Paper market problems?

[Unbeatable]

Just read some comments on ZH about some big fluctuations in the paper price going on and gor linked to this article on SD.

http://www.silverdoctors.com/gold-silver-flash-smash-on-globex-open-erase-all-of-comex-losses/

All h*ll appears to have broken loose in the electronic paper metals market overnight Thursday and into Friday, as numerous live metals feeds are fluctuating in price by more than $1 in silver, and several metals dealers are reportedly refusing to make any sales as they have no idea what the current price of silver is.

 

[pmbug]

When dealers can't hedge their transactions (with confidence), they can't do business.

 

[Unbeatable]

Im going to call a full paper market collapse for silver in next 21 days...

I just think too many big deposits around searching for a new home and market was already tight after record breaking demand even before Cyprus happened.

$100 silver less than 60 days

 

[stockjockee]

I think its a great time to load up on precious metals. Think about what just happened in Cyprus, the Comex expiry last Monday and its the beginning of the 2nd quarter (the first quarter charts have been painted). The only thing that gives me some pause is the friggen POMO infux into the market by Bennie and the ink jets to the tune of $5 Billion dollars a day. 5000 million a day can manipulate alot of market.

Load the boat ! :wave:

 

[superhero]

Im going to call a full paper market collapse for silver in next 21 days...

I just think too many big deposits around searching for a new home and market was already tight after record breaking demand even before Cyprus happened.

$100 silver less than 60 days

Nice call on paper collapse.

I stubbornly held onto a bit of SLV and GLD both in my brokerage and my parent's account (I manage some of their retirement funds). Liquidated all paper this morning. I know you're supposed to sell when it goes up, and buy when it goes down, but I consider this cleaning house.

Only physical for myself from now own.

 

[ancona]

So, you converted paper in to phyz? I like the idea that if you cannot hold it, you do not own it. Nothing brings that idea home more than MF Global and the missing bullion from fully allocated accounts.

 

[superhero]

So, you converted paper in to phyz? I like the idea that if you cannot hold it, you do not own it. Nothing brings that idea home more than MF Global and the missing bullion from fully allocated accounts.

Sold the paper. But haven't bought physical yet. Figured the paper markets are closed, and there's all weekend to buy physical.

I had $5000, oops, I meant $4500 in paper. Figure that'll pay for a new fence and a few more Sovereigns.