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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: Tripsurfer] 1
#27178128 - 01/30/21 03:04 PM (2 years, 11 months ago) |
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I have seen some reports that the hedge funds have lost 70 billion dollars with this recent madness
https://finance.yahoo.com/news/losses-short-positions-u-firms-134105387.html
Hilarious
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ManianFH
living in perverty



Registered: 07/06/04
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: sh4d0ws]
#27178165 - 01/30/21 03:45 PM (2 years, 11 months ago) |
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https://www.kitco.com/news/2021-01-29/Can-silver-be-short-squeezed-to-1-000-Peter-Hug.html
Plans to short-squeeze silver to never before seen prices circulated on Reddit.
Silver has seen price action to the upside yesterday as a result, with silver stocks climbing in response.
Ultimately, pushing silver up to $1,000 an ounce is a practically, near-impossible thing to do, said Peter Hug, Global Trading Director of Kitco Metals.
“[Reddit users] indicated they were trying to short-squeeze silver. Much more difficult to do [than with GameStop] because here we’re talking about the big, big global banks involved in the market and the metals will trade on supply and demand fundamentals, albeit there is tightness in the market in investment products for silver. The larger 1,000 ounce bars have ample supply available…so there is no shortage of big bars on the market,” Hug said.
Market fundamentals are still on silver’s side on a medium to longer term perspective, and even after yesterday’s push up, the silver price is still undervalued at these levels, Hug said.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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Kryptos
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: ManianFH]
#27178298 - 01/30/21 05:59 PM (2 years, 11 months ago) |
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The silver thing seems interesting, but I don't fully trust the theory that circulated on reddit. Short squeezing silver requires (a) government stockpiles to be low, which I'm not certain is true, and (b) requesting physical delivery, which I figure is a lot easier to "delay".
If I make money off GME, I'll toss some profits at it. Otherwise, it's not worth a paycheck.
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Brian Jones
Club 27



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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: Kryptos]
#27178414 - 01/30/21 07:28 PM (2 years, 11 months ago) |
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A lot of hedge funds were already in the dumps from making big bets on Freddy Mac and Fannie Mae mortgage instruments. Trump's Secretary of the Treasury, Steven Munchin, a former hedge fund manager, was advocating privatizing Freddy and Fannie which would have made them more profitable. With the Republicans gone that idea goes out the window, and the managers are left holding the bag.
-------------------- "The Rolling Stones will break up over Brian Jones' dead body" John Lennon I don't want no commies in my car. No Christians either. The worst thing about corruption is that it works so well,
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Pastywhyte
Say hello to my little friend



Registered: 09/15/12
Posts: 37,808
Loc: Canada
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: Brian Jones]
#27179081 - 01/31/21 09:27 AM (2 years, 11 months ago) |
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I believe most of the physical silver in the world right now is held by jpm, who historically have been short silver (ETF’s) while accumulating somewhere between 3200-6200 tons of physical. They seem to have stopped their short (around November I think) and appear to be reversing to long. Either way I bought a pile of physical in March when it crashed and I’m pretty happy where it sits today. But if the WSB group wants to squeeze the already hurting shorts (and I think there is lots left to squeeze there based on fundamentals) I can only laugh. Most of my early purchases have already gained a lot of value and my later ones are doing fine as a store.
IMO Silver has been grossly undervalued since Kodak killed the film industry, (which is when JPM started to horde it IIRC) but from a fundamental side has historically had a lot more to offer than just using it up in film.
Maybe I’m way off but I’m happy with my purchases and it would need to fall a long way for me to regret it. It may be volatile but if you buy the floor one doesn’t need to sell the top to be happy.
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ballsalsa
Universally Loathed and Reviled



Registered: 03/11/15
Posts: 20,808
Loc: Foreign Lands
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: Pastywhyte]
#27179099 - 01/31/21 09:35 AM (2 years, 11 months ago) |
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I bought some SVM in case silver takes off. I've liked them for years
--------------------
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mndfreeze 
Shroomery Secret Service




Registered: 04/22/02
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: ballsalsa]
#27179226 - 01/31/21 11:01 AM (2 years, 11 months ago) |
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I bought a little chunk of silver bars years ago when we still had an active gold/silver thread going in here. I think I bought in at 15 or 16 bucks/oz. Don't really remember anymore as they just stay locked up in a mini safe for an emergency or whatever.
-------------------- Nothing says love like grannies prolapsed anus! quote]Urb said: I know... Its fucked up... Ill fix it minyana..[/quote]
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Pastywhyte
Say hello to my little friend



Registered: 09/15/12
Posts: 37,808
Loc: Canada
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: mndfreeze]
#27179242 - 01/31/21 11:12 AM (2 years, 11 months ago) |
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Bars at $15 - $16 toz would have been a good buy at most times in the last 20 years IMO and still a good buy today.
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mndfreeze 
Shroomery Secret Service




Registered: 04/22/02
Posts: 20,529
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: Pastywhyte]
#27179267 - 01/31/21 11:34 AM (2 years, 11 months ago) |
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Yeah. Silver is overall pretty stable and gains seem to be fairly small. I only bought a small amount to tuck away, nothing worth suddenly selling unless some catastrophe hits or it somehow hits 50/oz or something crazy, which I don't forsee anytime soon if even in my lifetime lol.
-------------------- Nothing says love like grannies prolapsed anus! quote]Urb said: I know... Its fucked up... Ill fix it minyana..[/quote]
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Pastywhyte
Say hello to my little friend



Registered: 09/15/12
Posts: 37,808
Loc: Canada
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: mndfreeze]
#27179378 - 01/31/21 12:45 PM (2 years, 11 months ago) |
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The stability and gains or losses are greatly exacerbated by the volume of units you’re dealing with. As a trading vehicle silver is super volatile, but as a store of value it’s actually underperformed relative to its fundamentals. While some people argue that gold is suppressed and manipulated, compared to the historical ratio of silver to gold (which largely doesn’t account for its industrial use today) of 30:1, the 70:1 or whatever it’s at now indicates a fair bit of room to move. I wouldn’t want to trade silver but as a store or hedge it’s pretty decent for poor folk like myself.
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Kryptos
Stranger

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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: Pastywhyte]
#27179433 - 01/31/21 01:23 PM (2 years, 11 months ago) |
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Just found out that Citadel is the fifth largest holder of SLV in the world.
Wonder if the "silver squeeze" was planned as a way to bounce back?
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Pastywhyte
Say hello to my little friend



Registered: 09/15/12
Posts: 37,808
Loc: Canada
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: Kryptos]
#27179455 - 01/31/21 01:41 PM (2 years, 11 months ago) |
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Quote:
Kryptos said: Just found out that Citadel is the fifth largest holder of SLV in the world.
Wonder if the "silver squeeze" was planned as a way to bounce back?
That would be pretty ingenious actually
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: Kryptos] 1
#27179968 - 01/31/21 08:42 PM (2 years, 11 months ago) |
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Quote:
Kryptos said: Just found out that Citadel is the fifth largest holder of SLV in the world.
Wonder if the "silver squeeze" was planned as a way to bounce back?
The silver squeeze is bc these people know they can manipulate COMEX more than they can the stock market. They've been fined hundreds of millons of dollars for doing it and nobody ever goes to jail, so why should they stop. It's a perfect distraction to suck people's $GME out of the market to cover their shorts.
Not sure about you guys but I got diamond hands.
This is power to the people. It's finally happening, haha!
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: mndfreeze]
#27179981 - 01/31/21 08:52 PM (2 years, 11 months ago) |
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Quote:
Kryptos said: They might well crash the economy at large to avoid the fallout from their super short.
GME will be the only survivor if they go scorched earth.
Good.
They've fixed the prices of precious metals so badly that we skipped bartering silver for food and went straight to ammo.
Quote:
mndfreeze said: Yeah. Silver is overall pretty stable and gains seem to be fairly small. I only bought a small amount to tuck away, nothing worth suddenly selling unless some catastrophe hits or it somehow hits 50/oz or something crazy, which I don't forsee anytime soon if even in my lifetime lol.
Never say never. There's 1.6T paper silver and only 3 billion real silver on the planet. So when it crashes, it's gonna crash hard. We've seen physical increasing over the past year even as SLV and GLD get fixed. There have been mass shortages in a plague and economic recession with inflation through the roof from bailouts, and the price isn't moving? You gotta be kidding me. It's like every silver holder's wet dream x3 for a SHTF event, and nobody is wondering why it's not sky high?
We had all of the world's gold trading every single day for months. I'm pretty sure they just keep doubling down and doubling down and being arrogant Boomers about the whole thing, thereby making all of this so much worse.
PF70 $1 American Silver Eagles in some series were already $100+ half a year ago; all the burnished are so rare now, old holders are adding +10-20% premiums, there's absolute STEALS on gold every day. I've been pulling in a lot of +$300 profit buys, and for someone without a gold/silver storefront, that's a lot. Usually it's all very thin profit margins.
I'm 99% sure this is what will finally expose these people and bring them down. A lot of the banks and fixers are getting death threats on twitter (love it!). Though, I do fear this will tank the economy, but that's not reddit's fault or the fault of the investors.
Simply put, Melvin got caught with their hand in the cookie jar and are being spanked. Fuckem.
The level of manipulation in media has completely eroded whatever sliver of trust I had for these organizations.
The past 72h have been a wild ride and tbh, I don't think we are going back to the way things were. There's lots of people talking armed revolt against banks and hedge funds, or how much they lost in 2008 when these cocksuckers cost everyone their homes.
I say let it burn. The system clearly is not working, and has not worked, for some time. We don't need a fix to the system because those don't work either.. So, we need a new system.
At the end of the day I'd miss my initial investment in $GME, sure. But I'd be honored to be caught holding the bag if it meant these motherfuckers had to pay more. You have no idea how delightful all of this is. They took everything from us in 2008. They can rot in hell.
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teknix
𓂀⟁𓅢𓍝𓅃𓊰𓉡 𓁼𓆗⨻



Registered: 09/16/08
Posts: 11,953
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: Adden]
#27180203 - 02/01/21 02:27 AM (2 years, 11 months ago) |
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Guys, I have a bunch of silver coins and stuff I use to trade on shroomery for stuff sometimes, but honestly, the hype shit is just to help Citadel imo, the 5th largest hold of the SLV etf, (and the one scamming GME shares) there is a lot of misinformation being circulated by these dopes through the media and even on the WSB forums , even shills on youtube. It might go up, I dunno and won't pretend to know what will happen, but I do know it is helping Citadel in the long run.
37 million call options: https://fintel.io/so/us/slv/citadel-advisors-llc
These same guys that Bailed out Melvin and have an obvious vested interest in GME going down.
I would benefit from the price going up and all, but I wouldn't personally be buying em right now.
AMC is the GME baby bro.
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Pastywhyte
Say hello to my little friend



Registered: 09/15/12
Posts: 37,808
Loc: Canada
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: teknix]
#27180453 - 02/01/21 07:54 AM (2 years, 11 months ago) |
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Yeah I wouldn’t buy silver right now either...buy when it’s in the toilet, not when it’s in the news. Right now I’m just watching my stack double in value but that’s it.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: Pastywhyte]
#27180479 - 02/01/21 08:19 AM (2 years, 11 months ago) |
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Agree. The SLV trade is not a good trade right here (unless you're dishing some of your stash out into the strength).
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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ballsalsa
Universally Loathed and Reviled



Registered: 03/11/15
Posts: 20,808
Loc: Foreign Lands
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: geokills]
#27180708 - 02/01/21 10:40 AM (2 years, 11 months ago) |
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That seems to be the consensus but I like SVM anyway.
--------------------
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Grimsweeper
don't fear the sweeper


Registered: 01/29/18
Posts: 4,843
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: ballsalsa]
#27180910 - 02/01/21 12:07 PM (2 years, 11 months ago) |
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-------------------- When you clean a vacuum cleaner you are a vacuum cleaner Build yourself a Flow Hood in these 99 simple steps
 
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Wall Street Bets (WBS) Short Squeeze (censored) [Re: Pastywhyte] 1
#27182580 - 02/02/21 10:15 AM (2 years, 11 months ago) |
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Quote:
Pastywhyte said: Yeah I wouldn’t buy silver right now either...
If you see Asante selling a precious metal, you might want to reexamine your position in them. I hold onto precious metals like a neutron star
-------------------- Omnicyclion.org higher knowledge starts here
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