Looks like the name of the game is precious metals.
Silver, to be exact.
Reddit’s comments were centered on iShares Silver Trust, the biggest exchange-traded instrument backed by silver, calling it “THE BIGGEST SHORT SQUEEZE IN THE WORLD,” and citing banks manipulating gold and silver prices.
First Majestic Silver, soared as much as 39% in New York on Thursday, while iShares Silver Trust gained as much as 7.2% and spot silver gained 6.8%, the biggest jump since August.
I re-bought 10 AMC Feb 12 calls and 5 SPCE Feb 52.50 calls today, and I’m planning on buying a position in GME tomorrow since it is being being manipulated lower (temporarily).
These are potentially risky bets, but I believe that what is happening with WallStreetBets is the game changer here. Hedge funds with huge short positions are trapped because of the collective volume owned by those who follow WSB. They didn’t see it coming. They can only manipulate the stocks so long until they have to cover. A short squeeze is inevitable.
I also have a large position in FNGR, which I’ve been buying since $4. It closed at $15.10 today. FNGR is supposed to have a large short position as well but it’s not really touted in WSB. It should squeeze very soon.
I’ve been burned many times by shorts manipulating the stocks I’ve owned, so I notice the patterns on how these stocks are being traded. I think the current situation will be different because of the collective buying power of WSB.
Everyone should watch this video of Jim Cramer of CNBC. This video is from when he was a hedge fund manager. He’s a piece of shit like most hedge fund managers.
There are sites that tell you how many shorts are in a stock, and there are lists that you can search for online.
The whole point of WallStreetbets is collective mentality resulting in collective buying power. That’s the only way to be strong enough to fight hedge funds at their crooked game. So only invest in what many on there believe in.
If you just do a simple google search and actually go to Wallstreetbets
You would know that the silver play is a straight up lie.
You would also know that some of these hedge funds are long on silver.
They want to control the narrative and they are hoping useful idiots like DOOM aka Sherkahn, will buy silver to help them raise funds to cover their short positions with GME and other stocks they heavily shorted and took major loses on.
Don't be a DOOM aka Sherkahn, Don't be a useful idiot or agent of the CCP
Someone said buy silver so I tried last year
But all I got was this Silvergate thing, symbol SI
I really like a steady stock, not these ones that go up real fast.
Should I sell it now?
I sold my 5 SPCE 52.50 calls for 9.10 that I bought for 7, or a one-day 30% profit. I will likely buy additional calls in SPCE tomorrow if the stock pulls back.
I'm down in both AMC and GME, but I feel even more confident that they will run soon because of the way they traded today. Shorts are trapped and need to cover, and I believe hedge funds are now restricted from shorting those stocks further to depress the price; that's why they weren't down again today. I may buy more of both tomorrow to add to my current positions.
I haven't sold any FNGR and think it will also experience a short squeeze soon. I've held my FNGR position for the past 6 months waiting for its short squeeze (I'm up around 300% so far).
These are risky bets, but they can pay off big if things turn out the way it looks like they will.
I wouldn't invest in any of these with money you're not comfortable losing most of your investment. This is more gambling than investing, but market knowledge and trading patterns give insight as to what may happen soon. Given that, I'm pretty confident that AMC, GME, SPCE, and FNGR are going to experience short squeezes; the payoff can be huge, but the ride will likely be nauseating.
FUGO is another name that keeps coming up (second or third most shorted stock behind GME and AMC), but I don't have the bandwidth or the available funds to invest in every potential squeeze...
Gotta agree with GoBallsDeep on that one, having learned that the hard way, do not gamble on any investments.
Make educated, sound decisions. Do a simulation or a dozen to make sure your “formula/criteria” are working, and still play it smart.
How do you guys manage the tax reporting on all the transactions? I'm a newbie trading on eTrade and looking for tips on the mechanics rather than stocks. Just starting but made out a bit on TTD & FLSY so far.
FNGR is a great stock and the company actually has a bright future. My friend (a stockbroker) recommended that stock to me. As of today, it has around a 2.8 million shares short and the float is only 1 million shares. It should have squeezed a long time ago and I’m hoping it happens soon. There should be news of an uplisting to the NYSE or the Nasdaq in a week or so, and more deals will be announced as well (according to rumor), so hopefully those events cause the squeeze to happen.
Whenever you analyze these stocks, you assess its fundamentals and its stock dynamics, meaning what else is going on with the ownership of the stock that can move it (which can trump the fundamentals for a play on the stock itself).
Generally, more institutional and insider (management) ownership by actual buying (using their own money, not just stock options) typically means a greater likelihood of the company increasing in price (why else would insiders actively buy the stock if they felt the stock price wouldn’t go up).
Conversely, a stock with a high short interest (shorts bet on the stock going down) means the likelihood is that the stock will go down because hedge funds research the shit out of these stocks to find what their true value are.
However, hedge funds often get greedy and short too much where the number of days to cover their shorts leaves them vulnerable to being squeezed. Again, shorts need to buy back the shock they borrow; when shorts borrow a stock, they’re betting the stock is going to drop in price and they’ll be able to buy back the stock at a lower price and make the difference. But if buyers drive the price up without the shorts covering, they progressively lose more and more money. Imagine thousands of people on a message board (r/WallStreetBets on Reddit) ban together and buy a shitload of the stock. The shorts are essentially trapped because they don’t have the money to cover their shorts and they are now getting margin calls forcing them to cover or the shares will be bought back for them.
This can happen in GME, AMC, SPCE, etc, since a squeeze can be forced if the shorts don’t cover soon. The more time passes, the more likely a squeeze will happen. The reason why I’m excited is the collective buying power of WSB will likely force these things to happen rather than allow the shorts to slither out of it with their superior buying power.
My FNGR position is interesting because its largely not on WSB (but they’re starting to notice it now, including funds buying), but since the price has slowly crept up over the past 6 months, the shorts are trapped and need to cover their 2.8 million short position but the normal trading volume is around 30-40,000 shares per day. It would be difficult to cover without driving the price up like crazy, making it even more costly for them.
I like buying options because of the buying power of controlling a lot of shares for a fraction of the share price. The risk of losing all of your money is very high, but the return can also by very high because of that leverage. Each option contract (call or put) gives you the right to buy (call) 100 shares or sell (put) 100 shares in a stock at a certain price (the contract’s strike price).
I don’t recommend buying options unless you don’t mind risking the loss of all of your money invested in them. My mentality is that I’ll only hold them for a day or two and cut my losses or realize my gains. I am holding GME and AMC calls longer because I feel it’s going to swing up in the next day or two or early next week. But if things are not moving fast enough, I’ll sell and re-buy when I think things are about to move again. I’ve been burned many times, so I’m trying to be more cautious now.
GME, AMC, SPCE were all down today; FNGR was up again.
It's harrowing to hold during a substantial downturn, but if the theory that the shorts need to cover is true, these stocks will eventually turn around.
My GME and AMC options lost most of their value over the last couple of days; they can rebound quickly if we experience an upturn or they will expire worthless in 8 days (I bought Feb. 12 calls), so I'll likely sell them tomorrow and roll what I get out of them into other options further out. SPCE is appears to be a much stronger stock, hitting a 52 week high today before retreating.
maybe one of you take over the stock/money club....hadn't had a post in like two years...easier to keep track of what's going on...had some great success with it back in 2008 crash for some people...just take one or two good ideas to get people on their way and started
I still don’t understand the criteria for choosing successful option contracts... so I stay away. Had some friends who thought they knew... lost their ass.
with a small amount of time before expiring...you need some good volatility with an INKLING of which way it's going. there are people that are successful with it...same people are GOOD day traders
if AMC had a chance to trickle down under 3.5...I would start buying with the hopes of it going down to accumulate more...down at those levels, it's an option that won't expire...with all the extra shares outstanding (300m added to the 100m) and movie-going conditions...the squeeze opportunity still needs to be there
FNGR popped to 17 this morning with large volume. I think it's definitely going to squeeze; it's been a slow burn up for months now.
AMC didn't look that good today, GME looked a lot better but then fizzled, and SPCE was largely holding steady for the day. I still think they all have a chance of squeezing up in the near future.
