SLV - Silver ETF & Silver Futures - SI

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Stockaholic, Mar 31, 2016.

  1. Stockaholic

    Stockaholic Content Manager

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    Silver (SLV) Slides Back Below Its 50-DMA
    Tue, Sep 22, 2020

    The Silver Trust ETF (SLV) is currently sitting on a year-to-date gain of more than 35% even after falling 16.15% since its early August high. Yesterday's session had a significant part to play in those recent declines as SLV had a rough start to the week with a decline of 7.6%. As shown below, since SLV began trading in 2006, there have only been 21 days (0.58% of all trading days) in which SLV has fallen greater than 7% in a single day with yesterday marking the 19th worst day on record. In what has been a volatile year, that was the biggest decline since August 11th's 13.6% drop; one day after its 52-week high. Prior to that, there was a 12.3% decline on March 16th, but before that, you would have to go back to 2013 to find another day with as large of a move.

    [​IMG]

    One other thing that yesterday's drop marked was a fall back below SLV's 50-DMA. SLV has been trading above its 50-DMA every day since May 7th (94 consecutive trading days). That brings to an end the second-longest streak on record that SLV spent above its 50-DMA. The only longer such streak was one that lasted exactly 100 days that came to a close on January 13th, 2011. Back during that streak, SLV had risen 59% compared to the 79.1% rally from May through yesterday.

    [​IMG]
     
  2. StockJock-e

    StockJock-e Brew Master
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    You are going to be hearing about SLV a lot this next week
     
  3. StockJock-e

    StockJock-e Brew Master
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    Biggest move in silver in years!
     
  4. StockJock-e

    StockJock-e Brew Master
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    New 52wk highs, this was the push, now we wait to see if there any follow through tomorrow.
     
  5. StockJock-e

    StockJock-e Brew Master
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    Looks like the initial push is over, selling all the way down to the initial gap.
    Now to see if this uptrend can hold, Ill be buying if it breaks to new highs.
     
  6. B Russ

    B Russ Well-Known Member

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    Watching. I have april and june calls. Today was a bit of a disappointment. Ive had them since wednesday or Thursday last week. Yesterday was good feelz. Today not so much. Lol. Hoping to see you buy a lot!

    had feb calls too, but got shaken out today.
     
    #26 B Russ, Feb 2, 2021
    Last edited: Feb 2, 2021
    anotherdevilsadvocate likes this.
  7. StockJock-e

    StockJock-e Brew Master
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    I cant remember the last time I traded metals.

    I may get some 3x Silver like AGQ (I had to search for the ticker because I cant remember them anymore!) here if this finds support today or tomorrow.
     
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  8. B Russ

    B Russ Well-Known Member

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    @StockJock-e

    im just curious to your thoughts on the relation between paper and bullion silver. Like the ability to manipulate it.

    mine are that bullion would be safest. Lets say a true short call happened. Those holding bullion have the power. Those holding certificates for bullion could just get a “sowwy” letter.

    i tagged you because you are watching it and it seems you have been on or around the trading floors. Obviously, i value your opinion.

    is this just tin foil hat stuff, or a real possibility of happening? My understanding is that there isnt enough silver mined in the world to meet todays commercial demand, or cover a mass bullion call.
     
  9. StockJock-e

    StockJock-e Brew Master
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    Honestly, there was a time years ago where I probably knew a bit more, but I forgot because it was pointless. :D

    All the theories that if you hold physical or take possession certs, then your force this firm to cover from that firm and then some magic genie or something comes along to makes Silver go to $10000 which is the true value. None of it ever happens.

    End of the day, its some trading desk at Goldman Sachs that decides they are positioned and want to make it move.
     
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  10. Rustic1

    Rustic1 Well-Known Member

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    People are buying physical silver like crazy.
    check out this article J.M.BULLION
    Screenshot_20210203-173709_Chrome.jpg
     
  11. StockJock-e

    StockJock-e Brew Master
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    I saw that on CNBC, not sure why the scramble for physical silver, but its helping the price move!
     
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  12. Rustic1

    Rustic1 Well-Known Member

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    Another article that helps explain. Screenshot_20210204-080501_YouTube.jpg
     
  13. StockJock-e

    StockJock-e Brew Master
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    More consolidation in this range, ive got some alerts set for a move above $28

    upload_2021-2-5_8-55-4.png
     
  14. Rustic1

    Rustic1 Well-Known Member

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    Is there a silver shortage or what?
    Can't seem to find a abundant supply with the dealers, the industrials buy in bulk not 1 oz or 100 oz bars. With the EV shift, obviously that will increase demand and I'm sure the pandemic has hampered mining. But if you look at futures it is stuck in the groove. Conspiracy theories ensue. :popcorn:
    Should I ebay my years old stash or wait for the 50s :D
     
  15. StockJock-e

    StockJock-e Brew Master
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    Just a lot of retail buyers all piling on top of this.

    I cant tell you how coordinated it is, but they are trying to get some sort of social media movement going where everybody goes and buys physical.
     
  16. StockJock-e

    StockJock-e Brew Master
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    Come on Silver! make your damn move!
     
  17. StockJock-e

    StockJock-e Brew Master
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    Some silver action this morning
     

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