The funds aren't going to stop hitting this until they have to. On Aug 17th, they will be on the two week COMEX clock to begin covering their positions. These low silver levels are a COMEX manipulated dream. When the shorts have to begin closing their shorts, the covering will be big. No one is selling real metal at these prices.
Maybe the market will wake up to the reality of the crushing slowdown happening globally. Perhaps a 17 P/E ratio for the entire market is a bit much with No long term revenue growth.
Are you telling me that paying 16+ P/E for the largest company in the world in a world that is in a global recession is expensive??!?!? That is why I sold after the last earnings call. Suckers!
It is going to be a total train wreck. I suspect some will be going BK shortly. The liquidity crunch is going to be too severe and there is no money out there for the juniors and some of the seniors. I sold everyone of them a few months ago, because the only way the street stops shorting silver is when they see the slack is gone and it is game over. It won't be too long now. JPM knows that and they started to accumulate.
When there is no direction, buy the S&P and short metals, oil, etc. The street gets into this groove and it gets hard to shake them out of it. It has worked for so long, let's do some. And then it doesn't work, and then it gets interesting....coming soon.
add china and greece to some seriously bad AA earnings and we will be 3-4% down by Thursday open...
World is in turmoil, silver selling out in US and other countries, JPM taking full delivery of physical every quarter, ETFs holdings of physical holding steady. Silver prices on COMEX getting crushed????
I haven't been pounding the board about manipulation, but this is ridiculous. I bought a lot today (paper). Someone is going to step in to take out physical along with JPM and ignite this price higher. I am frankly getting angry, but love the buying opportunity.
Miners are going BK at these prices which will really hurt supply. T-180 days before this price explodes
higher valuation vs. peers predicated on a rate rise that looks less likely. They will likely need to build provision with oil plummeting in the oil and gas business, plus Texas market is getting hit hard. If you want to bet on rates increasing, many safer ways to do it than buying this company
People start thinking, maybe this market isn't bulletproof. Maybe my double digit return isn't guaranteed every year?? Maybe all this debt actually needs to be paid back??! Wait, what if the masses don't support that??!! What is all this paper money is just a massive scam?!?!??!? I guarantee a few Chinese people are learning that right now and will be looking at something more secure than their casino bourse
not a bad idea. Get a bunch of silver too. Hard to buy your groceries with an ounce of gold…need change
Not this time. It may not plunge tomorrow, but I suspect it will take a hit. There is literally no good news coming in the future. Earnings will suck and cause crash of nosebleed multiples, rate hike coming, Greece in shambles and China is crashing. Oh yeah, watch real-estate suck some serious wind as rates keep slowing going up. Earnings will need to blow the roof off on top line to have any chance of us not going down from here.
He has the right idea, though probably a bit aggressive. This bank should be below avg PE at this point. They are in the worst market possible right now. I expect to see a big provision build this quarter...'no charge-offs though....we are just being cautious!' Yeah right, I have seen that movie before.
what do you think they are going to buy.........
Hi Ho Silver, Away (and gold)
why not! It is just as ridiculous as a 19 PE ratio. When logic leaves the building, anything is possible.