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Silver Wheaton Corp. Message Board

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  • longpicker longpicker Oct 15, 2012 8:29 PM Flag

    How does it happen?

    I remember the same phenomenon back in the middle of August this year when Silver was $27 or $28. For a few trading sessions, as Silver would take the usual shellacking right about 10 to 10:30am (like clockwork) the miners would hold strong, if not edge up a little, then rally into the close. Soon thereafter we had the run up to $34-$35 POS.
    To me this is indicative of the strength of the physical silver market, since the miners actually have what the market really wants (not paper futures contracts), they get bid up because of their fundamental value based on their literal possession of physical silver.

    The market gets exhausted of paper silver.

    Sentiment: Strong Buy

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27.10+0.16(+0.59%)Jul 28 4:02 PMEDT