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It is important to remember that silver is a highly volatile metal, and even if it does reach $60 this year, it doesn't mean it will end the year there. "It is a sporadic, high volume trade. This is just a prediction on where it might trade this year rather than where it will end 2021," Deane said.
Advice on how best to invest, Deane said to own physical. "Owning physical or SLV is how I would do it."
https://www.kitco.com/news/2021-03-02/Silver-is-the-best-trade-It-s-sporadic-but-prices-could-hit-60-this-year-says-ex-JP-Morgan-MD.html
Looking to add on dips.
Chew through dem 16s. Get some ILST!
13's gone...weeeeee
12s are gone! Here we go!
Watch er run after the 12s get taken out.
A 13 on the ask now. About to BLOW!!!! :)
12s starting to appear on the ask. Hmmm...
Thanks for posting. Interesting perspective. Easy to forget FDR made it illegal to own physical gold in 1933, the Supreme Court upheld and it continued to be illegal until 1971.
Took a small position this AM. This has very promising potential with a relatively low float at this price. Good Luck all!
Just bought some more physical. Silver Eagle MS69 going for the same price as BU (ungraded). Silver market is really going haywire right now.
Go to your favorite precious metals dealer. "We cannot accept orders due to unprecedented demand".
https://www.moderncoinmart.com/silver/silver-bullion/silver-bullion-coins/
Is this the 3rd halt today? I'm loosing track.
Nice job. If the pattern holds I'd look for a breakout to start between .01 and .012.
9/17/08 IBD article:
Regulation: As the financial crisis spreads, denials on Capitol Hill grow more shrill. Blame an aloof President Bush, greedy Wall Street, risky capitalism — anybody but those in Congress who wrote the banking rules.
Such denials won't hold against the angry facts banging on their doors. The only question is whether the guilty party can keep up the barricade until Election Day.
A visibly annoyed House Speaker Nancy Pelosi rejected suggestions that Democrats share blame for the meltdown. "No," she snapped at reporters who dared ask.
Stick to our narrative, she scolded: The bursting of the housing bubble was another story of market failure and deregulation.
"The American people are not protected from the risk-taking and the greed of these financial institutions," she said, while calling for investigations of the industry.
Only, the risk-taking was her idea — and the idea of all the other Democrats, along with a handful of Republicans, who over the past 30 years have demonized lenders as racist and passed regulation after regulation pressuring them to make more loans to unqualified borrowers in the name of diversity.
They were the ones who screamed — "REDLINING!" — and sent banks scurrying for cover in low-income neighborhoods, where they have been forced to lower long-held industry standards for judging creditworthiness to make the subprime loans.
If they don't comply, they are threatened with stiff penalties under the Community Reinvestment Act, or CRA, a law that forces banks to make home loans to people with poor credit risks.
No fewer than four federal banking regulatory agencies are responsible for enforcing the law. They subject lenders to racial litmus tests and issue regular report cards, the industry's dreaded "CRA rating."
The more branches that lenders put in poor neighborhoods, and the more loans they make there, the better their rating. Those lenders with low ratings can not only be fined, but also blocked from mergers and other business transactions needed to expand.
The regulation grew to monstrous proportions during the Clinton administration, obsessed as it was with multiculturalism. Amendments to the CRA in the mid-1990s dramatically raised the amount of home loans to otherwise unqualified low-income borrowers.
The revisions also allowed for the first time the securitization of CRA-regulated loans containing subprime mortgages. The changes came as radical "housing rights" groups led by ACORN lobbied for such loans. ACORN at the time was represented by a young public-interest lawyer in Chicago by the name of Barack Obama.
HUD, in turn, pressured Fannie Mae and Freddie Mac to purchase more subprime mortgages, and Fannie and Freddie, in turn, donated to the campaigns of leading Democrats like Barney Frank and Pelosi who throttled investigations into fraud at the agencies.
Soon, investment banks such as Bear Stearns were aggressively hawking the securities as "guaranteed." Wall Street's pitch was that MBSs were as safe as Treasuries, but with a higher yield.
But they weren't safe. Everyone in the subprime business — from brokers to lenders to banks to investment houses — absolved themselves of responsibility for ensuring the high-risk loans were good.
The mortgage lenders didn't care, because they were going to sell the loans to other banks. The banks didn't care, because they were going to repackage the loans as MBSs. The investors and traders didn't care, because the MBSs were backed by Fannie and Freddie and their implicit government guarantees.
In other words, nobody up and down the line — from the branch office on main street to the high-rise on Wall Street — analyzed the risk of such ill-advised loans. But why should they? Everybody was just doing what the regulators in Washington wanted them to do.
So everybody won until everybody lost, including the minorities the government originally mandated the banks to serve.
The original culprits in all this were the social engineers who compelled banks to make the bad loans. The private sector has no business conducting social experiments on behalf of government. Its business is making profit. Period. So it did what it naturally does and turned the subprime social mandate into a lucrative industry.
Of course, it was a Ponzi scheme, because they weren't allowed to play by their rules. The government changed the rules for risk.
In order to put low-income minorities into home loans, they were ordered to suspend lending standards that had served the banking industry well for centuries. No one wants to talk about it, so they just scapegoat Wall Street. Even John McCain has joined the Democrat chorus on this.
The FBI is now investigating 24 large mortgage lenders for alleged abuses. But who will investigate the pols and the lobbyists and the community agitators who made the bad decisions that ultimately forced businesses to make their bad decisions?
I'm voting Libertarian this fall. Enough is enough.
Did the Federal Government ask the taxpayers if we wanted to buy AIG? This is nutz! First, two POS poorly run mortgage campanies and now a giant defunct insurance company. Where does it end? Is anyone else stunned? In the end, we all loose. Either taxes will have to be raised or the federal deficit increases. I am personally not happy with either outcome.
Hey Fed, Let the market play itself out and stop plugging up the holes!
There must be consequences for poor financial management. Not government bail outs!
Nice reversal today with CAT 4 likely now. Could see .075 -.09 tomorrow imho.
Looks like Ike is heading toward the gulf and could be very strong by the time it gets there early next week.
Is that the best you can come up with now?
From your earlier post:
Posted by: printmail01 Date: Monday, July 07, 2008 6:34:57 PM
In reply to: Landshark who wrote msg# 5000 Post # of 6566
How can WEGI pay to put employees and equipment into a storm damaged area? They cant even pay payrioll tax and current loans? Cash on hand is not even enough to cover current cash and payroll outlays for 60 days? When they went into Katrina they had to get almost $5million loan from Laurus that they still have not paid back and or converted yet. I dont see how WEGI could seriously even pay the bonding and insurance premiums that would be needed to do large scale remidation in a dsisaster zone.
But I know u guys dont care about all that - just flipping on the hopes that a USA disaster raises pps, hoping some really nieve investors chase this stinkie pinkie thinking it is a real company so u all can flip for profits on a disaster, and sure that could happen, pps might rise , but man WEGI is NOT a real hurricane play, they would need minimum $5 mil to chase a disaster like Katrina, WEGI can barely even pay the light bill. IMPO
Today's PR:
HOLTSVILLE, N.Y., Aug. 29 /PRNewswire-FirstCall/ -- Windswept Environmental Group, Inc. (Pink Sheets: WEGI.PK - News) today announced that its Trade Winds subsidiary is presently preparing approximately twenty (20) vehicles with generators and at least three (3) 45 foot semi-tractors trailers to leave its Holtsville location this weekend to support our Louisiana operations. This mobilization will depend on the strengthening and direction of the storm, but we have already contacted our large commercial clients in Louisiana to help support them.
Michael O'Reilly, Chairman and CEO of Windswept, stated, "The Company has, to our knowledge, the only pre-established pristine compound (with approximately 400 beds and a fully operational office with commercial kitchens and laundry facilities) in the New Orleans/Baton Rouge area and we have been there since the work we performed during Hurricane Katrina. As soon as the storm passes, we believe we will be the first Company able to assist in the recovery efforts to not only get our clients back in operation, but others as well. If you need our assistance, please contact us at our 24-hour operational Hot Line (1-800-282-8701). We have helped many during many hurricanes (Katrina, Wilma, Charlie and Ivan, to name a few). Our Baton Rouge office is also open 24 hours a day (225-667-9388). Our disaster recovery team is also available. Jeffery (516-779-7823), Eric (516-779-7053) and myself (516-779-7816)."
Sounds like they are operating just fine to me.
We have hurricanes lined up like jumbo jets in a holding pattern at O'Hare. Tuesday is going to be the MOAG and I have my ticket!!!
"BRINGING GUSTAV TO JUST BELOW
CATEGORY 4 STRENGTH BY 72 HOURS"
Remember, you may donate some of you profits to hurricane relief next week.
Uhh, this thing's not done yet. Projected patch has it back in the gulf.
http://www.weather.com/maps/news/atlstorm6/projectedpath_large.html
I totally agree. I think it will continue to slide west of the projected path. The warm water in the gulf acts as miracle grow for hurricanes. Will hit land as CAT 3 most likely IMHO.
I wonder if any newbs are getting shaken off from the bs chart.
10 buys 3 sells today. Don't be fooled! This one is easy to manipulate because of the low float. When a Cat 4-5 stirs up in the Atlantic none of this matters anyway.
Save us from this hurricane play in the middle of hurricane season o bashy basherton! Save us!
I've got 24 Million reasons to buy WEGI!
#1 - the 24 Million share super low float remains unchanged!
Yep, got in a little high but didn't want to miss out.
Wow, no one's posted in almost a month. The season is just over a week away. buy now or cry later imo.
Long-range GFS Model projects the first Tropical Storm (Arthur) hitting western Florida on June 4th
lol and easy money for me too. Pinks are for day trades and short-term swing trades. This is a great entry point before H season. Already made money off ECCI a few weeks ago. Will make money off this when it runs, very soon imo. hold this or any pink long term and you'll get burnt to a crisp.
WEGI-quietly adding here.
Very low float. Will move quickly.
quietly adding here.
Put in a buy order last night for 2mil. didn't think it would gap like it did and never look back - missed out
Congrats to everyone still in. This is why we play pinks!
I just keep shaking my head...just amazing
I'll continue to watch and look for an entry if I like what I see.
Wooohoooo!!!! Go baby go!!!!!
Could be more news coming. Also hurricane plays typically do well on Friday especially during season because people like to load up in case something develops over the weekend. This stock also has a relatively low float considering how low it's priced. It will move very quickly with any kind of buying pressure. Easily to a penny imo.
Closed above the 50 day MA for the first time this year not including the artificial P&D. Looking great for hurricane season and other good stuff coming our way!
If you look at the chart over the last 6 days we are still trending up nicely despite the 2 days of Pump and dump.
We should all make some nice coin from these levels.
Weeeeeeeeeeeeeeeeeeee!!!
If we blow past 32 tomorrow... look out! This one moves quick!
http://charts3.barchart.com/procal.asp?sym=ECCI
Somebody loaded up today.
Nice MM shake this morning...
Hurricane season coming up imo. Load up!