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Recyclersteve wrote:Also- I like how the title of this thread was changed to: "Silver @ $16 and volatile" (as opposed to "up" or "down")

I thought volatile was more fitting for the past month.

btw strike is 18.00

Recyclersteve wrote:

bankmining wrote:

1E7D9016-0BBB-432D-AA2D-C0B0A255996E.gif

This just show how easy it is to manipulate the price of silver during non-market hours. I've seen too many spikes and crashes over the years (conveniently when the market is closed, of course) to even get excited about this anymore.

And it never seems to end. The guys getting arrested/charged with PM manipulation are the bottom of the food chain. Central bankers and the Fed are the chief manipulators here... they never go to jail.

IMO, it's going to take an "event" to get the PM prices up substantially and keep it there.

I don't think we see Ag going over $18 again until 2020. Still hoping for sub $16.50 (even lower) to accumulate more.

Cu Penny Hoarder wrote:

Recyclersteve wrote:

bankmining wrote:

1E7D9016-0BBB-432D-AA2D-C0B0A255996E.gif

This just show how easy it is to manipulate the price of silver during non-market hours. I've seen too many spikes and crashes over the years (conveniently when the market is closed, of course) to even get excited about this anymore.

And it never seems to end. The guys getting arrested/charged with PM manipulation are the bottom of the food chain. Central bankers and the Fed are the chief manipulators here... they never go to jail.

IMO, it's going to take an "event" to get the PM prices up substantially and keep it there.

I don't think we see Ag going over $18 again until 2020. Still hoping for sub $16.50 (even lower) to accumulate more.

I doubt they will ever go to jail. The reason they manipulate the silver market is to ensure FRN hegemony. Can't have the masses switching to hard money and losing demand for FRNs. Those who can prosecute them are utterly dependent on them for control. I don't doubt that China, Russia, and India all have enough gold to come out sparkling after a market/currency collapse, any one of which could institute a gold backed currency to end the fiat games in short order if so inclined. What reasons they have for not having done that already, I don't know, but I'm thankful for the continued buying opportunity. Maybe they are too, but China sure is a dystopia these days.

Looks like Sandy Claws is delivering 18/oz silver this morning.

Rodebaugh wrote:Looks like Sandy Claws is delivering 18/oz silver this morning.

See that... you jinxed it

Cu Penny Hoarder wrote:

Rodebaugh wrote:Looks like Sandy Claws is delivering 18/oz silver this morning.

See that... you jinxed it

By the daily chart it looks like there were some heavy hitters duking it out at $18 with the sellers being adamant about not letting the price stay above that mark. They always try to keep the price low at year end before portfolios get shuffled by the ostriches.

InfleXion wrote:

Cu Penny Hoarder wrote:

Rodebaugh wrote:Looks like Sandy Claws is delivering 18/oz silver this morning.

See that... you jinxed it

By the daily chart it looks like there were some heavy hitters duking it out at $18 with the sellers being adamant about not letting the price stay above that mark. They always try to keep the price low at year end before portfolios get shuffled by the ostriches.

I was joking about the jinx.

I only keep track of the daily price because I'm looking to accumulate more when/if the price gets smashed. Over the long term, PM prices will only go up. Every other asset class is VERY overvalued and/or a bubble. Silver is an undervalued no-brainer. Timing is everything. When PMs turn into a bubble, that's when you let some go... BUT that's only if the financial system stays intact. Eventually though, it will ALL come crashing down. With the amount of manipulation and propping of the system happening these days, most of us could be dead by the time that happens.

No jinxing......only mooning.

Silver is still kissing $18ish. So far so good.

Recyclersteve wrote:Silver is still kissing $18ish. So far so good.

This Iran stuff is going to really shake up the stock and PM markets. Just watch.

When the futures open up tonight at 6pm (1/5/2020), I expect a gap-up in PM's (especially Au), and a large gap-down in the markets.

The stock market was long overdue for a major correction. Investor sentiment has been way too bullish in 2019, especially during the last couple months. The investor sentiment gauge was at "extreme greed"... the highest it's ever been before.

Cu Penny Hoarder wrote:

Recyclersteve wrote:Silver is still kissing $18ish. So far so good.

This Iran stuff is going to really shake up the stock and PM markets. Just watch.

When the futures open up tonight at 6pm (1/5/2020), I expect a gap-up in PM's (especially Au), and a large gap-down in the markets.

The stock market was long overdue for a major correction. Investor sentiment has been way too bullish in 2019, especially during the last couple months. The investor sentiment gauge was at "extreme greed"... the highest it's ever been before.

That is my thinking Steve.

I still have 30 contracts of SLV calls Strike 18 Leaps.
A paltry 1000 shares of Ford
and the balance in Cash.

it's the wierdest my portfolio has looked in a while.

Rodebaugh wrote:

Cu Penny Hoarder wrote:

Recyclersteve wrote:Silver is still kissing $18ish. So far so good.

This Iran stuff is going to really shake up the stock and PM markets. Just watch.

When the futures open up tonight at 6pm (1/5/2020), I expect a gap-up in PM's (especially Au), and a large gap-down in the markets.

The stock market was long overdue for a major correction. Investor sentiment has been way too bullish in 2019, especially during the last couple months. The investor sentiment gauge was at "extreme greed"... the highest it's ever been before.

That is my thinking Steve.

I still have 30 contracts of SLV calls Strike 18 Leaps.
A paltry 1000 shares of Ford
and the balance in Cash.

Props to you for hanging in there. PMs should have a nice move up this week. Oil too.

CORONA fears pushing up PM's.

As I write this...

Au = $1644
Ag = $18.55

However, PMs should be going up because of Fed money printing, not because of a virus pandemic.

Cu Penny Hoarder wrote:CORONA fears pushing up PM's.

As I write this...

Au = $1644
Ag = $18.55

However, PMs should be going up because of Fed money printing, not because of a virus pandemic.

I agree. Wasn't that long ago when silver jumped to $19.60 after the Arabian oil fields were bombed and then quickly retreated back to $17. The same will likely happen again once this virus issue subsides.

Agree it is largely virus related. It is possible it is a short term blip. But that depends on the impact of the virus doesn't it.

Pandemic response is (regardless of the actual effect) always worse than the effect. People panic and do stupid things like stockpile toilet paper to use for unavailable masks. People are still debating the effect of this virus (no matter what label you put on it). We may not know the full effect of it for 6 to 12 months. It is clear that it spreads quickly - a cruise ship in a nominal quarantine became a complete hot spot. It appears to have multiple vectors for spread opportunities. A large number of people appear to be only mildly affected, but the effect in the remaining 20% is very serious with 10-15% of those dying. It appears to affect men worse than women and the elderly and those with existing conditions worse. It could easily continue to morph into an even more deadly or transmissible version and come back in the fall even if they get a handle on it before summer.

Not scaremongering but people need to think rationally for themselves and not believe necessarily everything the government tells you.

The economic impact is just starting to be felt and even if they could instantly stop it and cure everyone currently effected the rolling wave will still be felt months from now.

So don't look for this to be a quick blip.

Silver now $16.62 today down $1.14.

Looks like it wants to dip below $16

Margin calls on everything else are hitting PMs and for futures traded PMs that has a knock on effect of causing selling when people actually don't want to sell. They will recover just fine. Let them go down. If you have cash there will be a good time to buy, but PMs are still not cheap.

Some stocks like Boeing are heading toward cheap. Another 20% down on BA and I might jump on. They were at 450 not long ago, hit 160 this morning. They get to 120 and I'll be trying to find some dry powder (unless they have a new technical screw up).

68Camaro wrote:Margin calls on everything else are hitting PMs and for futures traded PMs that has a knock on effect of causing selling when people actually don't want to sell. They will recover just fine. Let them go down. If you have cash there will be a good time to buy, but PMs are still not cheap.

Some stocks like Boeing are heading toward cheap. Another 20% down on BA and I might jump on. They were at 450 not long ago, hit 160 this morning. They get to 120 and I'll be trying to find some dry powder (unless they have a new technical screw up).

It's 2008 all over again. $13 or 14 would be a gift. I have cash ready to buy real assets on the cheap.

A bear market rally may be close, but the stock market is nowhere near "the" bottom yet. Caveat emptor.

But who will sell physical at those prices?

Changechecker wrote:But who will sell physical at those prices?

3.....2.....1...... Not it! (finger on nose)

Just put my $ where my mouth is...

Got 300 more Ag ounces today at $14.60.

Gotta love exchanging corona contaminated green papers for a real asset!

A real asset that also kills germs!

Sub 13......good luck finding any physical for less than 16.

Welcome to the shitshow.

Unbelievable buying opportunity right now if you can get it... don't have cash, use a credit card... just get some!