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WTI Recovers Over 60% Of Losses Since Goldman Downgrade
To all who panicked following the programatic Goldman downgrade of Brent two days ago and dumped their holdings right into gaping maw of Goldman's overeager prop desk (which has once again seen some notoriety today although few actually care as everyone is now aware of the 200 West M.O.), our condolences. Crude has now recouped over 60% of the drop following that downgrade. In the meantime QE3 is today pegged to ON, as the inflation trade comes back again with a vengeance. Except Goldman to pull all punches and proceed with downgrading all the other commodities it is still bullish on, including gold and silver.
Elsewhere, gold is just pennies away from its all time high, and silver seems poised to take out $42 today.
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was that a new era silver correction? 42 to 40ish
It was just a small sale that our PMs went on. Great time to jump in or add. Now lets ride the next leg uuuuupppppppp.
JPM is failing miserably at downward price manipulation of metals.
Goldilocks now fails at downward suppression of other comods.
Who will Benocide hire next to try to convince me that there is no inflation as I barely keep my head above water paying inflated bills with devalued shit?
I never thought white collar crime would lead to a fascist state, but here we are.
A whole two days later Goldman Sachs = F*A*D*E
Just wait til June. Silver longs will know great pain.
Disclosure:
Long $25 SLV Puts
with this vol youre better off selling in the money calls
Exactly what I was arguing the other day when the big story about the $1 million 25 silver put purchase came out.
Of course now all the silver bears are disclosing theyre also loaded up on $25 SLV puts.
that short gamma might ensure a few sleepless nights though...
No one is more annoying these days in the entire marketplace than the silver bugs.
Options "traders" that don't know when they should be long/short volatility are infinitely more annoying, IMO.
Sounds like sour grapes from a sore loser to me.
Bitch.
I'm sure those losses you've been taking betting against silver the past year is probably more annoying..
+1
Agreed. Happy for you silver longs, but you can't be serious in calling this 42-39.8s a correction. Wait for 37s at least before reloading.
There are no June11 puts written at any strike. What month are you trading? How much are you allocated to this "bet?" 25 strike up and down the chain looks pricey to me.
July.
Should be real juicy!
Let's just say around June 12 I may be calling Tyler to buy a controlling interest in Zerohedge.
More likely you will be slinking off like a beaten dog, probably to find a bridge to jump off of.
Knife catching moron.
Wha?
Why would you want that?
LOL. Thunder Dome, buddy, just reach over into the next cubicle and wake up Johnny Bravo. He hasn't posted in weeks.
I hold SLV puts also... 1- hedge against a sharp correction 2- profit when the truth is learned about the fraudsters at JPM and HSBC that they have no silver in the vaults.
Holding puts is no sin even for silver bugs.
Of course not, if you're using it as a hedge.
Expressing a short speculative options "trading" position in SLV by being long Jul 25 puts is borderline retarded.
Perhaps I misread him, but when you are long a put... you're in a short position for the underlying security. To short a put, means you sell the put hoping the price of the underylying security goes up (long)
Perhaps I misread him, but when you are long on a put... you're in a short position for the underlying security. To short a put, means you sell the put hoping the price of the underylying security goes up (long)
there, I corrected your obvious typo for you..
i dont view SLV as silver
People are buying metals instead of holding fiat. Yen euro dollar all trash.
That's what these traders dont understand. They think it's just a run up in another commodity
Interesting that this all happens excatly same time that Glencore announce their flotation !
Let's let the moron trolls try to claim they are making money by being leveraged short now.
Morons. Long physical, bitches.
OIH, XLE, XOP still sucking wind.
Need to see these take off to set the path for higher prices.
what's sucking wind is your portfolio of widows and orphans stocks. and the walls creep ever closer in your dusky, dingy apartment.
+1 chuckle :)
Whats not sucking is gold and silver, rocketing up today! Too bad you didnt buy PM's long ago, but piled into stocks which are sucking wind losing purchasing power no matter how much they go up.
Tyler pretty sure at the end of the article you told us we "have been warned"
Correct: warned that Goldman will be buying everything it downgrades. Gold is next.
This is why I love ZeroHedge, it's almost like cheating!
I remember back in the day of my early buying of stocks I would dream that one day I would have some good insight on the market in the form of an insider tip. Never did I realize a motley crew of bloggers would be that tip; furthermore, having precious metals as the avenue. Once one steps outside of the matrix and sees it for what it is, it is impossible to go back.
I believe I owe a donation to ZH - http://www.zerohedge.com/content/donate-zero-hedge It's coming, just as soon as I restock my food pantry.
Inflation is a Bernanke.
TD- maybe I'm just slow in grasping this, but with JPM kicking and screaming about oversight of the derivatives market, isn't it possible that JPM and the other large institutional players can take one position in the market and the opposite one in the highly leveraged derivative market, and nobody would really know?
You are exactly right. JPM is like the local bookie though. Sleezy douchebag that always wins in the end playing both sides and making the spread...
Thats what I assumed right away, if GS is calling the top on something, that means its about to shoot straight up.
What argument can GS legitimately trot out to downgrade gold/silver other than saying that they are telling the Fed to abruptly end quantitative easing? The oil downgrade just borrowed a trope from the UK inflation undershoot on demand destruction.
Goldman probably bought their own dip.
I was thinking the same thing...
One day, they will overestimate their importance.
It's easy money when they can front run themselves.
Goldman bought the dip of some fool who sold.
WTI looks like it held an earlier ascending triangle BO
Heard on Bloombert today that Godman Shafts might be up for perjury charges.
Will Bernie Madoff finally get a room buddy. Or could it be Baba.
http://www.latimes.com/business/la-fi-crisis-probe-20110414,0,6709903.story
Goldman Misled Congress After Duping Clients: Levinhttp://www.bloomberg.com/news/2011-04-14/goldman-sachs-misled-congress-a...
And congress will promptly do NOTHING.
Congress will do plenty, that is if you believe doing something is reciting platitudes on television, slapping bankster fraud offenders on the wrist, and then holding out their hand for a campaign contribution. Son of a Bernanke!
seems like those convenient headlines are floated to appease the public only.
the US Govt will do zero.... Regulators will do zero.... but investors who've been sold shit will do the job through litigation
..and of course let's not rule out Goldman Sachs who bankrupted themselves once already and think they've 'gotten away with it' fuking up and bankrupting themselves a second time round
...these are afterall the 'smartest bankers on the planet' as they like to keep reminding us and there's nothing dumber on the planet than a smart banker
and Benocide printed another $8B today, coincidence?
And gold back to near record high at $1474
BTGD Buy the Goldman Downgrade!
been buying (silver) this morning. and yes i'll buy at these levels given that it might seem cheap with a 50 dxy.
GDX, OIH, XLE seriously underperforming
RobotTrader - Thu, Apr 14, 2011 - 12:45 PM
Still sucking wind big time.
Either commodities are about to crash, or these groups are going to be playing serious catch up soon.
Which is it?
Image #1:
Image #2:
Image #3:
Miners trading like absolute shit for good reason.
keep posting. it'll distract you from your losing positions.
like trying to lose his virginity?
Robo trying to forget about getting stuffed in a locker after being molested by his gym teacher.
ha ha ha! +100
lol. you guys are killing me. things are festive today!
I can actually feel the earth rumbling beneath my PM mining stocks, the same way the ground shakes just before moment you strike oil.
Well said Kenny. Worth a nice Armani suit...
Gold up $13, silver back over $42, damn sucks to be you Catfishmouth.
Amazing how the market erased most of its losses today. Nothing like much worse than expected employment data to spark a rally in this FUBAR market.
Big POMO today. Pump it up.
The percentage of all Americans working right now is the lowest since the Reagan era... and all that matters to the markets is a POMO pump.
It makes you want to bang your head against the wall.
Nothing to see here. Move along. All is well.
its all one market AOM vs the DXY. Like a see saw. Watchout if the Dullar ever decides to go up. What You have is a playground with Mr Soros and Mr Gross running around and are about to go home with their toys.
Correct. The Dixie is going to make the Goldman commodity buy possible...my theory, anyway. The price action on SLW has me feeling patient yet on the buy side of silver.
They will spike that dollar, crush little Miss Euro [whose three day chart looks like a meth trip on Piccadilly Circus]...until that is all anyone is talking about. The dumbest algo's will all be unwinding...and there Goldman will be sopping it up...with Bernanke Bucks, no less. The irony of it all.
Hi cdad
Agree fully on SLW... hasn't been keeping pace with the /SI and it normally tracks it 1:1, with even an extra bit of ooomph. Something keeping the miners down today - not even the ES can boost them as its been up hard since that 1298..
Will wait and watch for eod tomorrow before jumping into silver long again. And lol @ piccadilly meth trip... scary stuff that EURUSD at 10amGMT but as i type now look at that ROUND FUCKING TRIP back to 14498s again teasing the 145 handle. Crazy.
ZeroPower,
That Euro dollar crap literally has to break. That vol is clearly the "I'm going to jump" signal. Ridiculous...like everything else the criminal syndicate touches. That alone should rerack the stud man USD.
Then...you get your PM shot. It will suck buying it, to be sure, but I think that is the trade. SLW is the vehicle I go to on the silver trade...and it is not acting right today.
Absolutely, run the 14400 stops and get more bang for the buck... last 7 hourly candles, all green-> GO FIGURE. Good thing i only watch the EURUSD and dont trade it, i think i'd have a smoke in 1 hand and a scotch in the other to make it through a trading day.
Re SLW, might have traded in sympathy with CDE as it was down hard today just noticed, might have been to do with Bolivian situation.
Maybe on SLW...but I ain't touchin' no syndicate inspired AH bid on the spot price...either way.
I think I know what I know from experience. And one of the things I know is...when the Street starts making "fundamental" calls...at the end of a liquidity driven, speculation mad market in anything that is heavier than air...it is time to stand aside and focus one's thinking on strangely counter intuitive ideas.
I hear Citi just got concerned about the US dollar...for example. LOL!
You let me know when you take a position on SLW...and I'll consider your thoughts at that time.
I think the markets have been taken over by the crew from Bizarro World.
http://www.youtube.com/watch?v=F6ROXLtorwY
I missed that dip in silver. Thought it would go lower. You gotta be forking fast these days.
You really want to trade against GS, do you?
I panicked out then panicked in for about a 3 percent gain which, unlike another robotroll i know, i document in real time my buy sell prices.
It will soon be time to panic out again for a little longer when the.deflation scare builds up a full head of steam. Ewz, gdxj, vde, and yes bidu. Im kinda embarrased about that one.
Im through with margin. I dont need a heart attack.
P.s.
Genius is high beta into a rising market.
i was junked for this the other day. i keep records on the hourly (market hours only, no pre or post market records) for slv. if silver is down on the hourly bar 2 times there's a 71% (it's gone up) chance the third bar will be green. i trade these odds to add a few bucks where possible on the sell off. i sell the rip up.
Dont know what to think of this... SLV tracks the SI contract. If you could find something on that item then youd be in business. Removing about 2/3 of the tracking to only follow SLV from 930-4 is kinda pointless, but whatever works for you i guess
that's why i said there are flaws. but like you said slv tracks the si contract, and it tracks the si 8:30 to 3 cst just as it does the rest of the day. in addition, knowing the odds of success based on a lengthy pattern seems like a good piece of knowledge to have before entering a trade. cheers.
Bolivia is reading ZH...getting long silver.....of course its going to use GUNS>> Nationalize bitch>
Juan Evo Morales Ayma (born October 26, 1959), popularly known as Evo (Spanish pronunciation: [?eβo]), is the 80th and current President of Bolivia, having held that position since 2006. Politically a socialist, his presidency has also seen a focus on implementing socialist policies in the country, introducing land reforms, nationalising various key industries and opposing United States and corporate involvement in the country's politics.
Bolivia's Nationalization of Oil and Gas
Author: Carin ZissisMay 12, 2006
http://www.cfr.org/economics/bolivias-nationalization-oil-gas/p10682
Pro or con, it seems to be baked into the pie.
As soon as a South American country votes in a socialist government, pull out your money.
It would be amusing to count how many hits are coming from Goldman.
The move in silver today looks mighty squiddy.
It's all figured in; the master time clock be the GSR ticking to parity. Credit bubble in defcom5.
Does anybody here trust GS and what they are saying? Really? If so, why don't we all run out and buy some CDO's from them? I believe they are showing signs of desperation in their efforts to support this market. I think most paper trading now is of questionable value.
Anyone know why CDE is down 8%??
News, Rumor??
read..above^
Bottom line is that the perma-gloomers hiding behind their sandbags have been dead wrong. Despite everything that has gone wrong in 2011, retail stocks like BBBY, WSM, WFMI, etc. are still pinned at 52-week highs.
Maybe gold shares will catch up, but maybe not.
The fact is this, retailers have flat out outperformed.
AAPL and the banks are rolling over....if that sticks....how long do you think the retail stocks will hold up.....short 50,000 BAC via options....
Axe,
That is the rub. It did not stick the last two days, but if you watched the trades on Apple over the last two days...ridiculous how few shares were used to lift it out of trouble. As such, there is nothing sitting under it right now...so there is a better chance that it will stick this time.
Looking for a close under $329 today. That is where the stock should be right now were it not for the "horse fixers" yesterday and the day before.
agree...with you market is very thin..
again i see you're able to poke fun at yourself by calling yourself a perma-gloomer given your admission you hold an ira full of gold stocks to go along with gold coins. welcome to the world of the merry band of gold and silver holders.
Damn you with your facts, Robot! You can prove anything with facts. What does that prove?
Or something....
facts like bbby is flat yoy. silver up 125%. robo is a world class exaggerator. he thinks folks won't check his "facts" out.
or wfmi up 65% yoy. silver up 125%.
or wsm up 44% yoy. slv up 125%.
Silver seems like a hedge to me.
I would have thought 40x leverage on a position held for four hours because you suspect there's 50bp in it is the, err, nothavinahedge way. Take your profit, ring various sorts of dealers and do it all again in the afternoon.
Facepalm
So end all easing.
B O R I N G
The fact is I moved heavily into silver miners in September of 2010 and ALL of them are up over 100%. My worst performer USSIF is only up 103% while GPL, which I bought on 9/3/2010, is up over 400%. Which retail stock did IN FACT outperform them? I would like to know.
Out performed WHAT, exactly?
My silver beat the shit out of your portfolio, and all of it's components. Face it, you are getting your ass handed to you by the doomers, and you just can't stand it, so cry, bitch, and moan like a 7 year old girl with a skinned knee.
Time to hang up your trader hat, loser.
Your rolling in lingerie. It's the perfect WS gift to 'that significant other'.
Just applied to Wellington. Maybe I can transfer my legal skills to financial, help crash the system a little faster and make a few extra bucks in the process. After reading the MA SJC decision this morning...I'm doing it wrong (except the cheating on the spouse part):
Nancy W. ADAMS vs. Nicholas C. ADAMS.
SJC-10671
How about perma-realitiers? Not paper propped up by 1.6T more pieces of recently printed paper. If this is all so 'real' and self-sustaining then why don't they stop POMO?
the casino is open again, today. i've never doubted QE 3. not for a minute.
still, the idea that the CB's know what tf they are doing? pullease! the world's most desperate gamblers, trapped in their own psychopathy and unintended consequeces. trapped!
i don't mind saying that i think the fiat banksters and the "secret intel agencies" have taken control of the nations, including ours. you won't hear slewie postulating that the US's involvement in libya is due to the choice and deliberation of a sovereign nation. it ain't! we're just another puppet on a string.
nevertheless, you will also never hear slewie saying that the little puppet show makes sense. it doesn't. the puppet masters are styooopid, quite ill, and trapped in their own delusions. yeah, but they're all a bunch of fascist pigs and they'd just as soon kill us all!
no shit, sherlock! we're armed up the ass, too, kids! this ain't canada or great britain. 2nd amendment. a well-ordered militia. the banksters may have taken the goobermint. what else is new? they're not The People, tho. We are!
perhaps the time approaches when if one is not part of the answer, one is, really, just part of the fukin problem. how many sides do you think there will be? 20? if a person can get his/her head and life straight, good! if not, that's fine, too. after all, lQQk what "they" have done to us! (vomiting).
i always get junked when i hang outa my picture frame over this. so what? if and when the music stops, slewie will not need a triple lindy to get even. will you?
Any chance Fed does a small manuever today to "simulate" a rate increase at the same time Goldman downgrades Gold/Silver? We all know QE3 is coming, but they need to throw some speedbumps in the way.
several have suggested this, including me. more likely next wed, tho, doncha think?
Thank you. And now back to our regularly scheduled crack-up boom programming.
www.themadmusicarchive.com/song_details.aspx?SongID=27618
i like clees, and benny hill too! shit! i like boy george! still, if ya like a really good one, check out the biggest fukin joker in anybody's deck: Amendment #2...
hey! i'm just tryin to call a spade a spade...
wanna get away? print out a copy of the S&P 500. think. put a little check-mark next to the companies you KNOW are solvent. not think, not guess, know. take 20-30 minutes. how does it look?
Did GS follow their own advice and lose money? Or is it just their client who follow the advice end up losing money.
I bet Goldham Slacks bought tons of oil yesterday after duping the Hoi Polio into selling theirs. ANYONE who reads the news sees what is happening in the Middle East and North Africa.
Oil and Gold are only going up.