And the fun begins. . .
derryb
Posts: 37,491 ✭✭✭✭✭
major bullion dealers on and off ebay have pulled most of their silver products while greatly increasing their premiums on what remains.
Appears to be wait and see. First clue will come when futures markets open Sunday evening. A knee jerk reaction will push spot much higher, only to prove to be temporary.
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I think you are missing the why. Demand for physical product has been off the chart. Dealers can’t restock so they must pull and or raise premiums. The ones that have some leftover product can sell and others who don’t know will get caught short
Frog goes "Reddit Reddit".
Please let this happen.
Bulgarians?
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
A lot of major bullion ebay sellers disappeared from the ASE tubes listings last night, yet none of them show up in completed sales for the last 24 hrs. I didn't check other forms of silver bullion but I can bet the ASEs or a good indicator that products are being pulled because sudden higher prices are expected. Without an open spot market it remains unknown.
And why the sudden demand? Reddit attack? I think there is a valid question of exactly what affect all of this talk of going after the shorts with silver is going to do to the price in the short term. I believe price in the last few days is telling many sellers of silver to "wait and see." I suspect they believe there are even better profits to be made in the short term and then suddenly there will be much more silver available at the right price.
This is what happens to the available supply when a sudden surge in price is viewed to be "right around the corner." If prices do not jump, look for supply to return.
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Don't fight the reddit boys! I might have to see what their play is and hop along.
From the CEO at SDBullion:
"In the 24 hours proceeding Friday market close, SD Bullion sold nearly 10x the number of silver ounces that we normally would sell in an entire weekend leading to Sunday market open.
In a normal market, we normally can find at least one supplier/source willing to sell some ounces over the weekend if we exceed our long position (the number of ounces we predict we will sell over the weekend).
However, everyone we talk to is afraid of a gap up at Sunday night market open.
This is about ready to get really interesting as there was very little inventory left from suppliers/mints going into Friday close.
Our direct AP supplier informed us after close on Friday that the "US Mint will be on allocation for the remainder of Type 1" (Current Silver Eagle Design).
Our sales for the month of January exceeded any one month last year during the heart of the pandemic. It was an all-time record month in our company history."
ZeroHedge makes debut at White House press corps briefing
hop is what you want with a silver trade
hop in then hop right out.
they don't have the fire power to kill the silver shorts.
I’m sitting on a couple monster boxes. Let’s say the spot price jumped to $50, I’d sell one, maybe both of them, but how does one quickly dispose of such heavy items? This is the question I keep coming back to with the idea that redditers will drive up SLV. It’s one thing to drive up a stock, but another to buy or sell large quantities of silver.
We also don’t know how the relation between SLV and spot will go, if such an event were to unfold.
Will be an interesting week.... new dynamics are in play.
From a stacker point of view all they have to do is give them a good scare.
ZeroHedge makes debut at White House press corps briefing
tick tock, tick tock, tick . . .
ZeroHedge makes debut at White House press corps briefing
plus, they have to fight world traders.
the futures and spot markets are global markets.
"Till markets reopen Sunday?"
Tells me it is not a supply (availability) issue, it is price (greed) issue.
ZeroHedge makes debut at White House press corps briefing
they want to hedge.
I bet they sold a lot when markets were closed and are scared to sell without a hedge.
https://www.zerohedge.com/markets/reddit-preparing-unleash-worlds-biggest-short-squeeze-silver
This will be a fun week. Everyone has an opinion but nobody really knows what is going to happen which creates great opportunities.
T-minus 6 hours and 13 minutes
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Hey Blitz, is the crimex broken yet? lol
ZeroHedge makes debut at White House press corps briefing
Who all is pulling out their stack to look at where to start selling? I have about 15 rolls of 40% I’d like to dump first.
Seems to me like this could be a flash in the pan and one may have to move fast to take advantage of the craziness.
Wish the ruskies wouldn't interfere with it
Depends how much money theses Reddit kids have and I suppose if the Bulgarians, Chinese, Indians and others decide to join the party. I will certainly be watching (and hopefully selling). 🍿🍿🍿
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
I wonder what it will feel like to drive a Ferrari
Well, we know some of them have a lot more than they used to, after taking their GameStop gains.
Well, I don't know about a Ferrari.... but I could settle for a new F150 pickup!
Shouldn't just look down your nose at them....you do realize that many there are not "kids" but are actual adults with actual jobs, right?
Sure, some are young, and in college, but many are past that point.
Reminds me of the old story around Microsoft and the area.....a "kid" would go to a car dealership, dressed normally in jeans and a t-shirt, and would get ignored because salespeople stereotyped them as "kids with no money"....
They had the money...from stock. People missed out.
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
Not looking down my nose at anyone. In fact I hope them little whippersnappers are able to take it TO DA MOON!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
So who's going to actually buy your tubes and monster boxes of ASEs when all this spikes tomorrow?
Here's a warning parable for coin collectors...
I might call APMEX tomorrow just to see what they’re offering…out of curiosity.
Where is the popcorn gif?
We are going with this now. Get with the program
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......
ZeroHedge makes debut at White House press corps briefing
Take mine, and the payments 😂😂
ZeroHedge makes debut at White House press corps briefing
Monster boxes selling for near 20K on eBay right now.
Need the John Belushi Luz Taylor Heimlich move
Some of that premium must be eBay fees though.
Tick tock, tick tock
Reminds me of the approach of midnight on 12/31/1999
ZeroHedge makes debut at White House press corps briefing
100oz silver bars started around 2900 this morning and are closing in the $3600, one over 4k.
20 minutes until go time
They call each other "retards"
Sorry if that slang word we all know offends anyone. But THAT THEY AIN'T
ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240
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Futures up 23%
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
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Opening print.
EPIQ! Go Gutter!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
$40. oz. coming?
https://www.fxempire.com/forecasts/article/silver-may-rally-above-39-on-range-breakout-697221