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Timmins Gold Corp T.TMM

"Timmins Gold Corp is engaged in acquiring, exploring, developing and operating mineral resource properties in Mexico. It owns and operates the San Francisco open pit and Ana Paula gold project in Guerrero and the Caballo Blanco gold project in Veracruz."


TSX:TMM - Post by User

Post by wonteeon Nov 25, 2013 8:06am
232 Views
Post# 21937217

Today is gold option smashing day, the biggest of the year!

Today is gold option smashing day, the biggest of the year!https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/11/23_Maguire_-_Fed%2C_BIS_%26_Criminal_Banks_Continue_Attack_On_Gold.html


Maguire - Fed, BIS & Criminal Banks Continue Attack On Gold


On the heels of some wild trading action this week, London metals trader Andrew Maguire told King World News that the Fed, BIS, and criminal banks are continuing their attack on gold. He also spoke about how the banks are utilizing their own clients to foment dramatic plunges in the gold price in part II of his stunning interview.


Magurie: “With the Fed, the Bank for International Settlements (BIS), and the two primary agent bullion banks having absolute sight into the multi-billion dollar derivatives book (for gold), chart patterns can be constructed in such a way as to ‘milk’ the book to its maximum potential....
“These banks are nothing short of criminal, and these are nothing short of criminal acts. And no different than the many other acts that some of these banks have admitted to, or are (currently) negotiating settlements over. Holding the trading book gives these banks absolute visibility into the key players’ margin positions. And that includes key options positions. This is particularly pertinent as we approach option expiration day on Monday.

What is different this time? Absolutely nothing. This is the bullion banks tricking the market ahead of expiration, and the largest rollover month of the year. Just one example: When the bullion banks hold the options book, and they target a suitable size short options put leg, which might just be a legitimate component of a producer’s hedging strategy, these criminal banks repeatedly force that producer, and it could be their own client, to sell short sufficient gold futures contracts in order to maintain a neutral delta on that position.

That’s just one example of a contrived, forced, knee-jerk reaction that they can generate (in the gold market). And we see this all the time. This week we saw several instances where several thousand contracts were dumped by a single seller at a series of support levels on absolutely no news.

And no one, other than a bullion bank, or the Bank for International Settlements, could provide such large directional single-sized bets into the market, and delivered in (such) a way and a size to overwhelm the complete bid-stack. These bets exceed even current position limits for non-hedgers. No legitimate seller would act in such a manner as to get the worst possible fill.”
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