• "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"

The Lunatic Fringe - Trading talk.

Zed

The Bullish Bear.
Midas Member
Site Supporter ++
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
17,719
Likes
18,055
Location
Watching the Sideshow!
Silver July delivery 15,360 contracts to date with 1,369 contracts still open for a potential 16, 729.

OI isn't shrinking fast... I have to assume it is a struggle to deliver.
 

Voodoo

Gold Member
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
1,947
Likes
2,502
Location
Deep Underground Bunker
ASX Gold tribe have gone from +1% to -1% so far today... soft, soft, soft.
Unless the cartel is completely out of gas they would live getting a dose of Robinhooders money.
 

Zed

The Bullish Bear.
Midas Member
Site Supporter ++
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
17,719
Likes
18,055
Location
Watching the Sideshow!
They don't have it.
Yes... and it would seem are struggling to get it.

There are currently 25,992 contracts worth or Silver in the Registered for delivery category @ the warehouses.

Heading toward 16K contracts going for delivery has to be stressful because you can guarantee that a good % of those with the metal aren't short into delivery.
 

savvydon

Site Supporter
Site Supporter
Platinum Bling
Joined
Dec 14, 2010
Messages
3,745
Likes
4,009
Yes... and it would seem are struggling to get it.

There are currently 25,992 contracts worth or Silver in the Registered for delivery category @ the warehouses.

Heading toward 16K contracts going for delivery has to be stressful because you can guarantee that a good % of those with the metal aren't short into delivery.
My experience is, despite the tremendous run up in silver this week, there are still huge premiums, especially silver Eagles. Dealers can't find enough of them. Supply appears tight and large hands don't seem to letting go of what they have.

Furthermore, on the retail side, interest/demand seems to be intensifying. This is really starting to feel like the beginning of the silver bull.
 

Voodoo

Gold Member
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
1,947
Likes
2,502
Location
Deep Underground Bunker
My experience is, despite the tremendous run up in silver this week, there are still huge premiums, especially silver Eagles. Dealers can't find enough of them. Supply appears tight and large hands don't seem to letting go of what they have.

Furthermore, on the retail side, interest/demand seems to be intensifying. This is really starting to feel like the beginning of the silver bull.
Certainly, at what price would you consider parting with a large portion of metal? A long time ago I thought I would be able to buy a house with a 100 oz. Not a great house but a decent thing like I live in now. That isn't as impossible as it seems now.
 

Zed

The Bullish Bear.
Midas Member
Site Supporter ++
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
17,719
Likes
18,055
Location
Watching the Sideshow!
Certainly, at what price would you consider parting with a large portion of metal? A long time ago I thought I would be able to buy a house with a 100 oz. Not a great house but a decent thing like I live in now. That isn't as impossible as it seems now.
My work has suggested 158 to 199 at the very outside, I will probably be cautious and exit early depending on what the rest of the world is looking like at the time.
 

Zed

The Bullish Bear.
Midas Member
Site Supporter ++
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
17,719
Likes
18,055
Location
Watching the Sideshow!

Zed

The Bullish Bear.
Midas Member
Site Supporter ++
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
17,719
Likes
18,055
Location
Watching the Sideshow!
I watch this guy all the time. Lost a few pounds lately.

I find him a bit on the rabid side like old Mr Willie... much saner granted but hard to listen to.
 

Goldhedge

Moderator
Site Mgr
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 28, 2010
Messages
51,380
Likes
94,638
Location
Rocky Mountains
Move along, nothing to see here....

Screen Shot 2020-07-22 at 11.32.03 PM.png
 

Zed

The Bullish Bear.
Midas Member
Site Supporter ++
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
17,719
Likes
18,055
Location
Watching the Sideshow!

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,533
Likes
2,470
Trailing stops on options is extremely challenging. I haven't mastered that one.
 

jelly

Silver Miner
Seeker
Joined
Dec 6, 2010
Messages
1,056
Likes
995
More weak action in GDX. The large caps have barely done anything on this recent move. Seems like buyers are running out of steam.
 

Strawboss

Apocaloptimist
Site Mgr
Midas Member
Site Supporter ++
Joined
Mar 31, 2010
Messages
8,444
Likes
16,738
Remember Louky's box thing...

Top of the box was 1890... futures trading currently at 1895ish...

The next pivot is 1899...and the next upper box starts at 1908...
 

oldgaranddad

Platinum Bling
Platinum Bling
Midas Supporter ++
Joined
Feb 21, 2012
Messages
5,611
Likes
10,401
Location
On the top shelf.
Interesting take....

Millennials Flood Into Precious Metals: Is Gold The Next TSLA?
https://www.zerohedge.com/markets/millennials-flood-precious-metals-gold-next-tsla

As precious metals accelerated higher in the last few days, we joked (kinda) on Twitter that the surge in momentum would soon become a magnet for the new trading gurus manning their desks at home - whether in China or Chinatown - and send it to new all time highs.

One day later, it's happening as Robinhood users flood into the gold and silver ETFs. For SLV, the number of RH users holding the ETF has surged from around 15,000 to 20,000 in the last few days...
 
Joined
May 10, 2020
Messages
399
Likes
437
Location
Down South
Remember Louky's box thing...

Top of the box was 1890... futures trading currently at 1895ish...

The next pivot is 1899...and the next upper box starts at 1908...
Highest ever London Gold Fix was $1896. You got guys who have been correctly bullish getting cautious while guys who have been bearish are looking for c. $2000.
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,533
Likes
2,470
Amazon convincingly broke below the 15 day MA.

[#MarketLeaders]

6FSYiJFq.png
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,533
Likes
2,470
Ditto Apple.

[#MarketLeaders]

d0q6d0pU.png
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,533
Likes
2,470
MSFT poised to potentially take out a structure @ 4% above the 50 day MA.

[#MarketLeaders]

dXeL6dLI.png
 
Joined
May 10, 2020
Messages
399
Likes
437
Location
Down South
Don't see this guy around too much anymore. You thought you were bullish? Couple months old but the message is the same.
I do not think this is the same as the last run. Hang in there.


 

WillA2

Silver Member
Silver Miner
Site Supporter
Joined
Dec 16, 2019
Messages
1,255
Likes
2,990
Certainly, at what price would you consider parting with a large portion of metal? A long time ago I thought I would be able to buy a house with a 100 oz. Not a great house but a decent thing like I live in now. That isn't as impossible as it seems now.
When it's high enough I can pay off my mortgage with some of what I have then I will sell.
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,533
Likes
2,470
Inbox__118_179_messages__96_028_unread_.jpg
 
Joined
May 10, 2020
Messages
399
Likes
437
Location
Down South
I wouldn't worry too much about Robinhood and what they buy or don't buy. Gonna go where it wants to go regardless. The banks and the funds drive it anyway but a bit more money coming in from the little guy won't hurt.
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,533
Likes
2,470
MSFT and AMZN, if you look closely at the charts I posted you will see that each of them just made a lower high.

[A setup for walking down the stairs.]

[AAPL, too, arguably.]

[#MarketLeaders]
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,533
Likes
2,470
I wouldn't worry too much about Robinhood and what they buy or don't buy. Gonna go where it wants to go regardless. The banks and the funds drive it anyway but a bit more money coming in from the little guy won't hurt.
I would think that they might make the trading a little more sloppy than usual.
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,533
Likes
2,470
Stock market turned lower. What's the news? The jobs report?