We warned readers this morning to expect a mini-raid between 10am and 11am EST. Our expectations have just been confirmed, only a larger raid than expected has materialized, as the cartel just knocked silver .70 lower in a mater of seconds in a vertical elevator shaft move. -
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STACK THE SMACK!!!
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That was some sick volume.. Lets see a full retrace!
It would be nice to see the replay in slow motion, but what’s the point, the referees refuse to review the play anyhow!
Look at the chart from 12am to 8am, was that a battle of super computers? The defenders were winning until NY opened and then POW! How much did it cost JP Morgan (via The Fed via The Treasury via the tax payer) to knock Ag down 23 cents? I predict a comeback by 3 PM!
Do we have any HF traders out there who can explain the mechanics of a raid? How much does it cost JPM in dollars and physical metal? Or can they do it by just hitting every bid and pulling the offer a nanosecond later and save their money and metal?
Is it just me or are these raids (if they are indeed Cartel raids) becoming less effective of late? From what I can see, this morning’s raid only knocked gold down about three bucks and silver about 30 cents. IRRC, we saw much more severe price drops in raids past. I wonder if this loss in effect is due to tighter supply or a change in MO, that is, the Cartel’s is merely keeping the PMs rangebound.
It looks more like a generalized “risk-off” sell off and PM’s went along for the ride. Euro, crude, markets are all down. I can’t wait until gold & silver start trading on their own merits.
WOW! Just awoke and here it is. Hopefully some of your billionaires and countries of interest will come back this morning and give us some assistance over these corrupt fools.
The major point we have to keep in mind is that these forces cannot create additional silver and gold to keep up with the true demand. It is going to be a battle but the winner is going to be the one who has physical possession in the end. That is the beauty of owning physical metal. Unlike the greenbacks that can be printed 24 x 7, nobody is printing real bullion. So just make sure you don’t buy any fake coins.
The game is really up when the masses, after losing their wealth in a market crash, turn to SLV and GLS for possession of their shiny and find out that it isn’t there. Yep, even some serious wealthy people will be greatly disappointed in how that game plays out. If you don’t hold it, you don’t own it as you all have said a thousand times. Just hang on and hopefully we will get through this in one piece. Take care.
@UglyDog My research taught me that JPM simply places a very fast sell order of a large amount via the computer and then that jumpstarts all the other machines to act as programmed. JPM, quickly using the speed of light computer, then cancels that original order and sits back and watches everyone else scramble according to the algos. This is the most real form of a train robbery ever invented by man. Now I’m sure there is some heavy duty computer things happening that I am stating in a very basic level but it gets the point across. They have the manipulation and algos down to a science of evil.
Individual investors cannot move faster than the machines and that is why we will always be scammed all day long. Thus the reason simply to buy the real thing from an honest supplier. Never go near a machine to play the trading game.
allinagau ?
so it costs JPM nothing in $$$ to raid the metals it is a freebe for them ??
What ever the case may be ……Stack the smack, I did.I will stack again next pay day regardless of weather we are at $26, $28 $33 or $40.
Once your eyes are open they cannot be shut again.
Keep stacking boys take away their power.
@Da yooper This is just one article I have read on the subject. As you can see by the title this is happening at the speed of light and is very scary. They are making the market move at will and no human has a chance. These buy, sell, cancel orders are happening so fast it isn’t funny. This is what is going to make the market crash. Many firms don’t have the equipment or software to manage this new type of wheeling and dealing. The machines have taken over.
http://www.zerohedge.com/news/chicago-new-york-and-back-85-milliseconds
Caught on tape ! Cool
Amazing what can be done with computers these days. A waste of bandwidth imo. This will be testing to the upper side of HFT soon
The HFT algos move closer and closer to the trading centers so even the speed of light is overcome by the proximity the sources of the trades. Knight Securities found out how dangerous it is to be that close and allow their defective software programs to trade $440,000,000 of losses in a an hour or so. Being on the wrong side of the trade is a professional skill gone wrong. But being on the other side of foolish trading that smashed Knight proved to be very profitable.
Thusly, I am sure JPM has the system wired to make money no matter which way the trades go. If they can initiate it and then trade against the other silver machines they make millions. Recall earlier in the year when 500-600,000,000 ounces of silver were trading in the space of a couple of hours. The entire world output of silver was traded in barely a day. It’s rumored that JPM made $500 million being at the right place when they started this trading race to the bottom. They appear to continue these actions and strip mine the smaller traders, commercials and raptors, as Butler calls them. They always seem to be on the wrong side of the trade as JPM makes billions off these wrong headed trades.
There isa sort of justice to this as more and more retail traders take their funds off the table. $130 billion in retails funds have been withdrawn YOY with about $5 billion in the last month alone. These traders are like the city filled withnothing but dry cleaners. Everyone looks very busy as they fill their machines but in the end all they end up doing is taking in each others wash.
But here is the good part. For the last 18 months since the huge smackdown from $48 to $42 to $36 an ounce, the stackers have been able to buy up an increasingly scare metal for decent and dropping prices. This site and others have pioneered the means to spot these raids and capitalize on them by taking the physical side and holding it. The raids have ebbed and flowed for the last year and a half but most notably these HFT driven price changes have proven to be less and less effective. What was once a $4 drop in price in now 40 cents or less. What was once a huge pot hole is now just a speed bump. The quick rebound in price nearly eliminates the manufactured price reduction. That action has now become quite predictable and even tradable if you are buying on the dips.
My one question is whether Dimon knows he has become so predictable and irrelevant to us stackers?
@AGXIIK great thoughts and comments. Absolutely agree that major drops are getting to be more like speed bumps. I believe the good Lord is trying to teach me the virture of patience because he knows I was born with a minimal amount. It just troubles me so much how we let our society slip and fall so hard. One little accommadation here and one there and pretty soon we’re putting up with so much bs that we start wondering how we got here. Then looking the other way and not holding people responsible for balancing budgets, crazy borrowing and debt tolerance. Add to that all the brilliant minds spending their time to figure out how they can make the world a better place for just them rather than putting their ideas to the good of all people.
It really is a frightful picture of events that are coming our way and I don’t think anything can stop it at this point. There is no man or woman with the insight to stop this financial meltdown that has been in the works for decades. All of these schemes have destroyed the middle class of a culture that defined America and made her strong. Now we are simply trying to survive a financial armageddon that nobody could imagine.
Thanks for the comments as they are some consolation that we are adapting and finding ways to minimize the madness.
It is now 3pm and the longs coudln’t muster a comback! Guess I’m done predicting,
As irritating as the raids are, they do accomplish something of major benefit to the long-term standing of the silver bull: crushing of sentiment! If we go up a few bucks here and there and endure a raid, only to repeat over and over, that’s actually a beautiful thing because anytime sentiment would get “too” bullish on a short-term basis the raids push out the weak hand traders and only make the long-term sustainability of the bull market all the more strong.
Remember last week how I was talking about how the cartel likes to attack when the advance begins to level off, and when the advance reaches sentiment of around 80 or higher on the RSI? We’ll, that was the set-up going into this week. I had thought we’d get a buck higher than just testing $32 before a big raid. But so it goes. The backdrop of a lack of conviction by some in the hedge fund community going into this week’s Jackson Hole confab made it all the easier for the cartel to attack as well.
Oh I was hoping that there’s a big raid so that silver would hit 27$ per ounce just like before. Anyway, I wasn’t able to see the raid so it really doesn’t matter for me.