- Posts
- 1,965
- Likes
- 9,409
140dave
·One of the other fascinating aspects, IMO, is how many of the Gamestop/Robinhood investors used their govt COVID stimulus check to get this whole ball rolling. Talk about unintended consequences!
Gamestop frenzy
- Posts
- 328
- Likes
- 127
lexieb007
·One of the other fascinating aspects, IMO, is how many of the Gamestop/Robinhood investors used their govt COVID stimulus check to get this whole ball rolling. Talk about unintended consequences!
Edited:
- Posts
- 439
- Likes
- 935
Dor_42
·So relevant
“At 2:52pm, in the middle of the trading day, the Stock Exchange was forced to close its doors. No money was harmed.”
“At 2:52pm, in the middle of the trading day, the Stock Exchange was forced to close its doors. No money was harmed.”
- Posts
- 786
- Likes
- 7,282
CTS-V
·Got into AMC yesterday at $8.37....been fun so far!
- Posts
- 2,772
- Likes
- 14,797
The Father
·1.5 billion shares traded every day on NYSE. Some quick math on volume from Thursday for the culprits was little over 100 million shares.
Volume today on NYSE is almost double the average and nothing shutdown.
It all goes back to the big guys shorting GME, over 100% of the total shares by some accounts. At 90% when I last checked..
These smart guys(not me of course, oxymoron) looked at the huge short position held by the big boy and started the piling on worldwide.
Looks pretty damn clever. Mr. Hedge fund CEO will have to look closer at his underlings stock moves. Mr. Hedge Fund CEO never anticipated a worldwide "buy" of all the shares he was gonna need to cover his shorts. His shorts are probably in a bind today.
Great fun to watch.
Volume today on NYSE is almost double the average and nothing shutdown.
It all goes back to the big guys shorting GME, over 100% of the total shares by some accounts. At 90% when I last checked..
These smart guys(not me of course, oxymoron) looked at the huge short position held by the big boy and started the piling on worldwide.
Looks pretty damn clever. Mr. Hedge fund CEO will have to look closer at his underlings stock moves. Mr. Hedge Fund CEO never anticipated a worldwide "buy" of all the shares he was gonna need to cover his shorts. His shorts are probably in a bind today.
Great fun to watch.
- Posts
- 47
- Likes
- 44
Lovemy8541
·I purchased quite a few thousand shares of AMC just before the GME boom. AMC went along for the ride, and I did rather well for a 3 day turnaround. It was quite a ride being up and down 50K in a day on one stock. I bailed today with a nice profit, but seems like there may still be some fun action going into next week. In the end, despite some people making a lot of money, a lot of people will lose. The original individual (roaring kitty) who got the ball rolling turned his 700K into 45 million as of today. Scary.
- Posts
- 445
- Likes
- 1,282
Ree
·I purchased quite a few thousand shares of AMC just before the GME boom. AMC went along for the ride, and I did rather well for a 3 day turnaround. It was quite a ride being up and down 50K in a day on one stock. I bailed today with a nice profit, but seems like there may still be some fun action going into next week. In the end, despite some people making a lot of money, a lot of people will lose. The original individual (roaring kitty) who got the ball rolling turned his 700K into 45 million as of today. Scary.
https://www.business-standard.com/a...riends-roiled-the-markets-121013000082_1.html
53k to 45m. Must be nice.
- Posts
- 1,303
- Likes
- 4,388
Speedmasterfan88
·I was in, got paper hands thursday and moved my stop loss order up.
That was 2 minutes before the big dip down to 120€!
Literally went into the kitchen to get a cup of coffee, came back to take a look if my orders got through and wondered why it only showed executed orders.
Checked the stock and saw that it went from 420 € to 120€ in like 2 minutes. I was lucky, so to speak, got out with a nice profit just at the right time. Many others didn't.
Thankfully I didn't used any of the new trading apps and instead only trade through the brokerage of my bank where I have "free" access to all the market places.
I was living with a roommate who daytraded on CFD's during my UNI days and remember that he was constantly raging about the brokers not executing his orders when he was up or when something unexpected was happening that made the price soar. This memory will keep me forever away from any "trading" apps or platforms. Especially those with HQ's in the likes of Cyprus or Bulgaria etc.
I'm thinking about going back in on monday with a fraction of my gains. It's yolo money anyways.
I don't believe Melvin has cleared all their short positions. There was no shortsqueeze yet.
At least not like what we saw back in 2008 with VW for example.
But maybe the dip on thursday was enough for them to cover, including the fresh capital they got from Citadel and P72.
Bloomberg posted yesterday that there are still 113 % short positions open.
@Foo2rama my you explain how you come to the conclusion that there are no more short positions or where you get your data from? Most of it is not publicly available, and hid behind paywalls.
Sites like Whalewisdom and shorttracker etc. only show a fraction to the public. According to Whalewisdom, Melvin still holds 5,4 mil shares in Gamestop, then again I don't know how frequently this site updates their information.
So far, it was CNBC who first announced as early as thursday that melvin was out. But it's CNBC ....
( Ps: This is not financial advice, I just like the stock. Diamond hands all the way 😉 )
Cheers,
Max
That was 2 minutes before the big dip down to 120€!
Literally went into the kitchen to get a cup of coffee, came back to take a look if my orders got through and wondered why it only showed executed orders.
Checked the stock and saw that it went from 420 € to 120€ in like 2 minutes. I was lucky, so to speak, got out with a nice profit just at the right time. Many others didn't.
Thankfully I didn't used any of the new trading apps and instead only trade through the brokerage of my bank where I have "free" access to all the market places.
I was living with a roommate who daytraded on CFD's during my UNI days and remember that he was constantly raging about the brokers not executing his orders when he was up or when something unexpected was happening that made the price soar. This memory will keep me forever away from any "trading" apps or platforms. Especially those with HQ's in the likes of Cyprus or Bulgaria etc.
I'm thinking about going back in on monday with a fraction of my gains. It's yolo money anyways.
I don't believe Melvin has cleared all their short positions. There was no shortsqueeze yet.
At least not like what we saw back in 2008 with VW for example.
But maybe the dip on thursday was enough for them to cover, including the fresh capital they got from Citadel and P72.
Bloomberg posted yesterday that there are still 113 % short positions open.
@Foo2rama my you explain how you come to the conclusion that there are no more short positions or where you get your data from? Most of it is not publicly available, and hid behind paywalls.
Sites like Whalewisdom and shorttracker etc. only show a fraction to the public. According to Whalewisdom, Melvin still holds 5,4 mil shares in Gamestop, then again I don't know how frequently this site updates their information.
So far, it was CNBC who first announced as early as thursday that melvin was out. But it's CNBC ....
( Ps: This is not financial advice, I just like the stock. Diamond hands all the way 😉 )
Cheers,
Max
- Posts
- 3,555
- Likes
- 23,988
Dsloan
·I'm still holding some shares, but glad I took profit when I did. The situation is looking murky to me.
- Posts
- 7,980
- Likes
- 27,939
Tony C.
··Ωf Jury memberThe Onion has made a nice contribution:
- Posts
- 415
- Likes
- 1,088
mrbreen
·Too funny Tony. The Onion has just been killing it lately.
- Posts
- 7,980
- Likes
- 27,939
- Posts
- 2,772
- Likes
- 14,797
The Father
·This arbitrarily closing the buying of securities by Robinhood, TDAMERITRADE, Schwab and any others needs to be throughly investigated. The BS of not have the funds to settle trades is BS. If they turned off all buying of all securities then maybe believable. But shutting the spigot off on the securities that are hammering the big boys, something is amiss. I am sure it was my buy that triggered this also. I buy, then everything goes to hell. Puts the cloud of hesitation over the retail buyers doesn’t it. Having the possibility of getting the plug pulled sure cools the jets.
- Posts
- 18,056
- Likes
- 27,367
Foo2rama
··Nowhere near as grumpy as he used to be...I was in, got paper hands thursday and moved my stop loss order up.
That was 2 minutes before the big dip down to 120€!
Literally went into the kitchen to get a cup of coffee, came back to take a look if my orders got through and wondered why it only showed executed orders.
Checked the stock and saw that it went from 420 € to 120€ in like 2 minutes. I was lucky, so to speak, got out with a nice profit just at the right time. Many others didn't.
Thankfully I didn't used any of the new trading apps and instead only trade through the brokerage of my bank where I have "free" access to all the market places.
I was living with a roommate who daytraded on CFD's during my UNI days and remember that he was constantly raging about the brokers not executing his orders when he was up or when something unexpected was happening that made the price soar. This memory will keep me forever away from any "trading" apps or platforms. Especially those with HQ's in the likes of Cyprus or Bulgaria etc.
I'm thinking about going back in on monday with a fraction of my gains. It's yolo money anyways.
I don't believe Melvin has cleared all their short positions. There was no shortsqueeze yet.
At least not like what we saw back in 2008 with VW for example.
But maybe the dip on thursday was enough for them to cover, including the fresh capital they got from Citadel and P72.
Bloomberg posted yesterday that there are still 113 % short positions open.
@Foo2rama my you explain how you come to the conclusion that there are no more short positions or where you get your data from? Most of it is not publicly available, and hid behind paywalls.
Sites like Whalewisdom and shorttracker etc. only show a fraction to the public. According to Whalewisdom, Melvin still holds 5,4 mil shares in Gamestop, then again I don't know how frequently this site updates their information.
So far, it was CNBC who first announced as early as thursday that melvin was out. But it's CNBC ....
( Ps: This is not financial advice, I just like the stock. Diamond hands all the way 😉 )
Cheers,
Max
Sorry I should have said exposure on shorts... a little different.
read this article.
https://arstechnica.com/tech-policy...is-going-to-hurt-a-lot-of-ordinary-investors/
- Posts
- 10,596
- Likes
- 51,617
Walrus
·Robinhood has employment opportunities posted looking for help for when they are pulled before congress. Should be interested but robinhood isn’t a small independent business anymore the big boys having been pouring money into them for years. Two of my coworkers were flipping out at work as they were trying to access their accounts a couple days ago. I never liked or used robinhood it’s like they turned trading into a video game.
- Posts
- 10,596
- Likes
- 51,617
Walrus
·One thing that annoys me is all other market news is being drowned out by GameStop. Apple takes in 111 billion in revenue, Microsoft smashes it with the cloud again but nope, all GameStop all the time. It’s fun to watch but I will be glad when it’s over.
- Posts
- 806
- Likes
- 2,108
Observer
·Did TDAmeritrade really shut down GME trading? I got a notice from them that I could buy/sell, but some leveraged trading was restricted.
I gamble with 5-10% of my portfolio, but I think I'll stick to my usual games. Biotech has been killing it for me and I see miners ready to get going again. Could be wrong, of course. Maybe, in honor, or rather homage 😉 to OF, I'll buy some Richemont.
I gamble with 5-10% of my portfolio, but I think I'll stick to my usual games. Biotech has been killing it for me and I see miners ready to get going again. Could be wrong, of course. Maybe, in honor, or rather homage 😉 to OF, I'll buy some Richemont.
- Posts
- 3,555
- Likes
- 23,988
Dsloan
·Did TDAmeritrade really shut down GME trading? I got a notice from them that I could buy/sell, but some leveraged trading was restricted.
I gamble with 5-10% of my portfolio, but I think I'll stick to my usual games. Biotech has been killing it for me and I see miners ready to get going again. Could be wrong, of course. Maybe, in honor, or rather homage 😉 to OF, I'll buy some Richemont.
Minors may be interesting this year. WSB crew is now starting to talk about SLV and silver minors, with the theory that the alignment of rising commodity prices, use of silver in tech, and short interest will result in tendies.
It's all very exciting but I'm looking forward to rotating my GME gains into something boring. Been a little nerve-wracking this week.
- Posts
- 806
- Likes
- 2,108
Observer
·Minors may be interesting this year. WSB crew is now starting to talk about SLV and silver minors, with the theory that the alignment of rising commodity prices, use of silver in tech, and short interest will result in tendies.
It's all very exciting but I'm looking forward to rotating my GME gains into something boring. Been a little nerve-wracking this week.
- Posts
- 10,596
- Likes
- 51,617
Similar threads
- Posts
- 2
- Views
- 186
- Posts
- 0
- Views
- 173
