electroweak Posted November 9, 2010 Report Share Posted November 9, 2010 http://www.zerohedge.com/article/pm-sellof...ilver-5000-6500 "CME confirmed silver margins raised from $5000 to $6500 (30%) effective 11/10 settl - no other metals affected" Presumably, this affects the maintenance margin. And is a lovely way to kill paper longs.... but not shorts, of course. This is also the last remaining self-regulating way for the market to tell the genocidal lunatic in the Eccles building to go fornicate himself, and his excess liquidity. more info: http://www.cnbc.com/id/40095040 The reason cited for the increase was a “…normal review of market volatility to ensure adequate collateral coverage…” Michael Shore, a spokesman for the CME, said the exchange evaluates margins from time to time and they often change—nothing unusual. New Tier 1 “Spec” Positions will require an initial margin of $8,775, up from $6,750 currently. New “maintenance” margin calls for those positions will rise to $6,500 from $5,000 currently. Margins on Tier 2 and 3 “Hedge/Member” Positions will go from $5,000 to $6,500 for both new “initial” positions and also, for ongoing “maintenance” margin calls. Margins on e-mini silver futures have also gone up across the board, from $1,350 to $1,755 for “initial” positions for “Spec” traders and from $1,000 to $1,300 for “Hedge/ Member” positions. “Maintenance” margin calls for all have gone up 30% from $1,000 to $1,300. Link to comment Share on other sites More sharing options...
rpitwood Posted November 9, 2010 Report Share Posted November 9, 2010 Copy silver or a copy of a $20 coin? http://cgi.ebay.co.uk/1TROY-OZ-FINE-SILVER...60#ht_500wt_949 22 mins, £12.40 + £1.50pp Bingo. £16. Yay for me. Link to comment Share on other sites More sharing options...
rpitwood Posted November 9, 2010 Report Share Posted November 9, 2010 "CME confirmed silver margins raised" Can someone please explain what this actually means? Thanks! Link to comment Share on other sites More sharing options...
Perishabull Posted November 9, 2010 Report Share Posted November 9, 2010 "CME confirmed silver margins raised" Can someone please explain what this actually means? Thanks! If you want to buy a futures contract you have to put down an initial deposit in order to initiate the trade. The deposit is called margin in industry parlance. So whereas the previous deposit was $5000, it has been increased to $6500. This ties up more working capital of those that are trading, and can have a dampening effect on prices and volume. Interestingly enough I was considering buying a mini future contract in silver just before it took a tumble today. I don't normally trade futures and I sure am glad I didn't make a special exception this time! Just when it started to look like a penalty kick with no goalkeeper... Link to comment Share on other sites More sharing options...
Icarus Posted November 9, 2010 Report Share Posted November 9, 2010 "CME confirmed silver margins raised" Can someone please explain what this actually means? Thanks! It's an admission of defeat. Link to comment Share on other sites More sharing options...
chazza Posted November 9, 2010 Report Share Posted November 9, 2010 If you want to buy a futures contract you have to put down an initial deposit in order to initiate the trade. The deposit is called margin in industry parlance. So whereas the previous deposit was $5000, it has been increased to $6500. This ties up more working capital of those that are trading, and can have a dampening effect on prices and volume. Interestingly enough I was considering buying a mini future contract in silver just before it took a tumble today. I don't normally trade futures and I sure am glad I didn't make a special exception this time! Just when it started to look like a penalty kick with no goalkeeper... Probably a stupid question. What system would you trade that over? Link to comment Share on other sites More sharing options...
chazza Posted November 9, 2010 Report Share Posted November 9, 2010 Three naked silver shorts that were recently spotted in the neighbourhood. The lower pumpkin is the best I've seen. Can't believe I will have to wait a year now to impress my kids by passing it off as my own idea. Link to comment Share on other sites More sharing options...
Bosworth Posted November 9, 2010 Report Share Posted November 9, 2010 I make that about an 8% swing over the trading day. Pretty volatile! Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 9, 2010 Report Share Posted November 9, 2010 I make that about an 8% swing over the trading day. Pretty volatile! This is for gold only, but it has been pretty calm recently. http://gold.approximity.com/since1968/Gold_USD_AMAM.html Link to comment Share on other sites More sharing options...
Icarus Posted November 10, 2010 Report Share Posted November 10, 2010 I make that about an 8% swing over the trading day. Pretty volatile! The market set the price of silver at around $30 per ounce. The comex then manipulated the price down. There can be no arguments. This was open interference with price discovery. Can you imagine the outcry if this was done to key stocks? But I don't think it will work this time. The huge number of naked shorts shows us that the price rises were not caused by a credit fueled bubble. No, this has all the hallmarks of a short squeeze. In fact it looks like it could turn out to be the mother of all short squeezes. Link to comment Share on other sites More sharing options...
Concrete Jungle Posted November 10, 2010 Report Share Posted November 10, 2010 Silver has clawed back about half of yesterdays smackdown already! Link to comment Share on other sites More sharing options...
aardvark Posted November 10, 2010 Report Share Posted November 10, 2010 Hi Guys, Just a quickie, what are your thoughts on these please. http://cgi.ebay.co.uk/SILVER-BULLION-BARS-...=item4aa5f84b8c They don't seem to be attracting much interest with only 2 hrs to go... JL i've seen these sort of bars before and they are always fake - avoid stuff like this from china. Link to comment Share on other sites More sharing options...
Concrete Jungle Posted November 10, 2010 Report Share Posted November 10, 2010 i've seen these sort of bars before and they are always fake - avoid stuff like this from china. A bit of info for GEI on fake silver, ebay and China. http://www.china-mint.info/fake-coin-images.html http://www.china-mint.info/fakechinesecoinsellers.html http://chinese-coins.blogspot.com/2009/01/...-with-only.html Finally images of fake bars can be seen at http://about.ag/LeadFilled100OunceBars.htm Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 10, 2010 Report Share Posted November 10, 2010 A comparison on a 2-year chart. Link to comment Share on other sites More sharing options...
Perishabull Posted November 10, 2010 Report Share Posted November 10, 2010 A comparison on a 2-year chart. Have you got a recent CPI adjusted price of silver chart? Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 10, 2010 Report Share Posted November 10, 2010 Have you got a recent CPI adjusted price of silver chart? Sure. How far back do you want it? It wouldn't change the lower of the two charts by much, BTW. Link to comment Share on other sites More sharing options...
Bosworth Posted November 10, 2010 Report Share Posted November 10, 2010 Just bought another £10k of silver. Guaranteed for the rocket to turn into Challenger Link to comment Share on other sites More sharing options...
Jake Posted November 11, 2010 Report Share Posted November 11, 2010 Just bought another £10k of silver. Guaranteed for the rocket to turn into Challenger In time I am sure you will feel fine about your purchase. I would prefer to see if we don't have a correction around these levels. Maybe average the 10K in over a few weeks?? I think silver is more like the Big Dipper rather than Challenger. Pick your moments and you won't end up puking up. Still the overall direction is upwards, I hope... Link to comment Share on other sites More sharing options...
huntergatherer Posted November 11, 2010 Report Share Posted November 11, 2010 Just bought another £10k of silver. Guaranteed for the rocket to turn into Challenger I put a large amount in ag averaged around $16 and saw it fall to $8.40. Link to comment Share on other sites More sharing options...
huntergatherer Posted November 11, 2010 Report Share Posted November 11, 2010 I put a large amount in ag averaged around $16 and saw it fall to $8.40. But I also bought a large amount (50% of above purchase) at $8.81. Link to comment Share on other sites More sharing options...
Jake Posted November 12, 2010 Report Share Posted November 12, 2010 In time I am sure you will feel fine about your purchase. I would prefer to see if we don't have a correction around these levels. Maybe average the 10K in over a few weeks?? I think silver is more like the Big Dipper rather than Challenger. Pick your moments and you won't end up puking up. Still the overall direction is upwards, I hope... I'm also not interested in selling for at least 10 years but I might exchange some for gold along the way! Link to comment Share on other sites More sharing options...
Bosworth Posted November 13, 2010 Report Share Posted November 13, 2010 In time I am sure you will feel fine about your purchase. I would prefer to see if we don't have a correction around these levels. Maybe average the 10K in over a few weeks?? I think silver is more like the Big Dipper rather than Challenger. Pick your moments and you won't end up puking up. Still the overall direction is upwards, I hope... £10k WAS my averaging in Anyways, my personal contrary indicator is working fine. A healthy 6% off since purchase! Link to comment Share on other sites More sharing options...
Jake Posted November 13, 2010 Report Share Posted November 13, 2010 £10k WAS my averaging in Blimey! Obviously we are in different leagues! I haven't had that kind of money to average in for a long time. Link to comment Share on other sites More sharing options...
Jake Posted November 13, 2010 Report Share Posted November 13, 2010 Blimey! Obviously we are in different leagues! I haven't had that kind of money to average in for a long time. Wow! Despite recent fall in silver I just popped over to CID for a look around and 1Kg coins are 689 quid tax incl!! Used to be 245 a few years ago. Ho hum... Link to comment Share on other sites More sharing options...
Bosworth Posted November 13, 2010 Report Share Posted November 13, 2010 Wow! Despite recent fall in silver I just popped over to CID for a look around and 1Kg coins are 689 quid tax incl!! Used to be 245 a few years ago. Ho hum... It's interesting. There does seem to be an increasing premium for physical (both gold and silver). Unclear if this is a supply fundamental or just profiteering. I guess time will tell. Link to comment Share on other sites More sharing options...
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