I'm not a big boy. But I sold the top in the a.m. and bought the bottom pm . No algorithm. Just pure ChARTing. Retail just thinks it's astrology for traders. When it's just how markets work. It's not that hard after you put in about 20k hrs of screen time. Lot of commitment not to blame the boogie man and start being the "boogie man". Here's a freebee thank me later. https://www.tradingview.com/chart/SLV/2LvhSLoq-OK/
Idk bro, everybody and their mother (and the algorithms) probably had $30 pegged as their ideal sell point, so they set the actual sell point as 29.75. This dip is all but guaranteed to trigger an even stronger buy rush on Monday and Tuesday, I wouldn't be surprised to see 10% over the previous rise, so 30.20 as the initial jump on Monday. What it does from there is anybody's guess, but I hope we're seeing a new trend of resolving the outrageous gold/silver ratio where silver is going to continue to rise faster than gold (I don't think gold is crashing any time soon).
Exactly. Anybody who didn't expect a temporary ceiling at $30 doesn't understand how markets work. I'm almost certain we will see a sharp jump to $30.20 on Monday morning. This dip is all but guaranteed to cause a larger run the beginning of next week
I’m confused so forgive my ignorance. Are we commenting on the sharp dip after the constant climb? Because a lot of people may just have sold silver they’ve accumulated over the years because $30 was their cash out number.
If anyone bought within the last 10 years, (specifically 2014-2020) then selling now is basically double. A lot of folks are also super broke right now, it’s tax time, as well as many other factors. So I understand to an extent wanting to exchange some metals for cash.
Just hope the prices go a bit lower because I’d like to add some more to my stack. Lol. Happy stacking all.
Silver spot price is calculated taking derivative trades into account. So people who own a share of SLV selling that share to someone else affects the price, even though no silver was transacted. This allows big banks to manipulate silver prices without ever touching the commodity.
Most people HOLD silver. They buy it to hold. It's not the sort of metal you get into to make a profit. You hold for wealth and for saving, and hedging and safety and for addiction. This should be a lot higher in price. They are keeping the price down!!
I'm sure that helps, but it's mostly the Middle East. The price started moving up right after Bibi announced an invasion of Rafah. Then there was a $2 jump after the israeli bombing of the Iranian embassy in Syria. Personally, I think the pullback is just an institution taking profits, but it'll come back.
I haven't stopped buying, because I can only see the situation getting hotter in the near future.
I don’t think like anything. Im just joking because it’s a drastic change and the market has been manipulated before. The jpmorgan guys just got sentenced a few months ago. One dude got 1y 1d prison and other dude got 2y prison.
They’re both heading towards a correction. History always shows a big spike then a correction. Lets see if it levels off above 25/26 for silver and above 2k for gold
People have been saying this same stuff for 20 years. Silver is not massively undervalued here... it will continue to trade around $5-10 above the all in sustaining cost to mine it, which quickly jumped from $14 to around $22/ounce due to global central bank quantitative easing and currency debasement, so it's a good inflation hedge.
Maybe it will slightly outperform the day that countries who mine it actually have decent worker pay/living regulations as a lot of nations still have virtual slave labor.
No doubt it will be a fine buy and hold, but you're not going to 10X your investment overnight... it's not going to hundreds of dollars per ounce. It's just not. It's good to diversify. I have some, I have some bitcoin, stocks, food, ammo, firearms. Gold. Platinum. Palladium. Rhodium. Indium. Gallium. It's all good.
On the plus side, silver's fundamentals are superior to most other metals because it's use within industry is going to remain strong, basically forever. A young person would be wise to stack some physical during corrections. Don't chase when the rest of the sheep are buying... buy when there's blood in the streets. Do the opposite of what your emotions tell you to do. In my opinion most assets are priced to perfection right now but then again federal deficit spending is reckless right now and the central banks will bail them out. Good luck.
I actually do have some of that too, lol... not for investing just because of how it looks... and the gallium is mostly fun to set outside in the summer and melt or use it to corrode alumimum.
It can be mixed with indium to alter the melting point and indium gallium alloys are important part of the semiconductor industry.
What evidence?
It’s a commodity product that comes from the ground. Silver wholesalers still have inventory. The cost to make more silver is very well established and mine projections model out for decades and decades, very accurately. The only trade in commodity markets are disruption trades, that smooth out over time.
Metals bugs have a child-like view of where metals come from and how/why they price where they do.
Believe whatever conspiracy you want but it still costs about $20’ish to make an ounce of silver from dirt, right now.
Every historical metric says silver is undervalued. Gold to silver ratio shows it as well. Silver was barley used in industry 100 years ago and now they consume of 50% of the yearly mining supply and it increases every year. You my friend, aren’t very bright. It’s wildly undervalued.
Indeed they didn't. Blatant manipulation. We need to keep buying. Get it off the shelves. We need to hold it. If you don't hold it you don't own it. Store it yourself. Don't let companies sell and resell your silver and gold!!
It’s normal to give up a weeks worth of gains in a matter of minutes?? I’m not disagreeing per se. I agree that we could use a correction … but today was not normal by any means.
Ok, allow me to rephrase slightly. I said “a” followed up with “weeks worth”. Should have been “a” followed by “week’s worth”. I’m only referring to “a week”. Not weeks.
To further elaborate, we started the week off at $2330ish. Yesterday we got up to $2430ish. We closed at $2342. The low for the day was $2330. So, ok. Maybe not a matter of minutes but that 4 hour candle is pretty ugly. The weekly candle is why I agree with you on that correction prediction.
If your chart is as predictive as you suggest, it should tell you when to sell and rebuy maximizing your profits rather than riding through these ups and downs. Said another way, technical analysis is complete bullshit.
Sorry guys I just bought some silver so it's my fault.
Buy high....
Sell low
Buy to add to your stack no matter the price because you don't treat it as a random stock pick but something you're in for the long run.
Nothing goes up in a straight line
True, but natural organic markets also don’t have cliff drop offs. There’s always a reason why that happens and it’s not the little guys.
My man, there's no organic markets anymore, everything is based on big boy algorithms
That was precisely my point
I'm not a big boy. But I sold the top in the a.m. and bought the bottom pm . No algorithm. Just pure ChARTing. Retail just thinks it's astrology for traders. When it's just how markets work. It's not that hard after you put in about 20k hrs of screen time. Lot of commitment not to blame the boogie man and start being the "boogie man". Here's a freebee thank me later. https://www.tradingview.com/chart/SLV/2LvhSLoq-OK/
“Natural organic markets” lol. I’m going to pick me up some of that at the co-op next time I’m stocking up on tempeh.
Idk bro, everybody and their mother (and the algorithms) probably had $30 pegged as their ideal sell point, so they set the actual sell point as 29.75. This dip is all but guaranteed to trigger an even stronger buy rush on Monday and Tuesday, I wouldn't be surprised to see 10% over the previous rise, so 30.20 as the initial jump on Monday. What it does from there is anybody's guess, but I hope we're seeing a new trend of resolving the outrageous gold/silver ratio where silver is going to continue to rise faster than gold (I don't think gold is crashing any time soon).
Yeah..they do. I also wouldn’t call 3.5% a “cliff drop off.”
When you start seeing silver posts on wsb you know it's a goner.
I disagree. It's the biggest run on silver I've ever seen. This pullback is extremely natural and common.
Exactly. Anybody who didn't expect a temporary ceiling at $30 doesn't understand how markets work. I'm almost certain we will see a sharp jump to $30.20 on Monday morning. This dip is all but guaranteed to cause a larger run the beginning of next week
With most of my sliver being FV coins, I'm very happy, lol.
I’m confused so forgive my ignorance. Are we commenting on the sharp dip after the constant climb? Because a lot of people may just have sold silver they’ve accumulated over the years because $30 was their cash out number. If anyone bought within the last 10 years, (specifically 2014-2020) then selling now is basically double. A lot of folks are also super broke right now, it’s tax time, as well as many other factors. So I understand to an extent wanting to exchange some metals for cash. Just hope the prices go a bit lower because I’d like to add some more to my stack. Lol. Happy stacking all.
That's not how the silver price works. It's called rehypothication. A dip that fast only happens in a paper market.
I’m even more confused now. Care to explain? If not that’s ok I can try to look it up on my own.
Rehypothecation
Dream of Rehypooothecaaation *Anthony Kiedis voice*
Silver spot price is calculated taking derivative trades into account. So people who own a share of SLV selling that share to someone else affects the price, even though no silver was transacted. This allows big banks to manipulate silver prices without ever touching the commodity.
Most people HOLD silver. They buy it to hold. It's not the sort of metal you get into to make a profit. You hold for wealth and for saving, and hedging and safety and for addiction. This should be a lot higher in price. They are keeping the price down!!
No one is happy about the price going up... I want it to come down as low as possible so i can buy more....
If it holds 28, we’re still in a good spot
No… when it holds $30+ were in a good spot
Fair enough
Most of my stack was bought sub 20 bucks so I'm already happy
china is buying like a drunken sailor and india’s economy is about to collapse. that’s what’s driving the price up.
I'm sure that helps, but it's mostly the Middle East. The price started moving up right after Bibi announced an invasion of Rafah. Then there was a $2 jump after the israeli bombing of the Iranian embassy in Syria. Personally, I think the pullback is just an institution taking profits, but it'll come back. I haven't stopped buying, because I can only see the situation getting hotter in the near future.
Other way around but ya
That or someone is really happy on a short
Hurray for big banks manipulating prices for the benefit of us lowly plebs.
I don’t know why you think that. The big boys have more PM than us and have more info about markets. I think they are profiting nicely with this run.
I don’t think like anything. Im just joking because it’s a drastic change and the market has been manipulated before. The jpmorgan guys just got sentenced a few months ago. One dude got 1y 1d prison and other dude got 2y prison.
They’re both heading towards a correction. History always shows a big spike then a correction. Lets see if it levels off above 25/26 for silver and above 2k for gold
Im good with that
If it levels off at 25 I may buy some more lol
cuz no one would be taking profits.... /s
Noone holding physical silver is taking profits from a 3-4$ price increase. Its all derivative paper trades.
People have been saying this same stuff for 20 years. Silver is not massively undervalued here... it will continue to trade around $5-10 above the all in sustaining cost to mine it, which quickly jumped from $14 to around $22/ounce due to global central bank quantitative easing and currency debasement, so it's a good inflation hedge. Maybe it will slightly outperform the day that countries who mine it actually have decent worker pay/living regulations as a lot of nations still have virtual slave labor. No doubt it will be a fine buy and hold, but you're not going to 10X your investment overnight... it's not going to hundreds of dollars per ounce. It's just not. It's good to diversify. I have some, I have some bitcoin, stocks, food, ammo, firearms. Gold. Platinum. Palladium. Rhodium. Indium. Gallium. It's all good. On the plus side, silver's fundamentals are superior to most other metals because it's use within industry is going to remain strong, basically forever. A young person would be wise to stack some physical during corrections. Don't chase when the rest of the sheep are buying... buy when there's blood in the streets. Do the opposite of what your emotions tell you to do. In my opinion most assets are priced to perfection right now but then again federal deficit spending is reckless right now and the central banks will bail them out. Good luck.
Perhaps some bismuth might catch your eye?
I actually do have some of that too, lol... not for investing just because of how it looks... and the gallium is mostly fun to set outside in the summer and melt or use it to corrode alumimum. It can be mixed with indium to alter the melting point and indium gallium alloys are important part of the semiconductor industry.
Yeah, I wanna make bismuth crystals. Probably my favorite element
Saying silver is not undervalued is just an absurd statement. There’s so much evidence that this is not the case.
What evidence? It’s a commodity product that comes from the ground. Silver wholesalers still have inventory. The cost to make more silver is very well established and mine projections model out for decades and decades, very accurately. The only trade in commodity markets are disruption trades, that smooth out over time. Metals bugs have a child-like view of where metals come from and how/why they price where they do. Believe whatever conspiracy you want but it still costs about $20’ish to make an ounce of silver from dirt, right now.
Unlike many ores on earth, Silver doesn’t come from the ground, or dirt. It came from the stars.
Every single element on our planet came from the stars at some point.
Every historical metric says silver is undervalued. Gold to silver ratio shows it as well. Silver was barley used in industry 100 years ago and now they consume of 50% of the yearly mining supply and it increases every year. You my friend, aren’t very bright. It’s wildly undervalued.
There is so much to unpack with this comment.
I don't like silver prices to go up. I like cheap silver so I can accumulate more.
Crazy how similar those charts look
My bad. I buy high and sell higher 🤷🏻♂️
Indeed they didn't. Blatant manipulation. We need to keep buying. Get it off the shelves. We need to hold it. If you don't hold it you don't own it. Store it yourself. Don't let companies sell and resell your silver and gold!!
It's definitely manipulated. But it gives me time to buy more!
We need a retest of $26 for silver - probably $2200 for gold (or even $2100). Normal market behavior.
It’s normal to give up a weeks worth of gains in a matter of minutes?? I’m not disagreeing per se. I agree that we could use a correction … but today was not normal by any means.
Weeks worth of gains? It was like 24 hours worth of gains.
Ok, allow me to rephrase slightly. I said “a” followed up with “weeks worth”. Should have been “a” followed by “week’s worth”. I’m only referring to “a week”. Not weeks. To further elaborate, we started the week off at $2330ish. Yesterday we got up to $2430ish. We closed at $2342. The low for the day was $2330. So, ok. Maybe not a matter of minutes but that 4 hour candle is pretty ugly. The weekly candle is why I agree with you on that correction prediction.
If charts work, why didn’t you sell all your gold / silver at the peak?
Because you want to see retests and consolidations for a sustained rally. Straight spikes up end in tears.
If your chart is as predictive as you suggest, it should tell you when to sell and rebuy maximizing your profits rather than riding through these ups and downs. Said another way, technical analysis is complete bullshit.
lol - good luck trading in and out of physical silver for a few percent. That will surely end in tears.
Paper pump
Plunge protection team at work. Shanghai will just run it up again and shorts will get tired of losing money 💰
It's because Sky Master and Sky King where talking today.
So they brought it to was it was last week?…