After the initial raid on Bernanke’s opening comments at 10am EST, gold and silver have gone vertical, with silver clearing $29, and gold bursting through $1600 to $1610.
Perhaps the Goldman Muppet bottom indicator was spot-on again?
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Gold & Silver Go Vertical
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The viagra / cialis apparently kicked in to counteract the morning case of whiskey dick that came about when the honorable helicopter ben started talking.
That is funny. I had the exact same thought Canadian
Is this manipulation or can that only occur on the way down???
I’m clear about the mechanics of price suppression, it involves selling naked contracts or selling a position without regard to profit / mitigating loss.
Can you explain to me how a spike like that is manipulation in reverse, I’d like to understand it.
I have typically in this market considered gaps up like that as violent market corrections in response to irrational manipulation to the down side.
traders can make money on market moves in either direction, especially the HFT ones.
“Can you explain to me how a spike like that is manipulation in reverse, I’d like to understand it.”
I’m not sure that a spike like this is manipulation. It looks a lot more to me like a response to manipulation rather than manipulation itself. By this, I mean that once the manipulation has occurred and the price has been smashed down via the dumping of huge amounts of paper silver (or gold), buyers with BIG money,most likely from Asia, tend to swoop in and buy cheap phyzz in huge quantities. This pushes the current spot price higher as dealers scramble to meet the short-term demand. I’d like to know what others think of this and whether or not my comments here make sense. They do to me but additional points of view are good to consider.
I told Keith McCullough via tweet to buy silver last week when he was mocking gold bugs and uberbullish on equities. He didn’t listen to me. Now he’s bitching about Bernanke today. If you really hate Bernanke, buy physical silver and liquidate your gold shorts, dumb ass. What a moron.
Many people who do not own gold or silver find it very easy to mock those of us who do. PFFT!, says I. I care not a whit for their mocking. When one is certain that they are on the correct path, what matters what those who are not on the correct path think?
Is this the beginning of another spike, or just a bear trap?
Either way, I am feeling okay about those 36 Morgan Dollars that I picked up last week at $22.13/ea.
As well you should, Mammoth. That was some astute buying, IMHO. Well done.
I don’t worry about these so called parabolic/waterfall moves. March 27 is still a few weeks away. I am very curious to see if Jim Sinclair really has dependable contacts or if he is just making Guru/guesses about this latest raid being the last before the crooks go long.
Senator Elisabeth Warden.. Hitting Bernanke hard. 83 Bilion Dollars worth of insurance these TBTF Banks Receive in a year..
Bernanke looks pissed. Senator Elisabeth Warden ate his ass up…
I bought with all the money I have last night. Felt bummed wakin gup to lower prices. Now, feeling pretty good about myself, and my stack. Over 2% in EUR since I woke up. I can’t make that much money in a few hours unless I start “dating” middle aged women.
Lol… stick with the silver, XCS. It may not be as rewarding in the short term but it will be MUCH better for you in the long term.
I loved the question about naming systemic risk inducing companies. Ben couldn’t answer because he is on the payroll of one of those companies, JP Morgan.
Hell I just came on line and missed all the FUN, First there was Whining then the Excitement. Lol
Well I’ll just Keep Stacking anyway because I’m more concerned about what’s down the road when all this crap collapses. Keep Stacking.
Did you get some new phyzz last weekend, Charlie? You said that you would IF you got some fiat. SDers far and wide want to know! ;-)
I can’t believe the resiliency of the US dollar. Current spot from silvergoldbull in canadian dollars
silver: 30.28
gold: 1664.69
Canadian Dirtlump: I totally agree , the $CDN at .973 makes no sense. We are not debasing our CDN dollar by endless money printing as is happening in the US.
The $CDN should be trading at more, not less. It would be interesting to see what factors impact the dollar ratio……I know that the economists will talk plenty of confusing bullshit…. but I bet this is fixed in closed-door meetings by the money masters.
@Canadian Dirtlump, the $USD is still the least-ugliest girl in the room, as far as the Euro, British Pound, and $USD goes.
Yes, it is. But the Canadian and Aussie dollars should be stronger than the US dollar, not weaker… unless something else is going on that is affecting them.
Dear silver and gold boys!
Mr. Sinclair is gentleman and veteran of traiding. Better belive him. Please read a little more. History is just start to repead.
So fuckin..do not panic. Gold at 35000 is conservative. Oil sheiks will start their computers, gold banks also in long…
I am fuckin..g nervous, becouse is such a panic in forums. No emotion please.
All the best,
- Domen
Europe, Slovenia
For Canadians, in indeed their currency is printed less drastically…could they benefit from holding CDN cash? Or will it remain basically pegged to the USD through any mad max scenario?
Give Doc credit. Prescribing those new Day of Resistance rounds available mid March is better than a dose of Cialis.
I made my first silver buy in almost a year. And yes, coins like that give me wood (metaphorically speaking)
. I’m smiling. My wife’s smiling. SD Bullion’s smiling.
Look at the chart. The Spot buy price was $29,15 yesterday. If that spike isn’t a bit of precious metal Viagra i don’t know what it. Just be careful. If wood lasts more than 4 hours, go see the Doc to fix it, like the commercial says.
“If wood lasts more than 4 hours, go see the Doc to fix it, like the commercial says.”
Screw that! If wood lasts more than 4 hours, I’m calling my agent. I sense a movie career here. LOL!
….the managed paper chase roller coaster, harvesting the money on the way up and the way down. Why do we bother getting worked about the reverse waterfalls?
Pump for a Thursday dump…
Goldman subliminal messages playing on CNBC all day and night, even during commercials: “MMUUSSTT SELL GOLD! MUST SELL GOLD! DOLLARS ARE GOOD AS GOLD! DOLLARS ARE GOOD AS GOLD! SILVER ISN’T MONEY! SILVER ISN’T MONEY! THE MARKETS ARE BOOMING! THE MARKETS ARE BOOMING!”
In other thoughts, can’t believe people actually thought selling gold in the 1500s was prudent. I’m mean, seriously, I can understand if you didn’t want to buy at $1800-1900, because if you have any smarts you already bought well before that price, but trading gold for dollars at the bottom of the trend channel? LMAO.
“But Georgie Soros sold his gold”, they whined, “so it MUST be the thing to do!”. It was a nice buying opportunity is what it was and I bought my first gold ever. If it gets whacked again, I will double down and buy another 5 ozs. :-)