Hey everyone,
Here is the article: https://www.zerohedge.com/markets/chinas-economy-suddenly-disintegrates-land-sales-crater-90
He summed things up nicely at the end: "Bottom line: Beijing is facing an economy whose wheels have suddenly come off, and unless China's political elite is willing to unleash another massive monetary and fiscal tsunami and bail out the economy all over again - something Beijing has repeatedly vowed it won't do this time - a hard landing, whether or not accompanied by a Volcker Moment, is virtually guaranteed."
I'm sure all the pedes here will have much to discuss about this.
You guys are right about gold and silver, but you are going to get killed with GME. The short squeeze days are over. Only 13.4% of the float is shorted now. Compare that to when the squeeze took place....over 100% was shorted. It's either going to be a slow bleed or a sudden collapse. Either way, you are going to lose money on GME.
https://finviz.com/quote.ashx?t=gme
Reported short interest data is not accurate. FINRA data shows that institutions own 66.9 million shares of GME. The float is only 63.5 million. That number doesn't include retail investors, home offices, or whales that are long the stock. https://finra-markets.morningstar.com/MarketData/EquityOptions/detail.jsp?query=126:0P000002CH click on shareholders then scroll down to Equity Ownership and click on Institutions. It's not just GME in a short squeeze situation. Institutions own 176.31% of Bed Bath & Beyond BBBY. This is only possible if there is fake synthetic counterfeit shares in circulation. M, XRT, OSTK, MSTR, LULU and PETS are in a similar potential short squeeze situation. When margin calls happen and these stocks start rocketing it could bring down the whole market 1987 style. r/superstonk on reddit has some excellent DD worth reading.
Not financial advice.
All these stocks that are over shorted are the same stocks that the hedge funds and market makers thought were going to go under during the pandemic shutdowns. They got greedy and are now in a place where they cannot get back from. Better Buckle Up!
HODL
"Only 13.4%" is seriously the funniest thing I've read all day, lol. Talk about your fake news...
The hard-to-borrow fee is only 0.4%. Some stocks that are heavily shorted can rise to 200% or more. If there were truly not many shares to short, these fees would be higher.
Then you'll surely take advantage of that bargain and short a bunch yourself, right? Practice what you preach.