Silver Is On A Tear Today

Unwinding of instruments like AGQ ETF …Deleverage Day

 

Log in or Sign up to hide this ad.

Buying opportunities abound.
Every major index is down, pretty big dips too:

DOW
NASDAQ
S&P 500
RUSSELL 2000

They've taken back every dollar of my SLV positions. And yet my bullish opinion on the short, medium and L/T outlook on SLV has not changed.

 

"I tried donating blood today. NEVER AGAIN! too many stupid questions. Whose blood is it? Where did you get it? Why is it in a bucket?"

Well, when you're going to have regular bloodbaths like this, you need something big enough to haul it in. Down almost 20% from yesterday, which wasn't all that great a day to begin with.

 

Bloodbath but holding call it a gut feeling.

 

Have fundamentals changed? Has supply/demand changed? Have rigged markets changed?

 

I’m convinced more than ever that this big sell off in metals and stocks is the calm before the storm. Panic runs in herds and the herd is moving. Sooner or later, hopefully sooner, they will get tired and run out of steam.

 

None of this selloff will eradicate the industrial demand. The sheer volume of required physical silver for AI, EV's, solar panels, medical uses, military uses, electronics, etc. far exceeds the silver mining capabilities, to the tune of millions of ounces annually. Much of this is attributable to China no longer exporting any silver. The demand remains, while the available global supply tightened.

 

Exactly! The demand has not changed. Some industries are working off of lower price stock and they will need to replenish before too long. That’s means they’ll have to buy and up it goes. Supplies are still low, mining is not up to par to keep up with the demand and refiners have their own problems. China just added to the problem and they really hasn’t had the time to show the problem of less supply.

 

I could jump in and throw some money at the market, but it would probably drop like Bitcoin
Maybe Best I stay out of it for now.

 

Dang, I should've been paying attention. Might be a few stocks I'd want to buy while they're on sale.

 

The only people who should be worried are the faux holders of precious metals, the ETFs who can't deliver actual metals. Go back and look at the stuff we talked about back in December. The huge run up happened because the manipulators got caught with their pants down. It is going to happen again, just like last time. It seems they never learn. Precious metal shadow funds are only useful to the point they are liquid and can easily be traded at the point of a click. That doesn't mean those funds actually have any value. Physical gold and silver remains king.