the last aborted bear raid started, what?...a couple weeks ago, the May was 15.60, and the open interest hit a high of 114,000 cars....it failed, I believe we traded up in the high $16's.........woke up insanely early, just checked the board, the May is trading on its lows, 16.64, down .24 and the open interest is at 110,502.
its nothing to get crazy about, but it will be interesting to see if THEY try it again, after all the board (paper silver) is at 110,000 cars, and these guys DO want to make money, maybe see if they can hit the 14.00-14.50 area, and then cover their shorts, but they might be playing with fire. They've gotten greedy over this last year, using massive firepower to slam paper silver, kind of like an ATM.
the reason I say "playing with fire" , have you guys been watching the dollar trade?...last week was a doozy, on Wed, we had that bizarre flash crash, took the dollar from 99. something......down to 94.70 in a matter of minutes, then in the next hour, right back up.....and on Friday, quad witching hour, the dollar started down hard, down 1.60-1.80...all day long. in 30 years, I've never seen the dollar really move like that last week, volatile and whippy....I've never really been a currency guy, always meats, grains and crude, so i'm not an expert. (and the only PM futures trade I ever made was in April 82, when the Falklands war started, gold, and I got my head handed to me, on ONE stinking car)
But I know when a futures market is acting whippy and volatile,and that was the dollar last week, its in the 98-99.00 area.
for the life of me, a pretty simple guy who likes to trade corn and wheat spreads, I don't know what the game is here, and I keep reading these 5 star GOOD hedge fund traders, and in the alt media, THEY are spooked and freaked out, with talks of collapse, impending war, etc.....the guys who make me nervous, are these sub 30 year old bank prop desk traders...its not THEIR money, they're trading for the bonus. At least with the "superstar" hedge fund traders, they HAVE to be on their game, for their funds yearly performance......and they don't know what to do.
which is why stacking prudently seems like the only SOUND play available...tell you what though, the last 3 quarters of 2015 are going to be very "interesting"...probably more like "terrifying".....i'm laughing, because in the final analysis, we ALL are really powerless, as TPTB flail around in their lunancy.
as I said before, i'm sticking with .9999 Ag, no 90%'ers, coz Nate freaked me out so bad with that picture of that collection of 90's he posted that were all counterfeit.
I just cant believe Obama and that band of fools at the Treasury, Fed, and Congress ramped up the national debt to 18 trillion dollars, Jack Lew and Janet Yellen have to be about the dumbest pair of white people I seen in my life.
But I guess there's a reason, that the popular mythology is that a silver stake or bullet kills werewolves...or is it vampires?
Thomas Jefferson...Andrew Jackson, they got to spinning in their graves, while Alexander Hamilton is having martini's with satan.
Cazart!