Thursday, April 28, 2011

Vulgar mofos

This explains why Spot Silver hit the skids at mid-day. Zero Hedge reports that the CME instituted a second margin hike in just three days. Today's hike is 10%. Monday's was 9%. I'd like to blame those fuckers for my premature sell today, and though I made a nice profit for a 24-hour trade, I lost a chunk of it when all of today's gains dissipated. (SLV rallied later.)

The good news is CME is probably out of magic bullets tomorrow and Friday. The more they dig, the closer they get to crumbling. I'll have plenty of opportunities to make some money again.


Update Friday, 10:11 pm (Hawaii) In case you missed this earlier, the two margin hikes (9% and 10%) this week by the Comex isn't the end of the blatant crappoli going on. Zerohedge reports that MF Global has raised its silver margin to a rate that is 175% that of the CME's silver margin. MF Global is run by former Goldman Sachs bankster Jon Corzine. 


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