*Update: Big move has materialized exactly at 10am, but the cartel initiated a waterfall decline rather than a vertical spike as occurred Tuesday.
Gold smashed under $1760, and silver under $34 to $33.99!!
Gold and silver again broke higher on today’s COMEX open, and appear to be trading in Tuesday’s HFT algo footprint.
As this appears to be the case, is an .80 vertical move imminent at 10am EST? Look for a move higher in both metals at 10am if this HFT algo remains in control.
Silver is looking ready to make a serious challenge at the $35 level. We have stated repeatedly that once silver decisively clears $35 it should quickly move to $37-$37.50. While it is slightly overbought on the short term and we could see a correction to the $33-$33.50 level, silver can often remain overbought for extended periods during strong bull runs.
Gold also is trading in it’s HFT algo footprint from Tuesday:
Gold should soon challenge the $1800 level, and once $1800 is cleared, will quickly run back to the all-time nominal highs near $1915.
![[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)
Wow. a waterfall drop in silver just a moment ago. Big guns are working once again. Naked short-selling is simply a counterfeit thus a crime. It should be banned.
This graph looks like it needs some Viagra or something to get it up right.
Not very impressed with this analysis:/ I see a waterfall drop in everything on the horizon… if we fail to hold S & P 1434 it is going to be U-G-L-Y and the likelihood is about 90%….. Silver and gold will have to follow.. Not to mention that when silver and gold start their run the margins will be raised. We already know the remedy for hi silver prices…. We just have to face that there is no such thing as free markets any more…
Oh yes, don’t forget that silver follows oil and oil tanked hard… I expect a heavy tanking of silver any time now maybe back to the $30 level before we start back north again.
Wow – a record bounce back to $34.45. Somebody just lost some money again…
Silver just paddled back up the waterfall real quick-like.
I just checked the silver price I just I was really late to see the smack down Now we are back above the morning price. What a weird world we live in
…its such an upper. I walk into my PM store, and the store owner looks up, see’s me, and immediately grumbles: “sonofabitch, silver’s gotta be down”. It just makes my frick’n day!
It is harder for the cartels to drive silver’s price lower right now because they can only remove 0.50$ off of silver for only a few hours. Now silver went up and it is at about 34.65$ per ounce!
The cartel attacks are losing effectiveness, everyone buys at the dip and drives the price right back up.
Yes, their ability to manipulate the prices of PMs and make those depressed prices stick is disappearing. With each smack down, it takes more paper to create less of a drop in price that doesn’t last as long. These idiots are at the mercy of diminishing returns and BIG money from Asia that is loading up when prices are pushed down, even a little bit. Dang! It’s just so freakin’ hard to get a good water-fall price drop these days that is worth doing! lol Good on ‘em!
The “Short Mon-Wed / Long Thu-Fri” trade would have given a truly INCREDIBLE profit over the last 1-2 months!
Also… the Hong Kong open POP has been very consistent.
That naked short sale the other day really bothered me. I am sick of HFT’s in the market place, but who are we to contact to ever get them out. I thik they are rooted in the trade game for good. Us small investors are just at their mercy. Short if you want, but naked shorts should be out right illegal! Its pure market manipulation. If Bart Chilton wont do anything, Ill go march right up to his office and speak my mind and show him all of the Ted Butler research, and ask hi clearly- How can you say there is no manipulation in play. Its ridiculous. Ona positive note, we hit $35 today, its coming back down, but that was nice to see!
A) Bart Chilton didn’t say there’s no manipulation in play
B) You should still go talk to him
C) My “intuition” say Gensler is the dirty one
Wow and just literally 2 minutes after my opst we got a .70 cent smack down. THIS iS RIDICULOUS!