If the first three days of this week are any indication, the HFT algo day trading bots are literally the only traders left in the silver futures market. We understand we’re in the dog-days of summer, the Olympics just ended, but my goodness, has NO-ONE added a single long term long or short in silver this week?
Check out Kitco’s price chart for Monday, Tuesday, and Wednesday’s price action in silver.
Monday’s price action is the light blue (Aug 13), Tuesday’s is the red line (Aug 15) and Wednesday’s is the green line (Aug 15).
Notice how despite ranging intra-day from $28.20 to $27.48, and big moves (2 raids and 1 pop) precisely on the COMEX open each day, price has converged to exactly $27.83 at the Globex close every single day this week?
Last week Jeffery Christian of the CPM group was begging for an example of manipulation in the silver markets.
While we already obliged Mr. Christian with enough evidence to make GATA proud, this week’s Globex close price action in silver is either the most blatantly obvious case of cartel manipulation and control that can be witnessed in a market, or else there is literally not a single speculator or hedger remaining in the silver futures market.
There can be no other valid conclusions. If silver had merely closed consecutive days at the exact same price we could chalk it up to coincidence. Three consecutive days with massive raids or smashes occurring precisely upon the COMEX open, followed by 3 consecutive IDENTICAL GLOBEX closes of $27.83 cannot possibly be a c0incidence.
Of course the CFTC may require 4 years of analysis to reach a conclusion on the matter.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
I noticed that too! I saw it as an omen, silver is now ready to move up??????? Seems that way so far today, we’ll see in a week or so.
Hi ho silver…..away!
I agree, Can we call them manipulators when only computers are at the helm?
Even the computers are too stupid to change the Globex trading finale by a few cents
Or perhaps the programmers at JP are such morons, they haven’t figured out inserting a random code sequence to create a varied final price each day.
I agree with your comment, sp.
The whole thing smacks of amateurism.
Apparently, they didn’t go through all the wizards in the setup prior to deploying the latest silver algos. Or, as you suggest, just rank morons. LOL
Good thing the FBI isn’t investigating.
The evidence is hiding in plain sight.
It’s just a little too obvious. They should let it move around a few cents to look respectable.
Then again, maybe showing everyone the power is the real motive.
“Forget silver, pal. It’s manipulated and a bad investment.”
Ah! Just saw this article after posting my $27.83 thread on the forum. Good! Glad someone else noticed
Well, when the only player left in Monopoly is the guy with all the money and property, it’s a good time to be a farmer. Yeah, I was thinking. When they get all the money from the people, then they’ll turn on each other. That’s why Timmy has to fly to China once a year, to ensure them they will be the last to lose their money. Hence Chinese companies pulling there stock off the US market to avoid the coming collapse. Thus, the FED buying up the bonds the Chinese hold. And throw in the mad rush of Chinese companies trying to buy mines.
P.S. Don’t forget the “Buy at 8 and sell at 11″ during last weeks trading.
Like I say. It’s lawlessness now. They’re acting like – By the time they catch me, it will be all over, and I’ll have gotten away. Those people have foreign bank accounts and “vacation” homes in other countries, waiting for them.
I just mentioned this yesterday. How Silver appears to have flatlined for the first three days. Aloha and Good Morning. Just woke up to a +.34 cent rise in silver.. We will see what happens.
Up 42 cents right now. It will probably be down 42 cents by 5 PM. It’s All computers trading. Same thing is happening in stocks. No one is left in the markets. Brother John F had a video about this a couple weeks ago. It seems all these computers have been swapping pennies all day and at 5 pm the loser is the slowest one. Or They are just so arrogant that they are flipping everyone the bird! See here, we can do anything we want!
Hey, Doc- maybe your posting caused a removal of the foot for a few minutes to prove you wrong!
That’s ok, I’ll take it wherever I can get it..
The Chinese look as these jackasses and continue to buy their annual supply of 120,000,000 ounces of silver. India buys the same amount. They sell nothing to the open market, retaining every ounce. The cost to extract silver is equal to or greater than the market price. Sprott is still waiting for his last 1,200,000 ounces of silver to fill his registration. The August shortage may take a little longer but I would not bet against a price rise. When Europe folds its tent the fear factor of capital flight will rush to more than crappy equities and 1.8% treasuries, or worse, negative yield German, Swiss or Belgium bonds. COMEX sees million ounce withdrawals. All is good, nothing to see here. Let’s turn over the HFT algos to Knight. They could screw the price pooch in 24 hours. Fat finger delights for all
Hopefully no one accuses me of having an agenda here, but to say that no one is hedging (shorting) silver in the futures market other than HFT is just wrong. Dealers that hold a significant inventory, like APMEX, always use futures to protect themselves from volatility, making money on premiums, not price movements. For every physical ounce they have in inventory, they have an ounce shorted on the COMEX. http://www.goldshark.com/reference-section/item/85-how-do-gold-dealers-make-money.html
I’m convinced of the manipulation as much as anyone but we have better arguments…… like two 35% percent drops in a matter of days in the same year…….. without any supply increase or demand decrease. That doesn’t happen with a world commodity…..like the timing of the increase in margin requirements……like the concentrated short position of JP Morgan…….like Greenspan admitting that gold is manipulated.
Hey, I don’t know how anyone didn’t notice the blatant numerology here I signed up just to make this comment.. and I am not into numerology at all but this ones too blatant:
2+7=9
8+3 =11
Coincidence that every day of the week the final closing number was 9/11?
Hmmm, here we are at Asian Market opening, 9/9/12, @ $34.00 (or slightly under) and the run up was begun just about after this odd 3-day event… Relatively “Free Trading” and since TeflonDon noted the 9/11 numerology, I suspect the next major happening will be in 2 days, on 9/11, if this means anything. I also wonder if they are just screwing with our heads, or signalling that it’s OVER. (manipulations?) Either way, we make a LOT of money on 9/11 or we have another huge BUY-IN Party starting 9/11
Your guess is as good as mine, Folks!