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Silver Plunges As Yen Stop Surge Triggers Margin Liquidation
Not a moment after someone was slammed with a massive margin call following the hit of 102 USDJPY stops as we noted moments ago, was that same someone(s) forced to dump a whole lot of silver in thin, no volume trading taking out the entire bid stack on what can only be described as "get me the hell out and pay me anything" liquidation, sending the precious metal to just over $20, before yet another round of buying programs kicked in, and sent it right back up, allowing those quick enough to capitalize on some foolish macro trader's blowing up to pocket a huge profit before Japan has even woken up.
Thank you Kuroda, Bernanke and co for this total farce of a "market."
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It's going to be interesting to see at which point BullionVault, Goldmoney et al start to price the metals at true physical prices, rather than spot.
x-mass in May, 25.45 @ 5 dollars over spot! bitchez...
$5 over spot??? You're getting raped. ASEs are a rip off right now.
https://comparesilverprices.com/
wasn't ASE's. pandas.
What's the big deal? It's up over 650% in 10 years! Amazing considering that most lead zinc miners are sitting on massive stockpiles of silver ore considered "slag" until ten years ago. Silver bugs are gold bugs on steroids.
Hi Ho...BitCoin. Something doesn't sound right.
Don't get mad, get metal:
http://www.silvertowne.com/p-11650-silvertowne-trademark-1oz-999-silver-bar.aspx
...While Bitcoin holds steady at 123 dollars.
Oops. Looks like the "physical" crowd just got pooped on. ZeroHedge has some 'splainin to do!
It's holding steady because you can't trade it.
Why is it always just PMs that get liquidated in these margin call events? (Yes, the treasuries did last week on that bizarro yen action, but that was very idiosyncratic). How come orange juice futures, cotton futures, sugar futures, ES futures, coffee futures never get liquidated?
How come orange juice futures, cotton futures, sugar futures, ES futures, coffee futures never get liquidated?
Because real people consume those things?
Serious or sarcastic? I can't tell, but was just throwing that out there. It's always the PMs that get liquidated. Yes I realize there are a lot of speculators in these markets, but still.
He's a famous ZH anti-PM troll, it's safe to ignore him.
Besides, silver is also an industrial metal, so not only he's trolling, but he is also clueless (buzzbozo99 is contradicting himself when he is not claiming the price should go up because of the phenomenal recovery that we've been having in the exceptional US of A...).
Relax, BTFD and keep stacking.
Hopefully the price will crash below 20 so that we can exit our Fed Loyalty Program and convert our paper savings into something concrete.
How are silver (and gold) users any less real?
If you think gold demand is 100% elastic, try telling that to your indian wife at the wedding.
where's silver going next?
http://www.moneyweek.com/investments/precious-metals-and-gems/other/whats-next-for-the-silver-price-63900
Did we just kill Bin Laden for the third time tonight?
stateside
Call me silly but I'm buying a whole lot more thankyou!
bargain buyers get the last laugh.
This is just the start. Margin is at the nose bleed level. Wait till the SP 500 drops and then the margin calls come in like a flood with no liquidity. Not only will silver drop, so will oil, gold, corn, etc. Commodities will be on sale in a way your imagination would never conceive of.
Then you will see people jumping out of windows because the crimes will be uncovered.
Back to the future ...
"The HOLD vs. CARRY Trade"
SELL-SHORT THE PHONY PAPER & HOLD-LONG THE REAL THING
Long-Term Strategy at present: see >> THIS IS IT...
Short Paper from $30.09 w/e Jan 12, 2013 : Holding Long Phizz
SILVER PROPHECY:
http://www.elliottwavetechnology.com/2013/05/silver-prophecy.html
Mother trucker, they're acting like it's a video game. Or, perhaps more like drag racers in 1950s movies, playing chicken with each other: one always wimps out and brakes, and one hits the wrong pedal and goes over the cliff (freeing his girlfriend to date Elvis, after first seeking vigilante justice with a surfboard/hat pin combo).
Well, I think I'll put in a GTC buy limit order on a brand new BMW SUV for $8,500, and when the algos or weak margin babies hit my bid, I'll be doing drag racing of a different sort (waiting outside JPM HFT offices to run the bastards over and 'drag' them for blocks, after filling the hatch with cement bags.)
It's enders game.
Historicaly gold is about 16 time silver, so should be about $87 per ounce even after the FED smash down a few weeks ago. Out of wack. I see several forces fighting with different agendas. Such as China gov plans to be a far east reserve currency and wanting gold dumping dollars, Fed wants to hide their sins dumping fake paper gold, Europe wealth wants to escape pushing dollar up and gold down, private US investors want preservation in a similar vein, capital controls are anticipated by some and wanting pm.... whatever is going on is mostly unpredictable short term, but if this article predicts a stable $1000 price in a few years then the author is confusing to me. The delima that most interests me is that the initial purpose of QE was to compensate for loss of monitary velosity, but even if velocity increased with the surfs buying more things with money they do not have, then there is no rational way to pull 6 trillion back out of the money supply. The FED makes no outward sense in their actions, but I am sure they are skilled and intelligent, so what is their real intention? The best I can guess is they are buying time intending to deflate savings for outsiders, and deflate debt for insiders like the FED.
Will physical buyers outweigh the paper manipulators?It is the only way to destroy the paper derivatives scam.This week I got a kick out of corrupt news articles which now blame people that purchase gold and silver for taking jobs away from the economy by not investing their money in stocks to support America.Pure banking propaganda at its best.
Believing the Rothschilds is like believing one can be immortal.
The HKMEX closing down with squaring off is part of the prelude to the end of paper trading- not only for PM's but for all commodities.
If one still does not understand that fiat paper has no meaning and trading is a mugs game then they deserve to loose their wealth ( if that is what they call paper money).
Fiat paper is an IOU that your government can extinguish at their will and pleasure.
I always love a good BTFD, but this is utter bullshit.
Oh yes, it's retarded all right. Full retard, in fact. The 'laws' of economics have been perverted by unbacked paper bullshit to the point of reversion, so what we end up getting is a buying opportunity in the midst of unprecedented demand. Yeah, it's fucking stupid! Paper NEVER should have set the price of physical unless it was backed - but it's not backed! HAHAHA! Bail out of paper you fucks! I need to BTFD some MOAR! HAHAHA! :-)
all paper things that represent real things are coming to an end. as it must be before the paper things for paper things fall. real settles up first, then imaginations fight for the rest.
No matter how unattractive they try to make gold and silver look, neither will ever be as unattractive as the US Dollar.
long everything, start buying, cut yer bitchin', fight club phuckers. "can't stand the heat then you're in the wrong line of work."
How many tons of short sales of gold hit the market tonight?
Size doesn't matter. Each to their own. Not the big i am.
Been buying silver in 5k bars from Top 3 dealer in these parts for a couple of years and for the last few months they can't deliver. Just sayin. . .
Would not try to BS anyone. Probably down 15% all in but even if up 50% would not consider selling as i personally have a gut instinct where this is going!!
For the past month, I've been selling the miners, buying the physical.
The basic mechanism of price discovery (based on demand and supply for actual use) of anything traded on an exchange has been terminally infected by speculators having access to unlimited funds and super fast computers for trading leading to volatile price swings. This has been made worse by the launch of ETFs for anything and everything under the sun by the financial community.
In a casino, the house always wins and in all the electronic exchanges, the too big to fail banksters are the operators. Armed with funds from the FED and using High Frequency Trading softwares and Derivatives, they move the markets exactly where they want it to cause maximum losses to the traders and the hedge funds.
Even if they do make a loss, their budies, the central bankers and politicians are there to transfer their losses to the taxpayers so that they have a 100% success record in transfering wealth to their coffers from rest of the world.
http://www.marketoracle.co.uk/Article40231.html
This has to be one of the 'fishiest' smackdowns ever.
Just look at the volumes. Miniscule for the smackdown, ten times larger for the 'fight back'.
...and if traders are soooo smart, how come they still haven't figured out to stand for delivery and the resulting massive upticks that would lead to, especially when buyers appear to outnumber sellers 10 to 1?
That's because "the market" passed away ....
For all who woke up late into the Silver & Gold physical markets:
Stop wining and BTFD!!!