✨ Silver Shines as GameStop Traders Enter a Standoff

Good morning. Over the weekend, a surge of buyers looking for their next profits turned their eyes

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

Good morning. Over the weekend, a surge of buyers looking for their next profits turned their eyes on silver. With the stock market closed, instead of buying mining companies or futures contracts, they turned to the physical market. Many online sellers of physical bullion either sold out or started to restrict sales without an open market to best determine the spot price when demand was on the rise. The move is a partial release valve for the standoff between GameStop shorts and longs (shares dropped heavily yesterday, but on incredibly light volume, indicating most shareholders are holding). While many long-side owners are happy to hold their shares to spite the short-sellers, some have noted that the silver market is just as – if not more—manipulated than GameStop. Of course, some funds short the retailer are also long the metal, so a surge in silver may just provide a partial bailout. At some point, taking a profit will be more important than holding a trade. Now here's the rest of the news: Sponsored Content 5 Tech Stocks to Buy Immediately Eric Fry, one of America's top Investment Strategists, provides his latest report 5 Top Stocks for 2021. You can't afford to miss out on the once in a decade chance to buy after the recent dip in the markets. Download this hot-off-the-presses research report now. It's yours FREE. MARKETS DOW 30,212.37 +0.77% S&P 3,773.77 +1.60% NASDAQ 13,403.39 +2.55% *As of market close • Stocks surged higher on Monday, as traders weighed the impact of the GameStop saga. • Oil rallied 2.7 percent, closing at $53.62 per barrel. • Gold rose 0.7 percent, hitting $1,863 per ounce. Silver popped 8.3 percent to $29.15. • Cryptocurrencies traded mixed, with Bitcoin last trading at $33,788. Today's TOP TIPS This Finance Play May be the Biggest Beneficiary of Crypto and Retail Investing Trends Robinhood traders are livid at the platform's decision to cut off trading in popular trades over the past week. They're looking to take their money elsewhere, which could quickly undo the million new accounts that were created in the last month. If that's the case, there are only a few other brokerage firms that will allow full trading right now in every stock out there. But traders are also looking to get out of the system by buying cryptocurrency. » FULL STORY Insider Trading Report: Teledyne Technologies (TDY) Robert Mehrabian, Executive Chairman of Teledyne Technologies (TDY), recently bought 10,000 shares. The purchase increased his holdings by 6.3 percent, and came to a total cost of $3.66 million. This marks the first insider buy at the company in over three years. Insiders have generally been sellers of shares on a regular and ongoing basis, as is typical of a technology company. The insider sales include both directors and C-suite executives. » FULL STORY Unusual Options Activity: Ferroglobe PLC (GSM) Aluminum mining and production firm Ferroglobe PLC (GSM) has seen a large surge higher in shares in recent weeks, with the small-cap company more than doubling. At least one trader sees the trend continuing. That's based on the September 2021 $2.00 calls. With shares near $2.40, the trade is already well in-the-money. Over 3,900 contracts traded against a prior open interest of 104, for a 38-fold rise in volume. » FULL STORY IN OTHER NEWS • Robinhood Raises Another $2.4 Billion Over the Weekend Adding in the billion raised last week, that's $3.4 billion that the brokerage has raised to meet its obligations right now. While the company reported a massive spike in user growth in January, its decision to arbitrarily limit trading may lead to an exodus of subscribers later this month… and the capital raise now may limit the potential of the company's upcoming IPO. • The Labor Market Will Return to Normal Next Year The Congressional Budget Office states that GDP growth will recover rapidly, and that the monetary and fiscal response to the Covid pandemic likely reduced the severity of its economic impact last year. GDP is expected to return to a pre-pandemic size in mid-2021, and the labor force will be back to normal next year, in 2022. • Manufacturing Activity Dipped in January While the rate of activity dropped, the space still appears to be on a growth trajectory for the year, as based on the latest ISM data. That's about in line with how the economy fared in January, as some areas faced some stronger Covid lockdown measures compared to others. • Musk: Bitcoin on the Verge of Broad Acceptance In an interview on the social media app Clubhouse, the world's wealthiest man stated that he should have bought Bitcoin years ago, and that the cryptocurrency is on the verge of broad acceptance. Rumors have abounded in recent weeks that the billionaire may move some of his wealth to the cryptocurrency. • Usage-Based Models Will Drive Software Company Returns Software as a service (SaaS) companies have done well with a recurring revenue model. But many companies are starting to switch to a model based on usage, which will reward light users while costing more for those with heavier usage needs. S&P 500 MOVERS TOP IFF 15.812% SWKS 9.773% VIAC 7.897% XRX 8.718% QRVO 7.268% BOTTOM MAC 10.764% DCX 9.575% DD 7.942% LUMN 4.927% PVH 3.296% Quote of the Day It's a very different target, but the fact that you can move silver, such a large market, is an indication to everybody that they have to take these new technicals seriously. - Mohamed El-Erian, chief economic advisor for Allianz, on the move higher in silver and how retail traders can collectively move markets stronger than any hedge fund or other player short of a government. Sponsored Content 5 Tech Stocks to Buy Immediately Eric Fry, one of America's top Investment Strategists, provides his latest report 5 Top Stocks for 2021. You can't afford to miss out on the once in a decade chance to buy after the recent dip in the markets. Download this hot-off-the-presses research report now. It's yours FREE. Not sure the best way to get started? 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