Just curious... anybody dabble in the stock market?
#122
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It's different than the traditional pump and dump hence ponzi scheme. This particular case is a stock that was overshorted (e.e. 140% of float). Hedge funds borrowed stock, sold - hoping to buy it at a lower point - but instead the crazies at wsb saw that it was overleveraged and started buying ridiculous amount of stock. Come expiration...... the hedge funds that BORROWED the stock need to get it back to give back to the one they borrowed it from. They need to buy stock. If everyone who has the stock refuses to sell, the price keeps going up. This usually never happens because there's never this amount of unity. In addition, a stock has never been this overshorted - with someone noticing.
So. The price is set by the weakest link. If enough people sell at $1k for the shorters to gather back their positions, the game is done. If people hold until $10k - then the price might be $10k, and so on and so forth.
So. The price is set by the weakest link. If enough people sell at $1k for the shorters to gather back their positions, the game is done. If people hold until $10k - then the price might be $10k, and so on and so forth.
#123
Retired Mech Design Engr
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It's different than the traditional pump and dump hence ponzi scheme. This particular case is a stock that was overshorted (e.e. 140% of float). Hedge funds borrowed stock, sold - hoping to buy it at a lower point - but instead the crazies at wsb saw that it was overleveraged and started buying ridiculous amount of stock. Come expiration...... the hedge funds that BORROWED the stock need to get it back to give back to the one they borrowed it from. They need to buy stock. If everyone who has the stock refuses to sell, the price keeps going up. This usually never happens because there's never this amount of unity. In addition, a stock has never been this overshorted - with someone noticing.
So. The price is set by the weakest link. If enough people sell at $1k for the shorters to gather back their positions, the game is done. If people hold until $10k - then the price might be $10k, and so on and so forth.
So. The price is set by the weakest link. If enough people sell at $1k for the shorters to gather back their positions, the game is done. If people hold until $10k - then the price might be $10k, and so on and so forth.
For the good answer, allow me to bring your count back to zero.
#124
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Ohooo. Thankyou! wsb = wallstreetbets. They're currently being demonized on the media. People on there are like "why are they treating us like this?!?!" It just took a week to forget what the elites do to someone/group that goes against the natural order. Hedge funds screw individuals - no problem. Individuals band together and screw hedge funds - HELP MEEEE PLEASSEEEEEE, THEYRE BEING MEANNNNN.
And I wanted to correct myself - there's not an exact expiration since that only applies to options - which in that case, you could just rebuy the contract to close it off. These were shorted shares that....will at some point... need to be paid back. It all comes down to whether or not the borrower believes that the price will come down "if I wait long enough" vs the borrowee (?) says "I want my shares back now, since I don't think you'll be able to afford it if it keeps going up."
On an aside - it'd be a massive troll move if it turns out DFV unveils himself as DJT.
And I wanted to correct myself - there's not an exact expiration since that only applies to options - which in that case, you could just rebuy the contract to close it off. These were shorted shares that....will at some point... need to be paid back. It all comes down to whether or not the borrower believes that the price will come down "if I wait long enough" vs the borrowee (?) says "I want my shares back now, since I don't think you'll be able to afford it if it keeps going up."
On an aside - it'd be a massive troll move if it turns out DFV unveils himself as DJT.
#125
What do you people think will be the next "**** the hedge funds" play (or if there will be one at all)?
AMC, BB, NOK all look like they could be the next GME...
Also, give this video a watch/listen to hear one of the big and very rich investors tell CNBC to **** off... https://www.youtube.com/watch?v=hu-z...ature=youtu.be
AMC, BB, NOK all look like they could be the next GME...
Also, give this video a watch/listen to hear one of the big and very rich investors tell CNBC to **** off... https://www.youtube.com/watch?v=hu-z...ature=youtu.be
#127
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What do you people think will be the next "**** the hedge funds" play (or if there will be one at all)?
AMC, BB, NOK all look like they could be the next GME...
Also, give this video a watch/listen to hear one of the big and very rich investors tell CNBC to **** off... https://www.youtube.com/watch?v=hu-z...ature=youtu.be
AMC, BB, NOK all look like they could be the next GME...
Also, give this video a watch/listen to hear one of the big and very rich investors tell CNBC to **** off... https://www.youtube.com/watch?v=hu-z...ature=youtu.be
There won't be. GME is a once in a lifetime squeeze to **** the hedge funds. After the dust all settles, I doubt we ever see any stocks so cheap, shorted so much, that can build a fan base around it.
#128
I think it might not be a bad time to take your gains and run - the MA Sec of State is calling on the exchange to halt trading in GME for 30 days, and I imagine there will be more to come. One of the great unfortunate truths is that politicians of every stripe are in the pockets of the money men. This kind of thing is likely to threaten too many of their big-$ buddies, so it must be nipped in the bud.
Not a promising sign when this story starts showing up in the local morning news.
Not a promising sign when this story starts showing up in the local morning news.
#129
I think it might not be a bad time to take your gains and run - the MA Sec of State is calling on the exchange to halt trading in GME for 30 days, and I imagine there will be more to come. One of the great unfortunate truths is that politicians of every stripe are in the pockets of the money men. This kind of thing is likely to threaten too many of their big-$ buddies, so it must be nipped in the bud.
Not a promising sign when this story starts showing up in the local morning news.
Not a promising sign when this story starts showing up in the local morning news.
#133
#134
I thing GME finishing above $200 today was a win, despite the day as a whole.
Today was a blatant short ladder attack that was executed by the hedge funds after they schemed to significantly reduce the number of retail investors that have previously combatted these short attacks.
If you look at the volume, this strategy was effective at driving the price way down, but didn’t cause that much of a “scare sell-off” and even with the lack of retail buyers, the price quickly recovered back to $200/sh and above.
To me, it felt like today was the hedge funds last haymaker...thrashing in their death throes. If RH and the other con artist Brokers open GME purchases back up to everyone there’s a possibility the price recovers more tomorrow and another Gamma squeeze will begin.
The fraud executed today is so blatant, it’s mind boggling...
Today was a blatant short ladder attack that was executed by the hedge funds after they schemed to significantly reduce the number of retail investors that have previously combatted these short attacks.
If you look at the volume, this strategy was effective at driving the price way down, but didn’t cause that much of a “scare sell-off” and even with the lack of retail buyers, the price quickly recovered back to $200/sh and above.
To me, it felt like today was the hedge funds last haymaker...thrashing in their death throes. If RH and the other con artist Brokers open GME purchases back up to everyone there’s a possibility the price recovers more tomorrow and another Gamma squeeze will begin.
The fraud executed today is so blatant, it’s mind boggling...
#136
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On a side thought. Couldn't these hedge funds just buy calls and let the sueeze happen? Price goes up, their calls skyrocket, and then they close out their calls, and use the money to buy back shares? I think I'm missing an intermediate step.
#139