Silver short squeeze WE PUMPIN OVER HERE GET ON BOARD

Thelonious

Silver is the most manipulated market in the world.



I've seen sickening volumes pf paper silver undo weeks of steady gains in a matter of hours. Seen it too many times!!


One of the most critical materials for electronic production.

Strong demand outlook regardless of short squeeze.

Huge demand projections to meet solar panel production targets.

Excellent market fundamentals.

Tiny real market (huge deriviative market)



GET ON IT !! WE PUMPING OVER HERE

thomasm

Best exposure to silver ? Miners, ETFs ?

neris

Probably an etf. Apparently there's something on the wall street bets reddit about a push on a silver etf

Qwertyminger

Thelonious wrote: »

Silver is the most manipulated market in the world.



I've seen sickening volumes pf paper silver undo weeks of steady gains in a matter of hours. Seen it too many times!!


One of the most critical materials for electronic production.

Strong demand outlook regardless of short squeeze.

Huge demand projections to meet solar panel production targets.

Excellent market fundamentals.

Tiny real market (huge deriviative market)



GET ON IT !! WE PUMPING OVER HERE

I just applied for Blackrock ETF.

It'll take a few days.

Any other buying platform recommended?

I own a lot of physically backed gold already but it stopped rising so dramatically this year unfortunately so I'm looking for a distraction anyway, this should be fun.

daheff

any silver miner stocks that could benefit form this?

really don't want to be left holding physical silver if this goes belly up

JeffKenna

What am I going to do with all this free money?

daheff

JeffKenna wrote: »

What am I going to do with all this free money?

i believe coke & hookers would be the non-pc answer

JeffKenna

daheff wrote: »

i believe coke & hookers would be the non-pc answer

https://youtu.be/btAbU1sPqIM

My favourite YouTube clip of all time.

Craig_David

https://www.reddit.com/r/wallstreetbets/comments/l68ill/the_biggest_short_squeeze_in_the_world_slv_silver/?sort=new

That thread on reddit seems to be getting plenty of attention anyway .

TheBetsy

So guys how are we all buying silver? Physical or ETF or???? - in the reddit Post they mention $SLV etf but I don't think we can buy that here? I think revolut has access to gold/silver?

Low Energy Eng

I'm fortunate i have access to us stocks so placed an order for $SLV.

Be interesting to see how the media react to this one, as they hate anything precious metals related.

Craig_David

TheBetsy wrote: »

So guys how are we all buying silver? Physical or ETF or???? - in the reddit Post they mention $SLV etf but I don't think we can buy that here? I think revolut has access to gold/silver?

I just used Revolut

hometruths

TheBetsy wrote: »

So guys how are we all buying silver? Physical or ETF or???? - in the reddit Post they mention $SLV etf but I don't think we can buy that here? I think revolut has access to gold/silver?

Revolut by far the simplest but do they back it with physical?

TheBetsy

schmittel wrote: »

Revolut by far the simplest but do they back it with physical?

Agreed - Not too sure how it works but just bought some there and it mentions that silver will be held with a financial institution on your behalf and no physical silver will be delivered so im guessing it is backed with physical? Must have a proper look at the T's and C's.

cronos

Has there been any comment from the original guy who did the game stop analysis on this silver squeeze?

I sent a message to Degiro about adding iShares Silver Trust
NYSEARCA: SLV

I note that this "The iShares® Silver Trust (the 'Trust') seeks to reflect generally the performance of the price of silver."

I wonder how generally it will reflect it in a squeeze scenario.

hometruths

TheBetsy wrote: »

Agreed - Not too sure how it works but just bought some there and it mentions that silver will be held with a financial institution on your behalf and no physical silver will be delivered so im guessing it is backed with physical? Must have a proper look at the T's and C's.

If Revolut buy an ounce with a financial institution for every ounce a revolut customer buys, it will move the price. I guess with #silversqueeze trending worldwide they'd probably be risky not to!

hometruths

cronos wrote: »

Has there been any comment from the original guy who did the game stop analysis on this silver squeeze?

I sent a message to Degiro about adding iShares Silver Trust
NYSEARCA: SLV

I note that this "The iShares® Silver Trust (the 'Trust') seeks to reflect generally the performance of the price of silver."

I wonder how generally it will reflect it in a squeeze scenario.

SLV is a good way to play it in my opinion.

If everybody who is talking about silver ordered 3 x 1 oz coins from somebody like https://www.bullionbypost.ie/or global equivalent the price of silver would rocket in days.

I think the best way to do this is, say if you decide to put €1000 into silver - put €900 into SLV and €100 into coins. - i.e just put 10% into physical.

What the WSB guys understood with Gamestop was they had to create the conditions to move the price first, then momentum took over. In silver the best way to move the price is if everybody buys a few physical ozs.

TheBetsy

Another could be $PSLV? This is available already on Degiro from what I can see

Cute Hoor

schmittel wrote: »

What the WSB guys understood with Gamestop was they had to create the conditions to move the price first, then momentum took over. In silver the best way to move the price is if everybody buys a few physical ozs.

The WSB guys surely aren't going to be buying a few physical ozs, costs associated with buying and selling, the effort & delay in buying and selling, presumably these are zero fees push button instant type guys

I have 4 XAG on Revolut. Is this a better route than $SLV? Someone might explain the rationale.

From my (very limited) knowledge and research I have to think that people who are expecting the volatility and increases we have seen with Gamestop happen with silver will be very disappointed. I think the size of the the stockpiles existing and the amount of silver out there would preclude any sudden sustained dramatic rises. If people win big on Gamestop and then dump it in silver we may see some spikes though, before people lose interest and it drops. Maybe that would be the best time to buy?

That said, it does look like Silver, leaving aside all this short business, looks a good bet to hold long term.

hometruths

Cute Hoor wrote: »

The WSB guys surely aren't going to be buying a few physical ozs, costs associated with buying and selling, the effort & delay in buying and selling, presumably these are zero fees push button instant type guys

Well somebody seems to be buying it...

https://twitter.com/TheLastDegree/status/1355793686123184128

https://twitter.com/Pats12P/status/1355786832882098181

https://twitter.com/TheLastDegree/status/1355782343668207618

Lots of dealers reporting either out of stock, or unprepared to accept orders until market opens - i.e they are not going to sell at Friday's closing price because they think market is going to jump at the open.

drunkmonkey

You won't cause a short squeeze by buying SLV, it's t&c say it can hold paper promises.
It's on etoro if you want to spread bet on it.

TheBetsy

drunkmonkey wrote: »

You won't cause a short squeeze by buying SLV, it's t&c say it can hold paper promises.
It's on etoro if you want to spread bet on it.

I'm thinking $PSLV is the way to go for shares. Price is based on real holdings of silver. Additionally, buying some silver on revolut which according to Revolut is backed by real physical silver held by a custodian. You can buy silver on revolut at the weekend at Friday close spot price

Bob24

3+1 ways to own physical silver:

1) If you want an ETF backed by physical silver, PSLV is the most renowned one (issued by Sprott which is a big player in precious metals). Another option is ZSIL (which is backed by physical silver held by very solid Swiss bank).

2) If you want to own physical silver under your name but without having to store it yourself, bullionstar.com has very good service. They'll sell/buy to/from you and store it for you in their vault in Singapore if you like. Of course storage isn't free. But if you are buying an ETF you'll be paying for storage as well (the amount of silver corresponding to one share of the ETF is slowly reduced in order to cover the storage cost). This is the one I would recommend but you will find other websites offering the same kind of serve if you don't like that one.

3) If you want to take delivery in person and store it yourself, there is a place called Merrion Gold in Dublin which sells silver coins and bars (and will also buy back from you (obviously with a spread). Or many online shops shipping silver by post (they all seem to be going out of stock this weekend, but I suspect this is temporary while they are restocking and waiting for future contract to start trading next week to be more clear on what the price should be).

+1) I guess a 4rth way is to hold mining stocks but it isn't quite the same thing as holding the actual metal. Two companies I like are Fortuna Silver Mines (FSM) and First Majestic Silver (AG - the WallStreetBet crown seems to be aiming that one for a short squeeze, but only with minor success to date).

Bob24

TheBetsy wrote: »

I'm thinking $PSLV is the way to go for shares. Price is based on real holdings of silver. Additionally, buying some silver on revolut which according to Revolut is backed by real physical silver held by a custodian. You can buy silver on revolut at the weekend at Friday close spot price

TBH I haven't checked, but I would be surprised if the thing on Revolut was backed by the physical thing. Most likely it is some kind of derivative.

TheBetsy

Bob24 wrote: »

TBH I haven't checked, but I would be surprised of the thing in Revolut was backed by the physical thing. Most likely it is some kind of derivative.

Kind of sceptical of it myself but who knows, this is from their t's and c's anyway "The precious metals held by Revolut users on the Revolut app are backed by real precious metals that we buy and hold with a secure financial institution."

hometruths

TheBetsy wrote: »

Kind of sceptical of it myself but who knows, this is from their t's and c's anyway "The precious metals held by Revolut users on the Revolut app are backed by real precious metals that we buy and hold with a secure financial institution."

I guess it must be at least hedged in some way. I bought some on Revolut today after reading that the bullion dealers were reporting massive sales yesterday. Revolut were still selling at Friday’s close price whereas dealers would not. That suggests it might gap up tonight, decent risk/reward imho

TheBetsy

schmittel wrote: »

I guess it must be at least hedged in some way. I bought some on Revolut today after reading that the bullion dealers were reporting massive sales yesterday. Revolut were still selling at Friday’s close price whereas dealers would not. That suggests it might gap up tonight, decent risk/reward imho

I was thinking the exact same thing but nearly seems too good to be true?! 😅 Time will tell i guess

hometruths

TheBetsy wrote: »

I was thinking the exact same thing but nearly seems too good to be true?! �� Time will tell i guess

It does that!

But have been investing in gold and silver for a while and happy to hold a little more in Revolut if all this squeeze turns out to be hype.

On the other hand, more than once I’ve held back thinking, that just seems too bloody obvious a trade, only for it to turn out to have been just that!

I’m expecting price will pick up tonight and then get slammed, but think it won’t get slammed too far below Friday’s close. This will be rinsed and repeated for a few days. It will then pick up real momentum later in the week.

In WSB style I should add don’t listen to me, this is not financial advice, more than likely I’m wrong because I’m just a retard who likes silver.

But...

YOLO

cronos

Looks like it's not possible iShares Silver Trust on Degiro. See the following.

"Due to the new PRIIPS legislation, as of the 2nd of January 2018 a number of products are now unavailable for European investors. Following the change, all advanced products such as derivatives and ETFs must have publicly available from the provider a Key Investor Information Document (KIID) in any language or a Key Information Document (KID) in the local language of the investor. Products which do not meet the KID/KIID requirements are longer available for European investors."

Craig_David

what about the wisdom tree ETP on Degiro?

Objectives:
WisdomTree Physical Silver is designed to enable investors to gain a simple and cost-efficient way to access the silver market by providing a return equivalent to the movements in the silver spot price less the applicable management fee. The product reflects the performance of the underlying spot price such that.
Securities in this ETP are structured as debt securities and not as shares (equity). They are traded on exchange just like shares in a company. This ETP is backed by physical allocated Silver held by an independent custodian, HSBC Bank plc. Only metal that conforms with the London Bullion Market Association's(LBMA) rules for Good Delivery for gold and silver can be accepted by the custodian. Each physical bar is segregated, individually identified and allocated.

cronos

Degiro have now added $AG (First Majestic Silver Corp). Not sure I'm going to invest anything yet but at least the option is there now.

JTMan

Is the price of silver static/fixed at the weekend on Revolut?

I can see the price moving but it is static most of the time.

If it is fixed for the weekend, is now the best time to buy at the fixed price before markets open?

Thanks.

hometruths

JTMan wrote: »

Is the price of silver static/fixed at the weekend on Revolut?

I can see the price moving but it is static most of the time.

If it is fixed for the weekend, is now the best time to buy at the fixed price before markets open?

Thanks.

I assumed it was fixed when I bought this morning, but it seems to have gone up about 1% since then, but also seems to be static now. A bit odd.

An Ri rua

I've been using Bullionvault.com (UK) since 2009. Seriously good platform and service. It may take a few days to get set up but it's worth it.

I also stack silver ounce coins and have been amassing a collection of antique and scrap silver since 09. And gold.
Here's to 2021...

Tefral

I bought some silver for the craic based on this thread when it was posted. Just checked my Revolut and its gone up 9.16% since i bought it.

CruelCoin

Craig_David wrote: »

I just used Revolut

I'd be carefull with Revolut.

I tried to buy GME with them and they declined my trade.
When I opened up a support chat to ask why, their opening comment in the chat was a block of text saying how I had no EU legal protections as they are not a EU registered organisation....

I wouldn't bank on the safety of investment there.

cronos

cronos wrote: »

Degiro have now added $AG (First Majestic Silver Corp). Not sure I'm going to invest anything yet but at least the option is there now.

AG is up 36 percent pre market

crushproof

cronos wrote: »

AG is up 36 percent pre market

Yeah thanks for that tip, got in when it was initially recommended. Didn't expect such a surge but very nice start to the week. Here's hoping it holds at open.

cronos

crushproof wrote: »

Yeah thanks for that tip, got in when it was initially recommended. Didn't expect such a surge but very nice start to the week. Here's hoping it holds at open.

Sadly I didn't tip it. It only became available on Degiro yesterday so today is the earliest I could get in. I'd consider getting in on a dip myself but not sure after that. I was hoping to catch that initial enthusiasm.

crushproof

cronos wrote: »

Sadly I didn't tip it. It only became available on Degiro yesterday so today is the earliest I could get in. I'd consider getting in on a dip myself but not sure after that. I was hoping to catch that initial enthusiasm.

Ah sorry, must have been someone else in the other thread. Surprised it wasn't on DeGiro before, I had purchased on T212 last week.

billybonkers

CruelCoin wrote: »

I'd be carefull with Revolut.

I tried to buy GME with them and they declined my trade.
When I opened up a support chat to ask why, their opening comment in the chat was a block of text saying how I had no EU legal protections as they are not a EU registered organisation....

I wouldn't bank on the safety of investment there.

When was this? I have not had any issue with them apart from Thursday when they were having technical difficulties. They are still allowing buying of GME and in fraction.

You would have got a long email explaining this and that you are protected under UK legislation now due to Brexit...

Bob24

Looks like Trading 212 are now preventing purchases of silver futures.

Still deciding whether this kind of thing is good of bad news :-)

https://twitter.com/cryptosunray/status/1356197390848561153?s=21

Bob24

crushproof wrote: »

Ah sorry, must have been someone else in the other thread. Surprised it wasn't on DeGiro before, I had purchased on T212 last week.

I can confirm First Majestic has always been available on DEGIRO (US, Canadian, and German listings all available). Maybe the poster had something on their account restricting access to this type of stocks.

Shawnee Poole

Nelson Bunker Hunt and his brothers William and Lamar were pumping silver in the 1970s and it ended in tears.

daheff

Shawnee Poole wrote: »

Nelson Bunker Hunt and his brothers William and Lamar were pumping silver in the 1970s and it ended in tears.

lets hope history doesnt repeat itself so

Wombatman

Tefral wrote: »

I bought some silver for the craic based on this thread when it was posted. Just checked my Revolut and its gone up 9.16% since i bought it.

What sort of fees are they charging?

Bob24

cronos wrote: »

Degiro have now added $AG (First Majestic Silver Corp). Not sure I'm going to invest anything yet but at least the option is there now.

I has always been available (I have been following the company for over a year).

Maybe something with your account was hiding it.

cronos

Bob24 wrote: »

I has always been available (I have been following the company for over a year).

Maybe something with your account was hiding it.

Possible I guess. Definitely wasn't seeing it on that symbol on Friday.

Mucashinto

New to silver and was happy to put in a bit of cash with bullionvault - this was the only option I could find now that bullionbypost wont deliver with brexit, not sure if I'm adding to the 'paper' problem here, hope I'm not. I like metals anyway and part of me still thinks having such a simple way of backing value provides value/meets a desire on a kind of basic human level that people still want.

Decent enough quick primer to the 'squeeze' logic here I think

https://www.bullionstar.com/blogs/bullionstar/silversqueeze-physical-silver-shortage-vs-paper-silver/

with an interesting take-away imo that they might not keep selling silver at the advertised spot price if they think it doesn't accurately reflect the true price. So this could be another way investing could work maybe - the markets continue to list (and trade) silver at a certain lower price but people begin to wonder why noone will sell them 'actual' silver at anything close to that price and maybe that kicks in something.

Nonoperational

Surely a massive silver price increase is bad news for the many consumer and industrial products that use silver?