Is silver is supposedly the next Reddit day trading target?
I have always thought silver would be a target someday according to some YouTubers that I follow.
(source) https://stockcharts.com/h-sc/ui?s=AG
I don't own any First Majestic silver stock but I like to follow the company because I like the management team and the sector. Yesterday I was wondering which stocks would be targeted by the Robinhood crowd. I had a feeling that silver stocks could be a great target for these guys. If they could buy silver stocks and more importantly Ishares silver trust and the likes it could be huge!
When I got home to my newsfeed I saw this on Yahoo finance, an article from Bloomberg!
Yvonne Yue Li and Joe Deaux Thu, January 28, 2021, 12:09 PM (Bloomberg) -- Reddit investors have discovered silver, with everything from silver miners, silver ETFs and the actual price of the physical metal itself soaring on Thursday.
The first signs came late Wednesday, when comments appeared on internet chatroom r/wallstreetbets, the same investor board that started the wild short squeeze in Gamestop Corp. and other companies. The comments centered on iShares Silver Trust, the biggest exchange-traded instrument backed by the metal, calling it “THE BIGGEST SHORT SQUEEZE IN THE WORLD,” and citing banks manipulating gold and silver prices. https://www.yahoo.com/finance/news/silver-latest-market-hit-reddit-151147282.html)
This made me smile after a busy day at work. If you follow my blog you know I have a very large position in silver and gold. After watching Bitcoin take all of the precious metal shine in the last year it's about damn time they get noticed for how manipulated they have been!
When they said the biggest short squeeze in the world I knew this would be a good day. (Cheers)
Thank you for reading my blog and have a great day!
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