Credit deflation and the reflation cycle to come (part 2)

[Yadda yadda yadda]

3 minutes ago, Bricks & Mortar said:

 

Having taken DB's early advice, (that if a guy didn't have a large pot or was starting out, he might stick to a small number of silver miners), and subsequently started following the main silver investor/commentators on Twitter;  the above is exactly what happened.  Silver push comes from long-time silver investors who tried to go on wsb and promote their thesis, and are getting thrown out because wsb isn't finished with GME and their other stocks yet.

WSB will soon be as associated with the GME crash as with the pump. I don't know when it will crash or how high it will go first but it isn't staying near the moon.

[geordie_lurch]

Second most read story on BBC web site:

Silver surges as Reddit army turns to commodities

https://www.bbc.co.uk/news/business-55882758

[Gin]

It is party time and the more the big hedge fund managers kick back the more the Reddit gang will smile and think....game on. It makes a change from Fortnite . They want the challenge , that is what rocks their boat . They certainly do not worry about losing a few hundreds of £`s .

[Virgil Caine]

2 hours ago, Lightscribe said:

Yup. People underestimate the Gen-Zers as needing constant stimulation and losing interest. They understand this boomer perception of them all too well. They’ve cut their teeth on crypto and are now out for blood in the real world at the broken legacy that’s been left for them.

The goal is to buy all available physical and to hold to dislocate the spot paper price to physical as much as possible. They hope that this will expose COMEX in actually having no physical to back up their paper and hurt JP Morgan massively in the process. They’re in it for the long game.

That is the only viable strategy since the Central Banks can’t print more physical metal. If people want to make a difference they need to buy it and require physical delivery.  They also need to avoid buying using leverage because then the likes of JPM have a route to shake them out of their position.  The unknown is how much inventory both visible and hidden is there out in the real world. It was hidden inventory, leverage and interest rate hikes that did for the Hunt brothers in 1980. One wonders if the big players do lose control of the market will CBs be forced to hike interest rates

[Hardhat]

Some real "rubber band" action in the silver miners this morning.

I remain unconvinced that silver is in a major move here, I think I would need to see it breach $30 to start believing we are in a different place to the summer.

I would be very happy to be proven wrong...

[Hardhat]

Shell targets power trading and hydrogen in climate drive

https://uk.finance.yahoo.com/news/shell-targets-power-trading-hydrogen-010542112.html

Some "Greenwashing" here, but bullish for hydrogen and natural gas.

[Tingles]

Bullionvault has proven to be very effective regarding this 'Silver squeeze' situation.  Previously I have only used it to hold as a hedge and not for any short term trading.  On Thursday morning I bought 80kg and sold this morning.  May have called it too early but completely happy with 13% up (after fees) in just under 96 hours, generally I am not one to look back except for learning.

My main conclusion is that Bullionvault has been incredibly efficient and convenient when used in a trading context.

[DoINeedOne]

19 minutes ago, Tingles said:

Bullionvault has proven to be very effective regarding this 'Silver squeeze' situation.  Previously I have only used it to hold as a hedge and not for any short term trading.  On Thursday morning I bought 80kg and sold this morning.  May have called it too early but completely happy with 13% up (after fees) in just under 96 hours, generally I am not one to look back except for learning.

My main conclusion is that Bullionvault has been incredibly efficient and convenient when used in a trading context.

Nothing wrong with taking profits, BullionVault is a great site for holding

I have small amount physical as in coins but most silver i own is with BullionVault

Not sure about this Silver pump my average buy is around £12.5 if we get near £25 i may sell 50% to recover my investment whilst still holding half then if it drops back down i can re-buy back in, if it doesn't drop i have my original investment money back and silver to hold

[wherebee]

Do you know whats funny?

 

There is an Australian Silver Miner called SVL on the ASX.  Same letters as the one the reddit gang are targetting in the USA, but a real miner.  I posted about a week ago it was one of my minnows; I bought it because it owns a lot of land which if it gets good grades on would go to da moon for real reasons. 

It went up 48% today.  I reckon people are just buying it without checking the name.  I'm up 58% on my  holdings (small though it is). 

Mental.

Edit: If it goes above 60 cents I'll sell a third, which will cover my original stock, and then the rest is a free investment.  Be crazy not to, really.

[Tingles]

25 minutes ago, DoINeedOne said:

Nothing wrong with taking profits, BullionVault is a great site for my holding i have small amount physical as in coins but most silver i own is with BullionVault

Not sure about this Silver pump my average buy is around £12.5 if we get near £25 i may sell 50% to recover my investment whilst still holding half then if it drops back down i can re-buy back in, if it doesn't drop i have my original investment money back and silver to hold

I'm very similar with my main silver holdings (average buy £11) and may do the same, although I didn't last August.

[geordie_lurch]

Silver seems to be trying to go higher again - might be the Americans waking up...

[Lightscribe]

6 minutes ago, geordie_lurch said:

Silver seems to be trying to go higher again - might be the Americans waking up...

Wait until 2:30pm. First Majestic should see some movement, as well as physical price. That should in turn send the likes of FRES higher still before the day end.

Bullion by post now is now pricing a 1oz Britannia for £35.88.

https://www.bullionbypost.co.uk/silver-coins/britannia-silver-ounce/2021-britannia-one-ounce-silver-coin/

[kibuc]

Avino +144% premarket, now we're talking. 

[Yadda yadda yadda]

14 minutes ago, Lightscribe said:

Wait until 2:30pm. First Majestic should see some movement, as well as physical price. That should in turn send the likes of FRES higher still before the day end.

Bullion by post now is now pricing a 1oz Britannia for £35.88.

https://www.bullionbypost.co.uk/silver-coins/britannia-silver-ounce/2021-britannia-one-ounce-silver-coin/

Great page that as you can see spot in pounds and how much vat you're paying.

[Lightscribe]

15 minutes ago, Yadda yadda yadda said:

Great page that as you can see spot in pounds and how much vat you're paying.

Yup, shows how much you are going to get ripped off by. £29 for a Britannia excluding VAT though. 

Glad I did most of my silver buying in the lows of 2015/16 and that my 10oz Queen Beasts were up to date in December. Will be interesting to see any updates with orders from Coin Invest and silver to go.

 

[Yellow_Reduced_Sticker]

 

I just checked my bullionvault acc, i'm up 61%, BUT, FFS I forgot to spend the £3K cash left in there on silver last March! what to do ...buy NOW?

 

NA...if i BUY now I'll put a curse on the silver price AND it will surely COLLAPSE ...and @DurhamBorn's son won't be able to pay off his mortgage BY this Friday at 4.27pm!

 

SO...let's have another CRAZY week...watch our silver miners go to the MOON ...whilst munching on popcorn!

 

[geordie_lurch]

This gives some context to what went on last week and what is probably going to only increase this and the next few weeks as all this filters through most things

A longer version of the above:

https://www.reuters.com/article/retail-trading-hedgefunds/goldman-sees-hedge-fund-exposures-close-to-records-ongoing-sell-off-risk-after-gamestop-swings-idUSL1N2K60GW

Quote

“Despite this active deleveraging, hedge fund net and gross exposures on a mark-to-market basis both remain close to the highest levels on record, indicating ongoing risk of positioning-driven sell-offs.”

 

[Heart's Ease]

Thanks to everyone here on DBs superb thread I am in the bizarre position of not having fomo, but looking around instead to see what looms elsewhere as a buy when the attention is on silver and GME.

Also a h/t to @201p who said today on his equally addictive thread "The thing with watching and participating the markets for a long time, you build a tool box for situations. It's time to dig out that non standard crescent wrench."

Let's see how things roll today. Come on the mighty Panther!

[Lightscribe]

18 minutes ago, Heart's Ease said:

Thanks to everyone here on DBs superb thread I am in the bizarre position of not having fomo, but looking around instead to see what looms elsewhere as a buy when the attention is on silver and GME.

Also a h/t to @201p who said today on his equally addictive thread "The thing with watching and participating the markets for a long time, you build a tool box for situations. It's time to dig out that non standard crescent wrench."

Let's see how things roll today. Come on the mighty Panther!

I’ll be enthusiastically coaxing the Panther (oo-er) today alongside you. 

[Green Devil]

26 minutes ago, Heart's Ease said:

Thanks to everyone here on DBs superb thread I am in the bizarre position of not having fomo, but looking around instead to see what looms elsewhere as a buy when the attention is on silver and GME.

Also a h/t to @201p who said today on his equally addictive thread "The thing with watching and participating the markets for a long time, you build a tool box for situations. It's time to dig out that non standard crescent wrench."

Let's see how things roll today. Come on the mighty Panther!

Amazing how things turned out, with even Panther getting a bid! 

[AWW]

I still think silver is a great long term hold, but I've just sold out of my entire holding off Arvino. 103% up on the day is completely unsustainable. Will buy back in later.

[AWW]

I do wonder if ASM went up so much compared to other silver miners is that it was first alphabetically on the list that the silver squeeze brigade are being told to buy today.

[Yadda yadda yadda]

I've sold First Majestic and Pan American but kept Fres and HOC.

Also hope to buy back in later.

[kibuc]

10 minutes ago, AWW said:

I still think silver is a great long term hold, but I've just sold out of my entire holding off Arvino. 103% up on the day is completely unsustainable. Will buy back in later.

Surprised you managed to do so. Usually, I can only trade minnows like Avino or Impact in £1000 batches, if I'm lucky.

[geordie_lurch]

Bp has gone firmly under 270p now - currently 266.5p so not sure where the next bottom for that might be