There's HUGE buying volume in COMEX silver futures right now—it's bananas!
A good portion of this is likely short-covering. The short squeeze is on!
I think somebody is in trouble...
$SLV $PSLV
Platinum is now thinking about going for the mega breakout.
And Russia, China and Iran are now stacking silver & platinum...
Charts often show what is coming before the narrative comes along. #joinus
$NVDA there's multiple books that have come out on this stock this year including this one that is coming out in December.
Books are the ultimate medium that is late to an investment theme.
I was fully prepared for this week in the metals, expecting them to be "messed with" during the Chinese Golden Week/Mid Autumn Festival. While the cat's away the mice will play. But this? You'd think you'd want your fingerprints to be less obvious. Still, impressive how well silver is holding up. Also happy to see my expectation of a relatively quiet week play out. I didn't expect huge downside, just "bullsh*t" for lack of a better word. The slams are just keeping it contained. Wait for next week and the week after that.
After two big up weeks metals may churn and consolidate this week and allow the 10 week moving average some time to catch up to price. This will be a good week to add to positions.
On the other hand I think uranium has finally bottomed after a 7 month correction. I remember back in January people telling me uranium was different than every other commodity and because of how it was priced in opaque markets it was impossible for price to go down. The next time you become convinced a market can't go down whether it be because of Asian buying, or dark markets, or war or whatever silly reason you've dreamed up, go take a look at this uranium chart again.