The CME group stepped in this afternoon and raised initial and maintenance margins on silver futures from $11,138 and $8,250 to $11,745 and $8,700 respectively.
We called the rate hike at 9:33 this morning here . We won't say toldja so as this one was like calling the sunrise in the east this morning. It's pretty bad when some guys with day jobs can call a CME rate hike within 3 hours of the announcement.
Watching gold and silver break out to all-time and 30 year highs respectively, the bankers had to resort to their 3rd string goalie to stop this one.
We'll see how long this one lasts guys- we give it 24-48 hours this time.
This is as good a time as any to buy the dip...actually...we'll take it a step further...charge some silver (at 0% APR) on the dip!
Crash JP Morgue, Charge Silver!
