gold worth watching, page-11

well,it's all so familiar and nothing out of the ordinary.
I'd hate to think what uproar and outrage would be thrown out there if JPM and GS etc copped this.
Anyhow, some US punters' take on the Pre CFTC action:
Profits to all.BMD.


March 19 - Gold $1107.10 down $19.90 - Silver $17.01 down 49 cents

6,000 Contracts Dumped On The Market!

Truth is like the sun. You can shut it out for a time, but it aint goin away. Elvis Presley

GO GATA!

What more need be said? James Mc YESTERDAY:

Bill,
This week so far is right out of the cartel playbook. I went back to the week of February 1st when gold recently followed its 2%, 1%, steady, down pattern. This week is practically a carbon copy. As you can see in the first chart the blue line is the 2% cap, the red line is the 1% cap, and the green line is steady to down. In the second chart you see the 4th day- down hard. The inflow of spec longs is first capped at 2%, then managed for a few days until the cartel can attack frustrated longs and get them to bail. Since the script has held true so far I would not be optimistic about tomorrow.

***

I sent what James Mc wrote to the CFTC. Not long after, RG sent this note to the CFTC:

Subject: Fw: Price Plunge orchestrated from the dumping of 6,000 sell orders

Bart,..
Inquiring with my broker as to what initiated todays almost instantaneous $20 plunge in the price of Gold, he said that one of the Bullion Banks had reputably dumped 6000 sell orders onto the Comex!..

If correct, this is an enormous single sell order and difficult to see as for any other purpose than manipulation in order to lower prices!.. After all there is no way any seller could hope to maximize his price by selling in such a manner!..

I cant help but feel this is something to do with the fact that theres some 50,000 April call and put options due to expire a week today, within the $1,100-$1,150 strike range,.. With contracts equating to the equivalent of circa 160 tonnes of gold at stake, there is a serious interest from a major short or two in seeing the price down below $1,100!..

What a circus the Futures Market has become,.. Please, please, please will the CFTC get a grip of this, as its inevitable outing sometime in the future will make liable fools of all those who were in the knowledge but did nothing to arrest the irregular,..

Any individual stopped out or panicked to sell from todays orchestrated price plunge has been robbed in the same way as a woman mugged of her purse by a crack addict,.. The only difference is that when caught the crack addict must contemplate the error of his ways from a prison cell, whilst a banker does it from the confines of his New York Mansion!..

Yours faithfully,..
Richard Guthrie

James Mc today

Any doubt?

Bill,
Was there any doubt the cartel would apply the icing to their manipulation cake? This is about as sickening as it gets. I personally find it appalling that the CFTC needs to ask for ANY outsiders input to help them spot the manipulation. HELL, thats THEIR job, and its plain as day. It will be interesting to have the hearings going on next week with April gold options expiration at the same time. Maybe the CFTC could have a Comex monitor turned on in the room when youre there for a blow-by-blow account of the nearly certain takedown below $1,100. Maybe you could all then stroll down to the pit and pull tickets for the past week, including today.

Down HARD - mission accomplished
James Mc

Dave from Denver adds to the picture

Heres exactly what happened: the India news hit the tape at 9:48 NY time. If you look at an hourly chart of April gold going back to Tuesday, there were 4 hourly attempts Wed/Thurs to take gold below $1118 but it held all four times. I believe the $1118 probes that held set up sell-stops in the black boxes at that level. Today, if you look at a 1 min chart, youll that almost 35 mins after the India news hits, gold starts to drop in price, then theres a GAP between 1118 and 1116. From there gold went into waterfall mode as the stops between $1117 and $1118 were automatically triggered. Im sure the cartel is livid that $1100 has held - there were several attempts to get it below $1100. Meanwhile the dollar is well below its high of the day right now. This is pure criminal activi ty.

You can be sure that the mainstream gold pundits and reporters will come up with any kind of reason for the plunges in gold and silver today anyone but the real one. Maybe they will go here as a stretch

U.S. Stocks Erase Advance as India Unexpectedly Raises Rates