Algos In Charge

Looks like the WOPRs have the run of the place today ahead of the BLSBS tomorrow. Let's see...what else can we talk about?

Well, we should start with the metals, of course. There doesn't seem to be much happening today as most participants (with actual human intelligence) have learned to be wary ahead of the monthly BLSBS. This leaves price to the machinations of the machines and we're left with a tightly rangebound but volatile market. The 200-day MA in the Apr13 is right below $1670 and the 50-day in the Mar13 silver is at $31.90. Expect the trade to center around and bounce off of these levels for most of the day. Any sustained dip/raid that suddenly drops price toward $1660 and/or $31.60 would present a pretty good trading opportunity as London physical demand remains very robust and those levels would bring a lot of buying. This, in turn, would cause The Cartel banks to buy futures to hedge and the paper market would/should recover. Be vigilant and patient.

How about crude? It's down today with most everything else in spite of the flare-up in tensions vis-a-vis Israel/Syria/Hezbollah/Iran. See this: and this: Price has reached and exceeded our long-standing target of $98. Even with the "tensions", I'd still be looking to ring the register a bit here and wait for a pullback. Below are two charts I posted into the comments of yesterday's thread.

OK, how about some reading material?

Our good pal, Trader Dan, was all over the web yesterday and you'll definitely want to read both of these. First, there's this terrific piece on his own site where he discusses the long-forgotten (it seems) Euro-Yen cross. And then he showed up over at KWN where Eric has inked him to exclusive analysis. This is a very good read, too.

Another friend of Turdvile is The Crazy Canuck, Jeff Nielson. Here Jeff discusses the prospects for "global growth" in 2013.

Alasdair Macleod has been writing some fantastic stuff lately at the GoldMoney website. Seems like 2 or 3 times per week. Keep an eye on that site or you might miss something, like I nearly missed this:

Here's a link that somebody sent me by email. I haven't had the chance to fully review the site yet but it looks interesting. Maybe some industrious Turdite (with some time on his/her hands) could peruse the site and see if it is something valuable.

More and more talk about the renminbi/yuan becoming a/the new world reserve currency. As you know, I am convinced of this eventuality...I'm just not convinced of the timing. So, I try very hard to not paint myself into a corner regarding it. However, I can't help but get the felling that this is looking more likely sooner than later. Maybe as soon as the next 1-3 years? Maybe? Just keep watching these stories and collecting these links. All of the signs are there.

And fresh off of his overexposure at CNBS yesterday, Squeaky is out with a new missive this morning. I'd suggest you read the entire thing and you can find it here: To save you time, however, here's a C&P of his conclusions:

Speed Read for Credit Supernova
1) Why is our credit market running out of heat or fuel?
a) As it expands at a rate of trillions per year, real growth in the economy has failed to respond. More credit goes to pay interest than future investment.
 b) Zero-based interest rates, which are the result of QE and credit creation, have negative as well as positive effects. Historic business models may be negatively affected and investment spending may be dampened.
 c)  Look to the Japanese historical example.

2) What options should an investor consider?
a) Seek inflation protection in credit market assets/ shorten durations.
 b) Increase real assets/commodities/stable cash flow equities at the margin.
 c) Accept lower future returns in portfolio planning.
William H. Gross
Managing Director

As I go to close, I see that a headline of a Chicago PMI beat has caused the algos to pound the metals lower. Let's see...outright QE∞ and a negative Q4 GDP were only good for $13 yesterday. A "surprising" Chicago PMI rips it all back out. What a freaking joke. Just btfd.




alan2102's picture

Silver pep-talk

If anyone needs some good silver pep-talks, I heartily recommend Hamilton's, linked below. He gives some fine historical perspective, and brings it all into the present (and future). Note for example how he describes the big wipeout of april 2011. He puts it in proper historical perspective. He says that "there was no crash like we saw in 1980.  Silver CONSOLIDATED HIGH AND  HELD MOST OF ITS GAINS."   That's the proper way of looking at it. And we ARE still in the midst of a bull market. But silver is being its usual self: volatile and temperamental, and frustrating.  Don't mistake volatility and strange temperament for "iron-grip control of manipulators".  As Jim Sinclair has said (paraphrased): "silver will make  you rich, but it will drive you crazy along the way".

Silver is headed for MUCH higher prices. All the manipulators can do, I am convinced, is modify the ascent, and keep things from breaking out of control too quickly. They probably did have a part in the wipeout of april 2011; if they had not intervened, it could have become a great explosion.  A great explosion would be nice, in a way, but a managed ascent is better. You'll have a more stable society in which to deploy your riches. Less need for all those thousands of rounds of ammo. Ha.

Another advantage of managed ascent is that price will be more stable. Under explosive circumstances, you could have $850/ounce one day, $250/ounce the next, and so on. Crazy. Is that what you want? 

The manipulators -- to whatever extent they really exist and are really effective -- are doing us favors. They are helping to build a tremendously strong base.  They are making it so that you cannot possibly lose on  your physical PM investment.  It is now truly a zero-risk investment. (Always was, for 12 years, but now more than ever.) They are making it so that the price has only one conceivable long-term direction: up, way up. Which they ultimately cannot stop, only modify or slow.  That is of course in addition to the numerous other and compelling fundamentals (industrial demand, monetary demand, etc.).

Anyway, here's Hamilton:
Silver’s Strong Upleg
Dec 14, 2012
By: Zeal_LLC

and (with snippets):
Monetary Inflation and the Real Silver Price Highs
Jan 11, 2013
By: Zeal_LLC


Silver has always been a hyper-speculative metal, which greatly amplifies the magnitude of its popular speculative manias that climax secular bulls.  The terminal ascent of its last one in late 1979 and early 1980 was mind-boggling.  It skyrocketed vertically in a legendary parabola, and then immediately collapsed in a legendary crash.  In today’s dollars, silver’s January 21st, 1980 high was actually over $142 per ounce!


 Silver’s advance in today’s secular bull has been much more gradual than the 1970s one.  Its April 2011 peak near $50 in today’s dollars was only about a third of its January 1980 one.  And afterwards, there was no crash like we saw in 1980.  Silver consolidated high and held most of its gains.

Provocatively, today’s silver bull ought to ultimately see a popular-speculative-mania-driven real peak that far exceeds January 1980’s.  Back then the rest of the world was much poorer, so most of silver’s mania was from American and European buying.  Today Asia is far wealthier in real terms, with growing middle and investor classes that have a deep cultural affinity for precious metals.  Imagine when they go crazy for silver!

The Information Age will also contribute to a bigger speculative mania.  Several decades ago financial information was hard to come by, but today it is ubiquitous.  When silver eventually starts marching higher in its secular bull’s mammoth terminal ascent, the Internet will be abuzz with hyper-bullish commentary.  This will seduce in far more normal non-investor people than participated in the last mania.

Silver’s latest April 2011 peak, the upleg leading up to it, and the secular bull that spawned that upleg truly look nothing like the last secular bull.  Silver still remains a tiny alternative investment scorned by Wall Street and ignored by mainstream Americans.  It has yet to capture the popular imagination as the ultimate sure-thing investment.  We haven’t seen anything close to a popular speculative mania yet.


Secular bulls don’t end until they bloom into a popular speculative mania that sucks in normal everyday non-investors heading into the climax.  And when mainstream capital pours into an asset that hasn’t seen so much demand before, its price explodes higher with a fury that can never be matched in even the largest normal upleg.  The terminal gains in April 2011 were nowhere near popular-mania velocity.

And the aftermath of that flood of popular buying is a crash.  Once greed gets so extreme that anyone willing to buy has already bought, only sellers remain.  So the mania price promptly collapses.  Note above that the silver speculative mania ignited in August 1979 near $27 real.  After shooting up to $142 in January 1980, silver was back down near $32 by March 1980.  The entire mania was wiped out in just 2 months!

Contrast this with the April 2011 aftermath.  That large upleg really started humming in September 2010 after breaking above $20 real.  It peaked just under $50 in today’s dollars in April 2011.  But despite the subsequent near-crash, the worst silver levels seen in the couple months after the peak were still near $34 real.  So instead of the entire upleg being wiped out, nearly half its gains survived even at worst.


In today’s secular bull, as of its latest April 2011 peak silver was only up 1094% in nominal terms and 842% in real terms.  These are less than a third and a half respectively of the precedent the last secular silver bull set.  And remember that happened without significant Asian participation in a much-poorer world with vastly less paper money, and without the Internet to whip up non-investors into a silver-lusting frenzy of new buying.


there is definitely a mean-reversion tendency in silver’s returns.  Weak years are generally followed by strong years, and vice versa.  After 2008’s stock panic crushed it, silver soared 52% in 2009 and 83% in 2010.  And those incredible years led into the high consolidation of 2011 and 2012, with their 10% loss and 10% gain.  So if silver’s secular bull is indeed alive and well, it is certainly due to surge once again in 2013.

And there’s one more thing to note in this real-silver comparison.  Today’s secular silver bull, while erratic, is much more consistent than the 1970s one proved.  Silver’s gains have been more gradual, the periodic sharp surges as greed waxes excessive haven’t been extreme like the 1974 example.  This implies today’s bull has a much larger investor constituency deploying capital more gradually over time.

Thus today’s bull is considerably more robust, it has a stronger foundation than the 1970s one.  This supports the thesis that today’s secular silver bull will ultimately prove larger than the last one.  The better the foundation, the more investor capital deployed before that crazy popular-speculative-mania phase sets in, the higher silver can potentially rocket when the general public finally comes storming in.

So despite all the silver bearishness out there today spawned by silver’s recent weakness, its secular bull looks far from over.  Popular speculative manias cap secular bulls, and though the spring-2011 upleg was strong it was nothing remotely close to mania-caliber.  Silver is going to see much higher highs, dwarfing April 2011’s near $50 real, before this secular bull has fully run its course and finally gives up its ghost.

Texas Sandman's picture


Looks like the old sow is about to take out critical support right around 79.  

If that holds to weekly close, should be PM friendly despite the machinations of our friends in the EE.

We'll see.  Sentiment in silver a bit better today.  At least some of the market orders are going off at the asked, which is even better in my scheme of things than the moonshot day when I stood aside in the futures.

>As Jim Sinclair has said (paraphrased): "silver will make  you rich, but it will drive you crazy along the way".<

I'm long since there.  So my friends won't notice the difference.

Hagarth's picture

Above ground silver...

BS like this really chafes my nuggets.  "There is estimated to be about 1 Billion Oz's of silver above ground."

That is such a blatant lie that I cannot believe anyone with a modicum of knowledge in the Ag market would disseminate propaganda like that.  I spent my own time and effort trying to get a handle on what is really out there in peoples homes, barns, safes, warehouses and every other type of Ag manufactured into trinkets and came up with 5 to 7 times that amount.

Now his premise that 1 billion ounces is above ground must be in ETFs and Warehouses holding industrial ingots. Then he posits maybe a couple hundred thousand ounces for trade outside the industrial processes, okay.  Not coins, smaller denomination bars or silverware and of course not artwork.  Every time I go looking at coins its staggering how many silver coins, ingots and bars are being traded and sold. Go ahead and go through the last 20 years of minted silver coinage in the USA, Canada and Mexico. That is in eye opener.  

If he is correct about the amount of gold in the world I surmise there is an equal amount of above ground silver. 

alan2102's picture

one last thing...

I think that silver has been a tad over-hyped in some quarters  (bix, bro-john, etc.) and has too much get-rich-quick baggage.  Better to think in terms of get-rich-SLOW.  Twelve years. Ten years. Maybe five. MAYBE.

Slow is how this bull is working out. And a good thing, really. SLOWER IS BETTER.

Texas Sandman's picture

Slow is better. But think about the tax man

I will sell my phyzz when the dollar is backed by gold.  That will happen sometime around when pigatha grows wings and starts to fly.

But I think it's worth considering the notion the feds are currently taxing anything that moves, and some that don't (death tax).

I've started to rearrange my affairs, so I look really poor, since the rich are reviled.  They will also likely revile the "hoarders" of gold and silver whom they will say took down the currency.  That Ben Bernanke has been printing so fast we're running out of trees is irrelevant to them.  As we've seen in the last eleection, the american people are pretty stupid & will believe anything the media says.

I'd be ready for them to slap 90 percent taxes on when you sell your phyzz.  That's one reason, sprotts physical funds will be heavily represented in the 401K I'm setting up with my new-found corporation.  They haven't slaughtered companies yet, but I'm sure that's coming too.  They're killing every goose that lays golden eggs they can get their hands on these days.

Puck T. Smith's picture

@old tradesman: "IS THIS

@old tradesman: "IS THIS TRUE"

Well I haven't seen Ben Swann get caught in a lie yet.  He seems to be one of the best investigative journalists in the business.  My respect for him increases every time I see him in action.

Puck T. Smith's picture

@alan2012: "SLOWER IS

@alan2012: "SLOWER IS BETTER"

I agree.  I used to watch the charts all day waiting for the "big move."  These days I might check once or twice a day, if I think about it.  I know I've made the right choice in the long run by turning paper into metal.  I've seen no reason to change my mind.  In the long run, the worst that will happen is that my wealth, such as it is, will have been preserved, and if things go the way I think they will, I already have enough silver to get that little chunk of land I've always dreamed about, even if I'm only able to use it as a nice place to watch the sunsets before I die.

If everything goes well my stack will be depleted right before I die.

Puck T. Smith's picture

In other news

The old IBM Thinkpad I've been using as my main computer is trying to die, so I just refurbished a 7 year old Compaq Presario to dual boot a couple different versions of Linux (Ubuntu and Slackware).  I'm very pleased with the performance.  I recovered the computer from a closet full of junk at work and download the software for free.  My total cost was the price of two writable DVDs and the two or three hours it took to get everything installed.

love Linux...

Live within your means and keep stacking.

I Run Bartertown's picture

Why doesn't Jerome want your daughter armed?

achmachat's picture


Ubuntu is awesome because every time you have a Windows PC, it slowly but surely starts getting slower and slower until it just gets utterly annoying; this doesn't seem to happen whenever Ubuntu is installed as the OS.

and, nice to have a real first name associated with "puck" now :-)

Puck T. Smith's picture

@achmachat: "nice to have a

@achmachat: "nice to have a real first name associated with "puck" now :-)"

Oops. smiley

Green Lantern's picture

I am as red, white and blue

I am as red, white and blue as any other person on this forum.  I take issue as much as any other American to how our goverment's ineptness has allowed Chinese wealth to coopt this country.   The Chinese people haven't had an open election in, ohhhh, 5000 years.  That's a long time not to be able to vote.   I do not want Chinese military or any country hacking into our private institutions of course, NYTimes, Wall Street Journal, Google, FBI, unless of course they expose them for the globalist institution that they are.   However,  I do not want to read propaganda.   Goverments tend to suck especially ones that rule their people with Iron Fists be it Russia, China, Cuba or Haiti.    But to take one picture, probably in a some small remote village or who knows construction site for the sole purpose of denigrating the culture is bullshit.  

There are chinese people on this blog that stack gold and silver and watching the unfolding of this global economic crisis caused by goverments.    They don't put pictures up of burned out detroit, filthy portopotties, graffiti walls, kids walking the streets with their pants hanging below their ass,  obese americans chompin on hot dogs and say this is America.    That's propoganda when showed in no context.

So here is some context. 

China has the fastest most efficient train system in the world.    What would take two days (1200 miles) on our broken down, inefficient Amtrak system takes 8 hours on a clean, efficient run,  train.  Not only the fastest, the most extensive and they continue to expand the system all over China

Our construction industry is sometimes part of government  incompetence.  In NYC, it can take months to complete a simple project such as building a playground, or fixing some infrastructure especially when it's build with goverment funding.  

If you go to youtube you will find construction of major hotels shown in time lapse photography.  Here is a 15 story building that went up in two days. Time lapse.  In case you don't pay attention to such things, what you are watching on this video is INCREDIBLE! There is no comparison here in America.

Shanghai rivals any major American city in terms of luxury whether it be hotels, condominiums, office buildings etc..     Cleanliness and efficiency in many Chinese cities (not all) rivals any American or Canadian city.  Jim Rickards recently visited China and made similar comments.   Here is one Canadian's observation. 

" In terms of general cleanliness, Shanghai (and Hong Kong, too) are probably cleaner than Calgary or other cities in Canada. In HK, if you toss a cigarette butt on the street, you could be in big trouble. It's not that bad here, but Shanghai has battalions of street sweepers with their brooms and big dustpans that are constantly sweeping up everything. I seldom see much debris of any kind anywhere, even on the little side or back streets where foreigners never go. This is a clean city, and Hong Kong sure was as well. Guangzhou maybe not as clean but still not bad. Beijing is the same."

I never encountered a toilet in China that rivals some of the dirty, foul public toilets I find in America.  It seems while China can't seem to put a government that espouses liberty into power, their people know how to go to bathroom in the toilet as opposed to on the seat something American's are seriously bad at.  I'll refrain from showing some of the awful pictures that abound on the web. 

When it comes to street food, America is still in the stone age.  Take it from somebody that likes to eat.  I like what Robert Kiyosaki said when it comes to understanding economic paradigms.   Go to Hong Kong, people work for rice and food.  Go to the United States, people work for Ipods and glow in the dark sneakers.  Go to France and people don't work.  

So stop with the bullshit, biased propaganda.  People come here for good information, exchange, healthy debate and modicum of frivolity.  Not American arrogant bullshit.   Compared to the American population, the Chinese know what's going on and that's why they are buying metals at a quicker rate than narcoleptic Americans.   And if you sat down and spoke with one, you'll find that they are equally suspicious of their leaders as we are ours.  


boatman's picture

there are lies then there are damn lies

from mish:

How do you get from Nominal GDP to Real GDP? You subtract inflation. The Bureau of Economic Analysis (BEA) uses its own GDP deflator for this purpose, which is somewhat different from the BEA's deflator for Personal Consumption Expenditures and quite a bit different from the better-known Bureau of Labor Statistics' inflation gauge, the Consumer Price Index.

The Lower the Deflator, the Higher the GDP

The BEA puts the latest compounded annual percentage change in the GDP deflator (i.e., the inflation rate) at 0.60%.

Interestingly enough, the consensus forecast was for the deflator to come in at 1.6%. Had the deflator indeed come in at the consensus of 1.6%, Real GDP would have been a percent lower at -1.13%. Had the deflator indeed remained unchanged from the previous quarter, today's Q4 real GDP would be two percent lower at -2.21%.

Question of the Day

Let's stop right there and ask: Does anyone out there possibly believe price inflation is a mere .60%?


  • With the GDP deflator (the official measure), the reported GDP was -.14%
  • Using PCE (personal consumption expenditures) as a deflator, GDP would have been -.77%
  • Using CPI (the consumer price index) as a deflator, GDP would have been -1.56%
  • Using ShadowStats CPI as a deflator, GDP would have been -4.3%

the rest at:

opticsguy's picture

30-round mag story

Had a conference call with the manufacturer of many rifle and spotting scopes.  The president said that a high capacity semi-auto like the .223 is the weapon of choice for hunting wild pigs, which are a becoming a huge problem even in Europe.  Wild pigs are the only growth market in hunting, essentially.

From the stories I've heard about hunting wild pigs, 10 rounds may not be enough for one, let alone a pair charging you.  A bolt action isn't going to work, either.  Come on, NRA, use some imagination.

Maybe the west TX posters can corroborate.

opticsguy's picture

@boatman - GDP deflator

If you use Shadowstats inflation numbers, the economy has shrunk almost 30% since 2007, which is about right if you look at auto sales, housing sales, wages, and real unemployment.

Well played, Ben.  You made a Depression look like economic growth.

Bollocks's picture

US a police state...

US a police state, Obama consciously allows torture' – CIA veteran John Kiriakou

"In this post 9/11 atmosphere that we find ourselves in we have been losing our civil liberties incrementally over the last decade to the point where we don’t even realize how much of a police state the United States has become.

Ten years ago the thought of the National Security Agency spying on American citizens and intercepting their emails would have been anathema to Americans and now it’s just a part of normal business."

Very good video interview here:

ClinkinKY's picture

This "grates" on me

Such a sad future
DayStar's picture

RE: US A Police State

Bollocks, the people have sent representative after representative to Washington who claims he will work to fix the problems.  When they get there, they don't do anything.  Now it is obvious both parties work for the same entity, and it is not "the people".  So, short of an insurrection, there is essentially nothing we can do at this point and they can erode all the rights they want.  If we don't like it, we can lump it.


Groaner's picture


If its a good number, then the metals will be hit, if its a bad number the metals will be hit? 

That's awesome, a win win for the Cartel.

The Market seems to think it will be a good number, its bidding up, so that's probably bad, correct?

ClinkinKY's picture

"Mission Accomplished"

AP: Obama shutting down jobs council

posted at 12:01 pm on January 31, 2013 by Ed Morrissey


Remember the Jobs Council that Barack Obama created two years ago?  Stung by the loss of the House in the midterms, Obama attempted to show that he wanted input from the private sector about how to grow the economy.  Two years later, after having won re-election, he no longer needs the political cover:

President Barack Obama will let his jobs council expire this week without renewing its charter, winding down one source of input from the business community even as unemployment remains stubbornly high.

When Obama in January 2011 formed his Council on Jobs and Competitiveness, unemployment was hovering above 9 percent. Two years [as] president later, more than 12 million people in the U.S. are out of work. The unemployment rate has improved to 7.8 percent, but both parties agree that’s still too high.

A provision in Obama’s executive order establishing the council says it sunsets on Thursday. A White House official said the president does not plan to extend it.

Officials said the president always intended for the council to fulfill its mission and then wind down, and said that Obama would continue to actively engage and seek input from business leaders about ways to accelerate job-creation and economic growth. Among the steps Obama plans to pursue are expedited permits for infrastructure projects, the White House said.

It’s not as if Obama gave it much time anyway.  As Erika and Mother Jones pointed out yesterday, the panel hadn’t met in months, and had only met four times in total.

Read more:

audi's picture

Interesting Observation

From Mineweb/Dorothy Kosich ( a summary)

The US Geological Survey just released the USA mineral production in silver.

Total for gold this year (2012) is down slightly to 230 tonnes  from last year's 234.

All the mines in the USA produced 1050 tonnes (33.75 million oz.) of silver. Last year, the production was 1120 tonnes or 36 million oz. Lower production is going to have a severe impact on the USA Mint, as all USA silver goes to the mint first.  With USA minting far in excess of 40 million oz. per year, the mint must import silver either from Canada or Mexico. Since Canada is rationing its silver and also the fact that mints make a huge profit from minting coins, there is doubt that any silver will leave Canada.  Thus Mexico is the only route for these mints, and Mexico is also beginning to add metals to their official resources.


DayStar's picture

RE: 223s and Wild Pigs

OpticsGuy, I have a video that shows hunting wild pigs from a helicopter.  The hunter had a gun that looked like a 223 with an optics system with the gun mounted to shoot out the side of the helicopter.  He hit most every time, and usually one or two shots was enough, even for the big ones.   I don't think making the argument on utility is going to work.  The fact is our basic law says, "Congress shall make no law".  Until they change that, it is the preeminent law, and any attempt to change that by statute or edict is just illegal.  Also, I just can't see how making smaller magazines makes anyone safer.  They used to have guns with just one shot and they killed a lot of folks with those.   Safety is just an excuse to infringe on the "Congress shall make no law".  Guns are meant to kill, and the fact that they can do that to a rogue government is the real problem from their perspective.


opticsguy's picture


The straw man Feinstein, et al, are clinging to is that guns are only needed for hunting, not defense (certainly not against tyranny), ergo 10 shots is all you will ever need.  10 shots is not enough to hunt wild pigs on foot.

Groaner's picture

they are looking for 170,000 additions to payrolls

Has McDonalds opened that many stores? How many Greeters does Wally World need?

dudestacker's picture

an open pit mine filled with blood

P.S. I thought wedges were supposed to violate the sharpest angle line. Goin' out tonight and takin' this chart with me. Maybe it'll get prettier around closin' time.

ivars's picture

I guess NFP were bad? No, the

I guess NFP were bad? No, the unemployment rate INCREASED as more people search for work again. That will happen for a few months now.

For time being, it has played in hands of PMs, now coming to certain fruition:

1) USA GDP was down -0,1%, indicating more difficult fiscal position tax wise (relative to increases reached by Fiscal cliff solution)

2) Debt ceiling was raised by about 450 billion

3) Unemployment increased to 7,9% ( QE is tied to this number)

4) Americans no longer supported by bank insurance scheme are converting quite a lot of USD in PMs.

This shall provide support for some time until sequester/budget  negotiations start in earnest.

Terp's picture

Comex Gold Delivery

02-01 05:32: Comex Gold Delivery Intentions Breakdown - Feb 1

Source: CME Group 
Goldman Sachs & Co. CUSTOMER 248 
Goldman Sachs & Co. HOUSE 159 
Deutache Bank Securities Inc. CUSTOMER 92 
Macquarie Future CUSTOMER 10 
Newedge USA, LLC CUSTOMER 128 
Vision Financial Markets LLC CUSTOMER 6 
CS First Boston HOUSE 51 
RBS Secuities Inc. CUSTOMER 1 
Geldermann Div of Fc Stone LLC CUSTOMER 17 
Timber Hill LLC HOUSE 1 
Merrill Lynch Futures Inc. CUSTOMER 155 
Merrill Lynch Futures Inc. HOUSE 2 
The Bank of Nova Scotia HOUSE 256 
Morgan Stanley & Co. Inc. HOUSE 307 
R.J. O'Brien & Associates, LLC CUSTOMER 8 
Abn Amro Incorporated CUSTOMER 2 
Ubs Securities, LLC CUSTOMER 8 
Rbc Capital Markets Corp. CUSTOMER 23 
Advantage Futures, LLC CUSTOMER 1 
Rosenthal-Collins Group CUSTOMER 4 
Citigroup Global Markets Inc. CUSTOMER 68 
Adm Investor Service, Inc. CUSTOMER 1 
Knight Capital CUSTOMER 5 
TOTAL 1,554 
Jefferies Bache, LLC CUSTOMER 1 
Deutache Bank Securities Inc. HOUSE 757 
Enskilda Futures Limited CUSTOMER 3 
Vision Financial Markets LLC CUSTOMER 1 
HSBC Securities (USA) Inc. HOUSE 564 
J.P. Morgan Futures Inc. CUSTOMER 143 
Abn Amro Incorporated CUSTOMER 9 
Knight Capital CUSTOMER 2 
TOTAL 1,554 
Write to Kathy Lang at 
 (END) Dow Jones Newswires

 February 01, 2013 08:32 ET (13:32 GMT)
 Copyright (c) 2013 Dow Jones & Company, Inc
Terp's picture


02-01 05:31: 08:31 Friday, February 01, 2013
 ( - U.S. Unemployment Rate Rises To 7.9% In January 

For comments and feedback: contact
Copyright(c) 2013 All Rights Reserved
Terp's picture

Comex Final Volumes

02-01 05:33: Comex Globex Final Volumes - Feb 1

For previous business day, in contracts. Source: CME Group 
Gold 171,453 
Silver 59,404 
Copper 84,767 
Write to Linda Rice at 
 (END) Dow Jones Newswires
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