iAgX6qlJEMc
When every cums in the circle jerk do you just turn around and do it again? Or just handout the Kleenex and go home?
No big deal.
It's only fiat money.
This is why you shouldn't play with paper. It's nothing but kindling for your funeral pyre if you do.
Lol. Because hard currencies are so non-volatile -- you can't get burned there right?
It's hard to get burned if you have no leverage, no margin, no time constraints and no counterparty risk, yes.
Win.
Burned in terms of what? Dollars?
Don't make me laugh.
The reason the dollar is surging and the Euro is collapsing is because the Fed is going to emulate Japan and start printing money like mad.
Then, and only then, will it have a chance to emulate the spectacular bottle rocket lauch of the Yen.
Also I suspect that over the weekend, we'll find some gold stock funds getting "Amaranthed".
Are you implying the G-7 will use the "nuclear option" on Japan. Too late.
japan already used the nuclear option on itself
Laks (ECRI) had some interesting comments today on Bloombrg
summer (global) slowdown but no 'recession'
http://www.businesscycle.com/news/press/2171/
RainbowTrader March 2011- 'Forget gold at $1,400, the top is in'
He's such a cherry picking loser, I have no idea why people think he's very bright. He's not.
Come on Robo, what's your prediction for gold at the end of this year? Look ahead for once. Show some balls instead of looking in you rear view mirror all the time.
BTW, my call on 12/31/10 was for $1750-1800 by 12/31/11. My call for last year was $1500, and it finished @ $1410. Not that far off, but I did miss it.
Step up Robo, or just shut the fuck up on gold.
Great example is TZOO, one of the dopey momo stocks he had been shilling non-stop. Then when it tanked, he says "I never owned it, since I only buy high dividend paying stocks." What a fraudulent, two-faced fuck stick.
You're saying the dollar is surging because the Fed is going to flood the market with more dollars? Hmm...
R U serious? They started long time ago...QE1, QE2...ECb has just sniffed on it
Thanks Tyler, A very nice study indeed!
sounds ...er...bullish
One tough lesson non-institutional traders need to learn is that there is nowhere to hide. You WILL be taken to the woodshed at some point and despite all the media hype nothing - I repeat - NOTHING is safe. The only way to be relatively safe on a medium to long term basis is to spread your assets across a basket of currencies. It's either that or trade in/out - yes we are forced to speculate - it's Greenspan's legacy.
Buy & hold is not an option anymore - it has not been for a long time. Extended periods of perceived safety and gains are nothing but illusions. Silver traders learned that lesson the hard way this week.
Oh ya. Fuck you. Eat inflation and eat a plunging dollar. It's cool if you want to gag on it time to time. But you're gong to fucking eat it.
You sir, are an idiot.
He is an idiot. I don't know why the powers that be don't flush him from this otherwise excellent site.
Yes, Mr. 6 weeks thinks he should be banned for his opinions.
That's pretty idiotic.
It's really ok. Mole is just being mad. He's making decisions not understanding the fraud pile. You take a fraudulant system and it will distort it's frauds to all sorts of insanity in the name of self preservation. What he doesn't understad is the amount of on the brinkness we are hovering at.
Banks will not go bankrupt. They'll simply print the money and bypass the bond market and rules to make the payments. As japan reality hits this world will become flooded with counterfeit money.
It doesn't matter if silver holders capitulated. It doesn't matter if it took one route or the other route. It doesn't matter if financially desperate people focus on external enemies or fleece thier own population. As long as the stock market is sitting at slasher flick P/E ratios and malinvestment is guarded to this extent. It can go nowhere but pain. Hope and plotting a way out is just going to hurt more and more people and cause deeper and more painful polarizations.
This fraud has 2 choices. Focus on external victims or focus on internal victims. It's either a psycho cruise or a psycho homecoming.
mole_c: i learned some more abt the crimex shorts & how that mkt works on the delivery intentions. found a coupla sites that went thru it by steps, in english.
may understand, in another month or two!
Honestly man - whoever was long EUR vs. USD at this level was a fool or knows absolutely nothing about the Euro (which would then make him a fool for taking on this bet). If someone believes that the USD is the very worst of all currencies - they are totally naive. Euro, USD, Yen, Sterling - all have problems. I don't know how things finish but betting USD finishes at the bottom of the heap is a huge stretch. Way too much anti-USD on this site and not realizing you are standing in a forrest of rotting trees screaming your head off being totally offended by one of them.
Euro is worst, due to a fractious union of a bunch of different countries that don't like each other and an aging population that has been promised pie in the sky entitlements. No way the unemployed youth and Muslims will fork over 70% of their earnings to support those old geezers.
USD is next. Once again, too many promises backed by too much debt. The financial system is a game of 3 card monty.
That's pretty much the case for the Euro although their banks with incectuous sovereign debt holdings which helped perpetuate this also create bailout issues past, present, and future. I can make similar cases for Yen and Sterling. Once you get there, you can extrapolate that if no one can afford to buy goods anymore - just how strong are the nations which produce the goods and what needs to be done for them to maintain their production oriented economies? Simple answer is that there is no safe haven, the world is linked and fast/abrupt change doesn't help anyone (or at least those in power in all countries as they have a vested interest in staying there - there are no sane wealthy anarchists).
I'll take the reverse position, the USD is artificially strengthened by the primacy of the USD for financial product pricing and transaction settlement, as well as being the currency base peg of choice, for nations who don't free float their fiat. USD has more unhappy customers than EUR, so over the long term it has more to lose.
Which institution do you trade from?
He runs a little website : http://evilspeculator.com/
Silver traders may have "learned a lesson" over the last week, but silver holders couldn't give a shit.
You've expressed my own sentiments so eloquently I'll just second your motion and remain silent .... for now.
Silver buyers had a good week. I got to buy more at 33-35. I doubt I was alone.
Cheers
Only paper is an illusion. My silver shines just the same as it did last week.
Of course traders got executed. They are playing Monopoly against the banker. You CAN'T win that game. But physical exists outside of their game. The best/worst they can do is put it on sale for us.
You want to qualify you statements on silver, or just throw it out there like the typical hubris of a speculator?
Any rational commentary on any single market reuires far more data than one week of movement in a single trend. Anyone that relies on such a small dataset deserves to crushed when the market doesn't move as they expect it. The long term trend is still up even with the slight correction this past week.
Who is the real idiot here? I would venture to say you.
"Any rational commentary on any single market reuires far more data than one week of movement in a single trend. Anyone that relies on such a small dataset deserves to crushed when the market doesn't move as they expect it."
OMG! Data, against the Fed??? Data is how they screw you.
"The long term trend is still up even with the slight correction this past week."
Agreed, in the end, silver will be money and dollars will not. But the emotional strain on unhedged physical silver positions must have been pretty bad. Why not hedge in paper and sleep well at night? Answer: Because most traders thought he Boyz would let you capture the whole move up with no pain, or they were greedy, or both. ("slight correction" heehee)
i see your point, and your glee.
and i think if our coins are going down in value, there is some emotional strain, too. i hope baby_Blythe studies well on jack danielz!
but, if everything is paid for & one has some cash, food, and supplies, and maybe even some income, or a job, and medicationz, of course, one just toughs it out as best one can!
it costZ $ to hedge, just as it costs to pay large "premiums" even if they throw in the postage. many who own coins or even bullion hedge by holding FRNs long. not by playing expensive timing games with the "bank's" assets.
i went into a coin shop yest. no customers, 3-4 PM. "may i help you?" no, it's only me. i looked around at the cases, the coins, the prices. one of the guys was cleaning the floor. i asked him: what are you buying and selling junk silver (90% US Coins) for, today?
buying: 21X face value; selling: 25X face.
i told him, ouch! not a friendly spread, any more! no, he said, they were trying to protect a bit against the volatility, now---crazy prices. they want a bit more on the sell side, now!
you guys get hurt, bad? no, but they got hurt.
as i pushed my schwinn across the clean floor, i waved g'bye and said: didn't we all?
Agreed.
It should be clear to everyone by now that they will destroy the dollar eventually. Accumulating physical gold is a good end game, but hedging in paper gold to reduce risk is a must, or you will lose many sleepless nights while they try to shake you out. Traders who were long silver and short dollars learned that no roads, even the road to ruin, are straight in the stock market.
I really don't see much reason to hedge my $400 to $550 per ounce gold eagles... do you?
"Silver Traders" learned a lesson this week.
Silver owners backed up the pickup truck.
Dealers came to repo their trucks.
I'm primarily trying to protect my pension from raids, and I have come to the conclusion that I have to actively trade.
This sucks, I have no interest in trading, but the currency manipulation which goes on can wipe out years of earned value in minutes. 2008 destroyed millions of pensions. I have to understand why the god damned crashes are happening. This is NOT productive behavior, I don't want to do it, but have to.
Inflation: Cash, bonds
Deflation: Commodities, stocks, property
Foreign currencies: Both!
I basically have to be in fucking everything, selling high, buying low to maintain my earnings value.
All because the fucking politicians and bankers can't leave the fucking value of money alone!
I agree with you. You have to not just actively trade, but basically be a speculator.
A symptom of humans living beyond their means. There is much more paper everything than physical anything to exchange it for. Thus everything is an illusion and massive irrational swings between types of paper driven by fear and greed are to be expected. It will calm down and become rational when we return to living within our means.
when you say "protect my pension" do you mean an account w/ the goobermint which you share with them b/c they "allowed" you to "invest" so you could enjoy "compounding of taxfree $" and maybe an "employer freebie" too?
and, now, you want to "protect this" from yer partners?
perhaps you might consider ending the partnership, paying the buyout shot(s) and going long PMs via US gold & silver coins as a way to protect the value of your earnings.
you sound like a poor little rich kid, here, to me. if your partner is trying to wipe you out, and controls almost everything, why don't you get a grip on just what you do control and make your play?
You're an idiot.
Time to close down Hymietown and send the paper gamblers home.
It's all worthless.
No value is created in the process.
A total waste of time and effort.
All small incremental gains are being wiped out in a second.
Drops always happen much faster than rises.
But an ounce is stilll an ounce, and no one can take this away from you.
Only over your (and mine) dead body.
Someone gets it :-)
"Buy & hold is not an option anymore - it has not been for a long time. Extended periods of perceived safety and gains are nothing but illusions. Silver traders learned that lesson the hard way this week."
"But an ounce is stilll an ounce, and no one can take this away from you.
Only over your (and mine) dead body."
Um, I'm pretty sure his point is exactly the opposite of what you just posted up above.
I'm pretty sure that molecool was referring to trades in paper with that comment...
Fair enough.
euro holders at this point expecting a collapse of their currency might be considering shiny. i know i would be.
I have some Euros, I have to say they are prettier than Dollars. The 10 is a bit effeminate, the 500 on the other hand is full on camp.
protecting yer pension?
WIPEOUT!!!
there but for the grace of God! ...aren't many of us that won't be ...the end game of all central bwankers paper shams
Trading Rule #1 -- Always stay opposite the retail, non-commercial trade.
+1. That's why JPM and BAC have perfect trading quarters (and GS, etc.)
Oh right....well it also doesnt hurt their trading records to be on Bernank's speed dial list either!
I would like to quote somebody who knows what they are doing:
Trading Rule #1 -- Always stay opposite the retail, non-commercial trade.-eurusdog
In a market that makes all its money from retail, this is exactly what matters most. The holy grail of indicators will fail you in the long run if it puts you in a trade on the side with clustered retail traders.
As I said yesterday. Look@ y10 BUND yields.
Too bad no one can see the yields of the EFSF bonds
Funny. In a Gavin Newsome Way.
never heard of that guy before, but seems to be presidential material.
Now all markets whipsaw wildly just based upon one assclown or anothers comment interpretations. Nevermind any real world fundamentals, supply or demand...now everything goes either crash mode or flash dash based upon a hint or not of further fiat currency printing. What a sick, insane world.
Welcome to OPEC. (AKA: The Barter System)
It hasn't been an auction for quite some time. How could it be? The amount of speculative money out there dwarfs all markets. Inside information and manipulated policy, government manipulation and corruption, and (insert rant here) preclude any auction analysis, technical analysis, or fundamental analysis.
This will be the case until the banks are solvent or we go bankrupt. Then we can settle down to a normal level of thievery
we going to sizzler's! we going to sizzler's!
If you live by the sword...
currency speculation today is what cds/cdo play was to sub primes...Guys like Soros avoid being taken on the first swing...I'm sure he wasn't in it...but now on the round about...he can make a killing when the market inevitably adjusts...
$1.43 now and probably back to $1.38 next week...
napkin wars
Musical currencies, and there really arent any chairs at all for when the music stops.
Time to start buying Euro?
Timing, timing...yes if you're big like Soros...but you'll know when to move...as you make the swing.
Buying the EUR/USD last week was like buying silver at $48...inverted risk/reward. And another thing, always use stops.
Inverted...? I like your r/r theory though. Never use stops!!! Stay up with the big boys!
You know what I mean.
yes
SilverDoctors has the inside dialogue on the negotiations between JP Morgue and the SEC over JPM's CDO settlement!
http://silverdoctors.blogspot.com/2011/05/jpmorgue-in-advanced-negotiati...
Euro volumes much bigger than silver which is small market!
Exactly, and even though fiat is crap this is the precise reason the silver bugs will get their asses handed to them.
So basically, what you are trying to say TD, is that everyone is trying to devalue their currency faster than their neighbors can.
So why would anyone want to sell their gold/silver?
trash your silver and I will give you a great deal in exchange. I pay you 3.15% interest if you loan me $20,000 for 10 years. deal?
No, but I will lease you my silver, and in turn, you can sell it in the open market and invest the proceeds. My lease rates are under 1%.
The only problem is, I only have paper silver to lease you.
E/S turned lower and gave up a 15 point surge...horrid tape action and a horrid close...
As trader exit a one way trade en masse, sounds familiar, silver bitchez! LOL
Another $6.5 Billion of bank losses taken by Fannie Mae today. The bailout continues. What a country.
so, now that we are talking about bubbles, how come no one talks about the worthless treasury bubble
Any MSM reporter would end up shooting themselves twice in the head if they talked about it.
or maybe a hair shampoo courtesy of you know who
Q. How to win at roulette, blackjack, craps, slots.
A. Don't play.
Q. How to gamble.
A. Defined amount before you enter casino. Play what you know. Small bets on low ratio odds. Don't buy insurance. If you aren't having fun leave.
eb! written like a successful, pro gambler. expected values (EVs) of wagers change, even on real casino floors. if you can tool around @ A and get a free chance to win 1,000X A @ B, schemes just hatch themselves! casinos often offer deals/comps/&tc.
unfortunately, as you don't express, yerself, many just crave the action. and, like any human craving, it takes time and money to work thru. you can't cash a ticket or use and ATM in any casino, here, w/out seeing a "gambling problem?" sign or brochure. no one on zH would ever lose more than s/he could afford, i'm sure. wait! what about the zombies? ? ?
Intervenshuun... The dollar will die slowly as long as they can print more. And that is the bizzarro world we live in.
Yuan washes and rinses, soon to repeat. The dollar dump that was not, apparently. Art of War proving that all fascist dictated corporate sponsered governments are lying at the behest of the oilgarchs so to do away with the lower classes chance of wealth mobility.
Strange how even a small...modest move up in silver (like today) will keep the trolls away....where the fuck is Hamy? Where is Meth-Head?
They cashed their troll checks and started the weekend early.
I don't know...I think they have it set up where they ONLY get paid JPM stock so I doubt that is it....
They must be around here somewhere.....
HEY FUCKTARDS...WHERE ARE YOU?
Hehehe.
This troll posted he was buying AGQ before the opening!
It was a perfect bounce off the 100 dma but i got out fast because i dont want to get caught in a bull trap. So now back in cash.
Who knows where it is headed now. I am content to wait.
Buying ZSL last thursday was my best trade ever. 50 percent in a week.
Buying puts on SLV was pretty damn epic. My wife and I are going to look at real estate to buy with the proceeds on Monday.
Market manipulation Baby...The biggies WINS everywhere...even if they loose money selling stocks , they are so wonderfully hedged , that they make nice profits.....
http://markettechnicals-jonak.blogspot.com/
USD junkies are singing victory
Dancing in the streets waving flags
"MISSION ACCOMPLISHED"
USA....USA....USA....USA....USA
AMERICA.....FUCK YEAH!!!!
I invoke poe's law.
But lmfao either way!
Surely no one expected anything different!
Classic bounce off lower resistance boundaries or "support" for the nit picky.
.
slewie family secret: regression 2 the mean....
I appreciate the article as well as the comments.
If you play with fire you are going to get burned. I think it is significant that hardly any expert called the $50 top. Duh! Just pick a nice round number and beat the experts.
This is a teachable moment. So while governments keep kicking the can down the road, and as Erin Burnett heads for the exits at CNBC, looking for global coverage and more moulah at CNN, as our nation's bogey man has been killed and then captured as well as buried at sea, those who were cowering in the corners of their rooms 24/7 in fear of another terrorist attack can enjoy the spring sunshine and blossoms.
I rest my case. It is a wonderful, wonderful world and none of us should be complaining as we are one of the most well-fed countries on planet earth.
What the living fuck are you people speculating on fiat for in the first place. You deserve a butt pounding you received
Fucking idiots.
Predictions?
http://ghickeyblog.blogspot.com
I trade. If you trade well, you have more fiat to buy stuff with.
gh
The system is so grossly manipulated. In a world of fiat currencies all the US Govt has to do is used printed up currencies/digital credits.
I guess people have forgotten the swaps between the countries. Each one prints and swaps with the other. Games are being played to take away your money. The small trader is bound to loose. All you have to do is to get out of the game and buy physical gold and or silver and watch the fun over the next few months