Silver?
- Thread starter Rukos_48
- Start date
Maybe for those who just bought this week. Otherwise…all is fine. Volatility is normal these days.
I would not use the Fed Chair pick as an example as if they were to cut interest rates Gold and Silver would have to go even higher. If anything it would mean a strong correction to lead up to another test for support for another leg up. USD is weakening, and I can see that Silver did hit a death cross on MACD crossing but again, on a technical trade this looks like a massive correction.
If you believe that the US dollar is somehow connected to this, or even with precious metals used for whatever use, why sell? As I mentioned before there will be extreme volatility. I would be cautious to buy as a long opportunity until you see what futures is doing, but the RSI is still hanging between the 70 and 30 zones on the daily scale so this will indicate a week for testing following. *Not financial advice* Lots of stocks sold off so I'm thinking a lot of participants are shorting silver and they have finally met margin requirements.
Seems everything was down as usual on Fridays. However this correction falls into the Black Swan category. I was up 31 grand on Monday and thought to myself. "You should sell" And I fucking didn't. Silver has been whipsawing for quite a while and I should have been day trading it. All the talk about shortage of silver and the rest. Screwed again. I got KILLED today.
I didn't mean to insinuate that you'd be selling rather than a lot of people are in the moment of 'fear' when the StochRSI is showing a large amount of selling pressure (could be short sellers?). Market making is interesting because of underlying Authorized Participants (AP) can see all the options going on throughout the week. Knowing this they can look at the spread and play against it if they have the margin, and they will take their positions and slip them to play against all the purchases being put on lit markets. They will spoof orders, and they will execute orders they prefer onto direct exchanges such as the TSX, CSX, NYSE or NASDAQ for ETFs that cascade price action against securities tied to such ETFs. So definitely people got fleeced by APs, but this is not a mystery of how they are doing it. They will keep targeting ETFs because through ETFs, APs can effectively perform large transactions called total return swaps to then attack these ETFs to bring down their price. The excuse is to bring underlying securities to correct their Index Price when ultimately it creates extreme volatility with all securities tied with such ETFs.
There are many quantitative approaches but I stand by saying that this is a large correction, until these stocks get put onto PCO (Position Close only), the worst you'll see for now is trading halts/circuit breakers on these ETFs. It's business as usual unfortunately.
For now, I will wait to look at more trading data next week before coming to a conclusion if this party is over. Looking at the markets, this is far from over and this is big players pocketing a spread on Friday on shorts. They will expect people are too scared to buy next week and it's showing everywhere. Even though people will act cautious, it's still a negative sentiment on buying and that's exactly the emotion they (the big market players) seek to stoke on retail buyers since retail's cash is the real liquidity in these markets. They can't sell securities forever to cover short positions otherwise you'll see another Friday event.
Rough end of the week for the markets in general. All sectors were down. The big drop in precious metals on Thursday and Friday was mostly due to profit takers. January is a good sell off month because any taxable capital gains are deferred for 15 months. But the underlying fundamentals remain the same. Global uncertainty, inflation, printing money out the wazoo, real estate dropping and/or not moving signals more refuge in the safe assets - precious metals and commodities.
For those are investing in silver, precious metals or metal refinery stocks.
Check this out.
If you have the cash and do not buy on margins, you are safe in the long run.
Also Ford is getting into EV partnership with Xiaomi. They will definitely require silver other precious minerals to power up their battery tech.
Check this out.
If you have the cash and do not buy on margins, you are safe in the long run.
Also Ford is getting into EV partnership with Xiaomi. They will definitely require silver other precious minerals to power up their battery tech.
NO JPM did not close all their short positions.
Here's Swiss banker Clive Thompson to explain, jump to 0:50 in the video
Watched a bunch of youtube videos Sunday morning to see if it was going to crash more on Monday. General consensus from half a dozen experts is.........it will either go up or down.
So I took a bath this month. Watched it tease me for about half an hour and got the fuck out. Managed to keep a few pennies when I sold. If I had held on I would have been down another 10 grand by the end of the hour. Back to square one. Sprott Silver, that is.
I like this guy
He was describing how in China, people were locked out of selling. Put on hold listening to elevator music watching it crash. Trying to sell online and having to refresh dead screens. Glad that didn't happen to me.
So I took a bath this month. Watched it tease me for about half an hour and got the fuck out. Managed to keep a few pennies when I sold. If I had held on I would have been down another 10 grand by the end of the hour. Back to square one. Sprott Silver, that is.
I like this guy
He was describing how in China, people were locked out of selling. Put on hold listening to elevator music watching it crash. Trying to sell online and having to refresh dead screens. Glad that didn't happen to me.
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On its way back up. Gold 6000 and silver 125 before summer. Gold at 7200 to 7500 16 months from now.
Copper miners are setting up very nicely for the coming boom in that metal.
Copper miners are setting up very nicely for the coming boom in that metal.
Yes. Still whipsawing. However look at this.... go figure
HYMC $42.07 (▲19.48%) Hycroft Mining Holding Corporation | Google Finance
Silver overnight markets look healthy, definitely some consolidation in the $80 zone. I'm fairly certain once RSI crosses back into the high 60-70 range, it will try for another MACD gold cross on the daily. Will see through Thursday for any options plays on ETFs to see if there's taste. For now Miners ETFs might be a cheaper, less volatile play.
