Den Of Vipers

Wed, Sep 2, 2015 - 11:42am

Ever wonder how it is that 90% of all Comex traders get completely wiped out within 90 days of wandering into The Den of Vipers? Today's action is a perfect illustration of how these "markets" are utterly controlled by the Bullion Banks and the HFTs, all to the detriment of anyone foolish enough to think they are trading on a fair and level playing field.

Today's economic news was, once again, ALL BAD. This caused some ripples in the metals early but, with gold paired so tightly with the yen, no headline was going to move gold and silver specifically without a concurrent yen surge.

What happened next caught quite a few people by surprise. Silver began to surge higher, moving from $14.46 to $14.81 in just over an hour. That's 2.5% and $1,750 for any contract a computer was lucky enough to hold before the spike began. Ah, but there's the rub. Just as soon as The Little Guys saw the rally, price immediately reversed and was shoved back down. Just 45 minutes later, silver was already back down and below where the spike began...all the way down to $14.43.

On the 3-minute, intraday chart, it looked like this. Again, no news. Just some HFT stop-hunting and Bullion Bank manipulation:

And gold wasn't immune to the nonsense, either. I was on the phone with Andy at about 10:35 EDT when suddenly he stopped mid-sentence and burst out laughing. I enquired as to what was so funny. He said it was the 7,000 contracts he just saw go by...all dumped at once in a clear effort to drive price back down to/below the 50-day MA. We both chuckled at the audacity of it all. Here it is on the 1-minute chart:

So, now, here we are. I have lasts of 34 and .53. Gold is still above its 50-day, which today is near 30 on the Dec15 contract. And, if you hadn't been watching all morning and/or attempting to trade, you'd never know that anything of significance had occurred in silver. It's only off 9¢ on the day.

However, here's the end game. If you're wondering why I've cited the BBs as complicit in today's scam, check what is being painted onto the daily chart again. Another bearish engulfing candle and ORD! I am 100% confident that, when the BB traders saw the HFT squeeze move to a higher high than yesterday, they pounced on the rally with the intent of painting this third bearish reversal in the past 13 days. All of this ahead of the next BLSBS and an attempt to wrong-foot as many unsuspecting traders as possible prior to 8:30 am EDT Friday.

Check this nasty, little chart. There have now been three rally attempts in silver over the past month and all three have been blunted and reversed with ORDs. This is NOT pretty and anyone crazy enough to be "trading" this market would almost have to be short given these clear, formerly reliable indicators. (I say "formerly" because it's all such a scam now. Every market is driven by the Central Bank intervention in Forex and VIX, causing the HFTs to react. Waves and cycles are relics of the past.)

Gold isn't quite as "bad" but, again, it's a larger market and almost directly driven by the yen-following HFT algos. Silver, being a puny little viper pit, can be made to do whatever The Evil Ones prefer on nearly a daily basis. Here we go again, though. As is often the case, a handy pennant has been painted on the daily chart...just in time for BLSBS Friday. IF ANYTHING SHOULD CONVINCE YOU OF THE CONTROL AND MANIPULATION, IT'S THIS!! How many times has gold been positioned into the corner of a pennant or just above a key moving average as BLSBS approaches? Just this year alone has seen this happen at least 3 or 4 times!

So, anyway, I think I'll stop here because I assume you get the point. Friday will be a very interesting day and then we all get a 3-day weekend. I don't know about you but ole Turd is really looking forward to it.


About the Author

turd [at] tfmetalsreport [dot] com ()


Sep 2, 2015 - 11:43am



Sep 2, 2015 - 11:46am

home court advantage is important

for them. good strategy would be to ride their coattails, if we could. I am not on that e mail list.

Thanks for reminding us but it just made me sick

I watch a 1 minute chart of gold and silver and miners etc, and suddenly out of nowhere we see heavy volume to te downside. I'd like to see heavy volume to teh upside and a one minute tick up that is enormous and gets followed up.

Sep 2, 2015 - 11:47am


Silver Recliner Report 62 and The Old Fart is Still Stacking

Silver Recliner Report 62
Sep 2, 2015 - 11:48am



Sep 2, 2015 - 11:50am


"Ye serpents, ye generation of vipers, how can ye escape the damnation of hell?"

Sep 2, 2015 - 11:50am

premature again

damn, not quick enough

Sep 2, 2015 - 11:57am

Long weekend

Guaranteed the crooks will want the metals red for the sheeple to ponder over during the long weekend

Sep 2, 2015 - 11:58am

taking delivery at comex

at one point buying a contract was an effective eficient way of buying gold or silver with lower cost. Then about 4-5 years ago as memory has it, brokers dissuaded longs from taking delivery.

Is that still the game now?

I assume Druckenmiller bought GLD to take delivery and he should be big enough and influential enough to get it. That too is an effective and efficient way of getting gold. If you are on the right list.

Sep 2, 2015 - 12:01pm

@fellow turdite Re: Arbitrage FF & GCU

Can't remember if it was Mickey or not, but a fellow turdite alerted us to an arbitrage opportunity between FF and GCU... doesn't seem to be happening. Anyone know why?

Sep 2, 2015 - 12:07pm

Silver Stacking Warriors are

Silver Stacking Warriors are Brutally Breaching Enemy Barricades

Silver Stacking Warriors are Brutally Breaching Enemy Barricades

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