Silver took an unexpected pump north on 2021-01-28. Loads of short-sellers were taken out.
Well part of the inside story is that bandwagons of 'robinhoods' on a certain social media platform, decided to conspire and pump it. They were the same groups of people who pumped GME.
They believe they are powerful based on the GME effect, and can do this sort of thing in other places. But there is a problem coming to them - it will test their power.
Silver is not GME. Silver is a very different market ruled by other very powerful forces, like the US Dollar. We shall watch this one to see if social media traders can really manipulate anything they think they can.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Well part of the inside story is that bandwagons of 'robinhoods' on a certain social media platform, decided to conspire and pump it. They were the same groups of people who pumped GME.
They believe they are powerful based on the GME effect, and can do this sort of thing in other places. But there is a problem coming to them - it will test their power.
Silver is not GME. Silver is a very different market ruled by other very powerful forces, like the US Dollar. We shall watch this one to see if social media traders can really manipulate anything they think they can.
Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
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They took a small bit out of me cuz I shorted this. So now I realise more this is a social media pump effect. If I'm right then Silver is likely to suffer a similar fate as GME.
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Pattern comparison
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Woooohoooo!!
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus youtu.be/NjTdvALChwk ]
