Looking at the Kitco Spot Chart (http://www.kitco.com/charts/livesilver.html) I see that the prices always go up (now by 10-20 cents) at about 8:00, when NY NYMEX opens. Why is that? They have more money than anybody else?
Why the prices always go up at 08:00 (NY Time)?
- Thread starter Cheepo
- Start date
Morning wood?
Cheepo said:
Here is the greatest statistic evidence I have ever seen. It was something that I saw since 2003 but when Adrian's analysis came out, it blew me away.
Adrian died, I don't know under what circumstances, RIP. I did find it very strange when coupled with the caliber of stat evidence the man put together. Leaves everyone thinking the worst, guess the big boys play for keeps and may not have like the analysis. It's top notch.
But to many who claimed there was no manipulation, this statistical analysis did the trick.
The markets are rigged and here's the analysis:
http://www.gata.org/files/AdrianDouglasGoldMarketRigged-08-14-2010.doc
This phenomenon may have something to do with the fact that many investors place their buy/sell orders overnight, or earlier in the morning.
The orders can not actually be processed until the market opens, so that might account for the sudden market moves at the begining of the trading day.
There is also a small bit of movement for a few minutes after the markets close, as last minute transactions are processed.
The orders can not actually be processed until the market opens, so that might account for the sudden market moves at the begining of the trading day.
There is also a small bit of movement for a few minutes after the markets close, as last minute transactions are processed.
Miloman said:
I clicked on Cheepo's link and just get the standard 24 hour kitco chart
I clicked on your link which is about the gold fix being rigged - which I would agree with anyway
Where are the stats of what happens in the first 10 mins of trading at 8am every day ?
I remember many days when the gold price was going up and then got whacked DOWN at the 8am open in NY so just asking over what time period Cheepo observed to make this conclusion
Cincinnati
New Member
It's right before the American market opens. The traders speculate, then it evens out, then they actually trade. High volume early then lower volume throughout the day. Easier to move. I have no idea what I'm talking about but it seems common sense.
trew said:
I am not sure about 8am as an exact specific time, the stats are specific about the trading times specifically about different open times which is the same phenomena that Cheepo is talking about. Now within those daily time periods we do see "the fix" and large chunk of trades that occur. Cheepo has noticed that this movement does occur within the specific timeframe of the blatant statistical "manipulation. So I posted confirmation of his wider observation and how far reaching it actually is.