A Guitar And Gear Support Forum

I'm planning to buy some of each.

This whole phenomenon is fascinating.

https://www.investing.com/news/stock-ma ... rs-2404544

Oh, and Koss.

Didn't buy any of those but bought DOGE last week and sold it before the end of the night, made a few bucks but should have waited. This Robinhood is kind of a middle man so selling out eventually my other stocks and might try some other company. Ameritade or Fidelity or something.

A bit of perspective: https://www.bbc.com/news/business-55882758
Buy Silver not GameStop!

Once any of this hits the news it is basically too late to jump in. Robinhood is always slow buying and selling. When this was going on there was a big delay. Fun in a way but I want to see the taxes.

mickey wrote: ↑Mon Feb 01, 2021 6:39 am A bit of perspective: https://www.bbc.com/news/business-55882758
Buy Silver not GameStop!

That was a good read. I look at the price of silver everyday. Not an investor but Silver American Eagles are one of our holiday things.

mickey wrote: ↑Mon Feb 01, 2021 6:39 am A bit of perspective: https://www.bbc.com/news/business-55882758
Buy Silver not GameStop!

There's a lot of speculation that the silver is just the hedge funds' guerilla attempts to distract from GME since they own a large stake in it.

I had sold my stocks on Robinhood a week before this and had funds sitting there, so I jumped on a few of the stocks. I'm prepared to lose it, so it's been interesting to watch. I'm probably being too optimistic, but any positive reform that comes from this would be worth it. Wall Street got off easy after they ruined things in 2008.

HOLD THE LINE...apes together strong!!!

I bought 1 share of GME last week...a couple share each of BB, NOK,AMC...
I have about a thousand in this short sale stuff...

Waiting for resident stock master @tobijohn to weigh in...

thepezident wrote: ↑Mon Feb 01, 2021 10:56 am HOLD THE LINE...apes together strong!!!

I bought 1 share of GME last week...a couple share each of BB, NOK,AMC...
I have about a thousand in this short sale stuff...

Waiting for resident stock master @tobijohn to weigh in...

I'm no expert, my background is in Forex and I've only started to dabble in stock options the last year or so (basically selling premium) . I primarily use a mechanical trend following methodology with some countertrend setups based on price action that I developed myself and is not applicable to momentum stocks. Trading that stuff is like getting in a poker game and betting on a traditional hand only to have the dealer tell you "BTW, twos, eights and tens are wild." The price action of those stocks is way outside my models and when i don't have a perceived edge, I don't participate...

This is definitely a game of poker. The stocks are definitely inflated/deflated artificially, but that's basically what the stock market is: what people BELIEVE a stock is worth. Look at Tesla: that stock was worth a lot when they weren't making a profit because people believe in the long run it will be very profitable. Stocks get manipulated all the time by hedge funds.

I sold my Nokia at a loss, trying to shift it into another 2 shares of Gamestop before realizing that Robinhood won't let me buy any more since I already have 1 share, which I actually have 3. So I guess there's nothing I can do besides just sit and hold and see what happens.

Again, only one man's opinion but based on my past experience and looking at the charts, the easy money is over and I think the odds of those stocks seeing new highs before they see new lows is slim...

I prefer silver. I have Silver Eagles and 90% silver half dollars. I bought a bunch in the early teens at 10 to 13 an oz, and rode it up to 52 oz. If I would have sold it then, I could have made a small fortune. I held on to it and rode it back down to the mid teens, and am now happily watching it at 27 + .

Some of the Silver Eagle rolls I bought were $350 a roll and now most are over $600. Beats the hell out of a market that is largely influenced by the big guys. I had MS years ago, and held for two splits and then sold and made a fair profit. That was almost 20 years ago and I've not had any thing in the market since. It's just a feeling, but I think there is going to be a huge downturn and not just an adjustment. Just a feeling. I'm glad I cashed out all of my retirement accounts 4 years ago when I retired as they were market based and influenced. Silver has also out performed gold on charts.
Hi Hoe Silver. lol

Not me. I invest mostly in index funds and through my retirement accounts. It's boring and I rarely check the balances.

SLV is not as easily manipulated as a stock like GME. It’s tied to the overall silver market and the number of shares is fluid. Those with short positions can essentially buy actual silver and create new shares to cover their short, so it’s not easy to create the squeeze like happened with GME.

tobijohn wrote: ↑Mon Feb 01, 2021 11:41 am Again, only one man's opinion but based on my past experience and looking at the charts, the easy money is over and I think the odds of those stocks seeing new highs before they see new lows is slim...

Yeah, my feeling is that this "revolt" of the little guys was super exciting, mind-blowing really...but I think the suits at the hedge funds just have too much knowledge, capital and insider connections to keep them on their heels for long. And it seems they've already gotten up off the mat and are fighting back.

I have been an index fund guy for 20 years....mostly S&P 500 index...and it has served me very well in the past 12 years. That's where about 90% of my investments are.

But I did have some cash sitting in my Etrade account, so I bought a few GME and a some AMC about an hour ago. I think the easy money is over...but I decided to gamble a bit. The idea of a short-squeeze done by retail traders was amazing...and it definitely worked....for a few days.

After this, I'm sticknig with my boring, tried-and-true S&P 500 index.

Chocol8 wrote: ↑Mon Feb 01, 2021 2:00 pm SLV is not as easily manipulated as a stock like GME. It’s tied to the overall silver market and the number of shares is fluid. Those with short positions can essentially buy actual silver and create new shares to cover their short, so it’s not easy to create the squeeze like happened with GME.

Yes, the notion of squeezing the silver market like they squeezed GME is idiotic. It's so dumb that it can't be taken seriously. And as many have said, it is possibly (likely) an attempt by hedge funds and banks to drive up the value of their silver holdings so they can raise cash to cover their GME shorts.

tobijohn wrote: ↑Mon Feb 01, 2021 11:41 am Again, only one man's opinion but based on my past experience and looking at the charts, the easy money is over and I think the odds of those stocks seeing new highs before they see new lows is slim...

Question: the easy money on GME and AMC might be over....but there are many other shorted stocks out there that could be pumped by retail traders in the same way, right? So, even if the hedge funds recover from their GME losses...and AMC losses...won't they have to keep fighting this same battle over and over again?

I'm far from an investment expert/finance professional...but this does seem to signal a sea change...and I find it hard to see how hedge funds can move forward with business-as-usual in this new era of social media Reddit traders.

I had a chance to sell my nokia and missed it. Was just talking about getting some silver with my dad last week but of course got distracted, because well, the end is nigh. I'm too busy working to death to actually time something and then implement it before its ran past me.

Chocol8 wrote: ↑Mon Feb 01, 2021 2:00 pm SLV is not as easily manipulated as a stock like GME. It’s tied to the overall silver market and the number of shares is fluid. Those with short positions can essentially buy actual silver and create new shares to cover their short, so it’s not easy to create the squeeze like happened with GME.

Anyone know how this is different or the same as the hunt bros of the 80s?

peskypesky wrote: ↑Mon Feb 01, 2021 3:22 pm

Chocol8 wrote: ↑Mon Feb 01, 2021 2:00 pm SLV is not as easily manipulated as a stock like GME. It’s tied to the overall silver market and the number of shares is fluid. Those with short positions can essentially buy actual silver and create new shares to cover their short, so it’s not easy to create the squeeze like happened with GME.

Yes, the notion of squeezing the silver market like they squeezed GME is idiotic. It's so dumb that it can't be taken seriously. And as many have said, it is possibly (likely) an attempt by hedge funds and banks to drive up the value of their silver holdings so they can raise cash to cover their GME shorts.

Do you happen to remember some years back when Texas' billionaire Hunt Brothers tried to corner the silver market?
If I remember correctly they ran the price of silver up to about $40/ounce before anyone noticed.

peskypesky wrote: ↑Mon Feb 01, 2021 3:29 pm [
Question: the easy money on GME and AMC might be over....but there are many other shorted stocks out there that could be pumped by retail traders in the same way, right? So, even if the hedge funds recover from their GME losses...and AMC losses...won't they have to keep fighting this same battle over and over again?

I'm far from an investment expert/finance professional...but this does seem to signal a sea change...and I find it hard to see how hedge funds can move forward with business-as-usual in this new era of social media Reddit traders.

It's possible that it could turn into a whack a mole kind of thing but I seriously doubt that the magnitude of these moves will ever happen again because now the really big hedge funds are aware of it. It's one thing to squeeze a few small players, it's entirely different to try it when the forces are massed against you.

Here is an excellent piece on the whole thing. The explanation of how it happens begins around 8:00 and the reason it won't happen again is around 32:00 but I'd highly recommend listening to the whole thing if you have the time:

mickey wrote: ↑Mon Feb 01, 2021 4:28 pm
Do you happen to remember some years back when Texas' billionaire Hunt Brothers tried to corner the silver market?
If I remember correctly they ran the price of silver up to about $40/ounce before anyone noticed.

Over $50 an oz, i was working on one of the commodity exchange trading floors (CME) when it happened...

Netflix to produce movie on GameStop (GME) short squeeze

https://www.shacknews.com/article/12249 ... rt-squeeze

peskypesky wrote: ↑Mon Feb 01, 2021 3:22 pm [And as many have said, it is possibly (likely) an attempt by hedge funds and banks to drive up the value of their silver holdings so they can raise cash to cover their GME shorts.

There is about zero chance of that. Banks are net negative (short) silver so definitely not them. The hedge funds would be extremely foolish to be posting on WSB right now when the SEC and state regulators are investigating. It is highly unlikely that the little guys behind the GME manipulation will get charged let alone convicted, but if a hedge fund got caught using a fake account to manipulate retail investors, the SEC would come down on them like a hammer.

It was most likely less sophisticated WSB members who saw that SLV has significant shorts without understanding the mechanisms behind the ETF and silver market and how it can’t be easily exploited like a regular stock. A lot of professionals in the stock world don’t have a good understanding of commodities either so it isn’t surprising.

nomadh wrote: ↑Mon Feb 01, 2021 3:59 pm

Chocol8 wrote: ↑Mon Feb 01, 2021 2:00 pm SLV is not as easily manipulated as a stock like GME. It’s tied to the overall silver market and the number of shares is fluid. Those with short positions can essentially buy actual silver and create new shares to cover their short, so it’s not easy to create the squeeze like happened with GME.

Anyone know how this is different or the same as the hunt bros of the 80s?

The Hunts and their Arab partners were extremely wealthy. They were also directly investing in physical silver and futures (contracts to buy physical silver in the future) not ETFs and derivatives. They were able to buy more than half of the worlds physical silver and had contracts for something like another quarter of it.

Even 3-4 million little guys on WSB don’t have that kind of buying power. Plus the market is bigger and more complex today with the funds, derivatives, derivatives of the funds etc. making it that much more difficult and expensive to move the market to that extreme.