Early the morning of Monday November 11, 2019 you may have seen this so-called “glitch” in the system where silver shot to the moon – almost $6 dollars in a flash. Had it immediately turned around and made a straight line retreat I would’ve agreed that it was, in fact, a “glitch” in the system and something or someone had made a serious error that was corrected immediately. This, however, was not the case.
On the surface one could look at this chart and simply write it off as something of an anomaly, well, it’s an anomaly alright, just not of the usual variety.
There are several pieces of the puzzle that make it very, very unusual. Lets look at each one individually.
The time of markers are all wrong for a “glitch” in the system. If it were a true glitch it would go up and almost immediately come back down. This was not the case at all. As you can see there was approximately 20-30 minutes where the chart sat at $23.50. Why that level? Why not $18 and change or something a little closer to what the chart currently reflects?
That’s a big question for me. Why the delay in response to a major, major problem?
Another question is why did the “glitch” create a straight line up but a crooked line down? These blips in the downward line represent activity. Someone is doing something with the contracts at each level we are pointing out in the chart below. We presume they are benefiting in some manner but, of course, will never, ever know. It sure looks suspicious from where I sit.
And one of the changes just happens to hit perfectly on the $20 mark!! Nothing suspicious about that! The other question mark is raised at the very end of this whole fiasco where one can easily and clearly see lots and lots of activity as the chart is coming back into the previous trading range before this whole thing started. This is a joke.
If this is a “glitch” why was trading allowed to continue and not suspended? Who was in the market during this time and making these trades?
Now, after all this, we learn that silver and gold are reaching lows they haven’t seen in the past few months!!! WOW, the hits just keep coming. Gold hits a brand new 3 month low and silver is hammered to $16.71. I was calling for $19 silver fewer than ten days ago and now this happens?!?! Are we seeing the reason this “glitch” appeared – to provide cover for wiping out contracts on the down side?
There is nothing like the smell of desperation and we see a chart filled with all kinds of questions. It’s a good thing I don’t play around in the casino as this nonsense looks dangerous and it looks like a lot of contracts were blown to shreds.
It’s so much easier to simply visit my favorite local coin dealer or find an online dealer with the best pricing and make a decision that eliminates the this type of shenanigan from my decision making process. All that is required is a decision regarding which coin, bar or medallion to add to the stack!!! The hardest decision I have to make is am I looking for beauty, a low mintage coin or a combination! Got physical, in hand?
