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Silver short squeeze WE PUMPIN OVER HERE GET ON BOARD

  • 29-01-2021 12:28am
    #1
    Registered Users Posts: 109 ✭✭ Thelonious


    Silver is the most manipulated market in the world.



    I've seen sickening volumes pf paper silver undo weeks of steady gains in a matter of hours. Seen it too many times!!


    One of the most critical materials for electronic production.

    Strong demand outlook regardless of short squeeze.

    Huge demand projections to meet solar panel production targets.

    Excellent market fundamentals.

    Tiny real market (huge deriviative market)



    GET ON IT !! WE PUMPING OVER HERE


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Comments

  • Registered Users Posts: 1,490 ✭✭✭ thomasm


    Best exposure to silver ? Miners, ETFs ?


  • Registered Users Posts: 19,832 ✭✭✭✭ neris


    Probably an etf. Apparently there's something on the wall street bets reddit about a push on a silver etf


  • Registered Users Posts: 96 ✭✭✭ Qwertyminger


    Thelonious wrote: »
    Silver is the most manipulated market in the world.



    I've seen sickening volumes pf paper silver undo weeks of steady gains in a matter of hours. Seen it too many times!!


    One of the most critical materials for electronic production.

    Strong demand outlook regardless of short squeeze.

    Huge demand projections to meet solar panel production targets.

    Excellent market fundamentals.

    Tiny real market (huge deriviative market)



    GET ON IT !! WE PUMPING OVER HERE
    I just applied for Blackrock ETF.

    It'll take a few days.

    Any other buying platform recommended?

    I own a lot of physically backed gold already but it stopped rising so dramatically this year unfortunately so I'm looking for a distraction anyway, this should be fun.


  • Registered Users Posts: 5,440 ✭✭✭ daheff


    any silver miner stocks that could benefit form this?

    really don't want to be left holding physical silver if this goes belly up


  • Registered Users Posts: 4,235 ✭✭✭ JeffKenna


    What am I going to do with all this free money?


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  • Registered Users Posts: 5,440 ✭✭✭ daheff


    JeffKenna wrote: »
    What am I going to do with all this free money?

    i believe coke & hookers would be the non-pc answer


  • Registered Users Posts: 4,235 ✭✭✭ JeffKenna


    daheff wrote: »
    i believe coke & hookers would be the non-pc answer

    https://youtu.be/btAbU1sPqIM

    My favourite YouTube clip of all time.


  • Registered Users Posts: 105 ✭✭ Craig_David




  • Registered Users Posts: 36 TheBetsy


    So guys how are we all buying silver? Physical or ETF or???? - in the reddit Post they mention $SLV etf but I don't think we can buy that here? I think revolut has access to gold/silver?


  • Registered Users Posts: 282 ✭✭ Low Energy Eng


    I'm fortunate i have access to us stocks so placed an order for $SLV.

    Be interesting to see how the media react to this one, as they hate anything precious metals related.


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  • Registered Users Posts: 105 ✭✭ Craig_David


    TheBetsy wrote: »
    So guys how are we all buying silver? Physical or ETF or???? - in the reddit Post they mention $SLV etf but I don't think we can buy that here? I think revolut has access to gold/silver?

    I just used Revolut


  • Registered Users, Subscribers Posts: 4,780 ✭✭✭ hometruths


    TheBetsy wrote: »
    So guys how are we all buying silver? Physical or ETF or???? - in the reddit Post they mention $SLV etf but I don't think we can buy that here? I think revolut has access to gold/silver?

    Revolut by far the simplest but do they back it with physical?


  • Registered Users Posts: 36 TheBetsy


    schmittel wrote: »
    Revolut by far the simplest but do they back it with physical?

    Agreed - Not too sure how it works but just bought some there and it mentions that silver will be held with a financial institution on your behalf and no physical silver will be delivered so im guessing it is backed with physical? Must have a proper look at the T's and C's.


  • Registered Users Posts: 2,700 ✭✭✭ cronos


    Has there been any comment from the original guy who did the game stop analysis on this silver squeeze?

    I sent a message to Degiro about adding iShares Silver Trust
    NYSEARCA: SLV

    I note that this "The iShares® Silver Trust (the 'Trust') seeks to reflect generally the performance of the price of silver."

    I wonder how generally it will reflect it in a squeeze scenario.


  • Registered Users, Subscribers Posts: 4,780 ✭✭✭ hometruths


    TheBetsy wrote: »
    Agreed - Not too sure how it works but just bought some there and it mentions that silver will be held with a financial institution on your behalf and no physical silver will be delivered so im guessing it is backed with physical? Must have a proper look at the T's and C's.

    If Revolut buy an ounce with a financial institution for every ounce a revolut customer buys, it will move the price. I guess with #silversqueeze trending worldwide they'd probably be risky not to!


  • Registered Users, Subscribers Posts: 4,780 ✭✭✭ hometruths


    cronos wrote: »
    Has there been any comment from the original guy who did the game stop analysis on this silver squeeze?

    I sent a message to Degiro about adding iShares Silver Trust
    NYSEARCA: SLV

    I note that this "The iShares® Silver Trust (the 'Trust') seeks to reflect generally the performance of the price of silver."

    I wonder how generally it will reflect it in a squeeze scenario.

    SLV is a good way to play it in my opinion.

    If everybody who is talking about silver ordered 3 x 1 oz coins from somebody like https://www.bullionbypost.ie/or global equivalent the price of silver would rocket in days.

    I think the best way to do this is, say if you decide to put €1000 into silver - put €900 into SLV and €100 into coins. - i.e just put 10% into physical.

    What the WSB guys understood with Gamestop was they had to create the conditions to move the price first, then momentum took over. In silver the best way to move the price is if everybody buys a few physical ozs.


  • Registered Users Posts: 36 TheBetsy


    Another could be $PSLV? This is available already on Degiro from what I can see


  • Registered Users Posts: 1,788 ✭✭✭ Cute Hoor


    schmittel wrote: »
    What the WSB guys understood with Gamestop was they had to create the conditions to move the price first, then momentum took over. In silver the best way to move the price is if everybody buys a few physical ozs.

    The WSB guys surely aren't going to be buying a few physical ozs, costs associated with buying and selling, the effort & delay in buying and selling, presumably these are zero fees push button instant type guys




  • I have 4 XAG on Revolut. Is this a better route than $SLV? Someone might explain the rationale.

    From my (very limited) knowledge and research I have to think that people who are expecting the volatility and increases we have seen with Gamestop happen with silver will be very disappointed. I think the size of the the stockpiles existing and the amount of silver out there would preclude any sudden sustained dramatic rises. If people win big on Gamestop and then dump it in silver we may see some spikes though, before people lose interest and it drops. Maybe that would be the best time to buy?

    That said, it does look like Silver, leaving aside all this short business, looks a good bet to hold long term.


  • Registered Users, Subscribers Posts: 4,780 ✭✭✭ hometruths


    Cute Hoor wrote: »
    The WSB guys surely aren't going to be buying a few physical ozs, costs associated with buying and selling, the effort & delay in buying and selling, presumably these are zero fees push button instant type guys

    Well somebody seems to be buying it...

    https://twitter.com/TheLastDegree/status/1355793686123184128

    https://twitter.com/Pats12P/status/1355786832882098181

    https://twitter.com/TheLastDegree/status/1355782343668207618

    Lots of dealers reporting either out of stock, or unprepared to accept orders until market opens - i.e they are not going to sell at Friday's closing price because they think market is going to jump at the open.


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  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    You won't cause a short squeeze by buying SLV, it's t&c say it can hold paper promises.
    It's on etoro if you want to spread bet on it.


  • Registered Users Posts: 36 TheBetsy


    You won't cause a short squeeze by buying SLV, it's t&c say it can hold paper promises.
    It's on etoro if you want to spread bet on it.

    I'm thinking $PSLV is the way to go for shares. Price is based on real holdings of silver. Additionally, buying some silver on revolut which according to Revolut is backed by real physical silver held by a custodian. You can buy silver on revolut at the weekend at Friday close spot price


  • Registered Users Posts: 10,905 ✭✭✭✭ Bob24


    3+1 ways to own physical silver:

    1) If you want an ETF backed by physical silver, PSLV is the most renowned one (issued by Sprott which is a big player in precious metals). Another option is ZSIL (which is backed by physical silver held by very solid Swiss bank).

    2) If you want to own physical silver under your name but without having to store it yourself, bullionstar.com has very good service. They'll sell/buy to/from you and store it for you in their vault in Singapore if you like. Of course storage isn't free. But if you are buying an ETF you'll be paying for storage as well (the amount of silver corresponding to one share of the ETF is slowly reduced in order to cover the storage cost). This is the one I would recommend but you will find other websites offering the same kind of serve if you don't like that one.

    3) If you want to take delivery in person and store it yourself, there is a place called Merrion Gold in Dublin which sells silver coins and bars (and will also buy back from you (obviously with a spread). Or many online shops shipping silver by post (they all seem to be going out of stock this weekend, but I suspect this is temporary while they are restocking and waiting for future contract to start trading next week to be more clear on what the price should be).

    +1) I guess a 4rth way is to hold mining stocks but it isn't quite the same thing as holding the actual metal. Two companies I like are Fortuna Silver Mines (FSM) and First Majestic Silver (AG - the WallStreetBet crown seems to be aiming that one for a short squeeze, but only with minor success to date).


  • Registered Users Posts: 10,905 ✭✭✭✭ Bob24


    TheBetsy wrote: »
    I'm thinking $PSLV is the way to go for shares. Price is based on real holdings of silver. Additionally, buying some silver on revolut which according to Revolut is backed by real physical silver held by a custodian. You can buy silver on revolut at the weekend at Friday close spot price

    TBH I haven't checked, but I would be surprised if the thing on Revolut was backed by the physical thing. Most likely it is some kind of derivative.


  • Registered Users Posts: 36 TheBetsy


    Bob24 wrote: »
    TBH I haven't checked, but I would be surprised of the thing in Revolut was backed by the physical thing. Most likely it is some kind of derivative.

    Kind of sceptical of it myself but who knows, this is from their t's and c's anyway "The precious metals held by Revolut users on the Revolut app are backed by real precious metals that we buy and hold with a secure financial institution."


  • Registered Users, Subscribers Posts: 4,780 ✭✭✭ hometruths


    TheBetsy wrote: »
    Kind of sceptical of it myself but who knows, this is from their t's and c's anyway "The precious metals held by Revolut users on the Revolut app are backed by real precious metals that we buy and hold with a secure financial institution."

    I guess it must be at least hedged in some way. I bought some on Revolut today after reading that the bullion dealers were reporting massive sales yesterday. Revolut were still selling at Friday’s close price whereas dealers would not. That suggests it might gap up tonight, decent risk/reward imho


  • Registered Users Posts: 36 TheBetsy


    schmittel wrote: »
    I guess it must be at least hedged in some way. I bought some on Revolut today after reading that the bullion dealers were reporting massive sales yesterday. Revolut were still selling at Friday’s close price whereas dealers would not. That suggests it might gap up tonight, decent risk/reward imho

    I was thinking the exact same thing but nearly seems too good to be true?! 😅 Time will tell i guess


  • Registered Users, Subscribers Posts: 4,780 ✭✭✭ hometruths


    TheBetsy wrote: »
    I was thinking the exact same thing but nearly seems too good to be true?! �� Time will tell i guess

    It does that!

    But have been investing in gold and silver for a while and happy to hold a little more in Revolut if all this squeeze turns out to be hype.

    On the other hand, more than once I’ve held back thinking, that just seems too bloody obvious a trade, only for it to turn out to have been just that!

    I’m expecting price will pick up tonight and then get slammed, but think it won’t get slammed too far below Friday’s close. This will be rinsed and repeated for a few days. It will then pick up real momentum later in the week.

    In WSB style I should add don’t listen to me, this is not financial advice, more than likely I’m wrong because I’m just a retard who likes silver.

    But...

    YOLO


  • Registered Users Posts: 2,700 ✭✭✭ cronos


    Looks like it's not possible iShares Silver Trust on Degiro. See the following.

    "Due to the new PRIIPS legislation, as of the 2nd of January 2018 a number of products are now unavailable for European investors. Following the change, all advanced products such as derivatives and ETFs must have publicly available from the provider a Key Investor Information Document (KIID) in any language or a Key Information Document (KID) in the local language of the investor. Products which do not meet the KID/KIID requirements are longer available for European investors."


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  • Registered Users Posts: 105 ✭✭ Craig_David


    what about the wisdom tree ETP on Degiro?

    Objectives:
    WisdomTree Physical Silver is designed to enable investors to gain a simple and cost-efficient way to access the silver market by providing a return equivalent to the movements in the silver spot price less the applicable management fee. The product reflects the performance of the underlying spot price such that.
    Securities in this ETP are structured as debt securities and not as shares (equity). They are traded on exchange just like shares in a company. This ETP is backed by physical allocated Silver held by an independent custodian, HSBC Bank plc. Only metal that conforms with the London Bullion Market Association's(LBMA) rules for Good Delivery for gold and silver can be accepted by the custodian. Each physical bar is segregated, individually identified and allocated.


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