Reddit messes with stock market

The Heretic · Feb 1, 2021

arakboss said:
I feel sorry for the latecomers to the gamestop party. That stock is dropping like rock. Those hedge fund guys are probably going to make money again riding it to the bottom like before. The moral of this story is that if you are going to play with the wallstreetbets type buyers, get in early and get out early.

Know when to hold and know when to fold

Flopsweat · Feb 1, 2021

The Heretic said:

Bump stocks of course.

bolus · Feb 1, 2021

arakboss said:
I feel sorry for the latecomers to the gamestop party. That stock is dropping like rock. Those hedge fund guys are probably going to make money again riding it to the bottom like before. The moral of this story is that if you are going to play with the wallstreetbets type buyers, get in early and get out early.

If the math is right, they are shorting on over 100% of the available stock. They cant drive the price into the ground if people dont sell.

They spent all day doing a short ladder attack selling back and forth to themselves to artificially lower the stock price to make it seem like everyone was panic selling. But the volume wasnt there.

Then the big drop was afterhours when the little people cant buy or sell, mostly the large institutions.

Again, if the math is right they have to buy all the stock eventually because they shorted >100% of it. and if this is the case, I'll be selling my handful of shares at $100,000 each even if I'm the only one left.

And if I wasted a bit of gambling money on watching Mevlin lose $53 Billion so far, it was money well spent, I dont really care if I get it back because its not like I sunk my life savings into it.

I raised my sell limit to $100,000 per share today. Supra here I come.

nehalemguy · Feb 1, 2021

The Heretic said:
Know when to hold and know when to fold

Yep.

SonicBlue03 · Feb 1, 2021

I love what they're doing. I've read more of Reddit in the past three days than the rest of my entire life. The bumps in my 401Ks are temporary, but the damage they could inflict on people who make money off the backs of failing businesses and lost jobs could sting for a while.

Just imagine what the media would be saying if this was on Trump's watch, AND the government was allegedly making calls like Biden's admin is doing off-record.

bolus · Feb 1, 2021

nehalemguy said:
Yep.

View attachment 818550

Look at what it is doing after hours and who is doing it (mostly the hedge funds who can manipulate after hours)

The drop when it turns blue is after hours. look at the bottom with the low volume trades the funds are doing to each other to make it look like the stock is tanking. No regular person is dumping stock at that time. Even the volume sold isnt enough to dump the value of the stock.

The as it hits the bottom lots of green buying volume. that's all institutions as well. Other institutional buyers are buying up all that cheep stock.

if these are the people who know how to run the stock market, why are the buying a ton of this stock aftermarket if it is worthless? Regular people like me cant even buy the stock during the day.

If anything, it clearly shows how much the game is rigged. We already know that, but these guys are doing it in broad daylight after the SEC says they are watching them.

Who breaks the law in front of the police? Desperate people and people paying off the police. I got a few hundred gambling that they are desperate.

Either way. dont listen to me. I actually dont know anything about this stuff.

But sometimes if it looks like a duck, quacks like a duck, its a duck. And right now, this stuff is way ducked up.

nehalemguy · Feb 1, 2021

bolus said:
Look at what it is doing after hours and who is doing it (mostly the hedge funds who can manipulate after hours)

View attachment 818558

The drop when it turns blue is after hours. look at the bottom with the low volume trades the funds are doing to each other to make it look like the stock is tanking. No regular person is dumping stock at that time. Even the volume sold isnt enough to dump the value of the stock.

The as it hits the bottom lots of green buying volume. that's all institutions as well. Other institutional buyers are buying up all that cheep stock.

if these are the people who know how to run the stock market, why are the buying a ton of this stock aftermarket if it is worthless? Regular people like me cant even buy the stock during the day.

If anything, it clearly shows how much the game is rigged. We already know that, but these guys are doing it in broad daylight after the SEC says they are watching them.

Who breaks the law in front of the police? Desperate people and people paying off the police. I got a few hundred gambling that they are desperate.

Either way. dont listen to me. I actually dont know anything about this stuff.

But sometimes if it looks like a duck, quacks like a duck, its a duck. And right now, this stuff is way ducked up.

Alot of what drove the price down today was people cashing out. Cramer summed this up on Friday when he stated "Take the home run. "You've already won." I think many took that advice to the bank. Combine that with buying restrictions and you get a $130 price drop.

At this point, I can't really fault hedge funds for shorting the stock again. The Reddit crowd drove GME to a unsupportable price. It will crash. That is inevitable and it will have been the Reddit crowd who ultimately created that short opportunity. Ironic huh.

-E-

bolus · Feb 1, 2021

nehalemguy said:
Alot of what drove the price down today was people cashing out. Cramer summed this up on Friday when he stated "Take the home run. "You've already won." I think many took that advice to the bank. Combine that with buying restrictions and you get a $130 price drop.

At this point, I can't really fault hedge funds for shorting the stock again. The Reddit crowd drove GME to a unsupportable price. It will crash. That is inevitable and it will have been the Reddit crowd who ultimately created that short opportunity. Ironic huh.

-E-

Yeah, that blip last week, when the institutions shut down trading to "save the market" which was to really derail the train illegally to stop it from getting to the station. Make it so regular people cant buy, cant play the game after hours, tell everyone in the media to keep on lying is probably their end game.
Either way, more fuel on the fire. They may get away with only a $50 billion loss, they may get away with no jail time like in 2008.

But many many more people know how the game is rigged now. If the people lose on this, they not only lost more money to greedy lying manipulative billionaires, they saw it happen right to their face this time.

This country needs to be flushed, the hand is on the handle now. Not going to take much to flush it.

albin25 · Feb 1, 2021

Man.... I really missed the boat all these years.
Seems that it's .... uuhhhmm.... "legal" .... to pay someone to steal something I don't own, and if I sell it for more than it was worth when the actual owner bought it, and as long as I return it before they miss it .... I get to keep all the money and pay my friend (the thief) a small service charge.... and the stock's real owner gets nothing.

I guess they call them "Hedge" funds.... 'cuz someone's gettin' clipped!

nehalemguy · Feb 2, 2021

Tuesday morning..

arakboss · Feb 2, 2021

nehalemguy said:
Tuesday morning..

View attachment 818814

It will come back up, not. I should have shorted this thing on Friday.

nehalemguy · Feb 2, 2021

arakboss said:
It will come back up, not. I should have shorted this thing on Friday.

$74 a share 30 minutes ago. Now $137!! I think they call that volatility.

-E-

Provincial · Feb 2, 2021

The "pros" drove the price down in after-hours trading overnight, when only they have access to the market. Once small investors could trade, the price floated up. Brazen market manipulation, with apparently no fear of enforcement action.

nehalemguy · Feb 2, 2021

Provincial said:
The "pros" drove the price down in after-hours trading overnight, when only they have access to the market. Once small investors could trade, the price floated up. Brazen market manipulation, with apparently no fear of enforcement action.

GME was down 60% ($135 dollars) during regular trading hours today. The reason for that is because all of the Reddit warriors rushed (too late) for the exits.

Even Dave "I'm never selling" Portnoy cashed out today for a $700k loss.

This GME venture was always doomed to crash. Blame WS if you must. Blame Robinhood if it makes you feel better. None of that negates the fact that GME was/still is a $20 stock.

-E-