There Is No Such Thing As A Bad Tick
By GCRU Gold News on Saturday, July 8 2017, 02:46 - Permalink
It is my understanding the CME ruled yesterday’s silver flash crash excessive, and repriced all trades below $15.45 to this more fair price. Well ironically enough, although last night silver bounced back to $16, this morning in the aftermath of the flash crash, silver traded down below last night’s adjusted low, proving once again, there is no such thing as a bad tick.
But this doesn’t explain why someone would choose to sell a whack of silver futures at 6pm. It wasn’t like it was a badly traded 100 lot. More than 6,000 futures traded. Why on earth would anyone need to sell almost half a billion dollars of silver at the most illiquid time of the day? It almost makes me sympathetic to the tinfoil hat wearing precious metal bulls who are convinced governments are nefariously conspiring to keep gold and silver down.