It is interesting that it is always "THE DOC" on Silver Doctors making these bogus claims of some MILLIONS of ounces of silver being trading within 5 minutes of time, driving the price down. "THE DOC always relies upon Netdania for his source to these claims, yet the data for such would come from CME, and any data that derives somewhere else is bogus data. Certainly Netdania's volume data does not come anywhere close to matching up with CME data. I have shown this before, here:
Cartel Dumps 1.5 x US Annual Silver Production on Futures Market in 5 Minutes on NFP Release
and several times on this thread. I have myself posted, in sarcasm of course, on June 1, 2012 when Netdania showed that 60 Million ounces traded in less than 5 minutes...as prices soared. Yet THE DOC never published anything about that one...
and yet still...
Friday's volume datacan be found at CME's website, and further, time and sales data do not reflect anything resembling a volume surge, much less 40,000 contracts, trading in the time frame THE DOC mentions. Within the time frame THE DOC gives, at most a few hundred contracts traded.
I wonder, why does this "DOC" rely upon bogus data instead of using the only data source that could be accurate?
PS Anyone interested, go take a look at Netdania Silver right now. Set the chart on 5 minute bars. You'll see an amazing sight. At 7:00AM -7:05AM THIS MORNING, Silver, according to Netdania, traded OVER 225,000 contracts. That's 1.125 BILLION ounces in 5 minutes. THAT'S 150% OF THE TOTAL OPEN INTEREST, IN 5 MINUTES. Then at 11:00AM-11:05AM it traded again OVER 150,000 contracts, or 750 MILLION ounces. But this did not happen, Netdania is simply bogus volume data. One can go to CME for proof of this.
PS to the PS My mistake, that 225,000 is one hour of trading, not 5 minutes. This is still a full week of average volume as reported by CME for silver, traded in one hour. Tomorrow we can see the CME volume data for today, and we will see that there was nowhere close to this volume of trade.
"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence