The night before options expiration, and as predictable, more cartel manipulation. Any surprise silver was near $18 at the close, but down $0.30 overnight.
The "late night jack", is a go to play, in the manipulation playbook. Gold needs to be kept under $1200 at all cost and silver under $18.
Gold is the real battleground. Lots of $1200 options will expire worthless, and make lots of rich people mad. Normally, they would be expected to bid gold up to $1200 today, and they will try hard. The Cartel will push back with all they have.
When the options expiration day comes, when the catrel looses this battle, that will signal the beginning of the end of the Cartel, and the end of the COMEX. We are probably a year or two away from this day, but it would be great to see it today.
Remember, as with Madoff, redemptions destroy Ponzi schemems. A major loss at options expiration for the Cartel would signal the damn is broken, and the tide is now rushing in. It will happen eventually, it's only a matter of time.
That's too bad. Ponzi Schemems is a great guy. We went to pie baking school together. A very charismatic, likable guy. I wouldn't trust him with my lunch money, though. So I guess it's no surprise that he's going to be destroyed. But I always hoped he would find redemption rather than be destroyed by it.