"It's just paper, that is why countries like China and India are loading up on gold."
If you saw my portfolio you'd know I'm in no position to argue with that statement. I'm going to need Florence Nightingale before the day is over.
My point, and I do have one, is that attributing dark, menacing motives to Central Bankers and governments, is unnecessary. They're just doing what comes naturally. They print colored paper as a response to every one of life's troubles. They don't even have to think about it. It's the first impulse. No need to aim...just pull the trigger. This is why I own gold and silver in these times of trouble...I think...? If that's "protect(ing) the value of their currencies..." it's an odd way to go about it.
Manipulation? Just traders following a trend. As i've said before ....better be hedged. We should see $17.50 by Sat.
REMEMBER - CHART MONKEYS ARE IN CONTROL!!!
slv/slw relationship got to extremes. Almost always goes back to parity. SLW was/is a proxy for silver, hot money loves us.
Silver just slced thru it's 50 dma like it was butter.Next stop $17/#16. Silver can go down $1 a day...has in the past.
Gold to $1150/1100.
I'm long SLW - hedged...sold some calls and hold puts.
News, one thing I will say is I have had enough of the "over spot" pricing in the retail. I mean, they get to buy it at those spot prices, and because they can, they unite and all charge a like premium. It all sucks any way we slice up this garbage. Thanks for your posts. I do usually take the time to hear what you have to say...
Yeah, one of the oddest things is that the whistleblower Maguire was involved in a hit-and-run and the police caught the driver, but:
"The police told us the assailant was known to them and even that they arrested him," Maguire said. "But recently the police won't say anything, and I haven't been able to learn anything about the assailant."
That's pretty odd, isn't it?
Someone explain how this enormous short position won't eventually blow up in JPM's face. The pressure for silver to go up is enormous and trying to keep it down with additional short positions can't possibly hold forever. What will they do when the price starts to rise too much? Cover and generate massive losses?
"Someone explain how this enormous short position won't eventually blow up in JPM's face."
Yea...someone do that. Oh...and while you're at it please explain why J.D. would sign the financials under pain of imprisonment in a post Sarbanes-Oxley world, knowing that they are fraudulent? Where are the auditors? They are in on it also? Of course...what could possibly happen to them besides bankruptcy and prison. It's all so silly but all the little guys get to spout off about things they know nothing about and get instant reinforcement from an army of internet midgets who likewise are clueless. For a moment they are in the know. In amongst the powerful speaking truth to power. What a pathetic joke.
When the price rises too much, they generate more and more paper, which dilutes demand. Eventually as holders sell due to the falling price, they start covering.
It's a lot like pushing a snowball down a hill, then hoping on for the ride.
Since I can do nothing to control or limit this manipulation, I have chosen to profit from it as best I can. I will continue to trade these price swings as long as this manipulation persists. This manipulation has forced me to become a swing trader, selling into the strength, and buying into the weakness. SS
I don't know how the rest of you feel, but I am very frustrated by this repetitive manipulation of silver. Fortunately I have some buying power at this time which is not always the case. So I'll be picking up some SLW tomorrow on the cheap. I wish that I could just buy and hold SLW, but these wild price swings make that impossible. I refuse to just sit back and ride these prices up and back down. If I had the guts I'd trade the options for higher trading returns. I'll just have to settle for about a 25% trading profit once I sell SLW following it's return back to the price that it was a week ago. SS
With love, but I disagree. It is the metal dealers pushing the futures lower, by selling profits. The bank positions are hedged and fixed, future contracted and that has not changed. It is the metal dealers shaking fear so that they can buy inventory lower. Economics has little to do with it. Just a game, not the DOW, EURO. Web sites will soon be writing articles to buy, saying such things as citizens of Europe are buying silver and gold.
I wouldn't be surprised if the guy in the car that hit Murph was a Jack Bauer clone from our own wonderful black ops, since the JPM positioning for specie downdrafts is bought for and brought to you by the Fed under the guise of protecting the fiat dollar.
I talked to a Fed employee who just rec'd a security briefing in which Arab terrorists were blamed for the insidious plot to abandon fiat paper and use gold and silver instead. When he wondered if Jefferson and the writers of the Constitution were considered Arab terrorists he was asked to stay after class. True story.
Let's be careful out there. Another tragic day in the market started by the real estate bubble bought and not paid for by Dems who don't think you need financial means to own a home, and republicans plundering that stupidity while busying themselves bombing camel jockeys out of existence to divert the masses from the plundering of America, and a gullible world.