Silver Flash-Crashes As Japan Opens

Tyler Durden's picture

First it was gold last week, then it was half of Nasdaq on July 4th, and now it's silver that is taking it's turn in the 'glitch' camp. As Japanese markets opened tonight, spot silver prices crashed around 6% in a few seconds only to instantly rip back higher...



It appears someone was in a hurry to dump over $450 million worth of silver futures...

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Sh0t's picture

I survived with my physical intact

Deathrips's picture

This is known as a reversal position/opportunity for the bigs to hedge.


Long physical!



Bastiat's picture

Stop run.  Let's see if we get a move up.

AllThatGlitters's picture

No kidding.  Check out that reversal on the minute chart!

Live Silver Chart:

Cognitive Dissonance's picture

But it did not rip back all the way.

Mission Accomplished.

AllThatGlitters's picture

Perhaps so.  Certainly would have been nice to see it finish the move higher.

We'll see if it starts to meander back down now.

aurum4040's picture

I can't believe there are still plenty ZH who follow daily gold and silver price movements at this point. Gold and silver are dead and have been for a good while. They won't go anywhere until the next serious crisis. And even then they will be absolutely crushed because of margin calls. Interest rates are still ridiculously low and hasn't gone anywhere but down for 6 years. Of course the market rigged and it will stay rigged. As long as it's rigged, price will never be higher then $2k. Hold very small amounts of physical,, slowly and very slowly accumulate, hold small position in NUGT for the next run, and that's about it. Terrible, terrible money making investment considering all the other trades out there. 

American Psycho's picture

I think i need to create Good to Filled limit buy for Ag at $14 / ounce and just wait for the next flash crash. 

tmosley's picture

You'll get filled and it will drop to $10 later that week. Then $8. Then $5.

Bitchez gonna be buyin' cryptos instead.

cossack55's picture

Cool. That will allow we dinosaurs to pick it up on the cheap side.

Scuba Steve's picture

Yeah, no shit ..... Single digit silver and i'm pushing all the chips to the middle.

All in bitchezz


E-Knight's picture

what cryptos do you have?

tmosley's picture

LTC, ETH, DASH, ZEC, and IOTA. In that order.

Should probably diversify more. And put in more cash. But I'm hoping for another huge crash so I can get a better price.

charlewar's picture

"a fool and his money are soon parted"....

Save_America1st's picture

"A fool and his money are lucky enough to get together in the first place."

~ Gordon Ghekko


class of 68's picture

late to the party

buying  ltc bit eth and xmr  

coinbase and kraken.


still learning

Bay of Pigs's picture

So says the biggest silver pumper in the history of ZH.

Your hypocrisy makes me sick. You're a shit stain here now much like the PM trolls you used to curse all the time. Math Man, bob dabolina and GoldenMiddleFinger ring a bell?

SoilMyselfRotten's picture

Might wanna look at Veritaseum, this could be one special coin(yeah, i know)

The Wizard's picture
Bitcoin - Global Bankers scheme to ditch the Dollar

runswithscissors's picture

Yeah right...if silver drops to $10 I'll load up big time...$5 you won't find any phyz...bitchez

tmosley's picture

>Won't find any phyz at $5

Tell me that when the supply chain is fully automated.

JohnG's picture

I've staggerred these for years....

mosfet's picture

Yep, USLV should have been open for extended hours trading.  A few lucky folks probably made a quick 25% profit or 50% if you had DSLV, sold it at the botom and bought USLV.

Kaiser Sousa's picture

the fact that its laying flat where it is is all the evidence u need to know that its the Fed & other Central banks thats behind the drive by...

"fool me once shame on you...fool me twice FUCK THE MONEYCHANGERS..."

TahoeBilly2012's picture

They cleared out many longs and now buy those positions. They bombed it right as it was breaking back up...what a joke.

datapanik's picture

A good chart is worth a thousand words. If I stack any more my house will disappear down a sink hole; it's groaning from the weight. 

AllThatGlitters's picture

Gold kind of did the same thing, but not nearly as dramatic:

Live Gold:

TrajanOptimus's picture

Whomever bought at $15.30 is laughing.

I'm laughing because my stack has a numismatic back-stop.


bluskyes's picture

Maples, eagles, or something more exotic?

meditate_vigorously's picture

What is the point in paying markup for coins over spot price? Especially with how much you save in buying 100oz or standard bullion.

Should we ever need it, I doubt anyone is going to object to hand poured denominations.

Dancing Disraeli's picture

Having a coin that is easily recognizable has its merits.

Ahmeexnal's picture

1917 standing liberty quarters are nice.

therover's picture

Yes they are. 

I'm into Morgans. VF and above. Every week I throw some fiat away and buy one. 

crazybob369's picture

I was thinking that to. How quickly would JPM be able to dump paper contracts and buy phys. Guessing a minute or two would give them enough time.

So, some quick math: a silver contract is 5,000 oz. I’m guessing to make silver drop $1.80 in a minute you have to dump maybe 1,000 contracts (5 million ozs). So you drop 1,000 paper contracts, immediately pick up 5,000,000 oz of physical watch price climb back up  by about $1.60, make a cool $8mil in a matter of minutes.

 What a racket!!

TheEndIsNear's picture

"make a cool $8mil in a matter of minutes."

But what happens when they have to buy back their paper contracts?

crazybob369's picture

They don't. It's not their contracts they're dumping. OPM.

meditate_vigorously's picture

I am ready to buy, I am just trying to consult the spirits on if we are close to a bottom on Ag/Au.

stacking12321's picture

consulting spirits is witchcraft, the bible doesn't approve of people like you!


WorkingPoor's picture

The injunction was not against POTION makers, it was against POISON makers. And it is difficult to think of anything more poisonous than individuals that use the Book the way you are.


And all of this way offtopic... how bout getting a grip, a clue, and back t this flashcrash?


stacking12321's picture

"use the book"?


i'm not superstitious, the comment was made in jest, so you get a grip first.

Raffie's picture

I just checked my stacks and they look unchanged.

robertsgt40's picture

Yup. No biggy. Gritch here, glitch there. Didn't impact my inventory 


No silver paper cuts here, either. 

Fuck them up the ass with a barbed wire covered baseball bat lubed with flaming napalm.  

Jimmy Jimmereeno's picture

Just warming up, a few markets individually, to get you ready for the collective "big one" and I'm not talking Yellowstone.

robertocarlos's picture

But local scientists estimate Yellowstone will cough up 200 million tonnes of silver and 10 million tonnes of gold. That will slam the price down for sure.

The Wizard's picture

It won't slam it too hard if the price is based on physical and not paper. If gold is returning as a currency, there is that much needed to replace the fiat crap.

tmosley's picture

6%? I have a low of $14.27 on kitco.

Won't bother to do the math, but it seems like more than 6%.

Reminds me of the Sunday Night Massacre.