Remember those threads about sudden spikes in gold that "prove" manipulation..
cohodk
Posts: 19,133 ✭✭✭✭✭
....manipulation to "enrich the banksters" and steal from the sheeple (J6P).
Well, here is tonight's copper chart. Look at that 10% move in an hour. Imagine the furor if this was the silver chart. Oh what an uproar there would be. Conspiracy theories running rampant.
Well, here is tonight's copper chart. Look at that 10% move in an hour. Imagine the furor if this was the silver chart. Oh what an uproar there would be. Conspiracy theories running rampant.
Excuses are tools of the ignorant
Knowledge is the enemy of fear
0
Comments
There have been 20c daily spikes upwards in copper so 20c down in one shot isn't exactly out of the question. A 7% drop in 24 hrs. Silver did 13.5% in one day back on April 15th 2013....and 20% over 3 days. Been there done that (and three times in the past 3 years). Yeah, I agree that in all these cases it is manipulation. If one looks at the timing and volume when these hits occur, it can't be anything else but manipulation. But, isn't that what trading is, who's computer can out-gun the next guy's HFT? The bounce back to $3.30 on Cohodk's copper graph doesn't show up on Finviz.com 5 min to daily charts. Looks like copper has been under pressure since that gap down on February 27th (3rd or C wave acceleration downward.....not particularly a bullish omen for the stock market in general).
Fairly steady 24 hour decline in copper hitting $3.00 key round number support ....down 8 cents since Friday's close.
and with me just buying a pound of the stuff. I'm ruined, kaput!
Damn manipulation! just another example of the 1% getting richer off my middle class gig.
Liberty: Parent of Science & Industry
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Might not be good for our picks in Wingsrule's contest though.
Knowledge is the enemy of fear
Got Rearden Metal?
Liberty: Parent of Science & Industry
Loves me some shiny!
<< <i>as copper is a forward economic indicator...time to short the markets??? >>
Copper is down 30% since 2011 while the SP-500 is up 45% during that time. I'd say it is not a very good predictor of the market.
Knowledge is the enemy of fear
mine says it is about time to dive....it's Triple Lindy time!
Loves me some shiny!
<< <i>charts...tarts...go with the voice inside
mine says it is about time to dive....it's Triple Lindy time! >>
Triple Lindy, what a pull. I think the guy that directed that movie died recently. For some reason at the time of his death all the headlines seemed to mention Ghostbusters but not all his other great ones, many better then Ghostbusters.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
<< <i>This is no laughing matter to a guy who's invested in a boatload of these beauties.
wow... that takes the cake, my condolences...
<< <i>charts...tarts...go with the voice inside
mine says it is about time to dive....it's Triple Lindy time! >>
lol... might as well burn your $$$... chart looks like a downhill ski run just about ready to go over a cliff....
and with me just buying a pound of the stuff. I'm ruined, kaput!
Just be thankful that you didn't buy two pounds at those prices.
Did you sell at the bottom and take a loss? No? I didn't think so. All you have to do is "hold on" for the next 25 years and you'll be able to sell to your kids at inflated prices.
Better yet, DOUBLE UP NOW! You could be twice as screwed by next week.
I knew it would happen.