Silver Miners ETF at 9 Year High as Redditors Change Strategies

We discuss the SIL Global Silver Miners ETF is challenging 9 year highs on the back of 2 good quarters of silver miner revenues. I expect this overall trend to continue as long as silver stays at $25 and higher.

Redditors appear to be abandoning the most shorted stocks, and moving over to the most illiquid small caps in a bid for more short term gains.

The strategy is dangerous, and highlights an issue with the Wallstreetbets approach to the market. Those that pile in last lose a lot of money, and pretty quickly.

Beware any momentum chasing trades in thinly traded, or vulnerable stocks. The first movers almost always win at the expense of everyone else.

Lastly, we discuss a paper smash in gold today that targeted $1791. This is a good level to purchase more physical, and look at your gold miner targets for possibly some additional shares.

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