BREAKING Cartel Dumps 225 Mill Oz of Paper Silver Over 30 Minutes, Gold/Silver Raided

[General of Darkness]

These muther fuckers.

Wednesday, February 29, 2012

Cartel Dumps 225 Million Ounces of Paper Silver Over 30 Minutes As Gold, Silver Raided


http://www.kitco.com/images/live/silver.gif (http://charts.kitco.com/KitcoCharts/index.jsp?Symbol=SILVER&Currency=USD&multiCurrency=true&langId=EN&utm_source=kitco&utm_medium=banner&utm_content=20110407_iCharts_silver_chart&utm_campaign=iCharts)*UPDATED with TD Ameritrade Volume
We reported a few minutes ago on the gold & silver raid in progress. The cartel raids have now smashed gold over $82 from $1788 to $1706, and silver close to $4 (10%!!) from $37.62 to $33.68. Also notice the classic mini-parabolic moves to the upside immediately prior to the raid- absolutely CLASSIC CARTEL ACTION!
The raid began at exactly at 10:00am EST coinciding with the Fed's release of its monetary policy statement to the House Financial Services Committee.
For those who claim these immediate waterfall gap-downs in both metals were as a result of Bernanke's dissapointment in no further QE, please realize this occurred exactly as the full report was released, and note the massive paper volume of 225 MILLION OUNCES OF PAPER SILVER OVER 30 MINUTES used to smash gold by $65 and silver by $2!:

NetDania, while a spot chart- obtains their volumes from futures volumes, and displays the smash visibly the best. BrotherJohnF (http://www.brotherjohnf.com/uncategorized/silver-cartel-dumps-225-million-ounces-in-30-minutes/) just published a NetDania screen shot demonstrating a volume of over 20,000 contracts, or 225 MILLION OUNCES of paper silver sold over 30 minutes.


http://www.brotherjohnf.com/wp-content/uploads/2012/02/silver2291211-1024x553.jpg

Lest you think this is merely another 'data glitch' by NetDania, here is the action and volume from TD Ameritrade:

http://2.bp.blogspot.com/-K84UiRSrvd8/T05uRm6y2iI/AAAAAAAAAXw/kh33wyi9KIk/s400/Blog1.png (http://silverdoctors.blogspot.com/2012/02/cartel-dumps-225-million-ounces-of.html)
Source (http://scottpluschau.blogspot.com/2012/02/silver-gets-blown-out.html)

As mentioned above, notice the mini-parabolic up-move in silver immediately prior to massive raid to draw in new suckers (longs) to add firepower to the smash as they are forced to puke their positions moments later as stop-losses are taken out.
http://www.kitco.com/images/live/silver.gif (http://charts.kitco.com/KitcoCharts/index.jsp?Symbol=SILVER&Currency=USD&multiCurrency=true&langId=EN&utm_source=kitco&utm_medium=banner&utm_content=20110407_iCharts_silver_chart&utm_campaign=iCharts)

And in gold:
http://www.kitco.com/images/live/gold.gif (http://charts.kitco.com/KitcoCharts/index.jsp?Symbol=GOLD&Currency=USD&multiCurrency=true&langId=EN&utm_source=kitco&utm_medium=banner&utm_content=20110407_iCharts_gold_chart&utm_campaign=iCharts)

Now we know why the cartel stepped back and allowed gold and silver to run higher through significant resistance points over the past 3 days- they have been waiting to coincide their smash with the release of the Fed's policy statement, in a weak attempt to use the Fed statement as cover for their massive raid and paper manipulation of the gold and silver market.

[SLV^GLD]

So who benefited?

I'm feeling like I did so I am confused here.

[osoab]

You got a link to that story G.o.D.?

[General of Darkness]

You got a link to that story G.o.D.?


Here you go.

http://silverdoctors.com/

[gunDriller]

how much paper gold did they 'sell' ?

[mick silver]

not one oz of gold but a hell of alot of paper

[horseshoe3]

So who benefited?

I'm feeling like I did so I am confused here.

If they can drive it down a few more dollars, I'll benefit. I've got a standing order with my dealer that the next time it goes below 30, set aside 100 oz for me.

[Sparky]

So now the price of silver is the same as it was a week ago, but the cartel controls 225 million fewer shares? I like the sound of that.

[mamboni]

So now the price of silver is the same as it was a week ago, but the cartel controls 225 million fewer shares? I like the sound of that.

Yep, the bastards have made a weak counteroffensive but are still losing the war. If only the American people would wake the hell up and buy silver and gold. Unfortunately, TPTB have succeeded in trapping the vast majority of folk in wage slavery where thye are financially behind the curve and just able to pay for necessities - no money left to buy silver let alone gold. Very sad!

[MAGNES]

Here you go.

http://silverdoctors.com/

Your post is a duplicate.
http://gold-silver.us/forum/showthread.php?59249-I-d-just-like-to-say-it-s-nice-to-see-silver-holding-past-33.&p=520830&viewfull=1#post520830

So my response is a duplicate.
http://gold-silver.us/forum/showthread.php?59249-I-d-just-like-to-say-it-s-nice-to-see-silver-holding-past-33.&p=520892&viewfull=1#post520892

Relevant Charts here.
http://gold-silver.us/forum/showthread.php?59249-I-d-just-like-to-say-it-s-nice-to-see-silver-holding-past-33.&p=520582&viewfull=1#post520582

That blogspot is overdone.

$ 2 isn't smashing anything, this area is volatile, the blogspot fails to
show you this, and fails overall because it is analyzing SI on it's own,
Reminds me of Strawboss too, a very shady character. Reminds me
of other blogs over the years, Large Sarge and I were even debating
last summer.

I have had a consistent message on this for years.

SI is following GC, GC was dumped, that is how they get it started, GC was on major resistance, at 1800, just as SI was sitting right on major resistance and it popped, major buy stops and sell stops are being triggered at this area, SI 34-36, traders are being swung in and out of trades, 20 K contracts is nothing for this area, you have a resistance line formed, it is also a right shoulder, it is also sitting on 200SMA, 200EMA, you have that MA flattening, etc, other technical signals. All in this tight area. And the chart still looks strong. When they dropped GC in a big way SI went through this area, and came off strong on 34 resistance. It held up great, or appears to have, the Shorts went long, lol .

When they dump they don't even have to sell, just stop taking orders
for a bit, sell a bit, give it a push, hit sell stops, etc, they will pump USD
maybe.

Having said all of the above they do destroy SI with major short sells,
that is how they make money too, but I highly doubt what happened
today effected the COT in any significant way.

I strongly encourage everyone to look at the charts yourselves.
http://gold-silver.us/forum/showthread.php?59249-I-d-just-like-to-say-it-s-nice-to-see-silver-holding-past-33.&p=520582&viewfull=1#post520582
I gave some good links to charts I have been using for years.
Everything I am talking about, last two posts, you can see it yourself,
it's easy.

You can analyze SI, but it is very important to do it relative to GC.
GC is doing the major moves. My posts here complement that blogspot
sans the sensationalism or cheer leading.

And the tops of this market, where I document and give a link above,
they were dumping 1 billion oz to 1.5 billion oz daily and trading in
that level daily, and regularly, eve since SI broke previous high of 22.
This was a huge anomaly to the regular volumes of maybe 30K on 90K OI,
which itself is high turn over anyways. Its a crazy market.
They just turning paper burn and take everyones money.

Cartel Dumps 1 Billion Oz Daily. ;D
Capping Silver, Massive Volume Price Drops (http://gold-silver.us/forum/showthread.php?48305-Capping-Silver-Massive-Volume-Price-Drops)

If SI gets dumped past $34 , wake me up, that is the number to watch.

The biggest thing that happened today was the right inverse shoulder
on GC getting broken.

LIVE CHARTS
SI
http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801)
GC
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801
(http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801)
SAVED CHARTS
http://i43.tinypic.com/2qmmeea.png

http://i39.tinypic.com/10clwme.png

[MAGNES]

Here is another one of their articles, it's way overdone, sensational title,
their buzz words are totally bogus here. " dumps " " raids "

" Cartel Dumps 102.5 Million Ounces of Paper Silver in 7 Minutes, Yet RAID FAILS! "

20 K contracts traded and changed hands, at key stops, that is not a raid nor dump.
Price moves in bid ask range right on 200 SMA, $0.25 , that's nothing.
http://gold-silver.us/forum/showthread.php?59180-Cartel-Dumps-102.5-Million-Ounces-of-Paper-Silver-in-7-Minutes-Yet-RAID-FAILS!&p=520914&viewfull=1#post520914 (http://gold-silver.us/forum/showthread.php?59180-Cartel-Dumps-102.5-Million-Ounces-of-Paper-Silver-in-7-Minutes-Yet-RAID-FAILS%21&p=520914&viewfull=1#post520914)

In addition to my above points and charts.

Another live and changing SI chart.
200 EMA , 200 SMA, both flatten, SMA at ~ 35.
http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p88093255212 (http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p88093255212)

Another live and changing SI chart.
50 and 100 SMA turn up, candle tail sitting on 20, that matters for day traders.
http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p58379237748 (http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p58379237748)

Live GC chart.
GC sitting on 50, 100, both turned up.
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p58379237748

Live COT chart.
Notice lows of DEC 2011 Epirey, coincide with COT, shorts and OI,
this is what it was like historically, but not last year, between 26 to 34
shorts the weight on SI to keep it down. So historically similar
action would mean they have to go sub this level to make money.
But don't count on that, look at the volumes they are pulling off.
They can change the levels.
http://snalaska.net/cot/current/charts/SI.png

Again, SI $ 34 is the most important number to hold.

The right inverse shoulder on GC being attacked like that
is the most significant part of the day. $1750 - 1720 being
conclusively broken. That is the real raid.

GC needs to come back fast, watch GC.


EDIT ADD,

GC is much uglier now after hours, live Chart,
$34 may get reamed same way they reamed GC, that took effort.
http://www.kitco.com/images/live/gold.gif (http://www.kitco.com/images/live/gold.gif)


http://www.kitco.com/charts/livesilver.html#ny

[Sparky]

Yep, the bastards have made a weak counteroffensive but are still losing the war. If only the American people would wake the hell up and buy silver and gold. Unfortunately, TPTB have succeeded in trapping the vast majority of folk in wage slavery where thye are financially behind the curve and just able to pay for necessities - no money left to buy silver let alone gold. Very sad!

I dunno. Monthly Eagle sales are now exceeding annual sales from the late 1990s, and this with prices up six-fold. And silver sales have endured frightening drops from $20 to $8, and from $48 to $26. And during a recession, no less, and while competing with money diverted toward record sales of guns and ammo. I say that's all pretty impressive! I think we are both confident that this latest smack down will yet again ultimately be met with more demand and higher prices.

[MAGNES]

Again, SI $ 34 is the most important number to hold.

The right inverse shoulder on GC being attacked like that
is the most significant part of the day. $1750 - 1720 being
conclusively broken. That is the real raid.

GC needs to come back fast, watch GC.


I'll keep all these posts together.

GC is sitting right on the 200 SMA this early morning.
Edit add, the 50 and 100 have been broken, see chart link above.

They totally ruined the gold chart with that major one day drop.

Silver is going to get hammered if GC crashes 200.

SI is sub 34, tick tick ... edit add, as I type, SI bid is sub $ 33.

Gold needs to come off of the 200 fast.

Same link from above, live gold chart.
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801#


http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=1&mn=0&dy=0&i=p42106480801&r=8657

http://i39.tinypic.com/16syhl.gif
http://i40.tinypic.com/2rdf0ap.gif
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801#

[MAGNES]

Bam !

Waterfall !

Instantaneous !


$ 1665 , $ 32.60


EDIT ADD, from my futures account.

Massive volumes, stops have been triggered.

10 AM EST

APR2012 LOW 1663.40 GC 155,000 volume 229,000 OI

MAY2012 LOW 32.57 SI 37,000 volume 61,000 OI

[chad]

good lord, that hurt. wtf?

[Sparky]

Yeah, Magnes, popped below the 200 DMA and now hovering near it. Important technical test here.

[beefsteak]

Chad,
in simplist market parlance, it's called "Distribution."


So, the questions emerge:
who got it/them?
and then...
where's yours and mine?

K.I.S.S., especially in paper events like now.

The games are several levels over my pay grade!


beefsteak

[MAGNES]

Yeah, Magnes, popped below the 200 DMA and now hovering near it. Important technical test here.

Party time ! >:D

http://i41.tinypic.com/6zuc00.gif

[gunDriller]

from Zero Hedge it sounds like Euro banks are doing some more desperation selling.

[MAGNES]

We are back, GC can't climb out above 200 SMA, basing sideways,
few days, this is very weak, keep all my posts here, live charts links
above, an nice engulfing red candle today sub 1640 is next major signal.
A good setup is developing.

From above post,

LIVE CHARTS
SI
http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801)
GC
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801)

http://i43.tinypic.com/23r70p2.gif

[MAGNES]

$ 1640 was broken overnight in London.

SI is sitting on $ 31.00.

http://i39.tinypic.com/72qghu.gif

[chad]

palladium has been taken to the woodshed lately as well.

[MAGNES]

We had a technical bounce to 200 SMA, came off of it hard, we have just
had 3 lower lows, and sitting on lower channel and resistance, which makes
this a key point to watch, see charts above.

http://i44.tinypic.com/292lf7o.gif

[Serpo]

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/3/29_James_Turk_-_Quiet_Gold_Market_Masks_Important_Development.htm l

[FreeEnergy]

So now the price of silver is the same as it was a week ago, but the cartel controls 225 million fewer shares? I like the sound of that.

Nope.

It is Naked Short Selling (http://en.wikipedia.org/wiki/Naked_short_selling). They've got unlimited amounts of that.

As long as they are TPTB and nobody calls on them pulling this out of thin air they can do it forever.

[Serpo]

Nope.

It is Naked Short Selling (http://en.wikipedia.org/wiki/Naked_short_selling). They've got unlimited amounts of that.

As long as they are TPTB and nobody calls on them pulling this out of thin air they can do it forever.

Cept it is appearing more and more obvious to a lot more people.......

[Libertarian_Guard]

Yep, the bastards have made a weak counteroffensive but are still losing the war. If only the American people would wake the hell up and buy silver and gold. Unfortunately, TPTB have succeeded in trapping the vast majority of folk in wage slavery where thye are financially behind the curve and just able to pay for necessities - no money left to buy silver let alone gold. Very sad!

"If only"

Yep, you're right, it ain't going to happen.

[MAGNES]

LIVE CHARTS
SI
http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801)
GC
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801)

Same thing as previous test, topside resistance, dropped hard in thin trading after NY hours.

http://i39.tinypic.com/xephli.gif


Support has been broken, it's April, very unusual, SI sitting at $31.00

http://i41.tinypic.com/dbq0x.gif

[Serpo]

637.5 MILION OUNCES OF PAPER SILVER DUMPED IN 1 HOUR AFTER FED MINUTES RELEASED


This morning we advised that the CME is estimating total volume in silver yesterday of 53,978 (http://www.cmegroup.com/trading/metals/precious/silver_quotes_settlements_futures.html). Marshall Swing has contacted the CME for clarification, and volume estimates ONLY include the pit session which closes between 1:29 and 1:30pm EST, and DOES NOT include access market electronic trading in the afternoon.
Apparently any cartel shenanigans conducted during electronic trading is free game and goes unreported by the regulating agencies.

On the now infamous Ron Paul/ Bernanke silver raid of February 29th, we documented how 225 million ounces of silver were dumped on the market over a span of only 30 minutes (http://silverdoctors.blogspot.com/2012/02/cartel-dumps-225-million-ounces-of.html), smashing silver $4 from $37.62 to $33.68.

In a sign of the diminishing returns of paper market manipulation, on the heels of today's Fed minutes disappointment, beginning at 2pm EST, over 127,000 contracts, or 637.535 MILLION OUNCES OF PAPER SILVER were dumped on the market in only 1 hour, resulting in a massive silver decline of.... $0.65.

You read that correctly.

Nearly 80% of ENTIRE ANNUAL WORLD MINING SUPPLY was dumped on the market (during the thinly traded Globex session), over a single hour, and all the cartel could muster was a lousy .65 decline in the paper price of silver!

Volume from the 24 hour chart indicates that ~45,000 contracts traded in the hour between 2p and 3p yesterday, or roughly only 225 million ounces. We also saw massive volume throughout this afternoon's sell-off:........see link




http://silverdoctors.blogspot.de/2012/04/6375-milion-ounces-of-paper-silver.html

[MAGNES]

637.5 MILION OUNCES OF PAPER SILVER DUMPED IN 1 HOUR AFTER FED MINUTES RELEASED


Major stops were hit and there is major trading volumes.
I am posting charts above at key points related to this.
You would expect major volumes at these points.
The title is bogus as is some of their analysis, see above posts.
Traders are getting whipped in and out of trading positions,
look at the charts I have been posting, on major fault lines
this happens, this is where stops are. They are triggering
10-20 K, OI at the end of the day is close to previous or
same, nothing was dumped, just massive frequency of trading,
we don't know who the traders are, but the game is to burn
everyone, and the MM are left standing, they are the riggers.
This behavior is no doubt criminal and this is how they rig
the market. Any old student of Butler, LeMetro, would know this.
This is why COT and OI is so important. COT in the past was also
good trading chart for signals to follow, but not last 3 years till
this Dec.

I am looking for a super spike setup, my stops are in, SI.
Use their criminality to my benefit. GC target is 1550-1500.
Very high RR if this happens short term. It would be the
third time on the yearly chart very close to peak season.

[Serpo]

Major stops were hit and there is major trading volumes.
I am posting charts above at key points related to this.
You would expect major volumes at these points.
The title is bogus as is some of their analysis, see above posts.
Traders are getting whipped in and out of trading positions,
look at the charts I have been posting, on major fault lines
this happens, this is where stops are. They are triggering
10-20 K, OI at the end of the day is close to previous or
same, nothing was dumped, just massive frequency of trading,
we don't know who the traders are, but the game is to burn
everyone, and the MM are left standing, they are the riggers.
This behavior is no doubt criminal and this is how they rig
the market. Any old student of Butler, LeMetro, would know this.
This is why COT and OI is so important. COT in the past was also
good trading chart for signals to follow, but not last 3 years till
this Dec.

I am looking for a super spike setup, my stops are in, SI.
Use their criminality to my benefit. GC target is 1550-1500.
Very high RR if this happens short term. It would be the
third time on the yearly chart very close to peak season.



Nearly 80% of ENTIRE ANNUAL WORLD MINING SUPPLY was dumped on the market (during the thinly traded Globex session), over a single hour,

[MAGNES]

LIVE CHARTS
SI
http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801)
GC
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801)
Again, they are keeping GC away from 200, hard hits after pops.

SI got hit $1.00 , 32.40 to 31.40, full red engulfing candles, GC and SI, Friday close.

Short term pennants are forming. Since it is April you would not expect any of this
or a further breakdown, but the charts are weak when they are historically at their
highs, this is an anomaly to history, and I can't remember this ever happening.

Saved pic is missing, it just showed GC interday getting hit hard to downside.'
You can still see the full red candle in above chart.
http://i44.tinypic.com/30nj7mv.gif


A comment, referencing this thread.
TPTB determined to silence Norcini On Gold - why? (http://gold-silver.us/forum/showthread.php?60417-TPTB-determined-to-silence-Norcini-On-Gold-why)

[Neuro]

Magnes, seems like silver is in a nice reverse head and shoulder pattern, developing, once it goes above $39 (should be sometime soon), it will zoom! It could have a breakdown below $30 prior to that though... If it goes below 26, it is a different story alltogether... According to the one year chart you posted above.

[MAGNES]

Have a look at the charts, short term pennants have been broken to down side,
and we are back down to the lower range.

GC key to watch here, good chance of a breakdown and spike like previous lows.

This week is also a key expirey month.

GC 1631, low of 1625, SI 30.50 right on low.

Edit add,

SILVER

VOLUMES, end of day NY session.

over 80 K traded on 96 K OI , front months , total OI about 110 K

almost a complete turn over of OI , end of day OI roughly same as previous

major stops were hit here, 400 million OZ traded , CRAZY NUMBERS

http://i41.tinypic.com/25oxf0m.gif

[mamboni]

Again, they are keeping GC away from 200, hard hits after pops.

SI got hit $1.00 , 32.40 to 31.40, full red engulfing candles, GC and SI, Friday close.

Short term pennants are forming. Since it is April you would not expect any of this
or a further breakdown, but the charts are weak when they are historically at their
highs, this is an anomaly to history, and I can't remember this ever happening.

http://i44.tinypic.com/30nj7mv.gif


A comment, referencing this thread.
TPTB determined to silence Norcini On Gold - why? (http://gold-silver.us/forum/showthread.php?60417-TPTB-determined-to-silence-Norcini-On-Gold-why)

It's an historic anomaly because this is not a free market. The metals are being massively suppressed by the FED and it's minions. The equities markets are breaking down and TPTB do not want hedgies and investment managers running to gold. The private investors are out of the market or liquidating. The FED is cornered like a rat. They will have to announce another round of QE soon or risk a repeat of 2008. It will have to be a huge number to motivate the markets. Gold and silver will fly higher.

[Book]

http://graphics8.nytimes.com/images/2011/12/21/nyregion/SUB-jprabbi1/SUB-jprabbi1-popup.jpg
"hokay...vee lower gold to $1600 vorldvide just for the hell of it..."



::) how it really happens. you guys with your technical charts crack me up

[MAGNES]

how it really happens. you guys with your technical charts crack me up

Charts are key and the gold chart is key.

...not that I disagree with what you say about the rigging, the price is whatever they say it is, they paint the charts...

...........

Lessons over, lol . ;D

[Sparky]

Magnes, I think Book just make a little joke. That's all.

[ximmy]

Magnes, I think Book just make a little joke. That's all.

Book: I was just foolin about. Magnes: I wasn't :p;)
http://mybridges.net/wp-content/comment-image/97.jpg

[Sparky]

We're getting late in the season for any significant PM rebound, so I'm thinking we continue to move downward, and scrape along bottom during summer. Bottom ranges are probably $22-$26 silver, $1450-$1550 gold. The good news is that following the meteoric rise of the metals in 2011, it was really going to take a hefty consolidation of price in order to attract a new wave of buying, and it looks like we're getting it. In the long run, it's better to establish a solid floor at a lower price, than a flimsy one at $32 and $1650.

[mamboni]

...................
http://gold-silver.us/forum/attachment.php?attachmentid=2698&d=1335208817
2698

[mick silver]

i think QE has been started without telling us small folks this time . there hidding a lot of stuff from us all . well hell today i sold alot of timber i have been setting of for some time . it maybe time to buy more silver ..............

[Book]

...not that I disagree with what you say about the rigging, the price is whatever they say it is, they paint the charts...



http://www.italiaoggi.it/upload/img/ITALIAOGGI/201204231116359675/img290203.jpg

https://tn4th.files.wordpress.com/2009/07/paulson-bernanke-geithner-7702621.jpg?w=300&h=199

Chartmakers can have no idea what these criminals are actually up to.

:)

[osoab]

It's an historic anomaly because this is not a free market. The metals are being massively suppressed by the FED and it's minions. The equities markets are breaking down and TPTB do not want hedgies and investment managers running to gold. The private investors are out of the market or liquidating. The FED is cornered like a rat. They will have to announce another round of QE soon or risk a repeat of 2008. It will have to be a huge number to motivate the markets. Gold and silver will fly higher.

What are they going to buy up now? More MBS's and CDO's? They already have cornered the Home Loans and Student loans. Maybe buy up credit card debt and auto loans? Bailing out Europe to prop up the markets isn't going to sit well here. That number would be huge. The paltry 450 billion (i think) that was just floated by the IMF is still childs play in debt and derivative terms.

So what is Bennie's new "twist"? I don't think he is ready to start dumping out of helicopters just yet.

[MAGNES]

.

I'll stick to this thread, critical support has been broken, GC 1630, 1620,
NY hour and after hours. Short term pennant broken to downside. Fat red
candle, GC needs to come back fast. We were watching this develop, again
it's May now, no highs like other years, April/May have always been seasonal
highs, quite the opposite now, and this weekend many in Europe voted against
the EUSSR and Euro.

Notice they open below 1630 and it quickly drops below 1620 very quickly.
They hit the stops hard, look at the volume on the yearly chart day bars.

GC at 1600, SI at 29.20 . SI sub 29.00 as I type this. Lower lows overnight.



http://i47.tinypic.com/2nbw0ll.gif



LIVE CHARTS
SI
http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801)
GC
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801)

[Sparky]

"GC needs to come back fast."

Magnes, this makes it sound like it's important for gold and silver to hold their ground here. It's not. Gold may very well be going to $1540-$1560 and silver to $26, within the next couple of months.

And it's okay.

8)

[Neuro]

It will be an interesting summer pricewise. I think RALLY! The question is just from which bottom...
http://i.mnpls.com/305/30551.jpg

[Neuro]

Here is a different perspective on a prospective bottom:

http://www.poster.net/anonymous/anonymous-bottom-shelf-1187611.jpg

[MAGNES]

"GC needs to come back fast."


GC broke support and a pennant to the downside, a nice red candle,
very weak chart and price action short term, very unusual for May,
next 3 days were down to sideways, not good, weaker and weaker
with high likelihood of further hard drops.

NEXT 3 DAYS, ending Friday

http://i47.tinypic.com/29e0phy.gif

AS EXPECTED, Monday, down to 1550 .

http://i50.tinypic.com/21bjvk.gif

I wanted to see a very hard fast drop, SI overshooting
like last few times, a good setup, etc, I don't like this slow
motion going down. I think Sparky knows these are weak
charts. A very nice hard drop with volume confirmation,
would be a good setup for a short term trade. My target
was 1500 based on 50% point consolidation of 1650.
GC has never corrected this much in this way for 3 past
years, and it is doing it during seasonal highs, weird.



LIVE CHARTS
SI
http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801)
GC
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801)

[Sparky]

GC broke support and a pennant to the downside, a nice red candle,
very weak chart and price action short term, very unusual for May,
next 3 days were down to sideways, not good, weaker and weaker
with high likelihood of further hard drops.

I wanted to see a very hard fast drop, SI overshooting
like last few times, a good setup, etc, I don't like this slow
motion going down. I think Sparky knows these are weak
charts. A very nice hard drop with volume confirmation,
would be a good setup for a short term trade. My target
was 1500 based on 50% point consolidation of 1650.
GC has never corrected this much in this way for 3 past
years, and it is doing it during seasonal highs, weird.

Well, we quickly reached my $1540 bottom, though silver still hasn't reached the $26 target. The miners were absolutely crushed again today. We're definitely in "blood in the streets" territory now. I suspect the next couple of days to be very telling. If we don't see some strength within the next 48 hours, then I agree we are going to head for substantially lower levels.

This comparisons we have to work with are 2006 and 2008; it really looks more like 2006. At that time, the spike high to $730 was followed by a 24% drop to $555 in just 30 days. After recovering half the loss, it then returned to a slightly lower low 5 months after the peak. This was followed by another 10 months of consolidation to stabilize the price around $650 before beginning the next leg up.

http://www.kitco.com/LFgif/au2006.gif

This time around, we had the $1920 peak lose 18% to $1580 within 30 days, followed by a similar half-recovery. This was followed by the late December low around $1520, which is 21% off the top. If we were to match the 24% drop of 2006, that would put the price around $1450. It's now approaching 9 months. So the price action and long consolidation is similar.

In the worst case scenario, we do a repeat of 2008, which ultimately lopped 33% off the peak price. The equivalent now would be a price down near $1300. Silver lost almost 60%, which would put it down near $20 this time around. So $1300/$20 would represent a repeat scenario.

I think what we saw in 2008 was a standout event, and won't be repeated this time around. $1500/$25 seems more likely. (Note: I have read so many guesses of $26 for a bottom in silver that I'm starting to think that won't be it.) As Magnes said, if we don't hold the next couple of days, we're probably headed down to the next level, which is $1450/$24.

Sentiment is incredibly low right now. That's good.

[MAGNES]

This is the 3rd or 4th hit of this nature, this is price manipulation and
painting the chart as shown above a few times, again at a key point,
this is very negative, another short term pennant is being formed,
and the chart does not look good, this hit prevented higher highs,
etc, look at the live charts in above link.

This is gold and it is key to watch, what silver is doing is not really relevant here,
SI follows gold and has good opportunities for trading, watch gold, trade SI,
we have been doing this for years, only amateurs chart SI on it's own.

Last week was expirey, I managed to turn 4 cents into 50 cents on
a fun play trade, lol . Unfortunately we did not get major superspike drops,
SI always overshoots GC, again, look at the yearly charts posted above
for this.

What GC does next few days is key, especially overnight and tomorrow.
Charts look like crap and are being setup again, all my above posts show
the painting of the charts and this happened during past seasonal high
periods, we got lows this time, this has never happened in all my time
looking at this, charts going back 10 + years.

Volume is high too, last week OI was 60K front month and volume was same.
OI remains at just above 100 K, it has been pretty steady despite volumes,
massive trades of positions being closed out and opened, at the end of the
day OI remains constant, net sum zero.

http://i49.tinypic.com/254x9qv.gif

There are some good posts above posted at key points, I chose this thread to
follow GC, some great day charts have been posted and good yearly charts,
hard chart posts and live charts, you can read what I am saying and look at the
charts yourself and learn to do your own analysis so you don't get suckered into
others bogus analysis, learning COT, OI is not hard , look at the chart
and follow it, do your own analysis, don't be a follower, another post here answering this article.
Silver Looking Up as JPM & SLV Conflate (http://gold-silver.us/showthread.php?61288-Silver-Looking-Up-as-JPM-amp-SLV-Conflate)