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Yes the markets are completely controlled until the controls fail. Such was the case in 2011. After the 2008 housing crises, silver plummeted just as it did last year with Covid. Then when it recovered it broke past previous highs and the large short positions on the futures market capitulated and got squeezed out so they let it run high enough to absord their physical positions on the way back down. History repeats, but in this case the time is compressed and the movement is amplified... by several factors including increased industrial demand, global monetary debasement and the rise of social media.
Here's one way "they" do it, and I've been told this by two different refiners. A Chinese "businessman" will appear out of nowhere and contract to buy a large portion of refinery production. Then, as suddenly as he appeared, he will disappear and another one pops up. This is how China is accumulating vast quantities of gold and silver under the radar. At the same time, China shorts the futures market with almost unlimited funds to drive the price of physical down. When they or JP Morgan or other large holders think the time is right, all they have to do is cover their shorts and sit back and let it run. So a radical rise in silver wont hurt any of the central banks or large traders who are properly hedged but it could destroy those who are not on both sides of the trade.
The dealers are out or extremely short on supply. Thats a fact. They have 1000 ounce industrial ingots allocated for industrial clients, but the minted silver is gone. Look at Apmex, JM Bullion, Kitco or any dealer site. 10+ days for delivery. So how is that "fake news"?
Squeeze or no squeeze, there is absolutely a disconnect between the paper price and the physical price and I believe that discionnect will continue for some time until the market realigns itself at a substantially higher price. Normally the tail (the futures) wags the dog (physical silver), but for the time being, it's the other way around.
There's little to none below $30. All their silver are belong to us now. Seriously though, we are seeing what I call the Great Disconnect. The price of physical has little to do with the paper price now. This is unprecedented. NEVER has happened before to the best of my knowledge. As a precious metals dealer I have had coin shops call me up asking if I will sell them ANYTHING silver at several dollars over Spot.
I suspect the physical buying trend will continue and even accelerate in coming days and weeks. This is because we have figured out who these buyers are, and nobody has realized it yet... but they will. It's certainly not WSBs. I can't say who it is yet until I confirm it. Take your positions. Hold the line. A 10X move is now possible.
Frankly I'm not sure I'd want doctors or therapists hovering over me while I'm on a psychedelic... unless there was a hot tub available and clothing was optional or we're hanging out on a tropical beach somewhere. I mean seriously
Picked up a few more today.
In every city in the country there are long established coin shops and metals dealers as well as legit online dealers like Apmex, JM Bullion and SD Bullion. Lesson learned buying off somebody on Facebook.
Maybe... but in 72 hours the entire world supply of minted silver was bought up. There is no more until hodlers sell or production catches up. This has NEVER happened before. Not in 2011 and not in 1980. The global push for solar power may very well consume most of the industrial supply. The squeeze is on.
Yes that's happened in fact very few physical deliveries are taken and to actually do so requires a lot of effort. It is allowed for the futures exchange to pay out in US dollars and delivery is set aside. There's a legal term for it but cant recall it off hand. Demanding physical delivery will accomplish nothing.
However... buying and holding physical directly is another story. Already the shortfall between supply and demand has pushed physical bullion to $40 and higher.
A squeeze happened in 2011. The hedgers got caught on the wrong side of the trade and began to cover in earnest after silver recovered after the housing crises in 2008. Once silver broke the previous high it ran to nearly $50. Exactly ten years ago. This move, post Covid, is very similar looking at the charts, but it is compressed and amplified by the recent global monetary debasement and the fuel of social media. Compare the volume for SLV alone to ten years ago. This move is likely to blow past previous all time high based on current market dynamics. Just my opinion as a small metals dealer.
Maybe a pawn shop would do that but not a legit metals dealer. On small lots of coin and bullion I typically pay 85% to 90% of spot. On larger lots I pay as much as 95%. Some online dealers amy pay even closer to spot but they deal in huge volumes.
It depends on the volume you're selling mostly and how quickly you need the money. If your online dealer is paying close to spot and you're comfortable insuring and shipping to them, then thats a good plan. If you need cash immediately then a local shop is good but they generally pay 10% or more under spot.
Not exactly true... SLV certainly has some influence on the price of silver, as do options on SLV and other equities. The Futures market is the main tail wagging the dog but that is co-dependant on supply and demand as well in the physical market. Then you have the technical aspect being the monthly chart of silver, which is a SCREAMING buy by any metric.
The wild card is the global social media impact first triggered by WSBets. The world saw the power of unified but decentralized buying pressure resulting in a stunning redistribution of wealth.
The genie is out of the bottle now and won't go back.
One ounce Am Eagles at JM Bullion are available at $36.63 BUT delivery may take a week to 10 days. That means they have none at the moment.
Now Apmex has Am Eagles at $42.05 if you want a single coin.
Never seen anything like this and I've been registered precious metals dealer for 10 years. And no, I have no inventory to sell. LOL
My guess is $25 at some point if the tail wags the dog hard enough
Over the weekend the entire retail supply of minted silver has sold out. There's plenty of industrial 1000 ounce ingots but try to find an American Eagle or Buffalo at a reasonable price. The few that are still in stock have a $10 premium. That's 25% over Spot! Here's one example:
https://www.jmbullion.com/search/?q=#/?_=1&filter.instock.low=1&filter.instock.high=1&page=1&resultsPerPage=60&filter.metal_type=Silver
All their ounces are belong to us
Futures gapped up $2.00 at open
The Snowflake Clan and Boomer Clan have teamed up and are about to drive the hedge fund mammoth straight off the cliff! Tomorrow we feast!
5:00pm CST. 4:00PM MST
JP Morgan holds 53% of all transparent silver holdings. They wont fight this short purge. Nor will China who has been stockpiling silver for decades. This the BIG LONG like 2008 was the BIG SHORT
Futures price now a full $2.00 ahead of SLV. Options are set to explode
You may be overthinking the silver trade. The monthly chart is a strong buy, SLV, the futures market and now social media are three tails wagging the same dog in the same direction. Odds are it's going up near term.
Exactly! GME was a naked short squeeze like we've all seen many times in the sub penny swamp but never seen in the "normal" market. The whole notion of naked shorting has been branded a conspiracy theory for decades. Until now. Now it's biting the shorts in the ass.
But I make up for it in volume. lol
Or 5 million minds all buying the same stock. lol
I read that WSBs next target is silver so picked up at few calls waaay out of the money yesterday and profit from that is rolling back into MMEDF
This seems like the glory days of 15 or 20 years ago! Lot of hot reckless money piling in the market squeezing the sh*t out of the shorts. Its a beautiful thing to see!
Wouldn't it be wild if the short squeezers jumped on MMEDF like they've done on others of late? Likely not to happen until uplist, but if it does...
Just a little 100 share tap on the Ask and she moves 3 cents
Yeah I looked close at Compass Pathways and found some unsavory history there and the other psych stocks didn't inspire me to buy either. MindMed seems to be the most promising of the bunch. If anyone feels different please let me know as my due diligence is impaired by my lazy ass.
Please do, and thank you
True on the non toxicity of LSD and absolute non addictive properties. Only downside for some is LSD is a vasoconstrictor so people with glaucoma or circulation issues may not be able to take it. Psilocybin on the other hand doesn't constrict vessels as far as I know.
I had considered that! Neuralink and MindMed would be a natural symbiotic relationship. As human pioneers with Neuralink implants attempt to directly interface with conscious intent to the Internet, certain psychoactive compounds may prove beneficial. Whatever conscious is (and nobody really knows) everybody can agree that hallucinogens and nootropics certainly amplify it.
No. Trading normally.
Woodcock... happens every morning if you're healthy, so I'll take that as a good sign.
Nice volume out the gate. Been telling friends andfamily about MindMed. Something I rarely do.
Crazy is perhaps understating it. If the share structure stays the same and the eventual valuation of 18 MC, the "antibiotic for addiction" is $30 billion, which is not unreasonable, then the share price might be toward $130 per share. Works for me.
Interesting. Thanks for sharing!
As much as I hate the FDA, at least it's working in our favor now.
Agree totally. Oddly enough with psychedelics there's not the immediate stigma of "party drug" as there is with Cannabis. MDMA is the exception perhaps. And being brought to market as serious psychiatric treatments there will be as you point out, the insurance and pharmaceutical profit structure driving it.