High Frequency Trading Footprint In Overnight Silver Clearly Visible
TND Exclusive: Eric Dubin |
Looking at Kitco’s 72 hour spot silver chart, it’s quite easy to see the pattern of high frequency trading batting silver back and fourth like a ping-pong ball in a tight band prior to the opening of the New York session. This example is so “textbook” picture perfect, it was worth writing a quick update to bird-dog the example.
Compare that with the lack of a tight band visible during the “green” New York session above. Today’s shift in the silver trade to a more horizontal trading pattern following the New York open most likely represents the entry of enough human traders to drown out the impact of algorithm-dominated Asian and London trading sessions earlier today. Another takeaway from the chart: the cartel is having a harder time suppressing silver right now, what with the recent awakening of physical silver demand even coming to America (e.g., surprise suspension of American Silver Eagle sales by the US Mint, etc.).
Meanwhile…
Gold saw similar action, but halfway through the London session HFT-driven trade is not as easily visible, and once past that inflection point midway through London trading, it appears the cartel was able to break the market with the help of the early morning session HFT-driven trade.
Silver is seeing a “managed retreat” by the cartel because currently, there’s very strong bottom-fishing buying in the shiny metal. Ironically enough, over the last few years silver and the mining shares would often see weakness a day or two in advance of gold anytime downside pressure manifested in the sector. Whistleblower Andrew Maguire has referred to this as the “silver signal.” But today, there’s just too much buying interest in silver and the cartel is instead focusing on urinating all over the mining shares and to a lesser extent, pushing gold down. Despite silver holding up well during COMEX trading, silver mining shares are being taken behind the woodshed for a 5 to 10 percent beating across almost all silver mining stocks.
To borrow a phrase from David Morgan, the cartel is attempting to “wear you out and scare you out.” Just another day…
Source: http://thenewsdoctors.com/high-frequency-trading-footprint-in-overnight-silver-clearly-visible/
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