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The battle over Gamestop is getting really interesting
- Thread starter LordOfChaos
- Start date
Mojoraisin
Member
Kudos to you OP, the Reddit mafia and especially that OG there that discovered it all and still in. There’s personal gains for everyone invested for more people to join but still love this revenge. Admittedly I know very little of the more advanced instruments of the stock market, just the basic mechanics of price of stock and have small amounts invested in businesses I believe in. In good faith. I know what a short is in broad terms, but not really knowledgeable enough to use it.
This whole ordeal has made me
1) Buy 3 shares just for laughs for under $100 and join the movement. Flipping off “investors” and their elite clients manipulating markets and driving businesses into the ground for a living.
2) Research and learn more about short/long trading myself. This extreme case makes it much clearer for me and the more knowledge that’s spread outside these institutions the better to keep them in check.
Even if I lose all my money it’s worth it. I might’ve already played a microscopic part in exposing the shit that’s going in within some trading - where no value at all is added and manipulation is the standard. Like already mentioned - if any possible regulation only puts small time investors at a disadvantage, politicians have once again shown they aren’t treating their voters as equals.
The Marie Antoinettes of this world needs to learn a lesson before any heads roll. The new government is as squeezed as the stock and will show their true colors. For better or worse.
This whole ordeal has made me
1) Buy 3 shares just for laughs for under $100 and join the movement. Flipping off “investors” and their elite clients manipulating markets and driving businesses into the ground for a living.
2) Research and learn more about short/long trading myself. This extreme case makes it much clearer for me and the more knowledge that’s spread outside these institutions the better to keep them in check.
Even if I lose all my money it’s worth it. I might’ve already played a microscopic part in exposing the shit that’s going in within some trading - where no value at all is added and manipulation is the standard. Like already mentioned - if any possible regulation only puts small time investors at a disadvantage, politicians have once again shown they aren’t treating their voters as equals.
The Marie Antoinettes of this world needs to learn a lesson before any heads roll. The new government is as squeezed as the stock and will show their true colors. For better or worse.
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infinitys_7th
Member
We'll start the meme war tomorrow again anew. No one can stop me from talking about stonks.
To the moon
A.Romero
Member
While is true that Gamestop is no way worth more than $90 I wouldn't dismiss it just yet. They do have plans and it might just work. If you are interested, read: https://markets.businessinsider.com...lans-amazon-rival-ecommerce-2020-9-1029612504 to start and take it from there.
Yes, most of the people with money there are not in for the future of the company but it doesn't really matter. And yes, someone is going to lose money but in this particular instance it would be the hedge funds guys or at least they would first. They are the ones that are going to be forced to buy the shares at a loss, that's what the squeeze is all about. That's why Melvin Capital had to borrow 2.5 billion and that's why everyone is so interested. The money that will skyrocket the stocks even more is coming from the funds. People getting on at $300 hoping it gets to $1000 are just incurring in a higher risk. People that are just listening to news and think they are guaranteed profits and won't know when to jump out? They will most likely lose money but I doubt they will lose much more than 50% of their initial investment unless they fail to act when the moment comes.
People getting in too late might not make any money or even might lose money but people that bought at $30 a share? They are at 10X profits right now. Meaning: they could cash out right now and make 10X profit in less than a week. Nothing else would give you those kinds of gains. A year ago this same stock was at about $3 USD. That's 300x profits. That's drug dealers margin. All that without taking in consideration Gamestop's future viability.
Of course there is a risk, that's why only a truly oblivious person would use essential money to play (just the same as a reasonable person wouldn't gamble with their kid's tuition money). I wouldn't jump in at this stage but mainly because I'm not American and my currency is worth much less than the US dollar so $300 is about a month's minimum wage over here.
Personally I put in $500 last Friday. That's money that I decided I'm willing to lose. If it gets to $1,000 great, I'm cashing out. If not I'm sure I can at least make my $500 back. If not even that, that's OK. It's worth it if only for the pleasure of imagining these assholes sweating blood of what seems to be coming. When you try to ride this kind of wave you have to be willing to lose it all, as if you were gambling in a casino. It would be frustrating but luckily to me it would just mean that I won't be able to buy a new GPU for a few months. If it works, not only I make bank for a quite significant amount of money (about 30% of my yearly income), I also got to participate in something cool.
Grumpy Toe Nail
Banned
bought at 91, still holding guys. Do it for Gamestop!
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EverythingsOverrated
Member
This has been entertaining to watch.
I always get a kick out of when the power structures show cracks
I always get a kick out of when the power structures show cracks
Reizo Ryuu
Member
GME hit 300 again, the dip was nothing.
UnravelKatharsis
Member
Depends.....I'm betting a lot of shorts just got out. That's what was driving all the growth
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Hari Seldon
Member
They are going to try to manipulate the price after hours since most people cannot trade to scare off people. This is just more shady shit. I do not own this stock but if this scares you I would just check tomorrow at 10am lol.
TKOFromTokyo
Member
The question becomes, when is it time to buy some puts?
Buggy Loop
Member
Depends.....I'm betting a lot of shorts just got out. That's what was driving all the growth
There’s not enough shares or float for them to get away, after market is a small volume on top of that. If we see a change of more than 4% short interest tomorrow morning, I’ll be impressed. What we see is most likely a coordinated ladder attack by banks, they exchange money between them to make it look like a drop, shaking off paper hands and triggering stop limits peoples probably set to not lose money.
It’s war, the rich are not messing around, and what is scary, is to imagine how many times they set bots or trolls to manipulate? How many attack ladders coordinated to fuck up the small traders? This is a big eye opener.
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longdi
Banned
It is bait though. All meme stocks hit a high in after markets, don't fall for it!
Imo the party is over, don't expect to hit 400.
Buggy Loop
Member
Really not a time to gamble that. When Volkswagen squeezed back in the days, it became the largest market cap at the time in the market. At that time. If anything even remotely close happens, it could surpass momentarily even Apple in market cap, and won’t be finishing the squeeze until 70% of the float is shorted.
It’s one thing to casino a small amount for unlimited gains with something that happens maybe 4 times in the history and nobody can truely predict, it’s another to try to possibly have infinite loss if this thing blows the market cap roof.
UnravelKatharsis
Member
That makes sense, I was thinking that it's probably a good thing most holders don't have access to aftermarket trading or they may have jumped off this ship.
It also could be a good thing stop limits don't work after hours either.
TKOFromTokyo
Member
I’m talking about options here. There is no unlimited risk.
TheMay30thMan
Member
LMAO he’s just mad that a bunch of self identifying retards made millions and he didn’t.
Buggy Loop
Member
Ah you're right, selling puts.
I guess if there's a short squeeze though, i cannot imagine a broker not having a gigantic premium and a high theta on that stock. But we'll see.
Sir Vilhelm
Member
For those who bought, what's your price to exit?
Buggy Loop
Member
WSB is done my guys.
Damn, we might only make 100% from previous closing. tsk tsk, time to pull out.
..
Naw... HOLD
{insert code here}
Member
If you're short, your risk IS unlimited. From what I've heard, this is actually pretty common in the finance world where a short goes under and it's usually a career ending scenario.
Then again, I don't trade options and definitely not an expert with them.
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Knitted Knight
Banned
Reading about Robinhood "insufficient buying power" messages on attempts to buy calls for investors with low amounts of $$ to invest, despite their money covering the call (interesting to know what percentage they're using to cover risk). This will throttle the mob as the price per share increases, which makes the flock thin out the higher the stock price. Naturally they would do a simple search and find the magic of "call options" but if they can't buy with their little money for whatever reason the systems throw at them they'll be decentivized to keep on trying, on Robinhood or elsewhere. Interesting...
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Buggy Loop
Member
Will probably setup an exit by tiers tomorow as to get at least 75% (19 shares) a safe exit at 900$, a 15% (4 shares) at 2000$, a 5% (2) at 5000$ and a final YOLO 5% (1 share) at 10000$
Not sure i'll ever hit the top tiers, but why not try. Something historic.
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TKOFromTokyo
Member
Yeah, I’m not talking about that. I’m talking about buying put options that would give you the ability to sell at a price if you exercise them.
Trimesh
Banned
You are missing the point here. This is not a normal situation - the basic issue is that the market has been by far overshorted. The reason you buy the underlying security rather than a call in this place is that it reduces the available float (make sure you set a limit order so they don't just lend it out again) reducing the available float makes it more difficult for the shorts to cover and hence drives the price up further.
Sure, if you are concerned with returns in an ordinary market then calls are a suitable bullish move - but this is not an ordinary market.
Buggy Loop
Member
Ah, i always confuse the options. Buying puts is little risk... selling puts is unlimited risk, right?
Kind of stuffs you really have to know before you push the button haha. I remember a few loss porn on WSB about these kind of mistakes.
Buying call or put = good
Selling call or put = bad (risky)
Knitted Knight
Banned
When the stock went well over $150, buying the stock at full price and not exploring other options to lessen upfront cost is not a wise strategy for the momentum mob. If you want to be guinea pig being cheered on sure (lets say for the "no fucks given" attitude). If you want to make the returns, significant ones with little money, you explore other options. Your ordinary flock ain't investing more than a $1000. That will get you 3 stocks and change right now. What's gonna be the return on that? Even if it doubles? Of course you need the mob to do just that but you know....
And for honesty, those in the know are doing just that to profit from the ordeal.
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TKOFromTokyo
Member
Selling a call is unlimited risk because price can keep going up. Selling a put is limited as stock price can only go to zero. Buying either is really only the risk for the cost of the option max.
Trimesh
Banned
But this is not a momentum trade - it's fundamentally a short squeeze. On top of that, the last time I looked there were no OTM calls available, with the highest strike being $200 - which makes the contracts really expensive.
There is an old trader saying - "Bulls make money, bears make money, pigs get slaughtered." - what's happening here is that the hedgies have been getting away with so much shit for so long they forgot this and just got too greedy.
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Buggy Loop
Member
Well, glad i can still see WSB after being private. I've been lurking there for a long time because the memes are just awesome.
WSB discord is out
Reddit actually choked on the bot traffic that happened on WSB, imagine that. The amount of FUD in discord and WSB today was insane, as
LordOfChaos
said, not much outside of "HOLD GME" could be taken seriously. They divert interest also to other stocks. I would not be surprised if AMC and NOK are not just honey traps setup by them. Before all this, i can only recall most of the meme focus of WSB last week was on GME (duh) and BB. Did not see a peep about AMC last week that i recall (?)
Wall Street has a well greased war machine. The focus is now WSB, but it means it's been happening for years and years.
WSB discord is out
Reddit actually choked on the bot traffic that happened on WSB, imagine that. The amount of FUD in discord and WSB today was insane, as
LordOfChaos
said, not much outside of "HOLD GME" could be taken seriously. They divert interest also to other stocks. I would not be surprised if AMC and NOK are not just honey traps setup by them. Before all this, i can only recall most of the meme focus of WSB last week was on GME (duh) and BB. Did not see a peep about AMC last week that i recall (?)Wall Street has a well greased war machine. The focus is now WSB, but it means it's been happening for years and years.
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A.Romero
Member
I was expecting 100 last week. I'm waiting for the squeeze to decide. Probably $1000.
InverseAgonist
Banned
Totally agree. These fucks have been shorting (or naked shorting) companies into the ground for a long time. The regulators and government did nothing when countless small companies were unable to raise funds and had to go under because of this practice.
But, when a bunch of peasants decide to turn-the-tables and fuck over the Melvin and Citron hedge funds of the world, then it's suddently a problem. And what did they do, well called up Point72 and daddy Cohen to back their bullshit play on GME. So now we know what will happen, the game is rigged. Government will regulate, the SEC will come down on them and social media. It's all because you threatened people who have been friends since they all went to school together, work together, kids play together, party together, marry within their social networks. Its all bullshit and your just a peasant.
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Probably pull out a lot at 1000, and then jump back in on the dip, and see how high it can go.
I mean technically it could hit 5000
Sir Vilhelm
Member
Will probably setup an exit by tiers tomorow as to get at least 75% (19 shares) a safe exit at 900$, a 15% (4 shares) at 2000$, a 5% (2) at 5000$ and a final YOLO 5% (1 share) at 10000$
Not sure i'll ever hit the top tiers, but why not try. Something historic.
So you have confidence that$1000 is possible? I bought in at 210 and already getting shaky lol
Buggy Loop
Member
Will depend if brokers let us even buy in the following days. There’s talk that fidelity stopped all GME trades. They are putting themselves at risk of being sued if they do that. Never happened in the history of Wall Street.
D
Deleted member 17706
Unconfirmed Member
Can't verify if true, but I just cancelled my $420 limit sell!
infinitys_7th
Member
LordOfChaos
Member
I cancelled my 420s earlier today, I have 995/1400/2000/5000 (who knows!) and a few are left open ended in about that order. I think 420 is too low a goal if we're almost there on pure price action without shorts subsiding. Believe the thesis that got us here or don't I says.
I'm only growing more confident from the fact that they have all these bot accounts trying to shake money out of GME on reddit. Who else would be motivated to fund that unless they had billions to lose?
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UnravelKatharsis
Member
That's exactly the reaction "they" are hoping for. It's what the FUD is all about.
I can't tell you what to do, I can only say they absolutely want you to sell.
Believe me, I'm far from a stock expert, but, I did stay at a holiday inn express last night
Buggy Loop
Member
I was about to post that. They did not budge on their positions, or barely. 130% short interest with 2 days to cover.
These low volume dips we see? Attack ladders. CNBC saying Melvin got out? FUD. Bot spams in WSB and discord? Honey pot and noise.
They used all fucking tactics possible.
But seeing that? Yeah boi, we eating.
If that’s not an epic squeeze in the making, I don’t know what is. They fucking held their positions and they thought fear and FUD would shake us off, winning their shorts incognito.
D
Deleted member 17706
Unconfirmed Member
I was about to post that. They did not budge on their positions, or barely. 130% short interest with 2 days to cover.
These low volume dips we see? Attack ladders. CNBC saying Melvin got out? FUD. Bot spams in WSB and discord? Honey pot and noise.
They used all fucking tactics possible.
But seeing that? Yeah boi, we eating.
If that’s not an epic squeeze in the making, I don’t know what is. They fucking held their positions and they thought fear and FUD would shake us off, winning their shorts incognito.
It was ridiculous seeing everything that happened today. It sounds so conspiratorial, but I just can't think of any other way to explain it. A few too many coincidences.
{insert code here}
Member
Tomorrow is their last full trading day to shake people out. Billions of dollars are at stake here. It's going to be wild.
A.Romero
Member
Yes, I think it's likely.
Disclaimer: I do this for fun and none of this should be taken as financial advice.
kiphalfton
Gold Member
Cliffs/summary of what happened?
From what I've read CNBC has been spreading FUD all week, the WSB subreddit and discord went down (the former coming back, but the latter bring put to rest for good), and people who are claiming to be WSB members spreading fake info and speaking on behalf of the community.
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Filth
Member
The shorts were not covered yet. That all happens next week and thats when the real stock is going to explode.Depends.....I'm betting a lot of shorts just got out. That's what was driving all the growth