Silver Monitoring Thread £ (GBP) only.

[Cointreau]

18 hours ago, 272 said:

Thought this might be of interest from HL news desk.

In equity markets, precious metals miner Fresnillo surged to the top of the FTSE 100 as silver prices shot higher, targeted by Reddit retail traders. Polymetal, Hochschild and Centamin also shone.

FXTM market strategist Hussein Sayed said: "Following successful attacks against short-sellers on game retailer GameStop and other heavily-shorted stocks like AMC, Nokia, Blackberry and Bed Bath & Beyond, retail traders' next target has become silver.

"iShare Silver Trust, the world's largest silver-backed exchange-traded fund, recorded a one-day inflow of almost $1 billion on Friday and is likely to see more inflows today as more traders become familiar with the trade.

"Miners of silver were the biggest beneficiaries of the latest Reddit's users' recommendation, who are betting this time against large banks. However, the targeting of Wall Street may be misplaced as most big banks hold short positions in the silver futures markets to hedge their physical holdings. If their short positions lose value, their physical holdings gain, hence from a price perspective they are neutral."

I've certainly heard that JPM have been acquiring a huge amount of silver but not the other banks. We shall see what happens on the COMEX.

[Leonmarsh]

The vaults in the world trade centre were 16 acres, you only have to look at silver storage places to see ingots upon ingots upon ingots sitting there making the rich richer 

There are short terms gains to be made but not in my opinion a plan for looking term wealth or asset retention 

Look at platinum you cant buy a platinum ring for less than gold in a high street jeweler why? Its 45 % ish less per ounce than gold thats because its manipulated 

It can be down to the fact catalytic converters have gone down the swanny. 

[Leonmarsh]

The only Pm that's how steady growth and retained a fairly good price is gold always has maybe always will 

What will happen if course now is silver will go the moon and gold will. Plummet story of my life 

Getting the ky jelly and sudocrem ready 

[Cointreau]

6 minutes ago, Leonmarsh said:

For me if it can be manipulated up it can be manipulated down there are bigger things at play here

Rise high, sell flood the market with silver price drops make a huge profit, onto the next thing with alot of new entries to the market holding bullion bars that cost them the earth 

Just my opinion 

 

Trust Captain Ahab here. You're being a tad too pessimistic. But I do wonder whether the elites will at some time clamp down on us peasants owning PM's.

It could be a catalyst for further social unrest.

[Cointreau]

I see they're bashing the price down again...

[Paul]

The "Moonshot-Rocket" launched yesterday was built by British Leyland by the looks of it  

[Leonmarsh]

Fizzled out like a wet fart bit like my valentines days for the past 15 years 

Edited February 2, 2021 by Leonmarsh

[BackyardBullion]

When is it appropriate to do the "I told you so" dance?

[Zhorro]

Looks like the start of the traditional Tuesday smashdown (COMEX cut off this afternoon).  Maybe it was the big boys that pushed it up yesterday in preparation for today's smashdown!

[Rll1288]

Taking out the craziness of the last few days....  The whole of January we stayed within a £18.30 to 18.90 range... so hopefully the trends your friend... the next few days will be telling

Edited February 2, 2021 by Rll1288

[AndrewSL76]

8 minutes ago, BackyardBullion said:

When is it appropriate to do the "I told you so" dance?

It did not happen if there is not a video. I am not talking about an in focus Friday etc. I am talking about a video of just you dancing. We get to pick the song. 

[Rll1288]

3 minutes ago, AndrewSL76 said:

It did not happen if there is not a video. I am not talking about an in focus Friday etc. I am talking about a video of just you dancing. We get to pick the song. 

What about "Maxwell's Silver Hammer"

[BackyardBullion]

You guys crack me up

[Stacktastic]

1 hour ago, Rll1288 said:

the trends your friend... the next few days will be telling

It too heavily controlled to stay up artificially on short sales I think, although is has a lot of publicity and momentum, I have some silver on Ebay and its being bid up already.
Who knows. Its holding resistance nicely at the moment. 

I initially lost £170 on GameStops colossal nose dive, but made £350 yesterday just playing the uptrends of first majestic as you get a 3 second lead watching the silver price live. 
I seriously dont think the pleb traders all realise that (i include myself in that description btw), its like a cheat sheet is it runs almost exactly to the spot price, so you get a decent heads up before it turns.

I woke up 10 mins late today and lost £100 in 4 seconds as it nose dived. Too late to get on the shorts so missed out on some ready nice returns from the other direction too!!!  It will be interesting to see what happens when the US market opens & after the comex does its job, yesterday was a roller coaster, I have a suspicion it will be in the opposite direction. Either way its a win win for me as I can make money from both.

I certainly dont think its reaching £50 an ounce any time soon.   

Edited February 2, 2021 by Stacktastic

[Rll1288]

9 minutes ago, Stacktastic said:

It too heavily controlled to stay up artificially I think, although is has a lot of publicity and momentum, I have some silver on Ebay and its being bid up already.
Who knows. Its holding resistance nicely at the moment. 

I initially lost £170 on GameStops colossal nose dive, but made £350 yesterday just playing the uptrends of first majestic as you get a 3 second lead watching the silver price live. 
I seriously dont think the pleb traders all realise that (i include myself in that description btw), its like a cheat sheet is it runs almost exactly to the spot price, so you get a decent heads up before it turns.

I woke up 10 mins late today and lost £100 in 4 seconds as it nose dived. Too late to get on the shorts so missed out on some ready nice returns from the other direction too!!!  It will be interesting to see what happens when the US market opens & after the comex does its job, yesterday was a roller coaster, I have a suspicion it will be in the opposite direction. Either way its a win win for me as I can make money from both.

I certainly dont think its reaching £50 an ounce any time soon.   

🙂 Believe me i have been in positions that have kept me awake for days... Trading 24/7 when GBP came out of the ERM was a period to remember... Way back when... because you don't see the real flows minute by minute the plays we need to make at our levels are ones where we believe the trend to be correct i.e. if the sentiment is still bullish overall for silver then buy on dips with a view to remaining long and improving averages... as a long term stacker thats even more of a view as I can't see me selling all my stack even if it went down to £10... I would view that as opportunity to by. Will it hit £50 .... yes I believe so... but nit anytime soon

[dicker]

Apart from the paperless trading, if you are a dealer selling physical silver in volume and had a hefty inventory you would have been in a great position over the last week.  I think more so in the US than the UK.  I read that SD Bullion sold 10x their normal volume on Sunday and are not out of stock.

Best

Dicker

[Stacktastic]

2 minutes ago, Rll1288 said:

🙂 Believe me i have been in positions that have kept me awake for days... 

Or your dreaming about it all night, when you do eventually get to sleep. 
I can only imagine how someone that has millions down must feel? 

Its all new, but Im learning very valuable mistakes that I would not have by having real money on the table. 
For example dont hold a volatile position over night and get up late!! Unless its a penny stock that ready to pop LOL. 

Yes your so right about having to watch it, in many ways its almost creative or artistic if that makes sense?? 
The one thing I do like is it forces you to be in the NOW which almost has mediative or 'flow' like qualities.
Bit off topic sorry. 

[Rll1288]

27 minutes ago, Stacktastic said:

Or your dreaming about it all night, when you do eventually get to sleep. 
I can only imagine how someone that has millions down must feel? 

Its all new, but Im learning very valuable mistakes that I would not have by having real money on the table. 
For example dont hold a volatile position over night and get up late!! Unless its a penny stock that ready to pop LOL. 

Yes your so right about having to watch it, in many ways its almost creative or artistic if that makes sense?? 
The one thing I do like is it forces you to be in the NOW which almost has mediative or 'flow' like qualities.
Bit off topic sorry. 

That's the thing... for years I spent glued to charts, news and price movements..... The coolest guys I saw were too Vol traders (trading currency volatility).. their P&L swings were millions of dollars.. but in essence.. Buy low volatility sell high volatility..... for those traders either direction is good.. dependent on price movements... I am sure the PM volatility traders were chomping at the bits when it went to the roof... trading their deltas in the physical market

[Cornishfarmer]

4 hours ago, Leonmarsh said:

Fizzled out like a wet fart bit like my valentines days for the past 15 years 

Obviously got married 16 years ago then!!!!

[Pete]

Well that 'silver lining' was very short lived.
I didn't even have time to get my shovel out and dig up some of the stack to sell.

[MancunianStacker]

Anyone short the hell out of silver today?

[Connor]

Here's me thinking I was going to wake up a millionaire one day this week. Silver prices are more volatile and unpredictable than my ex wife it seems.

[Connor]

8 hours ago, AndrewSL76 said:

It did not happen if there is not a video. I am not talking about an in focus Friday etc. I am talking about a video of just you dancing. We get to pick the song. 

I vote the doors, light my fire as he fires up a crucible 

[Erolroller]

21 minutes ago, Connor said:

Here's me thinking I was going to wake up a millionaire one day this week. Silver prices are more volatile and unpredictable than my ex wife it seems.

I sure we'll see plenty more of these spikes to come over the next 2 months. Then on to the stratosphere. £100 oz before Christmas 2021. 

[Kman]

 

8 hours ago, BackyardBullion said:

When is it appropriate to do the "I told you so" dance?

Why would you delight in being right > silver going up? you sell silver, have money invested in silver and your channel views increased on the buzz around silver

You're laughing in the face of your clients and audience 

Odd