Lol, that's what happens when you set the smartphone ringtone to "vibrate" for market alerts and stick it down your pants.
PLEASE everyone read this and post your opinion
- Thread starter zghorner
- Start date
Lol, that's what happens when you set the smartphone ringtone to "vibrate" for market alerts and stick it down your pants.
is that not what you're supposed to do?
There is no right or wrong on where you place your vibrator. Personal preference and all that. Just pointing out the cause/effect thingy. *snickers*
Sucks the bigger players on this board are so quiet about this right now but I understand. I lack the experience and connections and only see probably a small tiny fraction of what is going on. I may be dead ass wrong and I probably am...but I formed an opinion based on what I saw going on and betting it all that I am right. As of now the majority of my positions are green and I believe the best plays are the ones that show you a profit right off the bat.
yacht or cardboard box fellas. No in between. Diamond Hands. Sitting tight when you have a good position that’s in the green and wait for the big swing is how I believe I will make money. Holding over the weekend. May the ghost of the boy plunger shine down upon me in my efforts. Amen.
yacht or cardboard box fellas. No in between. Diamond Hands. Sitting tight when you have a good position that’s in the green and wait for the big swing is how I believe I will make money. Holding over the weekend. May the ghost of the boy plunger shine down upon me in my efforts. Amen.
Even MSM such as CNBC are acknowledging this activity is a threat to the stock market as a whole, and possibly the larger financial infrastructure. From the rhetoric of these robinhood traders who are gaming the price of GME, it sounds like they are less interested in turning a profit than in conspiring to destroy the financial system or perhaps capitalism. They will not be able to do that with their manipulations, but they could potentially do a lot of damage, including threatening the financial solvency of many ordinary families. America has more laws than any country in the world (democracies love to pass laws, and we are the oldest in the world), so I am sure there are laws against a group of people conspiring (that is explicitly what they are doing, so this is no mere conspiracy "theory") to destroy the financial infrastructure for political reasons rather than incidentally disrupting it while seeking to make a buck.
GME was irrationally overpriced and shorting it was the rational thing to do, market arbitrage. A group of people deliberately bidding the price up to totally insane levels just for the purpose of nullifying rational market arbitrage is not a financial decision but a political one, the spiteful rage of relatively privileged middle class youth who don't appreciate what they have. Since the French Revolution, the Left has repeatedly been fixated on revolutionary destruction with no plan for a viable (viable!) alternative order.
However, both the SEC and Congress are paying close attention to this matter:
SEC issues statement on past week’s turbulent market activity prompted by Reddit-fueled GameStop run | TechCrunch
As a native Texan, I am old enough to remember when the Hunt brothers of Houston tried to corner the silver market in 1980. The regulators thwarted them by changing the rules of the game and taking other ethically questionable measures that ultimately drove the Hunt brothers into bankruptcy. "The Man" has ways of fighting back against people who try too hard to game the system, even when, like the Hunt brothers, they do so legally. When they game the system in ways that are unlikely to be legal, the feds become even more likely to take decisive action.
GME was irrationally overpriced and shorting it was the rational thing to do, market arbitrage. A group of people deliberately bidding the price up to totally insane levels just for the purpose of nullifying rational market arbitrage is not a financial decision but a political one, the spiteful rage of relatively privileged middle class youth who don't appreciate what they have. Since the French Revolution, the Left has repeatedly been fixated on revolutionary destruction with no plan for a viable (viable!) alternative order.
However, both the SEC and Congress are paying close attention to this matter:
SEC issues statement on past week’s turbulent market activity prompted by Reddit-fueled GameStop run | TechCrunch
As a native Texan, I am old enough to remember when the Hunt brothers of Houston tried to corner the silver market in 1980. The regulators thwarted them by changing the rules of the game and taking other ethically questionable measures that ultimately drove the Hunt brothers into bankruptcy. "The Man" has ways of fighting back against people who try too hard to game the system, even when, like the Hunt brothers, they do so legally. When they game the system in ways that are unlikely to be legal, the feds become even more likely to take decisive action.
GME was irrationally overpriced? It was literally less than $5/sh...Melvin didnt short it after it 10x'd bud please rethink that statement.
I disagree that this is some sort of "conspiring" do destroy the banking system also BUT i do agree with you on the Hunt Brothers example...they did the same thing to Saunder's with piggly wiggly in the 1920's.
The theory that "this time is different" is questionable...but the best arguments I can provide are the fact that (1) in the Hunt Bros and Saunders examples it was a few rich guys that got burned....and now waaaaaaaaay more common people have skin in the game and are COMPLETELY UNITED ACCROSS THE WORLD. And (2) they are able to communicate quickly and efficiently through social media in ways never ever close to being available before. People are much more informed right now and the eyes of the world are upon us...will the current administration allow the common people to get so obviously burned right before everyone's eyes? I don't know to be honest either way is risky for them and I dont know what exactly the end game will be...if you had to base a decision off of the past events then the suits will win again...what do you think the implications of that will be with the lower 99% on both the right and left united for the first time since 9/11???
IMO this is an extreme and perfect example of just how useful the internet is and just why it should NEVER BE SENSORED. The ability to inform oneself and educate oneself and discuss ideas openly and freely with other likeminded individuals from around the globe INSTANTLY is truly a magnificent and wonderful thing...and has finally caught up to the big boys on wallstreet and provided the small fish with all the tools they need to out trade their asses.
Always an extra couch in my basement you can have should it come to that. lol. I hope you're sitting well come this Friday. Sending you good vibes.
You're mistating intentions to build a strawman that is simply not true. The RH traders aren't looking to destroy the financial system or even capitalism they simply went after hedge funds that had oversold GME to 120%. The same hedge funds that needed to be bailed out in 2008 for nearly bankrupting the financial system by the way. These RH traders countered the tactics of the hedge funds and were beating them at their game when RH and Schwab/TDAmeritrade and IB gave the hedge funds a window of opportunity to deleverage and save their asses by preventing traders from buying shares while letting them sell.
From a conservative:
Yes, and it was worth much less. For example, for the year 2020, GME's earnings per share was NEGATIVE -$5.38! It's future prospects are not promising either, since its 3rd quarter revenue was down 30%. It's book value was +5.10, so if you bought it all for 5 a share and sold it off for its underlying asset values, you might manage to break even after expenses, but it would hardly be worth the trouble. Distressed assets usually sell for a substantial discount. The exec's should be paying people to take the company off their hands! This business is a dog. In percentage terms, it is worth much less than 5 a share. It's probably headed for dissolution in bankruptcy court.
Of course, if it was a fully deserving short at 5 (and it was), it's a super-enticing short prospect at 300+. I wonder what asset robinhood radicals who are weaponizing the markets will try to send to the moon next. Oil? Or maybe they will go the other way and try to bid bonds down/rates up to ridiculous levels? They could potentially create a huge amount of disruption.