Trading is hard enough, but when there are new restrictions on certain stocks and overloaded brokers that don't function, it is nearly impossible.
Several brokers are limiting the ability to initiate trades in some of the 'short squeeze' names like (GME) and (AMC) . Several other brokers such as Charles Schwab (SCHW) are practically frozen and unable to execute any trades.
Those issues make the fact that the indices are bouncing back nicely this morning on 5-2 positive breadth a secondary consideration. While there is still quite a bit of retail focus on short squeeze names, the stocks have lost some of their upside momentum and traders are scrambling to find something new.
One focus of retail traders this morning is silver miners. Silver has had a reputation as a market that can be easily manipulated, dating back to when the Hunt Brothers tried to corner in back in the 1970s. The thinking of the retail mob is that this may be another sector that they can push higher.
iShares Silver Trust ETF (SLV) is up 5.2%, and many of the silver miners like First Majestic (AG) are trading even stronger with gains of more than 25%. Unlike some of the short squeeze targets, there are good fundamentals in stocks like AG, and I'm more inclined to try to trade them rather than gamble on AMC, etc.
Due to broker issues, I'm unable to do much so far this morning, but I have added a couple of things like Sangamo (SGMO) and Snap (SNAP) .
I'm extremely frustrated with these technical issues, and it costs me both financially and emotionally.
