Tuesday, January 4, 2011

This Is Getting Ridiculous

Presented without commentary. However, I am open to all non-EE related explanations. Anyone?

12/29/10:
12/30/10:
12/31/10: No early morning attack. Gold rises $17, silver up $0.45.

1/3/11: First drop unmarked. It was at 8:25.

Today, 1/4/11:
Never forget that you live in a "free" country with "fair" "markets". More later.

48 comments:

  1. They are gonna defend their short position....just a game......I'll sit on the sidelines with a big wad of cash and watch the massacre....

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  2. Forget this move. Think long term. USD or PM? The USD that comes with Chavez style politicos who fawn over the welfare state.

    I'll take PM anyday.

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  3. gold < 1390 and silver looking below 30 ! Respect !

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  4. She's giving me time to grow my physical... which is nice and much appreciated, but they don't get prosecuted for these shenanigans... which is horse shit!

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  5. i was more concerned with the $50 swing in gold myself

    but wasn't surprised to see it, was just wondering when.

    have a grown to love the beatings?

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  7. The Bernank probably has something interesting to say later lol, gotta hit the commods before the USD falls off a cliff.

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  8. Sometimes it's hard to see the forest for the trees... especially when you are an arborist... I like to look at longer term charts and find longer term patterns... The short term moves are hard to catch... especially given the way Silver is prone to quick sell offs. I think we MAY be seeing a replay of late November... look here:
    http://picasaweb.google.com/lh/photo/zyQVsFtZYziQm240IVoy4w?feat=directlink

    What do you guys think?

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  9. Could this be explained by key resistance at this very moment?
    61.8% of fibo retracement for silver and palladium:
    http://blog.kimblechartingsolutions.com/2011/01/challenges-in-the-metals-complex/

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  10. Mornin' Turd,

    Just another day of way suppressed Metals and Miners prices, courtesy of the EE.

    But what a great day to buy! $29.90 Silver!!! $1,385 Gold!!!

    We all know we're not there yet, and every day JP Mordor and HSBC continue this long running crime wave is another day those of us in the know get to accumulate at sometimes absurd discount to actual value.

    Yeah I hate the thought of being stolen from and man, this can get frustrating. But it is what it is, so on days like today I try to keep in mind that in THIS stage, the best thing to do is accumulate. And I'd rather buy more Metal and Miners on a day like the BM has given us here then during the latter stages of this epic PM Bull after that witch has lost all control.

    So thanks BM. As I'm in no rush, can ya take 'er down a little bit more then? Just realize that lower physical prices only just compress the rebound spring even tighter and invite strong hands into the market to replace weak ones.

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  11. I sure as hell wish this activity in PMs was happening in unison with a badly needed correction in the equity markets. Of course, it never, ever happens the way I prefer. jd.

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  12. Bought more SIL, AG, UXG. Some of 'em at 5%+ off. BTFD.

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  13. I bet she will attack tomorrow again (Wednesday ) and then we are off to to +32

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  14. Could be the battle of Waterloo here. I'm watching with cash. Almost made a move but it dropped again. Reminds me of the old days.

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  15. I'm thinking we're gonna see a boatload of shorts covered starting around noon today. We'll see.

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  16. Yeah, how is it that the DOW is up today? WTF!

    I like what Jim Rickards says: "The USA is a hostile business environment." - yet still those "blue-chips" keep on rising.

    It really irritates me to see Blythe Masters doing this to silver and gold.

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  17. Looks like she's piling on the change in USDX

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  18. Wouldnt be surprised if today's action is sponsored by a certain Mr Slim.

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  19. Someone hold my hand. My miners are getting brutalized. I am holding though. I refuse to be bullied. "/

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  20. Time to fight back from tomorrow....

    Buy Gold and Silver physically and buy Futures with FIAT...

    EurUSD down 1bigfgure meanwhile... BundFuture up > 126

    What a day

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  21. Could it have to do with the conservative changes in Congress? i.e., Eliminate Obamacare, deal with debt ceiling in a way as to avoid increasing it. Radical fiscal responsibility by conservative house = potentially strong USD in near future, thus spooking PM positions.

    This may be the biggest threat to PMs that I have seen in a while. Not that I have weak hands-- I'm in to stay. Eventually the USD (as a fiat currency) will reap what it has sown. But there could be a delay in my much-anticipated PM nirvana?

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  22. I have seen virtually every time a government report comes out that has a medium to major impact the price of PM's are sold off beforehand. I believe this is to limit the upward spike.

    The big one is on Friday's Job report

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  23. Harvey said yesterday that the Blythe and friends bought a lot of new shorts right? So they are shorting it out again. They have to hit it hard to get those HFT algorithms churning to a downward trend, so they smack it HARD today. What will happen tomorrow? Look and see if they add a somewhat large number to their silver or gold short positions. I think if they continue to add, then their will be further major attacks. If they stop adding, then I think they will stage minor attacks to keep the price going sideways. Just my two cents worth and I am a newb, so I could be way wrong.

    Non-EE related... Maybe it is because of that disturbing video that Captain was suspended for? Yea, I bet that was it: :)

    http://www.nydailynews.com/news/national/2011/01/04/2011-01-04_uss_enterprise_captain_owen_honors_raunchy_video_results_in_temporary_suspension.html

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  24. Just a follow up, here is what Harvey said verbatim "And now for our commercials, the subject to the many law suits, added a huge 3268 contracts to their shorts. in total defiance of the CFTC."

    http://harveyorgan.blogspot.com/

    It's just crazy that these guys are allowed to get away with this cr@p. So my question is why isn't the CFTC actively doing something about this or are they doing something behind the scenes? Maybe Blythe is stepping on the gas right now to just bring it down as much as they possibly can while they still can?

    Going at lunch to buy some American Silver Eagles.

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  25. Was going to buy some GDX or GDXJ but this whole market scares me. I'm looking at a flat Dow, but stocks I watch like MCD or FDO are down 2%. Nothing makes sense anymore. The whole shebang is going to dump soon and when it does it will take PM's with it, at least for a while. THAT will be your buying opportunity, not today.

    Looking for non EE related explanations? Maybe PM's are just being a leading indicator for a crash of the whole freaking system.

    Hunker down, friends!

    Eric

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  26. The CFTC isn't doing anything about it for the same reason that the Congress isn't doing anything about crimes against humanity in the housing markets.
    And for the same reason that the Democrats and Republicans (except for one old man) have abdicated their constitutional responsibility to be the sole arbiters of US spending.
    Because they have all been captured by the alien slime-beings who control the Anglosphere fiat money universe.

    The United States of America ceased functioning as a democracy in August of 2008.

    Fed delenda est.

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  27. You guys seeing those "spikes" down below $29.00 during the last 10 minutes. Good luck trading this crap:

    http://www.finviz.com/futures_charts.ashx?t=SI&p=m5

    Crooked bastards! jd

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  28. You guys are always looking for reasons or news, or a bogeyman to blame. Just look at the effin' charts! The daily silver chart clearly showed that silver was overbought - a big tell was when it closed above the upper Bollinger band on December 29, with W%R screaming overbought the same day. I would not be surprised to see silver pull back to just under 29 before resuming its upward trend.

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  29. Carlos Slim wants his silver cheap, pulling strings from the Rubin days. Ain't nothin', BFD.

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  30. Well.... at least my Avalon Rare Metals is up 20% today; and it's up 81% in the past 8 trading days. But I don't like that 6%+ drop in Silver Wheaton.

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  31. Ol' man Butler predicted this taking down by reading at the COT report. We'll just have to wait and see how well the tech funds hold up against the raid. Those BOS @ LME should be happy now.

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  32. LOL, well I guess we can toss the Mon/Tue "up" bias into the 2010 bin. Obviously "whoever" is not shy about "shorts" on the COT data. jd.

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  33. It is amazing. What a takedown! For those of us holding out for $2,000 gold and $100 silver, just adds a few days time to our eventual victory. This reminds me of one of my favorite old time movies, Forbidden Planet. Doctor Morbius is in his laboratory and his subconscious is dreaming up monsters, fed by the Krell unlimited power unit. Well the Evil Empire is feeding unlimited short contracts into the paper futures market right now (and probably shorting GLD and SLV as well). This will work fine until the physical shortage problem comes home to roost. Silver is a lot closer to this than gold, as we know. Keep buying the physical, one coin at a time if we have to. Until the stockpiles are exhausted, the US Mint admits it can't source enough silver to meet demand, etc. COMEX will either default or stop trading as they won't be able to supply the silver to those standing for delivery.

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  34. My crystal ball says we saw the highs for the year (2011) on stocks and bonds yesterday. PM's will dump first, then rally for new highs later in the year. But then, my crystal ball has a crack in it!
    Eric

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  35. RoCoach: I have to agree with Turd here. You cannot use technical analysis when the market is manipulated by crooks.

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  36. Competitors are “scared shitless of us,” said Blythe Masters, who is based in New York and joined the bank in 1991 after internships that began in 1987. “They’d better be, because this is a platform that’s going to win.”

    With infinite paper dollars to short the paper price - of course they will win. But I want to see THE METAL they claim they have!

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  37. @Jack: I understand what you're saying, but the technicals are still holding up. Silver clearly remains in an uptrend, but is short-term over-bought. There have been reasons underlying every markets moves, some good, most crooked. Technical analysis allows you to ignore the manipulations and to trade based on price and volume action. Of course, it's not for everyone - we all have our preferred way of looking at the markets. At the end of the day, if not sooner, let's hope we all make money out of the inevitable rise in PMs and the unfortunate destruction of the US Dollar and the American way of life.

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  38. Turning my monitors off. Heading out for a walk.

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  39. In a bull market, the sharpest moves are ALWAYS to the downside (Peter Schiff).

    $100 silver? You're thinking way too low. When it finally corrects, many will sell at $100. And regret it.

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  40. The faster the price tide goes out, the larger and faster the price tsunami that will come in. I expect a rapid price increase. Feel sorry for those who are abandoning ship.

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  41. @Jack & @RManJ,

    That was the hand holding I needed. Thank You.

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  42. God, I wish I had some money to buy today! Gotta save to pay Uncle Sam next week.

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  43. Is the raid to get Carlos his entry point, or to set the table for QE3 while the Fed is meeting, or both? Either way, just temporary, right?

    Fundos unchanged, and more printing inevitable.

    However, when stocks come down to earth, they're bound to take PMs with them, for a little while. I'd like to dodge that if possible.

    Marketwatch just ran this bulletin headline:

    http://www.marketwatch.com/story/january-correction-already-underway-2011-01-04

    Is this just a blip, or is the debt ceiling issue freaking out the market?

    X

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  44. ohhh, nice dip.. oh look a buy button *click*.

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