GameStop or GameOn?

Posted at 8:26 AM (CST) by & filed under General Editorial.

Great and Wonderful Friday Morning Folks,

      It’s First Notice Day for February’s Precious Metals Deliveries with April Gold up $27, at $1,868.20, right close to the London high at $1,869.60 with the low at $1,841.20. Silver is leading the percentages with its trade at $27.48, up $1.558 after hitting a high of $27.72 with the low at $26.15. The Never-Ever-Changing US Dollar is still at 90.47, up 4.3 points and has been in a channel for weeks, even with all this crap going on, with the high at $90.76 and the low at 90.455. Of course, all this happened before Comex opens, the London close, and after the Pakistani Supreme Court set free (acquitted) the men who killed Daniel Pearl. Very odd timing to say the least. Never Forget 9/11!

      Gold in Venezuela gained 252.69 Bolivar overnight with the last trade at 18,658.65 with Silver pushing up to 274.457 Bolivar showing a gain of 21.873. Gold under the Argentine Peso now has a 162,823.50 price behind an ounce proving a gain of 2,278.73 Peso’s with Silver gaining 191.88 A-Peso’s with its last trade at 2,395.11. Turkey now has Gold priced at 13,626.09 Lira, proving a 21.91 gain with Silver’s last trade at 200.477 T-Lira, gaining 13.728 since yesterday.

       February Silver’s Delivery Demands now shows 1,677 contracts standing for delivery with a Volume of 11 up on the board, inside a tight trading range between $27.395 and $27.37 with the last trade at the high, a gain of $1.486 so far today proving an increase of 71 delivery contracts over yesterday’s post. The proof that the system is being challenged again is inside the numbers behind the price as 9,593 paper contracts had to be added in order to keep Silver from exploding even higher bringing the Overall Open Interest to 177,527 overnighters willing to attempt the GameStop!

      February Gold’s Delivery Demands are now showing 33,327 fully paid for contracts waiting for receipts, a reduction of 12,449 contracts over yesterday’s numbers, with a Volume of 599 already up on the board with a trading range between $1,868.80 and $1,837.70 with the last swap at the high, a gain of $30.90 before Comex starts. February is a Primary Delivery Month for Gold; this might matter in the weeks ahead. Gold’s Overall Open Interest gained 1,939 contracts giving us an early morning total of 536,591 shorts (as the reductions in delivery are shadowed) to trade against the physicals, until that last bar leaves.

Trading app Robinhood has been accused of automatically selling users’ shares after banning GameStop stock – reports. If this is true, imo, it’s the sign post just ahead of a very bumpy road in getting one’s money back intact. Last night it was said that Robinhood was looking for loans (aka credit) from JPMorgan Chase & Co. and Goldman Sachs Group Inc. Now, at least to start the day off, Robinhood has lifted the ban, and GME continues to move upward, for now.

WallStreetBets was the group that pushed against the short hedge funds that were trading against their favorite store – Gamestop. Before Robinhood stopped their game, these same gamers were talking about taking their profits off GME and buying into SLV. Whatever the real story is, it appears that GME’s removal/stoppage was within a half hour time when Silver (chart is central timed) reached its peak, during yesterday’s trades.

Silver Hourly

No one knows for sure, but the timing sure helps the thesis and so does the data behind the price, as SLV’s Volume kinda moved higher yesterday.


     What a time to be on the sidelines, with precious metals in hand, while the entire Democratically control government, decides who will survive, and who can steal from the poor. WallStreetBets was also telling each other to buy physicals too. GameOn! Have a great weekend, have a smile for all and as always …

Stay Strong!

Jeremiah Johnson

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