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01-28-2021, 04:12 PM
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#1
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Just Deplorable
Join Date: Mar 2003
Location: Lebanon, Ohio
Posts: 8,064
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Gamestop
I have nothing much to start a thread, but I know some of you must have some thoughts on this. I have no market experience, but my usual go-to links suggest it's a populist uprising against Wall St without pooping on police cars.
Am I wrong to side with the little guys (as usual)?
I would never have seen Gamestop as a center of controversy, of all things, I have to admit.
Last edited by rastajenk; 01-28-2021 at 04:13 PM.
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01-28-2021, 04:15 PM
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#2
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Registered User
Join Date: May 2011
Posts: 22,632
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it is a war against the market manipulators and stock market shorters by playing their own game against them.
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01-28-2021, 04:18 PM
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#3
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Registered User
Join Date: Jan 2006
Posts: 28,548
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Isn't this what the hedge funds have been doing all along? Why the outrage now?
__________________
Live to play another day.
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01-28-2021, 04:35 PM
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#4
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Veteran
Join Date: Dec 2003
Posts: 7,139
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Quote:
Originally Posted by thaskalos
Isn't this what the hedge funds have been doing all along? Why the outrage now?
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Because some hedge fund managers got a taste of their own medicine to the tune of $5B.
https://markets.businessinsider.com/...1-1-1030016596
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01-28-2021, 10:27 PM
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#5
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Buckle Up
Join Date: Apr 2014
Posts: 10,614
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David Portnoy of Barstool DESTROYS Robinhood for CHEATING
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01-28-2021, 10:34 PM
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#6
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Registered User
Join Date: May 2011
Posts: 22,632
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It was not just Robinhood, but also Ameritrade, Schwab, Interactive Brokers, TastyWorks....
and they did it because their clearing house(s) told them they must.
tomorrow will be interesting because many expirations expire and even people that put in option spreads were unable to liquidate because one side involved would be a buy.
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01-28-2021, 11:12 PM
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#7
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,543
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Everything is exposed for the shitbag that it is.
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.
And what we've seen lately over the past year or so is just a teeny, tiny little glimpse into the disgusting, seedy, immoral underbelly of this planet we live on.
Where they DO change the rules MID-GAME when the wrong people are losing.
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01-29-2021, 01:26 AM
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#8
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Bombardier
Join Date: Sep 2003
Posts: 4,039
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Quote:
Originally Posted by PaceAdvantage
Everything is exposed for the shitbag that it is.
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.
And what we've seen lately over the past year or so is just a teeny, tiny little glimpse into the disgusting, seedy, immoral underbelly of this planet we live on.
Where they DO change the rules MID-GAME when the wrong people are losing.
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That is pretty much spot on.
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They don't think it be like it is, but it do. ~O.Gamble
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01-29-2021, 01:28 AM
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#9
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,543
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Tucker's got something to say about everything....
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01-29-2021, 07:53 AM
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#10
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clean money
Join Date: Sep 2006
Location: Maryland
Posts: 23,558
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Quote:
Originally Posted by rastajenk
I have nothing much to start a thread, but I know some of you must have some thoughts on this. I have no market experience, but my usual go-to links suggest it's a populist uprising against Wall St without pooping on police cars.
Am I wrong to side with the little guys (as usual)?
I would never have seen Gamestop as a center of controversy, of all things, I have to admit.
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You guys gotta remember The Golden Rule, c'mon
__________________
Preparation. Discipline. Patience. Decisiveness.
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01-29-2021, 10:52 AM
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#11
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Registered User
Join Date: May 2020
Location: New Jersey
Posts: 1,086
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The narrative these past few days has been the Reddit guys sticking it to the big and bad Wall Street hedge fund guys.
Has anyone given any thought to the possibility that the Reddit guys are (actually) being financed by the very same hedge fund type operators?
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01-29-2021, 10:58 AM
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#12
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,543
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Quote:
Originally Posted by myohmyjustify
The narrative these past few days has been the Reddit guys sticking it to the big and bad Wall Street hedge fund guys.
Has anyone given any thought to the possibility that the Reddit guys are (actually) being financed by the very same hedge fund type operators?
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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
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01-29-2021, 11:17 AM
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#13
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Son O'War
Join Date: Feb 2003
Location: Bettorthaneverstreet, Boston
Posts: 7,211
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__________________
...as I lied down last night and looked up at the moon and stars, I said to myself, where the hell did my ceiling go
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01-29-2021, 01:03 PM
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#14
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Registered User
Join Date: Feb 2017
Location: Tampa Bay
Posts: 1,100
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Quote:
Originally Posted by myohmyjustify
The narrative these past few days has been the Reddit guys sticking it to the big and bad Wall Street hedge fund guys.
Has anyone given any thought to the possibility that the Reddit guys are (actually) being financed by the very same hedge fund type operators?
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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.
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01-29-2021, 01:14 PM
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#15
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Registered User
Join Date: Feb 2017
Location: Tampa Bay
Posts: 1,100
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Quote:
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
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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.
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