Discussing the Short Squeeze trend and where it’s going. Plus an update from Gold Bull Resources

January 30, 2021
Full Weekend Show

The markets this week were dominated by small retail traders pushing around hedge fund and large money mangers with big short positions in a couple stocks. Then large money then managed to stop trading in a few select stocks. Things are still up in the air for how this will play out. In this weekend’s show I have an in-depth discussion on what happened and where it will go from here.

Please keep the emails coming. I love helping you all out with Company questions and everything out! My email is

  • Segment 1 and 2 – Jesse Felder kicks off the show with out in-depth discussion on the short squeezes this week. We recap what the retail/Reddit traders are doing and how it caused a hedge fund to go bankrupt. This interview was recorded late in the day on Wednesday, before the halting (not sure what to call it) of a couple key stocks.
  • Segment 3 – I am replaying the interview I had with John Feneck that was posted on Friday. John and I start with a couple silver stocks that started to move up on short squeezes at the end of the week. He then shares a number of industrial metals stocks he likes.
  • Segment 4 – Cherie Leeden, President and CEO of Gold Bull Resources (TSX.V:GBRC – OTC:BLSSF) wraps up the show by updating us on the two news releases this week focused on the Sandman Property in Nevada.

Exclusive Company updates This Week

Jesse Felder
John Feneck
Cherie Leeden – Gold Bull Resources
    Jan 30, 2021 30:59 AM

    Robinhood will let you buy only 1 share of AG or SLV, and just 5 shares of MUX. How can this be legal?

      Jan 30, 2021 30:19 AM

      Yes, it’s a shame that Robinhood is limiting their own customers ability to buy a number of stocks, including some of the mining stocks, such as AG and MUX, because they were fun rides as they blasted off the last few days.

      John Feneck, also mentioned his trade in (MUX) McEwen mining, and it was really was quite a move the last 2 days. As mentioned on the John blog on Friday, I solid a chunk of my MUX position in the Friday pre-markets, and then repurchased that tranche again yesterday afternoon for a much better price, for a nice trading scalp.

      I can’t imaging going to a trading platform and finding out you couldn’t buy shares or had some silly abstract number of shares you could buy, and Robinhood is only shooting themselves in the foot, and there will likely be a mass exodus out of Robinhood an into other trading platforms, as a result. What a wild end to the week!

        Jan 30, 2021 30:24 AM

        Portnoy: Everyday People Got ‘Cheated’ In Order To Protect Hedge Funds

        Jan 29, 2021

        “Barstool Sports founder Dave Portnoy slams Robinhood for restricting GameStop trading.”

          Jan 30, 2021 30:31 AM

          On Friday, Schwab would let you sell most any miner, but on the buy side they had many where the computer wasn’t recognizing the symbol… Sure. I looked at Ex’s list of silver stocks and went down the list and decided to buy into Kootenay fir about 5th time. I went in to the trade area and put in the Kootenay US symbol and it did not recognize it. I closed the trading area and went back in to the Trade area and it took the symbol, and I bought some Kootenay. I tried some other stocks like Blackrock and Summa and it didn’t recognize the symbols. There was a statement that due to unusual volume that there may be some difficulties in executing trades, or words similar. Once it got to be 10 or 11 CST, it seemed everything was normal. I just assumed they (as a market) got control. It did bother me that their actions favored sell side investors during an obvious short squeeze situation.

            Jan 30, 2021 30:26 AM

            David, when Michael Jackson built Never Neverland, I’m sure he didn’t consider he wouldn’t always be around to enjoy it, what is happening in the markets is at “The Very Top’, I have always enjoyed “TOPS”! BOOOOOOOOOOOOM! DT

            Jan 30, 2021 30:05 PM

            David, it sounds like that trading platform gives you a lot of problems from reflecting the true price to getting access to stocks. Why not pick another like Interactive Brokers or TD or Fidelity, etc…. (not Robinhood though 😉 )

            Jan 30, 2021 30:14 PM

            I use Fidelity Active Trader Pro.
            The charting works well for me.

            Jan 30, 2021 30:52 PM

            Trading platforms. I had USAA and they sold out to Schwab. I have TD Ameritrade also but they have sold out to Swab and transitioning to Swab over 18 months. My wife’s retirement accounts were with Fidelity but years ago they tried to force her out of PM mutual funds to treasury mutual funds and we had to move her out of Fidelity. Interactive brokers charge fees on I guess penny stocks or foreign stocks…I can’t remember which. But, yeah there are issues with brokerage firms that are unaddressed regulatory problems that I hope comes to a head with these short squeezes.

            Jan 30, 2021 30:11 PM

            Two day cash account settlement.
            Commission free trading.
            Good charting.
            Not bad.

          Jan 30, 2021 30:52 PM

          The big crash of 1929 happened, not so much because EVERYBODY WAS SELLING, BUT BECAUSE THERE WAS MASSIVE NAKED SHORTING.
          It was not regulated in 1929.
          THE SEC was created in the early thirties PRECISELY TO REGULATE TRADING and stop naked shorting.

          Many of the Hedge funds DID NOT BORROW SHARES TO SELL. i.e. THEY WERE NAKED short selling. THAT IS AN ILLEGAL ACT.
          The SEC failed. FINRA FAILED.


          If I owned a store and sold you merchandise but gave you only EMPTY BOXES, how long do you think it would be before I was jailed for FRAUD ?

            Jan 30, 2021 30:47 PM

            CFS, the torrent of selling on October 24th, 1929 was caused by forced selling. It was the dumping on the market of hundreds of thousands of shares of stock held in the name of traders whose margins were exhausted. It was caused by speculative credit breaking under it’s own weight. As this dumping occurred fear showed up and the herd stampeded to get out of the market. After that the bargain hunters did not show up. DT

            Jan 30, 2021 30:01 PM

            One must remember that in 1929 The whole New York Stock Exchange traded only a few million shares a day, the most traded in a single day was 16 million shares a record that stood until sometime in the early 1950’s. DT

            Jan 31, 2021 31:45 AM

            We are probably not at 1929 yet, probably more at 1919 with the current situation

        Jan 30, 2021 30:35 AM

        Ex, I can see you are having fun in the candy store! The public is really enjoying it’s moment of fame in the land of Reddit gambling-itis. Of course we all know that there is nothing fundamentally wrong with the stock market or with the underlying business or credit structure. When I look out my window, I cannot see a cloud in the sky. All of these speculators have decided it’s time to be buying, the herd just wants a little piece of the big pie. I hope they don’t get caught up in something they don’t understand, after all the country is too rich to be affected by stock market fluctuations! LOL! DT

          Jan 30, 2021 30:58 AM


            Jan 30, 2021 30:01 AM

            The curtain has been pulled back on The Hedge Funds, now the public can see that there are a number of crooked nasty venal men running these corrupt trusts. Just like when lawyers tell they are going to put your money into their “Trust Accounts”. Wait till the public learns the real truth and that is, nobody knows what is really going on because everything is intertwined. Trust fund “D” is invested in Trust fund “C” and “C & D” are invested in “A&B’, and “G” is invested in “D & C”, and so on, and on, and on…………………

            Jan 30, 2021 30:05 AM

            OOPS, I forgot you after lawyers tell ! DT

            Jan 30, 2021 30:25 PM

            Hey DT – Yes, I was having a blast in the markets, and had a number of the stocks that were being driving higher in my trading account portfolio, and with all the volatility in prices in pre-markets, general trading sessions, and afterhours trading, it was a blast to trade and scalp gains with all the whip-sawing prices. Yes my eye lit up Thursday and Friday like a kid in the candy story for sure!


            Jan 30, 2021 30:32 PM

            DT, Yes, it is really a harsh double-standard, that for years there have been organized pump-n-dumps from the Hedge Funds where they banded together to drive a companies shares higher, and then exited at the top when the retail investors piled in leaving them holding the bag. Then they’d turn around and short the markets and start a negative news campaign using their cronies in the main stream financial media, and profit by colluding to smash companies down to bankruptcy.

            What the retail traders did in buying and bidding up the share prices of Gamestock, AMC, Bed Bath and Beyond, Blackberry, Nokia, etc… is no different, and as IrishTony quipped on Thursday’s blog, I’m not going a shed a tear for the whining Billionaires and Hedgies that got stuck on the wrong side of their massively over short positions in these companies. It’s a 2-way street, and this time they lost. What is sinister, is they get bailed out when their clocks get cleaned, but when the tables are turned they wipe out retail investors, they have no remorse, and retail investors don’t get a bail out.

            If nothing else, there is a national discussion going on about investing this week, the long time seat of power hedge funds and institutional funds have had pushing stocks around with their rich cronies in back room discussions, and it has brought in even more retail investors into the markets and opening new trading accounts. This was much more interesting and positive, than what has been trending in news cycles for a long time.

            Jan 30, 2021 30:30 PM

            Aren’t there ‘Bad Guys’ on both sides?

            Jan 30, 2021 30:37 PM

            Swan sighted. Black.
            More than one.

            Jan 30, 2021 30:32 PM

            Speaking of what has been sighted… check out this billboard in times square regarding GameStock. This is really getting wild.


            Times Square right now

            Posted byu/SomeGuyInDeutschland – 10 hours ago – Reddit – WallStreetBets


      Jan 30, 2021 30:53 AM

      >> Check out the volume on the huge price moves higher in MUX the last 2 days.

      That was massive demand suddenly and selectively showed up due to the organized retail mobs, going after companies with vulnerable short positions, and then the buying begot more buying and drew in more momentum traders.

      Now, whether this kind of action will persist into next week, remains to be seen, but it was an absolute blast to watch and trade MUX on Friday, and the chart below is what a short squeeze looks like. Loving it!.

        Jan 30, 2021 30:55 AM

        Look at the green line on the ADX on that MUX chart. Haha! Wild.

          Jan 30, 2021 30:58 AM

          If MUX pulls back some after this move, that will be fine, but it is just nice to see some volume and interest back in the stock once again. They also just put out a well-timed and encouraging operations report, in the midst of the retail mobs bidding up many PM stocks with dual listings, and this new only further brought in more eyeballs and investors.


          (MUX) McEwen Mining: Progress Update
          @nasdaq on 29 Jan 2021

        Jan 30, 2021 30:22 AM

        I am not a trader – I don‘t like it (in both directions)

        It shows how unreal these markets got, with all this shorting, paper market, high frequency trading, algos …

          Jan 30, 2021 30:38 AM

          As an active trader, I loved it, and volatility creates big pricing swings that can be capitalized on. Stagnant sideways to flat markets are less desirable for trading, and it likes trying to surf without any waves. However, when there are double digit swings to the upside and downside, like what happens quite often with the trading in higher torque exploration stocks, or biotech, or cannabis, or cryptos, then it makes the ability to scalp profits (or experience losses) much more rapid fire. The action on Thursday and Friday was the most fun 2 days of the entire year thus far.

          Jan 30, 2021 30:03 AM

          Marty Fleckenstein (long ago): “It’s a Casino!”

          Jan 30, 2021 30:01 AM

          What is the value of hedge funds? Do they create anything useful for our society?

            Jan 30, 2021 30:39 AM

            Get Glass-Steagall reinstated and then
            their hottest money pot will disappear.

      Jan 30, 2021 30:02 AM

      (SILV) Silvercrest was quite peppy as well on Thursday and Friday. Check out that big reversal upwards on high volumes, breaking definitively back above the KAMA, as the Full Stochastics crossed and turned up.

        Jan 30, 2021 30:08 AM

        Of course, as many financial news outlets have covered the last 2-3 days, it was the large short position in (AG) First Majestic, that was a primary target of the Reddit/TikTok/Robinhood retail mobs, and they really spiked the share-price higher starting on Wednesday in afterhours trading.

        The (AG) chart shows the power of how explosive these moves to the upside can be, when real buying in volume shows up in this tiny niche sector of Silver stocks.

          Jan 30, 2021 30:13 AM

          One last observation about all 3 charts posted above is that with MUX, AG, and SILV, they all had breakouts in pricing on Thursday and Friday, but their Friday’s trading were long red candles, showing how large the range in pricing was for the trading day, and that it was faded down bigly from open to close throughout the day. This profit taking is to be expected after such big rallies, but congratulations to all the investors here that had nice green days in the portfolios on Thur & Fri to close out a turbulent week.

            Jan 30, 2021 30:44 AM

            Some of the big moves came in the “after or pre” markets. AG was up 46% before the market opened on Friday. That made me look elsewhere. The time to own AG was probably before Wed. I wasn’t paying that much attention to silver until when the rumors started that the Robinhood crowd was starting to look at the short positions in silver. To me that meant they were going to be looking at physical contracts. I thought that would be great to take on the Commercials. Then I saw the AG talk…

            Jan 30, 2021 30:19 PM

            Yes, agreed David. As they said in the movie Wallstreet…. “Money never sleeps.” It was interesting how much more active the premarkets, and aftermarkets were in many stocks from Wed – Friday of last week, and I executed a few trades in those markets myself, in addition to the regular trading hours.

            The action in First Majestic really started on Wednesday evening in afterhours trading, and I had mentioned that night that there was chatter of a potential coordinated short squeeze from the Reddit/TikTok/Robinhood social messaging investor communities. I had posted the Goldfinger interview with Kai Hoffman on Soar Financial Wednesday night mentioning the short squeeze was on, but nobody reacted to those posts.

            Then on Thursday in the pre-markets multiple Silver stocks all started shooting up in a big way, and by the time the general markets opened on Thursday morning they were off to the races. It makes far more sense that the bands of retail traders went vigilante on the Silver stocks versus the metal, because in those they can really move the needle, where as in the physical markets, not so much…

            I had posted a Kitco interview with Peter Hug on Friday, where he put a reality check on what these coordinated investor blocks could realistically do to the Silver futures to squeeze shorts, and honestly… very little, due to the size of the banks on the other side of those trades. David Kranzler had an interesting piece out recently mentioning that if people want to make a difference in the Silver markets that they need to focus on buying physical, or buying futures contracts on the Comex and then asking for delivery. Peter Hug had mentioned that retail supply of coins were tight and that this may be another area that could see impact if traders flooded it. As interesting as it is to imagine, I believe the narratives around a short squeeze in the Silver price, are less likely than the short squeeze in the mining stocks themselves.

            In reality, most smaller retail investors, all heated up on sticking it to the short sellers, are likely not going to start buying tubes of American Eagles or Canadian Mapleleafs, or asking for delivery on the futures contracts, when they have never bought precious metals before, and that process is not immediate, has a 4 week wait right now on coin delivery, and it doesn’t really fit the profile.

            These social media investor blocks are looking for companies with large short positions to bid up, causing the short squeeze and rapid price appreciation. As a result, it made way more sense to go after the dual listed (US/Canadian) mining shares with larger short positions like First Majestic, Silvercrest, McEwen, Excellon, Endeavour, etc…

            Jan 30, 2021 30:05 PM

            Re: “Peter Hug… put a reality check on what these coordinated investor blocks could realistically do to the Silver futures to squeeze shorts, and honestly… very little, due to the size of the banks on the other side of those trades.”

            That goes with the point I was making on Thursday. The way the media has jumped all over this reddit, robinhood, etc, stuff looks fishy to me. Maybe the next move in the metals and miners is going to be even bigger than I expect and the central planning banksters who really run things need a cover story to keep the sheeple from panicking or worse, studying. It’s game over if the masses ever figure out what’s really going on.

            “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” — Henry Ford

      Jan 30, 2021 30:42 AM

      (AUMN) Golden Minerals was another stock that really had a nice breakout on higher volume, definitively above its KAMA ,and the full stochastics crossed and turned up higher. It was another fun one to trade on Friday, where I sold a tranche in the morning and bought it back for a dime less per share in the afternoon.

      Jan 30, 2021 30:14 PM

      We can’t buy AG or MUX but we can still buy Golden Calf Resources.

      Jan 30, 2021 30:02 PM

      Sentiment Speaks: Is Wall Street Feeling The Payne Of GameStop?

      Jan. 28, 2021 – Avi Gilburt

      “First, this current event seems to have generated a feeling that “shorting is evil.” But, one needs to understand that shorts are not evil per se. Rather, shorts actually provide a certain amount of liquidity to the market to make it operate more smoothly. So, to have a black and white perspective that shorting is evil is simply not appropriate within our financial markets.”

      “Yet, there is something to be said when there is a concerted effort to attempt to affect the price of an instrument. While this simply cannot be done within the larger cap stocks or larger markets, it is certainly well within reason that it can be done within a smaller cap stock if enough assets are brought to bear. Yet, believe it or not, this is a more rare situation than most recognize, and would not have an effect upon the greater market as a whole.”

      “So, the question with which we will all need to grapple as a society is whether this is something which needs to be “regulated,” or if this situation should be self-regulated within the financial markets on their own, based upon the activity of buyers and sellers in the natural course of business?”

      “Personally, I feel that the natural course of business should be allowed to flow freely.”

        Jan 30, 2021 30:08 PM

        Payne sounds off on Wall St over GameStop: All of this whining is making me sick

        Jan 27, 2021

        “Fox Business Host Charles Payne told colleagues, ‘when individuals make money, they’re up in arms.’

    Jan 30, 2021 30:12 AM

    Thanks to Cory & Big Al & the KER contributors for another great week of editorials, and another great weekend show.

    It is always nice to get insights from Jesse Felder, and with regards to John Feneck I really resonate with his investing strategies sector thoughts on Gold, Copper, Palladium/Platinum, and Nickel. John is also a great stock picker and covered a number of interesting companies in this interview and his prior interview, that are worth investors consideration.

    Ever Upward!

      Jan 30, 2021 30:40 PM

      Personally I own Fury Gold (and just bought more Friday), as well as Generation Mining and Group Ten Metals for the Palladium/Platinum/Copper/Nickel exposure, out of the ones John had mentioned above in his discussion.
      In addition, I’ve been taking a look at Palladium One, after David, here on the blog, had discussed it; and now John reviewed it as a solid company. The PGM space has had a nice stealth bull leg higher over the last few months, so there are some interesting things happening. Other companies of note are Platinum Group Metals, Jubilee Platinum, Grid Metals, New Age Metals, and Sylvania Platinum.

    Jan 30, 2021 30:40 AM

    As noted a few times recently in posts, Gold has been channeling sideways between the 55 day EMA and 233 day EMA, and that range has been narrowing as the 55 has been sloping down and the 233 sloping up. This is building up energy for a more powerful move into a break-out or a break-down.

    It would be ideal technically to see Gold stay above that 233 day EMA (currently at $1803.43), and definitely want to see it stay above that November trough low at $1767.20.

    It would be quite bullish to see Gold close above the 55 day EMA (currently at $1868.07), and even more bullish to see that happen on the weekly close. It will interesting to see where the yellow metal will close at the end of next week, as that is only $18 above where Gold closed on Friday @ $1850.30.

    Personally, I’m invested for the bullish thesis and the eventual breakout, and have been actively adding to positions in the markets the last few weeks, and moving money off the sidelines to increase my Gold Silver stocks exposure. However, I’m cognizant of a number of technicians warning of more potential weakness, should Gold break down further challenging the low $1800s and worse the high $1700s, dragging the sector down with it. If that bearish thesis is what plays out then it will be a great opportunity to add to existing positions, because the longer term bull market is still very much in tact.

    The chart I worked up below shows Gold channeling between the 55 day EMAs and 233 day EMA, and as pricing is piping sideways, the energy is building for a large move out of this consolidation. If the last 2 days were any indication, then it could be a powerful move to the upside, but we’ll need to look at how pricing trades next week to if there is follow through buying, or if the strength in PMs on Thursday and Friday was just a small relief rally in a continuing corrective move.

    Jan 30, 2021 30:25 AM

    If you look closely at the chart you will notice what I have been talking about for sometime.
    When we topped at $2089.20 this pattern and one another pattern we’re monitored closely. My other pattern phased out and so I continued with this one that his bang on for me. Here it shared with the ker for the ones who enjoy my work. The current formation has the right shoulder filling out, hence why I kept with the back and forth “ back filling” which has nicely come to fruition.

    Now I can’t state this enough, but I’m of the strong belief that this recent bounce was nothing more then a trap and that not all but many miners will be pulling back for a lower entry. It really gets difficult this late in the game to make predictions but what has left me uneasy, are some monthly gaps of which I don’t like to see. With that in Mind, I believe gold has put the bottom in but they can and have the power to do so more then the metal itself hit the algos for further down pressure on the miners. If so I would expect this right shoulder to come down to possibly $1817-$1937 ish give or take as they push those miners down. Just have powder ready in any case, we can have one more week down or keep back filling and 3-4 weeks down before the final turn up..

    This is my thoughts have a great weekend to all!

    Notice the Macd rising nicely..this is what we want to see.

    Jan 30, 2021 30:30 AM

    Hope for one more AG spike next week and then I sell my position off. I believe the PM markets will quiet down again in February especially if we get the dump of the conventional markets I expect. The Dow closed below its’ 50 day SMA and EMA on Friday which is a warning of more carnage to come. The MACD looks weak and is portending a further fall. That should keep a lid on PM stocks for the near future. I believe the first quarter of this year will be nothing to write home about and the stock market will underperform the PM markets. I also don’t believe we’ll see the “pent up” demand when things open up from the pandemic in the future. That may keep money velocity and the desired inflation under wraps for some time.

      Jan 30, 2021 30:48 AM

      Interesting perspective..Thanks Doc…

        Jan 30, 2021 30:04 AM

        Ann, I watch a lot of charts to define a scenario—-relying on one chart often gets you in trouble. Another of the charts that could be predictive is the dow:gold ratio chart which is starting to turn down. In addition there are a number of stocks showing weakness in their weeky charts. When you put all these together the odds are for no significant breakout to the top by gold but continual meandering for some time with a bent to the downside. February will be a signicant month for gold.

          Jan 30, 2021 30:36 AM

          Thx. I have a simple question if anyone cares to respond and hopefully settle things down between two good friends; and I absolutely have no idea and almost reluctant to ask…but lol..The fight began when one claimed they can’t remember the last time gold and silver closed positive on the last day of any month other this Friday the 29th. The other adamently disagreed and hence a huge battle going on…

      Jan 30, 2021 30:06 AM

      Alot of people will be thinking “sell the spike” Doc.
      That could drive the price into a big downtrend.
      1.5 billion onces sold according to Bix Weir.
      Who knows what restrictions can be put on traders.

      It will be interesting thats for sure.

      Jan 30, 2021 30:09 AM

      I just checked my thoughts yesterday, I figured maybe 190 million onces dumped, turned out to be 1.5 billion onces.

      Geez, go big or go home.

        Jan 30, 2021 30:07 PM

        Wow that is a lot!

      Jan 31, 2021 31:36 AM

      I don‘t see another sell-off like last year. I thought like you in April last year that there will be another even harder sell-off, because of uncertainty. We both were wrong last year.

      Now we are half through the pandemic. If the vaccines work, the economy will recover in 6 months. There will be lots of money printing around the globe to stimulate the economy.

      Gold have to go higher. PM miners are now cheaper than ever (Rick Rule)

    Jan 30, 2021 30:33 AM
      Jan 30, 2021 30:06 AM

      Like Uncle Warren says” The market is a lot like sex, it’s always best at the end.”

    Jan 30, 2021 30:44 AM


    Jan 30, 2021 30:44 AM

    FWIW: MUX has 55m. shares still short. 16.68% of float. Volume on Friday was 1026% of Ave. For comparison, Game Stock was shorted to 140% of it’s float when the flash mob started buying their calls, forcing the short crowd to buy back their shorts.
    Maybe their is some justice out there!
    Thanks Cory for the show. Jesse Felder is one of the best IMO. I took his advice on BBBY and made a few bucks. Didn’t hold on long enough but……….that’s OK as Doc would say. Good luck to all next week.

    Jan 30, 2021 30:50 AM

    Jesse’s opinion on the merits of these flash mobs is a little different than my own. I would ask, how is naked shorting not the same thing? Just sayin’.

      Jan 30, 2021 30:33 AM

      You are more correct than you realize. Naked shorting is not the same thing at all, it is much worse.
      For the record, I am not at all against short selling but doing so naked is immoral and anti free market since it obviously makes the “playing field” uneven. The rule of law has to apply equally to everyone and that is what the masses would fight for if they were enlightened rather than going with the urge to throw the baby out with the bathwater as is usually the case.

        Jan 30, 2021 30:52 AM

        Agreed. I wonder how many investors with stocks held by their broker realize that much of that borrowed stock rented to the short seller is that which is in your account? I’ve got my account set up so they can’t borrow my shares. It seems that I had to give up something though, (it was several years ago)No leverage as I remember.

          Jan 30, 2021 30:22 PM

          Matthew – Do you have a Margin account or a cash account? It would seem that a cash account is safer, but as SilverDollar states, no margin. Do you agree? I have a margin account, but I use margin very sparingly so am thinking of changing to a cash account and have the shares registered in my name versus my broker’s street name.

            Jan 30, 2021 30:39 PM

            Learn from this video…A tribute to those fun naked shorting types worldwide!🔊📞


            Jan 30, 2021 30:26 PM

            Charles, before 2008, I had two cash accounts and one margin and kept over one-third of my shares in certificate form in my possession. Today, I have one margin account and no longer hold any share certificates. In theory, a cash account is safer. It’s funny you bring this up now because my son and I were discussing it yesterday. He’s had a cash account for the last 10+ years but now might switch to a margin account.
            My broker gets permission from accountholders before loaning their shares to short sellers. Those who participate are also compensated.

        Jan 31, 2021 31:55 AM

        Thanks Matthew. It sounds like you are not to worried about it. Crazy world we live in when you have to consider these things.

          Jan 31, 2021 31:34 AM

          You are correct Charles. I have a cash account and don’t plan on changing it. Perhaps one can make a few cents per share loaning to a shortseller. How crazy is that…….akin to betting against yourself IMO. Good luck.

            Jan 31, 2021 31:22 AM

            Thanks SilverDollar. I enjoy your posts and info. Good luck to you as well.

            Jan 31, 2021 31:32 AM

            I haven’t given my broker permission to loan my shares and it’s good that even with a margin account they give customers the choice (and maybe they are required to; I don’t know).

            Charles, no, I am not worried about it.

    Jan 30, 2021 30:03 AM

    I didnt watch mux with its spike up so I cant say how good the trading was but the shares I own did not have much of an increase in liquidity.

    I could have sold a few shares if I hit the timing just right but the amount of shares trading really made it dificult to make any coin.

    ipt for example traded about 10k shares early and trades smaller than that later, thats very little coin to be made.

    Personally Im going to require alot more liquidity.

    Now that there are restrictions on the amount of shares a person can buy/sell it will get worse.
    Will anyone even stay in the markets if that idea spreads?

      Jan 30, 2021 30:24 AM

      Most ‘money’ becomes worth less
      when spending it freely is limited.

      Jan 30, 2021 30:48 PM

      B – I was trading the MUX shares in the pre-markets and general trading session on Friday, and there was plenty of liquidity.

      I got up early to be in the pre-market trading, especially after the bang-up day McEwen had the day before on Thursday (where it was up 32% on that day, and another 7% in after hours trading). On Friday morning in the pre-market session MUX was up over 20% again, which is why I sold a chunk at $1.46 to pull profits, as mentioned that morning on the blog. It has actually gotten up to $1.50. Later in the day I bought that same position of shares back at $1.29, because I still like the potential for McEwen Mining to get rerated much higher than these levels as the bull market has plenty of time to run over the next 2-3 years.

      > As for the liquidity in MUX it was the most we’ve seen in a long time, so I didn’t follow those comments of yours. Average liquidity in MUX was 4-8 Million shares per day, but the action on Thursday & Friday has raised the 10-day average up to 10 Million shares per day. For reference, there were 34.6 Million shares traded on Friday, 3.5 times more than the new higher daily average. That is a crapload of volume and liquidity in MUX.

      >> Check out the volume below the chart below on the huge price moves higher in MUX the last 2 days.

        Jan 30, 2021 30:50 PM

        Now, whether this kind of action will persist into next week, remains to be seen, but it was an absolute blast to watch and trade MUX on Friday, and that chart linked above is exactly what a short squeeze looks like. Loving it!.

        Jan 30, 2021 30:35 PM

        As I said Ex, I didnt follow mux.
        My example was ipt.

        The other shares I owned had low liquidity too, been that way for awhile.

          Jan 30, 2021 30:43 PM

          Oh, I got ya now B. I misread your post to mean the shares you held, to be the one’s you held in MUX and that while you weren’t watching it, there wasn’t much liquidity in.

          Now it makes more sense that you meant the shares you held in other companies didn’t have much liquidity. I’m on the same page now. Haha! 🙂

          Yeah, that only highlights the point that these short sellers targeted the larger dual-listed (US/Canadian) companies, that had larger short positions like MUX or AG. There were bigger moves in other dual listed Silver stocks like SILV, AUMN, EXK, EXN, HL, CDE as well. I have positions in all of those except AG, so that was where most of my attention was, with the smaller Canadian Jrs not being quite as active.

          Ever Upward!

            Jan 30, 2021 30:49 PM

            The good news is that with all the attention on the Silver sector and in particular the Silver miners, there are likely way more generalist investors that just woke up to this tiny little sector.

            There are many of these new retail investors that likely just bought their very first Silver mining stock in the last 2-3 days, and that is a very encouraging thought. Some will be in an out, like a flash in the pan, but a percentage will stay and dig a deep well in the sector. As they say, “new blood is the life blood.” The resource sector needed to attract new eyeballs and short charades of late have helped in that respect. Eventually these new investors will get into Gold miners, Copper miners, and go further down the food chain into the Juniors. Fun times!

            Jan 30, 2021 30:56 PM

            I just reread that and should mention, that across the board the vast majority of Silver miners were waking up, and there were plenty of double digit moves in the explorers and developers. My point was more around where the US retail mobs from Robinhood and Reddit were flocking was into the larger dual-listed companies with large short positions, just to clarify that point.

            Overall, this was a net positive for the whole silver sector, and PM sector, and when the rising metals price, and rising tide lifting all boats in the silver miners is happening in tandem with a good fundamental backdrop and technical set up, then it really is a nice convergence of factors, and why I’ve been so bullish on the Silver miners and acquiring them in my portfolio.


    Jan 30, 2021 30:50 AM

    Benchmark Metals Inc. has released new results from a series of drill holes at the AGB zone that continue to deliver both bulk-tonnage and high-grade mineralization, including 69.45 metres (m) of 1.76 grams per tonne (g/t) gold and 119.46 g/t silver or 3.26 g/t gold equivalent (1) (AuEq), and 0.88 m of 15.55 g/t gold and 3490.00 g/t silver or 59.18 g/t AuEq. Drilling to date has outlined near-surface, gold-silver mineralization over a 650 plus m strike length and to 270 m vertical depth. The entire zone remains open in all directions and shows considerable potential for further expansion. Benchmark’s flagship Lawyers gold-silver project is located in a road-accessible area of the Golden Horseshoe in north-central British Columbia, Canada.

    Jan 30, 2021 30:59 AM

    2021-01-28 11:53 ET – News Release
    Mr. Tim Barry reports

    Jan 30, 2021 30:03 AM

    Bix Weir says 1.5 billion onces of silver was sold to stop the reddit mob.

    I think I mentioned yesterday that might happen.

    Will be interesting to see who comes out on top of this.

      Jan 30, 2021 30:54 AM

      No limit to the ounces of paper that they can short. Actually, there are limits but no one enforces the law! Another scam that goes on and on. jmo

    Jan 30, 2021 30:44 AM

    Jesse Felder: You did not answer Cory’s question about, “this is fair game”

    Jan 30, 2021 30:56 PM

    Rick Rule: Gold Mining Stocks Are The Cheapest I’ve Seen in 45 Years | Gold & Silver

    ILoveProsperity – (01/30/2021) #VIDEO Interview

    “In this video we talk to Rick Rule about his belief that many gold mining stocks are the cheapest he’s seen in 45 years of his career. We talk about the macroeconomic landscape that has aided precious metals, why he believes the next leg up is going to happen soon. He also talks about how investing in gold and silver has never been a better time.”

      Jan 30, 2021 30:28 PM

      Ex is right. This reddit movement is starting to infiltrate all forms of media and with that, people who were previously oblivious to wallstreetbets, reddit, silver etc are now considering a play in this space. So apart from the imminent push towards a possible short squeeze by select people, there might just be some fresh money coming in from the sidelines. This will be just a drop in the ocean at first but over time will help feed a price increase.

        Jan 30, 2021 30:31 PM

        Agreed Ozibatla. If nothing else, new generalist investors are waking up to tiny little resource stocks space, and starting with Silver miners was a good place to look for undervaluation. Once the hype of this short-sell mania is over, some may be intrigued enough to keep diving deeper in the mining stocks, and that will be a net positive for the sector.

          Jan 31, 2021 31:08 PM

          It’s not right to conflate the clueless retail investor with the generalist investor. The former is really not a generalist at all since he buys the stock market exclusively. And the latter is typically the opposite of clueless and therefore doesn’t need “waking up” to anything.

          “We try not to be siloed the way many people are. We don’t have industry analysts, we have generalists who can move quickly from working one day on a drug stock, to another day on the distressed debt of a bank, and another day even potentially on a mortgage security or real estate investment .. it means that our resources will always be deployed in the most interesting areas all the time.” — Seth Klarman

          “I have no prejudice, no bias. I’ll buy companies with unions, I’ll buy companies that aren’t growing, I’ll buy companies that are airlines, that are insurance companies or banks. I’m a little scared of technology companies as they are a little bit beyond my realm. But I have bought a couple of biotech companies I can understand. I’ll look at anything, I have a very big horizon. If you look at 10 companies one’s probably a bargain, it’s mispriced. If you look at 20 there will be 2. If you look at 100 you’ll find 10. So the person who turns over the most rocks wins.” — Peter Lynch

          “Remain flexible and open-minded about types of investments. There are times to buy blue chip stocks, cyclical stocks, corporate bonds, US Treasury instruments, and so on. And there are times to sit on cash, because sometimes cash enables you to take advantage of investment opportunities. The fact is there is no type of investment that is always best. If a particular industry or type of security becomes popular with investors, that popularity will always prove temporary and – when lost – may not return for years.” — Sir John Templeton

          When the generalists move into our miners en masse, it will be because it is time, not because they have woken up.

            Jan 31, 2021 31:10 PM

            There have been tens of thousands of new retail trading accounts opened last year, during the pandemic lock downs, as many lost their jobs or were forced to sit inside all year. The vast majority of them were investing the general stock indexes, and household names like Tesla, Amazon, Facebook, etc… making them generalist investors. That is what I was eluding to. In addition, there are plenty of Gen Ex and Millennial generalist investors working on Wall St or Bay St that have never even considered looking at resource stocks to invest in, and yes, I’m sure this recent short-squeeze mania also putting Silver and Silver stocks in the spotlight, does have many of them waking up to the undervaluation.

            Jan 31, 2021 31:28 PM

            As for when it was time for them to wake up it was really back in late 2015, but if nothing else back in late 2018 to mid 2019. Many of the generalist Billionaire hedge fund magnates, like Paul Tudor Jones did already wake during that time period, because it was time.

            Jan 31, 2021 31:13 PM

            Ex, I knew exactly what you meant which is why my first line above at 1:08 pm: “It’s not right to conflate the clueless retail investor with the generalist investor.”
            — — —

            Investing in the “general” stock market does not make one a generalist investor. Like the guys I quoted earlier, Stanley Druckenmiller is a generalist: “One of the reasons of my success was open mindedness to various asset classes. It gives you the discipline to not play when you shouldn’t be playing. If you look at bonds, currency, equities and commodities, if you are involved in a whole bunch of different asset buckets and open-minded you tend to only play when you should.”

    Jan 30, 2021 30:14 PM

    The Currency Reset Is Here | Gold, Silver, & Mining Stocks – Steve Penny (aka @SilverChartist)

    ILoveProsperity – Jan 29, 2021 #VIDEO interview

    “In this video we talk about what a currency reset could look like, the biggest signs that it has to happen eventually, the macroeconomic trends that are shaping our financial future. We discuss where Gold, Silver & Mining stocks come into play with this. As the currency reset grows and fiat currencies continue to devalue, we will see a steady rise in the price of Gold, silver & Mining stocks. Steve shares exactly how he is investing in gold & silver, how to buys physical bullion, mining stocks and more. ”

    Jan 30, 2021 30:17 PM

    Buck Sexton & Dr. Ron Paul: What the Massive Debt Pile Means for Investors

    Stansberry Research – Jan 28, 2021

    “American Consequences contributor Buck Sexton and former congressman Dr. Ron Paul discuss fiscal policy and the Federal Reserve, gold, and if anything will change with government spending. The two also break down what America’s massive debt pile means for investors.”

    Jan 30, 2021 30:43 PM

    Not sure if this has been posted already haven’t been reading everything as I have lots of catching up to do and some of the diatribes midweek wore me down

      Jan 30, 2021 30:19 PM

      Yeh I saw this comment, amongst many others on the reddit forum. Interesting times directly ahead.

    Jan 30, 2021 30:12 PM

    If nothing else, the reddit/wallstreetbets movement is gaining exposure throughout the world. And not just the financial world.

    Jan 30, 2021 30:07 PM

    If you look closely at the chart you will notice what I have been talking about for sometime.
    When we topped at $2089.20 this pattern and one another pattern we’re monitored closely. My other pattern phased out and so I continued with this one that his bang on for me. Here it shared with the ker for the ones who enjoy my work. The current formation has the right shoulder filling out, hence why I kept with the back and forth “ back filling” which has nicely come to fruition.
    Now I can’t state this enough, but I’m of the strong belief that this recent bounce was nothing more then a trap and that not all but many miners will be pulling back for a lower entry. It really gets difficult this late in the game to make predictions but what has left me uneasy, are some monthly gaps of which I don’t like to see. With that in Mind, I believe gold has put the bottom in but they can and have the power to do so more then the metal itself hit the algos for further down pressure on the miners. If so I would expect this right shoulder to come down to possibly $1817-$1937 ish give or take as they push those miners down. Just have powder ready in any case, we can have one more week down or keep back filling and 3-4 weeks down before the final turn up..
    This is my thoughts have a great weekend to all!
    Notice the Macd rising nicely..this is what we want to see.
    Reply to this comment
    On January 30, 2021 at 6:58 am,
    Glenfidish says:
    The above should read $1817-$1837 lower end range. Could go lower but would really like to see that hold.

    Jan 30, 2021 30:08 PM

    Here’s the chart..

    Jan 30, 2021 30:39 PM

    Rumblings of Change: Populist Undercurrents, Pension Fragility, & Waning Central Bank Confidence

    Real Vision Finance – Jan 29, 2021

    “Former Federal Reserve insider Danielle DiMartino Booth has a unique perspective on the internal machinations for the Fed Board, with the first opportunity to change rates since Trump’s victory. Danielle pulls no punches as she connects the dots between the fallout from the election, the Italian referendum, the next moves in the bond market and the impending pensions crisis facing the United States.”

      Jan 31, 2021 31:51 AM

      As a heads up, this is a flashback video from 2016 that really Vision posted yesterday, to illustrate how many of Danielle and Grant’s predictions, actually have played out over the last 4+ years. The more things change, the more they stay the same…

    Jan 30, 2021 30:40 PM

    Stock Picks for Gold, Silver, Copper Miners & Royalties + 2021 Outlook – Gwen Preston Resource Maven

    Cambridge House International Inc. – Jan 29, 2021 #VIDEO Interview

    0:00​ Intro
    0:45​ Avoiding Noise in a Bull Market
    5:27​ Building Your Team to Follow
    8:43​ Silver Forecast 2021
    10:22​ Silver Pick
    11:43​ Copper Outlook
    15:21​ Battery Tech & Renewable Energy Metals
    17:22​ Royalty Companies & Picks
    22:18​ Gold Stock Picks

      Jan 30, 2021 30:23 PM

      Gwen had some very cogent points around some of the pitfalls with investing in Jr miners around the areas of how the market reacts in anticipation of companies that investors anticipate needing to raise money, and then after the financing, 4-5 months later, that the free-trading warrants can put a cap on or pressure prices in an equity.

      She gives out some very good advice on what to look for, and then a good overview of each commodities macro set up. Good stuff.

        Jan 31, 2021 31:05 AM

        Thanks for posting Gwen Ex!

          Jan 31, 2021 31:48 AM

          Hi Charles. Yes, it was a good interview with Gwen. Hope all is going well!

            Jan 31, 2021 31:52 AM

            Yes. Have been a way for a while as my dad was diagnosed with a terminal illness so I haven’t had much time to post lately. Any thoughts on that royalty play Gwen mentioned. Sounds a bit interesting.

            Jan 31, 2021 31:28 PM

            Charles, I’m very sorry to hear about your dad, and wish your family all the best.

            As for Empress Royalty, it has it’s focus in Latin America scooping up deals on royalties from it’s unique network of banking contacts. The royalty space is getting rather crowded, with too many companies, but they seem to have a way to carve out their own network of NSRs. It just listed in December, so it is too new to have much technical data, or even fundamental data, but it was pushed hard at the Metals Investor Forum (MIF), and looks like an interesting new entrant into this sub-sector.

            Jan 31, 2021 31:07 PM

            Thanks, Ex. I was glad to hear Gwen touting Tri-Star, joining the Horseman, QH, and BM. Maybe I should buy more…

            Jan 31, 2021 31:04 PM

            Hi Bonzo – Yes, agreed. I’ve considered Tristar a few times, but just have so many other Gold Developers and Gold Explorers in my portfolio, that I need a few of them to get taken over or hit some major milestone before adding too many more. I also recently couldn’t resist adding a handful more new positions (like Aurion, Great Bear, Fosterville South, NewCore Gold, etc…)to the 2 dozen I already held, so just riding the horses I’ve bet on for now. My primary exposure to Brazil is through the Gold producer (JAG) (JAGGF) Jaguar Mining.

            Jan 31, 2021 31:31 PM

            Thanks Ex. Yes it is getting crowded in the Royalty space. Was going to take some profits in Metalla and move the money into another royalty, but I agree it might be a bit early for Empress, but I will add it to my watch list.

            Jan 31, 2021 31:50 PM

            Just for clarity, I don’t really have an opinion on the direction of Empress Royalty from here, because if the metals run, it will run… but then again, so will most of the quality mining stocks.

            Yes, the Royalty space is just getting chock full with new entrants over the last few years, and I’m hoping we see some cannibalization of the sector with some acquisitions from the larger royalty players, or some mergers of equals.

            I had Metalla as well, but sold out of it back in early January, to rotate some into the more beat up Ely Gold and other individual mining stocks. I also sold out of VOX when it had the recent pop, but still have 7 other positions in royalty companies: Sandstorm, Maverix, Elemental, Ely, Nomad, Golden Valley, Sailfish.

      Jan 31, 2021 31:39 AM

      Empress Royalty EMPR
      She indicates it was listed in December. She prefers ‘value’ plays vs ‘momentum’ plays.
      Appeals to her due to technical set up, connection aspect (as a result of the team), and supported by the business plan.
      I haven’t researched.

        Jan 31, 2021 31:25 AM

        Thanks Canuckski!

    Jan 30, 2021 30:42 PM

    Silver update Will we finally get a trend

    Smart Money Tracker G.S. – Jan 29, 2021 #TechnicalAnalysis #Chart #Video

    Jan 30, 2021 30:50 PM

    Luke Gromen @LukeGromen · 6hrs ago on Twitter:

    “Called the local coin dealer today. ”

    Him: “Silver spreads are up; 1 oz silver Eagles are $31/oz. We are really busy, lots of people in here we have never seen before, buying silver.”

    Me: “Are they old or young?”

    Him: “They’re like 30 yrs old.”

    This might get interesting.

    > Reddit Preparing To Unleash “World’s Biggest Short Squeeze” In Silver

      Jan 30, 2021 30:56 PM

      It seems far less likely that retail traders will be able to force a short-squeeze in the Silver price, as compared to the individual miners, where they’ve already shown they can move the needle. There are just so many large institutional and banking entities that could step in to cap too dramatic of a rise in Silver, and the comex could raise margin fees (which they did in the last metals cycle), and it is a much deeper market that individual stocks.

      Then again, will all the jawboning about the Reddit users and WallStreetBets targeting the Silver markets, maybe some shorts will just cover to be on the safe side, which would move prices higher. Next week it will be interesting to see just how much of this is media narrative and empty threats, and how much of this represents new buying that pushes the silver price higher.

      If nothing else, investors are going to be watching the Silver sector with keen interest.

        Jan 30, 2021 30:57 PM

        will = with

          Jan 30, 2021 30:01 PM

          It’s also a 2-way street, where it would not be surprising to see a few larger banks, institutional players, and hedge funds (with deep pockets) get together in the overnight and pre-market trading on Monday to try and push the silver pricing down to trigger sell-stops.

          This may turn into quite the tug-o-war…. It would be more fun to see the little guys win, and for Silver to keep running like it was at the end of last week. At least things are getting exciting again in the silver space.

      Jan 31, 2021 31:56 AM

      Reddit Raiders Ride Silver – Ep 651

      Peter Schiff – Jan 29, 2021

      – All four major market indexes end the week down.
      – So goes January, so goes the year … so buckle up!
      – Hedge funds continue to take it in the shorts.
      – First Majestic Silver gets targeted.
      – Robinhood limits stock trading and puts halt on instant crypto buying.
      – The establishment does not want you to buy physical silver.
      – The establishment loves Bitcoin.
      – Elon Musk plays with his Twitter followers like puppets.

        Jan 31, 2021 31:05 AM

        Silver Short Squeeze: “This Could Be That Trigger”

        Soar Financial – Jan 30, 2021

        Co-Hosted by Trevor Hall of Mining Stock Daily with Special Guest: Phillips Baker Jr. (CEO of Hecla Mining), Chris Marcus ( @Arcadia Economics​ ) & David Morgan (The Morgan Report)

      Jan 31, 2021 31:47 AM

      So here is another Reddit post going around about their plans to buy silver next week. Again, if nothing else there are many new investors waking up to stacking physical Silver, and some are getting into the Silver equities. Nice to have new money flows coming into this tiny sector.


      Buy Physical NOT $SLV!

      Posted byu/Schradian – 5 hours ago – Reddit

      “SLV is heavily manipulated and the ‘ounces’ of silver they claim to have to back their investors is not confirmed. The custodian of this Trust is JPMorgan, who in September of last year was literally fined $920 Million for ‘spoofing’ precious metals futures markets and US treasuries. Don’t get in financial bed with crooks in charge of your money.”

      “*To consider, not financial advice: Step 1: We buy out the physical (their lifeline) Step 2: We buy call options/long stocks on promising miners i.e. $AG, $FSM, etc. ($PSLV may be worthy too, they’re 3rd party audited) Step 3: The market is now cornered. They can’t bullshit us and say they’re buying physical to back the paper numbers being reported. Step 4: We meme our way through the squeeze (HOLD) Step 5: There’s no flash crash following our efforts, because silver truly deserves a much higher valuation.”

    Jan 30, 2021 30:13 PM

    Silver to $500….if you want it.

      Jan 31, 2021 31:59 AM

      It would be absolutely thrilling just to see Silver get pushed above $50, but it would still be great just to take out the recent peak at $29+ for starters. At those prices, the Silver producers would be making some serious cheddar.

        Jan 31, 2021 31:41 AM

        If you held physical, would you sell if it hit $50, and would you get out of your stock positions if we hit $50?

          Jan 31, 2021 31:37 PM

          No, I wouldn’t Canuckski, because I believe Silver is going to finally break above the 1980s’ high and 2011 high of $49 this time and head higher. 3 times a charm! 🙂

          I would be cautious approaching it for the first time, as things may pull back from that level initially. I may reduce down just a few of my larger more liquid positions at first crack, but overall hold most positions until Silver breaks on through to the other side.

          Again for now I’d rather see Silver have a more orderly rise into the $30’s, and then the $40’s, which would allow the miners time to digest any moves to the upside and for those massive increases in revenues for producers, or stunning economics from the developers to get properly reflected in the shares.

            Jan 31, 2021 31:15 PM

            I will sell 10% of my silver @ $200, another 10% after ea $100 rise. Unless hyperinflation sets in.

            Jan 31, 2021 31:24 PM

            I can’t wait for NULGF to find a 60 million oz gold deposit and shoot up to $10 a share, and then after the hedge funds short it to see the Robinhood traders start buying in waves and take it up to 50 in a squeeze. That is Bonzo’s dream.

          Jan 31, 2021 31:22 PM

          OK, so the plan is that, regardless of silver punching upward to let’s say $50, we are holding everything (except for possibly a small amount).
          Good to know, because in the thick of things, we could start getting crazy ideas.

            Jan 31, 2021 31:22 PM

            Canuckski – My thoughts are that Silver should have enough momentum to take out the all time highs in the bull market cycle. Whether that is in 2021 or 2022, I see it a date with destiny. However, I’m an active trader and will be rebalancing my portfolio along the way buying the dips and selling the rips, but always with a core position in my portfolio holdings, with regards to the Silver miners, until I see that $49 level eclipsed definitively. After that, nobody knows how high it may go, but I don’t see a compelling reason to sell everything until we get up over that threshold and then some. At that point I’d look at Fibonacci extensions of the move from the base of whatever move takes it to over $50 (and then after the proceeding leg that corrects downwards), I’d hold for one more leg higher (a kind of A/B/C wave pattern), and then I’ll likely lighten up the load dramatically and rotate more over to base metals or energy or real estate.

    Jan 31, 2021 31:24 AM

    Yeh one step at a time. Lets just get into the 30s first.

    Jan 31, 2021 31:01 AM

    So with all the interest in Silver and Wall Bets, I came across one of my posts from the 4th of July of 2020 and will repost. I will admit that I didn’t see the social media connection at the time, I will say that the underlying animosity has been there all the time.
    July 4th 2020
    The interview with Mr Felder was very informative as well. His comment about Congress being forced to address issues with the FED could be a whole new can of worms.
    When Silver made it’s historic run in 2011-2012, it would have gone a hell of a lot higher if the CFTC didn’t intervene and change the rules.
    If you go back to 2008 and re examine the financial crisis, you will see the liquidity crisis was pre- empted by Bear Stearns Silver Short position that should have sent Silver prices meteoric.But of course the CFTC was involved again.
    There is a lot of built up torque in the price of Silver, once Silver gets going, with out the intervention of the CFTC, I believe we could be witness’s to a once in a life time event.
    I am not so naive to think that Wall Street Bets can take on JPM, but I will say that when you think you seen it all, you sometimes come to the realization that we haven’t seen nothing yet.

      Jan 31, 2021 31:29 AM

      Great post JohnK. Very well stated.

        Jan 31, 2021 31:32 AM

        If we see the margin fees get raised again, (like what they did back in the 2011 bull move), then we’ll know the Silver surge is working and they are getting concerned.

          Jan 31, 2021 31:52 AM

          Remember the days of the Hunt Bros.? Probably not but I do. They changed the rules and allowed only liquidation sales, no buys. That sealed the fate of the first $50 silver price.

            Jan 31, 2021 31:33 PM

            I was not trading Silver back during the Hunt Bros first attempt to corner the market and force a short squeeze, but have studied that phenomenon. Yes, to change things to only liquidation with no buys, is a guarantee that prices will get smashed, and is exactly what Robinhood just did the end of last week with regards to GameStop, AMC Blackberry, Bed Bath and Beyond, etc…. (which of course ended up in the share prices which had been pushed up to crater, and the let the shorts escape their trades).

            Jan 31, 2021 31:46 PM

            I do remember during the 2010 and 2011 rises in the PMs that the Comex kept raising the margin fees on contracts higher and higher, and eventually this coincided with a slow down in the surge higher, and a topping in the PM sector. So if Silver really started to take off, and the shorts took it in the shorts, then I’m sure we’d see the same kinds of controls implemented to try and cool down the market. It is fine if things crash and fall out of bed, but not so fine if things go up too quickly when the big boys are short.

            Jan 31, 2021 31:52 PM

            As Bonzo noted up towards the top of this blog, there are a number of trading platforms that have already placed arbitrary limits on the number shares their users can buy, with the worst platform being Robinhood. They’ve already set limits of only owning 1-5 shares in many of the WallStreet Bets short-sell targets, including First Majestic (AG) and McEwen Mining (MUX), as well as the (SLV) iShares Silver Trust.

            >> Robinhood: Changes due to ongoing market volatility

            > Are there limits to increasing my existing positions?

            >> “Yes. The table below shows the maximum number of shares and options contracts to which you can increase your positions.”

            Symbol Shares Options contracts
            AAL 1 10
            ACB 1 Standard limits apply
            AG 1 Standard limits apply
            AMC 1 10
            AMD 1 Standard limits apply
            BB 1 10
            BBBY 1 10
            BYDDY 1 N/A
            BYND 1 Standard limits apply
            CCIV 1 Standard limits apply
            CLOV 1 Standard limits apply
            CRIS 1 Standard limits apply
            CTRM 5 N/A
            EXPR 5 10
            EZGO 5 N/A
            GM 1 Standard limits apply
            GME 1 5
            GTE 5 Standard limits apply
            HIMS 1 Standard limits apply
            INO 1 Standard limits apply
            IPOE 1 Standard limits apply
            IPOF 1 Standard limits apply
            JAGX 5 Standard limits apply
            KOSS 1 N/A
            LLIT 5 N/A
            MRNA 1 Standard limits apply
            MUX 5 Standard limits apply
            NAKD 5 N/A
            NCTY 1 Standard limits apply
            NOK 5 10
            NVAX 1 Standard limits apply
            OPEN 1 Standard limits apply
            RKT 1 Standard limits apply
            RLX 1 Standard limits apply
            RYCEY 5 Standard limits apply
            SBUX 1 Standard limits apply
            SHLS 1 N/A
            SIEB 1 Standard limits apply
            SLV 1 Standard limits apply
            SNDL 5 10
            SOXL 1 Standard limits apply
            SRNE 1 Standard limits apply
            STPK 1 Standard limits apply
            TGC 5 N/A
            TIRX 1 N/A
            TR 1 10
            TRVG 5 10
            TRXC 5 Standard limits apply
            WKHS 1 Standard limits apply
            XM 1 Standard limits apply
            ZOM 5 N/A

            Jan 31, 2021 31:57 PM

            Oops. Forgot the link regarding those Robinhood limits:


            What in the world are investors of (AG) First Majestic going to do with buying just 1 share?

            Or being limited to buying 5 shares of (MUX) McEwen?

            Or being limited to buying just 1 share of (SLV) iShares Silver Trust ETF?

            What a terrible intervention, and there is likely going to be a mass exodus out of Robinhood and into other trading platforms as a result of this kind of nonsense.

            Jan 31, 2021 31:01 PM

            Well, after I refreshed that link, Robinhood has apparently just updated that list of stocks (likely after receiving plenty of pushback), and now the list of stocks they are limiting buying in has been greatly reduced. Still, they shouldn’t be telling investors how many shares they can buy, or limiting it to 1 – 5 shares in the first place.

            >> Here’s their revised list as of Sunday afternoon (but apparently it keeps changing):

            Symbol Shares Options contracts
            GME 1 5
            KOSS 2 N/A
            AMC 10 10
            EXPR 20 20
            NAKD 600 N/A
            GNUS 600 600
            BB 700 700
            NOK 2000 1000

            Same question – what are investors going to do with just 1 share of GameStop, or 2 shares of Koss (which was also nearly a 10 bagger at one point last week) or 10 shares of AMC?

            Jan 31, 2021 31:16 PM

            Well, at least traders can buy as many shares as they want in (AG) (MUX) and (SLV) again.

            Jan 31, 2021 31:22 PM

            Maybe the dingbats in charge of Robinhood finally took notice of editorial pieces like this one linked below, and all the negative news coverage on their decision to arbitrarily intervene in what their supposed customers could buy?


            Robinhood’s 50-stock limit list (with SPACs) makes mass exodus likelier:

            Alpha Tactics – Jan. 30, 2021 – Seeking Alpha

            “It’s like a bizarro Nifty Fifty.”

            “Robinhood (RBNHD) currently has an expanded list of 50 equities where buying shares and options contracts is limited (see full list below with recent performance). On the list, 35 are limited to one whole share (no fractional trading in these stocks) and 15 are limited to five.”

            “And the limit isn’t per order or per day. If you already hold 1 share or contract of any of those 35, you can’t add any more, effectively taking them out of the trading pool for a huge number of Robinhood users.”


            Jan 31, 2021 31:28 PM

            This is getting so silly…

            Wealthsimple Adds ‘Risky’ Label To Certain Stocks

            By: Anita Balakrishnan, The Canadian Press January 29, 2021

            “The resulting volatility caused Canadian investing app Wealthsimple to add a ‘risky’ label to GameStop, BlackBerry and other stocks, advising traders that they should expect high volatility.”


            Jan 31, 2021 31:35 PM

            This was a really great series of tweets on how things work when investors “buy shares” and then the brokerage shuffles money over to the 3rd party DTCC to actually match and clear the stock transactions, and where there can still be risks to the actual trading platforms based on timing and volatility in pricing. Worth the quick review:


            Compound248 @compound248 on Twitter 2:00 PM · Jan 29, 2021

            “Dear Media,”

            “What’s happening with RobinHood?”

            “A quick primer. This is a “plumbing” issue. It is esoteric, even for those on Wall Street.”

            “A very long thread on how the toilet is clogged. Read on…”


      Jan 31, 2021 31:41 PM

      Silver: Short Sellers, Your Time Has Come To Pay The Piper!

      Jan. 31, 2021 – Equity Management Academy

      “Gamestop has changed the benchmark for volatility. The big hedgers and short sellers have to take into account what has happened. Silver is now in one of the biggest short-squeezes ever seen. Silver is the poor man’s gold. Silver hasn’t even broken the high in the 1970s, which was around $50, or even the high in 2011. Silver production compared to gold is 8 to 1. The current gold and silver ratio is at about 68. It is coming down to what could be 15 to 1, which would explode the price of silver… Short hedgers are now under warning that they can be wiped out by private investors banding together, as they did with Gamestop. ”

      “In silver, the commercials and Central Banks are at major risk. According to the COT reports, they have about $35 billion in short positions. As silver rises, the short squeeze pressure on them increases massively.”

        Jan 31, 2021 31:45 PM

        What do the Redditors hope to do with Silver?

        Bill Cara – January 30, 2021 3:27 pm

        “Firstly and most importantly, Silver futures are not Silver miner equities. The major bullion houses and other financial institutions have a virtually unlimited amount of money and trading expertise to defend their short positions. And, if they don’t, the Fed does have an unlimited amount of money because they create it out of nothing. So, that is one fight the Redditors will never win.”

        “So, if Redditors want to win, they need to pick their spots by buying undervalued companies to attract short-seller interest to buy into. If the Redditors had sufficient capital to sustain their buying, they might even put a few of the low-quality short-selling firms out of business.”

        “Redditors need to be reading the chatroom nonsense and following short-sellers like Hindenburg Research for instance. These people continue to smear the principals of New Pacific (NUPMF)(NUAG.TO) and Silvercorp (SVM)(SVM.TO) and they are likely still short. They could be squeezed because both companies have excellent properties and are well managed. Serious investors know the value.”

          Jan 31, 2021 31:49 PM

          Bill Cara nailed it there with those comments in response to the move by Redditors to try and create a Silver squeeze in the metals prices by trading dubious instruments like the SLV. (PSLV, actually backed by the Silver it claims it has would be a better choice, but still misses the point, that trying to force a short squeeze in the primary Silver prices is much more difficult than they realize).

          In contrast, if these merry bands of concentrated retail investor blocks instead focused those efforts on plowing into the individual miners, where they’ve already shown they can move the needle, then that could keep working.

    Jan 31, 2021 31:38 AM

    K. Caught up and had a chance to listen to things….appreciate the shows Cory. Loved John Feneck. A guest who gets specific about stocks he likes and gives solid reasons why unlike most of the guests….. to this day I’ve heard lots about cannabis and how great your guests have been doing investing in the field but not one stock recommendation by any of them. John has put his money where his mouth is. We will all know how he is doing unlike these other guests who claim to be doing great but have given us no track record to judge their performance on…..unless of course we trust their claims of greatness

    Jan 31, 2021 31:53 AM

    I trade SLV for my son. This is BS. I join the Legion (WB).

    Jan 31, 2021 31:57 AM

    Traders look for moment defined by volume. I do not have a margin account, I would suspect that the rules relating to margin accounts are more restrictive in Canada than south of the border. It’s nice to be able to trade in and out of stocks using margin money but the real problem here is trying to figure out when an unprecedented number of margin calls must be on their way to insecurely margined traders. All this see-sawing back and forth is causing the destruction of capital. With the age of instant communication it will only take a few nano seconds for the word to get out and instantly the herd could turn and massive selling could begin. That will Pop the circuit breakers but it will also give traders a chance to think about there next move when the markets re-open. The markets are driven by psychology an impossible situation to predict as instantly as one can turn on their smart phone. DT

      Jan 31, 2021 31:33 AM

      Thanks DT. Good thoughts about the use of margin and the risks inherent in doing so.

      Jan 31, 2021 31:49 PM

      Has everyone bought at lease some silver I did my part

    Jan 31, 2021 31:48 AM

    Just looked at Ebay. Silver Eagles priced from $40-60.

    Jan 31, 2021 31:36 PM

    Even if we don’t get a squeeze next week the current environment where the small investors have flexed their muscles has to send a shiver up the backs of the dishonest wallstreet big boys. For awhile they may remove themselves from a lot of shorts and with redemptions the hedge funds might have to sell longs to increase their liquidity. This may help facilitate the move down in the conventional markets next week.

      Jan 31, 2021 31:41 PM

      Agreed Doc. Shorters are likely re-evaluating their current short strategy in a big way.
      As mentioned above, with this much chatter about Silver, at least generalist investors are looking at the precious metals space, and new money is coming into the sector. It’s likely that many investors bought their very first silver mining stock, or went to a store and got their first Silver coin at the end of last week, and that is an encouraging thought.

      Jan 31, 2021 31:00 PM

      It might be the nudge precious metals need to ‘uncouple’ from the conventional markets. Presently when its ‘risk on’ precious metals are just another sector going up, same as they go down with the others on ‘risk off’ days.

      It was only two days of divergence and is seen today as part of the wallstreetbets boys fun and games. But if it takes on a life of it’s own and was the first two days of the uncoupling we have been waiting for then…we’re off to the races!

    Jan 31, 2021 31:44 PM

    Am I sitting in a tin can? Gold bugs unite? Where’s everybody been???

    Jan 31, 2021 31:26 PM

    Looking for a little advice……..I dont own any silver miners currently but I do own a large amount of Silver eagles.Would dealers even buy physical if the price exploded higher or would they say there waiting for the price to fall back before buying.

      Jan 31, 2021 31:30 PM

      Most dealers would still buy the coins back based on wherever they were trading on the spot physical market.

      Jan 31, 2021 31:59 PM

      Poko, most dealers are interested in capturing bid/ask spreads, not speculating on price so they hedge away price risk with each deal. They will absolutely buy from you if the price exploded.

    Jan 31, 2021 31:32 PM

    In all likelihood they would buy by hedging their risk—you might not get full spot price.

      Jan 31, 2021 31:51 PM

      Hi Doc. FYI – I had emailed you back last week.

    Jan 31, 2021 31:39 PM

    Thx Excelsior and Doc for the comments.
    Doc,Im from Michigan….. hope that 2 week layoff for the 13-1 wolverines won’t spoil their momentum as we move into February!
    Go Blue

      Jan 31, 2021 31:42 PM

      OSU 79, MSU 62. Played this afternoon in Clumbs, Ahya, as the locals pronounce it.

    Jan 31, 2021 31:35 PM

    Silver industry responds to WallStreetBets silverqueeze: David Morgan, Alasdair Macleod, and more!

    Arcadia Economics – Live streamed 2 hours ago #VIDEO Zoom call

    “Now that the WallStreetBets group has turned its sights to silver, bullion dealers are getting sold out as the market awaits the Sunday night open.”

    “But to find out what some of the leaders of the silver industry like David Morgan, Alasdair Macleod, Andy Schectman, Ronan Manly, and several silver mining CEOs are looking at, join us on this special broadcast where you will get to hear directly from today’s leaders of the silver industry!”

      Jan 31, 2021 31:40 PM

      Here are one of the new editorials, as of about an hour ago that popped up on Reddit:

      If nothing else, I do like Silver and Silver stocks being in the spotlight with the larger investing universe due to all of this recent financial media coverage. It is unlikely to achieve the results they are hoping for in causing a massive Silver short squeeze to triple digit Silver any time soon, but I like the spirit of it, and it sure beats the Silver sector being ignored with indifference. Maybe a few of the Silver stocks will continue to pop like we saw at the end of last week.


      R/TheERAofGold group on Reddit – Posted byu/Crevative 40 minutes ago


      Jan 31, 2021 31:25 PM

      Silver Short Squeeze Coming From Reddit GAMESTOP Traders – David Morgan

      ILoveProsperity – Jan 31, 2021 #VIDEO interview

      “In this video I speak with David Morgan. David is one of the world’s experts on investing in silver & he discusses the Reddit Wall Street Bets short squeeze on Silver. The Game Stop short squeeze exposed many to the precious metals market manipulation & the traders now seems to have their focus on the Silver market. So David breaks it all down today about investing in Silver.”

      Jan 31, 2021 31:37 PM

      Steve Penny @SilverChartist is doing a great job with his both fundamental macro analysis, and his technical analysis in these weekly market updates. In addition, he also has teamed up with fundamental analyst Jeff Clark, and technical analysts Patrick Karim and Kevin Wadsworth @NorthStar who are both fantastic technicians in the resource space as well. Their info is also covered in this weekend report.

      Silver Chartist shares a number of company charts at the end for both Silver and Uranium miners that are quite compelling and he was spot on about how things have taken off in the markets over the last year or so, and has been very accurate as of late. He covers chart setups in First Majestic, Wheaton Precious Metals, Alexco, Silvercrest, Reyna Silver, Sandstorm Gold, Metalla Royalties, Nova Royalties, and Metallic Minerals. For Uranium miners he covered chart setups in Cameco, Energy Fuels, UEC, NexGen, and more…

      Really good coverage of multiple areas in the Silver, Gold, and Uranium markets.

    Jan 31, 2021 31:04 PM

    The market just opened and silver is up $1.81 or 6.71%

      Jan 31, 2021 31:10 PM

      Kitco doesn’t have any silver for sale! LOL! DT

      Jan 31, 2021 31:10 PM

      Boom!! Silver Futures trading at $28.67 – You gotta love it!!

        Jan 31, 2021 31:12 PM

        Well, I hope everyone took advantage of the January sell off to fortify their Silver mining positions, as Monday may get quite frisky… 🙂

          Jan 31, 2021 31:17 PM

          I like frisky girls and frothy silver. DT

            Jan 31, 2021 31:37 PM

            Good one DT! 🤣

    Jan 31, 2021 31:28 PM

    I have about 15 hours to go to start trading.
    Anything could happen yet.

    Jan 31, 2021 31:31 PM

    Dow off 300 and Comp off 175 at the moment.

    Jan 31, 2021 31:36 PM

    Spot silver $29.06 on Kitco

    Jan 31, 2021 31:03 PM

    BackBox272 Boundary tagged tonight.

    Jan 31, 2021 31:40 PM

    gold has a gap that will probly need to be filled.

      Jan 31, 2021 31:22 PM

      At what level b?

    Jan 31, 2021 31:44 PM

    Silver buyers are making a run on silver. The banks like JPM are doing massive paper shorts. This is going to be real Real Fun! If everyone jumps on the train, the bullion banks will crash…!
    Jump on that train…!!

    Jan 31, 2021 31:47 PM

    it jumped from about 1847, its come down a bit so the gap is only about $3 now.

    Jan 31, 2021 31:26 PM

    Thanks b. I thought you were talking about a gap lower down in the chart.

    Jan 31, 2021 31:29 PM
    Jan 31, 2021 31:44 PM

    The recent Silver peak high at $29.92 can be seen on this chart, and there is a very high potential for testing and breaking through this level in Monday’s trading, which would confirm we are in the next impulse leg to higher highs. Very exciting!

      Jan 31, 2021 31:48 PM

      Silver Futures are currently trading at $29.66 (just $.26 away from the recent peak).

      The real question will be whether Silver gets smashed down by the big boy bankers in the premarket hours, how it opens up, and most importantly where it closes on Monday afternoon. Regardless, it looks like Monday is going to be a riveting day.

        Feb 01, 2021 01:00 AM

        As I mentioned on Friday…

        >> On January 29, 2021 at 8:09 pm,
        Excelsior says:

        “Yes, I’m fine either way, as longer term Silver is moving much higher than where it is priced today at $27+, and even at current prices the Silver miners are doing great. If Silver takes out the $29+ recent high and treks into the low to mid $30s, the silver miners are going to surge.”

        “It would be better to see a more orderly climb to that level where investors can digest the moves higher, and revalue the miners accordingly, than just a short lived rocket ride from squeezing the shorts (but that would still be a fun ride higher regardless). 🙂”


        On January 29, 2021 at 6:49 pm,
        Excelsior says:

        “Again, Silver in the mid $30s would spike most of the mining shares in a big way, and the Silver Producers would be printing money at those levels. Also if Silver got up to $32 or $35, then all the Silver Developers would have projects whose economics (IRR, NPV, shorter payback period) would be spiking up on percentage terms.”

        “As mentioned last year, I believe 2021 is the year where Silver in the mid $30s is quite possible, and maybe even the low $40s. I’m all for bringing on the silver squeeze, but take all these shorter term gyrations with a grain of salt.”

        “Regardless, I expect to see continued outperformance in the Silver miners. The last 2 days have been great in so many quality stocks. More of that please…”

    Feb 01, 2021 01:14 AM

    March silver hit 30.31, a multi year high. Like I said on Friday…

    On January 29, 2021 at 8:50 am,
    Matthew says:

    A very powerful and long advance is starting in the monetary metals and their miners.

      Feb 01, 2021 01:25 AM

      Yes, As I’ve said…I suspected things are going to start getting interesting.
      Best of luck to my Ker family!

    Feb 01, 2021 01:20 AM

    Yeh I did suggest that silver could touch $30 either today or tomorrow on the back of this short squeeze. I must admit I didnt anticipate such a gain so quickly today. I thought it was more likely to happen tomorrow. This is impressive. Nearly $3 to the good in a single day! Wow!

      Feb 01, 2021 01:31 AM

      Investors should think about what a few dollars more per ounce does for the Silver Producers operational margins/revenues/cash flow, or what a few dollars higher Silver does to the economics of junior #Developers projects.

      Let’s hope we see the miners digest these moves in an epic fashion, as the metals pricing is already on the march.

      Feb 01, 2021 01:34 AM

      In my opinion, this is no “flash in the pan” but rather the start of something much bigger. I have no idea what the reddit impact actually is but I do know that silver and been wildly bullish even versus gold since the March crash. The same goes for the silver miners as they diverged from the gold miners in a very bullish way following the summer highs. I don’t know of another multi-month correction in which the silver miners performed so well versus the gold miners and it foreshadowed what we’re seeing now.

        Feb 01, 2021 01:40 AM

        +1 That is an encouraging thought Matthew. The outperformance of Silver miners to Gold Miners is exactly what we want to see, and is bullish for the whole PM sector.

        Yes, Silver is now clearly in the next impulse leg higher, and the investing universe has had all weekend to put their eyeballs on Silver and the Silver miners, many for the very first time. New money is flowing into the ETFS, to the Silver miners, and the physical markets. Many dealers are completely out of coins and are on 4 weeks waits.

        In that video linked above from Arcadia Economics with 3 guests from bullion banks, Bill Murphy, and David Morgan, they got into just how insanely tight supply is right now in the physical markets. This is a significant moment in time.

    Feb 01, 2021 01:44 AM

    Friday marked silver’s first daily MACD buy signal above 0 since July and now it has blasted above that important fork support (blue) that has contained it since September:

    Feb 01, 2021 01:07 AM

    Kootenay looks perfectly set up for a launch and all that low grade silver (in addition to its high grade stuff) will provide a lot of leverage to silver as silver moves through the mid 30s…

        Feb 01, 2021 01:40 AM

        Good IPT chart Matthew. Nice to see that bottom trendline in the fork is still working as you “pointed” out. I’ve got a nice position in both Impact and Kootenay that you mentioned above, and am keenly interested in watching these silver stocks make their next move higher.

        I’d be curious to get your take on both Santacruz Silver (SCZ) and Silver Tiger (SLVR) charts, if you have a moment to look at them.

          Feb 01, 2021 01:53 AM

          It looks like silver saved SCZ from a small H&S pattern that appeared to be activated last Wednesday. It’s not my favorite looking chart but the fact that it has been hanging out above its summer high for so long is probably a good sign. I’d be surprised if any silver stock doesn’t gap up today.

            Feb 01, 2021 01:00 AM

            Thanks. Yes, that was my concern – that SCZ may have been starting to roll over and dive down, after a big move higher, but it looks like it bounced off the 50 day MA as well, and this recent move in Silver stocks did stave off that fall. I’m just trying to look at which ones are at risk of underperforming in this move compared to some of the ones that haven’t moved quite as much, which may be better plays.

            Feb 01, 2021 01:49 AM

            Hi Ex, all those warrants in Santacruz become free trading in another week, I believe on Feb 8th. I’m out for now but that could be the drag on SCZ. DT

            Feb 01, 2021 01:48 AM

            Good point on the upcoming free-trading shares DT.

            I trimmed a bit more Santacruz today (and trimmed back 8 stocks today so far earlier in the day). I did still keep a core position in place because Santacruz is at a zero cost basis. It is only 40% of what it used to be in overall size, but the shares have become many times more valuable the last 3 years, and I’ve had about a dozen good swing trades around the core position in it since 2018. As a producer they are going to continue to do well with Silver prices up here, but I wanted to rotate funds over to companies further down the food chain that may run harder on a percentage basis moving forward.

            Feb 01, 2021 01:36 AM

            Matthew, just giving you a thumbs up because my IPT has been doing well, and I’m really only in that one because of you. So, thanks.

            Feb 01, 2021 01:03 AM

            Canuckski, thank you for that. You’re welcome.
            It ran into some Bollinger Band, Keltner Channel and pivot resistance this morning but all are minor, short term considerations…

          Feb 01, 2021 01:56 AM

          SLVR simply looks good to go. Look at that volume on the 10% move on Friday (and that MACD, etc):

            Feb 01, 2021 01:02 AM

            Yeah, I wasn’t sure with trading mostly sideways the last few months, if it was going to get moving again or not, but that boost of new buying on Friday was an encouraging accumulation, and I hope to see that trend continue with SLVR. Thanks again.

            Feb 01, 2021 01:22 AM

            Any thoughts on Barrick gold (NYSE:GOLD)? It looks cheap and I am looking at long term call options.

            Feb 01, 2021 01:13 AM

            Pyrite, I don’t follow Barrick but I agree, it does look cheap. I would consider buying some of your long term calls now as it sits at the 50% retracement level of the move off the March low but be ready for the possibility of a quick dip a bit lower. If you wait for a convincing turn, you’ll have to pay more and possibly a lot more.

            (I would have a very different approach if your were buying short term calls.)

    Feb 01, 2021 01:57 AM
    Feb 01, 2021 01:10 AM

    Lots of double digit gainers again already in the pre-market action.

    (AUMN) Golden Minerals up 28% (it was up 35%)
    (MUX) McEwen Mining up 24%
    (SILV) Silvercrest up 24%
    (EXK) Endeavour up 22%+
    (CDE) Coeur up 21%
    (HL) Hecla up 15%
    (USAS) Americas Gold & Silver up 15%
    (EXN) Excellon up 14%
    (AXU) Alexco up 13%

    We are off to the races…

        Feb 01, 2021 01:36 AM

        (AG) First Magestic is up over 28% in the premarket.

        That will be the lead horse that many folks will be watching due to all the attention they’ve gotten with their outsized short position from the WSB community.

          Feb 01, 2021 01:36 AM

          Magestic = Majestic.

            Feb 01, 2021 01:56 AM

            I’m enjoying this one because I have it in two accounts. One is up approx. 440% and the other 158% since purchase.
            Do or die, I haven’t sold any of those holdings…. yet.
            If only the rest of my portfolio would look like this.

      Feb 01, 2021 01:58 AM

      Imagine when the boys wake up………

      Feb 01, 2021 01:33 AM

      Thanks Ex.
      I’m a holder of all of them except for Golden Minerals.
      Of the ones listed, my top 3 heaviest weightings right now, in order, are:
      1) CDE
      2) AXU
      3) USAS

      Feb 01, 2021 01:00 AM

      Avino is up over 40% today. silvercorp over 17%.
      Im not too sure about silvercorp, I only expect about a double from here (unless silver goes to 100s of course) there could be better pay offs around.
      Mandaly for example could still be a 10x better if gold increases.

      Bit of a ramble, just wanted to mention avino.

    Feb 01, 2021 01:02 AM

    London tried to knock silver itself down a bit on open this morning, but they don’t have much clout any more.

      Feb 01, 2021 01:30 AM

      Follow through buying tomorrow would be good to see. This squeeze higher will reverse lower sooner or later. Lets just hope its not a brutal takedown like we saw in 2011 with margin hikes.

    Feb 01, 2021 01:56 AM

    It will reverse if traders are buying.
    It may not reverse id buyers are stockpiling for use.
    At some point in time manufacturers WILL STOCKPILE, rather than be without, or forced to buy at much higher prices.
    Silver is not just a useless commodity.

      Feb 01, 2021 01:43 AM

      SILVER: say hello to my little friend…

    Feb 01, 2021 01:23 AM

    BackBox272 Range. ABCD extensions.

      Feb 01, 2021 01:48 AM

      Gold update!

      In regards to silver it has had its run and the sentiment has turned quite bullish. Although charts show that it’s eventually imminent that silver will break through $30 and change and start its next wave higher, caution can be used as well for one last take down. There are no guarantees by buying at these lows regardless will reward you in the longer time frame. It does not surprise me one but for silver to be showing strength as we had higher targets last year which came up short yet it had a great run.

      I respect to gold which I follow more closely, I’m seeing a rolling formation anytime soon. Would like to see another pull down to the lower level of the right shoulder formation I showed you in my chart for the weekend. That lower level $1817-$1827 and possibly lower within that shoulder, has me thinking the miners will get taken down one more time. Nothing is for certain but just letting y’all know something to think about and to be ready if such case is exercised by the banks. To me it looks caked in. Regardless gold has put in its bottom quite certain.


        Feb 01, 2021 01:53 AM

        Week begins with Bull Trap,
        but more upside very possible.

        Feb 01, 2021 01:43 AM

        Thanks Glen. I appreciate your thoughts.
        I don’t know how much of the recent run is solely due to the entry of these new buyers, and ultimately, what the longer term impact will be on the PM market because of it.
        I do know that when I was looking to purchase physical silver over the weekend, there was a lot less being offered than the previous week, ad the price increase was also apparent.
        Again, thank you for the status.

    Feb 01, 2021 01:09 AM

    50% walk back of miners in first 30 minutes. Some things never change.

      Feb 01, 2021 01:12 AM

      The pattern the last few days of last week and this morning was the miners up the most in the pre-markets (for larger dual-listed companies) and first 30mis – 1 hour of trading in the rest, and then a fade during the balance of the day. I had noted up at the top of this blog how there were long red candles to the updside last week on Thursday and Friday, indicating that the trend was still up, but that the open got faded down into the close on each big rally. That is the same thing we are seeing today in many stocks.

      Overall though, it has been a very positive green day on the whole, and my account shot back up to all time highs once again, so no complaints here. There was still a lot of progress to the upside made in many stocks.

        Feb 01, 2021 01:16 AM

        Considering the magnitude of the move higher in Silver, I’d like to have seen even larger 3:1 or 4:1 moves higher (stock:silver) in many stocks, but the vast majority of Silver stocks are way up in the green, with many up double digits on the day.

          Feb 01, 2021 01:25 AM

          In prior strong bull market moves if Silver was up 3% then many torqued up Silver Jrs would be up 3:1 at 9% or 4:1 at 12% on that day.

          With Silver up 10% earlier, I’d have expected to see more stocks up 30%-40%, and with Silver still up 7% on the day, it would be nice to see more gains of 21%-28%. There were a handful that did get up to those gains earlier today, but it was not the norm. SILJ for example is still only up around 10% on the day, which is a tepid response by the Silver miners to such a strong move in the metal price.

            Feb 01, 2021 01:28 AM

            Comparison I’m making in this case is that we are nowhere near the highs some these plays got to back in august and yet silver broke $30 this time. Talking the Kootenay impacts etc….some of the producers have hit new highs

            Feb 01, 2021 01:38 AM

            Yes, good point Wolfster, and I had asked that question tongue-in-cheek over at when the silver price started running in overseas trading.

            If Silver made a move to take out it’s high from last summer at $29.92, then shouldn’t the miners be making similar runs at their highs from last August as well? Many are quite a bit a ways from those levels, and again, the miners are lagging the move in the metals once again, like last year. They are still up, but should be up much more.

            Then if one considers where these miners were back in 2011 when Silver was last at these prices, they are down by a factor of 2 or 3, so there is PLENTY of room for the Silver miners to run higher in their valuations to play catch up.

        Feb 01, 2021 01:27 AM

        I am satisfied so far as I think they feel they have silver under control compared to GameStop. Right now I have about one-third up over double digits, one third less than 10% up and one-third negative including Palladium One at. -7%. That is crazy as palladium/platinum still up and Group Ten up about +12%. I might be wrong but just feel this afternoon may pick up because today is similar to most every other day in reality…except an up trend maybe be catching on. Famous last words …

          Feb 01, 2021 01:34 AM

          That’s a good point on Palladium/Platinum, and yes, I was watching Group Ten run higher today with a smile, but some of the other PGM stocks I hold were up, but more lackluster.

          As you stated, things may pick up more in the afternoon, so the day is far from over at this point.

    Feb 01, 2021 01:23 AM

    Took some profits

      Feb 01, 2021 01:30 AM

      I did too Doc. I pulled some profits in Golden Minerals, Endeavour Silver, Silvercrest, Coeur, Silvercorp, Hecla, Alexco, Santacruz, and Impact today thus far. I added to positions in Ur-Energy, UEC, Baru Gold, Newrange, Westhaven, and Minera Alamos so far. Nothing major in most of those (about 15-30% tranches on the sells and & buys).

        Feb 01, 2021 01:44 AM

        Added a bit to my Northern Vertex position today as well.

      Feb 01, 2021 01:31 AM

      I did too Doc. I pulled some profits in Golden Minerals, Endeavour Silver, Silvercrest, Coeur, Silvercorp, Hecla, Alexco, Santacruz, and Impact today thus far.

      However, I added to positions in Ur-Energy, UEC, Baru Gold, Newrange, Westhaven, and Minera Alamos so far. Nothing major in most of those (about 15-30% tranches on the sells and & buys).

        Feb 01, 2021 01:15 AM

        Sorry, not sure why that double posted.

          Feb 01, 2021 01:50 AM

          Must have been a quality post for double post. I liked it. I also talked myself into picking up some more Palladium One as long as they were running a sale at -11%.

      Feb 01, 2021 01:31 AM

      Can’t blame you for doing it…..until they can get silver to hold above $30 they haven’t really started to win the battle so to speak

      Feb 01, 2021 01:34 AM

      Smart Doc. I wish I had your discipline. I did take a small profit to pick up Brixton again after the pull back, as they had decent drill results and I had to keep up its momentum for Matthew. I keep thinking I need to constantly think about taking profits as you never know when the PMs turn and turn fast. I am sure Ex is taking them also as he can’t let those good trades get away. Thanks guys for all the great info over the werkend.

        Feb 01, 2021 01:47 AM

        Hi David – Yes, I noted my trims and adds up above, so far today. I’m still looking at other trades, but that was the halftime report. 🙂

        Feb 01, 2021 01:59 AM

        David, I’m waiting to add to Brixton. I’m kicking myself for not taking profits right at the opening but it is what it is. I have a feeling there was just too much hype over the weekend with silver—I like it better when noone is pushing the price.

          Feb 01, 2021 01:02 AM

          Doc – Some of the best pricing on Thursday, Friday, and today was actually in the Pre-Market trading or the first 30-45 minutes of the normal trading session.

          P.S. – I had emailed you back twice last week in response to your question, just as a heads up.

    Feb 01, 2021 01:34 AM

    Looking into rare earth stocks. LYSCF, TMRC,
    Opinions welcomed in the sector and these 2 stocks.
    Also other rare earth stocks recommendations couldn’t hurt.

    Feb 01, 2021 01:58 AM

    (VZLA) (VIZSF) Vizsla Drills 10,019 g/t AgEq Over 0.43 M Within 1,909 G/t AgEq Over 2.42 M to Double Depth of Napoleon Discovery

    by @newswire on 1 Feb 2021

    Feb 01, 2021 01:09 AM

    STATS: Earliest Swing High Wednesday/Thursday.

      Feb 01, 2021 01:11 AM

      “Turnaround Tuesday” much less likely.

        Feb 01, 2021 01:39 AM

        BDC- Are you talking about Silver or Gold?

        Silver had pretty much turned around as of last Thursday, so I’m guessing you mean Turnaround Tuesday for Gold is less likely?

          Feb 01, 2021 01:08 AM

          Gold/Silver Mining Indices were
          at full Saturation on Wednesday.

          Feb 01, 2021 01:18 AM

          When you say “full saturation,” could you describe what you mean. I believe you were saying it was volume-based in conjunction with other data, but I don’t quite understand the method.

            Feb 01, 2021 01:30 AM

            I use seven factors based upon price alone.

            Feb 01, 2021 01:55 AM

            OK, so when something is full saturation, then it is based on those 7 price related factors giving that reading. I just wasn’t sure what made a reading “fully saturated”. Are you comfortable sharing those 7 inputs, or is it more of a proprietary system?

          Feb 01, 2021 01:10 AM

          The hold/turn last Thursday was very powerful.

    Feb 01, 2021 01:57 AM

    Yes, for a Swing Top in Gold (earliest).
    For Silver, Thursday/Friday (earliest)?
    [Analysis based on Gold miners only!]

      Feb 01, 2021 01:23 AM

      So, for clarity, that is when you think we may see a short term swing top, marking a higher recent peak, but then we’d be heading into lower highs and lower lows after that. Is that what you meant BDC?

        Feb 01, 2021 01:39 AM

        Short term Swings only. High or Low.

          Feb 01, 2021 01:58 AM

          As mentioned Wednesday:
          “More downside is not precluded.
          Continued Saturation is possible,
          with additional shorting/selling.”

            Feb 01, 2021 01:56 AM

            OK. Understood. Thanks for clarifying.

            Feb 01, 2021 01:30 PM

            Interesting aside: On the 19th Great Bear
            was a dime from 7 out of 7 Max Saturation!

            Feb 01, 2021 01:37 PM

            The strongest I can recall, Index or Stock.

    Feb 01, 2021 01:48 AM

    Something tells me that this move in silver is not the real deal yet. There are too many technicals that I’m watching that are yelling caution. That’s okay since if true the best is yet to come in the future. I believe that by taking some profits, buying in the future will lower my cost basis even more.

      Feb 01, 2021 01:15 AM

      +1 Doc

      Very prudent to have taken profits. It’s the reason why I have been saying what I have lately in regards to caution and “possibly” more downtrend. Regardless if we are taken down again on silver and gold miners then you will have the chance of a lifetime..

      Just like yourself I have a few red flags and why I continue to profess what I’m seeing.


        Feb 01, 2021 01:30 AM

        Especially if we have a declining conventional market, the PM stocks will have some pressure—not a lot anymore but some pressure.

          Feb 01, 2021 01:52 AM


          Feb 01, 2021 01:05 PM

          Yes, that is a concern if the general markets due decline, they may pull other sectors like the PMs down with them temporarily which would be a headwind. Even if the Gold and Silver stocks get hit, I wouldn’t expect them to get hit as hard as some of the frothier tech stocks, vaccine stocks, or general indexes will.

            Feb 01, 2021 01:06 PM

            due = do (and hopefully the markets don’t turn to doo-doo).

      Feb 01, 2021 01:02 PM

      Yes, whether this is a continuation of last week’s breakout in Silver, or just relief rally remains to be seen, but I was of the same mind Doc, and got busy harvesting some partial gains early in the morning, in case it was just the Reddit/WSB temporary flash in the pan. However, there were many miners that were set up to move higher or lower technically, before all the noise showed up the end of last week.

      I’m not sure if you’ve watched any of the SilverChartist videos I’ve been posting, but Steve Penny has been sharing his sector and individual company charts, as well as Patrick Karim (aka BadCharts on Twitter) and Kevin Wadsworth (aka @NorthStar on Twitter) and they all seemed to be in agreement that many of the Silver miners were at key inflection points based on the moving averages and trendlines they had pulled back to, or in some cases companies were in compression triangles and nearing the apex that were going to break hard one direction regardless.

      If nothing else, it has been nice to see more focus in the financial news on Silver and the Silver miners, and there are at least new investors coming into the resource sector for the first time.

        Feb 01, 2021 01:33 PM

        Overall, I’m still pretty encouraged so far with the move in Silver that started the middle of last week at $25 that has now taken it up $4 to $29+ That is a really big move for Silver in such a short time, so it could correct and give some of that back, but that is unmistakably bullish action.

        Also, on Thursday, Friday, and today on Monday there has been double-digit moves in many of the Silver miners, which is also some of the most bullish action we’ve seen since last summer, and it has erased any ground lost in my portfolio since the January corrective move started, and it has gone screaming up to an all time high once again, so it has definitely been bullish. Not so much in Gold or the Gold stocks though, but I’d rather see Silver and the Silver stocks lead the charge, as that is what happens in some of the most bullish moves in the PMs.

        It’s right to err on the side of caution, as the moves are so large, but those that were too cautious were out of position for these large moves we’ve seen the last 3 trading sessions. As someone holding about 2 dozen silver stocks, it has been a thrilling last few days and quite profitable.

        Feb 01, 2021 01:57 PM

        Ex, I’m thrilled with the miners move and feel this is just a shot off the bow of what’s to come in the future—if we get the down move in the general markets I’m expecting, these stocks could consolidate for awhile with some downward pressure which I would welcome since I would load up again with a very low cost basis. 2021 was a very good year for my investments but I feel this year could be disappointing for many people in the general markets.

          Feb 01, 2021 01:17 PM

          Yeah, I’m pretty thrilled with this move as well, and again a $4 move in Silver in just a few trading sessions is huge. I do agree, that due to the speed and strength of the move, it may give back some of the gains, but they will be from much higher levels, which is also bullish (higher recent highs). I trimmed back about a dozen positions into the strength today, but also added to a half dozen positions (outside of the silver space). If we get a pullback down, that is synched with a corrective moves in the general stock indexes, then I’ll be happy to reload at lower levels, as the longer term bull market is very much still intact.

          I really like the idea that this is just a shot across the bow of what’s to come, and agree that some of the moves we are going to see as this PM bull market continues to unfold are going to surprise even the bulls.

          Ever Upward!

            Feb 01, 2021 01:27 PM

            I currently have the lowest % in equities I’ve had in a long time. I added to my short position in the general markets on the move up today. I’m watching 5 minute, 15 minute, 30 minute etc. charts very carefully to take an increasing short position.

            Feb 01, 2021 01:29 PM

            I had mentioned closing out my VIXY position, so the only short I have in place is the (RWM) Short Russell2000 position. It is basically at a wash right now for me, but I’m planning on watching carefully as well, and if the markets start signaling any more weakness then I’ll add to that, and may start a position shorting the Nasdaq next.

            Feb 01, 2021 01:43 PM


            Feb 01, 2021 01:13 PM

            Yes, (PSQ) is good, and I was also considering (RYAIX) Rydex Inverse NASDAQ-100® Strategy Fund

            Feb 01, 2021 01:24 PM

            Just went over the dynamics of the conventional markets again and I’m going to be very careful with my shorts—if the market looks like another move up tomorrow it breaks some resistance and I’m gone. This thing is levitating but may levitate some more in February and March. The monthly MACD now looks better in shape for the markets and this thing won’t go crazy but could mess around at these levels for some time yet.

            Feb 01, 2021 01:21 PM

            Yes, I’m not betting the farm on the short position, or anything like that. I initially took it out the position in RWM prior to the Jan 6th event, in case there was a selloff from that event, and even though things got crazy the markets shrugged it off. When things dipped down briefly a few days later I exited for a tiny gain. I then decided to put a short position back in place later in January, as the Russell2000 just looked way ahead of itself, and the small cap stocks will likely be the ones hit the hardest by all the lockdowns and business interruptions in the marketplace. So far the trade is a wash, neither gaining or losing much. If the markets look like they are starting to perk up, then I’ll also liquidate the short, but I took it out mostly as a small hedge to my retirement account that is still in US Smallcap and Midcap mutual funds. The tech sector seem extremely frothy right now, and that is why I’d consider another short but on the Nasdaq.

            Right now I’m just watching for more of a trend to develop one way or the other.