GME up over 100%.... what is going on now?

lc3 said:
Again...everything seen by the market is priced in. If you know these checks will slowly hit the trading accounts, the market makers who price this thing also know it. Only the unexpected can change pricing.
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With GME, there is no "market". It is it's own entity. That's why it has been in the news lately.
 
GoogTgt said:
Can someone tell me why my suggestion is a bad idea? I'm just trying to learn to trade better from professional traders like you. I figured GME is going to range bound between 250 and 300 till the earnings come out. So I suggested salty to short at the upper bound and close at the lower bound. I have done that quite a bit with stocks that have solid fundamentals like aapl, msft and made around 200k profit on such trades last year, buying them in thousands (2000 to 3000 shares) at the lower bound. I cannot do the same with GME as that thing can crash or soar anytime and I don't want to be left holding the bag but when you are talking about 4 shares, and range of $25, you can keep making $100 profit everyday. That is peanuts but is free money for minimal risk of 4 shares. What is the flaw in this logic?
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First of all impressive gains, so I might not be the right one to comment on this lol. I think the biggest flaw is the range on this thing. It has no range. It could go wherever it wants as fundamentals does not matter. TA works but you saw what happened on Wed. It creates a new range every day with larger and larger intraday volatility. Trading it last week would be a good idea but I just did not believe that it could go up like that with no sudden crash for 5 days in a row...
 
Overnight said:
With GME, there is no "market". It is it's own entity. That's why it has been in the news lately.
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I know but with that volume it is still traded mostly by instituitional investors. They will for sure add that premium. They are not as dumb as the redditers described..
 
Overnight said:
Why are you sweating it? You intimated you have plenty of dry powder if this thing shoots to $2,000 per. So don't sweat it. At least YOUR position doesn't have an expiration date. You have millions of dollars in your account and can ride this short to the moon, as you say, in so many words, because you have all the time in your world. Time is the edge for you.

I have only 3 months in my futures position, and I will be FORCED TO CLOSE, whether I am in profit or loss. I weep that you decided to short a stock on a regulated exchange. I cannot understand why anyone would short a stock that is not a pink sheet. And even then! Shorting and I do not mix. *shrugs*

So life is not that bad for you. No more "oh fuks" from you, because if what you say is true, you have 7 figures, and could easily close the position now and retire comfortably with your cash on hand.
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??? It doesn't matter how much I have, if the thing goes to 2k I down like another hundred freaking grand! I'm already down like 75k plus. It hurts. A lot. But even at 2k, I'm hanging tough. Its just the pain will be IMMENSE.
 
Saltynuts said:
??? It doesn't matter how much I have, if the thing goes to 2k I down like another hundred freaking grand! I'm already down like 75k plus. It hurts. A lot. But even at 2k, I'm hanging tough. Its just the pain will be IMMENSE.
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$2k...nah this thing going to $10k easy.
 
zghorner said:
$2k...nah this thing going to $10k easy.
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Dude, please tell me you are fuking with me. You HAVE to be. That is so many orders of magnitude above what its EVER been to, even when it was peak pump city. LOL, good one dude.... but why stop at $10k? Why not $100k? Fuk it, make it a clean $1 mill!!!!
 
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