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OverSword

Little Guy Crushing Hedge Fund Honchos

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Robotic Jew
19 minutes ago, OverSword said:

Seems to be a lot of false stories out there that say different.

 

The bigger part of that story however I think is Twitter completely ignoring her.  I'm sure there must be some conduct rule being broken, but not being on Twatter myself I don't know what it is.

She didn't accuse him of attempted murder.

She said he almost had her murdered....which is not the same thing and is not wholly inaccurate as a statement.

 

This is just more convenient pearl clutching by the hypocrite right.

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spartan max2
24 minutes ago, Robotic Jew said:

She didn't accuse him of attempted murder.

She said he almost had her murdered....which is not the same thing and is not wholly inaccurate as a statement.

 

This is just more convenient pearl clutching by the hypocrite right.

 

No she is clearly accusing him of trying to get her killed.

Quote

 

If a GOPer said something like this Twitter and everyone would be in a uproar.

 

All this for saying he agreed with her.

She is going to be the same type of populist that never gets things done like Bernie because she is too busy trying to stand out.

(For the record I think Ted Cruz is an idiot)

 

Edited by spartan max2
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OverSword
29 minutes ago, Robotic Jew said:

She said he almost had her murdered.

Ummm....nit picking just a bit there robotic one :yes:

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Robotic Jew
1 hour ago, OverSword said:

Ummm....nit picking just a bit there robotic one :yes:

Thanks Pot.

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OverSword

 

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spartan max2
30 minutes ago, OverSword said:

 

That was painful lol

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F3SS

I've been knee deep in this battle all week. Its crazy out there! Made a killing on AMC and Koss, my dogecoin surged like crazy yesterday. Finally joined the frontlines and bought 1 share of GME this morning. Holding it through next week. Got back in for 50 AMC this morning too. Holding to next week.

Robinhood has been completely maniacal. Yesterday they restricted purchases on all the target stocks. Sell only. This morning they opened trade back up. By the afternoon they restricted GME to buying 2 shares only, AMC to only 1 share. Crypto purchasing and selling is a total mess too. All under the guise of protecting US! Glad I was able to snag those 50 AMC shares this morning. Regret not buying a ton of GME in the beginning. I watched this idea form on reddit. I didn't fully understand the idea behind it. Oh well, there will be more opportunities. 

I love this fight but don't mistake me for the guy who's gonna go down with the ship. I'm willing to ride the volatility but I won't ride down to zero to teach wall street a lesson. I'm throwing a few punches but if the profit is insane I'm running away with it. 

IMG_30012021_004616_(500_x_464_pixel).jpg.2ed4e5c8fc0da54dc5ec0f5103c8a1f7.jpg

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F3SS

IMG_30012021_005349_(500_x_482_pixel).jpg.8e309fe8a5cf352c024b47df7fb5165e.jpg

 

IMG_30012021_005358_(500_x_693_pixel).jpg.3fb445b4248c45a26174986cc9586acd.jpg

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Peter B
On 1/29/2021 at 11:48 AM, spartan max2 said:

Short selling really is BS. It produces nonething. It does not help finance any business.

It literally just takes money.

I agree, but I would respectfully suggest that exactly the same criticism can be made of day trading. However if you disagree I'd be happy to reconsider.

The first point I'd like to make is that all sorts of financial processes (shares, currency trading, commodity trading, futures, and, AFAICT, shorting) have an underlying purpose in helping businesses do their business. There's nothing remotely controversial with the idea of, for example, two parties agreeing a price for the sale of a commodity months or years ahead of time to allow them both to lock in their costs.

The first problem arises when, instead of using these processes to help their businesses do their business, people use the processes purely to make money. And this is what day traders are doing - trading in shares in periods of weeks, days or even hours in the hope of making a buck from minor/random changes in the stock price rather than riding the business's fundamentals. Such trading contributes nothing to the businesses whose shares are being traded.

However, the more serious problem than that is when, instead of using these processes to purely make money, people use them punitively. And obviously, this is more dangerous when The Elite do this than when day traders do it, given the massive financial power of The Elite. The thing is, though, that it has always been a power that The Elite have been able to apply to those around them, from Marcus Crassus and his fire brigade in ancient Rome to allegations of Donald Trump not paying his bills. But drawing the line between acceptable and unacceptable use of these financial processes is hard, so I'd be curious to know how this sort of trading could be controlled legislatively. That really only leaves market pressure, such as has been happening with GameStop.

But there's another problem. While there's been lots of cheering for the small investors sticking it to The Elite, I'd suggest the situation isn't nearly as clear-cut as that. For one, I assume that it hasn't only been The Elite who'd been shorting GameStop and are therefore losing a lot of money: what do you say to small investors who, as part of their investment strategy also shorted GameStop, and are now also facing massive losses? Conversely, I assume that it hasn't only been small investors who've been profiting from the rise in the GameStop share price: what do you say to those of The Elite who, as part of their investment strategy bought shares in GameStop, and are now standing to make huge profits in comparison with the small investors?

Finally, there's the fact that the rise in GameStop's share price is out of all proportion to its fundamental financial position - in other words, a bubble. GameStop's financial position has been worsening over the last few years, and their Circle of Life program was ethically and financially questionable. Assuming the board members of GameStop own shares in the company, should they be able to profit from the increase in the share price despite the company's poor financial performance?

So yes, I fully understand the claims of hypocrisy, that The Elite have been complaining about behaviour applied to them which they've long been used to applying to others. But I'd suggest the situation is a little more nuanced than has been presented here.

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F3SS

Right now its definitely having an adverse affect on more stable stocks. My blue-chip longs are getting crushed. I think its a trifecta of the hedge funds liquidating their safer investments to cover their short positions, people liquidating their safer investments for a ticket to Mars on these meme stocks and those on the sidelines just generally being fearful of the market situation right now which always equates to a downtrend.

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DieChecker

I was reading about the various short sellers and their losses. Cry me a river... They only want to play by THEIR rules. Only the stocks THEY want to go up or down should move.

As a Intel employee and stock holder. I've seen the experts holding down some stocks while praising others so they grow. AMD is way overpriced, and they admit it, but still they label it a Buy. 

RE: AOC.... She's just a drama queen. No one should take her seriously.

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aztek

film__4453-trading-places-hi_res-d83f165

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Eldorado

Silver prices leapt to a five-month high on Monday on social media calls to buy the metal and emulate the frenzy that drove up GameStop shares.

Shares in a handful of smaller Australian mining firms surged as small-time traders bought en masse.

Argent Minerals, Boab Metals and Investigator Resources leapt more than 15%.

Coin-selling websites also reported unprecedented demand and flagged delays in delivering silver.

BBC report

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Peter B

This article by the Australian ABC's business editor provides some interesting information on the GameStop situation.

In particular, for those who are happy to see the hedge funds copping it as a consequence of shorting GameStop's stock, the author points out that these are the companies managing the investments of superannuation funds that many of us belong to.

A second point he makes is that GameStop's financial position is so dire the current spike in its share price is irrational. Sure, the little investors have stuck it to The Man for the time being, but the process is unsustainable - eventually reality will assert itself and GameStop's share price will return to something approaching what it was before. As the people holding shares at the moment are presumably going to want to lock in their profits, they're going to have to sell. But knowing the company's fundamentals, who's going to want to buy those shares when the price starts falling?

But the last point that I found interesting related to Elon Musk. Remember, he's the person quoted earlier in this thread as Tweeting his criticism of the concept of shorting. But he's also the head of Tesla Motors, which is apparently currently valued at more than Toyota, Volkswagen, Daimler, General Motors, BMW, Honda, Hyundai and Ford combined, despite earnings per share of about 80 cents on a share price of > $800. In other words, Tesla's share price is almost certainly in a bubble, like GameStop's almost certainly is.

In summary, for everyone heaping it on the hedge funds, is the creation of a share price bubble the best way to take them on? I suspect they're likely to be in a far better position to ride out the impending fall of GameStop's share price than retail traders are.

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President-Elect Acidhead

It's a big club and you ain't in it -George Carlin 

 

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DieChecker
1 hour ago, Peter B said:

This article by the Australian ABC's business editor provides some interesting information on the GameStop situation.

In particular, for those who are happy to see the hedge funds copping it as a consequence of shorting GameStop's stock, the author points out that these are the companies managing the investments of superannuation funds that many of us belong to.

A second point he makes is that GameStop's financial position is so dire the current spike in its share price is irrational. Sure, the little investors have stuck it to The Man for the time being, but the process is unsustainable - eventually reality will assert itself and GameStop's share price will return to something approaching what it was before. As the people holding shares at the moment are presumably going to want to lock in their profits, they're going to have to sell. But knowing the company's fundamentals, who's going to want to buy those shares when the price starts falling?

If those short sellers want to make a bunch, they should short GameStop now that its inflated. 

The Redit guys should get out and make bank.

Quote

In summary, for everyone heaping it on the hedge funds, is the creation of a share price bubble the best way to take them on? I suspect they're likely to be in a far better position to ride out the impending fall of GameStop's share price than retail traders are.

Several hedge funds have all but collapsed. I suppose they went All In against the Rediters, but failed.

https://www.cnbc.com/2021/01/31/melvin-capital-lost-more-than-50percent-after-betting-against-gamestop-wsj.html

These idiots piled 50% of their capital into this, and lost.

Quote

Hedge fund Melvin Capital Management lost 53% in January amid a record rally in GameStop, which the fund was betting against.

 

Is tearing down statues and looting Target the best way to protest racism, or police brutality? Likely not, but it is what we currently got.

I'd agree with whomever it was (Aztek?) Who said we probably should abolish short selling. I tend to not wish for more regulation, but this smacks of purposefully ruining companies just for profit. Not even due to completion, but only out of greed.

Then someone bucks the system and the fat cats complain their getting screwed. Cry me a river....

Edited by DieChecker

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President-Elect Acidhead
30 minutes ago, DieChecker said:

If those short sellers want to make a bunch, they should short GameStop now that its inflated. 

The Redit guys should get out and make bank.

Several hedge funds have all but collapsed. I suppose they went All In against the Rediters, but failed.

https://www.cnbc.com/2021/01/31/melvin-capital-lost-more-than-50percent-after-betting-against-gamestop-wsj.html

These idiots piled 50% of their capital into this, and lost.

 

Is tearing down statues and looting Target the best way to protest racism, or police brutality? Likely not, but it is what we currently got.

I'd agree with whomever it was (Aztek?) Who said we probably should abolish short selling. I tend to not wish for more regulation, but this smacks of purposefully ruining companies just for profit. Not even due to completion, but only out of greed.

Then someone bucks the system and the fat cats complain their getting screwed. Cry me a river....

No More regulation is not the answer. 

Understanding what just happened is the lesson. 

The little guy has just as much pull as the corporate guy! 

Allow the free market to sort it 

:D 

No Bailouts!

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DieChecker
7 minutes ago, President-Elect Acidhead said:

No More regulation is not the answer. 

Understanding what just happened is the lesson. 

The little guy has just as much pull as the corporate guy! 

Allow the free market to sort it 

:D 

No Bailouts!

What if the Cancel-er, Censorship billionaires get regulation passed by their lobbiests to stop the Rediters? Is not counter regulation the better option then simply letting the robber barons have their way?

:tu:

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President-Elect Acidhead
Just now, DieChecker said:

What if the Cancel-er, Censorship billionaires get regulation passed by their lobbiests to stop the Rediters? Is not counter regulation the better option then simply letting the robber barons have their way?

:tu:

Just curious.,..

What is counter regulation? 

:D

The rules are simple. 

 

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DieChecker
2 minutes ago, President-Elect Acidhead said:

Just curious.,..

What is counter regulation? 

:D

The rules are simple. 

 

Come'n man! To coin a phrase. :lol:

Sometime both sides of an equation need to be adjusted.

Edited by DieChecker
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DieChecker

Ah apparently the correct spelling is "C'mon man".

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ExpandMyMind
On 30/01/2021 at 5:46 AM, F3SS said:

I've been knee deep in this battle all week. Its crazy out there! Made a killing on AMC and Koss, my dogecoin surged like crazy yesterday. Finally joined the frontlines and bought 1 share of GME this morning. Holding it through next week. Got back in for 50 AMC this morning too. Holding to next week.

Robinhood has been completely maniacal. Yesterday they restricted purchases on all the target stocks. Sell only. This morning they opened trade back up. By the afternoon they restricted GME to buying 2 shares only, AMC to only 1 share. Crypto purchasing and selling is a total mess too. All under the guise of protecting US! Glad I was able to snag those 50 AMC shares this morning. Regret not buying a ton of GME in the beginning. I watched this idea form on reddit. I didn't fully understand the idea behind it. Oh well, there will be more opportunities. 

I love this fight but don't mistake me for the guy who's gonna go down with the ship. I'm willing to ride the volatility but I won't ride down to zero to teach wall street a lesson. I'm throwing a few punches but if the profit is insane I'm running away with it. 

IMG_30012021_004616_(500_x_464_pixel).jpg.2ed4e5c8fc0da54dc5ec0f5103c8a1f7.jpg

Those 50 AMC shares are going to fly you to the moon. It's worth way more than where it's at now, based on actual assets, never mind that it's been squeezed. Plus, they have over a billion in reserve and are the biggest movie company in the World. Once restrictions end that stock will skyrocket. Hold!

I bought a bunch of shares in BlackBerry because eToro won't show AMC for me in searches. They're also limiting buys of GME with no notice. Hearing Fidelity might be a better platform for casuals moving forward so going to look into it.

I also have a couple of GME shares I bought this morning. Just told the missus that I'm not selling even if it gets to 10k!

Also, have you seen what MSM has been saying about silver? Straight up lying that Redditors are now moving into that and trying to get viewers to buy that instead. Steer clear of silver!

 

Edited by ExpandMyMind
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ExpandMyMind
13 hours ago, President-Elect Acidhead said:

No More regulation is not the answer. 

Understanding what just happened is the lesson. 

The little guy has just as much pull as the corporate guy! 

Allow the free market to sort it 

:D 

No Bailouts!

Mate, shorting stock is literally selling stock that you don't own. They sold 140% of GME stock. 40% more than even existed!

If you can sell 40% of something that doesn't even exist, that isn't even yours to begin with, then **** aye the system needs more regulation. 

 

On 30/01/2021 at 6:00 AM, Peter B said:

what do you say to those of The Elite who, as part of their investment strategy bought shares in GameStop, and are now standing to make huge profits in comparison with the small investors?

**** 'em. We'll get them next time :lol:

Seriously though, make no mistake, the events of the past week and whatever happens with it in the future will change the stock market forever. When people working 9-5 realise (and they are) that if they come together they can **** over hedge funds and other billionaires and possibly make money as well, all from their smartphones, there could be an actual,significant redistribution of wealth.

Something has to give, that's for sure. There hasnt been such a wealth disparity in over 100 years and it can't continue.

 

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Cookie Monster
On 1/28/2021 at 8:26 PM, OverSword said:

 

Investors short sell hoping to make a easy buck.

Reddit posters start getting people to buy its shares. As the share price goes up the short sellers are forced to buy the shares to stop themselves loosing too much. The share price then rockets.

It will plummet soon once the roller coaster is over, which funnily enough will be a good time to short sell.

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ExpandMyMind
1 hour ago, Cookie Monster said:

It will plummet soon once the roller coaster is over, which funnily enough will be a good time to short sell.

It will only plummet if people sell. If enough people hold to put it into the top 500 list, then there will be no need to sell. 

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