Reddit versus Wall Street

[Col Hogan]

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I'm going with the silver thing as interference/distraction from people going diamond hands on GMS/BB/AMC/etc.

They're scared.

Silver is up nicely over the last few months...well before this Reddit thing...

Right now, it’s off 30 cents an ounce...

[AZGrizFan]

I'm going with the silver thing as interference/distraction from people going diamond hands on GMS/BB/AMC/etc.

They're scared.

Silver is up nicely over the last few months...well before this Reddit thing...

Right now, it’s off 30 cents an ounce...

Yes, it’s the ETF’s that are up...and actually, Silver ended up closing up today as well.

[Col Hogan]

Silver is up nicely over the last few months...well before this Reddit thing...

Right now, it’s off 30 cents an ounce...

Yes, it’s the ETF’s that are up...and actually, Silver ended up closing up today as well.

Physical silver is also up over $5 an oz over the last few weeks...it’s down 41 cents on the open market right now...

[Ibanez]

CAA might have a different perspective but today’s looks like a low volume pullback. The volume over the last few trading days doesn’t seem to support the reports that almost 30% of shorts have covered...maybe there is something I’m not seeing or understanding. If millions and millions of shorts covered, the volume should reflect that. Add to that, calls/puts for $500-$800 are getting serious attention, we’re talking separate, multi-million dollar contracts. I dunno. Silver was clearly a diversion.


On top of all of that, GME has been in the threshold security watch for 36 days - and I thought after 13 days rule 204 was implemented.


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[SDHornet]

[Col Hogan]

Why #SilverSqueeze ‘backfired’; price is now collapsing

https://www.kitco.com/news/2021-02-02/W ... r-Hug.html

[Ibanez]

Why #SilverSqueeze ‘backfired’; price is now collapsing

https://www.kitco.com/news/2021-02-02/W ... r-Hug.html

The media, not the idiots on Reddit, are responsible for that "squeeze"

https://www.cnn.com/2021/01/31/investin ... index.html

In fact, some posts on WallStreetBets late Sunday and Monday suggested their movement is being co-opted by hedge funds and there is no coordinated effort in the silver market.

[houndawg]

This whole saga is awesome. I love seeing these hedge funds get squeezed. This won't end with GME, the game is going to have to be rigged even further for this to not happen again.

I didn't get in on any of this action, but might have to on the next company this happens with.

surely this is the end of times

[houndawg]

Trip, good points on the system. I'd argue that it isn't up to the State to distribute the wealth/gains, but ultimately individuals (and company's) choice to reinvest in their workers and their community via charities. Many do this, some could this more, but whenever the State gets involved all efficiencies are lost and you get to where we are today. More government would not help the situation we are in.

Regarding people not being education on how to invest and handle money in general, I agree. You have to ask yourself who has been in charge of the education system to understand why it is failing so badly.

Because we've needed the money for two decades of continual war-on-you-name-it, where the real money is made.

[∞∞∞]

Why #SilverSqueeze ‘backfired’; price is now collapsing

https://www.kitco.com/news/2021-02-02/W ... r-Hug.html

Speaking of precious metals, thought you'd enjoy this Col. Quarantine allowed me to save enough to finish my 1oz precious metals collection last year
(got the gold $50 and platinum $100, I've had the palladium $25):



I didn't think the silver dollar was special enough for the pic.

[AZGrizFan]

Trip, good points on the system. I'd argue that it isn't up to the State to distribute the wealth/gains, but ultimately individuals (and company's) choice to reinvest in their workers and their community via charities. Many do this, some could this more, but whenever the State gets involved all efficiencies are lost and you get to where we are today. More government would not help the situation we are in.

Regarding people not being education on how to invest and handle money in general, I agree. You have to ask yourself who has been in charge of the education system to understand why it is failing so badly.

Because we've needed the money for two decades of continual war-on-you-name-it, where the real money is made.

Not two decades. We took a 4 year pause. But it’ll get fired right back up with your friend Cameltoe Joe at the helm.

[UNI88]

Because we've needed the money for two decades of continual war-on-you-name-it, where the real money is made.

Not two decades. We took a 4 year pause. But it’ll get fired right back up with your friend Cameltoe Joe at the helm.

[houndawg]

Because we've needed the money for two decades of continual war-on-you-name-it, where the real money is made.

Not two decades. We took a 4 year pause. But it’ll get fired right back up with your friend Cameltoe Joe at the helm.

[Ibanez]

Because we've needed the money for two decades of continual war-on-you-name-it, where the real money is made.

Not two decades. We took a 4 year pause. But it’ll get fired right back up with your friend Cameltoe Joe at the helm.

Cameltoe Joe? That’s too good and a new one. Lol


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[Ibanez]

Today was a hearing with Reddit, Robinhood, hedge funds and the redditor that started it all. There were some good quotes, and some amazing backpedals but this was my favorite (after Roaring Kitty saying in his testimony that he isn’t a cat)



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[AZGrizFan]

Today was a hearing with Reddit, Robinhood, hedge funds and the redditor that started it all. There were some good quotes, and some amazing backpedals but this was my favorite (after Roaring Kitty saying in his testimony that he isn’t a cat)



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[CAA Flagship]

Today was a hearing with Reddit, Robinhood, hedge funds and the redditor that started it all. There were some good quotes, and some amazing backpedals but this was my favorite (after Roaring Kitty saying in his testimony that he isn’t a cat)



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Did she really say that?

[Ibanez]

Today was a hearing with Reddit, Robinhood, hedge funds and the redditor that started it all. There were some good quotes, and some amazing backpedals but this was my favorite (after Roaring Kitty saying in his testimony that he isn’t a cat)



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Did she really say that?

I wouldn't have believed it if I hadn't been listening.

Also, several members of the Finance committee know jack about the markets and know jack about the services that were testifying. One congressman said his nephew has no income but $1M in margin on Robinhood and asked how that's true. Vlad told him the only way to have that much margin is to have that much in cash deposited.

Congressman Anthony Gonzalez(R) got the Robinhood CEO pretty good. RH said they didn't have a liquidity problem on Jan 28. But they still had to raise $3B. Common sense says, you don't raise more money if you don't have a liquidity problem. So then the congressman asks, when the $3B collateral needed to be posted on Jan 28, did you have the money? Rh said they couldn't. The Congressman laughs and tells him he's pretty sure that's a sign of a liquidity problem. 3 weeks of saying there was no liquidity problems...boom he flopped in l3 minutes.

[Ibanez]

One thing that I PRAY comes out of this is real time settlement. It's 2021, why are we still doing T+2??

[Ibanez]

Today was a hearing with Reddit, Robinhood, hedge funds and the redditor that started it all. There were some good quotes, and some amazing backpedals but this was my favorite (after Roaring Kitty saying in his testimony that he isn’t a cat)



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I have to hand it to the Rs and Ds in the hearing, they hit the hedge fund, Robinhood, Citadel all pretty damn hard. Even AOC had a good point or 2.

[CAA Flagship]

Did she really say that?

I wouldn't have believed it if I hadn't been listening.

Also, several members of the Finance committee know jack about the markets and know jack about the services that were testifying. One congressman said his nephew has no income but $1M in margin on Robinhood and asked how that's true. Vlad told him the only way to have that much margin is to have that much in cash deposited.

Congressman Anthony Gonzalez(R) got the Robinhood CEO pretty good. RH said they didn't have a liquidity problem on Jan 28. But they still had to raise $3B. Common sense says, you don't raise more money if you don't have a liquidity problem. So then the congressman asks, when the $3B collateral needed to be posted on Jan 28, did you have the money? Rh said they couldn't. The Congressman laughs and tells him he's pretty sure that's a sign of a liquidity problem. 3 weeks of saying there was no liquidity problems...boom he flopped in l3 minutes.

I didn't hear it but I wonder what the context was. But I do believe she is dumb enough to say it.

Congressional hearings are a complete joke. The first question that should have been asked to each of them is "What do you see as the problem with what happened and what would you suggest to prevent it in the future?" Then go from there. Clearly they went in there with only THEIR perception of what the problem was, and drilled down from there.

I don't require any member of Congress to know much about this issue or many other issues. But I do require that they listen to all opinions as to what happened and what to do going forward.

[Ibanez]

I wouldn't have believed it if I hadn't been listening.

Also, several members of the Finance committee know jack about the markets and know jack about the services that were testifying. One congressman said his nephew has no income but $1M in margin on Robinhood and asked how that's true. Vlad told him the only way to have that much margin is to have that much in cash deposited.

Congressman Anthony Gonzalez(R) got the Robinhood CEO pretty good. RH said they didn't have a liquidity problem on Jan 28. But they still had to raise $3B. Common sense says, you don't raise more money if you don't have a liquidity problem. So then the congressman asks, when the $3B collateral needed to be posted on Jan 28, did you have the money? Rh said they couldn't. The Congressman laughs and tells him he's pretty sure that's a sign of a liquidity problem. 3 weeks of saying there was no liquidity problems...boom he flopped in l3 minutes.

I didn't hear it but I wonder what the context was. But I do believe she is dumb enough to say it.

Congressional hearings are a complete joke. The first question that should have been asked to each of them is "What do you see as the problem with what happened and what would you suggest to prevent it in the future?" Then go from there. Clearly they went in there with only THEIR perception of what the problem was, and drilled down from there.

I don't require any member of Congress to know much about this issue or many other issues. But I do require that they listen to all opinions as to what happened and what to do going forward.

The first few questions were basically that. How did this happen and how did you not see it coming? How is your business model failing your customers?

And i'm not saying you need to be a Comp Sci major but if you're going to be a longstanding member of any committee, it might be good to know some basics.