the upcoming Melbourne Silverstackers meet-up?
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the upcoming Melbourne Silverstackers meet-up?
Not sure. Inflation fears? Rotation from crypto? There's also a lot of chatter regarding Basel III implementation but I do not know if this has any merit in reality.
Maybe a touch of this...
https://markets.businessinsider.com...conomic-data-sour-sentiment-2021-5-1030464292
US stocks sink after consumer and housing data raise concerns about reopening momentum
Carla Mozée
May. 25, 2021, 04:06 PM
US stocks largely turned lower on Tuesday after disappointing data about consumers and house sales soured sentiment at a time when investors are counting a revival in business activity that was paused by the COVID-19 pandemic.
The Dow Jones Industrial Average and the S&P 500 lost ground to mark their first loss in four sessions. Stocks pulled back after Conference Board's consumer confidence reading for May was below expectations of 119.5, with short-term optimism by consumers down as they anticipate decelerating economic growth and softening labor market conditions in the coming months. Meanwhile, new home sales slid 5.9% in April to a more-than-expected annual rate of 863,000 units.
Here's where US indexes stood at 4:00 p.m. on Tuesday:
"When you start to see margin balances shoot up, that's a red flag for investors," he said. He said a study his firm conducted showed that margin balances in the US have hit record levels. With margin trading, investors borrow money from their brokerage companies and use the funds to buy stocks.
"It's a great indicator of a market peak. Margin balances before the Dot-Com bubble peaked. Before the Great Recession, they peaked. Currently, they are off the charts at over $800 billion, approaching $1 trillion." Schuringa said such balances have soared from around $479 billion after the coronavirus pandemic hit last year.
Around the markets, Lordstown Motors shares tumbled Tuesday after the company cut its annual production guidance and said it needs to raise more money as it aims to start production on its electric pickup truck this year.
Gold rose 0.9% to $1,897.94 per ounce. Long-dated US Treasury yields fell, with the 10-year yield at 1.56%.
Oil prices were mixed. West Texas Intermediate crude declined 0.2%, to $65.93 per barrel. Brent crude, oil's international benchmark, rose 0.1% to $68.52 per barrel.
https://markets.businessinsider.com...conomic-data-sour-sentiment-2021-5-1030464292
US stocks sink after consumer and housing data raise concerns about reopening momentum
Carla Mozée
May. 25, 2021, 04:06 PM
US stocks largely turned lower on Tuesday after disappointing data about consumers and house sales soured sentiment at a time when investors are counting a revival in business activity that was paused by the COVID-19 pandemic.
The Dow Jones Industrial Average and the S&P 500 lost ground to mark their first loss in four sessions. Stocks pulled back after Conference Board's consumer confidence reading for May was below expectations of 119.5, with short-term optimism by consumers down as they anticipate decelerating economic growth and softening labor market conditions in the coming months. Meanwhile, new home sales slid 5.9% in April to a more-than-expected annual rate of 863,000 units.
Here's where US indexes stood at 4:00 p.m. on Tuesday:
- S&P 500: 4,188.17, down 0.21%
- Dow Jones Industrial Average: 34,311.73, down 0.24% (82.25 points)
- Nasdaq Composite: 13,657.17, up 0.03%
"When you start to see margin balances shoot up, that's a red flag for investors," he said. He said a study his firm conducted showed that margin balances in the US have hit record levels. With margin trading, investors borrow money from their brokerage companies and use the funds to buy stocks.
"It's a great indicator of a market peak. Margin balances before the Dot-Com bubble peaked. Before the Great Recession, they peaked. Currently, they are off the charts at over $800 billion, approaching $1 trillion." Schuringa said such balances have soared from around $479 billion after the coronavirus pandemic hit last year.
Around the markets, Lordstown Motors shares tumbled Tuesday after the company cut its annual production guidance and said it needs to raise more money as it aims to start production on its electric pickup truck this year.
Gold rose 0.9% to $1,897.94 per ounce. Long-dated US Treasury yields fell, with the 10-year yield at 1.56%.
Oil prices were mixed. West Texas Intermediate crude declined 0.2%, to $65.93 per barrel. Brent crude, oil's international benchmark, rose 0.1% to $68.52 per barrel.
Millennial Engineer
Well-Known Member
Also its interesting that its done right before the futre's expirey
which is usually when it gets smashed.
Millennial Engineer
Well-Known Member
Silver price Trending down today, perhaps awaiting a smash down soon?
^^^^
Yes you could be right, we are approaching the end of the month, so a monkey hammering of the prices is to be expected
Yes you could be right, we are approaching the end of the month, so a monkey hammering of the prices is to be expected
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I was watching Mike Baloney last night.....yes yes I know... what I was I thinking cos I know the drill here with such commentary .
......and his side kick popped up this graph which I thought was interesting. Link to comments on graph and other below.
I haven't seen the source data so take it as you wish.
https://goldsilver.com/blog/two-charts-one-message-get-ready-to-load-up-on-silver/
......and his side kick popped up this graph which I thought was interesting. Link to comments on graph and other below.
I haven't seen the source data so take it as you wish.
https://goldsilver.com/blog/two-charts-one-message-get-ready-to-load-up-on-silver/
I actually thought the latest Peter Schill podcast was pretty damn good and informative aswell.
Millennial Engineer
Well-Known Member
I'm surprised it went over 36 AUD last night.
27.8 USD. I think 28 USD is the "limit" which seems to be guarded.
27.8 USD. I think 28 USD is the "limit" which seems to be guarded.
That limit used to be $25 USD. It's all about how much they're willing to give for an extra 6 months
Millennial Engineer
Well-Known Member
looks like the 3 PM AEST dip has been bought by 7pm AEST.
And with the crypto's tanking again it is not helping the manipulators' efforts either.
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Things are a bit quit.
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^^^
I usually only look at the prices on Investing.com
I usually only look at the prices on Investing.com
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me likey likey!