quote:

Originally posted by apprentice:

quote:

Originally posted by Aeteocles:

Ah, yeah. I'm not gonna be responsible for anyone losing money. Not a financial advisor, this isn't financial advice.

You'll have to jump on Reddit r/WallStreetBets and just decide for yourself what your play is.

At this point, this has as much do with stocks and finance as it does with game theory, social psychology, and a low grade social protest. Couldn't tell you how it'll play out, or what I would do with your money.

Fair enough, had to ask.
Thanks to you and RogueJSK for the tendies info as well. Wonder how long that meme will last.

Referring to gains as tendies has been ubiquitous on all of the various investing subreddits for a while. I don't think it's going anywhere.

quote:

Originally posted by cne32507:

quote:

Originally posted by braillediver:
The Hunt Brothers tried to corner the silver market in 1980.

quote:

Silver Thursday

https://en.wikipedia.org/wiki/Silver_Thursday

I remember this well. What pisses me off is that the Hunts weren't sued out of existence for the losses and deaths of citizens whose homes and businesses were robbed. Suddenly my wife's wedding silver was worth thousands, as was my father's modest coin collection. My house in Pensacola was burglarized as were many others. Some homeowners were killed. Silver buyers operated storefronts and openly advertised "paying top dollar" and immediately melted it all. All because some rich sons of a billionaire wanted to make their mark. This week I am pulling for Tampa. Fuck the Hunts.

And this sons of bitches were loaned over a $billion to pay Bache.
Which THEY HAD A STAKE IN.

FUCK these speculators and hedge operators.
They MAKE their millions by FUCKING us.

quote:

Originally posted by SigSentry:
Get ready for the squeeze on silver next week.

https://amp.reddit.com/r/walls...he_world_slv_silver/

wondering what this will do to gold, we were planning on a sizable ( for us) purchase in physical gold as a hedge against inflation.

I'm just an investing novice, but I've read a few articles over the past couple days all saying that squeezing silver isn't nearly as realistic for the Reddit crew as Gamestop is/was, due to the much larger supply of silver available currently compared to the amount of Gamestop stock available, and especially the fact that as silver prices rise, millions of people unconnected to the "Wall Street vs. Reddit" conflict will flock to sell their scrap physical silver, thus introducing a much larger supply.

So it'd be basically impossible to convince enough people around the world to hold their physical silver, especially in a struggling economy, to realize a squeeze. Squeezes rely on cornering supply and then setting astronomical asks. All they're likely to achieve is a small short term price increase as demand initially spikes, then settles back down as demand wanes and supply increases. So there's the possibility of modest profits for those that had already bought into silver at low prices and that choose to sell towards the peak of the new temporary demand spike, but no "overnight millionaires" or "unlimited gains" like what is potentially possible with Gamestop (if everything works out exactly right, which it probably will not).

All arguments for buying and holding GameStop are completely illogical. Short interest has already dropped precipitously, and late buyers will be hurt more than the "big guys."
The WallStreetBets community has become a self-confirming echo chamber, with no plans for exit.
The current social media-driven stock mania will almost certainly end badly, leaving a new generation of Americans with a distorted view of a relatively sound financial system.
GameStop (GME) is having its moment. What started out as an arbitrage play designed to take advantage of an overcrowded short trade has now become a hot button topic among the general public, politicians, and celebrities. Being generally construed as a way for the masses to get back at Wall Street in a “David vs. Goliath match,” we believe that late-buying and long-holding retail investors will be the ones hurt instead.

If you wish to read more:https://seekingalpha.com/article/4402253-gamestop-stop-holding-on

I’m happy to have an excuse to buy more silver, I’ve always liked it and it has been kept artificially depressed for decades. Owning physical silver or SLV is way different than buying GME whether the silver squeeze works or not.

It isn’t just a precious metal, there are large industrial uses for it in industries that are only going to grow, circuit boards, solar panels, electric vehicles...

quote:

Originally posted by Aeteocles:


Referring to gains as tendies has been ubiquitous on all of the various investing subreddits for a while. I don't think it's going anywhere.

There's the disconnect for me, I've never been on reddit much at all.
Guess it's further proof of my dinosauric lifestyle.

"SLV by itself isn't going to crash the cartel, ultimately it has to be done on the futures market". Robert Kientz (15:00)

have to watch this again. Several bullion dealers (including Apmex) have halted order taking until market opens Sunday evening. they obviously don't want to be caught with their pants down.

Huge disconnect between SLV and physical. Price discovery is rigged.

forward to 1:05:00 for the GME connection

quote:

Originally posted by SigSentry:
Get ready for the squeeze on silver next week.

https://amp.reddit.com/r/walls...he_world_slv_silver/

Interestingly, that post has been removed.

The chart looks good with the next upside target of $34 to $36.

quote:

Originally posted by RogueJSK:

quote:

Originally posted by SigSentry:
Get ready for the squeeze on silver next week.

https://amp.reddit.com/r/walls...he_world_slv_silver/

Interestingly, that post has been removed.

I have no problem linking to it.

quote:

Originally posted by TXJIM:
I have no problem linking to it.

The only thing still available is the Comments. The content of the initial post is gone, and is instead now just marked [removed].

This is apparently a screenshot of what it had before:

Game Stop on the other hand is hard to show a trend or pattern even on the 15 minute chart.

I bought 100 shares at $19.94 when this whole thing kicked off. Cashed out at $347.51. Rolled 32k over to my Schwab account. Day trading has been a blast.

quote:

Originally posted by RogueJSK:

quote:

Originally posted by TXJIM:
I have no problem linking to it.

The only thing still available is the Comments. The content of the initial post is gone, and is instead now just marked [removed].

This is apparently a screenshot of what it had before:

Gotcha, I find the layout of Reddit a little chaotic so I missed that.

This message has been edited. Last edited by: TXJIM,

My dad has been a dealer in bullion for a couple of decades. I have never taken a position before and I called him today to buy a stake. He said the market is doing weird things since mid week last week. A large wholesaler he deals with has suspended all but in person transactions. AMPEX and others show sold out on everything except items with large numismatic premiums. This week could be interesting or it could be nothing, we will see.

Yeah, apparently most of the bigger online silver bullion/coin dealers have suspended sales until the market resumes later today. Thanks to the extreme volatility of the past few days, they don't want to get caught with their pants down by selling silver all weekend based on silver's spot price at the last close of business, but then the market opens later today and the price has skyrocketed.

Premiums over spot have also risen, to help cover some of the volatility as the price makes relatively steep jumps.

I posted previously about potential ripple effects. Here is a good read by El Erian. Very smart guy who used to run Pimco after Bill Gross left. He remains the Pimco chief economic adviser. I always pay attention to his research.

https://www.bloomberg.com/opin...will-surrender-first

If this happens to Silver I am retiring.

SLV would be wonderful, already have a position in it.
GO SLV!!!!