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Precious Metals Liquidated To Make Room For Alibaba, Silver At Four-Year Lows
Precious metals are under pressure once again this morning led by Silver which just hit its lowest since August 2010. It appears investors are liquidating precious metals to make room in their 'safe haven' portfolio for precious Ma's Alibaba IPO... because what could go wrong there... (Russell 2000 is also seeing notable liquidation)
What makes us think this is BABA liquidation (obviously tongue-in-cheek but the timing is odd...)
As Silver gets relatively slammed...
- *GOLD FALLS 0.8% TO $1,215.82/OZ IN LONDON, LOWEST SINCE JAN. 2
- *SILVER FUTURES FALL TO $18.125/OZ, LOWEST SINCE AUG. 2010
It seems Russell and Nasdaq positions are also being liquidated for the "can't lose" BABA...
The Russell 2000 is now below pre-FOMC levels...
Charts: Bloomberg
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Lots of volume in the gold stock I watch and own...CEF...highest volume in a long time....must be those options expire????
That, and "rotation"; a high volatility price day causes churning.
How many shares did "Belgium" buy???
Wow- GSR for silver (the real stuff not the ETF),
@ 68-1.
Seems like Christmas came early
Geez, currently trading under $17.92 down over 3.25%, CNBC says low today was $17.85.
Give the dealers a day to absorb this and see if I can find any silver eagles in stock, time to buy a few. FCX stock has also broken below $34 as an alternative.
Woohoo!! Today is pay day... How much better can life get?
We're at all-in costs here. I am full-on long, awaiting a bounce.
I expect prices to rise for the next two weeks. Of course, I'm frequently wrong. but that's what I see.
Loving the price action from an accumulation point of view.
The only real question is WHEN to pull the trigger? where are the stops...
A 68:1 ratio is pretty decent.
I have a limit order in for GDX @ $22.25 GTC. Not saying it's the bottom, but expecting a bounce soon just in case.
Just speculators selling their positions after betting on a yes vote in Scotland, that didn't materialize.
Heres what shorts see
http://www.barchart.com/chart.php?sym=ZSL&style=technical&template=&p=WO...
Thank You Ali-Baba!
BTFD PM's
Bump (comments on thread).
I hope people read this.
Ali baba buyers are being tricked into giving all their worthless paper currency to the criminals so the criminals can buy up all the gold and silver physical secretly.
paper prices will plummet as this happens. They are buying metal!
if you do not get yours now...you will be destroyed in the end. And the end of this manipulation is soon.
Why are the elite including Soros and Ellison getting out?
Why are they buying gold and silver? This Ali-Baba crap is the perfect trap.
Buy and hold until you die and then take it with you.
The precious metals are being manipulated lower to create a downer mood before the new asian precious metal exchanges open. The predators-that-be are worried these new exchanges, which are more oriented towards delivery of physical metal, might create a huge buying spree. And so, what better way to limit that surge than make everyone feel holding precious metals is "hopeless" and "counterproductive".
For anyone with their eyes open, the manipulators... and [many of] their goals... are fairly obvious.