Gamestop

[myohmyjustify]

Originally Posted by usfgeology

Trust me...we aren't. I'm sure some are, but they would be from the bulls, not bears.

We are degenerates, just like on this message board, but play with stocks not horses.

These guys (hedge funds) got caught breaking the rules. They shorted more than 100% of the stock of GME. That's a naked short and illegal. B/C this is what can happen, uncapped loses IF the free market is allowed to play out. Which it wasn't. Wall Street called in their favors and got all of the trading platforms to limit trading for retail investors (i.e. the little guy)...but not the big firms. The little guys were only allowed to SELL, not to buy and HOLD. This effectively capped the upside (screwing us again) and locking in the hedge fund losses (bailing them out again).

Blatant market manipulation on the side of the financial institutions.

Thanks for the reply. Well appreciated.

It just bothered me that the press kept to a single narrative, and then I read that a major hedge fund -- Janet Yellen's sugar daddy, Citadel -- is partially bailing out the Robinhood platform.

I personally would like to see all these hedge fund people go out of business but if they did, the taxpayer will be on the hook for their failure for sure.


Good luck down the road.

[PaceAdvantage]

Originally Posted by usfgeology

I've been a member of the WallStreetBets reddit group for a couple years. There were a couple thousand of us a few years ago and that number had grown to a couple million as of 2021. Unlike horse players - these guys post their actual bet slips. Six-figure wagers on margin calls are not uncommon on a daily basis. Collectively - there is a lot of firepower there. And fractional shares and non-commission trading has leveled the playing field somewhat. Small potato guys like me were able to get into the market with much smaller positions than what was possible even 5 years ago.

It does smell b/c you got a whiff of the reality of wall street.

Any talk of why this hasn't happened much before, if ever?

Why haven't other big firms, hedge funds, or deep pockets tried to move massive short positions + naked shorts off their positions before?

It seems easy to do if you have enough capital behind you.

Why did it take a large group of rogue retail traders to figure out this little secret to massive and quick profits?

[barahona44]

Originally Posted by PaceAdvantage

Like I've TOLD YOU ALL FOR YEARS, if you ONLY KNEW THE TRUTH about EVERYTHING THERE IS TO KNOW in this world of ours, you'd be sitting in the corner, in shock, with your blankey and a thumb in your mouth, crying out for mommy.
.

We already had that with the Trump supporters after Donny Bankruptcy lost.

[PaceAdvantage]

Originally Posted by barahona44

We already had that with the Trump supporters after Donny Bankruptcy lost.

You wish.

You must be referring to 2016...all the Hillary supporters lost their shit:

YouTube

just like all the ones who disappeared from here for months in 2016...

Meanwhile, in reality, here in 2020-2021, all the Trump supporters are still around...we haven't run away in shame...we aren't crippled with grief...

We're still here to address your inane comments and useless advice.

[PaceAdvantage]

PS. The woman above, if given the chance to fix the 2020 election, do you think she would have rejected the opportunity, or do you think she would have RELISHED taking part in the greatest rigging ever told?

Now imagine all the THOUSANDS of irrational anti-Trumpers like her....rigging the vote in any way they could...you KNOW they would ALL DO IT IN A HEARTBEAT.

That kind of insanity displayed above = ANYTHING GOES BABY!

IT'S ALL JUSTIFIED IF THE END RESULT = ELIMINATION OF SATAN!

[barahona44]

Originally Posted by PaceAdvantage

You wish.

You must be referring to 2016...all the Hillary supporters lost their shit:

https://www.youtube.com/watch?v=wDYNVH0U3cs

just like all the ones who disappeared from here for months in 2016...

Meanwhile, in reality, here in 2020-2021, all the Trump supporters are still around...we haven't run away in shame...we aren't crippled with grief...

We're still here to address your inane comments and useless advice.

You're right, instead of crying they assaulted over 130 law enforcement officers, murdering one.

A much more civilized reaction, eh boss?

[newtothegame]

Originally Posted by PaceAdvantage

I have...been saying the whole thing smells.

I find it hard to believe they have enough people with enough money to get on board all at once to drive a single stock up like that....

Imagine trying to get enough horseplayers together to move the odds like the computer guys do in the last flash?

Not a perfect analogy by any means...but it takes a LOT Of money to move these guys off their shorts like that.

If it were this EASY to do...don't you think it would have been done by other hedge funds?

Or do they operate by a thieves' code so to speak...they don't hurt each other...and if they do hurt each other, they have to make it look like the public has banded together on reddit to get the job done...LMAO

Wasn't just the people getting on board to drive it up....all those shorts had to start covering as well which even furthered the drive upward....

[myohmyjustify]

Daniel Drew is famously credited with an expression that describes the nature of short selling:


"He who sells what isn't his'n, must buy it back or go to pris'n."


Here's a wiki bio on Mr. Drew. Enjoy.

https://en.wikipedia.org/wiki/Daniel_Drew

[PaceAdvantage]

Originally Posted by barahona44

You're right, instead of crying they assaulted over 130 law enforcement officers, murdering one.

A much more civilized reaction, eh boss?

A miniscule blip on the historical radar screen of "riots" everywhere, if there ever was one.

With a crowd that size, we might have approached those numbers even WITHOUT a "riot."

Well, the media would have made sure of it, but that's another story altogether.

And besides, more then half of those who breached the Capitol that day were Antifa and other assorted agent provocateurs....prove me wrong.

You and democrats really should tone down the melodrama for a change. It would be a breath of fresh air.

[PaceAdvantage]

Originally Posted by newtothegame

Wasn't just the people getting on board to drive it up....all those shorts had to start covering as well which even furthered the drive upward....

Correct. Just read a report that only 8% of the shorts have covered in Gamestop...ponder that.

[tbwinner]

These reddit guys are not selling it seems. They really want to cream these shorts. A lot of misinformation on that Reddit board but I only glanced thru it.

Volume is a lot lower today and yesterday. Eventually people do realize GME is near worthless and going to crumble, these guys trading their stimulus checks will be left holding the bag.

Can GME do an offering to raise capital right now? Would be smart to offer say 1M shares at this ridiculous valuation.
Underwriters probably don't want to touch it?

[tbwinner]

I don't know the rules on insider trading, but if I was a C-suite exec I'd be looking for the door out...NOW!!! Retire early and run.

[PaceAdvantage]

Originally Posted by barahona44

You're right, instead of crying they assaulted over 130 law enforcement officers, murdering one.

Did they finally release a detailed cause of death for the officer who died?

I never did see a follow up. Last I read, they really didn't know how he died, and were "looking for video evidence." Plus his family said they didn't want his death to be politicized.

A lot of contradictory statements for someone who was clear-cut "murdered" as you put it...so...just asking what the final word was on his death, if there has been one.

Last I see is this:

https://www.lawofficer.com/family-of...-it-political/

Then there's this:

https://www.washingtonexaminer.com/n...ical-condition

Medical condition?

After the above two stories, it's been only media silence about his death.

Also, he was a Trump supporter.

So it's kind of ironic that the media is seriously hyping up the whole martyr thing...especially when it can't even tell us how he died.

All we know is he made it back to his Capitol Police station. Someone who was fatally injured by the rioters probably wouldn't have been able to do that...probably would have been on the ground somewhere waiting for an ambulance. We know that Ashli Babbitt never made it anywhere other than a few feet from where she was murdered. Yes...actually murdered...on video no less.

[newtothegame]

Originally Posted by PaceAdvantage

Correct. Just read a report that only 8% of the shorts have covered in Gamestop...ponder that.

I haven't seen those numbers but I am sure you have and I trust what you say that you've read.
Given the 8% number, I would think there are still huge swings to be had in GME.
Today alone it had a high of near 410, a low of 250 and a close in the neighborhood of 330. Thats some serious cheddar to be had or lost.....
And here I thought my trading in crypto's was insane lol......

[davew]

Originally Posted by PaceAdvantage

Correct. Just read a report that only 8% of the shorts have covered in Gamestop...ponder that.

so as long as they have the dollars in their account to cover a potential buy back they can hold their short for-ever?

there is speculation this has dropped the entire market as some shorter sellers liquidated their other holdings to get cash to cover their shorts.

I read on reddit someone mentioned if they can push GME up to $67K/share, they will bust wall street