Thank you CME Group

bendix

Thank you CME Group. I'm sure it wasnt your intention when you raised margin requirements on silver trading for the third time in a week, but all of MSE owes you a huge debt of gratitude for one of the unintended consequences of that action:

You've finally shut the silver freaks on this forum up. Unequivocably. At last. Hiding and skulking and no longer posting nonsense that the silver rally was nothing to do with speculation and everything to do with fundamentals.

Where is jpmorgue this week? Has anyone seen him? How above padington or smeagold's alter ego, Collectors Coach?

Perhaps they've all gone on holiday at the same time. If so, that's quite a coincidence.

In fact, it's almost as much of a coincidence as the price of silver falling from $49.84 to $41.25 (which, sans calculator, looks like a 18-20% fall) at precisely the same time as CME undertook those three increases.

Jonbvn

But we all know that PM's are a "no-risk" investment!


My a$$!

Loopgames

Lol- the same thing happened in November when it fell from $950 /kilo to $812 /kilo...

It's great opportunity - always buy in the dip.

Also it's risen over 100% since November - a dip of 16% is not exactly a crash !!!

Still the joe-public doesn't get it. Inflation is eating into our pockets and you guys don't think cash is a big risk!!! oh dear:eek:

Jonbvn

Loopgames wrote: »

Still the joe-public doesn't get it. Inflation is eating into our pockets and you guys don't think cash is a big risk!!! oh dear

Who said I'm holding cash?? I'm doing nicely with my S&S portfolio thank you very much.

Loopgames

Jonbvn wrote: »

Who said I'm holding cash?? I'm doing nicely with my S&S portfolio thank you very much.

You're very welcome.

purch

As I pointed out last week, the CME changed margin requirements on 110 different contracts, not just SI.

The sole reason for this is to reflect greater or lesser risks due to volatility or lack of.



I think you may find that certain posters have been "banned" and their threads removed, so don't be surprised if they return with new monikers.

Reaper

I seem to remember Padington and others rolling around on the floor laughing when I suggested shorting silver. Though to be fair I thought it still had a few more months of growth left before going belly up.

I also expect a dead cat bounce from all the silver bugs keen to "buy in the dips".

There is a better case for gold in my opinion, though it seems to get only a fraction of the coverage.

bendix

Loopgames wrote: »

Lol- the same thing happened in November when it fell from $950 /kilo to $812 /kilo...

It's great opportunity - always buy in the dip.

Also it's risen over 100% since November - a dip of 16% is not exactly a crash !!!

Still the joe-public doesn't get it. Inflation is eating into our pockets and you guys don't think cash is a big risk!!! oh dear:eek:

How embarassing for you, on so many levels. First of all, very disingenuous of you to suddenly move from measuring in kilos suddenly rather than ounces. But it doesnt hide the fact that the November decline was much much lower than this decline.

More importantly, this fall is SOLELY about the sudden exit of speculative demand and it totally refutes the arguments espoused here about how robust the industrial demand is.

I'm watching CNBC . . still heading lower and now around $39.3. Was it really just five trading days ago that you guys were crowing about it reaching $49.8?

PS . . Soros is selling . .

purch

The problem is, this will only reinforce the totally ludicrous conspiracy theories about how the price of Silver is being suppressed.

The fact that there were 110 different contracts with margin changes on the CME recently will be lost in the outcry.

They put the margins up to reflect the higher risks brought about by the increased volatility, and the result was that a lot of the "hot money" was withdrawn from the market.

I doubt whether zeronumpty, or kingworldmadeupstuff will see it that way :eek:

Loughton_Monkey

.... I'm forever blowing bubbles......

bendix wrote: »

In fact, it's almost as much of a coincidence as the price of silver falling from $49.84 to $41.25 (which, sans calculator, looks like a 18-20% fall) at precisely the same time as CME undertook those three increases.

You should really get a calculator, Bendix. One of those little solar powered jobbies.... Apparently (according to some of the posts) they can't make solar panels without silver. Every little helps! Must show a little sympathy to these guys, even if they are busy trying to sell as quickly as they can...

Loopgames

Well there's another margin hike - 4th one in 8 days.