Market Shenanigans. GME, Reddit, and more

[Red Six 131]

7 minutes ago, horn4life said:

All the folks that shorted yesterday for today's expiration, lost their collective asses today. Here is a GME link from Yahoo for the options board.  The top chart is the call side, the scroll down to the devastation of the put side... a blood bath. 

https://finance.yahoo.com/quote/GME/options?p=GME

The bloodbath for the shorts is for the sellers on the call side.

Losing 100 percent on a defined risk trade -- as is the case with the buyers on the put side -- isn't really a "bloodbath." It's just how things roll sometimes.

[MC Fresh Breath 4,074]

[hayden_horn 11,365]

2 minutes ago, Foosters said:

At the risk of being called a pussy, perhaps GW Hayduke can share some specific instances of AOC's divisiveness and how he would have liked her to act in the alternative? 

and, you know, maybe stop shitting up this thread and do that very thing on the aoc thread:

https://www.surlyhorns.com/board/index.php?/topic/3540-alexandria-ocasio-cortez /page/233/&tab=comments#comment-3024972

[Dahobbs 17,681]

GME starting a downward drop over the last hour. ~330 to ~280.  This is fun. 

[FondrenRoad 4,378]

4 minutes ago, Dahobbs said:

GME starting a downward drop over the last hour. ~330 to ~280.  This is fun. 

I briefly considered jumping in yesterday, but that bag seems too hot to handle. 

[Dahobbs 17,681]

5 minutes ago, FondrenRoad said:

I briefly considered jumping in yesterday, but that bag seems too hot to handle. 

Yeah. I also thought about yesterday afternoon as part of a fun gamble. 

[hayden_horn 11,365]

ok yall, i've carved out the aoc stuff and put it in the aoc thread. yall want to talk about her place in today's political landscape, that's the place to do it. yall want to talk about her commentary on the gme reddit short squeeze stuff, you can do it here and/or there.

thanks.

[Dahobbs 17,681]

https://arstechnica.com/tech-policy/2021/01/the-gamestop-bubble-is-going-to-hurt-a-lot-of-ordinary-investors/

Quote

 

You've probably seen stories about GameStop, the struggling video game retailer that has improbably seen its stock quintuple since the start of the week. The stock isn't up because GameStop announced strong financial results or a new turnaround strategy. Instead, it was the focus of a coordinated buying campaign by members of the WallStreetBets subreddit.

The effort has been so effective in part because its architects have convinced people that it's not just a pump and dump scheme. Instead, they've painted a seductive story in which retail investors found a loophole that allows them to make money at the expense of hedge funds and other wealthy investors who had shorted the stock.

In reality, most of the gains captured by early GameStop investors will come at the expense of later investors who will be left holding the bag when the stock falls.

 

Probably a lot of truth in here. Big funds with a short position will, for the most part, be able to come up with funds needed to keep their positions. But, their expected profit on their trades is definitely going to evaporate. 

[Beau Vine 54,429]

46 minutes ago, FondrenRoad said:

I briefly considered jumping in yesterday, but that bag seems too hot to handle. 

It's honestly a whole lot more profitable just to sit and laugh at the situation.

[henrygandorf 29,194]

1 hour ago, Dahobbs said:

GME starting a downward drop over the last hour. ~330 to ~280.  This is fun. 

now back up to $315.

the after hours shit is the real roller coaster ride.

[hayden_horn 11,365]

2 minutes ago, henrygandorf said:

now back up to $315.

the after hours shit is the real roller coaster ride.

yeah, i'm holding over the weekend, and my exposure is pretty low at 2 shares, but i'm hoping for some kind of crazy pop. i'm still not sure what the endgame is going to be.

[henrygandorf 29,194]

2 minutes ago, hayden_horn said:

yeah, i'm holding over the weekend, and my exposure is pretty low at 2 shares, but i'm hoping for some kind of crazy pop. i'm still not sure what the endgame is going to be.

the problem is sometimes the pop happens when you're unable to sell (or buy).  that was the frustrating thing about yesterday's shenanigans.

are you putting any aspirational sell orders in?

[hayden_horn 11,365]

2 minutes ago, henrygandorf said:

the problem is sometimes the pop happens when you're unable to sell (or buy).  that was the frustrating thing about yesterday's shenanigans.

are you putting any aspirational sell orders in?

you mean high limits? not yet. i may do. i'm still a total novice at this shit. i may put in something like $1000, but i'm not necessarily sure it will get that high. as it stands, i'm watching it like a hawk, but i'm holding. if i weathered that deep dive yesterday, i should be good for some volatility.

[henrygandorf 29,194]

1 minute ago, hayden_horn said:

you mean high limits? not yet. i may do. i'm still a total novice at this shit. i may put in something like $1000, but i'm not necessarily sure it will get that high. as it stands, i'm watching it like a hawk, but i'm holding. if i weathered that deep dive yesterday, i should be good for some volatility.

i'm clearly no expert either.  i treat it like i do predictit.  i buy something i think i can sell for more - it's not a long term situation.  but being on the west coast, a double episode of a spanish soap opera can happen before i even wake up.  so sometimes i'll put a high sell order in, just in case.  i've been on some of the groupings with gme, like amc and bb, and they'll have mini outbursts i've been unable to capitalize on.

so before i go to sleep, i'll throw some sell orders in, and around 5-6am i'll hear my gmail chirp, and hope that the order got filled.  since the majority of the unwashed masses (like us) don't have access to the pre/post market timing, i think a lot of the after hours probably has to do with the margin and covering some of the shorts.  the stocks in play have insane after hours movement some days.

[fakebusiness 129]

So did this end up being true? The WH said to stop trades?

Also, Yellen was paid 800k+ by Citadel. Does anyone see a conflict of interest here? Even CNN had concerns about her receiving millions from the banks she now regulates. 

[DalTxHornFan 3,117]

9 minutes ago, fakebusiness said:

So did this end up being true? The WH said to stop trades?

Also, Yellen was paid 800k+ by Citadel. Does anyone see a conflict of interest here? Even CNN had concerns about her receiving millions from the banks she now regulates. 

C'mon, man. She's the first Treasury Secretary that identifies as a female!

[BradInATX 9,208]

So did this end up being true? The WH said to stop trades?

Also, Yellen was paid 800k+ by Citadel. Does anyone see a conflict of interest here? Even CNN had concerns about her receiving millions from the banks she now regulates. 

Username checks out

[Continental Op 3,934]

I know that when I was a low level intern coder that I lost count of the number of discussions between the C-suite where I interned and the president that I was privy to.  

[fakebusiness 129]

5 hours ago, Continental Op said:

I know that when I was a low level intern coder that I lost count of the number of discussions between the C-suite where I interned and the president that I was privy to.  

And Yellen making millions from speeches & 800k directly from Citadel? Conflict of interest or nah?

[SKJ 1,311]

19 hours ago, Lobo said:

7 years in and you're just now getting around to looking at your deposit requirements on people who, in many cases, are not accredited investors, Mr. Tenev? 

And you admitted this on public TV.  I'm guessing you got a phone call 60 seconds later from Robinhood General Counsel.  You know your regulators watch this show, Vlad...right?  And by the smarmy resting face, you ain't gonna do well in federal prison.  

He'll go to a fucking camp... one of those joints called "club fed" since he's just a fraudster. 

Financial criminals get the best treatment

[Bateshorn 9,940]

6 hours ago, fakebusiness said:

And Yellen making millions from speeches & 800k directly from Citadel? Conflict of interest or nah?

I mean, financial firms paying the former Fed Head a bunch of money to give her thoughts on the global economy?  Fucking traitorous!!!!!

One of my favorite deep cut conservative memes is Democrats aren’t allowed to make money. 

[Mrs Whiggins 13,050]

12 hours ago, Continental Op said:

I know that when I was a low level intern coder that I lost count of the number of discussions between the C-suite where I interned and the president that I was privy to.  

Yeah, it's got the FW:FW vibe doesn't it?

I am picturing this Viking (user name) on his lunch break eating a burger being approached by this guy (below), "Hey, pssst. I'll give you a few Benjamins from my build the wall Wells Fargo account if you'll post this on your Facebook."

[Wulaw Horn 19,152]

So, this thing is fascinating. I’m watching it and learning about it strictly on the Surl bc that’s where I get almost all my news, what ended up happening on Friday- any intrigue or was that basically all over by Thursday. 
typically I’m on the side of order over chaos, but here it really feels like I’m rooting on the neck-beard redditors. Intentionally trying to kill a real life company is gross and disgusting. Viva la revolution here in this instance. 

[Beau Vine 54,429]

15 hours ago, fakebusiness said:

So did this end up being true? The WH said to stop trades?

Also, Yellen was paid 800k+ by Citadel. Does anyone see a conflict of interest here? Even CNN had concerns about her receiving millions from the banks she now regulates. 

Someone has already posted this stupid shit here. 

The White House did not call RobinHood and tell them to stop trading.  If the White House had wanted to stop trading in GME, they would have called the NYSE and had them stop trading. 

[Bateshorn 9,940]

Seriously, the Russian troll game on this board is a hot mess right now. 

[Dahobbs 17,681]

11 hours ago, fakebusiness said:

And Yellen making millions from speeches & 800k directly from Citadel? Conflict of interest or nah?

Your question is whether a private person getting paid for speeches is a conflict of interest? Of course not. If she were actually appointed at the time, probably. Query: did you have these same questions about Trump's appointments? If not, why not? [psst, we all know the answer to that]

[Judge Roybeanbag 11,821]

On 1/29/2021 at 12:39 PM, hayden_horn said:

and, you know, maybe stop shitting up this thread and do that very thing on the aoc thread:

https://www.surlyhorns.com/board/index.php?/topic/3540-alexandria-ocasio-cortez /page/233/&tab=comments#comment-3024972

Dude, you have to get with the program.  The thing is you have to bitch about AOC and Cuomo, and Newsom.  Because even though this is Texas and you can’t vote for them, they are socialist pigs who root in evil slop.   That’s the line the deplorables are going with.   Just go read the DT covid threads.  

[Guest Lobo]

6 hours ago, Mrs Whiggins said:

Yeah, it's got the FW:FW vibe doesn't it?

I am picturing this Viking (user name) on his lunch break eating a burger being approached by this guy (below), "Hey, pssst. I'll give you a few Benjamins from my build the wall Wells Fargo account if you'll post this on your Facebook."

I forget sometimes how much he looks like an older, but somehow more attractive, Rosie O'Donnell.  

Why are we not developing a gameshow called "Short Squeeze" starring eric Trump?  

[SydneyCarton 48,170]

So weve back concluded FakeBusiness is Fozz, right? Just a virulent piece of shit,  yes?

[Neonmoon 38,130]

Definitely something shit related 

[staboner 4,987]

On 1/29/2021 at 2:26 AM, cactusflinthead said:

Me sabe.

But, that's not who's getting the eye of the regulators nor who is getting shut out of making buys. 

Gamma delta theta math heads are having a hard time dealing with irrational behavior. That's been a recurrent problem with markets in general. The rational people can't figure out the irrational ones. And they're not going to. That was fine until it started fucking with their bottom line.

I can't explain the drive to fuck with hedge funds. Other than it appeals to both left and right to poke them with what appears to be a very sharp stick. After seeing companies run into the ground and losing their life savings in the process the hedge funds and Wall Street have made a lot of enemies.

My 2 cents. And I am just just getting around to digesting this bit.

I guess in my mind they are the government but don't have a R or D attached to them and therefore aren't subject to the complete hate factory (justified or not) that comes with election cycles, etc. 

The coming social assaults on big money will be glorious. It just takes one instance for people to go - oh yeah, thats what we should have been doing. 

Mixed with the eventual constriction of big tech - this is going to shake up the market here shortly. 1 year? 3 years? i don't know. But this will crash the market soon enough. All the money is just too fucking big and too fucking fake (shorting, really?) to be sustainable.

$9.95 prease

[fakebusiness 129]

8 hours ago, Dahobbs said:

Your question is whether a private person getting paid for speeches is a conflict of interest? Of course not. If she were actually appointed at the time, probably. Query: did you have these same questions about Trump's appointments? If not, why not? [psst, we all know the answer to that]

Absolutely. Trump is a crooked pos who is thankfully out of office. Him being a crooked pos doesn't mean the people after him are somehow immune from criticism. Please explain your logic to me.

[Dahobbs 17,681]

16 minutes ago, fakebusiness said:

Absolutely. Trump is a crooked pos who is thankfully out of office. Him being a crooked pos doesn't mean the people after him are somehow immune from criticism. Please explain your logic to me.

Oh, by all means, point at those posts then. I'm sure you can show evidence you were asking similar questions at the time.

As to your other question, I never said it was impossible for others to be crooked. I said getting paid for speaches while a private citizen with no expectation of being appointed isn't a an example of being crooked. 

[RDCanecutter 26,473]

Some rumbling about the Reddit boys pulling a short squeeze on silver this time. Online silver retailers are claiming to be sold out of anything that is not already marked up as collectible. Regular bars and common coins not to be found on selling sites.

[Willfully Horn 8,049]

4 minutes ago, RDCanecutter said:

Some rumbling about the Reddit boys pulling a short squeeze on silver this time. Online silver retailers are claiming to be sold out of anything that is not already marked up as collectible. Regular bars and common coins not to be found on selling sites.

Hope those dogs don’t Hunt. I’m partial to ‘em.

[RDCanecutter 26,473]

2 minutes ago, Willfully Horn said:

Hope those dogs don’t Hunt. I’m partial to ‘em.

Yeah, lots of this business reminds me of life back when I had Dazed and Confused hair.

[Royalfan5 2,355]

25 minutes ago, RDCanecutter said:

Some rumbling about the Reddit boys pulling a short squeeze on silver this time. Online silver retailers are claiming to be sold out of anything that is not already marked up as collectible. Regular bars and common coins not to be found on selling sites.

Maybe they all have secret second families in East Texas to support 

[workswithseed 2,111]

1 hour ago, RDCanecutter said:

Some rumbling about the Reddit boys pulling a short squeeze on silver this time. Online silver retailers are claiming to be sold out of anything that is not already marked up as collectible. Regular bars and common coins not to be found on selling sites.

So the silver I bought last year is looking good? 

[Bama Chick 28,596]

“So this online reading club was like, “Not today! We want hedges too!”.

I relate to this so hard.

[DonkeyCigars 143]

4 hours ago, Bama Chick said:

“So this online reading club was like, “Not today! We want hedges too!”.
 

 

I relate to this so hard.

 

I know it was done purposefully to elicit the awkwardness and cringe, but that is still one of the most painful monologues I've ever watched. Bravo for whatever is the opposite of ASMR.

[MaybeACoordinator 8,349]

On 1/28/2021 at 2:29 PM, Beau Vine said:

I once fouled out of a freshman intramural basketball game.  

The ref at the scorer's table told me, "Congrats, I've been doing this for three years and have never seen anyone pick up more than two fouls."

Got you beat: I was kicked out of a freshman intramural flag football game and asked to leave the entire complex, merely for knocking the snot out of a Fiji. 

On 1/28/2021 at 2:45 PM, High Plains Drifter said:

 

I got ejected for getting in a fight* during an intramural soccer (yeah, I know) game. The kicker is that the fight was against my own teammate.

Ref said something like "I've never ejected a player for fighting his own teammate".

 

*fight = wresting around on the ground, not actually throwing punches. Thrown punches happened later in the season during another game, against the opposing goalie. I was banned for the season after that.

 

 

Not you, my hat is off to you.

[Bateshorn 9,940]

17 hours ago, RDCanecutter said:

Some rumbling about the Reddit boys pulling a short squeeze on silver this time. Online silver retailers are claiming to be sold out of anything that is not already marked up as collectible. Regular bars and common coins not to be found on selling sites.

What the fuck is going on?  Are we doing a reboot of the 1896 election?  William Jennings Bryan to the MOOOOOOON!

[RDCanecutter 26,473]

16 hours ago, workswithseed said:

So the silver I bought last year is looking good? 

If I fix some eggs and bacon, put on clean clothes, and truck down to the coin shop, I can sell silver for better than $28/oz this morning, so if you bought it for less than that, you are probably good.

Me I don't think it's gonna hit 50/oz, but I am gonna hold on until it does, and then sell 1/4 of what I have at that price. These are completely made-up arbitrary numbers from inside my own head that make me happy. Dunno what I'll do if it gets to 40 and parks there. Maybe sell 1/8th of the Scrooge McCanecutter bullion swimming pool.

[Bateshorn 9,940]

Finding gold and silver bugs in the wild is always an eye opening experience. 

[RDCanecutter 26,473]

14 minutes ago, Bateshorn said:

What the fuck is going on?  Are we doing a reboot of the 1896 election?  William Jennings Bryan to the MOOOOOOON!

Personally I plan to invest in coal-fired orphan mills. [flicks cigar out of steam train Pullman car window, panicking buffalo herd with prairie fire.]

[Parliament 14,296]

The Wizzard of Oz was an allegory for the Silver Standard. Serious

[burntorangebongos 10,752]

But if you bought the silver on margin and hold for the silver to go up but it doesn't get there before your loan is called, then what? And how does this speculation help the overall economic situation?

The volatility caused by these traders is already affecting the rest of the market. The last great depression happened when banks speculated and lost money, eventually we ended up in a world war due to all the instability it caused. These speculators can gamble all they want and lose their money but I'm not sure gambling with borrowed money is good for the rest of us who don't want in.

[wildcat09 29,387]

No, you don't get it. When shit hits the fan, everyone is going to want gold. Not food, water, shelter, toilet paper, guns, ammo, or any other necessities. Gold will be the most valuable thing in the world.

[Captainant 27,769]

[RDCanecutter 26,473]

7 minutes ago, Bateshorn said:

Finding gold and silver bugs in the wild is always an eye opening experience. 

If you want a surreal experience, go to a coin show. Don't go inside. Just stand out in the parking lot and read the bumper stickers. I saw a few that were close to Hunter S. Thompson pineal-gland-extraction conspiracy.