First off, if you are long GME this is not a post to tell you to sell GME.
GME sequence of events (yes the game was rigged we retail traders got screwed):
GME is way over shorted > brokers allowed this > squeeze happens, hedge fund lose tons of money and face insolvency > Citadel gives $3 billion to Melvin Capital, despite the fact they are supposed to be a neutral market maker > price keeps surging > Melvin faces insolvency and will lose Citadel's investment, Citadel is no longer a neutral player > clearinghouses get leaned on by powerful suits to raise margin requirements on GME > brokers will have to make up the losses of the shorts they allowed to occur > they decide to save their own skin at the expense of their clients and rig the trade > instead of going to thousands per share as IBKR ceo admitted it would have, retail is robbed of billions in gains
Now on to the silver post
This is a very long post, so I apologize to the WSB apes who can barely read and will have to scroll a long way to get to the TLDR. Its also been impossible to post about silver lately on WSB (no posts approved, thanks to the mod who assisted this one), so I crammed about 3-4 posts worth into this one. Not sure when I'll be allowed to post again.
I've organized this post into 4 sections so feel free to skip around to the parts you are interested in.
- The silver short squeeze evidence
- Why the 'hedge funds are pushing silver' narrative is BS
- The fundamental case for silver, and why the shorts deserve to be squeezed
- TLDR, what to buy if you want to go long silver
Since my initial post on the potential for a silver short squeeze, I have been researching the topic to prepare a more detailed and substantiated update post. This is my latest attempt to post, and hopefully this one gets to stay up (silver censorship has been a thing here lately)
1. The potential for a short squeeze (573% of the 'float' is currently sold short)
The big thing to remember here is that if enough market participants who are long silver contracts in the futures market begin to demand delivery of their silver, there will absolutely be a meltup in the price because there simply isn't enough supply available.
**The next 3 trading days are critical, and there is war being waged. The shorts and COMEX are in a fight for their lives, and barely hanging on
... keep reading on reddit ➡
Why YSK:
Times are tough, dudes, and we all need some help sometimes. When you're in a place where you can't afford therapy, or need a little extra support between therapy appointments, mental health apps can help fill those gaps.
Not all mental health apps are legit, though, and outside of the most popular paid apps (e.g. Headspace & Calm), it can be hard to find something that's actually shown to be effective.
The VA has developed a bunch of mental health apps that are free to the general public. Some were designed with veterans as the target audience, but some were designed to be used by anyone.
Some highlights are:
Mindfulness Coach, which offers a self-guided mindfulness course and some recorded mindfulness exercises similar to what you can find on Headspace
Insomnia Coach, which walks you through a treatment program for insomnia and has features like guided imagery recordings
MOVE Coach which can help with weight loss and exercise in a guided program
---
If you don't end up finding one you like through the VA, I highly recommend you check out One Mind PsyberGuide, which is a nonprofit site that has experts review mental health apps based on their credibility, effectiveness, and privacy settings. There's some wonderful potential as far as apps go, but you don't want to waste your time on something that doesn't work or sells your private info.
Be well, friends!
Edit:
I wanted to update this to compile some of the excellent other resources people have mentioned in the comments. Thank you so much to everyone who's making suggestions, this is becoming a really informative collection of info! And thanks for the awards, it's very kind of you all.
First of all, as u/ron-swonson shared, some public libraries are offering free subscriptions to some apps. Go to your local library's site to see if they are offering anything!
Some insurance companies are also offering free subscriptions like Kaiser Permanente-- thanks u/FrankU_MajorityHwip and u/lipstick_junkiej!
Some of the most common suggestions are as follows. I don't know much about many
... keep reading on reddit ➡Long post ahead, but I encourage you to read the whole thing. (This is a re-post and an updated version of a GME DD that reached the front page of WSB and many requested it to be pinned. I am re-posting for visibility and because I believe the message should be shared, particularly at this junction in time. If you've seen this post before, I would appreciate an upvote for visibility)
TLDR: Data points strongly point to Hedge Funds using tricks to appear as if they covered their shorts when they haven't truly covered, specifically an illegal method/loophole to "cover" their shorts with synthetic long shares generated from the use of options. Full details below.
There’s an insightful piece on TradeSmithDaily that identifies two ways for both short interest and price to fall quickly.
The first scenario is from retail investors not holding the line and panic selling, driving the price down further, releasing into the market more of the float and enabling shorts to cover/buy back shares at progressively lower levels.
**
From TradeSmithDaily:
Plummeting short interest along with a plummeting GME share price, in other words, could indicate that the Reddit army is headed for the hills, and the longs were selling early, giving the shorts a means to cover, as the longs got out… Important to note that if the long holders of GME shares did not break ranks and sell en masse, it would have been impossible for the share price to fall and hedge fund short interest to fall at the same time. because, without a critical mass of long-side holders selling into the market, the hedge funds covering their shorts would have nobody to buy from as they covered (bought back) their short positions.
**
The second scenario is where hedge fund short interest in GME didn’t really dissipate but instead they played a trick to make it seem like it did, demoralizing the retail side and further “breaking the squeeze.”
**
From TradeSmithDaily:
The way the hedge funds could have done this — made it appear as if they covered their shorts, even when they really didn’t — involves trickery in the options market.
The tactics involved are not a secret. In fact, the Securities and Exchange Commission (SEC) knows all about such tactics, and published a “risk alert” memo on the topic in August 2013.
The SEC memo is titled “Strengthening Practices
... keep reading on reddit ➡So this is a tad unusual for the sub, but I do think it qualifies as an unresolved mystery! Crosspost from /r/HobbyDrama.
I'm sure most of you have heard of the Pokemon trading card game (TCG). Many TCG fans don’t actually play the card game. Rather, they aim to collect rare cards and amass impressive collections. While TCG players might hunt for the most powerful cards, TCG collectors hunt for the rarest. Why? Don't ask me.
Anyone who dabbles in collector spaces would know that there are a few rare items elevated to legendary status in every collecting medium. I suspect that many of you have heard of the first edition holo Charizard, a card so desirable that it has entered mainstream consciousness. Those of you who are more involved in Pokemon affairs may also know that the Pikachu Illustrator is a card even rarer than Charizard. Other uber-rare cards include Trainers No1 through No3 and the Master Key.
However, these cards all pale in comparison to the big grandaddy of them all: alternately described as the Bigfoot or the Holy Grail of the hobby, the Pre-Release Raichu. This is a normal Raichu base set 14 card. It isn’t worth the paper it’s printed on. This is exactly the same card with “PRERELASE” stamped on the bottom-right corner of the art. It is legendary.
#The Legend of Pre-Release Raichu
Before I get into the drama of whether Pre-Release Raichu even exists (usually shortened to PR Raichu or Prechu for brevity), you need to know its story. Trading cards are produced in sheets, which are then cut into individual cards. The legend of Prechu is as follows: A sheet of mainly pre-release Clefairy cards, which were intended to be stamped with a PRERELEASE stamp, were printed on the same sheet as a run of 8-11 Raichu cards (the exact number varies depending on who you ask). However, there was an error in stamping, and the Raichu cards also received the stamp. The managers noticed and corrected the error in the next run, but what to do with the misprinted Raichu cards? According to legend, they were divided among the staff and taken home. At the time, the Pokemon TCG was being printed by Wizards of the Coast (WOTC), whom you may have heard of from Magic: The Gathering.
What began as a simple urban legend blew into epic proportions as TCG fans real
... keep reading on reddit ➡I wasn’t educated on this beforehand so I decided to do a quick google search.
It read....
“Despite many expeditions, no physical proof of Noah's Ark has been found. Many of the supposed findings and methods are regarded as pseudoscience and pseudoarchaeology by geologists and archaeologists”
Yep. No words. Who’s going to tell the christians this is not evidence?
And I’m pretty sure evangelical christians are nut cases.
Per guides.loc.gov:
"The 116th Congress convened on January 3, 2019, and will run through January of 2021. It is currently the most diverse Congress in history, with 128 non-white Members and 131 women. The average age of Members of the House at the beginning of the 116th Congress was 57.6 years; of Senators, 62.9 years. "
These people have no idea how technology or the markets work and are completely out of touch.
EDIT: Thanks for the gold and other awards kind autists B)
Long post ahead, but I encourage you to read the whole thing. (This is a re-post, if you previously saw this I would appreciate an upvote for visibility. The previous post got a lot of traction but was removed a mod. I spoke to a mod on the team after and he kindly agreed to approve a re-post.)
TLDR: Data points strongly point to Hedge Funds using tricks to appear as if they covered their shorts when they haven't truly covered, using an illegal method/loophole to "cover" their shorts with synthetic long shares generated from the use of options. Full version below.
There’s an insightful piece on TradeSmithDaily that identifies two ways for both short interest and price to fall quickly.
The first scenario is from retail investors not holding the line and panic selling, driving the price down further, releasing into the market more of the float and enabling shorts to cover/buy back shares at progressively lower levels.
**
From TradeSmithDaily:
Plummeting short interest along with a plummeting GME share price, in other words, could indicate that the Reddit army is headed for the hills, and the longs were selling early, giving the shorts a means to cover, as the longs got out… Important to note that if the long holders of GME shares did not break ranks and sell en masse, it would have been impossible for the share price to fall and hedge fund short interest to fall at the same time. because, without a critical mass of long-side holders selling into the market, the hedge funds covering their shorts would have nobody to buy from as they covered (bought back) their short positions.
**
The second scenario is where hedge fund short interest in GME didn’t really dissipate but instead they played a trick to make it seem like it did, demoralizing the retail side and further “breaking the squeeze.”
**
From TradeSmithDaily:
The way the hedge funds could have done this — made it appear as if they covered their shorts, even when they really didn’t — involves trickery in the options market.
The tactics involved are not a secret. In fact, the Securities and Exchange Commission (SEC) knows all about such tactics, and published a “risk alert” memo on the topic in August 2013.
The SEC memo is titled “Strengthening Practices for Preventing and Detecting Illegal Options Trading Used to Reset Reg SHO Close-out Obligations.” You
... keep reading on reddit ➡