Jump to content

My Not So Short Story on GME

Eastwood

By Eastwood
in Business and Markets

 Share

Recommended Posts

  • Replies 567
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

Popular Posts

Eastwood
Eastwood

I'm not a financial advisor. This is not financial advise. I don't work in finance. I do not have a degree in finance. Actually, I have a BA and I'm bad at math past Cal I. I won't apologize for the l

Captainant
Captainant

Turns out, dumping trillions of dollars of liquidity into a stagnant market leads to stupid shit happening. Who knew!

52-80
52-80

You’re hoping that a guy barely meeting working class threshold throwing almost 2 months of pre-tax income into a single speculative play ... should make a reasonable financial decision.    i t

Posted Images

Bone3421

Bone3421 716

Posted
Posted
Maybe this has been discussed, I haven’t read this entire thread, but convince me that Roaring Kitty and Robinhood’s CEO aren’t the same guy.
 
 
 
 
Cant do it.... no one has seen them in the same room

Only argument against is one fucked his customers out of 100 of thousands of dollars and one isnt a cat and made(if he sells) millions
Link to comment
Share on other sites
Eastwood

Eastwood 4,394

Posted
  • Author
Posted

I said a few days back that the math pretty much showed that there was no way for the short interest to fully unwind. I got out and stayed out because I was no longer confident that the powers that be would allow this stock to trade in a free market. The plug will be pulled on this faster, this time around, in my opinion. The market shuddered under the weight of the last squeeze and they'll do everything they can to keep it from happening again.

  • Hook 'Em 1
  • Like 1
Link to comment
Share on other sites
TheFlyingBoat

TheFlyingBoat 913

Posted
Posted
13 minutes ago, Eastwood said:

I said a few days back that the math pretty much showed that there was no way for the short interest to fully unwind. I got out and stayed out because I was no longer confident that the powers that be would allow this stock to trade in a free market. The plug will be pulled on this faster, this time around, in my opinion. The market shuddered under the weight of the last squeeze and they'll do everything they can to keep it from happening again.

This. I am convinced until I see something to change my mind that large parts of the market are fraudulent and that if we get to close to the edges we'll find out once again exactly what length the financial powers that be will go to box us in. The reaction to Gamestop has soured me even harder than 2008 for summer reason. There I figured they were hustling us and we got beat. They definitely lured us into a false game but at least it seemed that if you could outplay the big guys you could still win. Here it seems that once the big guys realized they were outplayed that they flipped the table over and shot us. I'll hold the GME shares I was willing to run into the ground but I'm extremely reticent to buy into it again. My faith in US capital markets has been severely shaken and I'm not quite sure what it would take to recover it.

  • Hook 'Em 2
Link to comment
Share on other sites
SquishMitten

SquishMitten 10,466

Posted
Posted (edited)

Those halts were absolute fuckery. Up 10% in 10 minutes? SHUT THAT SHIT DOWN. Down 10% in 15 seconds. We good, let it ride. The last halt being 14 minutes, and being lifted 12 seconds into aftermarket is unbelievable horseshit.

Still thinking it finds its way back up afterhours and hopefully continues tomorrow. If it drops overnight, I'll never believe the system will work right again.

 

ETA: LOL. In the time it took me to write this, it's up over 30% from close. This shit is cray. I'm officially in the green on this position.

Edited by SquishMitten
Link to comment
Share on other sites
SquishMitten

SquishMitten 10,466

Posted
Posted
29 minutes ago, Eastwood said:

I said a few days back that the math pretty much showed that there was no way for the short interest to fully unwind. I got out and stayed out because I was no longer confident that the powers that be would allow this stock to trade in a free market. The plug will be pulled on this faster, this time around, in my opinion. The market shuddered under the weight of the last squeeze and they'll do everything they can to keep it from happening again.

You're at least right about part of this. So far, this afternoon's fuckery doesn't seem to have worked. Genuinely interested to see how many times they will pull this shit and whether they'll get away with it or if the guys at WSB keep stepping up their game and buying more.

Link to comment
Share on other sites
52-80

52-80 19,282

Posted
Posted

big secret: i sold off my shares today at $50 while trimming position

 

salvation: at the close i caught some friday 200-strike calls for 9.50 and sold them literally in <20 seconds for 12.25

 

and then i bought some more shares after-hours (post-halt) for 86$ cuz im retarded

  • Hook 'Em 1
  • Like 1
  • Haha 1
Link to comment
Share on other sites
Eastwood

Eastwood 4,394

Posted
  • Author
Posted
You're at least right about part of this. So far, this afternoon's fuckery doesn't seem to have worked. Genuinely interested to see how many times they will pull this shit and whether they'll get away with it or if the guys at WSB keep stepping up their game and buying more.
It's not WSB. All of the "meme" stocks popped along with the weed stocks. Not to the level of GME, but 10+% across the board. WSB doesn't control that much total volume in the market. This is a big fish move.
  • Hook 'Em 1
Link to comment
Share on other sites
SquishMitten

SquishMitten 10,466

Posted
Posted
2 minutes ago, Bone3421 said:

I'm thinking they let it run up today because the si% comes out today...ofcourse lots think the number is false and hedges are hiding shorts in ETF's so when its reported low they will hope everyone sells

I think that's absolutely their hope, and it will work on some folks. I don't think they particularly wanted it to run up like it did today. It's got to drop a lot farther now. Also, a lot of new shorts were opened today (well 1.35 million borrowed today, but I assume they put em to work) so those are all in a bad spot now.

  • Like 1
Link to comment
Share on other sites
Bone3421

Bone3421 716

Posted
Posted
big secret: i sold off my shares today at $50 while trimming position
 
salvation: at the close i caught some friday 200-strike calls for 9.50 and sold them literally in  
and then i bought some more shares after-hours (post-halt) for 86$ cuz im retarded
Bruh...

Isold first go around for profit then got back in Monday at 44$
  • Hook 'Em 2
Link to comment
Share on other sites
hayden_horn

hayden_horn 11,373

Posted
Posted
3 minutes ago, Bone3421 said:

Gamma squeeze possibly in motion

Call chain set up starting at 50$ by some institution/whale...explains why 50$ was a battleground today and once it broke gme took off into orbit

yeah, volumes started picking up at around 2:30, but at 3:15 is when the big boy moves started spiking. then 3:45 was the real big boy move. somebody moved a lot of volume at that point.

super interesting, and i missed it all working. haha.

still have a lot of ground to get back to the $252/share i stupidly spent, but maybe we'll all get to the moon.

 

Link to comment
Share on other sites
Trey3216

Trey3216 15,381

Posted
Posted
On 2/3/2021 at 10:01 AM, 52-80 said:

13M @ 4% Safe Withdrawal Rate is 520k a year.  Dude doesn't have to work a day for the rest of his life without even touching the principal.  I wouldn't sell either, the public might haunt him down.

 

Could make a decent steady income selling covered calls against those shares.

4% is way to high a withdrawal rate for someone his age (if he were to completely quit working) 

Link to comment
Share on other sites
52-80

52-80 19,282

Posted
Posted
3 hours ago, Trey3216 said:

4% is way to high a withdrawal rate for someone his age (if he were to completely quit working) 

400k from 3% , excluding additional income from covered calls, future dividends, and public appearances cosplaying as a cat, isnt too shabby.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing


Football ... Basketball ... Baseball ... Other Sports ... Futbol ... 🤫995🤫 ... Gambling ... Movies & TV ... Music ... Hobbies ... Lulz ... Food & Travel ... Daily Texan ... Business and Markets ... Cloak Room ... Help ... For Sale ... Board Discussion ... Subscribe!... Donate!... Advertise... COOKIE MONSTER!

×
×
  • Create New...