It seems like this week will be all about Silver, as a second coordinated attempt at a #silversqueeze is currently taking the internet by storm.
Here's a quick recap of the first #silversqueeze:
In late January - early February, retail investors, encouraged by comments on Reddit, piled into the market in an attempt to push up the price of silver. The demand was so high that almost $1 billion flowed into silver-backed ETFs in a single day.
This time though, the squeeze will directly target COMEX and physical silver with a plan to get 100,000 people to buy 100 ounces of silver each in a single day.
Reddit’s Wall Street Silver forum has even set a date for their “round 2” of the #Silversqueeze: Saturday, May 1.
Why May 1, 2021?
Because it’s the 10 years “anniversary” of the monumental silver sell-off (or manipulation, depending on how you see it) that occurred back in 2011.
Some silver fans have already started stocking up on the physical precious metal early, and are posting pictures on the Wall Street Silver subreddit.
So if you don’t have any plans for the weekend, you can always tune in on Reddit and follow the squeeze. 🍿
