Silver/SLV

[murray t turtle]

Silver was never a Reddit event or a short squeeze. That whole angle is being overpromoted. $27 is quite a healthy level for Silver; not far off the key break out level of $30 but comfortably above previous support at $24. Miners are the play not the metal price.

I'd note that in the last 30 years both times Silver reached these levels it found it's way to $50 in short order. No guarantee it will this time but 2/2 in the past suggests it's far more likely then some of you day traders are realizing.

%%
Good points. ZSL had a good 100% + move last year/but silver /SLV is still a long term buy.
SPY + QQQ will most likely outperform in the long run...............................................
Actually i like some junk silver coins/they will never deface George Washington or Lady Liberty/LOL
[ SLV , QQQ,SPY tends to be more liquid; uptrending silver has had huge swings.....]
But i see APPEX does not have a buy price\ under each ask price as they used to do.

 

[AXIA_Craig]

With all the talk about silver and GME, I asked Richard at Axia Futures to make a video about the "silver squeeze" and what he thinks the trading opportunity might be. What are your thoughts?

 

[murray t turtle]

With all the talk about silver and GME, I asked Richard at Axia Futures to make a video about the "silver squeeze" and what he thinks the trading opportunity might be. What are your thoughts?

%%
Some of his silver charts look good long term. BUT for example, SLV, can easy go down 30% even in a good uptrend. If SLV closes above 28 or $30/may go past $50.

OF course APMEX is a good cash dealer+ looks like they are wanting to sell a lot more than buy silver . They used to put a bid\sell price under each sliver bar or coin.. I dont blame them if they now only want to buy truck loads/trainloads from the mines, or mint??

 

[AXIA_Craig]

%%
Some of his silver charts look good long term. BUT for example, SLV, can easy go down 30% even in a good uptrend. If SLV closes above 28 or $30/may go past $50.

OF course APMEX is a good cash dealer+ looks like they are wanting to sell a lot more than buy silver . They used to put a bid\sell price under each sliver bar or coin.. I dont blame them if they now only want to buy truck loads/trainloads from the mines, or mint??

Yeah, we'll have to see. But can imagine anyone who bought $SLV yesterday is feeling some pain.

 

[zghorner]

bought Jan '22 call and put to see which one shows green before adding to position.

 

[murray t turtle]

Yeah, we'll have to see. But can imagine anyone who bought $SLV yesterday is feeling some pain.

%%
A real good uptrend in silver or SLV would have closed above open price , even with a 10%+/ daily gap up in SLV. Good volume on SLV anyway ,today.Good bear volume on that big gap up.
Glad i had a sell order on my QQQ longs all ready in today......................................

 

[Nine_Ender]

%%
Good points. ZSL had a good 100% + move last year/but silver /SLV is still a long term buy.
SPY + QQQ will most likely outperform in the long run...............................................
Actually i like some junk silver coins/they will never deface George Washington or Lady Liberty/LOL
[ SLV , QQQ,SPY tends to be more liquid; uptrending silver has had huge swings.....]
But i see APPEX does not have a buy price\ under each ask price as they used to do.

Silver stocks slightly down today despite Silver itself finding some degree of limited support. I suspect some trepidation from traders after yesterday's debacle but they could all pile in again if they think the coast is clear. SVM reports tomorrow I want to see how they did converting the higher Silver prices into earnings ( last report was ok but the market was disappointed must have expected a huge beat ). SVM has been my worst stock last few months. However, some of the other ones could take the cue if the earnings are ok as well.

 

[murray t turtle]

Silver stocks slightly down today despite Silver itself finding some degree of limited support. I suspect some trepidation from traders after yesterday's debacle but they could all pile in again if they think the coast is clear. SVM reports tomorrow I want to see how they did converting the higher Silver prices into earnings ( last report was ok but the market was disappointed must have expected a huge beat ). SVM has been my worst stock last few months. However, some of the other ones could take the cue if the earnings are ok as well.

%%
WOW they gapped SVM from $6.50 area to $8.50 from one day's open to another days HI /this month. SLV still looks fairly strong/ not long or short any of those.

 

[maxinger]

Down it goes again together with gold.

 

[Nine_Ender]

Down it goes again together with gold.

I'm calling a bottom on all mining stocks right now. I would be surprised if SVM isn't a nice buy here. I'm sitting tight on my existing mining positions, except the OGC I bought yesterday I dumped this morning. Still positive on my account today because I took some aggressive positions on Cdn Oil stocks.