Loading ...re: coke head … I want to see him do a dance!
Metals support
All the metals went down to various moving averages for support. With any kind of luck, tomorrow will be “turn around Tuesday “ with an inside day up reversal.
rno
Ain’t it strange that for the last 3 hours a mkt that was falling apart
and swinging around all over the place, has been dead in the water….anyone wud think blatant manipulation was going on….which is supposedly illegal…I guess the CFTC is still on the slopes, or face down in a topless bar….they sure ain’t doing their jobs.
Captain Hook
I too doubt JPM covered that short and went long……I knew someone who would have known all about Bear being a huge short and the reason it went down etc….and considering what he told me about what they did get upto, that would definetly have been mentioned…..
But what is certain, is that someone was smashing the PM mkts for decades, in huge size…..how the hell they covered it without the mkt exploding I have no idea…I rather doubt they ever did.
One thing that is certain about the PM mkt, is the truth is very hard to find, even when in the centre.
Captain Hook
Yeah news says close to peace deal then @11:24 .. drone is aimed at Putin’s house?!?!? Zelenski makes a better clown up to no good than a diplomat. Can’t trust anything about that clown and check you pockets before he leaves the room..
An outside down day tape paintjob on silver today …
… they won’t let silver bounce today with the tape painting going on … and maybe we get a correction … as tax deferral traders will be selling in the first week of the New Year … but it won’t last … too many corporates need the physical.
They will be back with a vengeance.
JMHO
Buygold @ 13:28
They accumulated all that silver for whom?
My guess would be the Pentagon … you need a lot of silver to be a war monger.
That’s if the rumor is true.
Somehow, I doubt it … they are not that smart.
Gaffaw
Maddog
So smart money had to bail out stupid money at the CME.
I wouldn’t be surprised if buyers don’t start looking at these mines after this instead of throwing away good money after bad to these jerks sitting behind computers who see no consequences to their easy money schemes who think they can make up their own rules along the way.
ipso facto
re ukraine……i see the coke head was wearing his best suit……
JPM
Apparently, they accumulated 750 million oz. and covered all their short positions while buying long contracts and taking delivery of 150 million oz. a month in a 5 month period according to the Asian Guy. Almost a year’s worth of supply
The Hunt bros only accumulated 100 million oz. when they were broken.
They’ve positioned themselves as the seller of last resort to industrial buyers. Q1 is going to be interesting to be sure.
Is it possible that JPM and China are colluding?
Phiz silver
Premium at apmex is $7.00.
rno
While they were in talks!
Russia vows retaliation against alleged drone strike on Putin’s residence, says response is unavoidable
While there is not a great amount of detail on what Putin and Trump discussed over the phone, Russian media are giving a few more lines on what the Kremlin’s foreign policy aide Yuri Ushakov said.
Ushakov said the Russian side expressed that the claimed attack on Putin’s residence “will not go unanswered,” and that the strike took place “practically immediately after” the talks between Trump and Zelenskyy in the US on Sunday.
He added that the US president was “shocked, literally outraged” over the issue. He went on to say that the two presidents agreed to continue dialogue.
His comments come after Lavrov claimed that Ukraine launched a drone attack on Putin’s residence in the northwestern Novgorod region using 91 long-range strike drones.
Lavrov said Moscow will revise its negotiating position amid ongoing talks for peace in Ukraine due to the attack, but added: “We do not intend to withdraw from the negotiating process with the United States.”
heavy short covering in Ag shares
Looks more and more likely this attack is to try and bail out PM share shorts….
50 million paper silver oz in 15 minutes!
Screenshot
Day traders
Looks like the short day traders are taking profits in silver. If it gets above 72.50 – 73 we may get an acceleration to the upside.
rno
RNO/Maddog
I vote for short term top.
Shares doing a nice job of clawing their way back, even with a weak SM going against them.
“Going to be a volatile week” – probably a good bet.
Captain mentioned March. I mentioned March a couple days ago. It’s the next big delivery month, hopefully the month that Crimex defaults and we get real price discovery.
I’m already looking forward to the Shanghai open. 🙂
First line of support
Metals have reached the first of several moving averages for support.
Markets very often top or bottom around major holidays. Our big question is it a short, intermediate or long term top.
This week will probably be extremely volatile. It sure started out that way.
rno
Buygold
A simple overbought/oversold indicator, can be created by meauring the Diff between the two Lines on the MACD indicator…..that shows silver on a monthly basis, more O/B than at the top of the Hunt mkt in the 80’s
GDX just trades above opening price…..is this smash to try and get out of share shorts as well……
goldielocks @ 11:08
Right … that wasn’t coincidence the Zelinski dog and pony show was dragged out again over the weekend.
Pathetic liars … the whole shebang
News
News of getting closer to a peace deal with Ukraine that is unless the neocons don’t sabotage it likely did affect gold today.
Maddog @ 10:37
I forgot to say it looks like many of the gamblers migrated over to platinum and palladium based on the drubbings they are taking today. (I guess they thought silver had moved to much)
Suits me fine.
Just keep the physical buyers coming into gold and silver.
Please and thank you
goldielocks
Yeah that’s right! I could use a nice candy bar! 🙂