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 Replies: 15 / Views: 1,144 |
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Valued Member
United States
151 Posts |
Down to below 1680 and back up to 1727 in a moment.
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Valued Member
United States
103 Posts |
No doubt to drag people beyond their stop losses triggering them to sell at a more substantial loss, only to bounce it back up afterthe execution.
Jmo
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Valued Member
United States
103 Posts |
Oh and hitting the back button on the phone caused me to rouble post...sorry
Edited by lukemarshall
02/08/2013 12:12 pm
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Pillar of the Community
United States
2543 Posts |
When I unloaded that $1,000,000 worth of platinum this morning the broker assured me it wouldn't affect the market price.  Had to be a glitch, I have bottom line alarms on my Kitco app at $1680 couldn't believe what I saw and just as fast back to normal. Had to be a glitch that was quickly corrected |
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Valued Member
United States
292 Posts |
What happened to those with a sell at or around $1680?
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Pillar of the Community
United States
2543 Posts |
It opened at 1717, I doubt too many people had a computerized sale based on a $37 drop.
Kitco has already eliminated the drop from their daily chart.
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Pillar of the Community
United States
1200 Posts |
This seems to happen every now and then with the Kitco charts. I happened to be putting together an online order on 11/26/2012 when the they did a major nosedive/recovery event. It caught me unaware and by the time I figured out what was happening, the charts had "recovered" and I wasn't able to get the benefit of the bottomed-out price in my order. I got so bent out of shape that I did a thread about it. See https://goccf.com/t/134771&SearchTe...iracy,theory to read my howling, ranting and crying about it. Similar to the one you caught, Kitco "disappeared" that event off off their historical charts. |
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Valued Member
 United States
151 Posts |
@Fat Freddy - Yes, I remember that at the time, and we discussed it then. I had the same "Wha?" feeling again today when I saw the bottom *appear* to fall out from under Pt LOL
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Pillar of the Community
United States
1200 Posts |
I'm really not a true, dedicated Conspiracy Theorist, but stunts like these occasional nosedive/recovery events (along with their subsequent disappearance from
the historical charts) really do make it difficult for me to not move into that semi-WackO, paranoid mindset. The more I see things like those nosedive/recovery
events happening and then subsequently disappearing from history, the more respect I have for the true conspiracy theorists and what they have to say.
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Valued Member
United States
151 Posts |
The fact that it happens is weird, but fact that there is no official statement or explanation after the fact, like it never took place is the part that could drive any reasponable person to paranoia LOL.
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Pillar of the Community
United States
3789 Posts |
I realize its easy to place part of these price irregularities and gyrations on manipulations and what not.
However, as someone who is active in these markets everyday, I want to mention a few things
1- commodities are extremely volatile. This is because there are large market forces behind the scenes, and its not just speculators and traders such as myself. There are many parties at work everyday.
2- some of these metals markets don't have a lot of volume and liquidity so prices can move each and every way. and again its not just in plat, I can go on and on exact same volatile moves in another commodity such as coffee.
3- these kitco charts, I have never used them or looked at them because Ima getting the raw data feeds everyday but there wasn't anything abnormal in the markets.
4- This sort of wide volatility is a good thing because it does allow you to trade it if it is your time frame. Stops, sell stops, any sort of stops have nothing to do with this. There are too many different time frames that are used in the market that it would be immaterial to speculators.
In closing, these wild swings are really nothing and are to be expected and happen. Kinda like "oh ok" moment.
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Pillar of the Community
United States
1200 Posts |
I am not disagreeing with any of your points. That being said, it does nonetheless seem that your points are both generalistic and abstract and that they don't achieve
taking even one step toward providing credible reasons for the 11/26/12 nosedive/recovery event (which involved all four major PMs locked in perfectly synchronous
choreography) and its subsequent disappearance from the historical record.
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Bedrock of the Community
13014 Posts |
Did anyone notice if these dips appeared on other charts as well? It may just be some glitch in the kitco chart since it seems to happen pretty often
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Pillar of the Community
United States
3789 Posts |
Freddy
my friend, one could opine and go on and on and on and theorize what happened that particular date. As a trader, to me it means nothing really. The price action was done on all PMs, simple.
nothing more and nothing less... and expect that one PM goes down, others will go down on "sympathy". certain assets do correlate.
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Pillar of the Community
United States
2543 Posts |
Nefarious forces aside, it was a $30 sudden dip that was corrected within the hour. I would " bet the farm " it was a software glitch, which caused a computerized sell off,which was identified, trading was temporarily halted. The resulting trades were never completed. The situation was corrected and expunged from all but the regulatory record and trading resumed as normal. But the tin foil hat version is way more fun to consider |
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Pillar of the Community
United States
1200 Posts |
I just hope the software architects/engineers who designed the software that runs the systems that allow nosedive/recovery events like the one on 11/26/12
aren't the same crew of software architects/engineers that designed the software that runs my pacemaker. Might make for an unpleasant afternoon someday.
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Replies: 15 / Views: 1,144 |
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Posted 02/08/2013 12:11 pm
