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or take advantage :)
A recent headwind for PM's has been the rise in US long bond yields. When these go up, the opportunity cost of holding a non-yielding asset like gold or silver rises too. So we see sellers and PM prices go down.
What has happened over the last few days? Funds and other insto investors needing to cover equity short positions under attack by the r/wsb phenomenon (and it is a phenomenon, perhaps not a durable one...) have sold liquid equity holdings to raise cash. Risk-off has become the mantra, with speculative stocks like UFO marked down as a result. Falling equity prices heighten the safe haven appeal of US long bonds which attract buyers. So yields on long bonds fall (they are below 1% again now), lowering the opportunity cost of holding PM's. And - as sure as eggs are eggs - PM's catch a bid and see their prices start to strengthen.
All of this is completely separate from the real world, where industrial demand for silver continues to increase as discussed endlessly here and elsewhere.
My expectation is that the r/wsb phenomenon will blow itself out within weeks. Too many people will lose money for it to be sustained. When this happens, the shorted stocks will fall and margin requirements will be released. The funds selling equities today will look to buy back what they sold. Equity prices will rise, long bond yields will fall and around again we will go...
These are short term fluctuations. They are not relevant for investors in companies like UFO who (should) have longer timescales.
So holders should just hold...
Smiler - yeah that’s my worry too. My cynical side has me worrying that it’s perhaps started by a fund manager lackies anyway, to spite someone else, or they will find a way to profit from it anyway.
Ive joined in, but risk for me is less than 0.001% of pot. If i get burnt so be it, but as the expiries are still a bit away i can get out with a few squid.
I like the concept, David vs goliath but to be honest though the hedgefunds in which we hate will end up jumping in pumping it up and selling and leaving the normal retail investor holding a super inflated useless stock which will then crash . So you might have screwed one of the hedgefunds but more normal people will get hurt here than make profit probably.
Looks like NOK is in progress too - gotta be honest, with the amount of manipulation i’ve seen in two decades, have to hand this one to the millennials... Well done!! Stick it to the man. Mind if make a few bob. ta.
GME is hilarious, suspect that the PM market will be targeted at some point...
Gamestop is just the warm up to The Big Silver Short, which will be the short-Squeeze of a lifetime.
Silver is a tiny volatile market. It won't take much to make it spike. It will happen.
It will be very interesting how it all plays out.
Hi EWT im still holding and im up about 30% or so.. i only put 3K into it.. and i dont care if I lose some for me its more symbolic than anything else.. perhaps the people instigating it are other hedge funds.. who knows ? but i like to think that its a load of "normal" punters that are frankly sick of hedge funds and the like destroying companies for no other reason than greed.. yeah maybe Gamestop needed to change and move to a new model.. but dont take them out of business.. its real peoples lives and jobs that matter..
Love the idea that I have helped kick back at them.. now they will all be thinking twice about things.. its about time people stood up to these people..
Just my take on it..
Reddit people power showing the way
Buy buy don't sell hold
It works but needs everyone pulling in the same direction can only dream
Hard to do on this site
Okay Max, fair point then on the directors dealings. I hadn't appreciated that.
Most depressing time of the year - last week of January.
AIM down, gold down, GBP/USD down, BTC down. All what people need now is cash...
I would like to see some director buys too, but in all fairness there are often long periods where they aren’t allowed to buy due to insider information.
The strategic Institutional investor has always been under 3% so doesn't have to issue a TR1.
There can't be any director investments since as stated in previous RNSs Hamersley & Elizabeth Hill are under JV discussions (it's against the rules for directors to invest).
Awesome Norm, have you managed to get out, or are you still holding?
I agree. Those ****s that are manipulating the metals need a lesson. They have all been fined before yet they continue to short and manipulate.
I joined GME not often you get to join a revolution
Well, since the hefty placing in november they've had plenty of time to show some positive TR1's or directors dealings to instill some confidence here & prevent it going sub 1p. I've seen neither so far.
There needs to be some serious questions raised over yesterday’s EUA drop, that was completely MM orchestrated and they punished people big time who panicked.
UFO will have it’s day, if the descending wedge we have holds I make it that we will have broken out and the bullish move will start at some point before 22nd Feb, though I suspect it will be slightly sooner in reality.
I've just created a REDDIT Account in anticipation. Oh and topped up again with UFO. Rounded up with lots of zeros....
I don't have reddit but how amazing would it be if everyone done what they did with gamestop for silver or even better ufo was mentioned haha but even silver would make companies think twice at manipulation . Max and co let's all suggest on reddit . Screw it I'll make a reddit acc haha
A lot of what they call "furloughed freddies" with stop losses got fleeced in EUA yesterday. The stock is up over 50% now.
People trading the stock will make you doubt your investment and rob you blind.
February is going to be the busiest month in Alien's history for news flow. Huge re-rate coming as we start to prove our est target of 245M tonnes!
Its crazy..not all these people are in from the early days for sure. Some are definitely selling at a loss.
Must be off Chasing rainbows.
Haha, ffs, this is relentless and so over done. I wonder if a few have jumped ship to try to make a quick buck on EUA, if they have... they were too late to that party!
looks like another lovely day in the markets, we will keep dropping as long as some muppets are willing to sell at 0.9p :D
https://mobile.twitter.com/maxkeiser/status/1354540496090238976 well joining in am ****ed off that siliver so low does not reflex real price so true. Its true nore us join in more it goes up simple look at gamestop. We all profit. If u really beleve siliver 25 ur lost. Because amount of money printed already siliver should be higher
Silver currently Sub $25. MAX111 you better get on REDDIT :)