Silver short squeeze WE PUMPIN OVER HERE GET ON BOARD

Mucashinto · 01-02-2021 6:27pm

Nonoperational wrote: »

Surely a massive silver price increase is bad news for the many consumer and industrial products that use silver?

Depends on perspective I suppose. They'll certainly cost more, whether this = "bad" will be a subjective value imo.

Bobeagleburger · 01-02-2021 6:29pm

The title is surely misleading? Can there actually be a short squeeze on silver?

If anything Hedge funds go long on Silver.

TheBetsy · 01-02-2021 9:11pm

Well lads did anyone make any moves today?

Rob2D · 01-02-2021 9:22pm

TheBetsy wrote: »

Well lads did anyone make any moves today?

I bought a couple bars over the weekend for the craic. I'll hold it for the year and if it goes up, great. I'll change it into gold/crypto.
If no change ever appears on the horizon then I sell it back. It's not like the price will go down much.

patsy_mccabe · 01-02-2021 9:39pm

TheBetsy wrote: »

Well lads did anyone make any moves today?

Well, I got my popcorn.

Thelonious · 01-02-2021 9:56pm

The banks are taking a break from ****ing the miners of silver.

They are now turning their attention to ****ing the industrial users of silver.

An Ri rua · 01-02-2021 10:08pm

6 wrote: »

The title is surely misleading? Can there actually be a short squeeze on silver?

If anything Hedge funds go long on Silver.

The title isn't misleading if referring to Reddit WSB.

There could most definitely be a short squeeze on a silver share or two. Eg First Majestic. If the short positions are extreme they'll have a go. And then hedge funds will join them.
But shorting silver itself is an almost impossible task. Citadel are long on silver I believe. It could serve them well for the WSB crowd to get distracted from GMD and AMC etc.
It could be just the butterfly wings to kick off chaos in the markets. But probably a bit pre-emptive yet.

Bobeagleburger · 02-02-2021 8:08am

An Ri rua wrote: »

The title isn't misleading if referring to Reddit WSB.

There could most definitely be a short squeeze on a silver share or two. Eg First Majestic. If the short positions are extreme they'll have a go. And then hedge funds will join them.
But shorting silver itself is an almost impossible task. Citadel are long on silver I believe. It could serve them well for the WSB crowd to get distracted from GMD and AMC etc.
It could be just the butterfly wings to kick off chaos in the markets. But probably a bit pre-emptive yet.

Were specific silver mining stocks called out though? People are buying silver, even physical..

Not sure the same people organized this one. Citadel the hedge fund are loving this silver surge, they are making hand over fist on it. Probably covering their GME losses comfortably.

02-02-2021 11:24am

I sold my small (very) holding of silver yesterday for about a 8/9% profit.

Mucashinto · 02-02-2021 12:33pm

Bought more yesterday. Well, I signed up to bullionstar and sent the money last night but it doesn't seem to have arrived yet so not sure if they'll cancel and I'll have to redo. Doesn't look like it will have gone up in price anyway.

Think I'm just investing in these things out of pure reactionaryism at this stage tbh, not sure I care anymore. Just a futile attempt to 'do something' in these absolute ****show times. You make more money being positive than negative so I should be in investing in drones or something but I really don't care. Whole situation feels like Berlin 1938 but with a war that will never actually start. Flash forward 17 years and everybody's still stuck inside online talking about what they'll do 'when things get back to normal'.

EDIT: Catching up on the GME situation in the other thread and I have no idea what's going on there tbh. Hope the investors really have the over-shorters on the ropes though and they get what they deserve.

Akesh · 02-02-2021 6:56pm

You aren't seeing a short squeeze on Silver. I'm always skeptical when hedge funds promote something and then the media and analysts all start talking about it. People believing there is a silver squeeze drove up the price and now we are seeing it back in and around where it was.

I think Silver is slightly undervalued but I would be waiting until it's back @ ~$18/oz before jumping in.

OTG · 03-02-2021 3:06pm

The upward pressure in silver price is going to come from physical pressure. Every oz that's taken off the market will force the retailer, wholesaler, manufacturer to hedge with the COMEX. The US retailers were forced to halt sales on Sunday due to being caught sub hedged by the unprecedented weekend supply when the paper market was closed (Fri-Sunday night). Imagine you're a retailer with 20,000 oz in stock, you're ave weekend sales are 5,000 oz. Last weekend happens and you've made 20,000 in sales. You wake up on Monday, you've sold all your stock and the resupply price has gone up with the wholesaler 10%. You've only hedged 1/4 of your stock so your resupply costs are going to cost you big.
Look at what happened spot went from 27 to 30 dollars and on Tuesday dropped back to sub 27. Compare this to what happened in a coin shop. Sunday afternoon when spot was 27 you could buy a coin for 33.10. During the Sunday spike, spot hit 30 and the coin hit 41 dollars. Then Tuesday when the Spot price hit 27 again the coin price went back to 37.85dollars.

As you can see the physical price and the spot price have diverged due to a physical supply issue. Eventually the limited supply of invest-able physical silver will get drawn down to a level where the big manufacturers (solar/electronics....) seek to secure their supply at a reasonable price. Maybe even a sovereign or 2 gets involved . This could gather pace with every surge in spot and slam down. Over 2bn oz of silver were traded on the COMEX yesterday (2x yearly production), a record to move the price back down $3, next weekend it may take 4bn. It's a delivery month so bars are leaving the COMEX every day. What happens when they opt to settle only in Cash, Increase Margin Requirements,Ban buying like they did to the Hunt Brothers. It's not a hedge for silver any more as it's unobtainable at this price. The Silver market will then move to a cash market and true price discovery will occur for the first time in 150 years.

Hold on with Diamond Hands

An Ri rua · 03-02-2021 4:03pm

6 wrote: »

Were specific silver mining stocks called out though? People are buying silver, even physical..

Not sure the same people organized this one. Citadel the hedge fund are loving this silver surge, they are making hand over fist on it. Probably covering their GME losses comfortably.

And that's why it's being framed on various fora as a honey trap for Redditors to take pressure off GME. Kitco have a video about this.

OTG · 03-02-2021 5:30pm

Bobeagleburger · 03-02-2021 6:16pm

An Ri rua wrote: »

And that's why it's being framed on various fora as a honey trap for Redditors to take pressure off GME. Kitco have a video about this.

I wouldnt touch Silver tbh. It's a bubble and will fall considerably. Rinse and repeat.

An Ri rua · 03-02-2021 11:54pm

6 wrote: »

I wouldnt touch Silver tbh. It's a bubble and will fall considerably. Rinse and repeat.

Silver is going nowhere except up up up over 2021 and beyond. Money is never a bubble. It's everything else that is losing value. Your perspective is, along with the masses, 100% wrong and the year end will prove that out.
For now, with this transient interest, anyone trading could lose their shirt. But anyone buying and holding (I'm stacking coins and antique silver since 2009 and now digital allocated silver) will come up trumps in a big way. For so many reasons. Fear, industrial long-term demand re green deal, industrial short term demand (outflow of physical), and the unwinding of manipulation. Possibly by those who instigated it.

I regurgitate the news · 05-02-2021 2:18pm

Akesh wrote: »

I think Silver is slightly undervalued but I would be waiting until it's back @ ~$18/oz before jumping in.

$50 USD in 1980 for the second most used commodity after oil.

It is incredibly undervalued. The problem is the manipulation.

OTG · 09-02-2021 7:53pm

“Houston, we have a Problem”: 85% of Silver in London already held by ETFs.

http://https://www.bullionstar.com/blogs/ronan-manly/houston-we-have-a-problem-85-of-silver-in-london-already-held-by-etfs/

OTG · 09-02-2021 7:55pm

The Cat’s out of the Bag ......Ted Butler

http://https://silverseek.com/article/cats-out-bag

OTG · 11-02-2021 10:27pm

Bad link
https://www.bullionstar.com/blogs/ronan-manly/houston-we-have-a-problem-85-of-silver-in-london-already-held-by-etfs/

OTG wrote: »

“Houston, we have a Problem”: 85% of Silver in London already held by ETFs.

http://https://www.bullionstar.com/blogs/ronan-manly/houston-we-have-a-problem-85-of-silver-in-london-already-held-by-etfs/

OTG · 11-02-2021 10:28pm

Bad Link

https://silverseek.com/article/cats-out-bag

OTG wrote: »

The Cat’s out of the Bag ......Ted Butler

http://https://silverseek.com/article/cats-out-bag

Craig_David · 10-05-2021 1:36pm

Silver looking very strong the past couple of weeks. Hopeful of it breaking 30 in the coming weeks
The Reddit SilverSqueeze crowd seems to be growing larger by the day.

An Ri rua · 10-05-2021 9:49pm

Craig_David wrote: »

Silver looking very strong the past couple of weeks. Hopeful of it breaking 30 in the coming weeks
The Reddit SilverSqueeze crowd seems to be growing larger by the day.

Can you fill me in?

Silver short squeeze WE PUMPIN OVER HERE GET ON BOARD

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