Member Info for StarBright

That smiller is the way to do it. There is FAR more prospect of a limit order being filled at your target price than there is of you waiting for the price to arrive and then placing a market order. It is entirely likely that there’ll be a wobble at some point and you’ll get filled. More LSE-types should do this rather than faffing about with meaningless “dummy trades” which - in truth - reveal nothing.

The afternoon rises seen on a couple of days last week started well before NYSE opening time. They were typically well established by 1pm, driven by domestic investors reacting to pre-market commodity price moves in the US. Take a look back at the intra-day charts for last Thursday and Friday if you would like proof of this.

Please don’t make the mistake of believing that US “traders” start buying UFO when the NYSE opens at 2:30pm! Any such buyers of UFO will be trading through the LSE alongside all of us. They won’t be waiting for the NYSE to open for any reason. If you want to buy Sainsbury’s “Taste the Difference” raspberries, do you wait until Asda is open...? Believing this really does mark you out as entirely clueless...

No worries. To pick a few examples in the hope that this oft-repeated fallacy will go away:

Hargreaves A25: “Investments will not be lent to a third party and we will not borrow money against your investments.”
Halifax 10.10: “Investments will not be lent to a third party and we will not borrow money against your investments.”
Barclays 13.1: “ We will not engage in stock lending for any Asset in your Account.”

This is UK industry standard practice across the reputable providers. If you use one of the bookmakers masquerading as brokers then the same protections might not apply....

Putting a sell order on your shares won’t affect whether they can lent or not.

But if you own your shares through one of the popular traditional platforms like HL, Barclays, Halifax etc then you should know they all have explicit provisions in their T&C’s saying they won’t lend your shares out. You don’t need to worry about this.

Regulation and market practice are different in the US. Don’t read posts about this topic on Reddit and think the same considerations apply here. They don’t.

Outfits like “Bullion by Post” are expert marketers...

Nothing wrong with the RNS, but perhaps a little too much optimism had been baked into the price..?

This is a good business in an exciting space. The weakness in the price since last week should be seen only as a buying opportunity. No share goes up in an uninterrupted straight line!

Steve777 - you have just summarised precisely why a bidder might be interested...!

PaulQ - this isn't market-makers trying to "fool" anyone. On a high volume day like today they will be looking to find the price range in which both buyers and sellers will transact, so they can sit in the middle and collect the spread. They are flow businesses, better viewed as price takers not price setters. There's no reason to believe the price we see right now is anything other than the price at which two-way flow is happening.

Expect some volume today. Also some warrant exercises.

I think we are clearing out the cupboard. Good.

Sceptical would be a better description Max. It’s what 25 years in fund management does to you...

It would be good to see UFO regain some ground here - it’s been a tough hold in recent months.

Ah - I see an account called Max UFO is all over it on Twitter already....

Good work.

For those motivated to catch the eye of potential new investors - and remember it is new investors and their capital that drive re-ratings - the primo story for here, Twitter, Instagram and everywhere else is “Australia’s largest silver nugget” together with it’s accompanying photo: https://www.alienmetals.uk/2019/12/alien-confirms-confidence-in-silver-resource-at-elizabeth-hill-silver-project/

Get to it chaps...

Yes. 3SIL and similar instruments are only suited to intra-day trading. They are not intended to track accurately over periods longer than one day, because of a characteristic known as daily reset which creates an undesirable effect referred to as leverage drift.

If the relevant index rises by (say) 15% over the course of a week, you should not expect a return of 45% on your 3x leveraged etf. If you don’t understand why this, you are swimming naked and out of your depth...

Maybe Napthaman will check his secret window on Halifax’s share dealing platform and tell us tomorrow’s opening price for UFO...!

Evidently not.

Spot +6.1% vs the 22.57% indicated by your FTX “instrument”.

FTX is an unregulated cryptocurrency exchange based in Antigua & Barbuda. It can be safely ignored...

https://ftx.com/en/trade/SLV/USD is not a “...silver futures contract that is traded outside market hours.”

It is a so-called “tokenized” exposure to the iShares SLV fund. “Tokenized” as in it is a crypto-currency like blockchain instrument. Perhaps more commonly known as a “****coin”.

The tokens are meant to be linked to the iShares SLV fund, which is a “non-standard” fund that looks like an ETF but is rather less regulated. SLV is meant to offer exposure to the day-to-day price movement of silver bullion by tracking an index called the LBMA Silver Price. It looks like it doesn’t track very well, as it swings between trading at a premium and a discount. Up to 11.4% discount and 7% premium in the last year or so.

If you buy a token you have exchanged your cash for a “digitally tradable asset” linked somehow to the price of an unregulated fund that offers exposure to a Silver index without explaining how.

This takes to a new level the sort of Russian doll chimera’s that the finance industry is famous for using to fleece retail punters.

Don’t see the price of the instrument as shown on the website as in any way indicative of what will happen in the real silver market when trading opens at 11pm. Do not expect to see silver +19.26% because the graph Max linked to shows this...

Be very careful over what and who you believe at the moment.

NYSE open at 2:30 will be as irrelevant today as it was yesterday, or any other day...

TA/charting can work well in certain circumstances. A thinly-traded speculative micro-cap with the potential for game-changing news is not one of those circumstances...

I think everyone here should be honest. UFO’s SP didn’t rise today as a result of any of the drivers that are discussed here. It rose because it has a passing connection with an unpredictable phenomenon impacting PM and equity markets today. I’m not aware of anyone advancing an ex-ante investment hypothesis including the weaponisation of autism and the deployment of diamond hands... Silver hasn’t risen today because of fundamentals, or because of the destruction of fiat money etc. It has risen because there is a secular and indiscriminate social-media driven mania for anything that might be translated into a short squeeze.

Absent the timely impact of r/wsb, we should all be honest as to where today’s closing price might have been.

But.... as investors sometimes we get lucky. And sometimes a lucky incident can spar a re-appraisal and a more permanent change of direction. Let’s hope this is one of those times.

Ahhh - so Citadel's exposure to the price of GME is in their own short book. Wow! In UK regulatory terms that might be enough of a breach to have them shut down if proven...