Loading ...I feel your pain. What a way to wake up. Wonder how long till Red Eagle recovers?
Mr Copper
I ran a metal trading desk in the City of London….before it all went totally bent.
Samb
Re in yr face…..No way is it to cover shorts, as they hardly ever bother and their total short by now is monstrous. Tdys hit ran stops in a quite mkt…but there has been near zero bounce back, so job done.
eeos @ 11:45 Too Many Americans Are Media Created Idiots
Read the “letters to the editor” all the time. You can see right there how many nut jobs are out there. In the 1950s everybody went to church for religion. These day??? Their religion is the stupid global warming,
The environment, the animals, the pesticides, the herbicides, gun control, don’t like neighbors high grass, or parking on the grass, nuclear power, they don’t like hunting, don’t like big gas guzzling SUVs, they want their street made a one way, they want more stop signs to slow the 30 mph traffic to 10 mph, they complain about EVERYTHING and never stop. And they are never satisfied.
When I was a kid the Doctor came to the house, we burned our kitchen garbage in a burn barrel. Burned the leaves in the street. Let your dog out loose all day. We rode our bicycles behind the DDT Truck, we liked the small, and riding thru the fog.
Everybody was happy until NEWSPAPERS and TV started “modernizing everyone” into complain and control your neighbor freaks. The new religious group.
regarding the road rage video
both the biker and driver should have paid with their lives, both are a waste of oxygen. Biker might have been wronged, but obviously he didn’t stop after he caused accident. Criminal act. The car driver looks to be trying to take out biker too. Explain it to the cops losers
@maddog The second eye wall is getting close.
All I know is stocks bonds and real estate are all over priced. When the big slide starts, it will be the Perfect Storm. All three will do the Thelma and Louise thing off a cliff, and then FINALLY the USA can get back to normal.
re “he used to work for me”. What was your job at that time?
Maddog @ 10:24
The thing that really bothers me is this is done “right in your face”. No attempt to wait for cover via some news event. Some say this is to run stops and hurt the longs. Others say this is done to help unwind their shorts.
Supreme Court reinstates Trump travel ban
WASHINGTON (AP) — The Supreme Court is letting the Trump administration enforce its 90-day ban on travelers from six mostly Muslim countries, overturning lower court orders that blocked it.
The action Monday is a victory for President Donald Trump in the biggest legal controversy of his young presidency.
Trump said last week that the ban would take effect 72 hours being cleared by courts.
The justices will hear arguments in the case in the fall.
Mr Copper
“No-one has a clue, apart from the unfortunate individual that pressed the wrong button,” David Govett, head of precious metals trading at Marex Spectron Group in London, said of the spike in volume. Thin activity and automated trading may exacerbate such moves, he said.
A Fat Finger trade implies an error, which has to be covered…there has been no covering, as prices have stayed down.
Simple scum stooge at work, giving out disinformation…how do I know…he used to work for me and was a total shiite.
re More trouble in Tanzania
That sounds like the villagers are fed up with immigrants taking advantage of their land. Unless of course the mine is owned by locals, which I doubt.
More trouble in Tanzania
Villagers invade Acacia’s North Mara mine in Tanzania
Re the 1.8 Million Ounces Traded in a New York Minute
A trade is a trade. I wonder who the discount buyers were. All the internet gold dealers? I just checked Texas Metals and their sell prices are low $1298 $55 over $1243, so they must have an automatic $55 commission no matter what the paper price is. Figure that one out.
Maya @ 4:10
Cool pic! 
I should have sold this weeks ago when the SP first began to show weakness
RED EAGLE MINING ANNOUNCES RIGHTS OFFERING
June 26, 2017 – Red Eagle Mining Corporation (TSX: R, BVL: R, OTCQX: RDEMF) provides an operational update and announces an equity Rights Offering. Gold grades in the production headings have been in line with feasibility study estimates, averaging 5.5 grams per tonne gold during May 2017. However, challenging ground conditions have led to unacceptable dilution and gold losses using the current mining method. Consequently, to get the mine on a firm footing, management has deemed it prudent to halt stope production and move to a new mining method that will require the construction of a paste backfill plant. Once in place, there will be both better grade control and in particular gold losses will be minimized. This temporary suspension of mining high grade stopes ensures that gold production from these areas will be maximized.
While the paste backfill plant is constructed, production crews will be diverted to underground mine development. This will ensure greater operational flexibility once the paste backfill plant is in operation. In order to fund the paste backfill plant and to provide working capital before gold production resumes, Red Eagle Mining is undertaking a Rights Offering.
A Rights Offering was chosen to give the opportunity to all existing shareholders to participate. Major shareholders have informed Red Eagle Mining that they intend to fully exercise their Rights.
Rights Offering
Red Eagle Mining has filed a rights offering circular (the “Rights Offering Circular”) with the securities regulatory authorities in each of the provinces and territories of Canada in connection with an offering (the “Rights Offering”) of rights (“Rights”) to acquire units of Red Eagle Mining (a “Unit”) for gross proceeds of up to approximately C $46 million. Pursuant to the Rights Offering, each eligible registered holder of common shares of Red Eagle Mining (“Common Shares”) as at the close of business on July 5, 2017 (the “Record Date”) will receive one Right for each Common Share held. For each two Rights the holder will be entitled to subscribe for one Unit at a subscription price of C$0.35 per Unit. Each Unit will consist of:
•One Common Share of Red Eagle Mining; and
•One transferable common share purchase warrant (a “Warrant”) exercisable into one Common Share of Red Eagle Mining at a purchase price of C $0.50 per Common Share for a period of five years from the issue date. The Warrants will be listed for trading on the TSX subject to fulfilling the TSX minimum listing conditions.
1.8 Million Ounces Traded in a New York Minute
“No-one has a clue, apart from the unfortunate individual that pressed the wrong button,” David Govett, head of precious metals trading at Marex Spectron Group in London, said of the spike in volume. Thin activity and automated trading may exacerbate such moves, he said.
Others said a trader may have made a larger order than intended, or underestimated the market’s ability to absorb so much gold.
Rising use of computer-driven algorithmic trading has often been blamed for extraordinary movements in financial markets, known as flash crashes, in recent years.
Comment:
What’s going to happen next in this “new fangled” unstable man made artificial global economy? I saw a huge apartment building in UK up in flames because the OUTSIDE cladding was combustible?? I wonder how much money they “saved”. Now I hear they evacuated other similar buildings.
Even all the US Trade Center buildings were “new fangled” construction. Each one a big hollow shell of a building. Not built to 1910 codes. They wanted to save money and use less steel than normal. It worked, but there’s always a compromise when you “save money”. The entire buildings were only as strong as the “floor boards”.
“Every time you try to save you lose” Coined by me in 1966.
Over time TPTB with their media have succeeded to create a “cheep skate economy”, and numerous people with “issues”. Neurotics all over to say the least.
Durable Goods miss
Down 1.1%. USD hit a little.
A normal market would bring short covering in pm’s. Doubtful.
Yields on the ten year down to 2.13%.
Morning Maddog
Definitely not a fat finger. No one could see this coming except for the crooks.
Once again no rhyme or reason. USD flat, oil and nat gas up. Pick your poison, there’s nothing to explain the dump.
Sooo….we start yet another week in the crapper.
Gold and silver never rally in June
So hell with writers and shite talking experts. Nothing makes sense b/c the matrix knows no other master. Keep stacking and see what fall brings. Can’t last forever, but they might end up killing off most of the bulls. Its a brave new world but the old guard is cemented in. Just look at US politics….its a bunch of old dinasour criminals. Either no one my age wants the job or the elite have blockaded themselves in DC and are barring the door
Gold Flash Crashes As “Someone” Dumps $2 Billion, “Fat Finger” Blamed
Fat Finger my arse….scum at work.
18 K contracts or $ 2 billion in value…dumped in 1 minute !!!!!!
http://www.zerohedge.com/news/2017-06-26/gold-crashes-someone-dumps-2-billion-fat-finger-blamed
Net result, we are trading $ 14 plus down from Fridays close, on no news at all.
Frank Barbera=That puts the mining stocks currently in the 98th and almost the 99th percentile of oversold daily values.
While it is never easy to accurately forecast in real time when the mining stocks are near an important turning point, at the present time, there are some very loud bells ringing that suggest yet another important bottom—possibly a major low—could be close at hand.
Above: Short Term Ratio of Total Up to Down Volume for Gold Stocks
In the chart above, I show a picture of the GDX ETF in the upper clip and my Short Term Up to Down Volume gauge in the lower clip. One of the wonderful features of an ETF like GDX is the ease of entry and exit, where the ETF virtually trades like water every day, averaging about 58 million shares turnover on a 90-day basis, down from a peak last June of around 89.3 million shares per day. For the Up to Down Volume gauge, the typical overbought and oversold parameters are overbought readings above 2.00 and oversold values below 0.50. Over the last five days, we have seen readings of 0.26 on Tuesday, June 20, 0.299 on Monday, June 19, 0.327 on Friday, June 16, 0.397 on Thursday, June 15 and 0.505 on Wednesday, June 14. In the 10,198 trading days seen since early 1977 (a period a little over 40 years for which data on this indicator exists) there have been only 136 trading days which have a value of 0.26 or lower. That puts the mining stocks currently in the 98th and almost the 99th percentile of oversold daily values.
http://www.financialsense.com/frank-barbera/gold-mining-stocks-back-up-truck
Got this off ZH comments section
What we are witnessing is the demise of the British Pound as Theresa May can make a government and TPTB don’t want Corbyn’s Labour – and this adding Italy or the ECB bailing out (again) 2 already balied out Italian Banks to the tune of about E18Billion – which the Italians will pay for a long with a bunch of mindless europeans.
So the Euro is also on the line.
Now the EU has called for a conversion of the Brusssels EY Bureaucracy into a Military Union (Junkers) of Suepermen and off-the planet Special Forces to be Independent of NATO and the USA – Huh?
John Kerrry has told somebody important (so I hear so I don’t know if it is true) that ISIS that is the US Mercs in Sysria manning Idlib will be maybe today annihilated by Syrian Forces. The USA is afraid to take a plane off to fly over Sysria as they have been told.
You are right if you question this. Huh?
Now a flash crash of 300 T of Gold Paper to smooth things out for the day as the Democrats feed on themselves and the Republican prepare themselved for Hell along with Brennan and Clapper – and a few more.
Should be an interesting day all round.
Don’t worry about Gold. As the government / banker Con becomes visisble by all and sundry, as it already is, Gold will steadily regain its rightly position as King. And all will agther around the Madame Guillotine to watch the heads roll into the baskets.
I heard Marc Faber suggesting that equitieis could crash 40% soon. He didn’t say when, but I suspect soon.
Japan’s 10y Bond Market is frozen for a week or more and all sorts of investments are going to Russia.
Oh Yes,
The UN has voted unananamously against the UK / Us in the matter of the Chagos Islands ( Holy Hell – that’s Diego Garcia the secret US base off the Horn of Africa.)
Ya gotta Laugh.
Ho hum
dude, don’t be trying to “make money” with AU right now..in a year, perhaps, but anyone who risks capital on gold at the minute needs to be able to lose without asking for “a shotgun”
Remember: you may get out less than you put in. No such thing as an “upward trend” when CBs are involved
9.01 Am London time scum execute $ 12 Gold smash in 1 minute, in quite summer mkt…because…….they can.
R640 Hindenbergs are banished by order of the scum…..because they can.
There are some ‘perceptions’ about gold in europe as a safe haven that have to be controlled with a couple bank failures occuring in the PIGS last week … you guys are so selfish thinking they are just trying to manipulate our perception in the US