Reddit Is Trying to Fuel The Biggest Short Squeeze In The World…On Silver

From the Maven Letter: January 31st, 2021

Oh my silver. There is so much to say about everything going on with Reddit and Robinhood and volatility and market tops and and and…but I will save most of that for Wednesday and keep my comments to silver.

What’s going to happen? Silver price fireworks are a real possibility – but are not guaranteed.

Background: the Reddit crowd that pushed GameStop through the roof to (1) show hedge funds with publicly proclaimed shorts that retail has the power to stop their elitist and money-grubbing attacks on certain stocks or (2) make a pile of cash by getting oodles of retail to just pile into one stock or (3) some combination of the two have now shifted their focus to silver.

It started on Thursday and Friday last week. It made sense in that silver is a reasonably small market and one rife with shorters. In fact, the Reddit crowd turned to silver because its immense shorting market offers potential to create, as the thread declares, “the biggest short squeeze in the world $SLV Silver $25 to $1000.”

Moving the price of silver was actually a second thought.