"The Decade of EPIC Begins"
First!Anyway...the metals are starting to come down just in time to start the NY trading session. I mean, what fucking joke. Right in front us!
Err, maybe I am completely brain dead by now but as far as I see this, today's meeting won't do anything to or against silver. It's just a public meeting and the topic today is (according to the CFTC website and press release which can be seen here: http://www.cftc.gov/PressRoom/PressReleases/pr6015-11.html"Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants"So I don't see how the mumbling there could possibly have any affect on Silver today.
Blythe put your back into it! We need more shorts! I got no silver anymore to sell at this point. Crash silver!
1 EUR buys 1.45 $USD, whoohoo... it's been since Dec 2009
Any idea what time the pantomime starts (CFTC meeting)?
UK - same question here. Can't find out what time that meeting is.
2:30 pm UK time (so an hour and a half ago).
Thanks Adam... s'funny, I could see the 5-minute charts literally 'pause' while this happens...
And she's down. I'm kind of beginning to think that the govt will spend any amount of money necessar until the end of QE2 in june to keep the price of PMs down.
WooHoo, Silver is on sale! BTD, Fool!
BTFD. Silver will probably consolidate into a range right now between $39.50 - $41.00 for a week. Plus, the MACD just made a bearish crossover. Nothing goes parabolic forever. This is a healthy thing.
I agree silver probably will consolidate, however this weeks consolidation is based on nothing but naked shorts from the ice queen, and horse shit news stories. It looks like they left silver alone for a few days to let it grow so when they attacked it would fall further and induce more panic. Smoke and mirrors. I think the next major event we need to identify is probably what bullshit does Bernanke intend to spew on April 27 and how will this affect the markets?
So is the CFTC meeting a secret? Why no article, press release or info coming out yet?
Man, we have one good week in the PM's and then we incur the wrath of the Gods. What a joke! It's like they're saying, "How dare you filthy peasants challenge US!!"Remember when Monty Burns would say, "Smithers, release the hounds."Now it's Dimon and Bernanke saying, "Blythe, release the shorts."
So, is this good news?http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201104121122dowjonesdjonline000197&title=cftc-proposes-rule-exempting-commercial-end-users-from-margin-on-swapsIt says margin will be required for financial institutions, but not commercial end users. JP Morgue is a financial institution, right?
Not sure if you saw this POS options trader forcing the paper down on a 100K options. If this isn't manipulation nothing is! And this shit is legal, to come out and blatantly say I have $Millions to force a small sliver market down? We should pool our money for a contract too!Silver Options Bears Boost Bets on Metal’s Drop for Second Day: http://www.bloomberg.com/news/2011-04-12/silver-options-bears-boost-bets-on-metal-s-drop-for-second-day.html?cmpid=yhoo
@Hot Rod: It's not a secret at all, it was a public meeting (I watched parts f it online).But - as said before: The meeting had a completely different topic. Position limits weren't touched. And I think they never will.
PS: Here is the coverage: http://www.cftc.gov/PressRoom/Events/opaevent_cftcdoddfrank041211.html
I think these Fed fuckers are trying to engineer a commodities collapse to make way to QE3.Allowing silver to run to 42 was to build up energy to induce a downside cascading panic...Will they be successful??
You nailed it Carl. My thought is that we'll have lots of volatility this week, a slight climb next week, and than Bernanke announces there will be no QE3 the following week and tries to shake out all the longs. Of course... there will be a QE3, by necessity, probably very shortly after QE2 ends.
@carl - I was thinking the opposite. Keep silver/gold down until June. They probably won't continue QE3 immediately which should be negative for the PMs - although I'm sure they'll eventually announce again. Now Fukushima/Japan is a complete wild card.
The market would not tolerate a direct statement from Ben saying no QE3. Won't happen when there's a possibility they may actually do it.
This is a "controlled descent" of the US DOLLAR: It's going to be a short term bump for GOLD and SILVER. Are you scared? The News UNITSilver $65US by July. Do I sound like Jim Sinclair? Had fun this last weekend chasing tornadoes....video coming soon.....