Robinhood

[HarleyDog]

(01-28-2021, 08:22 PM)Au165 Wrote: It honestly looks more like a liquidity move now. The system was not built for the volume and having to cover for two days at the clearing house has caused brokerages to be scared they'd be stuck broke. Thomas Peterffy of Interactive Broker was on TV basically admitting he shut down trading of these stocks to protect himself and the middle men. He went on to say that they will allow buying when prices go back to normal, this was after laughing at the price and saying that's not normal.

Yes, that is as insane as it sounds. You have the Chairman of a brokerage telling a live audience HE decides what is a fair price for a stock and he will tell retail investors when they can buy it. He also noted that he doesn't think Short Squeezes should be allowed and noted the calls tomorrow as another reason why he needed to protect the "market". If you are wondering what all this means...

WE HAVE A LIVE VIDEO TAPED ADMISSION OF MARKET MANIPULATUIN!

What we've seen in 2 days tells us a lot of what's been going on behind the scenes. I can tell you these guys on Redditt are not giving up. GME finished the days down 44.29% but is up 59.25% in after hours so far and there's still more than an hour left. The politicians speaking out has helped, but with this much money at stake, Wall Street really don't give a shit. They will stop the trading again on this tomorrow. However, I don't think people will be as feared to sell as they were today.

I truly wished I understood all this short sell stuff and how it worked. I tried practicing today on Wall Street Survivor and although I didnt know what I was doing, I made money at it. Fake money of course. But I don't know how to buy on hopes a stock will go higher? This shit has really gained my interest. Next time these guys get in for the ride, I would like a good knowledge to know if I should ride along.

[Au165]

(01-28-2021, 08:44 PM)HarleyDog Wrote: What we've seen in 2 days tells us a lot of what's been going on behind the scenes. I can tell you these guys on Redditt are not giving up. GME finished the days down 44.29% but is up 59.25% in after hours so far and there's still more than an hour left. The politicians speaking out has helped, but with this much money at stake, Wall Street really don't give a shit. They will stop the trading again on this tomorrow. However, I don't think people will be as feared to sell as they were today.

I truly wished I understood all this short sell stuff and how it worked. I tried practicing today on Wall Street Survivor and although I didnt know what I was doing, I made money at it. Fake money of course. But I don't know how to buy on hopes a stock will go higher? This shit has really gained my interest. Next time these guys get in for the ride, I would like a good knowledge to know if I should ride along.

You don't want to be involved in short selling. I had a buddy in college who got caught short in a bank that got bailed out and he lost a shit ton. With normal stocks you can only lose your investment, when you sell short you can lose an unlimited amount of money. The other issue is the brokerage can call your short and force you to cover before you'd like to.

What the guys on Wallstreetsbets, and everyone else who is in the know, are doing is they are finding stocks that have a really high short float. What that means is the ratio of total available shares to short position is high. When you sell short you have borrowed shares to sell now on the promise you'll buy back later. Well in the case of Gamestop there were more shares shorted than available which means when they had to cover the short sellers would be desperate because there was no supply. No one is as leveraged as Gamestop however there are many others who are highly shorted that are now being targeted similarly. 

[HarleyDog]

Man, these members of WallStreetBets are not backing down and finding ways to invest. Their chatroom has been fun to read. What a story. 

[wildcatnku24]

(01-29-2021, 10:32 AM)HarleyDog Wrote: Man, these members of WallStreetBets are not backing down and finding ways to invest. Their chatroom has been fun to read. What a story. 

BB to the moon!  

[HarleyDog]

(01-29-2021, 12:34 PM)wildcatnku24 Wrote: BB to the moon!  

DFV posted his account balance yesterday. Impressive.

[BigPapaKain]

This has been the most fun I've had on the internet since the day after the presidential debate.

[Sociopathicsteelerfan]

(01-29-2021, 04:33 PM)BigPapaKain Wrote: This has been the most fun I've had on the internet since the day after the presidential debate.

You missed out on some epic times in the late 90's-early 2000's then. 

[Belsnickel]

(01-29-2021, 04:45 PM)Sociopathicsteelerfan Wrote: You missed out on some epic times in the late 90's-early 2000's then. 

Are you on some Jeremy Bearimy timeline or something where the 90s-00s were in the last year? 

[Sociopathicsteelerfan]

(01-29-2021, 04:56 PM)Belsnickel Wrote: Are you on some Jeremy Bearimy timeline or something where the 90s-00s were in the last year? 

How dare you point out my lack of reading comprehension. 

[BigPapaKain]

(01-29-2021, 04:45 PM)Sociopathicsteelerfan Wrote: You missed out on some epic times in the late 90's-early 2000's then. 

I most certainly did not. I spent most of those years on the internet (Diablo 2 specifically).

The internet has just been boring or horrifying since the debates (Covid, Covid, coup attempt, Covid) 
.

[HarleyDog]

(01-29-2021, 04:33 PM)BigPapaKain Wrote: This has been the most fun I've had on the internet since the day after the presidential debate.

[Goalpost]

Looks like Silver is what people are buying today.

[Au165]

(02-01-2021, 12:34 PM)Goalpost Wrote: Looks like Silver is what people are buying today.

It's actually a push from institutions being "sold" as the Reddit crowd. That will be the new thing for the foreseeable future, "Reddit is targeting X!" but in reality the main guys in Gamestop have not moved to anything else because there is no "next Gamestop". The finance media was pushing Silver last week and magically this week it's "reddit is pushing it!"...Nah. You can't squeeze Silver, large institutions hold silver, the whole logic of why they would push it makes no sense.

[Goalpost]

(02-01-2021, 12:39 PM)Au165 Wrote: It's actually a push from institutions being "sold" as the Reddit crowd. That will be the new thing for the foreseeable future, "Reddit is targeting X!" but in reality the main guys in Gamestop have not moved to anything else because there is no "next Gamestop". The finance media was pushing Silver last week and magically this week it's "reddit is pushing it!"...Nah. You can't squeeze Silver, large institutions hold silver, the whole logic of why they would push it makes no sense.

Off subject but i don't consider commodities a bad buy but they ran up preceding this.  They are a diversification option to me.  Not sure in the future if bitcoin influences commodities like gold or silver in perhaps a negative way. 

[Au165]

(02-01-2021, 12:57 PM)Goalpost Wrote: Off subject but i don't consider commodities a bad buy but they ran up preceding this.  They are a diversification option to me.  Not sure in the future if bitcoin influences commodities like gold or silver in perhaps a negative way. 

Silver was undervalued for sure, it is just being "sold" right now as the trendy Reddit play, that is the thing that bothers me in all of this. Institutions aren't dumb, they actually rode GME up to hedge some of their short positions. 

[Rotobeast]

(02-01-2021, 01:00 PM)Au165 Wrote: Silver was undervalued for sure, it is just being "sold" right now as the trendy Reddit play, that is the thing that bothers me in all of this. Institutions aren't dumb, they actually rode GME up to hedge some of their short positions. 

I'll be honest..... I started pushing the Reddit folks on Thursday to to take the gains from Gamestop, push Silver to $40-50/oz, sell, then come back to wreak havoc on the hedges with almost twice as much money. Silver should be at $40-50/oz though. 

This is not saying that they actually listened to ME.
Unless you're holding a nice stash and want to laud me with Morgans or Eagles.

[Rotobeast]

Oh FWIW, I'm also being told that metals are being bought up as a hedge against Biden pushing the $15/hr minimum wage.

[Au165]

(02-01-2021, 02:23 PM)Rotobeast Wrote: I'll be honest..... I started pushing the Reddit folks on Thursday to to take the gains from Gamestop, push Silver to $40-50/oz, sell, then come back to wreak havoc on the hedges with almost twice as much money. Silver should be at $40-50/oz though. 

This is not saying that they actually listened to ME.
Unless you're holding a nice stash and want to laud me with Morgans or Eagles.

I never played GME because it was a bubble that lost too much volume late in the week. I had a NAKD position I was up big on took a slight hit off my high and moved out of with nice profit. Got into SNDL on heavy volume early today and am up pretty good in early trading. I am huge on volume bringing momentum and these momentum plays are dead as soon as they drop below the average volume. I normally only get in when they are on pace to trade double average volume in the 1st hour.

Side note, this isn't investment advice to anyone reading. This is more like gambling advice for what it's worth.

[Rotobeast]

(02-01-2021, 03:22 PM)Au165 Wrote: Side note, this isn't investment advice to anyone reading. This is more like gambling advice for what it's worth.

It's always gambling, for we pee-ons...lol

[BigPapaKain]

The free market is good. The free market is great.

Until peasants start making money on it.

Then the same people who are beholden to the greatness of the free market start screaming 'RRRRREEEEEEEE' and decide they want to change the rules.