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Silver might top $20 today
#1
Looks like silver could push thru the $20 mark today.

[Image: silver.gif?0.8403107320059561]
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#2
This keeps up, we may get a Precious metal mania. Silver up 6% today. The PM market is actually pretty thin. If a lot of people like the Robinhood crowd jump in, then huge spikes are possible. PM'S have been beating the market for a while now, people are starting to notice. Still think PM's will go down when the market swoons again, so I'm only about half in.
Monty Python: “There are a great many people in the country today, who through no fault of their own, are sane.”
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#3
(07-21-2020, 03:33 PM)doubletroublejim Wrote: This keeps up, we may get a Precious metal mania.  Silver up 6% today.  The PM market is actually pretty thin.  If a lot of people like the Robinhood crowd jump in, then huge spikes are possible.  PM'S have been beating the market for a while now,  people are starting to notice.  Still think PM's will go down when the market swoons again, so I'm only about half in.

Yegads.  Silver has already gone above $21.

Kitco has silver at $21.35 as I write this.

The daily advertising blurb from EW HQ makes it sound.....shall we say......Interesting.

Something may be about to happen, but just which way markets will go is above my pay grade.

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#4
I heard about this elsewhere.

I don't know if true.  But if it is, it is interesting.

"…SD Bullion has been told there is an emergency conference call between the US Mint and a select group of market participants this afternoon to discuss potential contingencies moving ahead. At this time the agenda for the call isn’t entirely clear, but there have been reports that the Mint has had continued difficulty sourcing metal, especially Silver, with Covid-19 repercussions impacting supply chains throughout the world and demand at an all-time high. With operational obstructions growing more severe, there is concern that this unprecedented emergency call might result in a drastic change of direction in the short term…."
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#5
Here is Ballanger on what he thinks about the Robinhood crowd hitting a stock like Getchell Gold of which I'm ahead 112% as of today.

"I am caught with mixed emotions when I think of the prospect of ten million kids piling into Getchell Gold Corp. (GTCH:CSE) or Aftermath Silver. I am sure I would welcome such an event, but how does one stay invested when you know full well that the buy-side volume that just spiked the stock is totally capable of turning on you like a rabid dog, sending your shares into a downward death spiral. "
----------------------------
I like Ballanger. I have made money on his analysis.  Not only that, he has often explained the tools he uses, what his current trades are, and why.   He's been around a long time, and his macro analysis of the financial system especially in regards to trading PMs is the best. He now charges for his real time trade info, but you can still glean what he is doing from the public articles. 

Rest of article here:

https://www.streetwisereports.com/articl...d=39908773

Now that I think about it, I believe Getchell is still a pink sheet over the counter stock, and therefore harder to buy. Maybe beyond the Robinhood gang's capabilities .
Monty Python: “There are a great many people in the country today, who through no fault of their own, are sane.”
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#6
Wow.  Looks like silver was flirting with $23 yesterday, but has backed off a bit.

I would love to see it go back towards the $50 mark   I have 3 bags of Canadian 80% and other distressed foreign silver accumulated over the last 6 decades that I should get rid of.  The Canadian 80% will have to be sorted from the 50% before any local dealer will buy it.  The distressed foreign is a real hodgepodge running the gamut from billon to sterling.

I wonder if the RobinHood crowd will be able to buy PM as well.  Probably not.  But I see where a lot of places are now advertising they will "store" the buyer's PM for a fee.

It was interesting to read on ZH how RobinHood sells the trades to a hedge fund.  The hedge fund then front runs the trades to clear a tidy profit.  The hedge fund then usually gets to keep the stock in their street name, where it can be used to sell short and otherwise manipulate the market.  But because RobinHood does not do the trade, they can claim they do not front run their customers.

The little guys don't stand a chance in the Wall Street casino.

Good luck with your stock DoubleJim.
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#7
Silver up 7% today alone. That's up over 5% each day for the last 3 days. Bonkers Crazy!
Monty Python: “There are a great many people in the country today, who through no fault of their own, are sane.”
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#8
(07-22-2020, 08:41 PM)doubletroublejim Wrote: Silver up 7% today alone.  That's up over 5% each day for the last 3 days.  Bonkers Crazy!

It closed at  $23.03 today.  Up a dollar a day.

I better start hunting around for those foreign silver coins. Smile
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#9
The silver prices being quoted are just for "paper" silver.

Throughout the Chinese-Flu scare, physical silver has been five to fifteen dollars above paper silver prices. Depends on just what you want to buy. 2020-dated American Silver Eagles have been the highest-priced product, pretty consistently. Junk silver coin has been the cheapest, but still pricey.

You can obtain the physical silver, but not at spot prices.

oly
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#10
(07-23-2020, 12:15 AM)oly2059 Wrote: The silver prices being quoted are just for "paper" silver.

Throughout the Chinese-Flu scare, physical silver has been five to fifteen dollars above paper silver prices.  Depends on just what you want to buy.  2020-dated American Silver Eagles have been the highest-priced product, pretty consistently.  Junk silver coin has been the cheapest, but still pricey.

You can obtain the physical silver, but not at spot prices.

oly

Well, when you trade in your silver, and get more than spot for it, I'll be listening.
Monty Python: “There are a great many people in the country today, who through no fault of their own, are sane.”
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