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Gold Flash Crashes, Halts Trading As "Velocity Logic" Circuit Breakers Triggered
UPDATE: Gold futures are back in the green for the day...
and Bitcoin is back under $1000...
Rumors of a 'fat finger' abound from the gold futures pits but the precious metals complex just collapsed instantaneously... and the market was halted for the now traditional 10 seconds as circuit breakers were triggered, only this time instead of Stop Logic the event was "Velocity Logic" or lack thereof. Of course, the timing is perfect as it occurs right before the first POMO of the new year.
With massive volume flying though the futures markets...
Taking us back near 2014 lows...
Courtesy of Nanex, the clear gold trading halt shown below:
Some more pretty charts showing the slam:
Meanwhile, silver...
and the ETF:
So... a New York Fed fat finger?
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any size move up or down less than $100/oz is a joke.
We appear to putting in a bottom at all-in mining cost which is where we are, give or take.
The big boys on the other side of the world are going to pick up their ball and go home. New exchanges will open that are not rigged. When those are in place and they start reflecting a more natural valuation, you know where the action will go. That is about the point I predict the Chinese and Russians will start scouring the West for gold and silver, like they are for antiques and RE now. This is the peddler in me talking; I am definitely getting into position for that migration.
Gold/Silver is the ultimate contrarian position at present because they are held in odium by the people who want to print currency unabated. They act like a thermometer for inflation of money supply and are certainly, without doubt being suppressed in price at this time for that very reason. WS and MSM is just going along for the ride.
Like Sinclair has been saying for years, you should be in here only if you are not riding margin, if you have time, if your position is not lifestyle-changing and if you have the stomach for it.
My gramps was a stacker. He educated me about real money from a very young age, and when he died, he turned his stack over to me. I have not sold any of it and have only continued to add on over the years, keeping the "tradition" going. Let's see how it all turns out when the music stops.
Fat finger = well fed finger
This is why you should only buy physical if you are not speculating. You will just get your ass handed to you.
What time does the Yellen confirmation/POMO rally arrive? Looks like the Bears are getting aroused here.... Another false chubby?
Sorry, all governmental regulation entities are busy surfing porn sites, please call later.....
bitcoin:
next target 2000
realtime charts: http://btcpost.net/index.php
next target $300 not $2000 - on massive volume spike
http://flic.kr/p/iFQMoV
No matter how hard they drive the price down, it keeps bouncing back. TPTB will be running out of ammo any day now and will have to concede defeat. In a perfect world that is.
BZZZZZZ! WRONG .... TPTB never runs out of ammo
BZZZZZZ! WRONG .... TPTB never runs out of ammo
They can run out of pms to deliver--that is the real ammo. Then their paper pricing mechanism runs out of credibility.
Repeat of June/July , only so low they can push it.
Short interest is also much lower now, last time the shorts really piled on as it rose from 1200... I'm thinking this time it will not repeat that same way. The move upward may be sustained and bull market in PMs may finally continue onward.
Sociological maneuver to shift gold holding back into equities. Who called Wolf?
/sarc
Bitcoin – a product of the Federal Reserve.
Only the blind can not see it.
If that were ever revealed as true, the market would create an alternative.
Yes, the market would create an alternative.
After 100 years alterative currency will be created. But by that time, the Fed has already come up with its new replacement currency.
No. Creating an alternative digital currency is easy. The open source code can be forked and altered and put under new management within a year.
This is also a risk for bitcoins value in the long run.
The main question is not about creating an alternative currency. The main question of the dissemination and acceptance of alternative currency.
We have no alternative to the U.S. dollar is not it?
All that is in front of the prefix "The global World or International" - it is the property of the United States. Or controlled by the United States.
Everything else - the local and minor.
You sussed it! The Fed's Satoshela Nakamostein is the real BTC guru.
Dollar discredited itself in the eyes of the public. The Fed also discredited itself in the eyes of the public.
Of course for Fed was needed make a legend about some Satoshi, buyout supposedly created Bitcoin, and then he is evaporated.
Thus, the Fed shows for fools (which the majority) that Bitcoin - a system that "does not belong to anyone," and "no one is controlled".
But this is absurd. In the world there are no financial assets and payment systems that have no owner.
Federal Reserve no longer need gold. Now they have a Bitcoin. As soon ends era the first fiat money - the U.S. dollar, immediately begin the era of other fiat money under the control of the Fed - it will Bitcoin.
Bitcoin system has a limit of coins. But Bitcoin system has no limit fragmentation of these coins.
Crushing coins Bitcoin to infinity - it's the same exact Monetary Emission, as printing FRN.
BLACK HAT- Barnaby Jack - Automated Teller, Medical devices.
So Tyler. The circuit breakers are based on simply a velocity and not an absolute change in value? The algos simply have to bypass the velocity limitations (ie: program a little slower of a velocity) and then large ($100) changes in prices can be manipulated?
This is getting too predictable......last night I posted that I suspected that gold would be hammered on Monday morning and lo and behold. Someone does NOT want it to go beyond 1250, methinks. What a farce this supposed market is....bring on the move of control to Asia!
HSBC is the GLD custodian ?
JPM just sold their 1 Chase vault to China ?
No control of POG...riiight.
$ 17 bounce not too shabby
The Fat Fingers have basically ruled out the use of stop loss orders in every market. If you offer something for 5 or 10% under current prices, the Fat Fingers will flash crash down to take out your orders. I think it is very likely that some traders got into gold under $1200 and were riding it up with tight stop loss orders following the gains in gold. Thus the flash crash happens when the Algos see their chance and the little guys lose - unless, of course, they can execute orders in 10 seconds or less.
I've never seen an order take more than 2 seconds to execute. I know it can happen but the slippage I'd worry about is more than 2% in less than 0.5 seconds.
Snooze, buying gold or any PM is stupidity... if things get bad then flying lead will rule the day and the guys who have the lead will say "give me all your PMs, your self-respect and you ballZ" and when your looking down that barrel you will capitulate. Oh and if you tell me you can protect yourself... I say from flying lead through windows, walls, etc? Not likely.
It can fly both ways.
You might want to think about other options besides bullets flying.
Always. But my response was to someone saying that gold holdings were vulnerable to armed thieves. My point was that armed robbers are subject to the risk of armed defense.
Fuck you, now I am going to even buy more gold only because you made that comment
Bring it on, you idiot
Fat finger down. Fat finger up. What do I (or 3 billion Asians) care unless it sticks long enough to go to the local shop.
They be Bangin' that Physical Gong and seein' what shakes loose. Its like a physical shakedown...its a battle for currency supremacy.
Its a twang.
note to Boris: just loaded adblock and it works...now you and everyone else can eliminate those pesky Asian women...
will ZH survive without the cheesy promos?...I'll pony up a few $$ to keep the visual junk off site...
How much gold is there in fort Knox?
In Fort Knox no gold, there are only Bitcoins.
There is only these in fort knox
http://www.youtube.com/watch?v=7GSXbgfKFWg
hahahahaha. "gold needs charts and graphs now." this is an SNB story...all levered to the the hilt of course because that's the only asset on their balance sheet...plus the price and direction bet of course. we'll see how much longer the Swiss Franc can hold out here. the real estate market ain't cheap out that way either.
Don't forget that GSCI Index rebalancing starts on Jan.8 & goes for 5 days and then DJ-UBSCI Commodity Index starts rebalancing on Jan9 for 5 days as well.Could see a test of the 50 day moving average on gold the next week or so as some take a closer look at risks for 2014.I still say that Israel will take-out Hezbollah in Lebanon once and for all and it could be pretty big.Question is only when.
Was thinking about taking a levered gold position a few days ago.
Glad i did not and bought some coins instead.
Gold quater eagle,beautifull coin.
Some new maple leaves silver 2014,looking real good.
Happy stacking at these depressed price levels.
Come on ptb is this all you can do,dare us.
We are with millions waiting for you to push the price under $1000.
We keep buying together with the Indian and Chinese people;
2.5 BILLION people,how about that.
I'm still kicking myself for missing the 1180 low a few weeks ago, i was ready to buy but thought it would go lower. It went higher from there. Patience, there is more downside, but my greatest fear is the banks will halt access to accounts before I get to spend it on G / S.