Silver's on the move!

It's moving around alright. I sold a few ounces last night when spot was $19.09. I woke up this morning and it was at $19.69. Now it's back down to $19.14. Crazy past 12 hours or so. It did hit $19.79.

 

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Isn't today the SDR/yuan takes over world day?

 

Had to pull this thread up because silver has not been getting crushed lately, it's on the move!

 

And back down to $17.02. Crazy.

 

Every time you or I point out it's moving it drops lol

 

Friday is option expiration date, with silver up, any traders don't want to get out too late like tomorrow or Friday, they either cashed out or rolled it over to next month. IMO.

 

Something else is going on this Friday too

 

Yeah, It's weird. Down to $16.94 as I type.

 

I am not sure what you are talking about. Could you explain more?

 

You would expect a corresponding rise in stocks if that was the reason.

 

Predicting the market is 50/50. Maybe if you're really good you can do 55/45, but how many times do we see "correlations" not go as expected? I just jump in and then adjust accordingly.

 

Each month has an expiration date to settle options on the price of silver ( so called paper trade). If a trader has bought Call options, he wants to either cash it out ( If silver has had a uptrend) or 'roll over' the trade to the following month buy simultaneously selling the expiring one and buy a new one a month down the road for the price difference and margin amount. The reverse for Put options which bet it goes down. The 20th is the date for this expiration, but the last date of trading is Friday, so if the trader hasn't done anything, he lost it. Some feel from the movements of the POS that it is going down more before Sat., they cash or roll over. If they wait until Thursday, or horrors Friday, they are at the mercy of the market, so many start early. If silver is down tomorrow, it will probably increase that loss on Friday.But of course, world events do not always follow the calendar.

 

Thanks for the explanation. I am in stacking mode so is Saturday when the dust settles? I plan to buy some more silver.

 

the weekend looks to be a good time. Unless some political tweet upends it.
I can't believe there's been a 50 cents drop so quickly.

 

I've stacked a lot this month, looks like I'm headed to the coin shop Saturday. Want another roll of 90% quarters.

 

it will have to get alot higher than it is to make me happy and i dont see any time soon not like when the hunt brothers tried to corner the siver market and it was up close to 50.00 mark to get a few dollrs more is not for me i want lots more thats why gold is a better investment for me as i can make fast quick money where silver is just peanuts to me

 

Silver or gold, doesn't really matter as they are 2 representatives of the same metal group. Gold is more financially condensed, but most generally they move in the same average direction as the active S/G ratio tends to maintain the direction. Physical metal is of course always a problem if planning to use as a true investment (BUY/SELL) to increase maximum return, as physical is sometimes hard to buy or sell, as dealers will be trying to do the same things as you, so the margin will be in their favor not yours. No one can make quick fast money, until they sell, and physical will be hard to do either in a strong up gain or strong downfall. With options/futures, one can ( if they wish to spend the time to learn) immediately convert to cash which can balance any losses when trying to find a dealer to take your bullion at a rate you think is fair.

I seriously doubt that $50 silver will come in the next 10-20 years unless The US $ dumps horribly as the Hunts were under different laws at the time they began to corner the silver market , and such were changed so they could not continue. After he was banned from trading commodities in 1989, he decided to try and corner the market on Water from the Colorado river that flowed through the farms of imperial county. At that time the water rights went with the farmers land acreage, so they bought huge acreage and fallowed it to sell the water attached to the acreage to the Metropolitan areas on the coast : San Diego, L.A , etc. The laws were once again changed or re-interpreted so the water belonged to the Irrigation districts, who since has made deals themselves with the coastal cities. The Hunts were intelligent or had such lawyers , they recognized gaps and used them, but they did not have the right connections, Judges, Congress, Executive and Legislative , etc.