Surly #Stonks

[LABEVO 928]

 

[52-80 19,066]

1 minute ago, PenelopeWitherspoon said:

I will probably leave the app when I can.  Do not want to liquidate some of my positions (like TSLA, AAPL and FTCH), but once I profit take, will move all over to Fidelity and TD.

you can transfer ownership/custodianship of securities from broker to broker.  its standardized.

Edited January 28, 2021 by 52-80

[Michael Knight 12,863]

this is the weirdest timeline

[Hank Scorpio 17,712]

 

[hayden_horn 11,360]

Just now, LABEVO said:

 

i mean, it couldn't be more clear that this is what happened.

[Skipper 6,088]

Just now, LABEVO said:

 

This would be amazing if true.   Every stakeholder in Robinhood that just got their equity wiped out overnight will be suing Citadel as well.   

[PenelopeWitherspoon 19,074]

3 minutes ago, 52-80 said:

you can transfer ownership/custodianship of securities from broker to broker.  its standardized.

That is good to know.  I have never done it before.

[52-80 19,066]

3 minutes ago, LABEVO said:

 

this is the nuclear bomb. 

[DonkeyCigars 144]

If only WSB could have diamond handed; but I understand that’s unrealistic and unfair to expect of them. But can you imagine if that gambit didn’t work because of the 💎🙌🏼????

we’d have a bloody revolt 

[BTW 370]

Question, how many of you dudes are trading your penny stocks on RH?  I'm wondering how people getting pissed and bailing on RH will influence the penny stocks if lots of the retail traders in those stocks were using RH to trade them.

[GRHorn 105]

 

 

[Foosters 17,691]

10 minutes ago, PenelopeWitherspoon said:

I will probably leave the app when I can.  Do not want to liquidate some of my positions (like TSLA, AAPL and FTCH), but once I profit take, will move all over to Fidelity and TD.

I just liquidated my entire account. I've only had it since beginning of pandemic. Made a nice little bit of change.

[52-80 19,066]

uhhhh...

 

https://twitter.com/3halflings/status/1354865504872255503/photo/1

 

(of course, he couldl be leveraged to the tits with other losing positions getting margined)

[Hefeweizen 5,307]

God damn I am as pro business as it comes.   This is criminal and people need to be prosecuted.  Otherwise let’s burn the sec down and start over.  Because I have very little faith in the regulator’s right now

[ZB'Tejas 593]

6 minutes ago, BTW said:

Question, how many of you dudes are trading your penny stocks on RH?  I'm wondering how people getting pissed and bailing on RH will influence the penny stocks if lots of the retail traders in those stocks were using RH to trade them.

Not sure RH offered OTC so it might not even matter.

[The Royal We 3,059]

2 minutes ago, 52-80 said:

uhhhh...

 

https://twitter.com/3halflings/status/1354865504872255503/photo/1

 

(of course, he couldl be leveraged to the tits with other losing positions getting margined)

What in the actual fuck!?  This can't be legal, can it?

[Auto Driller 2,504]

This is absolutely fucking unreal and criminal. If those responsible for this are not held accountable then we have truly lost any semblance of economic freedom. 

[936horn 910]

4 minutes ago, 52-80 said:

uhhhh...

 

https://twitter.com/3halflings/status/1354865504872255503/photo/1

 

(of course, he couldl be leveraged to the tits with other losing positions getting margined)

Holy fook

[Chewbacca 7,727]

18 minutes ago, IDIOTsavant said:

We'll find out that they've just sold to a hedge fund for 125% of their expected IPO value, which will be fraction of the potential short losses.

It has to be something like this.

[TonyTexas 10,478]

33 minutes ago, 936horn said:

Do you believe disallowing buy orders from retail to prevent further price run up is legal?

I’m not sure. Are you?

Edited January 28, 2021 by TonyTexas

[Cheeseweasel 26,437]

25 minutes ago, Chewbacca said:

Ken Griffen owns Citadel.  

Junior or Senior? 

[ZB'Tejas 593]

 

 

lulz

[Cheeseweasel 26,437]

9 minutes ago, Hefeweizen said:

God damn I am as pro business as it comes.

Many of us run and/or own businesses, so yeah. Pro business. This isn't business. This is monkey business. FUCK EM

[hayden_horn 11,360]

100%

[IDIOTsavant 8,437]

Just now, Cheeseweasel said:

Many of us run and/or own businesses, so yeah. Pro business. This isn't business. This is monkey business. FUCK EM

It's not monkey business; it's out and out fraud.

[Cheeseweasel 26,437]

Just now, IDIOTsavant said:

It's not monkey business; it's out and out fraud.

[Chewbacca 7,727]

Just now, Cheeseweasel said:

Many of us run and/or own businesses, so yeah. Pro business. This isn't business. This is monkey business. FUCK EM

Yep.  I've always believed that the stock market was truly (for the most part) a free market.  Sure, the little guy gets front run on trades and loses a couple pennies here and there, but at the end of the day, if you picked right, you made money.  Never in my life did I think I would see something so brazen as this.  They're just straight up stealing at this point.

[PenelopeWitherspoon 19,074]

I just liquidated my entire account. I've only had it since beginning of pandemic. Made a nice little bit of change.

Yeah, I started mine on 3/13/2020, the day I cancelled all my trips. I've made a 75% return.

[Auto Driller 2,504]

1 minute ago, hayden_horn said:

100%

I know there are mixed opinions of Portnoy on this site but he is absolutely in the right here.

 

[RCRanger03 1,049]

I have been sitting on bid for PFMS .0037 a few hours now and nary a fill even partial despite hitting that level 3 times. This is a good sign of establishing a support to launch off. Just need a positive 8k to light the fuse. 

[Chewbacca 7,727]

The bigger issue here, IMO, is now they've brought the credibility of the stock market itself into question.  How many people are going to be willing to invest when horsefuckery like this happens?  

[sidis 9,713]

steve cohen dunking on people on twitter should go well.  

 

steve and ken griffin might want to batten down the hatches.  their typical line of defense is crumbling when ted cruz is aligning with aoc on twitter.

 

 

[52-80 19,066]

lawsuits filed in new york.

 

in the worst worst worst case, everything fucking goes carbonite and trading completely suspends and they nuke the entire security.... they'll wind back everyones trades in cash at traded value. 

maybe? 

or they'll leave everyone at the side of the road.

 

[hayden_horn 11,360]

3 minutes ago, Auto Driller said:

I know there are mixed opinions of Portnoy on this site but he is absolutely in the right here.

 

i despise the guy. but he's 100% right here.

[Foosters 17,691]

Explain to me like I'm 5:

Why I should not be worried about: my pension, my IRA, daughter's 529, and 401k?

[52-80 19,066]

1 minute ago, Foosters said:

Explain to me like I'm 5:

Why I should not be worried about: my pension, my IRA, daughter's 529, and 401k?

if this undermines consumer confidence in the securities market (including the GLOBAL securities market as EU brokers are also freezing GME buys)..... and keep in mind a generation of young investors..... the equities market is going splat.

 

which means your 401k will become a 200.5k

[Auto Driller 2,504]

1 minute ago, Foosters said:

Explain to me like I'm 5:

Why I should not be worried about: my pension, my IRA, daughter's 529, and 401k?

You should be worried. This calls into question the actual value of any stock when your position can be blatantly manipulated / nullified in plain sight.

[ZB'Tejas 593]

Just now, 52-80 said:

if this undermines consumer confidence in the securities market (including the GLOBAL securities market as EU brokers are also freezing GME buys)..... and keep in mind a generation of young investors..... the equities market is going splat.

 

which means your 401k will become a 200.5k

Hello Bitcoin.

[Auto Driller 2,504]

Just now, ZB'Tejas said:

Hello Bitcoin.

This.

BUY CRYPTO.

[Cheeseweasel 26,437]

4 minutes ago, 52-80 said:

lawsuits filed in new york.

 

in the worst worst worst case, everything fucking goes carbonite and trading completely suspends and they nuke the entire security.... they'll wind back everyones trades in cash at traded value. 

maybe? 

or they'll leave everyone at the side of the road.

 

[BradInATX 9,208]

Wells Fargo is doing the opposite of the others and is disallowing shorts on these stocks but still allowing buys. Whatever that means.

 

[Continental Op 3,934]

8 minutes ago, Chewbacca said:

The bigger issue here, IMO, is now they've brought the credibility of the stock market itself into question.  How many people are going to be willing to invest when horsefuckery like this happens?  

Because it's that or watch your nest egg get eaten alive by inflation in a savings account that a bank pays you 0.000000000000002 percent interest on while they loan the balance out many times over at a much higher rate.  There is no alternative! 

Edited January 28, 2021 by Continental Op

[Cheeseweasel 26,437]

Just now, Continental Op said:

Because it's that or watch your nest egg get eaten alive in a savings account that a bank pays you 0.000000000000002 percent interest on while they loan the balance out many times over at a much higher rate.  There is no alternative! 

TINA!!!!

[52-80 19,066]

1 minute ago, Continental Op said:

Because it's that or watch your nest egg get eaten alive by inflation in a savings account that a bank pays you 0.000000000000002 percent interest on while they loan the balance out many times over at a much higher rate.  There is no alternative! 

leverage for me but not for thee.

oh and dont worry, we dont lose this borrowed money because if our positions go sour we'll just freeze the trades.  lol.

[Trey3216 15,325]

47 minutes ago, 936horn said:

Do you believe disallowing buy orders from retail to prevent further price run up is legal?

They disallowed retail and institutional shorting the banks and insurance companies in '08...didn't matter   

[Cheeseweasel 26,437]

Ben Bernake is the Senior Advisor for Citadel LLC.

 

[Trey3216 15,325]

38 minutes ago, PenelopeWitherspoon said:

I will probably leave the app when I can.  Do not want to liquidate some of my positions (like TSLA, AAPL and FTCH), but once I profit take, will move all over to Fidelity and TD.

Just open a new account and do an AFAC transfer.  Transfer the positions as is and you don't have to sell them.  

[BTW 370]

FYI ...  Schwab will allow me to buy and sell GME and all the other "big short" stocks.  It will also let me buy and sell options on them (but they have increased the options limits.  I'm about to buy a bunch of puts on GME so I can make money along with the crooks.

[52-80 19,066]

Per Deloitte:  there are ~20 million brokerages account in the US. 

 

how many of those are "actively" traded?  like even once a month rebalancing.  1/10?  1/20?

 

there are over 1 million live eyeballs on WSB right now.  (well, if its eyeballs then technically 2m+).  if you discount some of those to europoors... this is a gargantuan chunk of the american investing community watching this all unfold.

 

im kinda tearin a little

[Hefeweizen 5,307]

18 minutes ago, Foosters said:

Explain to me like I'm 5:

Why I should not be worried about: my pension, my IRA, daughter's 529, and 401k?

I’m worried about everything now.  This exposes a fundamental flaw with how we perceive what I thought was a free market. Yes, algos and big shops have a huge data edge and buckets of research but I thought the rules applied.  Now we find out they apply until the wrong people lose money, then they just change the rules.  That is horse shit and makes  me want out.  
 

I will wait and see but I am really feeling a sense of unease like never before.  Now I need to go trade some pennies to get my dopamine hit.