Comex showdown tomorrow (Wed 11-25)

JayTeeStackin

JayTeeStackin

New Member
What's going to happen with silver tomorrow (Wednesday 11-25) when the Comex has to cough up a historical record amount of silver tomorrow to those standing & demanding delivery?? I'm sure they will try to monkey hammer it down as much as possible in the off hours tonight/tomorrow morning. Could be huge buying opportunity.
 
Let them worry about the shortfall, and in the meantime keep calm and stack on.
I'm just waiting for my credit card to arrive so I can load up on some interest free silver :D
 
Also the dollar is tanking right now, with the DXY down to 92.15 as I write this. Normally this would be rocket fuel for the metals.
So obvious this metal slam is artificial.
The Comex is trying to wash out the weak hands to force them to sell and drop the price. Stay strong and hold your metals!
 
LOL what does comex have to do with staying strong or not for the average stacker?

Besides when has Comex ever missed delivery other than when there was a transportation strike.

If there was ever a time a trader ever missed delivery date and defaulted it would be on the news on all the metal forums, with verifable videos of interviews with faces and names named and thousands of articles in mainstream and metal press.

Not just "rumours"
 
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As of this morning there was 43,000 open silver contracts which is 3 times greater than the last July. Those contracts are 5,000 ounces each. That equals over 200 million ounces. Not all will stand for delivery but if just half of the contract holders do then the Comex is absolutely effed.
Try to find a million real physical silver ounces.
It IS INDEED different this time.
 
JayTeeStackin said:
As of this morning there was 43,000 open silver contracts which is 3 times greater than the last July. Those contracts are 5,000 ounces each. That equals over 200 million ounces. Not all will stand for delivery but if just half of the contract holders do then the Comex is absolutely effed.
Try to find a million real physical silver ounces.
It IS INDEED different this time.
Click to expand...

It is about 6220 tons of silver = 200 million ounces (if all needed to be delivered) why would that be hard (barring maybe logitics/transportation covid delays that can be negotiated) ?

Last year annual output of mined silver (not recycled) amounted to 27,000 metric tons, likely much more with recycled.

Be it half or all doesnt seem like it is impossible
 
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True but alot of that 27 metric tons are not even close to being 'readily available' they are used in industry or sitting in some ones needed inventory for industrial product or stackers holding and not letting go.
Covid has also put the clamps on some production this year.
I'm not saying that silver will rocket to $80 an ounce or drop to $8 an ounce.
Just saying that the Comex has a huge part in manipulating the metal prices and are facing probable and historically 'off the charts' physical demand tomorrow and they could be headed for some very deep sh*t!
Could be a nothing burger but I highly doubt it.
 
JayTeeStackin said:
True but alot of that 27 metric tons are not even close to being 'readily available' they are used in industry or sitting in some ones needed inventory for industrial product or stackers holding and not letting go.
Covid has also put the clamps on some production this year.
I'm not saying that silver will rocket to $80 an ounce or drop to $8 an ounce.
Just saying that the Comex has a huge part in manipulating the metal prices and are facing probable and historically 'off the charts' physical demand tomorrow and they could be headed for some very deep sh*t!
Could be a nothing burger but I highly doubt it.
Click to expand...


Why do you say Comex is manupulating, when the trades are done by traders ie buyer and sellers of contract are not Comex.

My understanding of Comex is that they are not allowed to trade but they make their money by providing an exchange and escrow assets.

For example.
Trader A sells 10 gold contracts at $1500 strike for December
Trader B buys 10 gold contracts and "wants" physical delivery,....
Comex delivers 1000 ounces of gold and charges spot for 10 contracts of Gold from Trader A's broker.

If the Trader B doesnt want physical gold than buyer gets paid in cash.


The what if.....

If Trader A cant settle in cash Trader B will demand physical and Comex delivers.

Comex will get paid by the Broker.

If Trader A becomes bankrupt it is the Broker holding the bag not comex.

If Traders A Broker defaults than Comex holds the bag but are insured but the chances of all the extraordinary events ocurring are miniscule, especially considering all brokers put limits on what thier platform users can do. For example we couldnt join a broker and write 10,000,000 contracts for Feb
 
Contracts will be settled.
Then the realists will yawn ......again.
And all the wishful excitement will be forgotten about by the week end. ;)
 
Ipv6Ready said:
Why do you say Comex is manupulating, when the trades are done by traders ie buyer and sellers of contract are not Comex.

My understanding of Comex is that they are not allowed to trade but they make their money by providing an exchange and escrow assets.
Click to expand...
You are correct Ipv.
However, for a conspiracy theory to be any good, you first need to conjure up an evil cartel.......
 
JayTeeStackin said:
As of this morning there was 43,000 open silver contracts which is 3 times greater than the last July. Those contracts are 5,000 ounces each. That equals over 200 million ounces. Not all will stand for delivery but if just half of the contract holders do then the Comex is absolutely effed.
Try to find a million real physical silver ounces.
It IS INDEED different this time.
Click to expand...
This is so misleading it needs a Twitter factcheck label applied to it.
How many Nov contracts ended up delivering?
 
I'm a bit surprised of the surprise that precious metals are manipulated. Especially as of late with all the hefty fines being issued because of precious metal manipulation. These are household names paying hefty fines. JP Morgan, Merrill Lynch, etc. There are so many articles and fact findings about the manipulation. I'm sure some are hyped up but when fines are issued in hundreds of millions of dollars I would find it hard to believe that it's just a myth or conspiracy.
 
Here's just a small quick example article. I'm certainly not saying the sky is falling but it will be very interesting to see how this possible clash of PM demand and actual supply works out in the next few days.
Here's the article snip:

"There is probably no other topic in the gold and silver markets which incites heated debate more than the subject of precious metals price manipulation.

That prices in the precious metals markets are manipulated is not speculation, it is fact, a fact made clear again recently by the Commodity Futures and Trading Commission´s (CFTC) ruling against investment bank Merrill Lynch Commodities Inc (MLCI) for spoofing pricing of gold and silver futures contracts on the COMEX exchange.

The number of investigations, legal cases, class actions and financial headlines involving precious metals manipulation are now so pervasive that it’s hard to keep track of which cases are in motion and which investment banks are under scrutiny at any given time."
 
JayTeeStackin said:
Here's just a small quick example article. I'm certainly not saying the sky is falling but it will be very interesting to see how this possible clash of PM demand and actual supply works out in the next few days.
Here's the article snip:

"There is probably no other topic in the gold and silver markets which incites heated debate more than the subject of precious metals price manipulation.

That prices in the precious metals markets are manipulated is not speculation, it is fact, a fact made clear again recently by the Commodity Futures and Trading Commission´s (CFTC) ruling against investment bank Merrill Lynch Commodities Inc (MLCI) for spoofing pricing of gold and silver futures contracts on the COMEX exchange.

The number of investigations, legal cases, class actions and financial headlines involving precious metals manipulation are now so pervasive that it’s hard to keep track of which cases are in motion and which investment banks are under scrutiny at any given time."
Click to expand...
Spoofing =/ Manipulation
 
What's the COMEX angle again? I've seen COMEX come up now and again with some kind of conspiracy theory. The idea is that they don't hold enough silver? Or they manipulate the price somehow? The inventory issue is strange to me – I assume the COMEX users or traders would be the ones who would know, and decide if there was a problem. By default, I wouldn't have any reason to care about some business that I don't have a relationship with.

It reminds me of conspiracy theories about Fort Knox not having all the gold it's supposed to, or the Fed's depository in New York. I've never dug into any of that. Maybe I should, but I care less about COMEX since it's a private business.

So nothing happened today with COMEX? They were supposed to be short of silver?
 
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