The Doc had to step out of the office for a few hours this morning and what does he see when he returns?
An .80 vertical silver raid in 2 TICKS!
Surely this is just another example of natural market forces withdrawing all bids from the market momentarily and allowing silver it’ daily free-fall of $1.
The game will go on and the bullion banks will continue capping and raiding precious metals until one day the whole thing detonates in their faces.
That day is coming.
![Live 24 hours silver chart [ Kitco Inc. ]](http://www.kitco.com/images/live/silver.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
compensation for being lazy the last few days…
50% retracement dough
Keep stackin.
Well who knows silver could be this price for another year.. but its unlikely
Thanks JPMorgue for more cheap physical silver, well played.
There is a reason why the acronym for Price of Silver is POS.
Let’s look at the factors that can swing the proce of Silver out of the control of the manipulators:
- War in the Middle East
- Full-blown financial panic
- Global Manufacturing slams on the brakes
- Stock Market Crash
- <Your comment here>
This market is definitely not for the faint of heart.
cheap silver rules
*yawn* SSDD
- Nationalization of mines
- Environmental / production issues (degrading ore quality)
- Increasing investment demand in physical (Sprot, SD readers, and the new Chinese exchange come to mind)
- Greece leaves E.U.
- Greece doesn’t leave E.U.
- QE may be in their control, but the backlash is always bullish for silver.
I’m sure there’s a ton more.
On Sale…..again!!
Whatever….
Ok….
While I agree that this game will, at some point come to an end….I always hear people say “one day it will blow up on them” (like you have stated in your post here)…..but, no one ever goes on to describe, just how this may go down.
The whole concept of “short selling” silver is foreign to me….if I understand it right, in order for someone to take a short position, someone has to be on the other side of that…..correct? And when you say “9000 contracts were dumped” on the comex in 1 minute – what are you saying - that someone actually already had 9000 – 5000oz contracts that they owned…and sold them at the current market price of $28.50?
Sorry if these questions are stupid - but if someone REALLY KNOWS how this things works…and could type out a basic scenario ….both of how the manipulation is played out…..and, a possible scenario of how the thing could / may blow up on them in the future…I would be forever indebted.
I hear people throw these terms around all the time…and talk all the time about how the silver and gold markets are manipulated - but I NEVER hear anyone explain just how (in a way that makes sense to a person who has never bought / sold / traded options….(I am a small silver and gold / coin dealer here n MN…and I only own physical metal – the whole concept of selling something you don’t have, and never intend to even purchase kind of makes my head spin – it is fucking nonsense actually)
I’ll be waiting for someone….anyone to make some sense out of, and explain the mechanics behind a raid like today (it is obivous it was coordinated…but HOW)
Always on the open. Makin me wake up early. WTF
Shock and Aweful,
As near as I can tell, the majors have dumped 9000 contracts (45 million ounces) on the market to lower the price and then start buying long positions at the lows knowing that they will leave the market alone for awhile and silver bug pressure will force the price back up. In doing this they trigger sell stops of the investors that are not part of the club and force margin calls which will cause a number of them to just lose their positions (and whatever their initial margin was).
Phyzz, mo bettah.
Shock and Aweful,
It’s kinda like if I break into your store one night and steal your silver and then the next morning you come in and see you have no silver and then I come in later in the day and sell your silver back to you at more than it was worth the day before, and you feel good because you got a good price and you see the spot is going up again. Then I do it again (and again, again, etc.).
Won’t you ever learn?
But who is doing the selling? Is it large investment banks? Hedge Funds?
And, is there an unlimited amount of contracts that can be bought?
Are these “contracts” supposed to represent ACTUAL metal?
My next question would be then….why don’t a bunch of people get together….buy about 10 mllion ounces worth of silver on the comex…and DEMAND delivery….and not settle for any other price?
Wouldn’t they be forced to deliver or go bust? I would think that if they could not delivery the actual metal, the game is over. And, knowing this, why doesn’t some billionaire – like Eric Sprott get together with a couple other guys and do this? The fortune that could be made by those holding the longs could be massive as price could be 100x what it is now (assuming there is 100x more paper contracts than actual metal)
Or…am I missing something here?
I know the Hunt Brothers did something like this back in the late 70′s and had the full fury of the SEC come down on them…is this reason why no one wants to expose the game? Because of fear of governmental reribution? Seems to me that the silver market is small enough that a couple billion dollars would EASILY flip this thing on it’s head.
The Banks that are selling are looking for cash funds to pay of their debts. LMAO