Silver again - the witching hour
[UPDATED - SEE BELOW]
OK, it's gone beyond funny.
Looking at the past 90 days of data, on days when the NY exchange is open, 10 to 11 am Eastern is a witching hour. There is almost always a (relatively) large move in that hour. Most of the time it's downward though there've been a few exceptions. By large, I mean moving the spot price of silver (bid) by at least 10% of its then-current price.
It's both regular and large enough that I'm glad I don't have a connection that allows me fast trades on the metal market. Elsewise I'd look about 10:15 to see what the market's going to do and place based on where it's going to be by 11:00. That is, short sell it if it's going down, and buy it to sell it if it's going up. I'd "only" plan for 5% profit each day - more would be gravy.
I'm going to see if I can find the same detail dailies for further back. I'm curious how long this has been going on...
[UPDATE]
OK, the biggest thing I've discovered is that I really, really need to check my math. 1%, not 10%. Half a percent, not 5%. Sheesh. Oh, it still looks, well, manipulated, and relatively speaking that's a huge change, but the math error does tend to cut credibility...
blush.
OK, it's gone beyond funny.
Looking at the past 90 days of data, on days when the NY exchange is open, 10 to 11 am Eastern is a witching hour. There is almost always a (relatively) large move in that hour. Most of the time it's downward though there've been a few exceptions. By large, I mean moving the spot price of silver (bid) by at least 10% of its then-current price.
It's both regular and large enough that I'm glad I don't have a connection that allows me fast trades on the metal market. Elsewise I'd look about 10:15 to see what the market's going to do and place based on where it's going to be by 11:00. That is, short sell it if it's going down, and buy it to sell it if it's going up. I'd "only" plan for 5% profit each day - more would be gravy.
I'm going to see if I can find the same detail dailies for further back. I'm curious how long this has been going on...
[UPDATE]
OK, the biggest thing I've discovered is that I really, really need to check my math. 1%, not 10%. Half a percent, not 5%. Sheesh. Oh, it still looks, well, manipulated, and relatively speaking that's a huge change, but the math error does tend to cut credibility...
blush.
posted by Kirk at 3:23 PM
0 Comments:
Post a Comment
<< Home