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On the now infamous Ron Paul/ Bernanke silver raid of February 29th, we documented how 225 million ounces of silver were dumped on the market over a span of only 30 minutes, smashing silver $4 from $37.62 to $33.68.
In a sign of the diminishing returns of paper market manipulation, on the heels of today's Fed minutes disappointment, beginning at 2pm EST, over 127,000 contracts, or 637.535 MILLION OUNCES OF PAPER SILVER were dumped on the market in only 1 hour, resulting in a massive silver decline of.... $0.65.
You read that correctly.
Nearly 80% of ENTIRE ANNUAL WORLD MINING SUPPLY was dumped on the market (during the thinly traded Globex session), over a single hour, and all the cartel could muster was a lousy .65 decline in the paper price of silver!
2012-04-03 21:07 ET - News Release Shares issued 123,164,820 RON Close 2012-04-03 C$ 10.48
Mr. Michelle Laberge reports
RONA COMMENTS ON UNUSUAL TRADING ACTIVITY
In light of unusual trading activity and a significant increase in the Rona Inc. share price following comments made earlier today by Robert Hull, chief financial officer of Lowe's Companies Inc., Rona affirms that it is not for sale, and that it is not presently of the view that a combination with another corporation would be in the best interests of Rona and its stakeholders. Rona remains focused on the execution of its 2012 business plan announced on Feb. 23, 2012, including the launch of a new proven proximity store concept with an average area of 35,000 square feet and its deployment in 20 per cent of the Rona corporate store network.
We seek Safe Harbor.
Ride the Tiger with CD | Stock Discussion ForumsShare
If the offer is right they'll reconsider the "We're not for Sale" murmer.
"Lowe’s spokeswoman Chris Ahearn said that, while the CFO did talk on Tuesday about the retailer’s intention to continue to expand its business in Canada, he “did not speculate as to how we may grow. He did say Rona was a very interesting company with many attractive qualities.”Lowe's, of Mooresville, N.C., plans to operate as many as 100 stores in Canada in the future, she said.
With just 31 big-box stores in Canada today, Lowe’s has struggled to increase its footprint in this country since arriving in late 2007. At the same time, Rona has suffered weak financial results as it grappled with the recession and a slow recovery."