i just wonder if in a couple days we will find out the lead wsb guy really sold out of his shares last week.
lol.
then again if you cashed out 13 million so far what's the harm in losing 30 million you still have in?
i just wonder if in a couple days we will find out the lead wsb guy really sold out of his shares last week.
lol.
then again if you cashed out 13 million so far what's the harm in losing 30 million you still have in?
Buh Byeeeeeeeeeeee !!
I've read some things in the WSB reddit page, that are alarming.
Yes, i'm sure there are plenty of whales that are playing with free money. Just YOLO'ing around in case of the small chance of a spike they can profit from. Will not be phased if they lose whatever they've "invested".
The bad part, is you can tell there are some suckers and otherwise clueless people doing the same thing, who are betting their college tuitions and savings on the same thing. They are going to get burned when this is over and learn a tough life lesson (they'll end up on gofundme i'm sure).
Lowkey I just want a news article about the hedge fund manager that shorted the stock when it was at 400
The person that managed to beat the collective intelligence of the internet!
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The most horrible part of this entire thing was about how this was portrayed as a david vs goliath type of thing or how the hedge funds will suffer and everyone will profit out of it with selling at 1000$. The truth is that it was a pump and dump the moment Melvin announced they were covering
AOC and their lot that cheered on this should be ashamed but by next week they will prob come with some other shitty narrative or just dont mention this at all
Folly and fakery have always been with us... but it has never before been as dangerous as it is now, never in history have we been able to afford it less. - Isaac Asimov
Every damn thing you do in this life, you pay for. - Edith Piaf
The party told you to reject the evidence of your eyes and ears. It was their final, most essential command. - Orwell
No amount of belief makes something a fact. - James Randi
They sold people on virtue signaling with their money. What most of them got, is billionaires with a lot of influence in government, are now screaming how people just tossed their stimulus to virtue signal. Having talking heads in media pointing at the stimulus, while talking about how this is a wasteful endeavor... is not a good look while another stimulus is being passed.
Good on people who got out in time... everyone else, you just bought an important lesson. Everyone wins?
Folly and fakery have always been with us... but it has never before been as dangerous as it is now, never in history have we been able to afford it less. - Isaac Asimov
Every damn thing you do in this life, you pay for. - Edith Piaf
The party told you to reject the evidence of your eyes and ears. It was their final, most essential command. - Orwell
No amount of belief makes something a fact. - James Randi
by "lead" i mean the guy who was in the lead from the start who kind of started the whole thing even though there's been more than enough proof that it was actually some wall street newsletter guy who really started the whole charge a week or so before WSB even got a hold of the information.
Also this Deepfucking guy, has there been any actual proof that he owns and traded like that for real? To keep doubling down on options like that?
I know he posted screen shots and all but you could do that from a play trade app as well.
he prob did make the money but it would be interesting.
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the rate at which its going they will be lucky to get out at 50 before they learn their lessons
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The sad part is the guy who was the "face" of the whole GME thing showed everyone how to do it, even the part where you take out your profits and play with the "house" money.
Based on his screen shots he had 13 million in cash. Apparently showing he bailed on a lot of his options and took the profit.
But people in WSB "if he's in i am in", "let it ride", "to the moon", "buying more on the dip"...etc etc.
I've been victim to this as well. I've had my share of stocks i have stayed waaaaaaaaaaaaaaaay too long in denying the inevitable loss on the company that was just not going to come back or do better.
There were bunches of average joe's that made some good change. Some had life changing wins. But its the stock market there is always law of equivalent exchange someone had to lose their brother to a large tin can and someone had to lose a leg/arm
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LOL you know its over when you no longer get "stickied" on wsb for a mark cuban AMA
GME thread for 2/2/21
Daily Discussion
This isn’t going to be stickied since we have the Mark Cuban AMA coming up this morning (and we can only have two stickied threads at a time.)
Enjoy.
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Oh i am sure there were some, just won't be at the volume of how many shorted it at 20.
The information will come out when you see a bunch of hedge funds up insane amounts for the month of feb.
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The real outcome here is....my guess:
1- A bunch of pomp in congress with some hearings and no real regulatory changes. If anything they come up with more rules relative to hedge funds that really don't do anything and some guidelines on "chat rooms" like wsb.
2- Robinhood suffers for a while while this blows over. Could cause a bigger entity to swoop in and buy them out, dissolve their name and keep going. The people who are complaining the most were new customers trying to get in on the craze not exactly the people who were going to make them a lot of money anyway.
2.5- Hedge fund failures, most survive: Well shit, this happens 10+ times a month, 200 times a year anyway. $200 billion lost last year in aggregate between them all with a great stock market. Battle won, War lost.
2.75- Billionaire's and multimillionaire's who were the primary target: Still billionaire's. Cohen still owns the Mets and 14 billion dollars. Melvin bro will still be rich, is still buying his neighbors multimillion dollar house to make his 45 million dollar house bigger.
3- Free trade platforms suffer. The bad press, the bad business model, the lack of hard oversight on how they make money, capital requirements hard to achieve which makes huge risk of failure. They get the broad side of the regulatory smack. Increased capital requirements, clamp down on how they make money on the back end, a total ban on them not giving traders best price kills the business model and these "free" platforms disappear.
There is more but i have to go back to work for a double shift because of the snow. Cya later for the sub 50 dollar trade this afternoon
P.S AMC is doing even worse than GME. People who didn't stay in GME rolled over into the "next target" and have suffered from 20 > 7.91
Buh Byeeeeeeeeeeee !!
Zan15 I hate you for drawing my attention to wallstreetbets
The entire thread is is just sad
https://www.reddit.com/r/wallstreetb...ef_source=link
Sorry i know i had to stop reading it last night it was sad the amount of loss and people just being ignorant and not at least cashing out some of their profits.
Now the front page is about 50 conspiracies on why it went down so fast, except the real reason.
They are still blaming Melvin a week after he closed all positions.
Would be a crazy ending to the story if Melvin went back in hard at 400+ short and drove the stock down making back all his loss :P
But you know people in the last 4 years were taught by the orange man. Why accept responsibility/blame/reality when you can blame it on a conspiracy and the fake news!
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The good news is volitility on the rest of the market is way down.
They are less panic'ed now this GME thing is going to rattle the market in any serious way.
Back to normal trades and performances!!! LOL i am up from 42 ish, but still down from peak of 69.90.
;l)
Citigroup Inc
C
Last | 10:18 AM EST
60.15
quote price arrow up+1.72 (+2.94%)
Buh Byeeeeeeeeeeee !!
Wisest investment this week will probably be to dump cash in all of the typical index companies. They will all see some decent gains as the market rebounds from WSB Sucker Frenzy. Not "get rich quick scheme" gains, but good gains.
So...
Hedge funds took a bit of a hit, nothing outside the normal losses.
Early WSB folks look like they made a fuckin killing off everyone else following them. Hey, they could afford spending money on Time Square billboards, sending it right back to the wealthy hedge-fund class they were supposed to be stealing from.
Late WSB folks are either selling for losses, or consoling themselves by saying they'll hold their worthless shares just to keep the hedge funds from winning...despite the fact that it's nonsense.
Silver is whatever and who knows what's going on with that.
The chatter has already died down and by next month, unless there's a Congressional hearing, we probably won't hear about this much anymore.
So...pretty much all the "Hedge fund shill/hater" predictions seem to be coming true, and pretty much none of the WSB meme noble narrative is reality?
Or am I missing something? Because that's sure what it looks like. Looks like a bunch of idiots got hosed by a bunch of smarter people, all for the memes.
Not sure why anyone would want to dog pile on silver. Unlike Gamestop stock, people have Silver coins and whatnot lying around after Grandma died. When it goes up, it tends to attract sellers with actually physical silver which drives the price back down.
Yeah, I started out feeling bad for people caught up in the hype. But if they haven't pulled out by now and are repeating stupid memes about holding then they deserve to lose whatever they put in. I don't care what the justification for trying to hold is, this is nothing more than a pump and dump scheme at this point.
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Not at all sexy or meme worthy, but easily the wisest call.
- Christopher HitchensPopulists (and "national socialists") look at the supposedly secret deals that run the world "behind the scenes". Child's play. Except that childishness is sinister in adults.
So from what I gather, this was pretty much just a ploy by financial organization because they're well invested in metals. WSB was heavily anti-silver because it's not a "betting" commodity. But Wall Street basically showed that old school tricks still out-play retail investors, by taking one from Cramer's book: they told the media that Reddit was going for silver next, and the media went wild with it, without anyone bothering to check if the sub was actually going into silver. WSB is calling it fake news corrupt media, but it's probably just lazy journalism, or else it wouldn't work when Cramer does it either.
Whatever, I am going to pay 13 dollars over market spot price for Trump Silver coins. https://www.moneymetals.com/donald-t...lver-round/303
Well, I believe the lesson of the day is don't gamble in the first place unless you know what you are doing. Actual investing is long term and is not gambling, this does not include that.
1. Only bet what you are willing to lose.
2. Set an upper and lower limit on when to get out(regardless of gains/losses).
3. Don't follow any hype trains.
if you want to gamble with your money, go to an actual casino where you have more control of winning some money(this excludes slot machines). At least there if you get screwed, you can look the person in the eye who is doing it to you.
Seeing some of the crypto and other stock communities warning their communities against similar pump-n-dump schemes. So was this just a few galaxy brains manipulating the meme-communities to do their bidding? Because like, it sure looks like it.