Discussion ***Official*** 2021 Stock Market Thread

[KB]

The shorts are fleeing every company for fear of getting caught in a GME trap. Saw big jumps in sleepy stocks like LUMN.

 

[ponyo]

I'm certain couple big funds just got killed today and went bankrupt because of the high GME open. But they're not going to come on CNBC right now and tell you. This is incredible.

 

[brianmanahan]

this is like the VW short squeeze back in 2008, but maybe bigger

 

[JEDI]

Holy shit GME is trading at ~$350 now.

This is far more entertaining than the Hertz saga.

And with the general market tanking 500 points

 

[ponyo]

And with the general market tanking 500 points

That's because this is hitting the rich fucks in the wallet and many are getting margin calls so their other positions are getting liquidated at any price.

 

[JEDI]

The shorts are fleeing every company for fear of getting caught in a GME trap. Saw big jumps in sleepy stocks like LUMN.

Cruise stocks are going up when the market is down 500pts

 

[dasherHampton]

Options gong nuts all over the market.

 

[JEDI]

That's because this is hitting the rich fucks in the wallet and many are getting margin calls so their other positions are getting liquidated at any price.

Margin calls because of their shorts shouldn't cause the market to go down unless they are selling positions that arent shorted?

If so, why not sell their shorts that are being hammered and get out?

 

[Red Squirrel]

Just curious I don't really understand this stuff in depth but why is it affecting the rich so much? Shouldn't they be profiting off this too? If they had the stock from the start when it was at like $2 and sell now wouldn't they be making millions?

Kind of fun to think of all the squirming going on at wall st right now though lol.

 

[Torn Mind]

Put it this way, this is the most hilarious funeral for the store business of Gamestop ever.

 

[ponyo]

Just curious I don't really understand this stuff in depth but why is it affecting the rich so much? Shouldn't they be profiting off this too? If they had the stock from the start when it was at like $2 and sell now wouldn't they be making millions?

Kind of fun to think of all the squirming going on at wall st right now though lol.

There are rich who's greatly profiting off this. This is the rich battling and eating each other. If the rich thinks some fund is in trouble, they attack every position held by that fund to cause them to throw it all up and cry uncle and go bankrupt. That's how Wall Street always operated and isn't something new. The retail started the squeeze but it's the big boys who've joined the action causing lot of the damage to the short funds. It's dog eat dog world and financial world is brutal. It's always about the survival and they will sell their babies and eat others if they thought they could make a buck. This looks like fun game but it's brutal warfare.

 

[Torn Mind]

AMC just popped....

And here I was two days ago or on Friday putting in some "Good till cancelled order" at 2 dollars a share waiting for the next mini dip.

If I had just bought, my small pot would have quadrupled.

 

[Torn Mind]

Also, Schwab just shut off their trading system. Look like I can't escape the naughty powers that be.

 

[Red Squirrel]

There are rich who's greatly profiting off this. This is the rich battling and eating each other. If the rich thinks some fund is in trouble, they attack every position held by that fund to cause them to throw it all up and cry uncle and go bankrupt. That's how Wall Street always operated and isn't something new. The retail started the squeeze but it's the big boys who've joined the action causing lot of the damage to the short funds. It's dog eat dog world and financial world is brutal. It's always about the survival and they will sell their babies and eat others if they thought they could make a buck. This looks like fun game but it's brutal warfare.

Yeah sounds brutal. So guess it's just playing games to make people sell off at bad times or buy at bad times etc by manipulating the stock? I understand lot of stuff is automated too where they can set rules if stock goes below or higher they sell/buy so guessing lot of this exploits that as well.

 

[njdevilsfan87]

In for 500 AMC @ 15 this morning for ****s and giggles. If it does anything remotely close to what GME did I'll have a few of my computer upgrades paid off, heck maybe even a downpayment for a new car (which I would not getting since cars are the worst financial purchases ever).

Edit: In for 1000 NOK @ $5.1 - this is another heavily shorted potential WSB target.

Edit: Squeeze on SPCE could be happening! $51 now!

The markets are down a lot this morning but a lot of WSB favorites are doing quite (or should I say very) well.

 

[ponyo]

The shorts are fleeing every company for fear of getting caught in a GME trap. Saw big jumps in sleepy stocks like LUMN.

I'm seeing short covering in pretty much any company with decent short float today. LMND and SPCE have good portion of the float short. Both are seeing spikes. SPCE is the interesting one. SPCE broke through its all time high yesterday so it could have lot further room to run as shorts cover.

 

[FelixDeCat]

You're seeing history in the making. They will make movie about this. The Big Squeeze instead of the Big Short.

This is bigger than when George Soros broke the Bank of England with his British pound trade. This GME infinity squeeze trade is legendary stuff.

I remember when the Hunt brothers tried to manipulate the silver market in the 1980s and got a serious regulatory beatdown.

That's child's play today.

 

[FelixDeCat]

Options gong nuts all over the market.

I day traded some SAVA. Most options too risky right now, IV going too high.

I'm tempted to liquidate everything and flee into junk bonds.

 

[Roger Wilco]

Apparently some people are buying GME as a form of altruistic charity to help people affected by the pandemic??

"I've tried to help everyone as much as possible but it just wasn't enough. My own business died during the lockdown as well but I was able to save up some cash.

Most of it is now I'm GME. I've bought shares for 20k at 120 average. If this rocket will fly over $1000 I'll be able to help these families get back on their feet (and the kids will be able to go back to dancing classes!).

Listen retards, I just wanted to let you know that by doing your part and holding, you're not just helping the whales get more yachts and mansions but you're also saving lives. Literally. Thank you for giving me an opportunity to do some good.

Yours truly,

• A. Retard"

 

[ponyo]

I didn't know 81% of the float in SPCE was traded short. I knew it was high but I didn't know it was 81% high. Holy crap! SPCE can run lot higher.

 

[njdevilsfan87]

I wonder if market movers tried hard to bring the market down today to end the GME squeeze and other WSB mania. So far it hasn't been working. It looks like the HODL cult may have spread out of crypto.

 

[dasherHampton]

I day traded some SAVA. Most options too risky right now, IV going too high.

I'm tempted to liquidate everything and flee into junk bonds.

Big players are snapping up puts right and left on anything that can be considered a risky position.

My INO puts, which were all green, are now all quite a bit in the red, even as INO continues to climb. Same with SRNE (which is really popping). Even my $3 SRNE puts have skyrocketed (SRNE is at $12.50). lol

I use my Schwab account pretty much fully for options now. When I first logged in it was $3500 down. The next time I logged in it was $1200 down. Third time? $2500 down.

Things seem to have settled a bit. It's sticking at around $1200 down for now.

 

[Roger Wilco]

I bought some Nokia like 2 minutes ago and it's already up 4%. AMC is holding strong lol.

 

[FelixDeCat]

I didn't know 81% of the float in SPCE was traded short. I knew it was high but I didn't know it was 81% high. Holy crap! SPCE can run lot higher.

That could be true. What helped GME so much was its relatively small market cap. Now its $10b. Could double to $20b, but I won't put money on it.

SPCE however is already $12.5b, so who knows. They need to start getting butts into orbit NOW if they want to see $25b.

Edit: GME is now $25b market cap!

 

[FelixDeCat]

TD Ameritrade putting restrictions on GME and AMC trading.

Expect others to follow.