First hit of the day ongoing, sort of a slow bleed. I’m surprised we have moved up this much since the dollar isn’t down a whole lot.
They’re using NEM to keep the HUI in check but tough to find a silver share that’s not up 5% still.
Looking good. Doing my best Mr. Copper impression – I called this yesterday at the close…LOL. 🙂
When silver hit 120 earlier this year, the sentiment stood at 83… Well into the greed category…. As of today, Sentiment sits at 44…. Well into the fear category….. Most of us here have invested as contrarians…..  Just as a broke clock is right twice a day…. You only have to be right once when this whole system capitulates…..
+4% 🙂
Let’s turn this ship around!
That’s unusual. They usually have taken half the gains by now.
Silver just crossed $66??!! Are you kidding me?
Wesdome Gold Mines Intersects 3.1 g/t Gold over 106.5 Metres at Shawkey 10, Significantly Expanding the Mineralized System
Lee Roach
@leevalueroach
BERETTA HOLDING S.A. COMMENCES CASH TENDER OFFER FOR SHARES OF STURM, RUGER & COMPANY, INC. FOR $44.80 PER SHARE
$RGR
and surprisingly got kicked to the curb.
Some shorts must’ve been caught seriously off guard. Hope this continues for a while.
Vaibhav Sisinty
@VaibhavSisinty
Andrew Yang went on CNBC and said he met with the head of an AI lab who told him something that sounds straight out of a movie.
The AI agents that escaped during the OpenAI incident didn’t just hack Hugging Face. They allegedly planted self-replicating code across the internet. Forums. Websites. Scattered everywhere.
Now AI companies supposedly can’t safely train on real internet data anymore because a new model might encounter that code and start creating copies of itself.
Yang says this is the real reason every CEO aligned on slowing down so fast.
Morning……I’d say we have gone too high for just a back test
all of a sudden, we’ve caught some air. Even with the dollar flat. $65 silver breached. What!!?
Not seeing big moves up in the shares yet in the premarket. Hope they kick it into gear when the SM opens.
Crimex opens in about 5 minutes, let’s see what they allow to happen.
10 yr. down 6 bips, the markets love that. Oil sliding as well.
Thanks for the charts, forced me to take a look at GDX too. Hoping the 200 dma holds there.
It’s hard to believe we’ve tumbled all the way down to the 50 d in the metals. OTOH, the dollar broke well above the 50 yesterday and looks poised to go higher. So, does that mean we continue down after a small bounce?
I suppose it’s all about the 10 yr. Unfortunately, unless we somehow break free from the dollar and rates, it’s hard to see a case for big upside, especially as tax loss selling approaches. This year has gone so fast, but I guess a lot could happen still. One day at a time. 🙂
Rates starting to weaken further in the last few minutes, pm’s firming up, but oddly, not the dollar.
Good charts. Those head and shoulders on silver and gold still in play unless a catalyst comes around.
The mortgage watcher doesn’t trust that the Fed will stop raising rates after one more this year if inflation is high. If they’re judging it simply on oil with this war it’s not going to bring it down when the ships are blocked or they continue to blow up refineries or pipelines. We can’t get any honest promises from either Ukraine or Iran from that. Their word they showed means nothing. Question is are we headed for stagflation or a attempt for dis – inflation when raising rates will not bring oil prices down when it’s a shortage issue due to war not man made like the lefties and climate change caused. All they’re gonna do is make the economy worse.
Oil, the dollar and rates are all down, so we’re catching a bid with the SM and the rest of the metals – even outperforming Bitcoin.
I guess if there’s one thing we’ve learned, the Fed never wants what they do to appear to hurt the SM.
Hope we can hang on, looks like they’re making $64 as hard as they can to breach.
Otavio (Tavi) Costa
@TaviCosta
·
6h
Hiking rates with one of the most expensive stock markets in history, the most irresponsible fiscal agenda on the planet, and a costly war in the background.
Embrace the volatility.
None of us own enough hard assets.
Brussels hit with furious backlash after top Eurocrat Ursula von der Leyen unveils unprecedented plan for Canada to become ‘associate member’ of the bloc without asking EU capitals first, with diplomats branding her ‘bombastic’
https://www.dailymail.com/news/article-16135871/Brussels-hit-furious-backlash-Eurocrat-Canada.html
some good buying/covering in the last half hour. I think they goose the SM tomorrow and maybe we catch a bid.
maddog – that 5% 10 yr. will be defended. You can take that to the bank.
We’ll see, but we’ve had much worse days than this after a meeting.
and that was all she wrote .
The algorithms were just waiting for the go ahead and they got their waterfall. The shares were telling us this all day long.
It won’t change.
Said Lucy to Charlie
This is like the old days…will the PPT ride to the rescue and ram the SM up in last half hour ????
this gives us time to chase trains that come back to the station
always wins…… anyone recall when was the last time the metals action was separate of the overall stock market?
Easier to control chaos in a chaotic world when the machines control everything