If you are wondering why silver got smacked down, this is why. People were forced to sell paper silver contracts. Buy the dip. Many people are selling paper and buying physical. Go Phyzz.
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CME Hikes Silver Margin For Third Time In 7 Days
http://www.zerohedge.com/article/and-scene-cme-hikes-silver-margin-third-time-7-days-raises-initial-maintenance-margins-12
Last week two silver margin hikes of 9% and 10% did nothing, which is why this week's first hike (of many more) by 12% to the maintenance and initial margins was to be completely expected. We believe that nothing short of 100% margin (coupled with not one single ES margin hike by the Globex) will eventually placate the ardent Comex risk managers who are terrified their models may end up being wrong about "stuff." One thing is certain: the panic is palpable and the administration will stop at nothing to prevent the $50 limit order from triggering silver's surge to triple digits. We wish them all the best in this endeavor and are grateful for any and all BTFD opportunity.
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z
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