>53% of registered has flipped ownership so far on the March contract.
Unless 53% of silver leaves Registered and the vault, then it's just a shell game moving the pieces back and forth. Activity full of sound and fury, signifying nothing.
Spot silver outpreformed both silver & gold stocks, and gold today. There has been recent activity in the junior silver exploration space since gold made that new all time high end of February. A bunch of junior stocks are up 50% to 100% on normal volume inside a few trading days. I think today's silver rally caught the sector off guard. Like it wasn't part of the plan because silver is up over 3% and SILJ was sub 3%. Normally I'd expect SILJ to be up something like 4 to 5 percent on a big candle like silver had today making multi week highs.
The SGR chart looks great and has finnaly started moving down and away from the 90 level which I've been waiting for. Silver has a lot of catching up to do. We can go take out 26 and we're still going to be way behind.
While I don't want to celebrate too early its likely we get a $6 move in silver in a vertical line straight up to 28 from 22. We had two vertical six dollar moves from 18 to 24 in Q3 2022 and second from 20 to 26 in Q1 2023.
Smart money is slowly accumulating the equities. Gold 200 day moving average will breach $2000 soon perhaps this time next week it's currently at $1990 and climbing.
While everyone is distracted in clown world (crypto/tech bubble) speculators and insiders are gearing up for what I hope is going to be a precious metals super cycle.
Silver should have never imploded first trading day of December through end of February. I suspect that accomplished taking entire options strike stacks for the leaps expiring this January that just passed.
CPI prints are diapointing as rigged as they are and we have to unwind 3 months of selling on top of repricing for fill-in-the- blank.
>53% of registered has flipped ownership so far on the March contract.
Unless 53% of silver leaves Registered and the vault, then it's just a shell game moving the pieces back and forth. Activity full of sound and fury, signifying nothing.
Spot silver outpreformed both silver & gold stocks, and gold today. There has been recent activity in the junior silver exploration space since gold made that new all time high end of February. A bunch of junior stocks are up 50% to 100% on normal volume inside a few trading days. I think today's silver rally caught the sector off guard. Like it wasn't part of the plan because silver is up over 3% and SILJ was sub 3%. Normally I'd expect SILJ to be up something like 4 to 5 percent on a big candle like silver had today making multi week highs.
The SGR chart looks great and has finnaly started moving down and away from the 90 level which I've been waiting for. Silver has a lot of catching up to do. We can go take out 26 and we're still going to be way behind.
While I don't want to celebrate too early its likely we get a $6 move in silver in a vertical line straight up to 28 from 22. We had two vertical six dollar moves from 18 to 24 in Q3 2022 and second from 20 to 26 in Q1 2023.
Smart money is slowly accumulating the equities. Gold 200 day moving average will breach $2000 soon perhaps this time next week it's currently at $1990 and climbing.
While everyone is distracted in clown world (crypto/tech bubble) speculators and insiders are gearing up for what I hope is going to be a precious metals super cycle.
Silver should have never imploded first trading day of December through end of February. I suspect that accomplished taking entire options strike stacks for the leaps expiring this January that just passed.
CPI prints are diapointing as rigged as they are and we have to unwind 3 months of selling on top of repricing for fill-in-the- blank.