Seeking Alpha

Silver is plunging again, now down nearly 15% in the last 2 sessions and taking out its low from...

Silver is plunging again, now down nearly 15% in the last 2 sessions and taking out its low from the "flash crash" on Sunday night. SLV -5.8%, PSLV -9.5%. Silver miners are outperforming. SIL -2.3%.
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Comments (11)
  • Stoploss
    , contributor
    Comments (1727) | Send Message
     
    Only 50% more to go. We wouldn't be inducing a bout of deflation so we can clear the way for QE3 after raising the debt ceiling would we??
    3 May 2011, 02:49 PM Reply Like
  • Tack
    , contributor
    Comments (14308) | Send Message
     
    No, just a standard sheep fleecing.
    3 May 2011, 02:53 PM Reply Like
  • Venerability
    , contributor
    Comments (3048) | Send Message
     
    From the GG Board:

     

    I am sitting here with a broken ankle, making it incredibly painful to sit at my computer, which was just moved to my dining room table - I can't get to my office.

     

    So instead of treating me with some basic human kindness and decency - without which all the contrived "USA! USA!" chants are so much pure hogwash - the Bird Gamer Anointed Ones are given permission to put so much malware on my computer the few days I was away, I can barely push down the mouse or keyboard keys. Then, they are permitted to destroy the best of the gold and silver stocks right before they report the best earnings in their histories. That includes GG, and that includes CDE.

     

    Of course, there is much, much more I wish to say. But I can't sit around here saying it while my foot turns black and falls off!

     

    So someone somewhere should have the simple decency to point out the obvious:

     

    ***That real PM bulls wanted the silver price to stay between 35-40 for now, instead of being faux spiked upwards in order to be faux spiked down. Spikes in both directions were childish, silly, and manipulative and have no bearing on where the companies actually sold their average silver in the quarter.

     

    ***That the gold price is sitting at 230 dollars above its last real inflection point of 1309, reached a mere six weeks ago.

     

    ***That the average gold price realized in Q1 2011 is at least 75 dollars higher than the average in Q4 2010.

     

    ***And that we are now past the first third of the Q2 2011 period, with an average gold price well over 100 dollars higher than that in Q1!!!!

     

    And the best gold and silver stocks should somehow NOT be at new highs?

     

    This behavior by our sector MMs is obscene, pure and simple. Take the stocks, which are the province of veteran gold and silver investors, not newbies, away from those who like and respect them and hand them to those who despise them.

     

    Plus, it is, of course, destroying the TSX at the expense of the Dow and Dollah! Dollah! Dollah!

     

    Let's hope the idiocy ends by tomorrow morning with GG's great earnings. (Actually after the bell, but maybe starts earlier.) AUY and KGC report today. Maybe they'll be OK, too, although I don't follow either. I KNOW CDE is going to look extraordinary next Monday, even if it comes in at the low end of consensus.
    3 May 2011, 03:00 PM Reply Like
  • Venerability
    , contributor
    Comments (3048) | Send Message
     
    Pass this on to your favorite Anointed One.

     

    The way I have been treated is a pure disgrace. More importantly, it's why this market and this country will never, ever be able to bully their way back into a position of international prominence, so long as the "other 99 percent" of us are treated like so many cockroaches or computer game villains for the ongoing obscene enrichment of the other 1 percent of Anointed Ones.

     

    That I should be bleeped this way, while I am in extreme pain from an accident - well, you just try to justify this Bird Gaming as anything but the pure malicious psychopathology it is.

     

    How about another "MacGyver" skit on Saturday Night Live? The entire world is watching this sadistic obscenity - and I assure you they don't like it.
    3 May 2011, 03:06 PM Reply Like
  • American in Paris
    , contributor
    Comments (5504) | Send Message
     
    You sound a bit self centered.
    3 May 2011, 03:20 PM Reply Like
  • Duude
    , contributor
    Comments (3398) | Send Message
     
    If you can't handle the heat, get out of the kitchen.
    3 May 2011, 03:40 PM Reply Like
  • WMARKW
    , contributor
    Comments (10690) | Send Message
     
    Well...you have my sympathies. I for (two) am disgusted with the manipulation and the total lack of integrity in the COMEX among others.

     

    Have a hug.
    3 May 2011, 11:54 PM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Too much air. Once the air is out it will start going up.
    3 May 2011, 03:11 PM Reply Like
  • David Urban
    , contributor
    Comments (1036) | Send Message
     
    May is typically a down month for gold and silver setting the stage for a rally then a bottom in the late summer, early fall timeframe.

     

    We are not seeing the end of a bull market just a short-term pause before the next leg up.
    3 May 2011, 03:31 PM Reply Like
  • WMARKW
    , contributor
    Comments (10690) | Send Message
     
    Near as I can tell the flash crash in Silver started this past weekend with the sale of 2000 future contracts. Anyone wanna take a guess at which manipulator sold those?
    3 May 2011, 11:55 PM Reply Like
  • WMARKW
    , contributor
    Comments (10690) | Send Message
     
    And the strategy to pull the rug out before the earnings releases of the miners...well, at least you have to give the stinking manipulators credit for being pretty smart...despite their being the most dastardly banksters in the world....total scum...they would put their grandmother into CDS or MBS just to make a buck.
    3 May 2011, 11:58 PM Reply Like
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