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Curious What Just Took Down Gold?
Gold just slid by almost $10 in the span of a few minutes, starting at 2:40 pm.
Curious why? Here is what took it down. From 2:38 pm.
And that, ladies and gentlemen, is an idiot market, driven solely by headline scouring algos.
Why, if one really wanted to crash the market, one could just tweet "Bernanke resigns" and the S&P would be down by 50% in the next millisecond...
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What the price of 7.62x54R milsurp ain't cheap enough for you already?
Tell noone - Bernanke just resigned.
americanspirit
Bernanke just resigned.
If he was smart he would have LONG before now.His name will go down in infamy in the annals of time.
Tyler .. anyway you can cast a tweet spell on glenfiddich scotch ?
this is fucking driving me to drink
LOL. I'd be more suspicious if there wasn't a jam job attempt. What I live for are when it obvious that the jam job has been overrun. Doesn't happen every day, but when it does I get highly amused.
You've proven your point once again - but this time you've demonstrated that you're no better than they are.
LOL WUT?
How 'bout next time you read a tweet, you make an effort to comprehend it?
Knee-jerkoff much?
"Curious why? Here is what took it down. From 2:38 pm." And what does this mean?
So, stop doing that shit. You just cost me thousands of dollars.
Looking at gold for a few minutes during New York or London Trading is behaving like this man in the Video.
http://www.youtube.com/watch?v=5_5sQyHnbY4
Stop hyperventilating people.
And the feedback here clearly dictates the same failure to be accountable just like those manipulating headlines in the MSM. If you can't own up to the fact that the tweet was irresponsible and refuse to shoulder the responsibilities which come along with what's made ZH such a great site than you deserve to lose all of your credibility. I personally love the information on this site, all sides, but the tweet was stupid.
Get a sense of humour dude, it will lower your blood pressure...
the whole idiotic country runs on pop-culture nonsense like twitter - why should the markets be any different?
WoW, down one latte.....
same old same old .. it has happened 100 times at 3.30 am ,, go look up the chart action of gold
par for the course .. the large banks the fed do not want gold to run away ,, so they smash at certain times,
why is any one surprised.. and wondering what happened .
1800.$ Gold
over the weekend
will not be tolerated..
Ah, the tape is frozen over the weekend Grasshopper.
=)
Yay, 3:30 market tomfoolery is back, how much i missed it.
"#Greece #defaults" at 10:30am EST on Feb 24, as comment-2190515 suggests, is a great proof of concept. I'll report when done.
UPD: for the record, it was done as planned.
Do you have a paid subscription Tyler? Give your thoughts 5 minutes ahead of time for those willing to pay.
Oh great! You guys are brilliant: use zh to spead false rumors and give them an excuse to shut it down. Just brilliant!!!
WARNING: You are now leaving Cyberspace and entering the Real World.
Well, when you got a good thing like that, I doubt you'd be willing to give it away for some token fee. Might as well make some money while you're slaying the sharks Tyler. Servers aren't free.
How's that different than listening to Kudlow or Cramer and what are they spreading?
$10? childs play in the gold market. A limp wristed girly slap. Market already got 1/2 of it back.
As the old fella used to say: It don't mean shit, kid.
A back test to 1760 would piss me off but it wouldn't surprise me or worry me either because I expect it would be very short lived.
it could mean alot to a trader !!
Tyler--- how you going to give us a heads up on the tweets?
This could be great !!!
Could have the rumor a day program, or tweet your day away..........
it could mean alot to a trader !!
Tyler--- how you going to give us a heads up on the tweets?
This could be great !!!
Could have the rumor a day program, or tweet your day away..........
"CUPPERTINO, CA HIT BY NUCLEAR STRIKE"
I love it. 5* for that one, Tyler.
I'll be buying silver this coming week, and am hoping the Cartel beats it down tomorrow. Any help from the tweets would be appreciated.
twitter.com/geesedefaults
http://theintelhub.com/2012/02/23/trillion-dollar-terror-exposed-bush-fed-and-european-banks-in-15-trillion-fraud-all-documented/
http://www.publications.parliament.uk/pa/ld201212/ldhansrd/text/120216-0002.htm#12021643000172
http://www.youtube.com/watch?v=oAK5xzEYq7I&feature=g-all-u&context=G280b247FAAAAAAAAAAA
Ummm?? WTF??
the shitter feed bringeth a massive dump. good thing we got fiat brand tp to wipe it up.
What can take down gold?
1) The political powerful can.
2) The high cost to trade it can because people are get the fuck out of the trade.
Who control the gold and silver trades:
In China - the Chinese government makes rules and regulation and believe it's no different in the U.S. The U.S government makes rule and regulation.
Besides the "financial transaction" tax, wait until the "internet posting" tax.
Could the Greeks have just sold their gold?
Every zerohedge follower tweeting "Bernanke has resigned" at the same time could be interesting..
Don't tweet "Greece defaults", tweet "Greece defaults?"
The question mark makes a big difference. Will the bots know the difference?
Given all the algo trading out there, perhaps it was as simple as recognising when a market is vulnerable to gravity (time of day as well context of price position), then add one of the many chart pattern events that have proven to be uber reliable over last 20+ years. Not rocket science.
Hmmm
I wonder if enough activists coordinated a simultaneous tweet "Bernanke resigns" if it would have an impact.
Zero Hedge should coordinate this as a test to see what happens.
What took down Gold? Are we not just seeing the effects of a one sided market and the order flow when key associated technical areas give way? Of course we willl never know anyway :-) On a similar vein - Gold and EURUSD decoupled earlier this week following largest single day gold rally in two weeks. Turned out to be a good leading indicator as the euro subsequently pulled back ground later on.