Member Info for ducatiman996r

Any of you guys still in here from back in the days when the oil was found an the SP shot up to £4 ?

We few of us met up in town for a bit of a celebration and I even did the cheesy thing of buying the number plate RKH P90

For this one to really get going again I think we need a much higher crude oil price.

Good luck with it folk 👍

Gold needs to support at 5000 or we will see a dip in silver price.

A couple of cheeky £2k top ups during the dip.

I fully expect to see the afternoon dip again today but I think buying pressure will push the silver price back up later.

@ceejay Did you not see how the ETFs got hammered when the crash took place?

If subscribing to the belief that precious metals are going to rise in price surely the production of said metals is going to be down to the miners?

There is an old saying that when interested in a particular market sector one should look into the "soap, rope and dope" in this instance the miners will need various supplies and equipment to continue their mission so worth looking into who provides that perhaps?

"Wong, however, added it may be “too simplistic” to attribute the entire move to speculation"

Absolutely Mr. Wong, you conveniently forgot to mention how the crash was engineered using a combination of margin hikes, stop loss hunting by people with access to the book and precisely targeted short position closure.

I guess the "nice" people at CNBC would probably no longer be interested in sharing your views had you done so.

The mainstream media are as corrupt as the banks and CME!

....don't panic if we see the same dip later today, it is just profit being taken from whoever pushed the price up overnight.

When you consider that all this massive price movement has taken place in just a matter of days compared to how long it took silver to initially reach the level we are at now.

It is unbelievably bullish and suggests that we could potentially see some amazing highs very soon.

We will almost certainly get a drop back soon but that is a good thing in a healthy market so don't

If the price of physical silver is way ahead of the fraudulent Comex price why are the miners not basing their value on the physical price?

We saw exactly how the miners dropped when the Comex price was deliberately crashed and have been recovering since.

We don't want to see an unnatural recovery, profit taking is expected and actually healthy as it gives new buyers an entry point. As long as it is soon bought back it will be fine.

Just had a look, Nasdaq through the floor, money coming out of tech stuff and going into Walmart.

The evil Blackrock also tanking.

Looks like the US lot are bashing the silver price now.

I got distracted at US market open today, why did miners drop while silver and gold held firm?

Anybody here with any analysis of the company? It have been in my watchlist for a while and I'm tempted to see if I can arrange to visit their facility.

Meant to say "demand will outstrip supply" in my last post. It'd been a long night. 😉

@PortfolioPower

All valid points and I still strongly believe that unless they find a more easily procured alternative to silver for industrial purposes supply is going to continue to outstrip demand.

What we have just witnessed is bare faced fraudulent manipulation and people need to be behind bars when it is investigated, as it has to be for any trust to return. That high officials in major banks are allowed to sit on the CME committee is a disgrace, what has just happened is absolutely collusion with even Reutters joining in with their fake "news" article regarding the government dropping support for critical materials.

I wonder how many people were wiped out by the crash? How many holding miners shares got stopped out and will probably never enter the market again?

It was a hell of a thing to experience, particularly when ball deep in miners shares in the SIPP. It was a case of stick with the belief that the price would rally and accept that a portfolio that had been up 20% a few weeks ago was actually well into.the red!

We need to see a steady climb in the silver price, a bit of profit taking along the way to keep it healthy and for them nit to have a second bite of the cherry. I somehow doubt that even they would have the bare faced cheek to run the same scam again for a while at least. It has been done before but never in the past when silver was in short supply.

Gold should make $5,000 today, helping to drag silver up too. I really can't see the Iran situation calming down anytime soon. Fresh concerns about the strength of the dollar after the initial swoon when the new Fed chair was appointed.

I was hoping this one would open around 38 today so not too disappointed.

Ref margin calls they aren't over as far as I'm aware, if they were we would probably be back at 120 by now. 😁

Has anyone else had a look at the silver chart on the daily setting and compared today's movements with "big" drop back in December?

From that one the price went on to hit the peak at 120 but it didn't go straight up the day after the dip. The trading range today is in excess of that December dip candle, the price found support at the same level as the December dip so hopefully we will hold that.

The candle is squeezing right up with long wicks top and bottom so it shows a battle throughout the day between the buyers and the sellers that seems to have come out fairly even.

That isn't a bad result given the big rise in Wall Street, major US banks and stocks along with a strengthening dollar. There is also rumour of talks in Iran but I personally think that they might not be too productive and tension is likely to rise again there. Gold has not been taken up as a safe haven option so that has helped to keep the precious metals down across the board.

I wonder how people are trading these miners shares? If running tight stop loss settings at entry there are probably some losing a lot of money along the way. My personal take on it is that I still believe silver is in a short supply situation that will not be quickly resolved, other countries are trading at a good bit higher than Comex spot price although I doubt that much physical silver is being drawn by this.

Perhaps we will get a few wobbly days (that is a technical term) before we see a firm upward movement developing.

We hear a lot about previous silver price crashes but none of those was at a time when silver was in such high demand for industrial applications, now designated a strategic metal so its importance has certainly been recognised.

What do you all think?

Not sure what has happened yet but will look into the news that has driven up prices of many US banks and other shares. Maybe the new Fed guy made a speech that went down well? Something settled in Iran? Job news at the end of this week so that will be interesting.

I don't suppose the massive increase in margin requirement has helped us today.

Let's hope that it holds up overnight and starts to climb tomorrow.

If you watch it on the IG Index platform you can see the various miners shares going into auction on a fairly regular basis. Hecla and Pan American are always at it which shows how few shares are available.

At least the miners were recovering at an equal or in some cases better percentage than the silver which is good to see. They seemed to have decoupled quite a bit in the latter stages of the run up to $120.

As expected they ran the price right down to the support at the bottom of the December dip and let you buy it back up before pulling the rug out again. Will they be greedy and push it below the previous support or will they just allow a double bottom to form to reinforce the support level?

If this was a casino they would be closed down!

Ask yourself this......Why would the big banks hold massive short positions at way below the commodity market price if they didn't have absolute control of the paper market?

Selling commodities that don't exist should be made illegal, it is fraud.

Just imagine if you went into a car dealer and paid for a car to be ready for collection in three months time. The dealer sold ten times the number of cars than he knew could be produced. When you went to collect it you were told you had to accept a cash repayment which was less than you had paid as the price had dropped. You wouldn't be happy !