My personal portfolio
Comment of the Day

October 05 2012

Commentary by David Fuller

My personal portfolio

Gold futures long trades increased

David Fuller's view Not in the flash crash category but the high frequency (HFT) predators continue to roil the silver market (daily & intraday) on most days. When by chance I saw silver plunge to $34.315, I quickly put in an online order to buy at IG's fluctuating quote which was in the mid $34.40's region at the time but after a few seconds a message came up saying the price had already moved higher. I then tried to buy it in the $34.60s, but received the same message. I waited for a few minutes but it was clearly a now-you-see-it-now-you-don't bear raid by HFT firms. They triggered stops (hopefully none of yours) and then ramped the price back up, placing and removing orders in nanoseconds before anyone else could deal. This roiled the other PMs so I bought more gold (weekly & daily) instead, paying $1788 and $1785.2 for more Dec positions, including spread-bet dealing costs.

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