And The Opening ES Print Is...

Tyler Durden's picture


Sorry, Timmy, Boehner, and Obama. No apocalypse. Better luck next time.

Update: 1326...

Maybe we spoke too soon.

Update: 1322...



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Sudden Debt's picture

Silver 40.5

Gold 1608

Captain Benny's picture

$1610 is a coming!  But don't worry, the tubes told me that gold is not money and that Benny boy can raise interest rates in 15 minutes to put a stop to Gold's rise.


I can't wait to cash out my SPY puts this week ;-)

camoes's picture

Yawn, wake me when silver is 50 and gold 2000

camoes's picture

I look forward to see how they price my 1700 gold jan calls tomorrow...yum yum yum

narapoiddyslexia's picture

Gold at 1615 as I write this. Anyone remember rajat_bhatia saying earlier today that, "Here i'm again fellas, my gold shorts are gonna pay me big time tomorrow, when the market opens"

Long-John-Silver's picture

Something is in his shorts and it's feeding on his ass. I don't think Gold eats flesh so perhaps it's a ravenous Gold Bug infestation.  

MissCellany's picture

Wasn't he the dude who had a shorts-load full of copper the other day?

And was begging everyone to tell him what to do with it?


Overflow-admin's picture

I spotted that one too, now LMAO. Makes me think about the trolls screaming their hypotetical gold shorts targets around october 2010 (still waiting 1275?)...



Is rajat_bhatia our new top calling troll?

Rynak's picture

When will you folks learn, that metals spotprices are paper prices - including all the consequences?

They can be whatever "they" want them to be, as long as the physical market doesn't desync for whatever reason.

That also means, that in spotprice there are no fundamentals - they want it to go up? It goes up. They want it to go down? It goes down. As long as physical doesn't desync from it.

Spot metal prices: Irrelevant unless you're buying or selling... doesn't say anything about supply/demand.

narapoiddyslexia's picture

FWIW, and its probably not worth much, I think the PM market can be manipulated, especially silver. But gold is a different matter, and over the longer terms I do not think it can be manipulated very successfully if at all. And over the short term, silver is not manipulated, either. "They" have to be actively engaged, and I'm not sure they are right now. "They" can always ask for increased margins and silver will come down.

Rynak's picture

I think that manipulation can happen to the full extend of popular "believability" - that is: False information works, until it doesn't.

From my experience regarding curent society, it stops working when shit hits the fan.

Translated to metals: It can even over the midterm (years) be manipulated, until it becomes obvious that it is untrue (i.e. unability to deliver).

What that IMO means for spotprices, is that spotprices will be the lowest that people are willing to believe, without outrightly revolting (desync/decoupling).... and the transition from one to the other, may be rather sudden and harsh.

So, don't bet on fundamentals, except for scenarios where they are UNAVOIDABLE (in other words, default).

While it may be true that "they" are more careful about gold reaching this threshold, than they are about silver, that still leaves a lot of room for manipulation as long as the threshold of tolerance against bullshit, isn't reached.

Bottom line: Fundamentals wil only matter, when shit hits the fan. Everything before that, is just a matter of sustaining suspension of disbelief. And there is a lot of room in that, even if not unlimited room.

Rockfish's picture

$56.97 per Gr = a movie with the wife. Whats playing? Why what else "Apocalypse NOW"


ElTerco's picture

That's right.  It's a transition from a low dollar price of gold to a high dollar price of gold.  See?  Ben was right all along, and he'll let you know that a year from now!

Captain Benny's picture

Try $1615 only a few seconds later :)

Long-John-Silver's picture

To do that would require an admission that Gold (and Silver) IS money. 

darkstar7646's picture

And that stops it... WHY?

Most people believe that, when the dollar finally does die, you'll see oil priced in gold directly! That, most believe, would be the final nail in the coffin for the USA.

Hence, it would be money, at that point.

carbonmutant's picture

BOEHNER GOP CALL summary: He focused on GOP unity, demanding spending cuts. No talk of compromise, instead call for GOP to stick together.

Prometheus418's picture

Silver: +.38 in under two minutes and climbing
Gold: +8.10 in under two minutes and climbing

Prometheus418's picture

Wasn't the only one watching the ticker, I see.

JLee2027's picture

I'm sure the bad guys have their false rumors ready to go to counter any real price explosion.  So, relax. Still a few weeks left.

r101958's picture

Unfortunately, the big guys like JPM like this because once there is a debt deal the profits they take on paper silver/gold will make their quarter.

caerus's picture

(presses fingertips together). Excellent...

Conrad Murray's picture

If you see a dip, buy it out. If you see a dip, buy it out.

Ignorance is bliss's picture

I silver has opened vertically 40.56 as well

IAmNotMark's picture

"Imagine what you'll know tomorrow".  MIB

slow_roast's picture

Dip buyers going to look like suckers as the night wears on.

Long-John-Silver's picture

You confirm my suspicions that Dips don't know what a dip is. Gold and Silver are currently not in a dip, you Dip.

Vampyroteuthis infernalis's picture

The markets are calling Boner and Co. petty charade on Capital Hill. What are the Congresscritters going to do if the markets do not react to the very end of the 11th hour? Mmmmm. My guess is the Repugnicans have everything to gain from defaulting. We have an unpopular, worthless president who has done nothing to help the US or liberal agenda. People are already unemployed and pissed off. Elections are 16 months from now. This disgusting show will be well forgotten by then. Over the cliff we go...........

darkstar7646's picture

You can forget about elections 16 months from now if this continues.

Vampyroteuthis infernalis's picture

darkstar, I don't buy everything is going to collapse if we default. BS! It will force us to live within our means. It will be painful as the ponzi collapses, but it is going to happen someday. Less pain now or more pain later.

Long-John-Silver's picture

If everything had been allowed to fail in 2008 we would not have an additional $4,000,000,000,000 debt. It's already worse.

darkstar7646's picture

Forcing people to live within their means kills enough of the population that everything collapses. The very fact we have 315 million people in this country is part-and-parcel evidence of not living within our means.

caerus's picture

falling knife anyone?

FunkyMonkeyBoy's picture

Don't worry, we'll open green.

Futures not allowed to drop more than 1%.

These are the rules of fascism.

The USA is fascism capital.

SwingForce's picture

Is there a + button on this new setup? I wanna press it now.

42 is the answer's picture

I keep looking for the junk button and don't see a way to do that either anymore.

A +1 button would be nice.