Member Info for ducatiman996r

Looks like the monkey hammer put in an appearance this evening. For some reason the US miners didn't follow the rise in silver SP. Hecla announced the sale of an asset and that dropped like a stone. Makes you wonder if the silver price will creep back up overnight or maybe trade sideways

What do we think of the plethora of Asian AI guys currently swamping YouTube?

Some of it is outright rot, no major US bank failed recently due to short silver positions.

How do they know the details they supposedly have about the banks short positions and isn't it odd that they get access to all the top secret letters being circulated by banks and other institutions to their staff?

I'm guessing they are Chinese government organised bots looking to try and help the western worlds financial collapse. Not suggesting that the shortage of silver is untrue but I think we need to take what they put forward with a pinch of salt.

The US navy is currently en route to the Middle East while according to rumour the Chinese have sent troops to help the evil Islamic guard currently clinging on to power.

The effective blocking of Chinese silver exports is going to help the squeeze in the west and Shanghai rating silver $10 above the Comex is going to make the transfer of silver into China more attractive.

It will be interesting to see what happens at 23.00 today, one of the AI bots is predicting a massive gap up at open to $115.

What are your thoughts?

Bit surprised there is no chat going on here? Been doing pretty well.

A "three month old trader" now that is impressive! 😂👍

Not sure if any of you guys use IG Index? I find it handy for a bit of scalping now and then. Currently a couple of quid long on the gold future.

It has a weekend trading facility which I'm sure isn't based on any actual price change but interestingly it is Currently showing silver at over $104 and gold over $5000

It will be interesting to see where it is before the markets open again.

Silver closes at just over $103 with the last few hours of trading today all green candles. Even my gold spread bet on the February future closed in profit (on paper obviously).

If it holds up for open on Monday will the miners react ?

Silver just hit $102 but the miners response has been very muted compared to recent days.

I'm wondering if the big buyers just aren't in the market at this time ? If I carries on up until close tonight it could be a crazy start on Monday.

Interesting finish to the week with what looks like a bit of profit taking on the US miners, despite the silver price having blasted through $100

Not as much excitement as yesterday but maybe some are closing out for the weekend?

It will be interesting to see what happens next week and how well $100 is supported.

@PortfolioPower It is crazy out there at the moment, my uvver arf was watching something on X and said "have you heard of Hycroft?" I hadn't but went to take a look and chucked £15k at it. It shot up 17% the next day and according to my IG Index chart is up another 6% today. It could all come tumbling back down if they manage to smash the silver price back down but we now know where the market values these miners relative to the silver price so it will just be a matter of waiting for the recovery as silver sure ain't going to be more plentiful any time soon!

Cheeky £5k top up on Hecla while it was down slightly at open of the Yankton. Anyone else trading US miners? There doesn't seem to be any chatting about them?

Interesting conversation, with silver we basically have an industrial metal that has recently been recategorised as also a monetary metal. There is pressure on it from both fronts, people wary of the general markets go for gold traditionally so there are a lot of people chasing a commodity that cannot keep up with demand. Fiat currencies are indeed coming under pressure and rightly so; they have been used to basically defraud the public for decades and a time of reckoning is not far off now. Trust in the might US dollar is dwindling rapidly so I can't see how the prices of preciuos metals can do anything but keep rising at this stage.

Do any of you whingers ever step back from watching the minute by minute changes and look at the charts?

I tend to follow the price movements in real time on my IG index account and have just put PRES on 1 hour setting. The slope is darn near perfect and in the right direction.

If you want to make money stop worrying about minor corrections and look at the bigger picture.

Sillver just broke $96!

Fres finally into the blue today, took a while and i didn't press the button on the dip. I did buy £15k of Hycroft yesterday and that has been up by as much as 18% today, Hecla and Pan American are both going well.

We just need silver to breach $96 for all hell to break loose I reckon.

Well that was a bit of lively movement in the silver price. If it drifts off overnight I wonder if we might see some cracking buying opportunities here?

Going to be an interesting start!

Only up 22% in a month, how dreadful! At that rate it would take over 4 months to double your money! 😂😂😂

Have you actually looked at the chart? If you look at it on the hourly setting you can see the trend for profit taking on the rises. Silver price has been up and down a bit and some selling will be sell orders filling automatically at certain perceived benchmark highs.

When you see a push upwards followed by a very fast retrace you can see that happening.

For anyone interested in charts the gap fill over on the Hecla chart yesterday was a classic.

As a bit of further insight into trading in general as previously mentioned, I bought Pan American and Hecla on the NYSE fairly recently.

The former went up pretty quickly afterwards with a good profit showing, it latterly dropped back and touched my entry level but then recovered strongly on Friday to put me back in profit. Back in the day I would have probably lost my nerve and jumped out when I was around even then kicked myself later.

I bought into Hecla and paid a bit over premium on the ask as believe it or not for a company of that size there were very few shares available. It went down from my entry point for a few days showing a bit of a paper loss but hey presto on Friday it went up nicely to put me back in a (paper) positive position.

Neither ever looked like tanking but I did understand the risk as with any investment.

My biggest concern is that is the massive short COMEX positions really exist, as suggested by many sources, we will inevitably see a force majeur declared. Should that happen it may well have a big effect on the prices but who knows which way? The other thing that could stagnate the market is companies and governments negotiating forward prices with miners. I can't help bit think that if I was a miner in the current volatile circumstances I'd not want to tie in deals at the current prices.

Are we facing a full blown market crash? It is a possibility as the roaring bull market across the board while we see rising inflation, interest rate changes that make no sense and all kinds of other worrying stuff.

I did predict the 2008 crash, it was really obvious that the massive fraudulent repackaging of toxic debt would eventually come back to bite us in the butt. When it happened even companies providing essentials and with good basic fundamentals crashed with everything else. I sat on my hands and my best ever trade was buying Taylor Wimpey shares at just 8p! I did the same with Barratts builders all in my SIPP and at one point I had enough shares that with the market recovery the annual dividends alone represented over 60% of my initial share costs. I've been wary for the last year and stayed in cash, it is only the silver situation currently that has lured me back into trading. I'm still sitting on my hands with the larger portion of my funds in case we do see a crash this year.

As always, my words are just the ramblings of a bald old fart who has been messing about with this fr a few decades now.

The AIM market is not really the place to cut your teeth, it is riddled with dodgy companies, boiler room scams, pumpers, dumpers and just very risky. Better to buy into something for a reason, don't let sentiment guide you.

In the case of Silver and derivatives such as the miners, unless someone comes up with a highly conductive alternative or technology no longer needs it for production the supply/demand situation will dictate the price.

Longer term it will be impossible to suppress it so you just have to ignore those trying to talk it down to silly levels. You need to look at what you are buying and be happy that it is going to increase in value. The short term jiggery pokery is just that, live with it or maybe don't put money into it.

I personally bought NYSE shares in both Pan American Silver and Hecla, you wouldn't believe how few shares were available for both when I wanted to buy, the shares cost a fair bit more than the buy price I put in on the Hecla and it dropped like a stone virtually straight away. It has come back over the last couple of days and is pushing the previous high price despite the silver price having dropped.

Fresnillo has crept up slowly today and finished the week pretty positively. I was tempted to stick £10k in at open this morning but didn't press the button, which I should have done. Take a look at the daily chart, two consecutive popsicles with today's actually finishing green. Unless we get a bit more of a push down in the silver price before it opens on Monday it could go well next week.

Stop trying to micro manage your account would be my advice. Step away from your trading screen and go do something fun :)

When you actually look at these minor pullbacks they really aren't signs of the ar$e falling out of this sector.