2021 Stock Market

[LeaningCy]

Good thread for anyone else getting up to speed on WSB and GME:

 

[CycloneDaddy]

We might be married to the same person.

Well I hope you arent getting laid either or else Im going to be pissed

 

[BCClone]

You are better then me, I look at all my financial accounts daily (401, 529s, brokerage accts). I ask my wife like once a quarter her 401 balance and she acts like Im pulling her teeth out.

I might look twice a year at my retirement accounts. My wife’s maybe every 18 months or so. I plan to just let the kids have them and let the business incomes take care of me so I just make sure someone isn’t stealing from me.

 

[ClonesFTW]

We've been ****** so long by wall street execs telling them they know more than us and make us pay obscene fees. They're scared that the retail investors can trade cheaply or freely and have open forums about discussing trades and strategy. "You just don't know any better. Pay me 1.5% (and I won't even beat an index etf)"

Their livelihood is disappearing in front of their eyes. They make things purposely complicated and manipulate markets on their own for their own profit to **** over the little guy.

"Work smarter, not harder" but "not like this" **** off Wall Street. You deserve to pay for 2008 and ******* over a generation of the workforce. Time to eat your shitcake

Easy, I agree with you. Just saying, when the suits are upset they are going to press for it. Twitter is already beginning to censor WSB accounts from appearing in the search bar for example.

 

[JM4CY]

Easy, I agree with you. Just saying, when the suits are upset they are going to press for it. Twitter is already beginning to censor WSB accounts from appearing in the search bar for example.

Such bullsh*t.

 

[Dr.bannedman]

I have $6 March calls I bought when AMC was at $4.30ish. We're at $8.25 after hours...

Let's ******* go

+115% over night

 

[ISUCyclones2015]

CNBC just bashed Gamestop and AMC on air and sent both tumbling. Gamestop went down like $90 so far.

Is that not "manipulation"? The only thing they have is a phone call with Melvin Capital, one of the short sellers that benefits greatly the more it goes down. Even said it didn't verify the claim.

 

[ClonesFTW]

Interesting... If true

 

[keepngoal]

this is incredibly interesting, and incredibly scary.

 

[Tailg8er]

+115% over night

Yeah, I put a limit order in last night to try to get in on this (talking peanuts here, just trying to have some fun), but it's looking like that won't be happening.. Think it will continue to climb today or could we see some dips? What do you guys think is a realistic target for like a week/month?

 

[ISUCyclones2015]

Yeah, I put a limit order in last night to try to get in on this (talking peanuts here, just trying to have some fun), but it's looking like that won't be happening.. Think it will continue to climb today or could we see some dips? What do you guys think is a realistic target for like a week/month?

It's another short squeeze play. My calls expire 3/19 if that matters to you at all. I plan on getting out sooner rather than later.

Long term though I do like cheaper entertainment stocks in general as we announce more covid vaccinations and slowly getting back to "normal".

 

[keepngoal]

what part I don't' understand in this short sale saga.... when does Melvin have to pay and then why then?

Couldn't they hold on to their shorts for as long as they need them?

TIA

EDIT: when they short, they must put an end date? Or when someone says I want my stocks back.

 

[ISUCyclones2015]

what part I don't' understand in this short sale saga.... when does Melvin have to pay and then why then?

Couldn't they hold on to their shorts for as long as they need them?

TIA

Whoever they borrowed the shares from (I thought I heard it was JPMORGAN) could force them to pay up depending on their borrow terms since it's effectively margin. And if I gave them the shares, I would be very antsy they could afford to give me my money back. Happens to these WallStreetBets guys all the time and Robinhood shuts their account down and sends it to collections.

 

[ISUCyclones2015]

Whoever they borrowed the shares from (I thought I heard it was JPMORGAN) could force them to pay up depending on their borrow terms since it's effectively margin. And if I gave them the shares, I would be very antsy they could afford to give me my money back. Happens to these WallStreetBets guys all the time and Robinhood shuts their account down and sends it to collections.

Then if the shorts were in the form of puts, they expire every Friday at close.

 

[ISUCyclones2015]

Interesting... If true

I find it hard to believe because why would they wait till 5am on a Wednesday to say it over the phone. Should've been an interview on live TV. They better hope it's true because that's an easy manipulation case if they come out and say that and then pull out

 

[keepngoal]

Whoever they borrowed the shares from (I thought I heard it was JPMORGAN) could force them to pay up depending on their borrow terms since it's effectively margin. And if I gave them the shares, I would be very antsy they could afford to give me my money back. Happens to these WallStreetBets guys all the time and Robinhood shuts their account down and sends it to collections.

so reality could be JPMorgan and Melvin can work together to sit this out and wait. JP knowing Melvin can't pay it all.

Of it is was in the form of a put, Melvin is really screwed.

 

[ianoconnor]

I find it hard to believe because why would they wait till 5am on a Wednesday to say it over the phone. Should've been an interview on live TV. They better hope it's true because that's an easy manipulation case if they come out and say that and then pull out

Yea, I don't believe that CNBC "article" for a second. Nice try, Melvin.

 

[ISUCyclones2015]

so reality could be JPMorgan and Melvin can work together to sit this out and wait. JP knowing Melvin can't pay it all.

Of it is was in the form of a put, Melvin is really screwed.

Yea they could but the issue is there was 40% of naked shorts meaning people borrowed stocks on... Borrowed stocks. It's illegal for normal investors to do that but Market Movers are allowed to. So whoever is on the low end of the totem pole could set off a chain reaction where there's a section of these shorts that have to close causing others to close etc etc. It's fascinating.

The puts are crazy volatile right now. Who knows how those are gonna end up but there's like 70million shares worth expiring in the next month of something crazy like that?

 

[ISUCyclones2015]

this is incredibly interesting, and incredibly scary.

There's gonna be a group of retail investors that buy at the top with their life savings or on some stupid margin. Probably a college kid. They might self-destruct or worse. It's happened before on WallStreetBets. I believe it was a 18-19 year old that accidentally found a semi bug in the Robinhood app that basically allowed him to 100x his margin with some condor spread call. He lost 2.5 million and took his life.

It will then be used as a story for regulating retail investors out of these types of investment

 

[Tailg8er]

Yea they could but the issue is there was 40% of naked shorts meaning people borrowed stocks on... Borrowed stocks. It's illegal for normal investors to do that but Market Movers are allowed to. So whoever is on the low end of the totem pole could set off a chain reaction where there's a section of these shorts that have to close causing others to close etc etc. It's fascinating.

The puts are crazy volatile right now. Who knows how those are gonna end up but there's like 70million shares worth expiring in the next month of something crazy like that?

Is there a good site to see stats like that 70 million expiring in the next month? Or even real-time data on percent shorted (think I saw GME is still at like 102%)?