This is seriously some wild shit. Apparently AMC & Blackberry are next (not to this level though).
Anyone Following (or even investing) in GameStop?
- Thread starter SamSwimmer
- Start date
I don’t day trade but I bought a little blackberry just for the fun.
Glad to see retail investors taking it to hedge funds that use naked short selling.
Glad to see retail investors taking it to hedge funds that use naked short selling.
Blackberry was awesome back in the day. Best emailing and texting phone I ever had.
The shorters are getting fvcked. When Game Stop falls after these shenanigans are over, it is going to be fast and hard. I sold my Macy's stock today, I wish I held onto my Rite Aid stock I sold a few weeks ago and my At Home stock I sold a few months ago, but oh well, you cannot dwell on the past.
Market manipulation in favor of the plutocracy.
Damn.
Never thought I’d be marching on Wall Street with the squad and Bernie. But here we are.
Never thought I’d be marching on Wall Street with the squad and Bernie. But here we are.
Some of it maybe. Naked short selling with a bailout like we’re seeing now is
But buying stock of companies you believe in is a net positive.
Taking risks with other peoples money (see2008) and removing skin in the game via bailouts is a rigged game. You buy a ticket for the ride you’re expected to take it a long side the other people with tickets.
Taleb is so good on his writings on this stuff. Better than I could ever do him justice.
The bad part is this will just result in more and more “regulation” that makes entering the market even harder.
the rules are already set up to help qualified purchasers, accredited investors, real estate moguls, etc to “protect” us.
The biggest “regulation” we need is to e sure skin in the game. You want to naked short sell or buy back your own stock that’s fine...but no bailouts.
the rules are already set up to help qualified purchasers, accredited investors, real estate moguls, etc to “protect” us.
The biggest “regulation” we need is to e sure skin in the game. You want to naked short sell or buy back your own stock that’s fine...but no bailouts.
This whole thing is ridiculous. This is not hurting anyone but the common investor. The hedge funds will just liquidate other stocks to make up for the options. Just going to cost the common investor money when they do start dumping.
Carl is right, they will just start making it harder to get started in the first place. Back to the $50 per trade days of TD and E-trade.
Carl is right, they will just start making it harder to get started in the first place. Back to the $50 per trade days of TD and E-trade.
Absolutely. And pad your nest egg. That is never what I meant. Normal stock and 401k investing is the penny slots in the casino. What we are seeing today is what I meant: you try to play their game, they will rig it. Or just not let you into their game. Their game is where the REAL MONEY is made.
I am a pretty decent poker player. If I set down at a table full of WSOP winners with all my money I expect to match wits and skills...and not have the dealer stacking the deck.
It's a rigged casino for those that dont know the game and walk in looking to hit a lottery ticket. For those that have the common sense to study market trends and repeating historical moves over years and decades...sometimes it's like shooting fish in a barrel.
Why would anyone actually use Robinhood??? Almost all full service brokers are now charging minimal to 0 for trade/stock purchases. The typical robinhood account holder is that type of investor I mentioned above. Someone chasing easing money because their cousin made $200. They are the typical guy/gal HOPING the stock they bought makes them rich.
The worst part, some of you are the same group of "investor" bitching about not being able to pile into a pump and dump scheme, would be the same group of bitches crying to the SEC when their profit gets wiped out in under an hour when the stock crumbles. Robinhood limiting their client/idiots from buying...and only permitting the sell to close orders is actually doing the right thing.
For those that questioned the fact AOC status as an idiot........she confirms it fully in her post above. I'm not sure she would even be able to balance her checkbook.
The worst part, some of you are the same group of "investor" bitching about not being able to pile into a pump and dump scheme, would be the same group of bitches crying to the SEC when their profit gets wiped out in under an hour when the stock crumbles. Robinhood limiting their client/idiots from buying...and only permitting the sell to close orders is actually doing the right thing.
For those that questioned the fact AOC status as an idiot........she confirms it fully in her post above. I'm not sure she would even be able to balance her checkbook.
It results in more regulation because the avg joe doesn't take the time to actually learn the game....buys a stock the same way he buys a lottery ticket or visits the slot machine; only to later cry when taken to the woodshed due to his own lazy ignorance. At that point. The AOC's of the world are eager to legislate more of your "safety", actually tilting the game in an even bigger advantage to the big players.......(anti free markets)
The current rules allow Robinhood to exist...the antithesis of "mogul". God knows a majority of their clients aren't "qualified" or "accredited".
That's why what Robinhood did today was the ethical thing to do. It allowed the morons who got lucky with their lottery ticket... to cash it in....and insured the rest of their plebeians not take part in tulip mania part 2.
No - it bailed out hedge funds.
The autists on Robin Hood don’t get bailed out.
We don’t need big tech or Robin Hood or the government to keep the investment “safe.”
Let it trade and play out. I’ve followed WSB for years. Dudes lose their asses all the time. They know it’s a risky gambling in options. But when the hedge fund doesn’t clip its tail risk and it blows up they just stop the game.
Would you expect to sit down at a table completely inexperienced in poker and expect to match wits and skills???
Yet that is exactly the double edged sword of today's markets and firms like Robinhood.
The "deck" has never been more even for the average guy to participate at the table (aka Robinhood). The amount of information and education on playing the game well has never been easier to obtain in history.
The problem of course is that a player, who has no experience playing poker, expects to have the same skill and wit of a WSOP, steps sits down at the table, gets taken to the woodshed.....then bitches about the deck being stacked against him.
I think all the stock picking is crap too. I don’t advise it. Very very few can consistently beat VTSAX. Ask Buffett.
A lot of these fund managers make bank on commissions and take huge risks with other peoples money.
I agree with musk on this , too:
A lot of these fund managers make bank on commissions and take huge risks with other peoples money.
I agree with musk on this , too:
Not really. We will see in the coming weeks, that large firms like Blackrock made $$Billions being long...and several hedge funds being short, imploded with losses and client redemptions.
Citadel is one of Robinhood’s biggest customers.
Citadel spent billions to prop up Melvin who was one of the main hedges getting squeezed to death.
Robinhood stopped retail traders from buying, thereby helping ensure the price would come back to earth which will help save those hedges like Melvin (supported by Robinhoods biggest customer Citadel), before the world ended at EOM tomorrow.
Yet you think Robinhood limiting the public from buying was just for the Public’s own good....
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GME was the battle. Bitcoin and decentralization is the war.
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I am not a fan of shorting stock. I prefer trading put options when making "down" $$.
I generally agree with Buffett too. "The average guy cant trade the market and make money". (Lets also understand the man and Berk trade stocks, options, warrants, etc) This is why I suggest to anyone who wants to invest....."Dont be the average guy. Put in the time and effort to learn and understand your trades/investments"
Robinhood may have done the ethical thing but it doesn’t look like they did the legal thing by restricting the stocks investors were able to purchase/sell
Citadel LLC or Citadel Securities?? (yes this matters)
Yes, limiting the public from getting crushed...the type of "public" that has limited knowledge of what they were doing and demonstrating the "greed" only pro wall street types possess...was for their own good.
Funny part, some of the same complainers here, were probably bitching when the SEC abandoned brokers "fiduciary" duty in 2018.
Profiting from shorting stock feels almost like blood money. No wonder Musk effing hates it, they've been trying to short his companies at every step.
Yes, they did the legal and ethical thing. There isn't a law that says all stocks on the market trading, have to be offered for buying by all brokers. Robinhood allowed anyone in positions to sell to close or buy to close orders. The legal and ethical decision in this case.
Have to love these clowns are now filing Class Action against Robinhood.
They are basically, acknowledging that there was a conceded effort to
Pump and Dump stock in a Ponzi Scheme (Felony) in an effort to
defraud various Mutual and Security Funds (Felony #2).
And Yes shutting down GME and AAL etc. for the day was the right thing for TD and Robinhood to do.
They are basically, acknowledging that there was a conceded effort to
Pump and Dump stock in a Ponzi Scheme (Felony) in an effort to
defraud various Mutual and Security Funds (Felony #2).
And Yes shutting down GME and AAL etc. for the day was the right thing for TD and Robinhood to do.
I wont call it blood money. You're borrowing stock and locking up your collateral to make the transaction. The risk to the shorter is real...as we can see.
Every shorter of TESLA has been crushed.
