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"#Silver prices settle near a three-year high
A long bull market may be close behind
“Up until a couple of weeks ago, silver wasn’t finding much love, but stronger industrial data from China has boosted demand for industrial materials like copper and silver.”
https://twitter.com/goldseek/status/1776162102320755171
Timing is all :)
Back to FRES, it's still doing better than peers today. Gold and silver are holding their ground. Not trimming my exposure here.
"The trade "long gold miners - short Magnificent 7" does great so far."
If you opened it a few weeks ago yeah, if you started that a year ago then you'd have long been bankrupt :)
It was more about Middle East escalation concern. Both oil and the US arms manufacturers rallied. Gold quickly retraced too. The trade "long gold miners - short Magnificent 7" does great so far.
Kashkari clobbered PMs with his "perhaps no rate cuts this year" comment. Funny as he used to be ultra dovish and he's not even a voting member.
Tin hats tomorrow
I don't think PMs are overbought
Traded sideways for a decade maybe it's time PMs trade upwards for a decade. Then maybe talk about being overbought?
But better to have caution and assume bitcoin is the new gold. I just think tine to be bullish on both due inept fiat currencies
Difficult to tell with Precious Metals at the moment. I suspect they are overbought, maybe some older investors trying to chase the gains that btc has made. But it's just as possible that gold and silver can collapse as well as btc. Looks overcrowded esp when you see hockey sticks on the charts.
Saying that Fres is relatively low in the grand scheme of things. Probably worth a punt. But as PMs have largely gone up in value over the last 20 years, esp POG, they can seduce investors into thinking they are less volatile than they actually are.
There is no such thing as a bad market, just bad decisions ..... shorting merely a long decision in reverse during a poor period...it is no different , just the mental approach to things
Private investors only bet long and dont hedge ..so they hate shorters ....amateurs trying to play in a professional game and crying when they lose
Always a bunch of desperate people talking down a rising stock. Pathetic but predictable
I learnt along time ago, that rather than complaining about shorts, its far more constructive and profitable just to embrace them and use the as a tool to profit
Can’t beat them so join them ., so to speak
Works wonders when the dividend stocks you hold are about to pay out, rather than see your capital get hammered each time
Silver Ultra's be all red headed and shouting "tomorrow tomorrow, it's coming tomorrow, tomorrow is only a day a way"
Love hearing the old silver demand will go through the roof banter
This has been years now
So when will it happen?
"Been saying lately that $SILVER will break out soon, and that it is a GENERATIONAL opportunity on the breakout. It is now breaking out.
Note the two marked, previous breakouts of similar weight.
Should get a massive move here once again."
https://twitter.com/graddhybpc/status/1775801989298876660
That petition gets bandied around every time some sad sap paid to much for their shares.
Short selling is healthy, it'll never get banned.
Sorry to see you missed out buying below 500. Better get in now before it hits 600, on its way to 1000 (again). Central banks are in a bind, they can't do what they need to do to control inflation without triggering a disastrous financial crisis, such is the scale of global indebtedness. Plus silver demand is set to climb through the roof. It's a combination set to power silver miners for several years now.
Better late than never.
ANTO - P/E ratio 30.36
anto***asta plc p/e ratio 30.36
Close your shorts, friends, or your brokers will do it for you soon. :)
What 21 P/E? At the current gold, silver prices and production rate, we are talking about almost 1 billion EBIDTA, with a market cap around 4 billions. Also, don't forget about 2.2b Oz silver resources (and 38M Oz gold). If only silver resources are revalued by 1$/Oz and gold resources by $50/Oz as prices go up, we are talking about doubling the market cap from here.
If current gold/silver run is sustained, I see FRES breaking 10 pounds quite soon. It has all chances to outperform other miners because of the past underperformance due to forced seller.
I will pray to the Aztec gods that we never see the 400s again...
Hi you missed the boat I take it?
The pe is not necessarily best measure of value when silver and gold prices are rising fast. You would have to recalculate the pe with updated commodity prices.
Best of luck getting back in if that's what you looking for!
No view on the high valuation, the very high PE multiples here?
Sp, Fibonacci target is 537.8, based on the Fibonacci 61.8%, retracement from previous major high.
The sp, has already succeeded, in passing above the preceding fibonacci 38.2% and 50% retracement levels, so price action ought to decide what to do. DYOR.
27/3/24, bullish outside bar breakout, happened on double volume of previous day. An outside price bar is defined as having a higher high and a lower low than the preceding price bar day. The outside bar, is an indication of price expansion.
Macd(), and RSI(relative strength index), both show positive divergence , meaning momentum is positive for equity rise.
Supporting sector is bullish, having broken price pivot.
Overhead supply from previous trading , at 550 and 600, can be expected to provide selling resistance.
Long term FRES charts are bearish, down trending on all timescales 5 years to 3 months. Only the recent 1 month chart slopes upward. DYOR.
"Silver positioning, from being nearly flat a month ago, is now near five-year highs, and longer on a percentile basis than any other major bond, equity or commodity future."
https://www.zerohedge.com/commodities/inflation-risk-latecomers-pile-silver