Loading ...Greed vs Reality => 27$ silver target next few weeks.
Where is the afternoon sell-off in silver? This move WAY stronger than I thought…
Yet.. I had vacuums identified when 19.75$ is breached (and hold above)… even on monthly chart!
Edit note: Silver Futures +7.32% so far for futures today. WTH?!?!
Edit: Comex blow-up? Short squeeze? Guys.. have you ever seen such strong a move? Come-on need feed back from old timers on this board!
I traded the 79 run in silver. I was a college student. From march of 79 to Nov 79 I turned 3,000 into 72,000. I got out at 36 silver in Nov and never saw the 50+ print in Jan 80. Lock limit days were common. 5%+ silver days were common. If this is like 79 I would not limit our expectations. Every time I sold I had to buy back higher. We had to wait forever for floor confirmations unlike lightning fills today.
I used the morning pullback to add to my positions.
Yes! I did the same thing, only I got rid of a few dogs that hadn’t lost anything, but weren’t moving with gold. I had this feeling to take advantage of the morning pullback. The pullback didn’t seem to make sense in SILJ and USAS, so I bought a bunch and USAS shot up again like a rocket after I bought more at a drop to 5%.
Some of this is a short squeeze but using Occam’s Razor approach it is just pure money flow coming into the space.
And what a tiny space it is. VERY TINY.
Noman, thanks for that historical visual… not helping my greed management.. but I love it none the less!
Lets see if the W/S algo’s pickup the move into the close…?
Underwhelming close…pressure ahead…
From the get go silver miners couldn’t keep up.
Lets say your an institutional firm with 25 traders and you want to add a new position on. You have to go to committee or the Desk to approve your idea. The weekly break away gap pointed out yesterday is a 100%
approval rate. Consider Fully’s chart yesterday showing the weekly break away gap down and years later the weekly break away gap up yesterday. Consider the space between the gaps as a island formation on a gigantic scale.
Cheesuz! What about lock-limit? Is that a theoretical limit? of really a limit where no trade above it is accepted? I’m reading up on that now.
I had market orders not fill for days because silver would go lock limit and all the days trading would take place in like 30 seconds.
AG up near 7% does not equate with the market move…
Silver the mule goes where it wants, when it wants. And yes it can over deliver just as it can severely underwhelm. Now I am also curious about a force majeure scenario on the Comex. I have been hearing that for years. But this time does seem different. I guess we will all find out soon.
Maybe as we work through earnings season valuations will be upgraded…
If the Comex does not have enough product they will settle in cash. They have done it before.
They have always had the option to settle in cash but I’d like to see them say that is the only way they can settle. Then we know the game is over.
Check the charts. So far acting as expected. Resistance 22-23. If it knifes thru with no resistance anything can happen on upside although I think that won’t happen just yet.
I cannot remember the last time we saw silver and platinum up 7%. Wow
Although I would not be surprised by nasty downs at any time, including ones that last for a while, I do not see any reason why much larger increases in silver prices, day after day, might not occur at any given point. I believe it has been held down rather long.
From what I heard and read, the way the price was brought down back around 1979 was extremely dirty. One can be right and then be made to be wrong. It is so hard to know.
Maybe silver can distract us from viruses and masks.
Some people around here might feel conflicted if Dr Fauci came out and stated that even masks loosely woven with Ag fibers were totally effective in killing viruses, and Doctor Gates were to announce it was the perfect vaccine adjuvant.
See what happens when you encourage them! I was enjoying the day with the absence of the conspiracy rants.
Dito…
ok just for grins, lets say I just came down from another planet and landed on earth. Please explain to me in detail why your government, institutions, media and ‘thought’ leaders have earned your trust. I am serious, even if you truly believe they are benevolent and have the common person’s best interests at heart – I’ll accept that but I would like examples cited of who you trust and who you don’t and why. You probably don’t trust everyone and might reasonably suspect that two or more individuals are collaborating with designs on your freedoms and future well being.
None have earned my trust. I could explain why but I will spare you, at least for now, much discourse. None have earned your trust either, I believe. I believe anyone is being played who feels allegiance (other than tactical, highly provisional, and momentary) for any version as opposed to any other. They are not reasonable or readily controllable by those who are controlled by them.
(I distract myself with these markets.)
Respectfully Karl, i should have made it clear that my response was to Kemmrich’s ‘conspiracy’ comment. In college I thought I was ‘liberal’, aka open-minded then after a few elections and years of listening to NPR I woke up – the glass is NEVER ALWAYS half full or half empty depending on what party is in office – to listen and believe NPR’s messaging is to be mind-fkd. I was at heart (personal values and belief’s) a conservative long before the bushes or trump ever came to office. Anyone selling free sh!t to the masses is, for me anyway to be avoided at all costs. Just my opinion of course but if trump get’s re-elected he will in his second term utter the words “buy gold” at some point. Who did he recently nominate to hold a fed reserve chair seat, why is his favorite president Andrew Jackson, what is the predominant metalic color on nearly all of his properties? He is too smart to get JFK’d by the MIC and banking cartel so at this stage – massive $ printing it is.