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Gold and silver prices are down

Canndo said:
Where did it end up?
Click to expand...

AG yesterday was like $14.8, went as high as $20 in premarket this morning, then ended the day at $16.5, but is now up in after hours. Could be Robinhood locked down the stock, not sure - or maybe WSBers were too busy trying to access their accounts.

AG is only like 25% short, not 140% like GME, so not sure it's gonna be a good short squeeze candidate, also all silver stocks are up so it's a bit hard to tell if AG is up due to WSB or not.
 
Varmint said:
AG yesterday was like $14.8, went as high as $20 in premarket this morning, then ended the day at $16.5, but is now up in after hours. Could be Robinhood locked down the stock, not sure - or maybe WSBers were too busy trying to access their accounts.

AG is only like 25% short, not 140% like GME, so not sure it's gonna be a good short squeeze candidate, also all silver stocks are up so it's a bit hard to tell if AG is up due to WSB or not.
Click to expand...
Thank you. I enjoy your insight.
 
richc said:
but... but... but... you said..

“Wait for silver to go test $21-22, then it'll be time to back up the truck. “
Click to expand...

Yeah, there's two things happening here - one is the WSB action possibly moving into silver. From reading a little I think maybe today was short covering by silver stock shorts nervous about WSB coming in, as well as some actual WSBers buying. It explains why AG went up a lot but SLV didn't move that much, although volume was huge in SLV today.

The second thing happening is the 5-6 month consolidation in gold & silver miners. That's getting close to a bottom, and possibly could have doubled bottomed yesterday, but my gut says it'll go lower in February - that we'll get a short term rally but then do a U-turn sometime next month. That's when you might see $21-22 silver.

Here's a 1 month chart from a silver miner I bought yesterday at $0.70 - I've been watching it drop for a month and thought $0.70 would be a short-term bottom at least. So while today's 25% jump may look like it's related to WSB, if you look at the chart, I think it's just a normal rebound after a month of selling off from the $1.30 level.

AAGFF.jpg
 
Logged onto my ameritrade account and go this just now
 

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richc said:
Sent to me by @chris_1001

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
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Still think this is retail investors (and maybe even hedge funds) trying to get ahead of a WSB move, don’t think it’ll last unless WSB actually goes after silver, not much evidence of that yet.
 
Varmint said:
Still think this is retail investors (and maybe even hedge funds) trying to get ahead of a WSB move, don’t think it’ll last unless WSB actually goes after silver, not much evidence of that yet.
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You gonna burst my bubble again??? I just mortgaged the house, sold all my worldly possessions and borrowed from a loan shark to invest in silver!!!

[rofl]
 
richc said:
You gonna burst my bubble again??? I just mortgaged the house, sold all my worldly possessions and borrowed from a loan shark to invest in silver!!!

[rofl]
Click to expand...

Sorry I just meant silver isn’t going to $50 this week. It’s still going to $50 this year, just tell the loan shark to be patient.
 
Just checked JM Bullion this afternoon. Other than a handful of way overpriced specialty coins, physical silver is WIPED OUT. Only stock alerts currently exist for standard physical silver, coins and bars. Standard, current production coins such as SE's, silver Krugerrand's, Maple Leafs, etc. are GONE.
 
n1oty said:
Just checked JM Bullion this afternoon. Other than a handful of way overpriced specialty coins, physical silver is WIPED OUT. Only stock alerts currently exist for standard physical silver, coins and bars. Standard, current production coins such as SE's, silver Krugerrand's, Maple Leafs, etc. are GONE.
Click to expand...


And there was much rejoicing!

:)


ETA:

Not a silver bar to be had at Apmex...

www.apmex.com

Silver Bars By Weight | Fractional to 1,000 oz | APMEX

Buy Silver bars online from APMEX.com. Fractional and 1 oz Silver Bars to 1,000 oz Silver bars offer flexibility for your investment. Free shipping on orders +$199.
www.apmex.com www.apmex.com

100 ounce silver bars start at $3400 on ebay... most are $3500 and above...

www.ebay.com

silver bar in Silver for sale | eBay

www.ebay.com


JMBullion out of stock on silver bars as well...

Buy All Silver Bars | JM Bullion™

www.jmbullion.com

So, @Varmint, are you feeling lucky???
 
Last edited:
They're banking on paper silver vastly outpacing physical (which it does) and tanking some banks. Will be fun to watch while I do the tombstone with an ASE.

 

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