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Building on @Ben_Mackovak's work on "when squeezes collapse," I pulled the data on the infamous "Hunt Brothers Corner" on silver (a corner is a causing of a squeeze).
A 6 Tweet thread
$GME, $SLV
XAG (silver) graph:
Sept 30, 1979 - June 30, 1980
A 6 Tweet thread
$GME, $SLV
XAG (silver) graph:
Sept 30, 1979 - June 30, 1980
As you can see in the Bloomberg graph above:
- The full retracement (from start to finish) lasted 4 months
- The frenzy lasting 3 months
- The moonshot phase lasted 1 week
2:6
- The full retracement (from start to finish) lasted 4 months
- The frenzy lasting 3 months
- The moonshot phase lasted 1 week
2:6
The Upslope Phase:
11/27/79: the last day of a $16s price. I denote this as the Start Date.
12/31/79 (34 days) $32 (2x from Start Date)
1/2/80 (36 days) $40 (2.5x)
1/18/80 (52 days) was $50 (3x and *All-Time* peak, not to be seen again for >30 years)
3:6
11/27/79: the last day of a $16s price. I denote this as the Start Date.
12/31/79 (34 days) $32 (2x from Start Date)
1/2/80 (36 days) $40 (2.5x)
1/18/80 (52 days) was $50 (3x and *All-Time* peak, not to be seen again for >30 years)
3:6
The Downslope:
2/5/80 $40 (-20%, 18d from peak)
2/20/80 $30 (-40%, 33d from peak)
3/18/80 $17 (-65%, 60d from peak - full retracement, but it kept falling)
4:6
2/5/80 $40 (-20%, 18d from peak)
2/20/80 $30 (-40%, 33d from peak)
3/18/80 $17 (-65%, 60d from peak - full retracement, but it kept falling)
4:6
The Denouement:
3/27/80 The Hunt Bros failed a margin call
3/31/80 $13.50 - (-73% - more than a full retracement, 73d from peak)
5/22/80 $10.89 - local bottom (1/3 below *pre-corner* and -80% & 122d from peak)
3/9/93 $3.56 -No bueno
12/31/2003 $4.56 -Todavía no es bueno
5:6
3/27/80 The Hunt Bros failed a margin call
3/31/80 $13.50 - (-73% - more than a full retracement, 73d from peak)
5/22/80 $10.89 - local bottom (1/3 below *pre-corner* and -80% & 122d from peak)
3/9/93 $3.56 -No bueno
12/31/2003 $4.56 -Todavía no es bueno
5:6
Summary:
After the Hunt Brothers silver corner peak, it took 2 months to fully retrace.
Another 2m and it was 80% off the peak (well below the starting value).
25 years later, silver was still dead.
Perhaps lessons for $GME diamond hands.
Yet The Silver may rise again.
[End]
After the Hunt Brothers silver corner peak, it took 2 months to fully retrace.
Another 2m and it was 80% off the peak (well below the starting value).
25 years later, silver was still dead.
Perhaps lessons for $GME diamond hands.
Yet The Silver may rise again.
[End]
Stupid no "edit" button: "(a corner is a COUSIN of a squeeze)"
