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How Is There Not a Thread on GME / BB / AMC / NOK and Reddit?

Kyle

By Kyle
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ztejas

ztejas 43411

Posted
Posted
4 hours ago, TKthunder2 said:


https://www.surlyhorns.com/board/index.php?/forum/35-6th-street-journal/

https://www.surlyhorns.com/board/index.php?/topic/18756-my-not-so-short-story-on-gme/

Yeah but besides those two threads. Plus the thread about it in CR that you didn't link. 

Besides those how does it go unnoticed?

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BNB

BNB 100

Posted
Posted (edited)

I put a little bit in BB, NOK this weekend.

Put a bit more in AMC.

I've never day traded.  Always just bought and hold.  We will see.

I have faith in AMC after reading in the lockdown that AMC is a Chinese company, so I'm hoping they will pump the stock.

Hopefully I'm not too late to the party and this will be a longtime movement.  I just put my toes in. 

Made a bit of money on crypto over the weekend.

If I make a profit today, I will just use that to play forward, if not oh well.

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BNB

BNB 100

Posted
Posted (edited)
3 minutes ago, BNB said:

Made 8% today just looking at reddit this morning.   Hmm we will see.

Surprised this thread isn't blowing up.  

Made 50% on Doge and other crypto in the last week.

I'm only betting 10% of my savings now, hoping to multiply that.

 

 

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BNB

BNB 100

Posted
Posted (edited)

they were talking silver this morning also, but I didn't pay attention.

 

Ehh, I will ride the wave of whatever they are talking about in the morning, hopefully it goes up 5-10% in the day.

 

When I first started following the subreddit they were at 2-3m, now at 8m

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ztejas

ztejas 43411

Posted
Posted (edited)
38 minutes ago, BNB said:

they were talking silver this morning also, but I didn't pay attention.

 

Ehh, I will ride the wave of whatever they are talking about in the morning, hopefully it goes up 5-10% in the day.

 

When I first started following the subreddit they were at 2-3m, now at 8m

I don't see the same thing happening with silver. If it does I will eat my words. It seems cocky and poorly informed and out of their depth, frankly. The price might go up some due to increased demand but silver is a tangible item that a lot of people have sitting around in their homes. And it's tied so closely to gold - a commodity that I don't think these people have enough capital to affect in any meaningful way. 

I will expound - be careful about just jumping on anything posted on that sub. A lot of these people are morons. Some of them actually think that silver should be $1,000/oz and that they could get it there. They don't really understand macroeconomics. There are also plenty of actors working in their own interests to influence the mob in different directions. Nothing is stopping hedge funds from infiltrating that sub.

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workswithseed

workswithseed 2090

Posted
Posted
48 minutes ago, BNB said:

they were talking silver this morning also, but I didn't pay attention.

 

Ehh, I will ride the wave of whatever they are talking about in the morning, hopefully it goes up 5-10% in the day.

 

When I first started following the subreddit they were at 2-3m, now at 8m

WSBs is telling people not to buy since one of the short sellers holds a lot of silver.

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ztejas

ztejas 43411

Posted
Posted (edited)
26 minutes ago, next2naus said:

I saw an article stating the opposite, that the supply of bars to meet the orders is tight.

I didn't really mean physical demand. I wouldn't think the WSBers would be trying to buy physical silver. I suppose if supply got tight enough then the price might go up regardless. 

The point I was making in saying that it's a tangible item is that there is a loooot of silver out there that isn't usually on the market. There could be random influxes not easily accounted for if the price really started spiking. (basically I was using an example to highlight how different it is - I don't pretend to understand everything about the silver market)

The main point is that it's an extremely complicated market and is nothing like shares of gamestop. 

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ztejas

ztejas 43411

Posted
Posted
2 hours ago, Onboard 2.0 said:

I'm sitting on bags of sliver dollars from the late 1880's on, and lots of silver quarters, somewhere around $2k original purchase price back when my dad bought I believe  I have no idea at all what to do with that. The old dollar coins are gorgeous to look at though.

Talk about a relevant anecdote - lol. There are TONS of people like this out there that have never had a reason to sell.

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52-80

52-80 19147

Posted
Posted

Silver isn't today's phenomenon.  Silver rumors circulated the wider internet last Wednesday/Thursday.  (Bought some calls Thursday morning, flipped it at close this morning fofr +70%)

The thesis behind it is true...or mostly true.  I checked APMEX, Provident, and others.  Silver products are very unavailable.  Last-listed prices literally double from what I bought just a few Christmases ago

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bernorange

bernorange 8359

Posted
Posted
3 hours ago, ztejas said:

... I wouldn't think the WSBers would be trying to buy physical silver. ...

There has been a run on retail products.  Most dealers are wiped out.  Premiums will spike as demand for retail products exceed production capacity at refineries for the near term.

What the WSB want though is to squeeze shorts on the futures markets.  That will require deep pockets taking delivery of physical silver on long contracts until Comex warehouse inventories dry up.  The retail buying is an indirect means to this end as refineries ramp up production to meet demand.  Aside: thanks to Ron Paul, the US Mint is obligated to increase production to meet demand by law.

A dislocation isn't out of the question.  The gold market saw one roughly a year ago when c19/travel restictions/refinery closures/etc. contributed to the Comex running out of physical gold to satisfy delivery demands.  Spot price went haywire until Switzerland restarted their refineries and sent all their production to NYC.  And the Comex changed their rules so they could deliver claims on LBMA warehoused gold.

The markets aren't that bulletproof.  A mass movement by the people could definetely stress them if it's sustained.

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ztejas

ztejas 43411

Posted
Posted
31 minutes ago, bernorange said:

What the WSB want though is to squeeze shorts on the futures markets.  That will require deep pockets taking delivery of physical silver on long contracts until Comex warehouse inventories dry up.

Right. This is what I was trying to get at - not sure if I did. I'm not sure if they have the requisite capital to significantly shift the spot price. 

Thanks for the information add - but it sounds like a dislocation or price increase may have happened regardless of what they try and do? - and it doesn't seem like WSB is that on board with a silver play anyway. 

I get the feeling that some of them think if they buy enough paper silver they can effect a short squeeze like they did with GME and just looking at the economics even at surface level they seem like very different scenarios. 

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