In the last three trading sessions, silver has moved $5.00 from low to high. Some precious metal dealers are reporting no inventory available, they are out of silver. Plenty of talk remembering the Hunt brothers cornering the silver market sending it to $50.00 an ounce. The current situation is very different, you have an army of buyers from Wallstreetbets and Reddit coming together collectively to give hedge funds a little taste of their own medicine.
This actually has the potential to make the Hunt brothers look like a high school marching band.
The overwhelming power of the internet now focussing on finance.
IMG mentioned last week Gamestock mania which these groups pushed up to a 1700% gain since the beginning of January. Millions of new subscribers joined WSB last couple of days with millions more expected to join next week.
The group absolutely has the collective funds to move a market, any market with a large short position is a target, silver has arguably the largest short position of any market.
Hedge funds have practiced unfair behavior for years with an advantage over the little guy, but for now the little guy is eating the sharks. We are at a tipping point, with over 1 billion pageviews last week in these forums this could be just the beginning of what’s to come.
The paper shorts in silver are much larger than available silver for delivery.If further pressure is applied forcing a portion of the massive short positions to cover, the buying back of contracts would drive the price of silver much higher from current levels.
The small investors are having their day in the sun, crushing some hedge funds and for now going after some of the big banks like JP Morgan clearly in their sights. WallStreetBets group has proven that if there’s enough buying, they can and will force these short sellers out…!!!
Currently silver is the group’s main focus…!!!
Remarkable times to be in the market…!!!
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