*Update: Make that the totally normal silver dump, pump, and dump, as no sooner was this piece published than the cartel drove silver down nearly a dollar to $32.10!
Almost every day this week gold and silver have seen unusual price action dubbed by ZH the Totally Normal 2% Silver Dump & Pump.
The totally normal chart pattern just occurred again early in Thursday COMEX trading:
Tuesday’s 2% Dump & Pump:
Chart courtesy Bloomberg & Zerohedge
Today’s identical dump and pump:
%
Those who have identified what is likely the current cartel manipulation pattern and BTFD (Stack the Smack) have made a killing this week as every large silver dump has been met with a vertical gain.
Either China has massive buy orders in place and is literally buying every available ounce on every raid, or else cartel algos are attempting to gun longs stops, and immediately gun the new shorts stops, fleecing both spec longs and shorts in the span of 10 minutes.
*Update:
And the subsequent dump, & pump deja vu back to back as silver is slammed nearly $1 down to $32.10, and is now going vertical again:
Must. Keep. Silver. Under. $32.50!
![[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)
.50 drop in 5 minutes. This is legal. Yep.
These people with their ill-gotten gains probably never heard of karma. They will eventually get more than they bargained the Devil for.
It is much more than karma. It is the law of sowing and reaping. This law never fails.
One can only hope, Crissy… and good on ‘em too!
Yes, Karma is the Eastern religion’s way of teaching about sowing and reaping. It is like dropping small stones into a quiet pond in many locations, some all at once and others randomly. All produce ripples that radiate out, many affecting and being affected by other ripples. Life… the connected web throughout the universe. :-)
They will sure get the taste of karma especially when they are manipulating one of nature’s resource’s value. The question is what would be their consequence? At least a lot of buyers are profiting from these low silver price which is a one in a lifetime opportunity.
Yet! The CTFC can’t see the manipulation. These people sell their ill gotten souls to the devil. All the precious metals are diving today, including the dollar. Bogus..
I just sent the blonde haired fool the netdania 10 minute ag and au screengrabs from my phone of todays criminality and asked him if he can see it
@I save silver He is not allowed to see it. lol
Thanks for the heads up on then routine dump and pump.
perfectly normal trading pattern based on Silver and Gold market specific fundamentals as well as the US & Global underlying macro-economic fundamentals….
oh yeah, and in conjunction with the largest increase in unemployment claims over the last 2 years….
FU@K YOU BEN BERNANKE……….
The first budget cut they should consider is the disbandment of the willfully blind and captivated CFTC.
$308 million a year, for what? Bart’s bleach bottle and tanning booth bills?
Looks like I should be waiting for the market to open, and placing an order, then laughing as the cartel f*ckjob candle is immediately reversed..
If this keep’s up blythe’s hair will be the color of bart chilton’s in no time.
BUTTBHOF. that’s German for Back Up The Truck, Buy Hand Over Fist.
Thanks for clarifying that, AG. At first, I thought that it was some weird sexual perversion aspect of “pump and dump”. X-p
Silver is trading VERY strong today relative to the rest of the market and especially gold and oil and (gasp, the carnage) precious metals stocks. For the time being, the tight physical market has made it too costly to have the paper games risk more massive off-take out of thin COMEX/LME silver warehouse supply. The cartel certainly would like to see silver lower, but at least as far as today’s battle is concerned, conditions make it too painful. This silver trading action will hopefully prove to be the leading indicator that we’ve bottomed for the whole sector. Time will tell. But today’s trading just goes to show that price management by the powers that be and tight supply in the face of reasonably large investment demand makes much more impact vs. considerations of silver’s role as a base metal. What with the standard equity market and risk assets getting whacked today across the board and even gold taking it in the teeth, one would normally expect silver to be trading down at least two times more than gold on a precentage basis. Sorry Blythe. No dice. In fact, silver trading on days like today impart critical information about the true lack of depth to the selling pressure.
Trading in the PM sector going into the US election through today has been met with some of the most agressive price management efforts I’ve ever seen.
Agreed, silver used to be magnified on the price drops relative to gold, but lately it’s holding up a lot stronger compared to gold. That in itself is unusual, and it’s likely due to the tightness in physical supply. The relentless purchasing of physical silver by the common person, even in small quantities, day in and day out, is adding up to be a major impact on the market fundamentals for silver. All it takes is for more people to take that first step in buying and holding silver.
“The journey of a thousand miles begins with a single step.”
–Lao Tzu (Chinese philosopher)
Also, recall that David Morgan came out and said recently that he does not see silver going down below $30 again. And here’s more major news regarding Asia’s demand for physical precious metals (as featured on GATA):
Hong Kong Gold and Silver Exchange seeks warehouse in China
By Polly Yam
Reuters
Tuesday, November 13, 2012
@Plebian: You’re right in pointing out the general trend of relative outperformance. But today’s divergence is an order of magnitude larger and more significant than even the general trend. It’s big enough to represent a signal to both the momentum trader and long-term investor camps. It’s the sort of signal that very often is associated with a major floor and recharge to the upside.
Silver is way more manipulated than gold which is why silver has been taken down more than two times. But, it is gaining a lot more than gold in terms of percentage gains compare to their prices. I’m waiting for more dramatic actions in the gold and silver’s markets since the US election is over.
We will keep seeing this pattern until the US dollar or the euro tanks, that will be the signal for the markets to go vertical. CFTC will never announce anything and position limits will never be enforced because it is keeping the price of the dollar afloat.
Ed B I think that there is a lot of pumping and dumping going on in any case. In the great big wide world of muppets, it’s pretty clear that we are viewed as financial sex toys to the boyz at Goldman Sucks.
In my mind, if you think your getting pumped; pump back. Let them see how it feels.
The best way to do that is clear out your accounts, remove all your funds from the brokerages and let them know , up close, personal and in their face, as loud as possible without getting arrested, you know exactly what they are doing and what you think of them.
If possible, throw in a few references to their family origins, sex practices, and relationships with small animals. If you prefer to leave out the critters, then use references to power tools, cheap lumber or car parts. Or household appliances.
Maybe countries, big private buyers such as Eric Sprott or banks are buying silver and the cartel lowered silver’s price so that these buyers could afford to buy more silver cheaply, easily and faster. I see in the future where physical silver will be in huge shortage.
we need a Silver tongue lobbyist with a Golden touch and balls,of lead…imo
we need to to really,organize the PYHZZ silver/gold owners of America NOW,while we still can..imo