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Bill,
Your silver signal was as usual dead on. As ZH mentioned last evening’s silver flash crash occurred at 7:06 PM, the identical minute to when silver flash crashed back on July 6th. No need to investigate, it’s just another 1 in a billion probability which occurs with regularity.
As I have said for years with the cartel there’s never a 1% or 2% rule to the downside. For gold and silver the rate of decline is always much faster than the rate of gain. Whether that’s another cartel formula is debatable, but it seems on a daily trading basis the rate of decline is usually 3-4 times faster. For example in the 5 trading days from July 3 to July 10 silver fell $1.56, going from $16.70 to $15.14. From July 10 to July 31 silver recaptured all of that decline, gaining $1.69 on its way back to $16.83. It took 17 trading days to get back what was lost in just 5 trading days, a ratio of 3.4 – 1. There is no doubt that the cartel intends for longs to not only be frustrated on the way up, but to be always wary of getting destroyed on the way down. Imposing flash crashes with impunity keeps virtually all traders out of the market except for the cartel, and possibly large spec traders using OPM. Flash crashes make trailing stops useless, and can wipe out capital in a nanosecond. That’s the crooked game going on at the Crimex.
It sure seems like somebody is intent on securing physical gold in the $1200’s, and silver in the $16 area. The price capping here has been relentless. As long as thousands of tons are willingly dug up and forked over at these suppressed levels you might say, “It’s called winning, DUH”, to quote Charlie Sheen. Gold and silver have for now recovered nicely off of the morning selloff. Another day of promising, but with heavy emphasis on infuriating.
James Mc