They're not going against simpleton hedge funds this time. Apparently JPM have removed all short positions and the more inexperienced hands are left to suffer. Reading through the WSB forum is fascinating as it's evidently not about value investing nor protecting against a dollar insolvency, however inadvertently they're doing that. It looks like a developing ideology based on resentment of the wealth transfer the poor have awakened to. Irony is: they're using government stimulus to pull it off, and so they can. It's going to aggravate someone. I looked at the 'L' shape GME chart and realised this is reversing the "rich-poor divide" for thousands of probably impoverished youths (and some wealthier traders who say they're buying 100k a trade). Well done USA - for the first time in many years I am proud of their broader population.
WEB & TGR went up yesterday. My uneducated guess is it's the same shenanigans, but I won't be betting my money when there's a perfectly rational case for silver and its miners to sustain momentum. Looking forward to how silver miners perform on the ASX today. I'm crying rivers for those who sold out yesterday, or better yet, shorted.
SVL Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
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