SLV - Page 13 - TigerDroppings.com

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Iowa Golfer
Iowa Fan
Heaven
Member since Dec 2013
1370 posts

re: SLV


To answer a couple of questions above. I get e-mails like this all the time. I mostly disregard these, but between the advertisements, and encouragement to purchase rare coins (which I do not do) lies my most basic reason for being long silver.

Industrial demand and demand to invest in physical silver is at all time highs. I eluded to the rumors about Apple's delay in introducing one of it's products. Rumors swirled around, by those a lot smarter than I, that it was Apple's inability to obtain physical silver. To my knowledge Apple has never publicly stated the reason, and never given indication if it, or its' suppliers hedge their silver purchases with futures contracts. I'm betting their suppliers certainly do.

Silver has medical and industrial uses, unlike gold. Scientists do not think an invention will replace silver. Mining and production are down right now for obvious reasons.

I started buying and taking physical possession of silver at $4 per oz. Several people encouraged me to sell all, or some of my silver, at its' all time high. I didn't sell.

In a worst case scenario, I can spend an oz. of silver. Even if it pushed $100-$200 per oz like some are guessing. A oz of gold would likely always be worth more, and consequently it would be difficult to buy groceries with gold.

There is a disconnect between the demand, supply, spot prices, and futures prices.

There is no way if the futures contracts were called for delivery the physical silver could ever be produced.

i shares SLV is an entirely different story. The relationship between i shares and JP Morgan Chase is about as unethical as could be. Large firms need to be able to cover blind puts, and other shorts they have. JP Morgan Chase seems to be able to do this with the silver they hold as custodian for i shares.

Redemption of SLV shares for physical silver are restricted. On occasion you will see extremely large deposits in to SLV, followed by extremely large withdrawls. Some larger deposits are subject to being reported. It has happened often enough that larger institutions, hedge funds etc are depositing cash, and withdrawing physical silver. Do a bit of research to see who can convert SLV shares in to physical silver.

There have been federal investigations in to this. Google will provide this background.

There is a vast amount of research, speculation, anecdotal and empirical evidence on all of this. Where there is smoke one usually finds fire.

Eric Sprott is a good resource. On the other end of the spectrum Jim Kramer hates silver.

I buy for appreciation. Unless silver dips below $4 per oz, I think I win this argument. I do have some purchased as high as $32 for full disclosure.

I also buy as a hedge and an insurance policy. I cannot believe anyone with any common sense isn't uneasy with the US monetary policy. World monetary policy for that matter.

I've mentioned this before. I usually do the exact opposite of most everyone else, and I usually get the exact opposite results. I'm a young 47, and am very happy getting opposite financial results of almost everyone else out there. 10% of people make 90% of the money for a reason.







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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80446 posts

re: SLV


What's your opinion of MVIS?





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Iowa Golfer
Iowa Fan
Heaven
Member since Dec 2013
1370 posts

re: SLV


Interesting recent activity for anyone holding silver:

Bank Participation Rate: Something Happening?
Taken from Ed Steer's Gold and Silver Daily Report:

....."the monthly Bank Participation Report strips out the Comex futures positions of all the banks [both U.S. and foreign] and for that one Tuesday every month we get to see how dominant the U.S. banks really are in all four precious metals."

There were big declines by all banks in the short positions in all four precious metals in the December report. The exception was gold, where the 'Big 4' U.S. banks [read JPMorgan Chase] have been net long the Comex futures market for over six months.

As always, this Bank Participation Report shows the total domination of the precious metal markets by JPMorgan Chase and a couple of other bullion banks as "also rans".

But the other thing that this particular BPR shows is that the bullion banks individually, and also as a group, are getting out of their Comex short positions in all four precious metals just as fast as they can. What do they know that we don't, at least not yet.

LINK
--------------------------------------

From The Street: Saturday, December 7: Today in Gold and Silver

…..JPMorgan Chase has stood for delivery on over 95% of the gold and silver contracts in the first six days of the December delivery month.

LINK
--------------------------------------

From T. Ferguson on TF Metals Report:

JP Morgan is starting to take large delivery of physical gold.
And what do we have so far? Wednesday alone was breathtaking. There were 2,472 deliveries announced. Of the 2,472, the JPM House account stopped (took delivery) of 2,389 or 96.6%. This brings the total for the first five days of the month to:
Total Deliveries: 3,558
Total Stopped by JPM: 3,400 or 95.6%
Total Issued (thus far) by HSBC: 2,216
Total Issued (thus far) by Scotia: 787

LINK

Read more at LINK






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Iowa Golfer
Iowa Fan
Heaven
Member since Dec 2013
1370 posts

re: SLV


quote:

What's your opinion of MVIS?


I don't know anything about it. At first blush, I wouldn't be a buyer.






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Lsut81
USA Fan
Member since Jun 2005
64128 posts

re: SLV


quote:

I bought back in this morning at 18.51.


I think I'm gonna make a decision based on what way it goes this morning... If it holds steady with around .5% movement, I'll buy in around where its at.

SLV has had MAJOR swings consistently. I know since the end of Nov there have been multiple days of 4% swings. I may buy in, ride one of those up, and then sell off.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80446 posts

re: SLV


quote:

Bank Participation Rate: Something Happening?
Taken from Ed Steer's Gold and Silver Daily Report:
Does it mean silver is poised to move up or down?






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80446 posts

re: SLV


quote:

I bought back in this morning at 18.51.



I think I'm gonna make a decision based on what way it goes this morning... If it holds steady with around .5% movement, I'll buy in around where its at.
I sold what I bought yesterday at $18.66.






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LSU0358
LSU Fan
Member since Jan 2005
5126 posts

re: SLV


There are currently more silver shorts than exists physical silver in the world. Having said that, keep in mind when getting long silver who you are betting against. JPM is the biggest silver short there is in the last ~10 years or so.





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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
863 posts

re: SLV


quote:

keep in mind when getting long silver who you are betting against. JPM

This ain't Bill Ackerman you're messing with here.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80446 posts

re: SLV


SLV is up strong this morning...over 2.5%. I need two days in a row like this one.





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LSUtoOmaha
LSU Fan
Nashville
Member since Apr 2004
21094 posts

re: SLV


I am finally back in the green with SLW





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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80446 posts

re: SLV


Another 1.5% move up today so far.

"Please, lord, let SLV get back to $20 just one more time. I promise this time I won't f*ck it up again."






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Iowa Golfer
Iowa Fan
Heaven
Member since Dec 2013
1370 posts

re: SLV


At least 22 by the end of 2014. Keep the faith. Just like being an Iowa fan, watching a painful 8-4 season, and a crappy bowl game. I'm in it for the long haul.





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southernelite
Iowa State Fan
New Orleans
Member since Sep 2009
40813 posts

re: SLV


(no message)


This post was edited on 1/3 at 12:18 pm


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Iowa Golfer
Iowa Fan
Heaven
Member since Dec 2013
1370 posts

re: SLV


e-mail sent from my junk account, until I know what you want.





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LSU0358
LSU Fan
Member since Jan 2005
5126 posts

re: SLV


quote:

"Please, lord, let SLV get back to $20 just one more time. I promise this time I won't f*ck it up again."


Lol. I bought a little GDX this morning.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80446 posts

re: SLV


SLV just can't seem to get over the mid-$19 hump.

It's back down to $19 again this morning.






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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
863 posts

re: SLV


I dumped half @ $19.45 last week. Thought I would be sorry I sold. May well be yet, but right now I am wishing I was 100% out again. So unpredictable.





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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
863 posts

re: SLV


Almost back to where this thread started $19.50.

I bailed on the other half of my position at $19.47. That was a testy way to make a buck. But it was profitable. Is it back to $18.50 again? Or up from here? Good luck.






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Iowa Golfer
Iowa Fan
Heaven
Member since Dec 2013
1370 posts

re: SLV


It's going to be bloody for a while. Deutsche is the latest to weigh in with a lowered target.

I'd look for some recovery in Feb/Mar, predicated on the Feds, and then more blood until after the 3rd quarter.

Long term great buy. Not so sure about day trading it though.






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