JPM
JPMorgan Chase & Co.
stock NYSE

JPM tested the waters a month ago at $70s level. They make money on the way up and back down. Selling their paper shares at highs with 633 shorts hitting stop losses (probably their own) on the way down. Then make money again on the way back up. Is that genius or evil genius?
Is this Unlawful Market Manipulation?

lol JPM isn’t short silver.

I found that looking back at the predictions and what actually happened to the price of gold, the institutions like JPM correctly do predict the direction it goes, but underestimate the scale. So if this holds true (which who knows if it will or will not) then JPM's prediction of $8k will be an underestimate and it could be at $10k or $12k.

that small short covering i think it was like 60 contracts? thats not even a rounding error for JPM just fyi. maybe it would be like you playing farmville or something?

Read the explanation for the current price of silver. Does it sound reasonable?
Banks are currently facing an acute problem usually only experienced by airlines, and it's on a scale that threatens the system.
An airline sells 200 tickets for a flight to Mallorca. However, the planned aircraft only has a capacity of 190 passengers.
This isn't a problem as long as the usual 5-10% of booked tickets go unused due to illness, etc.
But if everyone actually shows up for the flight, it's overbooked. The airline then has to offer the now-familiar bonuses to passengers who opt for a later flight.
The costs are relatively predictable since someone is always willing to wait for a small amount of money.
The banks' problem, however, is much bigger.
At the end of March, 17 times more silver was sold than could be delivered.
The total amount of paper silver is constantly increasing because hardly anyone wanted it delivered, and because more was produced than consumed, it wasn't a problem to sell 100 times more on paper, since pickups were being voluntarily postponed anyway.
Some of the silver goes to industry, and absolutely no one in the tech/manufacturing/AI sector will settle for a cash settlement and waste time.
The banks therefore have to buy at any price or borrow the silver.
Only JPM has sufficient liquid silver of this magnitude. However, JPM only lends its silver and charges exorbitant interest rates that can only be paid in silver itself, thus exacerbating the problem and shifting it in JPM's favor.
On Thursday, a few banks did it again. Within five minutes, they sold the entire annual silver production for the end of March.
This "sale" liquidated all your long positions.
They know that most private investors won't return after such a day, so this actually relieves some of the pressure. At the expense of the banks.
This profit for the banks will only be a small band-aid for the coming weeks when they are forced to close their positions.
A short position is closed by executing a purchase, which essentially automatically drives the price up.
It will take years to reduce this short position without driving the price into inflated levels. However, there's no other option as long as central banks or JPM don't sacrifice their silver reserves.
From now on, banks face a choice at every trading session: Do I push the price up by closing at a high price, or do I postpone the problem and borrow, making it worse?
So, currently, the only way forward is up.
Silver isn't theoretically worth 200$ per ounce, but that's possible in the next two to three months.

No they did not, the CME delivery notice floating around is just showing JPM was a clearing house. Read the document properly just because you see buy on one side doesn’t mean they are buying it all lol

Banks are currently facing an acute problem usually only experienced by airlines, and it's on a scale that threatens the system.
An airline sells 200 tickets for a flight to Mallorca. However, the planned aircraft only has a capacity of 190 passengers.
This isn't a problem as long as the usual 5-10% of booked tickets go unused due to illness, etc.
But if everyone actually shows up for the flight, it's overbooked. The airline then has to offer the now-familiar bonuses to passengers who opt for a later flight.
The costs are relatively predictable since someone is always willing to wait for a small amount of money.
The banks' problem, however, is much bigger.
At the end of March, 17 times more silver was sold than could be delivered.
The total amount of paper silver is constantly increasing because hardly anyone wanted it delivered, and because more was produced than consumed, it wasn't a problem to sell 100 times more on paper, since pickups were being voluntarily postponed anyway.
Some of the silver goes to industry, and absolutely no one in the tech/manufacturing/AI sector will settle for a cash settlement and waste time.
The banks therefore have to buy at any price or borrow the silver.
Only JPM has sufficient liquid silver of this magnitude. However, JPM only lends its silver and charges exorbitant interest rates that can only be paid in silver itself, thus exacerbating the problem and shifting it in JPM's favor.
On Thursday, a few banks did it again. Within five minutes, they sold the entire annual silver production for the end of March.
This "sale" liquidated all your long positions.
They know that most private investors won't return after such a day, so this actually relieves some of the pressure. At the expense of the banks.
This profit for the banks will only be a small band-aid for the coming weeks when they are forced to close their positions.
A short position is closed by executing a purchase, which essentially automatically drives the price up.
It will take years to reduce this short position without driving the price into inflated levels. However, there's no other option as long as central banks or JPM don't sacrifice their silver reserves.
From now on, banks face a choice at every trading session: Do I push the price up by closing at a high price, or do I postpone the problem and borrow, making it worse?
So, currently, the only way forward is up.
Silver isn't theoretically worth €200 per ounce, but that's possible in the next two to three months.
TL;DR: Go silver long, you monkeys!

There had to be more than just 2 individuals involved in the scheme. Was JPM fined for this?

The bottom will be whatever JPM decided with its trillion dollar chest.
RemindMe! 2 days

Some funds are only offered to clients of the company managing the fund, i.e. private funds in lieu of publicly traded funds. That might be one reason. Another reason may be due to some conflict of interest with JPM and LPL. The best way to know is to ask your LPL advisor directly.

Article yesterday: JPM says Gold is overbought.

It could have been, or it could have been a natural correction after a long and steep bull run. As for JPM, them stepping in and buying at $73 may have been what made it the bottom. Who knows.

Perhaps not. A man can dream though. JPM has an inordinate amount of influence on the price. If decide to unload large quantities of physical silver (from their roughly 750M oz stockpile), prices will fall off a cliff. Interesting to see that they started to invest in paper silver again. Will they short the paper market and unload physical? That’s what I would do in that position. Unload physical, drive price down, profit from short paper positions, replace physical at lower prices (with paper profits), drive price up, rinse, repeat. Big banks are in control.

I understand the corrections and pull backs and am good with that. However the bigger picture needs to be asked. A 30% drop in a few hours on the last Friday of the month seems orchestrated and manipulated. That last 30% climb took a couple weeks and vanished in hours. I’m still holding physical, bought in in the $20 range and just added slowly as it climbed up to around $100 but Fridays drop proves to me that the controllers are still able to manipulate and know how to rig, when to buy, JPM literally bought at the bottom $78

When you say companies we think about things like MSFT, JPM, etc. and not private equity "investors." It sucks when private equity buys and guts a company like Joann (I'm bitter about it anyways) but I wouldn't say that Joann didn't care about their customers. A lot of PE people have no interest in running a company, even a practical monopoly, and want to take a quick profit at the cost of everybody else.

Nah, JPM bought the low. There will be more buyers on Monday than sellers.

JPM needed to get out of their short position. They bought back in near the lows

JPM took delivery at 78ish yesterday. So atleast that.

It’s not nearly as sexy as SoFi but OZK is a good bank for investors. Large dividend growth and share buybacks. If you have the funds, JPM or GS are big targets.

People literally colluded and decided gold prices for years, then they quick that, and after that JPM was even fined for spoofing rare metal markets.
https://en.wikipedia.org/wiki/Gold_fixing
https://www.cftc.gov/PressRoom/PressReleases/8260-20
There is absolutely a conspiracy and it's already in the fucking public record.