PM Daily Market Commentary – 02/23/2021

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  • Wed, Feb 24, 2021 - 09:07am   (Reply to #8)

    #11
    ao

    ao

    Status Platinum Member (Offline)

    Joined: Feb 04 2009

    Posts: 1572

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    JAG, i’m going to stick my neck out here

And I’ll probably get it chopped off. But that’s OK. I write this not to be mean but out of agape. I think you would benefit from some tough love. You’re a very smart guy. There is no doubt of that. And investing can be fun and exciting. But my sense is, you’ve taken it over the top from investing to a gambling addiction. It’s an informed addiction but an addiction nonetheless. You know market timing doesn’t work. That’s been well established and you acknowledge it yourself. I hate seeing you torture yourself like this. Liquidate your risky bets and perhaps turn your money over to a financial advisor for a period of time and just walk away. If you tell me to mind my own business and **** off, I certainly understand and you have every right to do so. But what you are doing is not healthy for you, financially, mentally, or spiritually and I couldn’t stand by and keep my mouth shut any more. Here’s wishing you all the best.

  • Wed, Feb 24, 2021 - 09:23am   (Reply to #9)

    #12

    Jim H

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    Miners

Silver miners I hold.  NOT finanacial advice – just saying what I do:

My biggest and core holding:  First Majestic, ticker AG.  two words:  Keith Neumeyer.  He is one of us.  Not a penny stock, but not a major either.. mid-cap in this group.

I found this recently and really like the analysis… allows you to look at the reserves of each miner relative to price… so you can think about price per ounce in the ground (in market cap dollars) you are paying.  On the basis of this analysis I have purchased CHPGF in two different accounts yesterday and today;

https://docs.google.com/spreadsheets/d/e/2PACX-1vT8LYD7zl4HT_HCG-BjzdVsVeCOVZS7kkJVIvsjLMp1L3BFtdLYWXE_myH2iHsY-9cN9WeOCYN75BGQ/pubhtml

I monitor quite a few twitter feeds, and have now joined the WallStreetSilver reddit group.  I will list some twitter feeds at the end.

My other positions are:  EXK, PAAS, and of course, PSLV.  PSLV added 500K ounces yesterday.  I am starting to add some smaller, more speculative miners – just added some DSVMF this morning.

Good luck to all.  Silver has ripped my face off before… I intend to get my face back this time : )

https://www.reddit.com/r/Wallstreetsilver/

 

 

 

 

  • Wed, Feb 24, 2021 - 10:09am

    #13
    davefairtex

    davefairtex

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    yeah

I have a …. similar portfolio to Jim.  Kind of funny how that works.

I agree with Jim about the potential.  This feels different.

The COMEX shorts are covering now.  They look scared.  This is unusual.

Sprott buying physical using PSLV is a lever we never used to have.  This is a big deal.  And when I say big deal, I really mean a monstrously large deal.   He does the hard part of digging up the bars, and all we have to do is buy PSLV.

The banksters never had opposition like this before.  And the silver market really isn’t very large.

And there are a LOT of shorts right now.  And they are COVERING.

That’s all really positive for a squeeze.

Just my sense.  Not financial advice.  Etc.

  • Wed, Feb 24, 2021 - 11:44am   (Reply to #9)

    #14

    Quercus bicolor

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    PM Daily Market Commentary – 02/23/2021

Sorry Jim and Dave, but based on a tiny bit of research (the spreadsheet Jim linked to, a bit of reading on my own, I’m taking your posts as advice 😉 – small positions, nothing I can’t afford to lose – and I promise I won’t come and hunt you down even if they go to zero.

  • Wed, Feb 24, 2021 - 11:50am

    #15
    wotthecurtains

    wotthecurtains

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    PM Daily Market Commentary – 02/23/2021

Any good reason not to just buy SILJ if I want exposure to junior silver miners?   I don’t think I can keep up with the news flow on juniors on top of everything else in my life right now, but I’d like to capture some beta.

 

 

  • Wed, Feb 24, 2021 - 11:59am

    #16

    thc0655

    Status Platinum Member (Offline)

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    Posts: 2433

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    PM Daily Market Commentary. Great Resetters testing for cyberpandemic

https://www.zerohedge.com/crypto/fed-down

The Federal Reserve’s critical system for interbank payments which serves as the backbone of virtually all money transfers in the US, went down Wednesday afternoon as trillions in payments suddenly ground to a halt.  The outage, similar to two significant disruptions suffered by the Fed in 2019, was widespread across all payment systems maintained by the central bank, including the vital automated clearinghouse system known as FedACH, and the Fedwire Funds interbank transfer service.

“Happy Hunger Games! And may the odds be ever in your favor.”

And may you survive the cyberpandemic when you can’t access any of your currency or investments that are electronic.

  • Wed, Feb 24, 2021 - 12:06pm

    #17
    hail

    hail

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    Dogpile

Doing my part.  Bought PSLV last week and again today.  Not really worried about a profit just want to get in on the dogpile.

  • Wed, Feb 24, 2021 - 12:14pm

    #18

    Quercus bicolor

    Status Gold Member (Offline)

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    Scary Covid variants upate

UK

New cases 7 day moving average down 84% since peak, deaths down by 66%.

Conclusion: A scary, more infectious, more deadly variant would result  in a cases and deaths profile very different from this, so nothing to worry about.

South Africa

 

New cases 7 day moving average down 91.5% since peak, deaths down by 73%.

Conclusion: A scary, more infectious, more deadly variant would result  in a cases and deaths profile very different from this, so nothing to worry about.

California

And of course, Dave reviewed California in post # 1

New cases 7 day moving average down 86% since peak, deaths down by 40%.

Death rate up through Nov 10 1.82%.  new deaths since nov 10 / new cases since nov 10 = 1.2%

Conclusion: A scary, more infectious, more deadly variant would result  in a cases and deaths profile very different from this, so nothing to worry about.

Summary of article: “Pay no attention to the data! (or maybe there’s no such thing as data, just our scary words).  Trust us, this is a scary new variant and it’s coming for you!”

  • Wed, Feb 24, 2021 - 02:10pm

    #19

    JAG

    Status Platinum Member (Offline)

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    Thanks

ao, thanks for reaching out. I appreciate your words.

It is totally gambling, but I’m betting with the “house” (the dealers on the other side of the Hooders). I’m staying in.

I’ll quit bitching though. Thanks to you guys putting up with me.

Good luck on the silver play, guys. I have some long term call options on SLV, PAAS, and SILJ, but just a few. They are the only green in my portfolio and I want to sell them, lol.

Time to rip out some carpet and sheetrock (flood damage)…I need to be destructive after the loses today.

All the best and thanks again.

 

  • Wed, Feb 24, 2021 - 03:34pm

    #20
    Nate

    Nate

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    Posts: 548

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    lots of posts

Lots of interest in Dave’s corner.  I like it when I see 20 or more posts a day in the PM section.  Hope it means we are getting near the end of the games the big boys have been playing.  Jim, really hope you are right – not from a greed standpoint – just want to stick it to the bastards.

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