The US Futures Market opens in 8 minutes. Will the 'supposed' Big Boys be able to curtail this squeeze.
It might be too early for popcorn.
Haven’t seen much movement in international training.....
Even the GameStop crowd are saying not to buy silver.
I would be surprised if it gets too far down the road.
It is way more difficult to move an entire commodity market than a small companies stock......
Think rowboat versus Ocean Liner.....
So many people have bought gold and silver over the last 3 years or so due to the (sometimes not so) vague fears of instability that the only reason to buy it now would be to speculate on a short term spike due to the actions of the squeezers and to get off before the correction. The only other reason is if you have money to burn and actually just want to help the squeeze.
Hunt brothers tried this before, ended poorly.
Wow. A whole 2 bucks an ounce.
I am old enough to remember the Hunt Brothers trying to corner the silver market in the 80s,got up to $50 oz
Buy low. Sell high. Now is not the time to buy. Wait a few days and then sell some of it. It will come in handy when inflation hits like a freight train.
You are all being played by the anti-capitalists.
They want to show you how the system can be manipulated....the answer, of course, is not freedom and capitalism, but more government control and socialism.
And millions are falling for it.
Topical online commentary from someone who appears to have some legal training:
Actually I was not implying what the Hedge funds were doing was legal - it is just far more likely the SEC will go after the small investors using Reddit, because they have posted the details of their conspiracy online. Prosecutors tend to go after the low hanging fruit - where the targets have made the evidence available, do not have the resources to mount a defense, and will likely plead guilty. That is how the US justice system works - prosecutors indict the people most likely to plead guilty because they do not have the money to hire expensive attorneys (hat is how all DAs and other government prosecutors get a 98% conviction rate - they simply do not go after anyone who can defend themselves). Alternatively, private civil attorneys tend to go after large well funded corporations because they can pay settlements. It all ends up being about money and who has it. If you are vunerable you are far more likely ending up as a target of criminal or civil prosecution by government than the executive of a large corporation that has big law firms and deep pockets. Whether or not the SEC goes after the small investors will depend far more on how much money they make, then on the letter of the law. If they end up losing money - they will very likely get a pass, if they actually make a lot of money - they will become a prime target. I know that sounds backwards, but it is the reality of the justice system - the little guys have the money to pay fines, but not defend.
Oh and by the way - there is no sush thing as a class action defense. Class action suits are civil suits brought by plantiffs. Defenses from a single law firm will depend on whether the firm sees some form of conflict of interest in defending multiple clients - this is why almost all conspiracy charges that involve multiple accused end up with everyone having their own lawyer.
I think you need to look up the definition of conspiracy in federal statutes. If a group gets to gether and discusses some illegal action (such as market manipulation) and then that action is actually taken and ends up being an illegal action - all the members of the discussion are potentially guilty of conspiracy for the actual illegal action - even if they did not do anything further to implement the illegal activity. Conspiracy is the legal basis for almost all federal prosecutions. Just like when a group gets together and discusses moving drugs across the border, but only one of the folks actually carries out the action - everyone in the original discussion can be prosecuted under conspiracy charges. See 18 U.S.C. 371 which outlaws conspiracy to commit some other federal crime not covered by specific criminal statues such as drug crimes. This law is intended to create a very wide net for anyone participating in illegal activity even when they take no overt action to further the illegal action. I agree, it is not likely the SEC/Justice will pursue everyone on the Reddit boards, unless they make a lot of money - then the $250,000 to $500,000 applicable fines plus confiscation of all ill gotten goods will start looking very attractive to federal prosecutors.]
There’s a whole lot more silver metal out there than Gamestop shares.
Much, much harder to do a squeeze.
Unless, of course, there’s paper receipts issued by entities that do not actually possess the silver, or who have sold it more than once ;-)
Anybody been watching platinum creeping up recently?
reddit is NOT doing a short squeeze on silver. Bots are and Citadel Fund is one of the largest holders of silver paper.
Reddit discussion is laughing at the MSM trying to manipulate the markets.
There’s something seriously shady about how this story suddenly appeared over the weekend and was attributed to Reddit. The WSB crowd almost immediately noticed that most of the posts and comment were made by heretofore inactive old accounts (some dormant for years).
It looks like one of two things happened: a malicious actor gained control over a bunch of old accounts and then started s***posting silver hoping to push the price up, or a reddit user who had a bunch of dormant accounts (reddit allows and in some ways encourages multiple accounts for each user) is doing exactly the same thing.
First notice day for the FEB 2021 Futures Contract was 1/29/2021
https://www.barchart.com/futures/first-notice-dates/metals
The First Notice Dates Calendar shows the first day on which the buyer of a futures contract can be called upon to take delivery, or on which the seller can issue a notice of intent of delivery of a futures contract.
Anyone can post on WSB, and I’m sure there are a huge number of sharks that would LOVE, absolutely and passionately love, to see WSB traders dump GME into their shorts and dive into silver futures. That’s a market that can swallow a few billion in seconds.
I don’t see the fish biting like they did last week.
I got in on AG last week.