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Pressure on the silver price certainly helps - bigger impacts will be the results of surveys / samples which should hopefully force the hand of the mms to up the price and get UFO out of the slow / diminishing holding pattern designed to put pressure on the weaker holders to sell, so that institutions can (slow-build) buy them back up. What's happened in the last few months (from the spike) is textbook institutional play from large financial corporations. UFO's time will come (again!) albeit on a more sustained + higher price level.
Well silver is now up to $26.90 as I type - this is the next big play the drivers of the reddit group are pushing. Will be fascinating to see the impact of their voice across the next few weeks - which I hope in turn will bode very well for UFO. (in addition to all the drill news expected).
Yes - I agree with all of that - it's just the excesses of the practice, institutional tag-teaming & psychological warfare in forums such as these that I think are toxic and harmful to private investors / those with something personal to lose. In June this year a breakout of the price from the 70p range to 136p was snapped shut by simultaneous increases of short positions from Odey, Voleon & ENA. The same happened more recently in the early October 'jump' from 60p to 70p. Since then the share price has been held in a pattern around the 60p point. It's a vice grip dictated by short sellers - in my opinion - manipulation to supress positivity & encourage selling by others until such a time that the valve can be released (presumably after institution/s have re-bought their fill at the hugely discounted levels).
Morning all - a few responses received last night - i'll try to answer them all in one:
I should start by saying that I only messaged the board yesterday in response to what appeared to be a distressed PI. Losing (paper) money is unpleasant and whether or not Stu is down with Metro I wanted to provide a bit of positivity / my take, which is the opposite of the majority of posters that regularly use this forum.
It's a sad (but expected) fact that after a ray of hope a follow-up message attempts to spread further gloom, doom & doubt from someone who has clearly wanted to contribute to the demise of the share price. You only have to look at his/her previous posts to deduce this. This is shorting 101 - i.e. a tactic employed to weaken a PI's resolve and encourage selling. It was later followed up by a less intelligent & typically opportunist post from nomlungu explaining why 'shorting is a good thing'. Again I've seen this so many times before as a way of justifying the excesses of this practice. In a quick response to this article from 2018, the 'Oracle of Omaha' states 'there's nothing evil, per se, about ... selling things short'. I totally agree with this and would add that it only becomes ethically wrong once it is taken to it's extreme - aka metro bank - a company now valued vastly lower than it's actual worth AND potential going forward.
Theosus - Metro know their bank is not worth just £100m. I would go as far to say it could 5-10+ bag from here overnight so I don't think Amers is wildly wrong if that was his comment.
Dear Jimjam, thanks for the doubt and general negativity akin to almost all of your other metro bank posts. Tell me Jimjam, should I sell all of my shares and lose out on the potential of a significant return - as presumably you see no bright future for Metro Bank?
Patience needed Stu, I truly believe the best is still to come - price has been held back by institutions for themselves / others to build a position and /or impending offer. Was actually a little surprised to not see this taken down further on Monday after the lockdown announcement last weekend. It's currently a completely controlled play - holding / adding will pay off in the not too distant future.
Feels like it all hinges on whether Odey has switched to long - I was trying to work out which shorter 'BB8' represented on advfn as he's u-turned over-night on MTRO. It's a noticeable switch given that he has been one of the most negative MTRO posters for a long while.
Frumkin seems pretty chill with life - can't imagine things are too bad at Metro
https://youtu.be/a31KlQrxiGk