QUOTE(prophetjul @ May 6 2011, 08:58 AM)
Its not Soros per se.
Its Soros plus the CME in cahoots....
Soros selling his paper Pms and CME announcing margins hike after hike ESPECIALLY for SILVER???
What? How many hikes in the last week alone?
In fact CMe already anniuced a hike for May 9???? Whats this?
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HONG KONG (MarketWatch) - Silver prices were on track for their fifth straight day of losses on Thursday, dropping 1.7% from the close of regular U.S. trading. The drop came after the main U.S. metals exchange announced further hikes to margin requirements, effectively lifting the deposit investors must put down to trade silver futures 33% by the close of trade on Monday. July silver /quotes/comstock/21e!f1:si\n11 SIN11 -4.18% fell 68 U.S. cents, or 1.7%, to $38.72 per troy ounce in late afternoon trade in East Asia, on the Comex division of the New York Mercantile Exchange, according to FactSet. The declines followed an announcement by CME Group Ltd. late Wednesday that initial margin requirements for silver were increased to $21,600 per futures contract, from $16,200 per contract, after May 9. Maintenance margins will rise to $14,000 from $12,000. CME said the margin increase would rise in steps, with the first to come into effect on the close of trade Thursday. That change will boost the margin on the 5,000-ounce silver futures contract to $18,900 from $16,000. The changes amount to an 84% increase in margin requirements in two weeks, spread over four separate changes.
Smells of a great conspiracy does it not?
Added on May 6, 2011, 9:03 amRemember the last time Soros said Gold will be ultimate bubble?
hes rite!
He bought..... o)
There is also that Carlos Slim (World Richest Man) selling Silver futures from his mine. Basically he is locking down the expensive Silver price for future delivery. Damn sneaky... now that this has gone public, the "deleveraging" process couple with 3x increase in margin requirement is causing the dominoes falling effect in the world market.
Added on May 6, 2011, 8:59 pmFriday: US monthly jobs data came in better than expected.
Non-farm: up 244k, Private sector: up 268k
UE rate for April: 9.0% vs 8.8% (Mar)
Futures up!
Overall UE percentage still ticks up because of govt jobs going down and a lot more people entering the jobs market.
This actually good.. so general market should bounce back.
Commodities sell off should subside but not sure about bouncing back yet.
Oil should below $100, this should boost stocks esp the transportation.
Update: 9:15pm
Looks like SLV is moving back up pre-market. I'm going to take a shot at this.
Closing update:Dow 12638.74
+54.57 +0.43%Nasdaq 2827.56
+12.84 +0.46%S&P500 1340.20
+5.10 +0.38%SLV: 34.48 Up
0.76 (2.25%)AGQ: 186.56 Up
7.22 (4.03%)Silver ETFs bounced back a little from the demise.. but not out of the woods yet. Got to watch this carefully!
Oil 98.19
-1.61 -1.61%Oil finally retreated and close below $100 for this week.
This post has been edited by danmooncake: May 7 2011, 04:52 AM 
May 5 2011, 09:23 AM
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