![Live New York Silver Chart [ Kitco Inc. ]](http://www.kitco.com/images/live/nysilver.gif)
Absolutely classic smash in silver, as the 2nd wave of the pre-FOMC statement take-down has driven silver under strong support at $30 to $29.87.
If silver cannot regain $30 and hold above it through today’s close, we are looking at a retest of $28-$28.50.
An absolutely massive volume spike on spot silver’s volume chart as 9,000 contracts were dumped in 10 minutes to induce the spike low to $29.87.
9,000 contracts (45 million ounces) were dumped on the market in 10 minutes from 12:20 to 12:30 pm inducing the spike low to $29.87:
![[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)
This has become ridiculous. It is a continuous program of wild eyed dumping, it illustrates just how screwed these banks really are. Or maybe they found a silver asteroid in their back yard
STACK THE SMACK–You got Phyzz??
Finally back on line. Thanks DOC. Just spent my dry powder. Bummer. I’ll just add it to the cost average.
Starting at 1pm EST some major buying started with the precious metals shares. Take a look at stocks like Silver Wheaton and First Majestic. This action shows there remains some deep pocket smart money that’s active and bargain hunting right now. Action in the equities have a better ability to show us what longer-term money is doing vs. the COMEX day trading hamsters.
Interesting stuff, folks… All things considered, it actually looks like the cartel had a hard time today. They took silver down, but for a variety of reasons I talked about in a previous posts (click here), it appears they didn’t get much bang for their buck.
The lesson learned here is that when Bernanke says there’s no QE then its already underway We won’t let the BRICs send $200 billion to the IMF without piling on. The BRIC demands extracted from the IMF and the recipients of this begging bowl bailout will be draconian. China and Russia will do nothing for the Western Hegemon without getting something back. Gold, preferential trading rights, commodities and control within the power structure of these countries will be the least demanded from the Euro failures. We will come forth with money, trillions, to counter this. I called Bernanke and told him I needed silver to be at $30.50 as well. winner winner chicken dinner
It’s an odd number day … No QE….. Silver tanks…. I was able to add a few oz to the stack….
Tomorrow will be an even day… No QE… Silver will spike…. Just like a Van Halen reunion… Hahaha… Odd day off… Even day on…. LoL
Isnt it amazing that the Quota wants the oil markets investigated for price manipulation & at the same time IGNORE’S the manipulation in Gold & Silver markets
I still don’t see it staying below $30.00 at the end of the day and in fact it’s starting to go back up with our QE3 money being dumped in. Playing with fire you get burnt and paper burns faster. Keep Stacking.
I have been watching this for the week. Being that I am in the South Pacific and the time, I wake up in the morning. I already know when, I see Silver down .97 cents. They are dumping that bullish*t paper into the markets. They are getting desperate! Russia apparently closed down their stock market indefinitely (unknown). Although last week Friday Lauren Lyster (RT News/ Capital Account) she would not be on air on Monday due to upgrades in software? Who knows. The fact that Silver has bounced back up after going below $30.00 an ounce? This shows Jim Sinclair is and has been on the money. It’s like a coil being held too long and it will break out! I will be stacking in an hour or so.
Well now, silver started the day at about $30.78 and it’s now about $30.72 after falling below $30.00. So much for the smack down whether it was real of manufactured. LOL.
That little can they used to kick has become a 2 ton boulder, Like James Turk just told Lauren.
Enjoy the stubbed toe, boyz.
Stacked some Buffalo rounds at $31.80 Cdn, right on the rebound from below $30 spot.
Too bad my powder was mostly spent already, or I’d have stacked more.
I’ll keep buying all the way down to wherever those crackers want to drive it. My cost
average keeps getting better all the way.
Well less than 12 hour since the dump and spot is the same as before they did it. No change maybe there just trying to hold it below $31.00
Climbing back to that lovely $31.69 and a new shiny round.