Friday, November 27, 2020

Tag: Bear Stearns Déjà vu?

Bear Stearns Déjà vu?

by Theodore Butler, Silver Seek:

Having traded as high as $1691 in COMEX April gold and $18.92 in March silver on Monday on near-record volume and closing not far from those levels as of the 1:30 PM EST settlements, prices sold off sharply in the always thinly-traded afterhours. As expected, the all too common occurrence drew complaints of market rigging. To be sure, the sudden selloff was deeply suspicious, but the suspected culprits were not surprising when one examines the known data. Those long had nothing to gain by driving prices sharply lower when trading liquidity was at its lowest. The only entities that stood to gain by the sudden selloff were those most short – aka the 7 biggest short sellers.