4 ms·

It's kind of a weird play, there is some but not that much speculative short interest: about 27% of contracts sold short by dealers, the rest are sold by miners

by huac 6y ago

It's kind of a weird play, there is some but not that much speculative short interest: about 27% of contracts sold short by dealers, the rest are sold by miners hedging exposure [1]. There's probably silver held out of the market that is available to sell into the trend too, and the CFTC has a reputation for acting faster than the SEC. I'd be surprised if we come anywhere close to $1k, but I'm not gonna fight the flow. [1]: https://www.barchart.com/futures/commitment-of-traders/technical-charts/SI*0 https://www.barchart.com/futures/commitment-of-traders/techn...

boublepop 6y ago
It’s not a weird play, it an absolutely run of the mill pump-n-dump scheme played out by a few people who are spamming Facebook, Twitter, TikTok and wallstreet bets with pitches like “this will be the next GME”, “make banks collapse, buy silver” etc. The people who stand to gain will exit way before any real effects of shorts or limited supply even has the potential to play in. They are trying to capitalize on the GME media attention and willingness of inexperienced investors to throw money at anything because someone told it would “go to the moon” in a tweet or tiktok.
- rualca 6y ago
  > It’s not a weird play, it an absolutely run of the mill pump-n-dump scheme played out by a few people who are spamming Facebook, Twitter, TikTok and wallstreet bets with pitches like “this will be the next GME”, “make banks collapse, buy silver” etc. More importantly, this farce seems to have been coordinated to target specifically redditors holding GameSpot stock to force them to sell out their positions. The amount of sock puppet accounts coming out of the woodwork to post their first message with enthusiastic claims regarding how GME e out and silver is in is astonishing.

4 ms·

It's kind of a weird play, there is some but not that much speculative short interest: about 27% of contracts sold short by dealers, the rest are sold by miners

by huac 6y ago

boublepop 6y ago
It’s not a weird play, it an absolutely run of the mill pump-n-dump scheme played out by a few people who are spamming Facebook, Twitter, TikTok and wallstreet bets with pitches like “this will be the next GME”, “make banks collapse, buy silver” etc. The people who stand to gain will exit way before any real effects of shorts or limited supply even has the potential to play in. They are trying to capitalize on the GME media attention and willingness of inexperienced investors to throw money at anything because someone told it would “go to the moon” in a tweet or tiktok.
- rualca 6y ago
  > It’s not a weird play, it an absolutely run of the mill pump-n-dump scheme played out by a few people who are spamming Facebook, Twitter, TikTok and wallstreet bets with pitches like “this will be the next GME”, “make banks collapse, buy silver” etc. More importantly, this farce seems to have been coordinated to target specifically redditors holding GameSpot stock to force them to sell out their positions. The amount of sock puppet accounts coming out of the woodwork to post their first message with enthusiastic claims regarding how GME e out and silver is in is astonishing.