Raoul's China Saloon (V5.0) Beta
The Bar Room => The BS-Wrestling Pit => Topic started by: Escaped Lunatic on February 03, 2021, 05:27:12 PM
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For those who missed out, some big hedge funds were set to make a pile of cash - by selling stock they don't actually own (the stockmarket is a strange animal). This can drive a company out of business, while letting the fund more money. Those who oppose this are buying the stock to drive up the price, which is costing the hedge funds money. Just look up what's happening with Gamestop stock if you don't know what I'm talking about.
My lovely wife decided to join the fun. Gamestop was too much per share, so she picked one of the other stocks involved - AMC. That's a few more shares the hedge funds won't be able to get to help cover themselves.
Is anyone else involved?
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For those who missed out, some big hedge funds were set to make a pile of cash - by selling stock they don't actually own (the stockmarket is a strange animal). This can drive a company out of business, while letting the fund more money. Those who oppose this are buying the stock to drive up the price, which is costing the hedge funds money. Just look up what's happening with Gamestop stock if you don't know what I'm talking about.
My lovely wife decided to join the fun. Gamestop was too much per share, so she picked one of the other stocks involved - AMC. That's a few more shares the hedge funds won't be able to get to help cover themselves.
Is anyone else involved?
I'm watching this closely.. Almost jumped in the action for silver but I'm holding back right now
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Looks like the redditors behind this are running low on new money to sustain it. If AMC survives, I'm betting the price recovers once enough people are vaccinated to put my wife's shares in profit.
Silver looks very tempting, but fighting on both the commodities exchanges and the stock market at the same time looks like too broad of a battlefront. I think they should have focused exclusively on just a few stocks and held the line until a few over-shorted hedge funds buckled. That would have brought more people on board before going after those manipulating the silver markets.
If some people really want to mess with the US commodities exchanges (and live near enough to those), all the silver contracts are supposed to be backed up by 1000 troy ounce silver COMEX bars. There's no rule against taking delivery on the bars when a long contract ends. The rumor is that there are FAR more contracts than bars. If so, enough people collected those bars, the exchange would run out very quickly, and then we'd all see what happens when everyone realizes that there's a lot less real silver than contractual silver.