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OverSword

Little Guy Crushing Hedge Fund Honchos

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Cookie Monster
8 hours ago, ExpandMyMind said:

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. 

You dont understand why its rocketing.

Its short sellers forced to buy the shares to stop their losses. Thats all that this is about. There has already been one exodus which should have been the signal to everyone who brought shares early to sell now.

The second rise is a counter buying spree which too will dip probably today or tomorrow. People need to sell to make their money. The price will collapse back down very soon to what it should be.

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spartan max2
5 hours ago, Cookie Monster said:

You dont understand why its rocketing.

Its short sellers forced to buy the shares to stop their losses. Thats all that this is about. There has already been one exodus which should have been the signal to everyone who brought shares early to sell now.

The second rise is a counter buying spree which too will dip probably today or tomorrow. People need to sell to make their money. The price will collapse back down very soon to what it should be.

Alot of the people are just small time in investors (think a couple hundred bucks) who do not care if they lose their money. They just want to hold. 

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ExpandMyMind
10 hours ago, Cookie Monster said:

You dont understand why its rocketing.

Its short sellers forced to buy the shares to stop their losses. Thats all that this is about. There has already been one exodus which should have been the signal to everyone who brought shares early to sell now.

The second rise is a counter buying spree which too will dip probably today or tomorrow. People need to sell to make their money. The price will collapse back down very soon to what it should be.

Considering my vast experience of the stock market, which amounts to around 7 days of "research" on a bat**** crazy Subreddit, I'm willing to concede that I don't know my ****.

I do have an idea of what's going on though, even if might have the terminology wrong.

At the end of my day I'm happy to gamble $1000 on the small chance that it might do its part in ****ing over a major hedge fund who has already lost billions.

I'll hold to zero on that chance and if it backfires I'll take the lesson and learn from it.

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ExpandMyMind
5 hours ago, spartan max2 said:

Alot of the people are just small time in investors (think a couple hundred bucks) who do not care if they lose their money. They just want to hold. 

That's myself exactly.

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OverSword
4 hours ago, spartan max2 said:

Alot of the people are just small time in investors (think a couple hundred bucks) who do not care if they lose their money. They just want to hold. 

Exactly.  It's like voting for trump, a protest about the current corrupt system.  These guys on Reddit saw a way to screw over some top tier investors who they feel have been screwing the little guy for years.  Hilariously guess who the mouthpieces are trying to blame in an effort to get the little guys on their side?

 

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Cookie Monster
49 minutes ago, ExpandMyMind said:

Considering my vast experience of the stock market, which amounts to around 7 days of "research" on a bat**** crazy Subreddit, I'm willing to concede that I don't know my ****.

I do have an idea of what's going on though, even if might have the terminology wrong.

At the end of my day I'm happy to gamble $1000 on the small chance that it might do its part in ****ing over a major hedge fund who has already lost billions.

I'll hold to zero on that chance and if it backfires I'll take the lesson and learn from it.

You would do better putting your money into JPM Asia Fund C Accumulation.

That is already more than 100% up after its small (a lot smaller than most shares) corona dip. Bearing in mind most of Asia isn`t in lockdown, and the west will likely be until the end of the year, I think you might find it will go up 100% again.

Edited by Cookie Monster

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ExpandMyMind
1 hour ago, Cookie Monster said:

You would do better putting your money into JPM Asia Fund C Accumulation.

That is already more than 100% up after its small (a lot smaller than most shares) corona dip. Bearing in mind most of Asia isn`t in lockdown, and the west will likely be until the end of the year, I think you might find it will go up 100% again.

I do have stock elsewhere but I literally just opened an account last week :lol:

So far I like it almost as much as poker.

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Cookie Monster
25 minutes ago, ExpandMyMind said:

I do have stock elsewhere but I literally just opened an account last week :lol:

So far I like it almost as much as poker.

Its addictive, but always remember not to make decisions off emotions or what you read. Make them off research and logic.

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OverSword

Newsweek vilifying the little guy:

Quote

 

Meanwhile, far-right activists and conspiracy theorists on the Telegram messaging service jumped on the chaos as validation of their ideologies and a potential recruiting event for disaffected users. Several tied the trading platform's actions to anti-Semitic conspiracy theories and blamed wealthy Jewish people for the decision.

One channel affiliating itself with the anti-government Boogaloo movement—whose heavily armed members often stand out at anti-government rallies thanks to their colorful Hawaiian shirts—was explicit in tying its anti-Semitic conspiracy theories to the GameStop saga.

"Only jews can manipulate markets! Not normal citizens!" the account—which has almost 10,000 followers—wrote on Thursday. The post set off a discussion in the comments, some users posting more anti-Semitic propaganda while others condemned the account owner for hate speech.

 

Oh all of you robin hood users sell your stock and quit this misguided attempt to play the same game as your masters or you'll all be  labeled as nazis

link

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spartan max2
2 minutes ago, OverSword said:

Newsweek vilifying the little guy:

Oh all of you robin hood users sell your stock and quit this misguided attempt to play the same game as your masters or you'll all be  labeled as nazis

link

*One guy on a message board says something crazy*

Media: "see, these people are racist and evil" 

 

You can always find someone on the internet saying something crazy if you look. It's dumb to broadstroke all the people doing something based on it.

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Bed of chaos

It will plummet. It's not about heroes 'saving' store, which operates like sleazy drug dealers (on trade in values). I'm glad redditors made bank but this is nonsense.

Anyway, I went to Gamestop yesterday. Almost half the games have yellow stickers (which u must order in advance). Also they raised  prices on literally everything. Furthermore Gamestop now wants about 400$ for PS4'S. Kick everyone in the teeth on the way out.

Edited by Bed of chaos

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OverSword
22 minutes ago, Bed of chaos said:

It will plummet. It's not about heroes 'saving' store

Pretty sure everyone understands that.  It's about screwing the big guy while he screwed the little guy.

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spartan max2
23 minutes ago, Bed of chaos said:

It will plummet. It's not about heroes 'saving' store, which operates like sleazy drug dealers (on trade in values). I'm glad redditors made bank but this is nonsense.

Anyway, I went to Gamestop yesterday. Almost half the games have yellow stickers (which u must order in advance). Also they raised  prices on literally everything. Furthermore Gamestop now wants about 400$ for PS4'S. Kick everyone in the teeth on the way out.

Gamestop has always been ****ty with prices.

Bringing in a dozen used games will get you like 4 bucks lol. Or atleast it use to.

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Bed of chaos
30 minutes ago, spartan max2 said:

Gamestop has always been ****ty with prices.

Bringing in a dozen used games will get you like 4 bucks lol. Or atleast it use to.

It's always been bad but now it's just ridiculous. I bought a PS4 there (about 2 years ago) for around 250$. Now they want 400$.  

Edited by Bed of chaos

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OverSword

Finally shorting explained

 

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Bed of chaos
3 hours ago, OverSword said:

Finally shorting explained

 

Thanks. I haven't really been following topic all week (never knew about GS, AMC stock restrictions). I'm just wondering what repercussions this has for local video games stores (if any?) w Gamestop on way out. My city only has only one (local place) and unfortunately they just raised prices on everything. I'm assume, corner the market then increase the price, tactic? I do sell games online and notice others trying to manipulate trending prices (mostly on older games/consoles) sometimes asking astronomical prices, but suppose that's another story.

 

Edited by Bed of chaos

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OverSword
1 minute ago, Bed of chaos said:

Thanks. I haven't really been following topic all week (never knew about GS, AMC stock restrictions). I'm just wondering what repercussions this has for local video games stores (if any?) w Gamestop on way out. My city only has only one (local place) and unfortunately they just raised prices on everything. I do sell games online and notice others trying to manipulate trending prices (mostly on older games/consoles) sometimes asking astronomical prices, but suppose that's another story.

 

Stocks aside let’s get real. The push for years has been to move to an entirely online format. The only reason the Xbox one has a cdrom is because gamers got wind of plans to have the console run games only through download and raised a huge stink. At some point there will be no physical stores dedicated to video games and that day is very near. The most popular and lucrative games are already there. They are free to download and play and make money selling upgrades.

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ExpandMyMind
1 hour ago, OverSword said:

Stocks aside let’s get real. The push for years has been to move to an entirely online format. The only reason the Xbox one has a cdrom is because gamers got wind of plans to have the console run games only through download and raised a huge stink. At some point there will be no physical stores dedicated to video games and that day is very near. The most popular and lucrative games are already there. They are free to download and play and make money selling upgrades.

There will be a market for physical games for quite some time yet I think (it'll be a while before anyone even tries fully online after the backlash that you mention). In fact, I don't think even the next gen of consoles will go fully digital. There's too much culture around it. Game collections and trading with friends or in stores. Most people can't afford to buy games full price all the time either.

And Gamestop always has an opportunity to move into adjacent markets so I don't think they're really in trouble at this moment in time. 

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F3SS
On 2/1/2021 at 2:31 PM, ExpandMyMind said:

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!

 

Well I'm up to 100 AMC now. Averaged down quite a bit and same with GME I'm at 16 shares now and averaged down tremendously. I'm good to wait while and if it goes way way down back to $13 I'll buy 100 more shares and my average will be not so far off. I'm gambling for sure but I'm not trying to invest long on these. This is my trading account. Don't ride it to zero though man. That's just getting bent over though I understand the sentiment behind it right now but definitely sell if by chance it reaches some crazy high number. 

And yes this silver thing is maddening. Its such a coordinated effort to gaslight the investors and redirect the publics attention away from buying more GME. It is 100% false that wsb gave up on gme and focused on pumping silver. It literally never happened. The media is simply lying and Citadel is likely paying them to do so. 

 

On 2/2/2021 at 7:50 AM, spartan max2 said:

Alot of the people are just small time in investors (think a couple hundred bucks) who do not care if they lose their money. They just want to hold. 

Sure many people are but the things I see on reddit are amazing. Theres no shortage of people posting their positions of millions of dollars or millions in losses with the same attitude as the guy with 200 bucks. Not selling! Down 7 million and not even worried! 

I dont know who these people are but there's a lot of people with a lot of money out there. Otoh, I worry about boneheads that put everything on the line. Just seen a guy post his position of 100k or so. Emptied his retirement account into GME today. Hope it works out but this type of frenzy brings stupid decisions and emotional attachment and that may lead to some seriously heavy red bags. There will much depression and a few suicides to come out of this event ntm plenty of divorces and wrecked relationships I'm sure. Then again, the market probably produces all that every day not matter what.

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Bed of chaos
On 2/2/2021 at 10:14 PM, OverSword said:

Stocks aside let’s get real. The push for years has been to move to an entirely online format. The only reason the Xbox one has a cdrom is because gamers got wind of plans to have the console run games only through download and raised a huge stink. At some point there will be no physical stores dedicated to video games and that day is very near. The most popular and lucrative games are already there. They are free to download and play and make money selling upgrades.

The PS5 offers a standard edition. Everyone I know wants one (opposed to digital). The next new consoles (PS, Xbox) won't arrive for seven years. So I'm not sure what u mean by "very near". Also I haven't seen any concrete evidence all companies (Microsoft/Sony/Nintendo) will be digital only next time around (though I believe they push for it). That's a dangerous move/marketing strategy, putting all ur eggs in one basket.

Next, many prefer owing physical copies (almost as many prefer books to kindles). I buy new games w the money from selling switch games (I've beat) on Ebay. Switch games still sell well cause Nintendo rarely lowers their price. Also there's still a huge market/fanbase for retro games and older consoles. Even instruction manuals for older games sell for hundreds of dollars. Things will eventually change but (most likely) not for (two more cycles of next gen consoles) 14 years. 

Edited by Bed of chaos

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OverSword
21 minutes ago, Bed of chaos said:

The PS5 offers a standard edition. Everyone I know wants one (opposed to digital). The next new consoles (PS, Xbox) won't arrive for seven years. So I'm not sure what u mean by "very near". Also I haven't seen any concrete evidence all companies (Microsoft/Sony/Nintendo) will be digital only next time around (though I believe they push for it). That's a dangerous move/marketing strategy, putting all ur eggs in one basket.

Next, many prefer owing physical copies (almost as many prefer books to kindles). I buy new games w the money from selling switch games (I've beat) on Ebay. Switch games still sell well cause Nintendo rarely lowers their price. Also there's still a huge market/fanbase for retro games and older consoles. Even instruction manuals for older games sell for hundreds of dollars. Things will eventually change but (most likely) not for (two more cycles of next gen consoles) 14 years. 

It's not just video games.  It's books, it's music, it's movies and television shows.  There is a push to go entirely virtual and if seven years doesn't seem like the near future to you you're younger than I am.  There used to be quite a few bookstores where I live there are now two and one is used books.  You can't find a record store, in the past there were huge stores that only sold music (and bongs:D)  The day of owning a new physical video game are coming to a close like it or not.  

Edited by OverSword

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Cookie Monster

I told you all to sell, how many did?

Its collapsed now.

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ExpandMyMind
14 hours ago, F3SS said:

Well I'm up to 100 AMC now. Averaged down quite a bit and same with GME I'm at 16 shares now and averaged down tremendously. I'm good to wait while and if it goes way way down back to $13 I'll buy 100 more shares and my average will be not so far off. I'm gambling for sure but I'm not trying to invest long on these. This is my trading account. Don't ride it to zero though man. That's just getting bent over though I understand the sentiment behind it right now but definitely sell if by chance it reaches some crazy high number. 

And yes this silver thing is maddening. Its such a coordinated effort to gaslight the investors and redirect the publics attention away from buying more GME. It is 100% false that wsb gave up on gme and focused on pumping silver. It literally never happened. The media is simply lying and Citadel is likely paying them to do so. 

 

Sure many people are but the things I see on reddit are amazing. Theres no shortage of people posting their positions of millions of dollars or millions in losses with the same attitude as the guy with 200 bucks. Not selling! Down 7 million and not even worried! 

I dont know who these people are but there's a lot of people with a lot of money out there. Otoh, I worry about boneheads that put everything on the line. Just seen a guy post his position of 100k or so. Emptied his retirement account into GME today. Hope it works out but this type of frenzy brings stupid decisions and emotional attachment and that may lead to some seriously heavy red bags. There will much depression and a few suicides to come out of this event ntm plenty of divorces and wrecked relationships I'm sure. Then again, the market probably produces all that every day not matter what.

I don't think it can go to zero if people just don't sell their stock, and Gamestop have just made the big expected announcement that they're going to basically become an ecommerce giant. With Amazon's products being severely diluted by Chinese and others basically copying successful sellers on there, there will very soon be a huge market for another ecommerce player. 

In fact, I'll bet that's why Bezos has chosen now to step down. Amazon is a giant streaming pile of **** that's too deep into the sewer to wade out now. 

I'm not selling my shares anyway, even if it goes to 0. Quite simply I don't give a **** lol. I'd rather gamble money I can afford to lose on the small chance that there will be a payout. And I do think GME will go up eventually. Not even accounting for the shorts and squeezes they're in too good a position not to.

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Gromdor

I've always been a buy and hold kind of guy for the long haul.  Between brokerage fees, capital gains taxes, and just plain timing your buys/sales right day trading hasn't been my style.  Gamestop is/was a troubled company and with online stores like Steam and Epic Games I had serious misgivings about the whole trying to mess with the hedgefund thing.  If it was a company I was sure was going to recover and gain value I might have dumped a few grand into it as an experiment but it was never on my radar as a true investment.  When the selling starts and everyone starts to leave, someone has to be left holding the basket.  Ironically anyone who short sold off this whole trend would have made a killing.

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Cookie Monster
12 hours ago, ExpandMyMind said:

I don't think it can go to zero if people just don't sell their stock, and Gamestop have just made the big expected announcement that they're going to basically become an ecommerce giant. With Amazon's products being severely diluted by Chinese and others basically copying successful sellers on there, there will very soon be a huge market for another ecommerce player. 

In fact, I'll bet that's why Bezos has chosen now to step down. Amazon is a giant streaming pile of **** that's too deep into the sewer to wade out now. 

I'm not selling my shares anyway, even if it goes to 0. Quite simply I don't give a **** lol. I'd rather gamble money I can afford to lose on the small chance that there will be a payout. And I do think GME will go up eventually. Not even accounting for the shorts and squeezes they're in too good a position not to.

The invest in Amazon propaganda has started already on several sights.

Why one might ask? Well Amazon shares rocketed over Xmas due to the lockdown. But as the vaccine is here its share prices will now decline back to what they would have been without coronavirus.

On top of that Benzos has completed the Amazon mission, so unless there are plans to expand into numerous new countries its share price isn`t going to go much higher.

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