Ann: Manuka - Wonawinta Silver Project Mineral Resource Update, page-44

you need to keep a watchlist of peer stocks

yesterday there was a headfake up in all silvers but most sold down into close. eg IVR rose to 9.6 but ended 9.1,

mkr appears the most computer driven of all the stocks I follow

there's a rump of alligator buyers sitting at 35-38c waiting to buy from weak hands - and any moves above are just computer matched

suggests to me that the MKR sp is basically an illusion and that the real action is happening in dark pools


the reason for the headfakes in miners was gold/silver future prices lifting during our day - but it was never a true move because last night was delivery/notice day for gold/silver futures - either last night or tonight

the 3rd last trading day of every month (and generally the last week) brings weaker paper PM prices because
a) the US investment banks push the paper prices down to encourage futures holders to roll their contracts forward rather than take delivery +
b) financial traders dont wish to hold expiring contracts where they are required to take delivery

the algos that largely drive metal stock sps key off those paper prices

start of each new month is generally when PM paper prices are most likely to rise - end of month when they are likely to fall

the fact gold/silver paper prices rose so much into May futures expiry date suggests strong buyer demand.

that was an extremely atypical price move into a major contract expiry