@Panda4456 said:
If these metal dealers are charging 40-50 per ounce they must know something we don’t! Keep buying!
you'd have to keep buying for a while
1 oz native american round silver is cheapest on apmex currently @ $35+, and they have more than 9900+
I'm assuming as apmex is one of only firms open selling rn, that their jacked up premium/differential is so their employees can get some sleep tonight 😂
@Panda4456 said:
If these metal dealers are charging 40-50 per ounce they must know something we don’t! Keep buying!
you'd have to keep buying for a while
1 oz native american round silver is cheapest on apmex currently @ $35+, and they have more than 9900+
I'm assuming as apmex is one of only firms open selling rn, that their jacked up premium/differential is so their employees can get some sleep tonight 😂
I’ll keep an eye on that and see if they sell out completely
It's clean, in real time and you can drill into the charts pretty seamlessly. It's my go to when I'm not on my trading platforms
m
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
@WQuarterFreddie said:
Have any of you gone on Reddit to look at their discussion? It seems there is no group organized for the Silver trade yet....they are still discussing GME and AMC...
I think the bounce you are seeing in Silver is in anticipation of them shifting to Silver from others.... not the Reddit group...
JMHO.....
I don't know. Something was pushing silver at the end of last week. WSB is soooo busy, it is hard to keep track of what they are pushing. Most of the threads are like a late night frat party when the keg is empty.
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
@Panda4456 said:
If these metal dealers are charging 40-50 per ounce they must know something we don’t! Keep buying!
yes, they know how they can suck more profit from the buyers.
True. But they also probably have to pay more to acquire it.
And if this is the Reddit Insurrectionists, they aren't exactly rational. They are still buying GME at $350 when the company was never worth that and is currently losing more than $4 per share.
The WSB called for $1000 silver. The true believers won't scoff at $40 eagles if they think it is going to $1000.
To our valued customers,
APMEX Statement On Current Market Conditions:
In the last week, we have seen a dramatic shift in Silver demand from our customers. For example, the ratio of ounces sold per day was running about two times earlier in the week and closer to four times the average demand by the end of the week. Once markets closed on Friday, we saw demand hit as much as six times a typical business day and more than 12 times a normal weekend day. Combined with the extremely high demand levels, we are also seeing a surge in new customers. On Saturday alone, we added as many new customers as we usually add in a week.
Any Precious Metal dealer will take a long position in the futures market to protect against spot price exposure when the markets open. We do this because it is our goal not to take a speculative position on metal. The weekends are unique as we are not able to real-time hedge our position. We took an aggressive position this weekend, but clearly could not have predicted the volumes that were seen. We have partnerships around to world that allowed us to cover these long positions, but only to a point. Once we exceeded our comfort levels, we had little choice but to stop the sale of Silver on our website. This was a difficult decision to make and unprecedented in our history.
As we evaluate the markets, it is difficult to know where Silver's price and demand will go in the coming day and weeks. APMEX is highly capitalized and has more than $150 million in inventory to support demand. We have made strategic decisions to procure additional metal, locking up any metal we can find in the market place. We suspect premiums will rise and rise quickly, as we are seeing significant increases in our costs, when we can even locate the metal. It is also highly likely that we will need an additional day or two to fill orders based on current order counts. The one guarantee we can make to our customers is that you will only be sold metal that is on-site, or we have procured the metal with a firm commitment date from our partners. In markets like this, we feel this is the best approach a retailer can take, as no one can predict product availability.
We want to thank our customers for their patience and understanding during these turbulent times. APMEX prides itself on best in class service and delivering on promises to our customers.
Sincerely,
Ken Lewis
CEO, APMEX
At some point, they are going to throw a few of these reddit bozos in jail. Conspiring to manipulate the price of securities isn't legal. And the pump and dump has been illegal forever.
I think you are confusing two things. Pump and Dump is you tell all your friends a stock is WAY undervalued and get them to buy in and then you, individually, sell your shares and leave them all hanging.
The folks on reddit are just buying stock and making it all go higher. They aren't being secretive about any of it...
You're drawing an awfully fine, possibly invisible line.
Read the Reddit. They are conspiring to buy the stock to create a short squeeze. A short squeeze, by its nature, pushes up the price of the stock. That is blatant price manipulation.
No it is not blatant price manipulation. jessewvu is correct. The reddit gang is merely buying up the supply of GME stock in the face of very high demand from the short sellers, causing the price of GME to skyrocket. Our ruling courts have stated that the mere intent to affect prices is not enough; rather, it must be shown that the intent was to cause artificial prices—i.e., prices that were understood to be unreflective of the forces of supply and demand.
The shorters want the GME stock (demand), the reddits own them (supply). Supply and demand. Seems that the shorters got caught with their shorts down. Nothing illegal about that.
Some refer to overgraded slabs as Coffins. I like to think of them as Happy Coins.
@Panda4456 said:
I think I’ll even hold SLV for the long term. We all know silver will rise with inflation over time!
You mean like it did from 1981 to 2000?
If you want to hold silver for a long time, buy physical. The ETF will cost you a few percent every year.
Does anybody go short on SLV and long on physical (or COMEX) silver ?
If I understand correctly how SLV works (I haven't studied it much) the yearly fees draw down the amount of actual physical silver backing. If that is true, it seems like it would be "can't lose" proposition to short SLV and go long a corresponding amount of silver elsewhere.
@Panda4456 said:
I think I’ll even hold SLV for the long term. We all know silver will rise with inflation over time!
You mean like it did from 1981 to 2000?
If you want to hold silver for a long time, buy physical. The ETF will cost you a few percent every year.
Does anybody go short on SLV and long on physical (or COMEX) silver ?
If I understand correctly how SLV works (I haven't studied it much) the yearly fees draw down the amount of actual physical silver backing. If that is true, it seems like it would be "can't lose" proposition to short SLV and go long a corresponding amount of silver elsewhere.
I don't know, but if you're right you'll make/lose the spread between the storage and insurance fees and the ETF fee. Plus, in the case of physical silver, the transactions aren't costless.
I don't know the numbers, but I bet it would be a very small return.
@Panda4456 said:
I think I’ll even hold SLV for the long term. We all know silver will rise with inflation over time!
You mean like it did from 1981 to 2000?
If you want to hold silver for a long time, buy physical. The ETF will cost you a few percent every year.
Does anybody go short on SLV and long on physical (or COMEX) silver ?
You can’t short SLV in a Roth or a traditional IRA, only a taxable account...
Anytime you short something, you are selling something you don’t have. You have margin costs and margin costs would be more expensive than the minimal profit you could make if you executed a simultaneous short of SLV and a long of a single Comex contract.
Shorting is for trading, not long term positioning...
At some point, they are going to throw a few of these reddit bozos in jail. Conspiring to manipulate the price of securities isn't legal. And the pump and dump has been illegal forever.
I think you are confusing two things. Pump and Dump is you tell all your friends a stock is WAY undervalued and get them to buy in and then you, individually, sell your shares and leave them all hanging.
The folks on reddit are just buying stock and making it all go higher. They aren't being secretive about any of it...
You're drawing an awfully fine, possibly invisible line.
Read the Reddit. They are conspiring to buy the stock to create a short squeeze. A short squeeze, by its nature, pushes up the price of the stock. That is blatant price manipulation.
No it is not blatant price manipulation. jessewvu is correct. The reddit gang is merely buying up the supply of GME stock in the face of very high demand from the short sellers, causing the price of GME to skyrocket. Our ruling courts have stated that the mere intent to affect prices is not enough; rather, it must be shown that the intent was to cause artificial prices—i.e., prices that were understood to be unreflective of the forces of supply and demand.
The shorters want the GME stock (demand), the reddits own them (supply). Supply and demand. Seems that the shorters got caught with their shorts down. Nothing illegal about that.
Except there is no way that company is worth $350 much less the $10,000 per share that they are targeting. You say that intent must be shown to cause artificial prices. How is a nearly bankrupt company worth 5,000x what it was selling for? This is not simply supply and demand.
And go read the reddit. They declared war on the hedgies. Some of them have vowed to lose money themselves as long as it helps bankrupt "the enemy".
While I don't think prosecution is a given, if that isn't technically illegal it certainly should be.
@Panda4456 said:
I think I’ll even hold SLV for the long term. We all know silver will rise with inflation over time!
You mean like it did from 1981 to 2000?
If you want to hold silver for a long time, buy physical. The ETF will cost you a few percent every year.
Does anybody go short on SLV and long on physical (or COMEX) silver ?
You can’t short SLV in a Roth or a traditional IRA, only a taxable account...
Anytime you short something, you are selling something you don’t have. You have margin costs and margin costs would be more expensive than the minimal profit you could make if you executed a simultaneous short of SLV and a long of a single Comex contract.
Shorting is for trading, not long term positioning...
SLV might not be the best way to play that. If you use a leveraged ETF, they have built in decay from the daily mark-to-market.
At some point, they are going to throw a few of these reddit bozos in jail. Conspiring to manipulate the price of securities isn't legal. And the pump and dump has been illegal forever.
I think you are confusing two things. Pump and Dump is you tell all your friends a stock is WAY undervalued and get them to buy in and then you, individually, sell your shares and leave them all hanging.
The folks on reddit are just buying stock and making it all go higher. They aren't being secretive about any of it...
You're drawing an awfully fine, possibly invisible line.
Read the Reddit. They are conspiring to buy the stock to create a short squeeze. A short squeeze, by its nature, pushes up the price of the stock. That is blatant price manipulation.
No it is not blatant price manipulation. jessewvu is correct. The reddit gang is merely buying up the supply of GME stock in the face of very high demand from the short sellers, causing the price of GME to skyrocket. Our ruling courts have stated that the mere intent to affect prices is not enough; rather, it must be shown that the intent was to cause artificial prices—i.e., prices that were understood to be unreflective of the forces of supply and demand.
The shorters want the GME stock (demand), the reddits own them (supply). Supply and demand. Seems that the shorters got caught with their shorts down. Nothing illegal about that.
Except there is no way that company is worth $350 much less the $10,000 per share that they are targeting. You say that intent must be shown to cause artificial prices. How is a nearly bankrupt company worth 5,000x what it was selling for? This is not simply supply and demand.
And go read the reddit. They declared war on the hedgies. Some of them have vowed to lose money themselves as long as it helps bankrupt "the enemy".
While I don't think prosecution is a given, if that isn't technically illegal it certainly should be.
LOL. Wall Street insiders hold ALL the cards over the retail investor since forever and have the wherewithal to lobby the government to maintain the status quo, but as soon as the tables get turned, it should be made illegal.
At some point, they are going to throw a few of these reddit bozos in jail. Conspiring to manipulate the price of securities isn't legal. And the pump and dump has been illegal forever.
I think you are confusing two things. Pump and Dump is you tell all your friends a stock is WAY undervalued and get them to buy in and then you, individually, sell your shares and leave them all hanging.
The folks on reddit are just buying stock and making it all go higher. They aren't being secretive about any of it...
You're drawing an awfully fine, possibly invisible line.
Read the Reddit. They are conspiring to buy the stock to create a short squeeze. A short squeeze, by its nature, pushes up the price of the stock. That is blatant price manipulation.
No it is not blatant price manipulation. jessewvu is correct. The reddit gang is merely buying up the supply of GME stock in the face of very high demand from the short sellers, causing the price of GME to skyrocket. Our ruling courts have stated that the mere intent to affect prices is not enough; rather, it must be shown that the intent was to cause artificial prices—i.e., prices that were understood to be unreflective of the forces of supply and demand.
The shorters want the GME stock (demand), the reddits own them (supply). Supply and demand. Seems that the shorters got caught with their shorts down. Nothing illegal about that.
Except there is no way that company is worth $350 much less the $10,000 per share that they are targeting. You say that intent must be shown to cause artificial prices. How is a nearly bankrupt company worth 5,000x what it was selling for? This is not simply supply and demand.
And go read the reddit. They declared war on the hedgies. Some of them have vowed to lose money themselves as long as it helps bankrupt "the enemy".
While I don't think prosecution is a given, if that isn't technically illegal it certainly should be.
LOL. Wall Street insiders hold ALL the cards over the retail investor since forever and have the wherewithal to lobby the government to maintain the status quo, but as soon as the tables get turned, it should be made illegal.
It should be illegal if Wall Street does it. Turning a $3 stock into a $10,000 stock? C'mon.
In fact, people did go to jail in the '80s for a similar real estate scam. The bankers traded the real estate between each other, pushing up the purchase price with each trade to use the higher valued portfolio for collateral.
Whatever happens, I don’t think it will end well. It’s fun to watch and speculate what will happen but my guess is it will come crashing down in the end and will not recover for awhile. That’s my 2 ozs. worth...
@chesterb said:
Whatever happens, I don’t think it will end well. It’s fun to watch and speculate what will happen but my guess is it will come crashing down in the end and will not recover for awhile. That’s my 2 ozs. worth...
My crystal ball is broken but I do agree that it won't end well. Not for GME and not for SLV. These things never do. Some people will make some real money, maybe even some of the stackers around here if they dump some of their hoard. But someone is buying silver at $30+ and is going to ride it down. Someone bought GME at $400 and is going to ride it down to $5 again.
@chesterb said:
Whatever happens, I don’t think it will end well. It’s fun to watch and speculate what will happen but my guess is it will come crashing down in the end and will not recover for awhile. That’s my 2 ozs. worth...
My crystal ball is broken but I do agree that it won't end well. Not for GME and not for SLV. These things never do. Some people will make some real money, maybe even some of the stackers around here if they dump some of their hoard. But someone is buying silver at $30+ and is going to ride it down. Someone bought GME at $400 and is going to ride it down to $5 again.
Do you want to make all forms of gambling illegal or just when it involves buying and selling securities?
Wait....wasnt this a movie? Some old bad guys got caught trying to make a fortune shorting a commodity and went broke when it was bid up the other way---Trading Places
Someone should tell these Redditors that going long a position big-time from a trading perspective only works when the other side doesn't know that you are accumulating the position. I worked with securities traders and they were very stealth about buying when they wanted to accumulate a large position. They bot small quantities in different markets from different parties to hide their intentions. GME worked so well because the hedge funds didn't see it coming and it happened very fast with such a small market and > 100% short.
Why would any one sell silver today when folks are advertising they want to buy large quantities, they are only competing with themselves. What a bunch of lemmings. The smart ones will take their quick profits and the masses will be lead to slaughter.
@keets said:
all I know is that when our economy is based on Investment and Finance instead of Labor and some sort of Manufacturing we are in trouble.
"Investment" has gone out the window along with the fundamentals. What you have today is pure speculation. There is trouble in River City, terrible trouble.
Comments
"been doing this since 2012 and not seen anything like this past 48-72 hours"
you'd have to keep buying for a while
1 oz native american round silver is cheapest on apmex currently @ $35+, and they have more than 9900+
I'm assuming as apmex is one of only firms open selling rn, that their jacked up premium/differential is so their employees can get some sleep tonight 😂
Contrarian? I just thought it was a post count thing......
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I’ll keep an eye on that and see if they sell out completely
WOW!! they're down to almost 200 left 🤯
https://www.apmex.com/product/44447/1-oz-silver-round-buffalo
It's clean, in real time and you can drill into the charts pretty seamlessly. It's my go to when I'm not on my trading platforms
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
81 left ...
They have a WSB analytics page.
34 now! As in the past, physical rules.
sold out 🤯🤯🤯
It's all you bastages refreshing
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Becoming like the V75 times.
alright 879 of these, let's see how long this takes
https://www.apmex.com/product/78211/1-oz-silver-round-saint-gaudens
Except I'm not interested
Collector
75 Positive BST transactions buying and selling with 45 members and counting!
instagram.com/klnumismatics
No you have already earned your badges and medals/metals, Kliao
True. But they also probably have to pay more to acquire it.
And if this is the Reddit Insurrectionists, they aren't exactly rational. They are still buying GME at $350 when the company was never worth that and is currently losing more than $4 per share.
The WSB called for $1000 silver. The true believers won't scoff at $40 eagles if they think it is going to $1000.
+1
and it should be checked right now for tonight's action on SLV so far.
still on sale
i'm calling the silver play DOA
Did everyone else get this from APMEX?
To our valued customers,
APMEX Statement On Current Market Conditions:
In the last week, we have seen a dramatic shift in Silver demand from our customers. For example, the ratio of ounces sold per day was running about two times earlier in the week and closer to four times the average demand by the end of the week. Once markets closed on Friday, we saw demand hit as much as six times a typical business day and more than 12 times a normal weekend day. Combined with the extremely high demand levels, we are also seeing a surge in new customers. On Saturday alone, we added as many new customers as we usually add in a week.
Any Precious Metal dealer will take a long position in the futures market to protect against spot price exposure when the markets open. We do this because it is our goal not to take a speculative position on metal. The weekends are unique as we are not able to real-time hedge our position. We took an aggressive position this weekend, but clearly could not have predicted the volumes that were seen. We have partnerships around to world that allowed us to cover these long positions, but only to a point. Once we exceeded our comfort levels, we had little choice but to stop the sale of Silver on our website. This was a difficult decision to make and unprecedented in our history.
As we evaluate the markets, it is difficult to know where Silver's price and demand will go in the coming day and weeks. APMEX is highly capitalized and has more than $150 million in inventory to support demand. We have made strategic decisions to procure additional metal, locking up any metal we can find in the market place. We suspect premiums will rise and rise quickly, as we are seeing significant increases in our costs, when we can even locate the metal. It is also highly likely that we will need an additional day or two to fill orders based on current order counts. The one guarantee we can make to our customers is that you will only be sold metal that is on-site, or we have procured the metal with a firm commitment date from our partners. In markets like this, we feel this is the best approach a retailer can take, as no one can predict product availability.
We want to thank our customers for their patience and understanding during these turbulent times. APMEX prides itself on best in class service and delivering on promises to our customers.
Sincerely,
Ken Lewis
CEO, APMEX
I've always wondered if there were an opening for a global micro-hedge player for the weekends
Risky for the global micro-hedge player...LOL
"Silver surge" has made the homepage on CNN:
I still have rolls of ASE's I paid $180 for many many years ago. People are actually paying $800 a roll?
set your alarms for 7:30 am est
No it is not blatant price manipulation. jessewvu is correct. The reddit gang is merely buying up the supply of GME stock in the face of very high demand from the short sellers, causing the price of GME to skyrocket. Our ruling courts have stated that the mere intent to affect prices is not enough; rather, it must be shown that the intent was to cause artificial prices—i.e., prices that were understood to be unreflective of the forces of supply and demand.
The shorters want the GME stock (demand), the reddits own them (supply). Supply and demand. Seems that the shorters got caught with their shorts down. Nothing illegal about that.
80% of the board just got off the train...
So far, so lame.
Does anybody go short on SLV and long on physical (or COMEX) silver ?
If I understand correctly how SLV works (I haven't studied it much) the yearly fees draw down the amount of actual physical silver backing. If that is true, it seems like it would be "can't lose" proposition to short SLV and go long a corresponding amount of silver elsewhere.
I don't know, but if you're right you'll make/lose the spread between the storage and insurance fees and the ETF fee. Plus, in the case of physical silver, the transactions aren't costless.
I don't know the numbers, but I bet it would be a very small return.
You can’t short SLV in a Roth or a traditional IRA, only a taxable account...
Anytime you short something, you are selling something you don’t have. You have margin costs and margin costs would be more expensive than the minimal profit you could make if you executed a simultaneous short of SLV and a long of a single Comex contract.
Shorting is for trading, not long term positioning...
Except there is no way that company is worth $350 much less the $10,000 per share that they are targeting. You say that intent must be shown to cause artificial prices. How is a nearly bankrupt company worth 5,000x what it was selling for? This is not simply supply and demand.
And go read the reddit. They declared war on the hedgies. Some of them have vowed to lose money themselves as long as it helps bankrupt "the enemy".
While I don't think prosecution is a given, if that isn't technically illegal it certainly should be.
SLV might not be the best way to play that. If you use a leveraged ETF, they have built in decay from the daily mark-to-market.
Hashtag Silversqeeze is trending on twitter.
It's on like donkey kong.
$29.49 now
LOL. Wall Street insiders hold ALL the cards over the retail investor since forever and have the wherewithal to lobby the government to maintain the status quo, but as soon as the tables get turned, it should be made illegal.
It should be illegal if Wall Street does it. Turning a $3 stock into a $10,000 stock? C'mon.
In fact, people did go to jail in the '80s for a similar real estate scam. The bankers traded the real estate between each other, pushing up the purchase price with each trade to use the higher valued portfolio for collateral.
Whatever happens, I don’t think it will end well. It’s fun to watch and speculate what will happen but my guess is it will come crashing down in the end and will not recover for awhile. That’s my 2 ozs. worth...
My crystal ball is broken but I do agree that it won't end well. Not for GME and not for SLV. These things never do. Some people will make some real money, maybe even some of the stackers around here if they dump some of their hoard. But someone is buying silver at $30+ and is going to ride it down. Someone bought GME at $400 and is going to ride it down to $5 again.
Wall Street and the SEC are in bed like the FAA and Boeing.
There should be very little sympathy for the hedge fund principals who short and get swarmed.
Probably some more regulation coming.
Out of stock
Do you want to make all forms of gambling illegal or just when it involves buying and selling securities?
Wait....wasnt this a movie? Some old bad guys got caught trying to make a fortune shorting a commodity and went broke when it was bid up the other way---Trading Places
Someone should tell these Redditors that going long a position big-time from a trading perspective only works when the other side doesn't know that you are accumulating the position. I worked with securities traders and they were very stealth about buying when they wanted to accumulate a large position. They bot small quantities in different markets from different parties to hide their intentions. GME worked so well because the hedge funds didn't see it coming and it happened very fast with such a small market and > 100% short.
Why would any one sell silver today when folks are advertising they want to buy large quantities, they are only competing with themselves. What a bunch of lemmings. The smart ones will take their quick profits and the masses will be lead to slaughter.
Loves me some shiny!
"Investment" has gone out the window along with the fundamentals. What you have today is pure speculation. There is trouble in River City, terrible trouble.
Too bad I didn’t buy last week but I will be getting 100 shares today! Of slv...
As of the moment I'm up $1,500. Got in on the higher side.