Loading ...Yesterday’s One Day Sale Is Over
Yesterday I said the smackdown in the metals, particularly Silver, was a gift buying opportunity under $30, that was likely to last only one day. Congrats to Sir YYZ on his excellently timed purchase.
It may be choppy from here on in, but the direction is UP, and to the right.
At this point it’s not the possibility of a black swan, it’s which black swan.
https://www.youtube.com/watch?v=lR29zxrY2LM
Also CM – I’ve watched several LCS owner interviews and they pretty much say 6/4 was absolutely DEAD (Vermillion in Florida hosted a BIN sale to move product, a total flop) – some closed shop early. Another owner said he doesn’t intend to buy inventory from wholesalers until silver gets down to $25 – it’s all coming from walk-in’s selling at ‘high’ prices. On the other hand 60% of surveyed holders are absolutely NOT selling here at $30. It always surprises me how many shop owners do not have a ‘vision’ for why PM’s are doing what they are – they truly believe it’s a ‘random walk’.
For context – the last time silver was at $30 on the upside of a bull market was 02/07/2011, the GSR was 46.02 on 12/30/1979 GSR was 16.27. Today it’s over 75.