Loading ...SILVER SQUEEZE ?
As Usual all hype and No Squeeze.
This Comex Default Plan has been in the works for as long as I have been “stacking”
25 years at least.
Never Materializes….It’s likely “sponsored” by the Cretins to get Silverbugs all lathered up
THEY are FULLY in Control of their Pet Market …and always WILL be.
A number of years ago I emailed Ted Butler as a comment on one of his posts. I said that the only way there will ever be a squeeze(Comex default) would be if a whole lot of people went and bought one silver futures contract each, paid 100% margin for it and requested physical delivery. If the WSB/Reditt crowd would do that they could cause the Comex to declare force majeure and settle for fiat because there isn’t enough silver to deliver. I don’t think that is going to happen but if the WSB crowd wants to do it, that is how. Buying SLV or any other vehicle puts a strain on the silver situation but isn’t going to cause the squeeze they are talking about.
The only thing getting squeezed in the silver market is my patience. What a crock!
fwiw … I now have a VLT sell on SLV, pending today’s, this week’s and this month’s close.
Swim at your own risk.
Don’t forget the big picture. The article CM cites below is the reality of the situation – a marathon, not a sprint.
Chartsmaster
February 24, 2021 – 9:10 am at 9:10 am
Just read this.
https://silverseek.com/article/ahead-march-comex-silver-deliveriest
This sell off is
1) a good opportunity to move bullion percent holdings from silver to gold (pay attention to GSR).
2) buy gold (and a little silver) bullion at discounted prices (silver could get hit hard but just another buying opportunity.
The bull is not dead.
just to add a bit more info in what I’m seeing in the GSR and why shifting bullion at this point is an opportunity IMO – look at how much it oscillated before the blowoff in the 70’s and in the 00’s-’12. On average the GSR would drop about 40% from a peak before going right back up. It doesn’t go in a straight line down to the blow off top in silver.
macrotrends.net
seasonals on silver
https://seasonalcharts.com/future_metalle_silver.html
Looking at a GDX chart since 2007 and I’m all-in today (not buying GDX but those on my majors list). If I’m wrong, possible fake out down to 27 or so, OR the PM bull collapses. From here, I’m ok with pain down to $27, but at this point it’s a dice roll trying to get that additional 10% if the bull is real. Today is the day!
Infighting, party fractures, confidence is all gone and joke as the world watches the USA. The dems do not even trust the sleepy leader for he may get up to pee at night and turn the wrong switch on. The Fed can only continue buying bonds for so long and the longer term rates will rise.
https://www.washingtontimes.com/news/2021/feb/24/democrats-ask-joe-biden-cede-authority-nuclear-lau/
………. but …. but …. but …..
Am I still early ??
Sheeesh
WD