Britney's Piers Posted May 1, 2011 Report Share Posted May 1, 2011 whats going on? http://www.kitco.com/charts/livesilver.html Quote Link to post Share on other sites
nohpc Posted May 1, 2011 Report Share Posted May 1, 2011 whats going on? http://www.kitco.com/charts/livesilver.html Well it's doubled very quickly so a correction is due Quote Link to post Share on other sites
fallingbuzzard Posted May 1, 2011 Report Share Posted May 1, 2011 It found its support level! so who cares? Well it's doubled very quickly so a correction is due Quote Link to post Share on other sites
Executive Sadman Posted May 1, 2011 Report Share Posted May 1, 2011 Didnt Eric Cantona say buy silver to bankrupt JP Morgan? 1. Is there any evidence JP morgan is vigorously shorting silver? 2. Why isnt JP morgan bankrupt yet 3. How high does it have to go before theyre bankrupt 4. Why should i trust cantona? Denninger spoke a little on Silver recently, saying it has all the traits of a parabolic bubble, going up 100% in the time the dollar has declined 10% or so. Silver probably will be 'worth' more in 12months time IMO. Quote Link to post Share on other sites
Habeas Domus Posted May 1, 2011 Report Share Posted May 1, 2011 obvs. all the royals have just taken all their silver tiaras back down the pawn shop Quote Link to post Share on other sites
fallingbuzzard Posted May 1, 2011 Report Share Posted May 1, 2011 I would imagine that they should be vigorously managing their exposure but might just be letting the bet run Didnt Eric Cantona say buy silver to bankrupt JP Morgan? 1. Is there any evidence JP morgan is vigorously shorting silver? 2. Why isnt JP morgan bankrupt yet 3. How high does it have to go before theyre bankrupt 4. Why should i trust cantona? Denninger spoke a little on Silver recently, saying it has all the traits of a parabolic bubble, going up 100% in the time the dollar has declined 10% or so. Silver probably will be 'worth' more in 12months time IMO. Quote Link to post Share on other sites
Dr Doom Posted May 1, 2011 Report Share Posted May 1, 2011 Options Expiry Time ? I've no idea if this is actually the case, but if you believe in the JP Morgan Giant Short Position Conspiracy Theories, these ******* will push the price down just as before their short contracts roll-over, minimising their own losses, then I assume let the price rise again, and take on new short positions. Quote Link to post Share on other sites
neil324 Posted May 1, 2011 Report Share Posted May 1, 2011 Im sure it will bounce back in no time. Quote Link to post Share on other sites
Executive Sadman Posted May 1, 2011 Report Share Posted May 1, 2011 I would imagine that they should be vigorously managing their exposure but might just be letting the bet run Do they have to disclose their positions? Why dont they buy lots of it, then let the speculators do the rest? All they need do is ask Bernank for a few billion. Quote Link to post Share on other sites
Ruffneck Posted May 1, 2011 Report Share Posted May 1, 2011 looks like someone sold a massive amount of silver or paper silver it will be back up to 50 within a couple of weeks so who cares? good buying opportunity Quote Link to post Share on other sites
Dr Doom Posted May 2, 2011 Report Share Posted May 2, 2011 Do they have to disclose their positions? Why dont they buy lots of it, then let the speculators do the rest? All they need do is ask Bernank for a few billion. I'm pretty sure there's data somewhere on JP Morgan's & HSBC's massive concentrated short position, it came out in CFTC hearings that these two entities were short something like over half the outstanding paper contracts. Or ~10 years mine supply. Why don't they buy lots of it? Because they don't want the price to go up. They have unlimited finances, and can make the paper market go up and down at will probably, but probably time movements to stop out as many longs as possible, demoralising those trading the paper silver markets. What they don't really control however is the physical silver market, if enough people get wind that silver should rightly be at $500+/oz and buy it and hold onto it, there won't be enough silver. Quote Link to post Share on other sites
MongerOfDoom Posted May 2, 2011 Report Share Posted May 2, 2011 whats going on? http://www.kitco.com...livesilver.html Have the talking heads that purport to offer commentary on the markets taught you nothing? It's obviously profit taking! Quote Link to post Share on other sites
The Masked Tulip Posted May 2, 2011 Report Share Posted May 2, 2011 Bin Laden's mates flogging their physical stuff. Quote Link to post Share on other sites
crash2006 Posted May 2, 2011 Report Share Posted May 2, 2011 (edited) Bin Laden's mates flogging their physical stuff. Out to buy more on tuesday, thinking it'll hit $80 by the end of summer.Oh btw Bin is dead, confirmed. Edited May 2, 2011 by crash2006 Quote Link to post Share on other sites
Tiger Woods? Posted May 2, 2011 Report Share Posted May 2, 2011 (edited) Out to buy more on tuesday, thinking it'll hit $80 by the end of summer.Oh btw Bin is dead, confirmed. Given the time of day, the fact it is a bank holiday in London, it looks to me like a big player manipulating the market unless the reported death of Osama Bin Laden is the cause, but the reports I have seen were a few hours after the drop in silver (if I am reading the charts correctly silver dropped at 18:00 ET, but the first reports I saw about Bin Laden were time stamped 22:30ish ET)...then again, some special people get the news sooner than others. There will be a lot of stops hit on Tuesday morning, so expect the price to collapse further. Notice that gold has suffered as well, but not before a spike just as silver plummetted. Someone big selling silver and buying gold? But why would you do it in a thin market all at once...which brings one back to manipulation...or the news....or one covering for the other. Edited May 2, 2011 by Tiger Woods? Quote Link to post Share on other sites
The Masked Tulip Posted May 2, 2011 Report Share Posted May 2, 2011 Given the time of day, the fact it is a bank holiday in London, it looks to me like a big player manipulating the market unless the reported death of Osama Bin Laden is the cause, but the reports I have seen were a few hours after the drop in silver (if I am reading the charts correctly silver dropped at 18:00 ET, but the first reports I saw about Bin Laden were time stamped 22:30ish ET)...then again, some special people get the news sooner than others. There will be a lot of stops hit on Tuesday morning, so expect the price to collapse further. Notice that gold has suffered as well, but not before a spike just as silver plummetted. Someone big selling silver and buying gold? But why would you do it in a thin market all at once...which brings one back to manipulation...or the news....or one covering for the other. I am sure those in the know knew long before you and I - whether they were in New York, Islamabad or Riyadh. Quote Link to post Share on other sites
The Eagle Posted May 2, 2011 Report Share Posted May 2, 2011 obvs. all the royals have just taken all their silver tiaras back down the pawn shop LOL, you made my day! Quote Link to post Share on other sites
Tiger Woods? Posted May 2, 2011 Report Share Posted May 2, 2011 I am sure those in the know knew long before you and I - whether they were in New York, Islamabad or Riyadh. The order was given on Friday apparently. So, I'm sure JP Morgan new about it over the weekend... Quote Link to post Share on other sites
Saving For a Space Ship Posted May 2, 2011 Report Share Posted May 2, 2011 obvs. all the royals have just taken all their silver tiaras back down the pawn shop That wedding has to be paid for... Quote Link to post Share on other sites
Ruffneck Posted May 2, 2011 Report Share Posted May 2, 2011 did it drop on news bin laden is dead? seems unlikely but some australian sites are spinning that as the reason the AUD declined vs USD Quote Link to post Share on other sites
The Eagle Posted May 2, 2011 Report Share Posted May 2, 2011 That wedding has to be paid for... Not really, the taxpayer is paying for the wedding. Quote Link to post Share on other sites
Tiger Woods? Posted May 2, 2011 Report Share Posted May 2, 2011 did it drop on news bin laden is dead? seems unlikely but some australian sites are spinning that as the reason the AUD declined vs USD No. It happened some time before it was announced publicly. I suspect OBL is a coincidence - this was a planned take down on thin volumes on the Labour day weekend when most markets are shut. Quote Link to post Share on other sites
tahoma Posted May 2, 2011 Report Share Posted May 2, 2011 Oh, right. So PM price dropping=thread not moved within 0.003 milliseconds. Got it. Quote Link to post Share on other sites
MrFlibble Posted May 2, 2011 Report Share Posted May 2, 2011 whats going on? http://www.kitco.com/charts/livesilver.html The empire strikes back... Screw them... I'm buying more as their crooked paper smells funny... Quote Link to post Share on other sites
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