Quick post to let you know what’s going on and what I’ll be doing for the week. I’ve been posting a lot of Gamestop, so I’m a little tired of that. Would like to give myself and readers a break. So likely the last post on this subject for a while, at least till something serious happens again.
There is something odd when all the major media outlets are reporting that wallstreetbets is now going after silver. I visit that forum multiple times in a day, and have not seen any posts relating to silver before seeing it on CNBC.
The conspiracy theory is that the hedge funds are going all out to distract and demonise the reddit army. The silver story is to tempt redditors to deploy their cash elsewhere, while simultaneously slamming them as a mob. While I would resist conspiracy theories, I think that this is the case this time. The media and finance industry is employing all sorts of dirty tricks to get people to sell their shares.
I admit that I’m tempted to sell too. I’ve been conditioned to listen to the news, and take it as the gospel truth. I’m classically trained in finance, so its not natural to take a forum’s word over the professionals. But I will hold onto my GME and AMC stock as long as I can.
Will be selling some of my AAA securities like Amazon and the S&P 500 ETF, to deploy funds in some of the smaller caps. Probably this week. What has been lost in the Gamestop mania is that there has been a mini correction. Many good companies like AMD and Apple are down, even after both of them reported blockbuster earnings.
Besides expanding existing holdings, I’m also looking at Telos, which is a government cybersecurity firm. A quiet holding, though it has doubled since it IPO-ed late 2020.
And no, I’m not buying silver. Not into heavy pieces of metal.