Silver short squeeze WE PUMPIN OVER HERE GET ON BOARD

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?

Mucashinto

Nonoperational wrote: »

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

Depends on perspective I suppose. They'll certainly cost more, whether this = "bad" will be a subjective value imo.

Bobeagleburger

The title is surely misleading? Can there actually be a short squeeze on silver?


If anything Hedge funds go long on Silver.

TheBetsy

Well lads did anyone make any moves today?

Rob2D

TheBetsy wrote: »

Well lads did anyone make any moves today?

I bought a couple bars over the weekend for the craic. I'll hold it for the year and if it goes up, great. I'll change it into gold/crypto.
If no change ever appears on the horizon then I sell it back. It's not like the price will go down much.

patsy_mccabe

TheBetsy wrote: »

Well lads did anyone make any moves today?

Well, I got my popcorn.

Thelonious

The banks are taking a break from ****ing the miners of silver.

They are now turning their attention to ****ing the industrial users of silver.

An Ri rua

6 wrote: »

The title is surely misleading? Can there actually be a short squeeze on silver?


If anything Hedge funds go long on Silver.

The title isn't misleading if referring to Reddit WSB.

There could most definitely be a short squeeze on a silver share or two. Eg First Majestic. If the short positions are extreme they'll have a go. And then hedge funds will join them.
But shorting silver itself is an almost impossible task. Citadel are long on silver I believe. It could serve them well for the WSB crowd to get distracted from GMD and AMC etc.
It could be just the butterfly wings to kick off chaos in the markets. But probably a bit pre-emptive yet.

Bobeagleburger

An Ri rua wrote: »

The title isn't misleading if referring to Reddit WSB.

There could most definitely be a short squeeze on a silver share or two. Eg First Majestic. If the short positions are extreme they'll have a go. And then hedge funds will join them.
But shorting silver itself is an almost impossible task. Citadel are long on silver I believe. It could serve them well for the WSB crowd to get distracted from GMD and AMC etc.
It could be just the butterfly wings to kick off chaos in the markets. But probably a bit pre-emptive yet.

Were specific silver mining stocks called out though? People are buying silver, even physical..

Not sure the same people organized this one. Citadel the hedge fund are loving this silver surge, they are making hand over fist on it. Probably covering their GME losses comfortably.

I sold my small (very) holding of silver yesterday for about a 8/9% profit.

Mucashinto

Bought more yesterday. Well, I signed up to bullionstar and sent the money last night but it doesn't seem to have arrived yet so not sure if they'll cancel and I'll have to redo. Doesn't look like it will have gone up in price anyway.

Think I'm just investing in these things out of pure reactionaryism at this stage tbh, not sure I care anymore. Just a futile attempt to 'do something' in these absolute ****show times. You make more money being positive than negative so I should be in investing in drones or something but I really don't care. Whole situation feels like Berlin 1938 but with a war that will never actually start. Flash forward 17 years and everybody's still stuck inside online talking about what they'll do 'when things get back to normal'.

EDIT: Catching up on the GME situation in the other thread and I have no idea what's going on there tbh. Hope the investors really have the over-shorters on the ropes though and they get what they deserve.