More fun and games in the silver market. (Note: During the week the international market is closed one hour a day. Just enough time for monkey shines.)
everything about him is just perfect. From the dropping memes in congressional testimony, to the headband and poster background in his zoom thing, to his chosen Reddit moniker to yt name to everything. If there isn’t a massive movie on this with that dude from Juno playing him I’m going to be really pissed off
It hits you hard in the face when you realize Michael Cera is 3 of your top 10 favorite movies. How does this happen.... In other news, remember about a month ago I had posted about people starting to get REALLY into NBA Topshots as some kind of weird alternative investment? There was also a bunch of mocking about how ridiculous it is. Well, I don't know if it's because of the rocket in Bitcoin price, but it's completely gone off the rails in terms of pricing. People are paying ungodly sums of money for some of the "cards". A couple stats for you: In the last 24hrs there have been $12 million dollars in sales of their moments. There's a marketplace fee for selling moments and the NBA gets a pretty generous cut of it. If this type of daily selling continues in the future, the NBA could be making close to $100 million a year in just transaction fees. This is with almost ZERO promotion from the NBA and it simply being run up by sports fans and degenerate gamblers.
The fascinating thing for me about this is the guy now has, almost literally, an army. This isn't just a twitter account delivering investment advice to a bunch of schmucks who may or may not invest, and may or may not panic sell when the stock takes a quick dip. The WSB guys are rabid, they would happily buy and hold stocks at his say-so. I have no idea what the laws are in this area. Obviously it's not illegal to publish research and stock recommendations, but he's under a lot of scrutiny. What's to stop him from publishing another GME-style research project and having 6 million WSB idiots from pumping the hell out of the stock?
There is a Canadian environmental company called GFL that bought /merged with a US waste company called Waste Industries. They had their IPO last year and not long after this analyst wrote a scathing report about their CEO and management basically being crooks, in with the mob, and cooking the books. In the report, he basically said "I am heavily invested in this, hoping my report makes the stock price dive." It did a little bit for a few days. It's up 215% since then, I think. My point is, he is a "real" analyst, who openly wrote that he expected his analysis to effect the price and that he would benefit. If that is legal, then surely what DFV is doing is okay.
Right, that's really what I'm thinking here. Of course it's legal to publish a legitimate analysis of a company. But usually people who make those predictions don't cause the stock price to rocket up 50x. Given his relative power in the WSB community, I think he will have to be very, very careful about his future predictions... but at the same time, it would be awfully tempting to profit off this power.
Silver COMEX options expire today. Yesterday silver rose 88 cents to $28.20. It's in the banks best interest that it not close above $28 today. So accordingly and conveniently, when the NY exchange opened silver got torpedoed down to $27.19. Right now it's climbed back to $27.70. The rest of the day will be interesting, but I'd bet it doesn't come close to $28 again. Meanwhile, if you want (And can find) silver....you're going to be paying at least $34. Nope, no manipulation in the silver market at all.
How about that? The banks suppressed silver to close at $27.75 and the bankers went home happy, crisis averted. The Asian markets opened a couple of hours ago and silver just rose back over $28, In a somewhat related question: I haven't traded in the market in about 10 years. I opened an account with TDA last Thursday and funded it from my checking account. I figured I'd have the money available on Friday. Nope. OK, well I'll I have it Monday. Nope, but the money was moved from my bank account. So it's got to be available today right? Nope. It still has a hold on it. Is this normal now? Up to a week to transfer funds and have them available? What pisses me off about all of this is I had my eyes on a silver miner. I figure if silver does what I think it might, it makes sense to throw some money at the mines. While I've been waiting for TDA to let me use my money, the miner I had my eye of rose 60%. Son. Of. A. Bitch.
Ha. Not out yet. TONS of volume before the close... I think there are some serious players trying to lay the boots to the hedge fund shorts now.