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Looks like we may see a pull back in silver today.
Cheers \_/
Just a few more pennies and I will feel better about it running up again
Cheers Buds \_/
And looking even better now right! This is poised to explode IMO
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Are we seeing the beginning of that hard break today?
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Buying pressure building today!
Cheers Buds \_/
Very strong day for silver here.
Cheers Buds \_/
They will have to settle the rest with cash IMO as fare as price, well that's a lotto ticket that I have a few of Lol...
The music has been playing so long that I cant even picture it stopping.
Cheers Buds \_/
That's kind of a trick question isn't it
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That's awesome! Lol...
Starting to line up myself for another load but just not quit ready yet, I would rather see it break up another $1 or so first.
Cheers Buds \_/
Dig up any inside silver news of late?
Cheers Buds \_/
Looks to be building a new base here at $21
There is a load of upward pressure on it right now IMO
Cheers Buds \_/
Starting to do a little shopping but it looks like all the .79 .89 over spot deals are gone! Lol... I'm really don't need 5000 oz right now
Cheers Buds \_/
P.S. You ready for the next move in silver?
I don't like to sound barbaric but the term "up the irons" comes to mind
Cheers Buds \_/
Agreed, last minute pull back today but not near what I was expecting. Might see some blue skis next week IMO
Cheers Buds \_/ and Happy Friday
A short squeeze in the silver market is pushing prices profoundly higher, the consequence of which could be felt for years.
All told, the month of June has witnessed silver rise by over 12%. But the truly aggressive price action began exactly a week ago – with a single-day move from $19.81 to nearly $21.
Short squeezes occur when short sellers close their positions with a heightened sense of purpose and haste.
Such behavior can cause prices to move sharply higher. That is, since closing a short position requires one to buy shares.
The increased buying – and subsequent higher prices – force other short sellers to close their positions, too.
Before long, a full-blown short squeeze has commenced, which is exactly what’s presently happening in the silver market.
Silver’s short squeeze, however, has far deeper implications than a short-term bump in prices.
Short squeezes oftentimes signal profound shifts in the underlying sentiment in the market, and sentiment is among the most unheralded contrarian indicators…
Extremely bullish sentiment is a warning signal that the market might be fully saturated, as in, there’s no one left to buy. So when sentiment is at/near all-time highs, the prudent investor will consider tightening his sell stops and taking profits.
Conversely, extremely bearish sentiment can signal a market ready to reverse. And when sentiment is at/near all-time lows, the prudent investor will consider some strategic buying.
I believe silver is experiencing such a sentiment shift right now.
Me and Mr. B just watched that, we like that guy
Cheers Buds \_/
P.S. we need to get him as a guest poster on here Lol...
Think we may see a silver bash in the AM Friday! any thoughts?
Cheers Guys \_/
I always need more
Looking good right now! Need about .25 more by close IMO.
Cheers buds \_/
Getting the pull back tonight, when I first opened the chart I was thinking silver is getting it ass handed to it
Down about .30 right now but I was expecting it, now if it doesn't base out and then run up a buck or two I will be surprised Lol...
Cheers Buds \_/
I didn't say don't buy it, I said we may see a pull back! It looks like that was it
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Silver just over $21
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Magic 8 ball says "Sees big run in my future" what's that mean?
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What about Cuba? Just curious, you seem to be in the know!
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Gaped open yesterday after noon and then filled the gap. Now it is showing as being down even though the current price is above Fridays closing price! Lol...
I have seen a number of closes painted but an open?
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God, that could cover a whole list of stuff Lol...
Spot on IMO
Cheers Buds \_/
It's been a while but I'm getting excited about silver again!
The next few months should be a fun ride either way IMO
Cheers Buds \_/
They make valid points that make me feel like i don't hold enough silver! lol...
Great post! Cheers \_/
I like this take on it
They say the third time's a charm - and if the narrowed range that has confined silver over the past two years is any indication, those participants patient enough should be rewarded handsomely for their extended stay on the long side of the field. Going into this month, silver was presenting a third iteration of the patterned reversal - with all of the positive momentum trappings that had defined the previous two.
Adding fuel to the fire and despite the fact that silver had maintained a bid above last years low, those late to the short-side of the tracks or holding more dogmatic persuasions had built up a dangerously large short position almost 50% above last years record congregation. Meanwhile, the disinflationary macro backdrop that had filled the sails for the shorts over the past three years had shifted 180 degrees and was now blowing firmly out of the south. Preaching from the pulpit we would caution - beware the fury of a patient position.
We would also caution anyone connecting the recent moves in precious metals directly to the latest geopolitical concerns in the Middle East, because the typical performance markers of those special situations are simply not present. Namely, the silver-gold ratio has been trending higher - which is more indicative of a reflationary bid than fear. Typically, in a geopolitically driven move, gold will strongly outperform silver as a safe-haven reaction to those concerns. While the recent events have likely helped provide additional catalyst for the sector, silver and gold remain under the influence of a much broader narrative. To a large degree this is the mirror of the cycle, whereas, the killing of Osama Bin Laden in May of 2011 provided the prick that popped an overextended market.
Our market strategy is formed from a more proactive than reactive posture, because we typically take a longer-term view on markets and the spectrum of backdrop conditions they appear in the foreground to. This isn't to say that when conditions and information change we don't adapt - we do, but that we allow a wider berth of perspective when evaluating a position. This is one of the primary differences between how we weigh a market or asset and how a more classical technician reacts to price.
The bottom line with respect to silver and the precious metals sector in general, is that conditions have only improved in the space over the past year - while their respective market structures has been trending to resolution. Anyone that has followed the broader narrative behind the sector and not just the daily machinations—namely the macro backdrop in long-term yields and the propellent currency markets upstream—would have come to a similar conclusion that the precious metals sector has remained very attractive.
much of it about to get dropped
So what do you think is controlling this ratio? I have never really put a whole lot of thought into it myself but it looks like time I did
Cheers Buds \_/
I guess that would be one way to close the ratio, gold keeps going in it's down trend and silver breaks out!
It would kind of make since if you think about it. China, Russia, looking to back there currency with gold so it just keeps getting hammered while silver is left to do what it wants/un-manipulated. Stranger sh!t has happened
Cheers Buds \_/
I have quarters that I got for a quarter! I also have some big bars that I payed $40 an oz for I unloaded a lot of my hoard @ $34 and just started reloading @18.80 my average is around 22? I think.
Cheers Buds \_/
I doubled my stack @ 18.80
would I do it today? NO Lol... would see a little pull back here or maybe I'm way off and it goes $26 on Monday but I just dont think so.
Now on the other hand 100oz piece would be really cool at any price IMO
Cheers Buds \_/ and welcome to the board!
SILVER TECHNICAL ANALYSIS
Silver’s ascent has stalled at the 61.8% Fib Retracement Level, which may prompt a slight retreat to support at 20.40. However, with the uptrend intact (signaled by the Rate of Change indicator and 20 SMA), a correction would be seen as an opportunity to enter new long positions. A daily close above 20.80 could open up a run on 21.66.
Cheers \_/
I'm going silver
Right now, looking at the chart we have resistance in layers one after the other from here at every dollar to $25 so I'm thinking that when it pulls back it makes a higher low. then again it's silver and when did it ever do what the chart said it would do? Lol... might just power through it all.
Cheers Buds \_/
So now our terrorist, I mean isis are going toe to toe with Russia
WWiii is going to be in Iraq?
That looks like a brick wall IMO if it can make it through today it should be fairly free for a while.
Cheers Buds \_/