Silver prices and assets like PSLV, SLV and Ag were in the spotlight last week amid talk of WSB’s short squeeze which may of been a institutional smoke screen to get money out of GME and AMC. Obviously, that momentum didn’t last long, but that doesn’t mean investors should gloss over silver.
If you have tried to buy silver lately you’ll understand there is a supply/demand issue. Silver’s physical market was already stressed prior to the pump, with major world manufacturers and mines encountering more demand for certain the industrial applications, mining operational issues due to covid and retail buying frenzy driven by inflation worries.
I’m taking advantage of this supply/demand problem but buying calls in SLV (not my favorite because it’s a paper derivative), PSlV and AG. I also am trying to put in weekly buys for physical silver.
Looking at the TA $26.90 seems like good support and we are trading ascending channel after the sell off which provides a bullish these. As
We trade higher I might move some of my AlGO apr in to physical silver. I can buy an OZ about every 2 weeks at AlGOs current price.