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If 8:20 am Then Sell, Sell, Sell Gold

Tyler Durden's picture




 

Presented with no comment...

 

 

as gold futures saw a huge volume rush...

 

Charts:Bloomberg

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Wed, 11/28/2012 - 09:25 | 3016968 Squishi
Squishi's picture

else:

buy bonds

Wed, 11/28/2012 - 09:28 | 3016985 HoofHearted
HoofHearted's picture

and then...buy AAPL or NFLX or CMG. Anything at all. 

Love, PPT

Wed, 11/28/2012 - 09:41 | 3017035 dlmaniac
dlmaniac's picture

Who needs Black Friday or Cyber Monday when you have good ol CRIMEX ANYDAY?

Perhaps Jamie Dimon is trying to prove he is up to whatever rigging job a Sec of Treasure is called upon.

Wed, 11/28/2012 - 09:47 | 3017087 DeadFred
DeadFred's picture

The upside is the high correlation between this insanity and the recent declines of the equity markets. Maybe there is some code written into the algos that turn them into selling monsters when they see gold get sucker-punched.

Wed, 11/28/2012 - 09:49 | 3017100 TruthInSunshine
TruthInSunshine's picture

There's manipulation.

And then there's just bogarting the f*ck out of it.

Wed, 11/28/2012 - 09:52 | 3017109 economics9698
economics9698's picture

Let me guess, Senator Reid’s office leaked out there was a financial cliff deal and the bankers won!   Just a guess.

 

http://usa-wethepeople.com/2012/11/the-fiscal-cliff-was-1998/

Wed, 11/28/2012 - 10:00 | 3017139 General Decline
General Decline's picture

Depends on your world view. Is it sell, sell, sell or is it buy, buy, buy?

Wed, 11/28/2012 - 10:18 | 3017210 flacon
flacon's picture

AAPL puts, then buy gold. Wash, rinse, repeat.

Wed, 11/28/2012 - 10:26 | 3017233 savagegoose
savagegoose's picture

ohh look the wolrd econ is all better now?

Wed, 11/28/2012 - 10:30 | 3017252 strannick
strannick's picture

Dirty old gold. Blech. Meanwhile CFTC Commisioners Jill Sommers and Scott Omalia see nothing manipulative in selling 7000 + contracts in 5 minutes to send the price plunging the day after options are excersized. Stop playing Comex. There are dozens of miners who would like to meet you.

Wed, 11/28/2012 - 10:47 | 3017320 Lewshine
Lewshine's picture

@ Stran:

Worse than that, yesterday saw the highest PUT buying in December 1690/1700 pricing...In two years. - Think maybe someone got the memo that Jamie and Blythe were gonna work their magic? This market is complete trash!

Wed, 11/28/2012 - 10:54 | 3017343 DeadFred
DeadFred's picture

Maybe it isn't manipulation. The size of the sell order suggests that Brazil just off loaded their entire gold reserve in a few minutes. Maybe they just got the memo that it's only a barbarous relic. 

Wed, 11/28/2012 - 11:09 | 3017369 TruthInSunshine
TruthInSunshine's picture

In less but still precious news:

 

Report: States Can Get More Than $9 From Feds for Every $1 They Spend Under Obamacare

 

WASHINGTON - States will receive more than $9 in federal money for every $1 they spend to cover low-income residents under President Barack Obama's health care law, according to a nonpartisan analysis released Monday.

 

I mean, it's not as if we have any sort of ginormous, unpayable federal debt at present, or aren't actually adding to it at 1.3 trillion (soon to be 1.6 trillion) per annum, amIright?

Fire up that modern electronic equivalent of the fiat printer, Bernank. Get busy Monetizing, bitch, or get busy dying!!

Wed, 11/28/2012 - 11:10 | 3017387 Manthong
Manthong's picture

It’s just a good thing there are no “Operational Limitations” for the Central Banks and their minions when it comes to delivering Federal Reserve Notes.

Wed, 11/28/2012 - 11:21 | 3017412 TruthInSunshine
TruthInSunshine's picture

 Bigger Boat Sound Clip


George: "Alright, 3 million, I counted it twice."

Diego: "2.5, 2.5, I'm sure."

George: "I'm calling it three."

Diego: "Then we are half a million off huh?"

George: "Well, fuck it. I'm not counting it again."

Diego: "Weigh it."

George: "Huh?"

Diego: "If it's 60 pounds, it's 3 million. 50, it's 2.5."

George: "I don't give a shit, it's close enough. Where do I put it?"

Diego: "Uh, try the back bedroom." George: "No room." Diego: "Try the closet."

George: "Uh, we're going to need a bigger boat."

Wed, 11/28/2012 - 11:23 | 3017419 Stackers
Stackers's picture

Sorry guys, that was me. I ran out of clothes to sew my gold into and had to dump the rest.

Wed, 11/28/2012 - 15:37 | 3018223 Joe Sixpack
Joe Sixpack's picture

Ahhh...

 

That was the golden cliff.

Wed, 11/28/2012 - 17:07 | 3018476 smiler03
smiler03's picture

But ZH keeps telling me that gold is a store of value so why does everybody fret about this? (I'm NOT being sarcastic)

Wed, 11/28/2012 - 18:31 | 3018711 TruthInSunshine
TruthInSunshine's picture

It's more frustration with the obvious paper gold manipulation than anything else.

Pull up a thousand year chart of the barbarous relic and take solace if you ever find yourself trending towards the fiat bugs' viewpoints.

Wed, 11/28/2012 - 10:56 | 3017351 Ignatius
Ignatius's picture

7,728 contracts in 5 minutes.  I'm sure they're just tryin' to get 'best price', right?  /sarc

Wed, 11/28/2012 - 14:14 | 3017966 JLee2027
JLee2027's picture

CNBC reported "someone" sold 15,000 contracts. Anyway, it moved the price down only 30 dollars. The amounts needed to move the price down continue to grow larger and the net effect is smaller it seems to me. 

Wed, 11/28/2012 - 11:15 | 3017398 klockwerks
klockwerks's picture

Not an expert here but have been watching gold today and being a small potatoes guy, I'm thinking it is a good time to buy. If the clowns can't come up with some agreement will gold coninue to go south? I plan on watching it and buy a sack of 1/10 or 1/4 oz  pieces. Does anyone here have any advise on either size and in case everything goes south what size is best for using or bartering. Could use some help here

Wed, 11/28/2012 - 11:28 | 3017432 Debugas
Debugas's picture

gold will not be useful in day-to-day transactions so do not bother and buy it in 1 Oz or  bigger

Wed, 11/28/2012 - 14:06 | 3017936 EINSILVERGUY
EINSILVERGUY's picture

I don't agree completely. The bulk should be 1oz AGE or maples. You should have some 1/10 and 1/4th ounce AGE as a bridge.

Start with 90% dimes, quarters, halves and a few silver dollars(premuims are too high to buy a lot of these)

Then move to 1 oz ASE, Maples, Phils, then 5 and 10oz bars . Anything higher than 10oz bars might be problematic for daily or medium purchases.

The 1/10 and 1/4's can be used for purchases of equal to or more than 5 oz based on a  StoG ratio of 50:1 which will come down if SHTF

 

 

Wed, 11/28/2012 - 15:09 | 3018131 FEDbuster
FEDbuster's picture

1/10 AGE goes for about $200. in today's FRNs.  What do you buy day to day for $200.?  A 1 oz AGE is about $1800., what do you buy each day that is that amount?

I would say your best barter coin value is the pre-1964 90% silver quarter, current value $6.  Often times dealers will sell for silver value or a slight premium.  I have two local places that will sell for spot value, if buying over 10 coins at a time.  Silver is for barter, gold is for wealth preservation.  Also, food and bullets are good barter items to stock up on. They both have been going up in price over the past few years.

Wed, 11/28/2012 - 16:15 | 3018317 Bansters-in-my-...
Bansters-in-my- feces's picture

@ klockwerks. I think buying one oz bullion coins is the best way.

1/10s and 1/4s have too much premium on them,you have to hold a long time to make that premium back up.

1/2s are not bad but still higher premium.

You want to buy gold to save your wealth not to spend like fiat.

You should only sell when you are in need of fiat.

Maple leafs are good and krugerands,any soverign,but I would stay away from the American Gold Eagle.....

Well,because it is american.

Even the eagle on it must hate it.

Cheers.

Wed, 11/28/2012 - 10:28 | 3017244 Comay Mierda
Comay Mierda's picture

nah prob the FT or some other propaganda outlet in charge of getting algos to sell through important support levels

Wed, 11/28/2012 - 10:11 | 3017181 TWSceptic
TWSceptic's picture

This is just too blatant, to get away with this you need help from government (or did the order come from them?)

Wed, 11/28/2012 - 10:26 | 3017234 DeadFred
DeadFred's picture

Wall Street trading houses/TBTF banks/the Fed/US Government

It's easy to see the slashes in the line above but in real life the boundaries are a lot fuzzier

Wed, 11/28/2012 - 10:13 | 3017192 Water Is Wet
Water Is Wet's picture

Everyone knows the way to get the best price/execution is to sell your entire huge order in 1 print, especially in a low volume market.  That's, like, Wall St. 101...

Wed, 11/28/2012 - 11:19 | 3017410 dbomb12
dbomb12's picture

It is amazing how you can affect the physical market with paper ETF,S

Wed, 11/28/2012 - 09:55 | 3017118 gold-is-not-dead
gold-is-not-dead's picture

It's just classical paper shake off. We've seen it many times.

Wed, 11/28/2012 - 10:15 | 3017197 knukles
knukles's picture

BINGO

Just another "Hold on boys, let's not get too happy about that fiat debasement....  Y'all ain't gonna get a clean free ride here.... Goldman was short and so....

 

Actually.

Yesterday was options/future settlement and a bazillion in the money options got converted in to futures contract longs.
So them bad ass motherfuckers betting on the rise in the price of gold now gots variation margins to deal with, we wants some of that cash, boys.
Slam 'em down.

Typical in the money options to futures being punished by the shorts...

Nothing to see here, typical manipulation.
Pay....

....and then move along

Wed, 11/28/2012 - 10:38 | 3017283 Al Huxley
Al Huxley's picture

Great call.  Yes, when the commercials are > 2:1 short:long, you can always be sure the smack-down is coming.  Either just before, or immediately after options expiry, depending on how they feel they can make the most $ off their infinitely deep pockets and control of the rule book.  Rotten, corrupt fucks that they are..

Wed, 11/28/2012 - 09:49 | 3017101 Top_Kill
Top_Kill's picture

Precious Wednesday!!! I see big bars of the white metal in my stocking.

Wed, 11/28/2012 - 10:21 | 3017217 The Shootist
The Shootist's picture

Ben did it in direct response to the ZH guest article of  him being a currency manipulator. Avast!

Wed, 11/28/2012 - 10:11 | 3017184 johnnymustardseed
johnnymustardseed's picture

Fuck JPM!

Wed, 11/28/2012 - 12:18 | 3017600 JPM Hater001
JPM Hater001's picture

"Perhaps Jamie Dimon is trying to prove he is up to whatever rigging job a Sec of Treasure is called upon."

Even to manipulate the independent institution we call The Fed?

Wed, 11/28/2012 - 09:34 | 3016994 GetZeeGold
GetZeeGold's picture

 

 

Don't you love it when Ben Shalom subsidizes gold?

 

Everyone else blew their money buying crap on Black Friday......but not me.

Wed, 11/28/2012 - 09:35 | 3017028 Muddy1
Muddy1's picture

I sure do.  BTFD

Wed, 11/28/2012 - 09:42 | 3017058 GetZeeGold
GetZeeGold's picture

 

 

Wow.....who the hell did you just piss off? Wonder who that guy is? He just comes in and junks leaving no explanation.....and then he leaves.

Wed, 11/28/2012 - 09:45 | 3017076 kralizec
kralizec's picture

Maybe his name is Ben?

Wed, 11/28/2012 - 09:46 | 3017079 GetZeeGold
GetZeeGold's picture

 

 

Musta brought Tim with him this morning.

Wed, 11/28/2012 - 10:22 | 3017120 TruthInSunshine
TruthInSunshine's picture

Yep, that's Ben "Mister Grinch" Bernax, and he has a devious plan to steal all the precious under the Christmas Trees in Whoville & replace it with Fiatski paper IOUs.

Timmmmmmay can be Max wearing the antlers and pull the sled.

 

You nauseate me, Mister Grinch,
With a nauseous super "naus",
You're a crooked dirty jockey and you drive a crooked hoss, Mister Grinch,

You're a three decker sauerkraut and toadstool sandwich, with arsenic sauce!

Wed, 11/28/2012 - 10:26 | 3017231 FEDbuster
FEDbuster's picture

Let the paper pushers give us a Black Friday sale on physical.  Not too many better gifts to yourself or your family than some physical silver or gold. 

BTW on Black Friday gun sales set a new record of over 150K background checks in a single day.  My wish list is short: gold and silver bullion, copper, lead and brass or the means to deliver them, and nothing says I care about you like a few five gal. pails of rice, oatmeal, wheat and beans.

Wed, 11/28/2012 - 11:17 | 3017404 kekekekekekeke
kekekekekekeke's picture

ugh why is most easy cheap long term food storage not paleo-friendly :( anyone know of any paleo prepping blogs?  Stockpile shit tons of beef jerkey?

Wed, 11/28/2012 - 13:56 | 3017905 LosOsos
LosOsos's picture

Check out quinoa. It's sort of like a grain but it is gluten free,a complete protein, contains a bunch of amino acids, and a good source of calcium, phosphorous, and iron. Plus it goes great with leafy greens from the backyard garden :).  

Wed, 11/28/2012 - 09:37 | 3017039 Urban Roman
Urban Roman's picture

Barbarous relic. I'mma throw all mine in the dumpster.

Wed, 11/28/2012 - 09:42 | 3017064 darteaus
darteaus's picture

They are now giving it away with Obama phones and government cheese!

Wed, 11/28/2012 - 09:44 | 3017071 kralizec
kralizec's picture

Just buy more, then have the boating accident...

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