If we breakout of this - lights out. $35 is coming and then higher.
Ton of macro reasons to buy it - I truly think silver is under valued. Did you ever ask yourself why in the world is Gold and Silver doing so poorly in an environment when it should thrive? Rates are low, ton of money supply...?
WSB is pumping $SLV already. Will they succeed? - I don't know. Silver is a much much bigger market than GME. However...
There are ton of macro guys scratching their heads trying to figure out why are metals not moving. Rumor has it that JPM is keeping silver price low via paper market. WSB wants to squeeze the F out of them.
Bullion dealers are out of physical stuff. How do I know? Go on APMEX website and read in red "Due to unprecedented demand on physical silver products, we are unable to accept any additional orders on a large number of products, until global markets open Sunday evening." Why? They need to see what futs do.
If this plays out and we break out of this pattern then the buying pressure will come from:
1. Technical traders will be all over it.
2. WSB gang will double down which would send it into a self feeding loop.
3. Macro guys will jump (most of them are already in)
4. Peter Schiff will have an orgasm and he will pump it like a maniac
5. EV demand will put more pressure on it.
6. More crypto adoption = more silver demand.
7. Silver is used extensively in the production of solar panels.Biden and his gang is all over renewables.
8. Medicine loves silver. Silver kills germs.
9. We require more and more technology. SIlver is used in printed circuit boards, cell phones, computer chips, keyboard membranes and so on...
10. I can find another 100 reasons why it is a metal that will be more valued than gold. Probably can make the same case for ETH!!!
It is not a crowded trade yet. I got stopped out from my last position but I am becoming increasingly more bullish on it than on any other asset class.
Ton of macro reasons to buy it - I truly think silver is under valued. Did you ever ask yourself why in the world is Gold and Silver doing so poorly in an environment when it should thrive? Rates are low, ton of money supply...?
WSB is pumping $SLV already. Will they succeed? - I don't know. Silver is a much much bigger market than GME. However...
There are ton of macro guys scratching their heads trying to figure out why are metals not moving. Rumor has it that JPM is keeping silver price low via paper market. WSB wants to squeeze the F out of them.
Bullion dealers are out of physical stuff. How do I know? Go on APMEX website and read in red "Due to unprecedented demand on physical silver products, we are unable to accept any additional orders on a large number of products, until global markets open Sunday evening." Why? They need to see what futs do.
If this plays out and we break out of this pattern then the buying pressure will come from:
1. Technical traders will be all over it.
2. WSB gang will double down which would send it into a self feeding loop.
3. Macro guys will jump (most of them are already in)
4. Peter Schiff will have an orgasm and he will pump it like a maniac
5. EV demand will put more pressure on it.
6. More crypto adoption = more silver demand.
7. Silver is used extensively in the production of solar panels.Biden and his gang is all over renewables.
8. Medicine loves silver. Silver kills germs.
9. We require more and more technology. SIlver is used in printed circuit boards, cell phones, computer chips, keyboard membranes and so on...
10. I can find another 100 reasons why it is a metal that will be more valued than gold. Probably can make the same case for ETH!!!
It is not a crowded trade yet. I got stopped out from my last position but I am becoming increasingly more bullish on it than on any other asset class.
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