Silver Is On A Tear Today

Bitcoin looking better down to $83k

 

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I’ll be buying SLV on the way down. Just not yet.

 

Hello weasel

 

What goes up that fast also falls that fast. The sky is not falling and building a base will be healthy long term.

 

Man they shaved off a week of gains. Lol

 

It will be interesting to see if any short positions get covered in this drop.
Last drop showed no short positions covered.

 

I hate Zucchini. Love Zecchini

AV 105 Zecchini, Doge Alois Mocenigo IV
weight 365g. 70mm. .986
Wish I could afford that for my collection Again lack of funds

 

I think some of the Bitcoin people are converting back to the barbarous relics of gold and silver

 

If I was a betting man my money would be on a BIG bounce UP next week.

 

Not barbaric, the opposite refined, nothing more beau tifull then a gold coin.

 

Maybe one more swoosh down Monday and Tuesday. My trading account is 100% cash. Just waiting to buy on the way down.Again. Supply and demand will figure it out between them, like siblings.
My physical is down by design. I’m old with no heirs. Still, I could live off my physical for a couple years. Or maybe a bigger boat. What’s a boy to do?

 

Maybe. But explain this? I can't. You can toggle between silver and gold. Spot silver is $122. I don't know if their market is closed though.

https://metalcharts.org/shanghai

 

I'm pretty sure their market closes early in the morning US time.

 

I have no idea, but I saw their ticker move. Still quoting $122 though. Gold is roughly 5200.

 

Silver at $90.72 at this moment. What is happening?

A 20.77% drop just this morning.

 

I'm adding to the stack when this settles.

 

A 20 to 40% pullback was expected at some point. It will consolidate when they are done, and move higher.

 

Or maybe not move down that far. Sunday evening is going to be interesting when Shanghai opens their market.

 

I think today's collapse is three fold. 1) nothing goes straight up, nothing 2) Silver futures wobbled on the appointment of a new FED chair, nobody knows what will happen with that, all markets hate uncertainty. 3) A lot of silver futures traders that lost their azzes shorting doubled down on their losses today by shorting more. That is even more fuel for the ride back up again. When gamblers do that, they usually end up with both legs broken.

PMs are still in short supply, nothing has changed from yesterday. I don't play the ETFs or futures game so I'll sit back and make some popcorn.

 

$85.81 at this moment.

Very glad I sold last Saturday at ~$101/toz.