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Topic: Over 23000 silver future contracts dumped (Read 278 times) previous topic - next topic

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Over 23000 silver future contracts dumped
Over 23000 silver future contracts dumped into the market just after Europe closed.  Two Billion dollars notional......

Re: Over 23000 silver future contracts dumped
Reply #1
That was what was needed to break silver.

Re: Over 23000 silver future contracts dumped
Reply #2
And I think they softened people's resolve first with a hit on the miners.  Know what we are up against.

  • edthelorax
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Re: Over 23000 silver future contracts dumped
Reply #3
I am glad you said it and put it so well.
Who has 2 bil. to throw around like that? Even cumulative, it would seem that the seller could be determined to be the trigger. Their motivation is obviously in question, I wish I could invest in there not being an investigation.
Knowing it is manipulated leaves us in a precarious position. 
It is impossible to tell if this is the top before a 2008 like event, or a staged manipulative shake-out, like BTC and the "China crackdown" that wasn't.
 I am definitely leaning toward  this being more like 2002 or 2004 than 2008.
There is the Bush_Trump dow 20k comparison, several references to the MA's during 02 TF.
Looking at EXK i have to compare it to SSRI and PAAS from the 02-04 era and they would lose about 50% off of the high, breaking or touching the .618 fib before bottoming which is about 3.08/
If  this doesn't hold how low can it go?  Well it went to 1 last Jan.
Hope for the best, plan for the worst.


For Entertainment Purposes Only.

Re: Over 23000 silver future contracts dumped
Reply #4
Capital is fleeing countries like China, the EU is falling apart, India's gold demand picked back up in February (to 50 tons for the month), and we now have an arbitrage thanks to physical exchanges for the precious metals.  Physical demand worldwide should put a floor under precious metals.  Or you could put your money in the S&P500, which is probably as overvalued as it has ever been.  This should be fun.  Keep the faith.

Re: Over 23000 silver future contracts dumped
Reply #5
Capital is fleeing countries like China, the EU is falling apart, India's gold demand picked back up in February (to 50 tons for the month), and we now have an arbitrage thanks to physical exchanges for the precious metals.  Physical demand worldwide should put a floor under precious metals.  Or you could put your money in the S&P500, which is probably as overvalued as it has ever been.  This should be fun.  Keep the faith.

It looks like silver was targeted and gold followed in yesterday's price manipulation. On another board I follow, a gentleman has been predicting a serious correction in PM's he communicates via a chart on GDX targeting a price in the upper teens in March. He may prove correct as the price is only a couple bucks away. For the charting enthusiasts, I have a question; did any of your charting suggest the silver price action yesterday? The reason I ask is my understanding of TA is to analyze the past action of investors and traders collectively and make future predictions based on the same group's past behavior. Yesterday, it appears that a single trader or small coordinated consortium entered the market in an abnormal manner changing the composition of the group. If my premise is true, then under yesterday's conditions, a correct prediction would only occur by chance as the group being analyzed changed.
Now the question is whether or not the new investing group is going to be consistent or will it revert to pre yesterday or some other composition. Knowing that could assist interpreting the trend lines and chart patterns and might lead to foretelling gold's potential for abnormal trading pattern in the near term.
Personally, I believe DJS has a logical thought process reverting back to fundamentals in this situation. Ultimately market manipulation will run its course and normalcy of supply and demand price discovery will once again prevail. Question of course is timing and we often look to TA to assist answering that question, but if a premise of TA is violated by the changing group, TA becomes unreliable.
One thing we can count on, the naked shorts at some time must be covered. If the covering comes as a short squeeze, well, oh what a glorious days that will be!

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: Over 23000 silver future contracts dumped
Reply #6
One issue is that those that do this type of manipulation do not care about a couple mil loss on the trade. They are doing it to keep us out, keep the PM's down in defense of their multi billion dollar other positions.
This is about the world economy, the 1% owning 50% of that, and their unwillingness to share any of it.
For Entertainment Purposes Only.

Re: Over 23000 silver future contracts dumped
Reply #7
Could this have been part of the reason for the drop yesterday?

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: Over 23000 silver future contracts dumped
Reply #8
The selling was the cause for certain, the reason is the question.
I believe it was to cause margin call selling in the miners.
Did anyone notice the linear move in silver for the past 2 months? as if someone were buying everything they could at a line going up.
You could buy stocks at the same time, and sell it all at once creating a top.
You know that there is a price to create the self fulfilling prophecy.
You sell as much as you can at above your cost average.
You then take all that profit and put it into where ever you can fit it, it won;t go all into silver so you buy real wealth, good miners with dividends, gold, some more silver etc.
It may not be one entity but RICO comes to mind next.
I hope some investor or group demands an investigation, not that anything would come of it, they all are colluding to keep the pyramid scheme intact. Honestly i hope they can i just wish they would leave PS's alone, they are so greedy they not only want everything, they do not want you to have any either.
Sad.
For Entertainment Purposes Only.