Sunday, May 1, 2011

Silver Down Almost 9% In Sunday Evening Trading

Silver is getting hammered lower right now as the U.S. Markets are closed on this Sunday evening.  Silver has traded as low as $42.17 after closing just shy of its all time high of $50.00 last week.  This has all of the classic looks of a bear raid by JP Morgan Chase who is the biggest silver manipulator in the market.  I for one will be buying the Fu**ing dip on Monday morning if I am lucky enough to have these prices last that long.

I've been looking for a good pullback to add to my physical silver holdings as the big banks like JPM sell boatloads of unbacked paper silver into the market in order to manipulate prices lower.

Like Jim Sinclair said recently, by the time silver is at $75 and gold is at $2000, there will be no more margin requirements as the market will move to all cash.

BTFD and crash JP Morgan.