From the Star Ledger:
N.J. teachers ‘next up to bat’ for COVID vaccine eligibility, Murphy says. He hasn’t said when.
New Jersey teachers are “next up to bat” to receive a vaccination for the coronavirus when eligibility expands, Gov. Phil Murphy said Wednesday. But how soon they’ll be able to get the shot remains unanswered.
Murphy, speaking during a morning CNN interview, said he understands the stress educators have to deal with while working during the pandemic. He has also advocated for as much in-person learning as possible, citing the benefit it has for students — particularly those who live in low-income households.
“When we add groups, I want to be able to add educators as fast as we can,” Murphy said.
“They’re in the on-deck circle,” he said. ”Educators are next up to bat.”
Currently, those eligible to receive the vaccine in New Jersey include health care workers, police, firefighters, long-term care residents, those over 65 years of age, those between 16 and 64 with certain health conditions and smokers. That’s more than 4 million people. The state has received 1.09 million doses from the federal government, according to the Centers for Disease Control tracker.
first
Scratch the Moon, to Mars we go on a Space X rocket ship.
GME
After Hours: Last | 6:29 AM EST
451.84
quote price arrow up+104.33 (+30.02%)
At what point do the GME insiders just dump like crazy? I mean, why wouldn’t you? It’s not insider trading. They can walk away almost billionaires, it’s like winning Powerball.
No reports yet, SEC requirement is report within 2 days of the trade.
https://www.nasdaq.com/market-activity/stocks/gme/insider-activity
Kurt looking like a boob right now
So, I was just reading some of the posts on wallstreetbets and have a much clearer picture of what’s going on. I see that Charles Payne, who I’ve watched for a number of years and a few other analysts are cheering this on. It would seem that any hedge fund going forward is going to have to rethink their hyena strategy. What that will be, I’m not sure. Correct me if I’m wrong, but do these hedge funds now have to hold their positions or are they “called” to pay at a particular price point?
I have to read more but apparently, there is talk of them moving on to Silver next. For the past 15 years, people have been talking about huge short interests in the SLV market that wouldn’t be able to cover with the physical metal. Silver bugs have been touting a short squeeze the entire time. Personally, I always bought into the thesis and have always been heavily invested in physical.
But now, with a bunch of kids that just squeezed hedge funds for billions of dollars looking for another victim and the ability to direct the crowd possibly wherever they want, maybe it could happen. They are armed with a lot more money than they had 2 weeks ago.
Eddie for it to work they borrow some times huge leverage. They have to keep putting in more and more cash to maintain the short positions as the stock prices go up. Right now whomever is still shorting is in trouble. They can hedge but not to make up this kind of overnight move. Reports were 21 Billion lost this week alone by the shorts. Market cap of GME jumped another 12 billion last night? It’s the pros doing this now the kids don’t have access to the aftermarket, they are the sideshow and wallstreetbets will get the blame but reality is a different story.
This squeeze has been duplicated by the pros for example American Airlines.
And 2 minutes into my sniffing, they bid the miner, AG from $14 to $19.5 last night.
Juice,
It’s the pros doing this now the kids don’t have access to the aftermarket, they are the sideshow and wallstreetbets will get the blame but reality is a different story.
That is very interesting. Thanks for the insight. I see that this guy Portnoy is now targeting NOK? And you mention the pros now driving this… who exactly? Competing hedge funds?
Eddie every trading desk on the planet.BTW institutions own 70% of this stock, some like Fidelity own tons at a loss until now.
You know it’s sad. Greed combined with technology has destroyed the stock market as we know it. Buffett’s beautiful strategy of value investing no longer applies. It’s all a game now and has been for quite some time….at least 10 years. Fundamentals of a company don’t matter, what matters is the fundamentals of the players in the market driving the price up or down. That’s the ticket today, to know the psychology of the market groups driving the price of stock, whether it be retail, institution, or a whale.
The days of investing for value are over for now. Throw that book out the door. Maybe it comes back, but who the hell knows.
Juice: SEC declined to comment at the moment. That will change soon.
Well, the division in our society has now carried over into the stock market.
“What I think a lot of people are trying to understand is the thought process of a lot of these retail investors. Here is a good insight. make sure you page forward. For anyone in here that has been poor, this should resonate.”
3b – SEC to say what? The kids are not moving American Airlines, or the Shopping Mall stocks. Volume of AMC was 1,253,253,500 yesterday. This is not a bunch of retail trades. AMC board of directors rang the register twice already since last week and dumped hundreds of millions of shares. That in itself needs to be investigated.
Mark Cuban was on this CNBC this morning his 11 year old bought 2 shares of BB and two shares of NOK, his kid learned about it on Tick Tock. My son told me they are spamming the gamer channel chats etc. Several million children or young adults cannot do any of this, they don’t have the ability to day trade and after hours trade billion and billion of shares.
I see them vilifying the silly kids on the internet. Sure a few of them just might have $50,000 to dump into Cheap OTM Call Options back in the middle of 2019 and play the long game with GME and become a multimillionaire.
Such hate for each other. How long before a civil war?
The amount of hate for the rich is just mind blowing…
@Breaking911
·
16m
BREAKING: Robinhood removes GameStop, AMC; Puts notice on pages saying ‘You can close out your position on this stock, but you can not purchase additional shares’ $AMC –
@benzinga
@stoolpresidente
·
39m
I will burn
@RobinhoodApp
to the ground if they shut down free market trading.
@pulte
·
19m
Today is your friendly reminder that the rich are shutting down your stock market for you, and the politicians have yet to give you your stimulus money.
3b,
My tech area owns systems that support the IBs restricted equity list. 7AM call today to discuss current project work. What was first topic? Exec wants a way to block Reddit group (or the like) transactions. War is on. You Rs on here want to bitch & moan that left are the progressives who will restrict your freedom? Progressives are in the halls of the banking institutions, Congress and SEC. Freedom is the country based on economic freedom and they will change every law, monitor every group in order to ensure there is no level playing field. To quote Risky Business “In times of economic uncertainty, never ever f^ with another man’s livelihood”. Well, they have f-ed with it bigly and now watch the stasi bring hammer down. The language will say “supporting market stability”, “reduce volatility ” but it will be all about ensuring the big money gets redeemed first and the rest get squashed.
I agree with this. It’s f’ing up the market. It’s taking capital and not allocating it efficiently.
“The language will say “supporting market stability”, “reduce volatility ” but it will be all about ensuring the big money gets redeemed first and the rest get squashed.”
BRT Silver? Lol.
That is based upon the assumption that JPM is doing something illegal to manipulate COMEX to keep the price down. Old news, they were as suspected for many years and took their slap on the wrist to the tune of $920 million.
“Between 2008 and 2016, JPMorgan engaged in a pattern of manipulation in the precious metals futures and U.S. Treasury futures market, the CFTC said. Traders would place orders on one side of the market which they never intended to execute, to create a false impression of buy or sell interest that would raise or depress prices, according to the settlement.”
BTW the trader got the blame. John Edmonds, a 36-year-old Brooklyn resident pled guilty his “unnamed co-conspirators” skated.
https://www.reuters.com/article/jp-morgan-spoofing-penalty/jpmorgan-to-pay-920-million-for-manipulating-precious-metals-treasury-market-idUSKBN26K325
Maybe they will all have an amazing epiphany after a few years of futile comments like you did.
The Great Pumpkin says:
January 28, 2021 at 9:01 am
Such hate for each other. How long before a civil war?
The amount of hate for the rich is just mind blowing…
Bystander: I don’t disagree , except for being a Republican which I am not.
Gas is up 25 cents per gallon since O’Biden killed our energy independence. Also, can anyone tell me why these public schools remain closed as the teachers of these districts perform online dance routines, vacation on islands and are still getting paid? Meanwhile Catholic School teachers have been teaching in the classroom since September.
Efficiently? What are you talking about? Capital goes where it will make best return vs. risk. Pumping trillions in free money to everyone means you have no care for efficiency or risk. Now WS corporotocracy does not like results bc others are hurting their big stakes poker.Wake up.
This is all just the waves in the ocean getting big before the actual storm.
How long before the US divides up into a few separate nations?
I predict Cali goes first.
Yup so they stopped the kiddies on Robinhood from buying GME and it opened at 265.00 and shot up to 370 anyway.
I guess the SEC needs to look elsewhere.
Absolutely. Remember, when I first came to this board, I was a lot younger. I pray they can see the light like I did before it’s too late.
Just accept that life is not meant to be fair. All you can ask for is stability. Asking for life to be fair is a pipe dream. Nature is not based on fair. Go ask those animals how they liked it when bulldozers came to destroy their home to build yours..
PumpkinFace says:
January 28, 2021 at 9:25 am
Maybe they will all have an amazing epiphany after a few years of futile comments like you did.
How long before Portnoy is twitter banned for hate speech?
Opened at $260 now shot up to $472.92.
Kiddies unable to buy online..
Seems like the sharks are going to eat that whale.
#1 Rule on Wall St is the whale should never surface, otherwise it gets harpooned from all sides.
Pumps. Don’t hate the players. Learn to play the game to the best of your allowance (forget ability). So far, you really haven’t learned anything. Still chasing every possible get rich quick scheme (which will turn you poor). The value game still works just fine. Perhaps even better than ever. Go look at the chart of Apple or MSFT. You just need to learn to ignore the flavor of the month. That flavor is what is being pumped, so suckers like you will go out and buy a waffle cone. Of course, by then, the best flavor is what it always was.
“A married teacher faces up to five years in jail after being found guilty of having sex with a 15-year-old pupil she spotted at a school sports day and added on Snapchat to send flirty texts – as her husband held her hand and called the verdict a ‘joke’.
Kandice Barber, 35, was found to have taken the underage boy to a field, kissed him on the neck next to a bale of hay and whispered, ‘What do you want to do now?’ before having full intercourse with him.
Barber’s lawyer had claimed she was too short at just 5ft tall to have sex with the boy standing up as the teacher lied that her packed calendar meant she was ‘too busy’ to have slept with him.
She had bombarded him with messages including one where she asked him ‘Do you like boobs or bum?, You have a bigger peinnis than my husband, When I’m teaching, let’s see if we can make each other the horniest we can without the others knowing, You cannot make me blush when I am teaching now, poker face, then sent him a photo of herself on a bed surrounded by sex toys.”
Update your iphones and ipad software right away if you are not on ios 14.4
https://www.pcmag.com/news/apple-patches-3-ios-flaws-hackers-may-be-actively-exploiting
Let me explain it this way. My older kid (who is still straight A through 2nd semester of 10th grade), like most, is fascinated by the easy money made by professional gamers, that 8 year-old who reviews toys, or this GME master. No matter how many times I told him that if he was not first to the game, you will not be able to play; he still finds it fascinating. He is currently saving for his first car (beater), but I told him it’s okay to transfer $50 into his Robin Hood account. He is about to learn a canned pancake lesson. Getting back to what Phoenix and Leftwing were talking about last night. You have to let them stumble and fall if they are to learn to walk. Heck, I’m really not a helicopter parent, but I do get a report back on how many hours each week he spends and on which apps he uses on his PC. I don’t stop him from gaming 40 per week, as long as he can maintain his grades. Last week, I received a notice that he was banned from chatting on the Xbox for 24 hours. Most parents would have flipped out. I see it as a badge of honor. I told him not to get caught again and left it at that. We both know that he had to have been pretty crude to get the ban, regardless of his friends jokingly pressing the abuse button. I bet the majority here think I am being too lenient.
In other news, my boy just told me the Reddit Boys attacked Dogecoin, since they still have access to it. Good for them.
Lib,
Seriously, why do you think ARK is a pump scheme? She has killed it every single year. You don’t kill it every single year being a pump and dump. Why is it so difficult to accept that she is really good at what she does. She had gathered the best in the game at what she does. They have built an entire network. They are so good that they can be transparent.
I love apple and microsoft, but at my age, ARK is a much better position for my capital. I’m not chasing short term gains here, man. I’m LONG. Her fund is not for short term, it’s for the LONG. So what is the problem here?
Let me explain it this way. My older kid (who is still straight A through 2nd semester of 10th grade), like most, is fascinated by the easy money made by professional gamers, that 8 year-old who reviews toys, or this GME master. No matter how many times I told him that if he was not first to the game, you will not be able to play, he still finds it fascinating. He is currently saving for his first car (beater), but I told him it’s okay to transfer $50 into his Robin Hood account. He is about to learn a canned pancake lesson. Getting back to what Phoenix and Leftwing were talking about last night. You have to let them stumble and fall if they are to learn to walk. Heck, I’m really not a helicopter parent, but I do get a report back on how many hours each week he spends and on which apps he uses on his PC. I don’t stop him from gaming 40 per week, as long as he can maintain his grades. Last week, I received a notice that he was banned from chatting on the Xbox for 24 hours. Most parents would have flipped out. I see it as a badge of honor. I told him not to get caught again and left it at that. We both know that he had to have been pretty crude to get the ban, regardless of his friends jokingly pressing the abuse button. I bet the majority here think I am being too lenient.
In other news, my boy just told me the Reddit Boys attacked Dogecoin, since they still have access to it. Good for them.
Let me explain it this way. My older kid (who is still straight A through 2nd semester of 10th grade), like most, is fascinated by the easy money made by professional gamers, that 8 year-old who reviews toys, or this GME master. No matter how many times I told him that if he was not first to the game, you will not be able to play, he still finds it fascinating. He is currently saving for his first car (beater), but I told him it’s okay to transfer $50 into his Robin H00d account. He is about to learn a canned pancake lesson. Getting back to what Phoenix and Leftwing were talking about last night. You have to let them stumble and fall if they are to learn to walk. Heck, I’m really not a helicopter parent, but I do get a report back on how many hours each week he spends and on which apps he uses on his PC. I don’t stop him from gaming 40 per week, as long as he can maintain his grades. Last week, I received a notice that he was banned from chatting on the Xb0x for 24 hours. Most parents would have flipped out. I see it as a badge of honor. I told him not to get caught again and left it at that. We both know that he had to have been pretty crude to get the ban, regardless of his friends jokingly pressing the abuse button. I bet the majority here think I am being too lenient.
In other news, my boy just told me the Reddit Boys attacked D0gec0in, since they still have access to it. Good for them.
I guess naked short selling to the tune of how many multiple of the company’s entire market cap was capital being allocated efficiently.
The Great Pumpkin says:
January 28, 2021 at 9:14 am
I agree with this. It’s f’ing up the market. It’s taking capital and not allocating it efficiently.
“The language will say “supporting market stability”, “reduce volatility ” but it will be all about ensuring the big money gets redeemed first and the rest get squashed.”
GME halted on Ameritrade now too
HMB,
Did it last night before I went to bed.
What’s make you so sure you’re right now? Maybe you were right then and are wrong now? Maybe you are bipoliar?
The Great Pumpkin says:
January 28, 2021 at 9:50 am
Absolutely. Remember, when I first came to this board, I was a lot younger. I pray they can see the light like I did before it’s too late.
Just accept that life is not meant to be fair. All you can ask for is stability. Asking for life to be fair is a pipe dream. Nature is not based on fair. Go ask those animals how they liked it when bulldozers came to destroy their home to build yours..
I’m not sure delisting these stocks will help…this is how people feel
@Sociopathlete
Elites crushed $AMC with bullsh1t lockdowns in 2020 and then bet on the stock to fail
I am more than happy to pump the price, make a few bucks, and punch those assclowns in the d1ck along the way
That’s why it should quickly be made illegal.
PumpkinFace says:
January 28, 2021 at 10:23 am
I guess naked short selling to the tune of how many multiple of the company’s entire market cap was capital being allocated efficiently.
Most young are social!sts. You don’t realize this by now? Damn the man! The slogan of the young.
Problem today, these dudes are in echo chambers and getting really really angry. They are acting on it.
I hope they don’t take the ship down before they realize how wrong their position really is. It takes time and experience to understand why social!sm is evil and not rich guys. Some rich guys are pricks, but a lot of good dudes in their ranks who worked hard to make this world a better place and provide a value to society on a daily basis. This must be rewarded and celebrated, not looked upon as some evil scheme.
Lock up the bad “rich” guys. Celebrate the good hard working ones.
PumpkinFace says:
January 28, 2021 at 10:24 am
What’s make you so sure you’re right now? Maybe you were right then and are wrong now? Maybe you are bipoliar?
Reading through everything here.
My opinion if you care.
Don’t get caught trying to make sense of the symptoms.
What is the cause? Bystander is right.
Everything else is noise. But it makes for a great soap opera.
Bystander says:
January 28, 2021 at 9:37 am
Efficiently? What are you talking about? Capital goes where it will make best return vs. risk. Pumping trillions in free money to everyone means you have no care for efficiency or risk. Now WS corporotocracy does not like results bc others are hurting their big stakes poker.Wake up.
What’s make you so sure you’re right now? Maybe you were right then and are wrong now? Maybe you are bipoliar?
I saw what you did.
Fed printing has been obscene for …about a decade. Hedgies are glorified gangsters, yes.
But add to that the ridiculous, irresponsible “margin trading for everyone” (basically payday loan for the stupid), and a sick mob mentality among the resentful, which is easily manipulated by the ringleaders of this pyramid scheme….
Oh, so I was right when I was getting blasted by every single person on this blog for said position?
Roaring Kitty says:
January 28, 2021 at 10:52 am
What’s make you so sure you’re right now? Maybe you were right then and are wrong now?
Can’t wait till we bailout the leverage abusers.
Cuomo’s own Attorney General going after him over the nursing home body count due to Covid-19?
“New York may have had twice as many coronavirus-related deaths in nursing homes than the official count of more than 8,700 reflects, state Attorney General Letitia James said.
The Attorney General’s Office released a report Thursday saying the state Health Department erred in counting Covid-19 fatalities and detailed a lack of compliance with infection-control policies at many nursing homes.
The office’s investigation also found that state guidance requiring coronavirus patients be admitted into nursing homes may have put healthy residents at risk. The Health Department also may have obscured data available to assess the risk, according to the report.
The report comes as Governor Andrew Cuomo’s administration faces intense scrutiny for not releasing complete nursing-home death data months after the initial wave of the pandemic.
Efforts to reach the administration and the Health Department for comment Thursday weren’t immediately successful.”
https://www.bloomberg.com/news/articles/2021-01-28/new-york-may-have-undercounted-nursing-home-covid-deaths-by-half
Lib, to your point:
43% of retail investors are trading with leverage: survey
https://finance.yahoo.com/news/43-of-retail-investors-are-trading-with-leverage-survey-172744302.html
This is from last year, before the feeding frenzy switched into beast mode.
Turd no bailout a bail-in more likely they will give you a coupon for GameStop and keep your saving account.
This does not apply to gamestop or amc. There is no best return or risk associated with this move. This is simply a game.
Those insiders are going to make a ton of money off the games being played. Those are the only real winners here…at the market and everyone’s expense. They got rewarded for nothing. That money comes from somewhere, and it is hurting the efficiency of the market. Good companies are going to lose that capital to pay for this. So keep dropping bundles of money into these people’s laps.
“Capital goes where it will make best return vs. risk.”
10 million new retail trading accounts opened in the last year too. Got to do something with that savings as well the banks have not paid reasonably interest in over a decade and won’t for another decade.
You all realize this is the result of writing stimulus checks to those who didn’t need them.
GME: It’s interesting how a lot of the financial news channels/mags defaulted to defending the hedge funds.
I wonder how many Politicians and others in government had a stake in some of these funds. Watch how fast they change the rules.
@iowahawkblog
·
1h
I salute America’s hedge funds for their deep altruistic concern that the people kicking their asses may sustain toe injuries
Yes…yes we do
https://twitter.com/jptayamen/status/1354598426898526209?s=21
Libturd says:
January 28, 2021 at 11:21 am
You all realize this is the result of writing stimulus checks to those who didn’t need them.
Yup. Funny.
“Social!sm is evil and not rich guys. Some rich guys are pricks, but a lot of good dudes in their ranks who worked hard to make this world a better place and provide a value to society on a daily basis”
Most of these good dudes are f*in old or dead. The Federal govt rewarded the most abusive risk takers about 12 years now. You now have tent style “investment firms” wink, that are playing poker with free money for short term wealth. These kids see the lies very clearly – printing money and giving it to one wealthy class is social!sm. You want to call it “saving capitalism” but it has robbed savers and lower class for years. Lots of these kids probably have come from homes broken by the housing bust and job instability post 2008. Now they can learn so much via youtube and easy apps that parents never will know. Sorry you want the wrong side to win. Not that they will.
Sorry forgot the quotes Pumps.
That was someone else’s post. It was the word “bipoliar” I was referring to.
Bystander,
Agreed.
Bystander: the behavior of the BD’s and any institution providing a trading platform is driven first by profit, but is it strongly tempered with a philosophy (a no excuses demand) for risk mitigation. Most of the time it takes the form of enterprise financial risk through the measure of risk in book, but in this case it is more of product liability. ….. and in the instance of novice investors, the burden falls on the BD to restrict their activity. So it isn’t some conspiracy, but rather a sober set of actions that have been long consider for these types of situations. The facts and circumstance may be novel, but the overall situation is familiar.
The skinny: legally some kids screw up; they can get a lawyer, sue, and be considered an innocent party that should have been protected from themselves by the BD. That is how precedent reads.
Bystander says:
January 28, 2021 at 9:11 am
3b,
My tech area owns systems that support the IBs restricted equity list. 7AM call today to discuss current project work. What was first topic? Exec wants a way to block Reddit group (or the like) transactions. War is on. You Rs on here want to bitch & moan that left are the progressives who will restrict your freedom? Progressives are in the halls of the banking institutions, Congress and SEC. Freedom is the country based on economic freedom and they will change every law, monitor every group in order to ensure there is no level playing field. To quote Risky Business “In times of economic uncertainty, never ever f^ with another man’s livelihood”. Well, they have f-ed with it bigly and now watch the stasi bring hammer down. The language will say “supporting market stability”, “reduce volatility ” but it will be all about ensuring the big money gets redeemed first and the rest get squashed.
3b,
Sorry, other post was not directed at your political affiliation. I have a low tolerance for bs which is why Trump is particular type of deceiving reptile to me and cult members seemed to swallow his load all the time. I will never be a Biden cult member. You want to charge him and Hunter – go for it. We have been doing political hit jobs for decades. It is part of the game to deceive that other side is more crooked. The game is money – who prints it, who gets it and who get taxed on it.
RIP Robinhood, their reputation for sure. Stopping anyone from buying $AMC, $BB, $BBBY, $EXPR, $GME, $KOSS, $NAKD and $NOK is bad for business as
those stocks are now cooling off.
They were making a mint on the trades, 180 million in the 2nd quarter, before the frenzy more than allot of the other platforms for retail. They gambled here whether it is RISK or CASH FLOW issue because 1/2 their users own GME and the other stocks in the squeeze.
I would say the Kids are going to abandon the platform as they are not the only game in town.
But it did save capitalism. The past 10 years have been great. Why would I advocate taking that all a way to let the system crash? This is not social!sm, or social!sm for the rich, it is acknowledging that the system is not perfect and needs to be helped every now and then. Everyone benefits from stability in society. Destroying the economy is a recipe for the opposite. It’s too chaotic and risky. You never know what to expect when eliminate the ruling class in society. You want us to become mexico? Where the cartels are run the show and are more powerful than the govt? That’s what happens when an economy crashes into nothing and I want no part of it.
“Most of these good dudes are f*in old or dead. The Federal govt rewarded the most abusive risk takers about 12 years now. You now have tent style “investment firms” wink, that are playing poker with free money for short term wealth. These kids see the lies very clearly – printing money and giving it to one wealthy class is social!sm. You want to call it “saving capitalism” but it has robbed savers and lower class for years.”
Every one of us benefited from that economy being saved. Every single one of us. Understand this.
Again, the system is not perfect That bailout wasn’t handing out money, it was shoring up the entire system from epic collapse. We are humans, therefore not perfect. We must not demand perfection when it is not possible.
Thanks chi. I realize it is not a conspiracy but it is self-serving overall. They want their clients to know that have a handle on the situation.. but there has been major short-positions for years and prime dealers were happy to take hedgie money. Now, they want to call out the novice investors rather than the game itself.
You are a such a drama queen. Did the US become MX when S&Ls failed by 1000s or in 2000 tech bubble collapsed? When Enron, Worldcom, Anderson scandals hit in 2002? There was massive fraud in 2008 and lots of big players should have been taken out, many in Europe and elsewhere. Pain had to come. Should AIG exist..no f-in way. Keep dreaming that it is not social*sm. 26 trillion in debt and counting. The Fed is the world’s broker dealer. Business can’t exist without free money and bailouts, but never mind guy behind curtain. It the eyes of obtuse, it is capitalism at its finest..or ‘never has the Fed had such great control of the economy’..what a nugget of stupid.
“Every one of us benefited from that economy being saved. Every single one of us. Understand this.”
The top 10% own 81% of stock wealth, the next 10% (80th to 90th percentile) own 11% and the bottom 80% own 8%. Now Pumps, tell us more about how the system crash would have hurt.
The world would have been drastically improved for far more people had the risk takers on Wall Street been let to be punished further. The moral hazard in saving them has only increased the likelihood of the same thing occurring. Debt matters! Not right now. But your children are going to be cursing your name when it finally does. Prepare them now. Eat Chinese food more frequently.
Bystander. I don’t want a political hit job, I just want the truth. If Hunter was Trunps son or another Republican politicians son, the Democrats would be howling! That’s my biggest problem with the Democrats, their hypocrisy!
Cuomo
Created a useless containment zone and sent covid patients back into nursing homes. Then does a victory lap and writes a book about leadership.
Him and trump have similar personalities.
They are all the same. Only out to enrich themselves.
Instead of living safe and secure, you would be scared for your life right now. That’s how. Instead of looking at your 401k being worth millions, it would be worthless right now. Your standard of living would be down the tubes…
Libturd says:
January 28, 2021 at 1:01 pm
“Every one of us benefited from that economy being saved. Every single one of us. Understand this.”
The top 10% own 81% of stock wealth, the next 10% (80th to 90th percentile) own 11% and the bottom 80% own 8%. Now Pumps, tell us more about how the system crash would have hurt.
You guys don’t get how the system works. Damn the man, but you need them to keep this society safe and secure.
Go ask the poor families why they loved their mafia boss. Damn the man, but he kept the space safe. Made daily life consistently safe. Whenever he lost power, there goes the neighborhood… no longer safe to walk the streets.
BE CAREFUL WHAT YOU ASK FOR.
The fed keeps our lives safe and secure. It keeps daily life going. Go ahead, let them stop intervening. Let it all crash. Let’s see how what rises from the ashes, but I guarantee you it won’t be better than what the fed provided.
More to the story…
So D1 Capital a $20 billion dollar hedge fund lost 20% about $4 Billion thru yesterday, they are investor in Robinhood.
https://www.crowdfundinsider.com/2020/09/167135-update-robinhood-reportedly-raises-660-million-in-total-through-series-g-investment-round/
“Dan Sundheim’s D1 Capital Partners, one of last year’s top-performing hedge funds, lost about 20% this month through Wednesday, making it one of the biggest victims yet to emerge as retail investors target hedge funds’ favorite positions”
Libturd says:
January 27, 2021 at 3:48 pm
TSLA/AAPL/FB report after the close. I expect a huge rebound tomorrow.
Bought 20K worth of Adobe here to play my prediction.
I also think the GME/AMC game stops tomorrow.
01/27/2021 15:30:19 Bought 44 ADBE @ 456.638
01/28/2021 13:45:10 Sold 44 ADBE @ 474.70
Made $800 in under 24 hours on the simplest trade ever.
See Pumps. This is how it done. Those are some real calls. Not some dumb luck induced by an unpredictable pandemic. Notice, I am out.
When this market collapses, it’s going to be another great year.
Go ask slaves how much better it was for them when they were given “free” room and board.
The Great Pumpkin says:
January 28, 2021 at 1:37 pm
You guys don’t get how the system works. Damn the man, but you need them to keep this society safe and secure.
Go ask the poor families why they loved their mafia boss. Damn the man, but he kept the space safe. Made daily life consistently safe. Whenever he lost power, there goes the neighborhood… no longer safe to walk the streets.
“Instead of looking at your 401k being worth millions, it would be worthless right now.”
Wrong. I was almost entirely in a PIMCO stable fund at the time and was shorting real estate through a leveraged and leaky ETF (thanks again to Chi who warned me to sell every night and rebuy in the morning).
You have a lot to learn young grasshopper.
Occasionally, you spout something sensical from Warren Buffet. Shame you don’t ever listen to it. The ARK funds are the exact opposite of something he would suggest you invest in.
Also, Warren Buffet is the cheapest man alive. He knows, that the more you save, the sooner you get richer. After a while,.you realize you really haven’t missed much while, your brother who drives the BMW and eats $50 lunches is still working while you’ve been lying in a hammock for five years making more than him through investing your savings than he is making slaving 9 to 5.
I personally believe that if Robinhood, et al, were not restricting retail from buying GME this morning, the price would be $4xx rather than $2xx. Not because of retail’s contribution to price directly, but because the retail buying would be tinder for the fire of institutional GME long trades. Just a personal opinion, but I do believe that the brokerages are letting the shorts cover more gently than would be the case if the trading access wasn’t blocked for retail.
Can someone check my math on short bleeding – If a hedge fund was, say, short GME at a $5 cost basis with 1% of their AUM, and did not hedge that position, then when the price of a share of GME hit $250, then they had (on paper) wiped out 50% of their AUM, right?
I don’t know what kind of margin agreements the hedge funds have, but surely some fund would get margin called if they blew out 50% of their AUM in one position on paper, right?
Haha – VCs and the White House? Time for Impeachment.
https://twitter.com/Jrinehart96/status/1354862939623321600/photo/1
Hope they made some money 💰 on Robinhood.
https://www.npr.org/sections/health-shots/2021/01/27/961196647/birthday-rule-blindsides-first-time-parents-with-a-mammoth-medical-bill?ft=nprml&f=1001
Well done. I don’t doubt your skills. I just don’t agree with you on ARK.
“See Pumps. This is how it done. Those are some real calls. Not some dumb luck induced by an unpredictable pandemic. Notice, I am out.”
We all know there are two sets of rules. Same as for the politicians. All connected through corruption.
After getting my first vaccination at the mega nice Essex County Vocational High School they just built. I decided to look into that rabbit hole. So I first went to check out where the 3o something million went to build the school (it’s really a rehab, but believe me, there is no sign of the former building there). The first name that came up was the architectural firm who got paid a cool 1.5 million. Looked up the name of the firm and lo and behold, one of the two partners was a huge Essex County Dems contributor. I dug a little deeper and found a family connection to a major Essex County Dem operative who spent time in jail for voter fraud. Digging deeper still, I notice this fraud is married to a state assembly person who currently represents a district in Newark. So I explain all of this to Gator and she too enters the rabbit hole and notices that the principal for this school is Joey D’s double dipping brother. How convenient.
Why do we stand for this sh1t?
Brokerage companies using cancel culture now.
The game is rigged.
“Why do we stand for this sh1t?”.
What are you going to do about it, riot?
No government entity is going to help you.
At least in 2008, they let the market play out and gave he losers free money to get back in the game. This time they are literally trying to pick the winners.
There’s no winning when everything is burning to the ground around you. That’s what I learned from that. You always take the bet against the sky is falling, chances are it won’t happen, and if it does, it won’t matter that you lost…everyone lost.
Just picture the 2008 crash. Just imagine what it would look like if they let it burn to the ground. The domino effect of every industry going under. Then the govt goes broke from lack of revenue. IT IS HELL ON EARTH. All of sudden, just like “Walking Dead,” new individuals come to take power. Society as you know it is gone. Ask the Romans…1300 years of “dark ages” after their fall. Pure brutality ruled. Education down the drain…back to barbaric animals we become.
Libturd says:
January 28, 2021 at 1:57 pm
“Instead of looking at your 401k being worth millions, it would be worthless right now.”
Wrong. I was almost entirely in a PIMCO stable fund at the time and was shorting real estate through a leveraged and leaky ETF (thanks again to Chi who warned me to sell every night and rebuy in the morning).
You have a lot to learn young grasshopper.
FF Eddie @ 9:36AM – Well, ya can’t molest children via Zoom so I can see the necessity to remain in person.
It is who we are by nature. Money isn’t the root of all evil, human nature is. Why would you think we can exist without corruption? That’s why are fore father’s created the govt that we have based on separation of power, and no religion. They tried their damn hardest to protect us from ourselves.
“Why do we stand for this sh1t?”
Portnoy and Stevie back and forth, right now on Twitter.
You can bet Stevie is enjoying this.
https://twitter.com/stoolpresidente
Phoenix,
I have had to deal with similar situations to that family at least ten times now. I fell like I lose a year of my life every time I call BCBS. And the script readers who answer the phone don’t even listen to what you are asking for. On the rare occasion that they do, they clearly make no promises and have to answer with such legalease, that you often feel less confident about what they tell you than had you not called in the first place.
Here’s a perfect example. My little one needs occupational therapy. His awesome therapist was let go from the firm she worked for the moment Covid hit. Since we are max out of pocket by February every year, we chose to continue working with her out-of-network. So I must submit the claims myself, I am currently on round 4 of submitting the same claims since I can’t get them to tell me what codes I need to use. I keep resubmitting with the codes his nuero enc gives me, but they keep rejecting any way. Last time I called, they said I need the most specific code. What they won’t do, is tell me which of the 7 codes I have will work. Insurance in this country is a god damned joke and the bain of my existence. Pray your kids stay healthy, because the sickness is not half as difficult to deal with as the aftermath of billing is.
I guarantee you wall St is already calling in those favors for funding Bidens campaign
@tedcruz
Fully agree. Down pointing backhand index
Quote Tweet
Alexandria Ocasio-Cortez
@AOC
· 3h
This is unacceptable.
We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.
As a member of the Financial Services Cmte, I’d support a hearing if necessary. twitter.com/motherboard/st…
Save the tendies..
Maxine Waters is the Chairwoman of the House Finance committee. No comment from her yet, but when it does come it will be a doozy.
However “Wall Street scourge” Sherrod Brown is the Senate banking chair has chimed in he wants hearings ASAP.
Phoenix, I bet the large medical bill came from the decision of the hospital trying to lower their c sect rate and hit the recommended metric. meanwhile the mommas are all in poor health and older which leads to seeing a lot newborns getting screwed because of this. Not good for either mom or baby. Doctors no longer make the decision its a bureaucrat upstairs sitting at a computer and trying to massage the % of C section rate with complete disregard for the baby.
Lib: I continue to be in the same boat as you for other reasons. Not to point a finger when I am complete unknowledgeable about the situation, but your provider should know the codes….. and these codes are subject to change an any time, but the provider should be on top of that and feeding you correct information. You are doing them a big enough favor by dealing with BCBS yourself. The least they can do for you is help you receive your subsidy to pay them.
Libturd says:
January 28, 2021 at 3:05 pm
Phoenix,
I have had to deal with similar situations to that family at least ten times now. I fell like I lose a year of my life every time I call BCBS. And the script readers who answer the phone don’t even listen to what you are asking for. On the rare occasion that they do, they clearly make no promises and have to answer with such legalease, that you often feel less confident about what they tell you than had you not called in the first place.
Here’s a perfect example. My little one needs occupational therapy. His awesome therapist was let go from the firm she worked for the moment Covid hit. Since we are max out of pocket by February every year, we chose to continue working with her out-of-network. So I must submit the claims myself, I am currently on round 4 of submitting the same claims since I can’t get them to tell me what codes I need to use. I keep resubmitting with the codes his nuero enc gives me, but they keep rejecting any way. Last time I called, they said I need the most specific code. What they won’t do, is tell me which of the 7 codes I have will work. Insurance in this country is a god damned joke and the bain of my existence. Pray your kids stay healthy, because the sickness is not half as difficult to deal with as the aftermath of billing is.
Lib,
Appreciate the other side of the coin with ARK. Helps me to avoid tunnel vision.
Rough day for DFV, might have to sell the Hamptons house.
https://i.redd.it/opzucppb15e61.png
Lol GME +76 in after hours @ 270
“Robinhood will allow limited buying of restricted securities Friday, GameStop jumps after hours.”
Translation 1 share a day maybe, the VC’s don’t want to lose their billion dollar investment.
I can’t tell who I hate more, Portnoy a newly minted self-professed day trader bro who advocated for violence against cyclists, or Cohen your run of the mill billionaire just trying to make a living at the expense of future generations of Americans.
What a fkn time to be alive!
u/DeepFknValue lost $20MM on paper today.
Diamond hands
Doubled my IRA and still have more to go.
Juice,
Thanks for posting accurate DFV info. I can’t tell if tongue in cheek, do you genuinely believe that DFV is some deep pocket operative who documented his journey on r/WSB for 17+ months?
Boomer – DFV is the Tyler Durden of the 2020s….
Is this some kind of clever ruse? I would think not based upon the timeline of comments, it’s not Burry either this we know. Mohamed El-Erian said today an easy book deal and perhaps a movie when this all plays out.
Tom Holland, Ansel Elgort Daniel Radcliff all vying for the role as DFV. The Story of an furloughed GameStop employee, and failed professional gamer now turned day trader superhero, inspired by his Hero Michael Burry (reprise role by Christian Bale), to save the company he loves and to get the girl who only dates bad boys.
CNBC earlier reported that RobinHood drew on lines at GS and I believe JPM.
Looks like shutting off the kids’ trading was an RH liquidity/capital issue…
CEO was on CNBC this morning, think I just heard he’ll be back on shortly for anyone interested…
“Made $800 in under 24 hours on the simplest trade ever. See Pumps. This is how it done.”
My first trade this morning was BEAM. Looked at Cathy’s buy list from yesterday, saw she grabbed some, liked the company and the daily chart, blended purchase in the 94s, rode it to first resistance level of 100 where she levelled out. Exited at lunch. Would have held it if it weren’t my trading account.
CW just dropped ARK’s activity from today. Fewer names (16), less interesting (GOOG, TSLA, sell ROKU).
Anyone want to pick through the smaller stuff with a view they would share feel free. otherwise I may do later.
Funny. Citadel seems to be culprit in forcing RH shutdown. Did not see this POV earlier.
https://isthesqueezesquoze.com/
If this pandemic never hit, my calls for roaring 20’s 2.0 were dead on.
“You know political spin is at work when the economy grows by 4% in the fourth quarter but the headlines are that growth fell for the entire pandemic year. Everyone already knows the economy fell off the cliff in the first half of 2020. The news is that the economic recovery is continuing despite the winter Covid surge.
That’s the real story from Thursday’s GDP report, which showed a remarkably resilient economy amid the worst of the pandemic. The 4% growth followed a rebound of 33.4% in the third quarter. The economy shrank by 3.5% for all of 2020. But nominal GDP in the fourth quarter rose to $21.48 trillion, which is nearly back to the peak of $21.75 trillion in the fourth quarter of 2019.
The depression many feared in the spring, not without cause, was averted. The economy entered 2021 with decent momentum and is poised to expand rapidly this year as the vaccine rollout proceeds and states like Michigan, New York and California end their punitive lockdowns on business. Is it merely a coincidence that these lockdowns are easing now that Joe Biden is President?
The details of the GDP report underscore the case for optimism. Private business investment provided most of the growth with a 25.3% surge. Residential construction rose 33.5% as the housing boom continues, but investment in equipment was also up 25%. The latter fits with the buoyant manufacturing indexes that suggest business optimism about orders and future demand.”
https://www.wsj.com/articles/the-economy-keeps-growing-11611876868?st=pq0aaeemky1pmkx&reflink=article_copyURL_share
..and Jerry’s nose grew two sizes this day.
“Federal Reserve Chairman Jerome Powell on Wednesday said the central bank’s policies are not the main driver for higher asset prices, but market expectations for a return to normal”
Lefty,
It’s why I willingly sign up to have her and her team charge me .075% to actively trade stocks for me. She understand the value and does a great job swinging it.
WallStreetBets Founder Reckons With Legacy Amid Stock-Market Frenzy
https://www.wsj.com/articles/wallstreetbets-founder-reckons-with-legacy-amid-memes-loss-porn-and-online-threats-11611829800
Priceless:
“The group counted only a few thousand subscribers in its first few years—among them, former pharmaceutical executive Martin Shkreli, who briefly served as a moderator before being convicted of securities fraud. (WallStreetBets’ Twitter account wished him good luck on his sentencing in March 2018.)”
I’m speechless. AOC and “the left” actually defending this bs.
https://www.vice.com/en/article/88ae5z/aoc-ted-cruz-agree-robinhood-gamestop-stock-ban-is-unacceptable
Abandon all hope.
WallStreetBets Founder Reckons With Legacy Amid Stock-Market Frenzy
Article over at the WSJ. Can’t post the link bc it has word that the spam filter doesn’t like. Priceless:
“The group counted only a few thousand subscribers in its first few years—among them, former pharmaceutical executive Martin Shkreli, who briefly served as a moderator before being convicted of securities fraud. (WallStreetBets’ Twitter account wished him good luck on his sentencing in March 2018.)”
And AOC and Cruz are taking a principles stand in the defense of borderline securities fraud.
https://www.vice.com/en/article/88ae5z/aoc-ted-cruz-agree-robinhood-gamestop-stock-ban-is-unacceptable
Abandon all hope.
Apologies for the typos. Cooking (food, not the books!) and posting.
“It’s why I willingly sign up to have her and her team charge me .075% to actively trade stocks for me. She understand the value and does a great job swinging it.”
Uhmm, I grabbed 7% between meals piggybacking her work with ten minutes of research and two clicks…And if I wanted a good portion of my portfolio to be GOOG, TSLA, NVS, TER, PYPL, SHOP, and TDOC at these prices I would just buy them…not like they’re undiscovered or anything.
I do fully appreciate her for rooting out lesser known ideas like BEAM that I’ll opt in/out on….
Bike lanes: https://www.instagram.com/p/CKmo9Tsnc5p/?igshid=i14pmte9uwj1
“Rough day for DFV, might have to sell the Hamptons house.”
Eh, Juice, these days the $14m he lost only gets you a shack in Quogue anyway.. :)
Don’t know if you saw the RH interview around 5:45p….Founder basically said it was a maintenance issue at the clearinghouse and confirmed line drawdowns….interested in views/details you may have from experience if any. Systemic risk simmering?
Fcuking would take the cake….with all the micro-engineering done by the Fed over the past couple years a sh1tty retailer for 20-somethings with the economic prospects of Blockbuster busts the system this go around.
Moderna dose 2 did a wicked number of the missus. Laid out like the flu.
Robinhood is going to get slaughtered in this class action.
Grim,
Heard the same thing from a few now. She’ll be back to new in 48 hours.
Leftwing,
I looked at your stock. I can’t offer an opinion based on financials. Sorry. Just not enough history. Too slow growth for my blood.
Grim, my father said that the symptoms of the second shot were identical to when he had full blown Covid. But they were gone after a day.
I got the first shot 5 hours ago in Rockaway. Military running operations in the old Sears building. 100% professional operation being run there.
I am happy I have some many guinea pigs around here to take the vaccine first. Let me know if your the side effects are true and your libido increases to the point you need three sister wives.
Bystander: Powell is a fricking moron!! Scary that he is Fed Chairman.
So, the first ARK buy company I looked at…seems a few of you may be helped by them….
https://www.sec.gov/Archives/edgar/data/1481646/000104746920005276/a2242555z424b4.htm
GME and blood in the water . . .
Do any of you guys smell blood in the water ahead of tomorrow? Both the CEO of Robinhood and the CEO of IBKR have essentially claimed it was liquidity concerns that caused them to disallow buying in GME today. In the interview linked below, Petterfy essentially said that the squeeze was going to keep going (i.e., upwards in price from $468!).
Anyone jumping in long on GME in the afterhours, pre-market or at the open tomorrow? Position size=what you are willing lose down to $0?
https://www.youtube.com/watch?v=7RH4XKP55fM&feature=youtu.be
Crushed…
CNBC Sorkin interview with Vlad from Robinhood.
“in order to protect the firm and protect our custo*mers we had to limit buying in these stocks” “no liquidly issues”
Fine no marg*in trades sure, but no trades with cash? All other stocks are fine?
Not how it works…
Sleepy Joe is taking a nap nothing will happen, heads I win tails you lose.
I am happy I have some many guinea pigs around here to take the vaccine first. Let me know if your the side effects are true and your libido increases to the point you need three sister wives.
5 hours in, I now have some chills. For what it’s worth, I never get cold. I used to keep my apartment at 50 degrees in the winter and haven’t owned a winter coat in 20 years.
The leadership and suits openly raped the common folks today. It will be worse in the upcoming days. Vlad and others saying you can sell (close) but not buy. What kind of market that is?
Perfect pivot to crypto and physical metals. Second turning of the scarred dot.com generation. The de-fi will grow with this event.
DOGE is up 400% against BTC in the last 24H.
So what now that the people have realized they can manipulate any stock?
You aren’t putting this cat back in a bag.
Go long vix and pump and dumpers.
Logging off for a couple of days. Can’t stand watching “the common folks” impale themselves at the altar of greed, resentment and stupidity. With the full support and encouragement of the “right” and the “left”.
Abandon all hope.
I don’t like these stonks
The government will do the only thing it knows how to do.
grim says:
January 28, 2021 at 9:13 pm
So what now that the people have realized they can manipulate any stock?
You aren’t putting this cat back in a bag.
AP- Yup and to think the Occupy Wall St kids was a decade ago. Time really flys….
The rest of the world sees our reality tv and then eventually decides they don’t want to watch anymore.
LoL Biden can take a nap now
Aexandria Ocasio-Cortez
@AOC
Police cars revolving light Twitch Update!
@chamath will be joining me along with TheStockGuy to offer some updates and insight. Might be more to come
Yup, it’s f’ed. Greed going to take it down..
grim says:
January 28, 2021 at 9:13 pm
So what now that the people have realized they can manipulate any stock?
You aren’t putting this cat back in a bag.
Hilarious…Blame the children..
GME..
After Hours: Last | 7:59 PM EST
311.99
quote price arrow up+118.39 (+61.15%)
It’s sad..
AP says:
January 28, 2021 at 9:15 pm
Logging off for a couple of days. Can’t stand watching “the common folks” impale themselves at the altar of greed, resentment and stupidity. With the full support and encouragement of the “right” and the “left”.
Abandon all hope.
Going to buy some SLV and some OTM calls in SLV tomorrow. These kids are crazy and are looking to cause havoc in certain markets. I’ve held a huge stockpile for 15 years waiting for this day. Normally stay away from any miners since 2009. Those companies have always been horribly managed….but now since the flavor of the month is to pump prime companies that don’t do so well and are being shorted, it might be time to dip back in.
Logging off for a couple of days. Can’t stand watching “the common folks” impale themselves at the altar of greed, resentment and stupidity. With the full support and encouragement of the “right” and the “left”.
Abandon all hope.
Impale? The only money these common folk have is their stimulus check. They let it ride. What’s the difference? They lose…no new iphone?
BRT,
They are leveraging. This is going to end badly.
Remember, even if they are successful with this, it will only feed their inner need to do it again. They are going to keep trying to do this again till they get wiped out. That’s how game always ends with greed and the lust for quick money..
“Not how it works…”
Juice, explain please.
Who is the clearinghouse that both Peterffy and Vlad reference? How does the clearinghouse matter for RH if they are selling their order flow to Citadel, wouldn’t any clearinghouse obligations belong to Ciadel?
I watched both Vlad interveiws today and the entire Peterffy. Definitely came away with slightly different opinions…Vlad was trying to assert ‘customer protection’ but conceded that they needed more ‘on deposit’ with the clearinghouse and that they drew down their credit lines, felt to me like he was trying to dodge liquidity questions and willing to take the customer hit to do so…..Peterffy OTOH seemed to try to claim ‘system protection’ but let loose a couple of times a paternalistic attitude, eg. ‘stock is only worth a small fraction of where it is, we can’t have our customers buying here’.
One thing perked my ears with Peterffy was his description of option losses (10-15B) that ‘somebody’ needs to absorb causing him concern for the system and the clearinghouse…again, I’m out of my element at this level of specificity but if he was concerned about counterparty risk his clients going long more stock shouldn’t impact that? Is Peterffy is truly concerned about systemic risk or was that just convenient cover for his view of what his customers should/should not be doing…..
D-Fens, her response was brutal.
Alexandria Ocasio-Cortez
@AOC
·
3h
I am happy to work with Republicans on this issue where there’s common ground, but you almost had me murdered 3 weeks ago so you can sit this one out.
Happy to work w/ almost any other GOP that aren’t trying to get me killed.
In the meantime if you want to help, you can resign.
Know what’s funny? When Trump was the POTUS, Republican wonks would argue that half the Covid deaths weren’t from Covid. Now that Biden is POTUS, R wonks are claiming that Cuomo undercounted the number of Covid deaths in nursing homes. Bet we won’t see that meme on their Facebook pages.
“This GameStop nonsense is advertised as a David vs Goliath battle but really it’s nonsense once again because:
1. Big hedge funds cashed in very big on this pump. Only short sellers lost and specifically the one Reddit was targeting. It was vengeance towards a few rather than just cause.
2. It shows how the SEC doesn’t know how to do it’s job in preventing pumping stocks. Also no stock should have more than 50% short interest to prevent gambling squeezes.
3. It revealed Robinhood as a pawn for Hedge Fund Citadel short seller. Robinhood is on its way to bankruptcy with lawsuits coming.
4. People think it ok if a stock value doesn’t closely represent the fundamental value of a company. Which means we are legitimizing the stock market as a gambling arena.
5. Many retail investors who just follow blindly without due diligence will lose money.
6. Shitcoins are for gamblers not company stocks. Order should be restored and new rules implemented.
The stupidity on this topic is propagated like a disease.”
BRT,
They are leveraging. This is going to end badly.
Remember, even if they are successful with this, it will only feed their inner need to do it again. They are going to keep trying to do this again till they get wiped out. That’s how game always ends with greed and the lust for quick money..
You don’t get it. It doesn’t matter if they get wiped out. They had nothing prior to that stimulus check arriving. This is a zero sum game. Every transaction on the stock market has a winner and loser.
She is no different than trump. Understand this. Playing the populace like a snake. Almost had her killed? If you say so..
Fabius Maximus says:
January 28, 2021 at 10:34 pm
D-Fens, her response was brutal.
Alexandria Ocasio-Cortez
@AOC
·
3h
I am happy to work with Republicans on this issue where there’s common ground, but you almost had me murdered 3 weeks ago so you can sit this one out.
Happy to work w/ almost any other GOP that aren’t trying to get me killed.
In the meantime if you want to help, you can resign.
NEW YORK – A new billboard in Los Angeles says “New York is dead. Don’t come back” but the message is not what it might seem.
They say the “New York is Dead” sign is a love letter to those doubling down in New York and choosing to rebuild and a “golf clap to those on their way out.”
The installation is a rebuttal to those who are fleeing the city due to coronavirus and other economic reasons.
More people have left New York than any other city in the country but the backers of the campaign say those who remain will make the city stronger.
https://www.fox5ny.com/news/la-billboard-tells-transplants-that-new-york-is-dead-dont-come-back
Some investors have an upset stomach from the trading action of the past few days. Now others are wondering if Wall Street was behind the worst of it.
On Wednesday, the major U.S. indexes fell more than 2% and had fallen almost 3% between Tuesday and Wednesday. In short, the volume of bullish call options on heavily shorted stocks surged. The brokers who write options contracts hedge the contracts by buying stocks, sending those stocks ever higher. The short sellers then must cover their positions by buying the shares of those companies back. In order to fund those purchases, those short sellers sold out of long positions in other stocks to raise the cash. That pressured the broader market.
Now, “investors are increasingly concerned about ‘market structure,’” wrote Dennis DeBusschere, head of portfolio strategy research at Evercore. “Under that logic, yesterday’s market selloff and volatility spike was not just a de-risking, but a sign of something more systemic.” DeBusschere doesn’t share the concerns of the investors he had spoken with.
The big concern among those investors: The type of episode seen in the stock market this week could happen again because—contrary to popular belief—it wasn’t just retail traders driving all of the action. Pros like proprietary and high-frequency traders may have been at it as well. That means they could continue to amplify the noise retail traders had begun.
First off, Wednesday saw about 39.9 million call options traded, almost twice the trailing one-year low for daily volume of all options traded, according to data from the Office of the Comptroller of the Currency. That means the call volumes Wednesday exceeded that of the one-year low by an even greater difference than roughly two times.
“There’s absolutely institutional money at play here,” David Trainer, CEO of research firm New Constructs and former analyst at Credit Suisse, told Barron’s. “If you look at the tape, there were 10,000 share blocks being traded,” he said, which suggests professional traders were part of the action.
It’s likely that retail investors indeed began the frenzy, but then institutional investors rode the bullish moves. “You’ve got reckless and unsuspecting investors out there that push stocks around and you [institutional investors] can see the flows,” Trainer said before positing that professional traders might see incoming bullish orders for stocks and then decide to play the long side of those stocks as a result.
https://apple.news/A4yrjWnVkTJGSS4sM-5NG4A
NJ.com: Cha-Ching.
https://www.nj.com/education/2021/01/the-25-nj-school-districts-where-teachers-make-the-most.html
BTC in 2017 . . .
11/17/17 – 7,906 USD/BTC
11/20/17 – 8,113
11/23/17 – 8,155
11/26/17 – 9,026
11/29/17 – 11,105
12/2/17 – 11,134
12/5/17 – 11,802
12/8/17 – 15,318
12/11/17 – 16,670
12/14/17 – 16,742
12/17/17 – 20,088
12/20/17 – 17,682
12/23/17 – 15,179
12/26/17 – 15,198
12/29/17 – 14,458
—–
2/2/19 – 3,494
I’d say BTC in late 2017 was our last investing mania. GME is today’s mania.
5 Stages of a Bubble (from Investopedia):
(1) Displacement – investors become enamored with a new paradigm [Reddit can move a stock price and maybe cause a short squeeze]
(2) Boom – momentum attracts more and more participants, widespread media coverage, and FOMO [WSB added 2.5M users in like 24 hours, and CNBC aired “Reddit Revolution” tonight for two hours instead of regular programming and GME has been the top story of all business news the last 48 hours]
(3) Euphoria – caution is thrown to the wind and new valuation metrics are used to justify higher prices [the angry masses are willing to lose it all to send a message to elites?]
(4) Profit-Taking – smart money takes profits [did this already happen?]
(5) Panic – a relatively minor event can pop the bubble, and amidst margin calls and plunging values, bagholders liquidate at any price
We’re in Day 16 of the GME/reddit bubble. BTC 2017 was a 30-day window of pretty much consistently-rising price. I don’t know if GME already peaked, will peak tomorrow or still has a few days. Interesting times. Power to the players.
Lol, you are never the “customer” of a low cost brokerage, you are the “product”.
No tweets from Bernie about GME. Must have been bought off years ago
You can’t tweet with mittens on.
Or knitted Posey’s
I set my Sell limit order at $1,500
“Robinhood starts SELLING users’ shares without permission: Trading platform is hit with massive class-action after restricting trades on stocks including GameStop, Nokia, AMC and Blackberry”
Americans have absolutely no confidence in their government, police, justice and medical systems, schools, or Wall Street.
It’s a free for all now. Lie, cheat, steal, anything you need to do to survive.
I give it 5 years.
Exactly what I told my friend complaining that it’s “rigged.” Robin Hood is a business, they can do whatever the f they want. A company that is their biggest investor, aka boss, told them to stop, so they did. There is no law against this.
grim says:
January 29, 2021 at 6:25 am
Lol, you are never the “customer” of a low cost brokerage, you are the “product”.
If you don’t like Robin Hood, find another broker to use.
Know what’s funny? When Trump was the POTUS, Republican wonks would argue that half the Covid deaths weren’t from Covid. Now that Biden is POTUS, R wonks are claiming that Cuomo undercounted the number of Covid deaths in nursing homes. Bet we won’t see that meme on their Facebook pages.
The act didn’t result in less covid deaths reported. He just transferred them over to the hospitals tally. That being said, it doesn’t matter. He’s still the 2nd worst performer in the entire world, right behind our boy Murph….and it’s all from boneheaded moves that defied logic.
Professor Parents Arrested After ‘Sacrificing’ Their Kids
The Indian couple allegedly used dumbbells as murder weapons. Despite their academic backgrounds, both claim their children will return from the dead.
https://apple.news/A065-lzs5TTGf_wt0jIXYpA
re: “Robinhood starts SELLING users’ shares”
Margin Call? Totally fine if you cannot meet your $$ obligation but if the account itself did not have a cash issue the brokerage is gonna lose here in court.
From what everyone has been guessing Robinhood had liquidity problems, between deposits clearing via a 3rd party ACH processors and their 3rd party clearing houses there had to be a cash crunch, especially for Options and Margin accounts but selling customer assets is a bail-in to what ever problems they were having most likely did not happen.
Their business model is all 3rd party, everything done from banking, clearing etc. As Grim mentioned the customer is the product and in the case it’s absolutely true. Free Trades how do they make money? Well their order flow generated something like $180 Million last quarter. This quarter has to be a massive gain after all they raised another Billion in Capital this week in venture funding.
Realistically bigger firms brokerages like Fidelity had no issues at all, and aren’t blocking trades. For them most of what happens is inhouse including clearing. No Fees too….Only difference is they don’t pitch crypto and give margin accounts to children, and pretend to democratize the stock market.
Roaring Kitty has been outed.
Is DFV next? Supposedly they are the same person.
“A YouTube streamer who helped drive a surge in the shares of GameStop is a 34-year-old financial advisor from Massachusetts and until recently worked for insurance giant MassMutual, public records and social media posts show.
Keith Patrick Gill is the person behind the Roaring Kitty YouTube streams which, along with a string of posts by Reddit user DeepF***ingValue, helped attract a flood of retail cash into GameStop, burning hedge funds who had bet against the company and roiling the broader market.
In his social media messages and videos, Gill repeatedly made the bull case for the beleaguered bricks-and-mortar retailer and shared images of his trading account profit on the stock, sparking a following of like-minded GameStop enthusiasts.
The saga has drawn the scrutiny of Congressional lawmakers, the White House, the Securities and Exchange Commission (SEC) and is being probed by the New York Attorney General.
Reuters identified Gill as Roaring Kitty through a now-dissolved New Hampshire-based company created by Gill, which shares the same name and email as his Roaring Kitty YouTube account, according to public records. The Daily Mail earlier on Thursday also identified Gill as both Roaring Kitty and DeepF***ingValue.”
Gill did not respon
https://www.cnbc.com/2021/01/29/famed-gamestop-bull-roaring-kitty-is-a-massachusetts-financial-advisor.html
Comedy before the tragedy folks, 10 minutes till open.
Pre Market GME 390.00 pre+196.40 (+101.45%)
Close was 193.60
LOL, this guy Gill’s life is going to be turned upside down……Apparently the Reddit mods actually confirm claims of large gains or take down the post so if he is up eight figures maybe it doesn’t matter….Better if he were in Nevada or Wyoming though, I’m sure a State like MA will run him on some obscure State securities law and try to disgorge his gains…
Going to be interesting. OpEx today…..
And that $1B must have hurt….I’m sure Vlad is wearing a tampon and diaper this morning….last place anyone every wants to be is calling your private equity backers and saying “uhmmm, I kinda need a billion overnight….”
halted already…..Diamond hands….
BTW – Cramer has been uncharacteristically silent for the last three days now or has he been muted?
Sure some people did not like him saying the hedge funds deserved it for shorting way too much.
Do we need to put his face on the side of milk cartons?
https://twitter.com/jimcramer/
Cramer on the phone now on CNBC, has pinched a nerve?
Begging people to sell? HAHAHAHAHAHA
Shorts are going to get creamed.
DIAMOND HANDS!
I can’t believe how many people support this bs. Pure manipulation of the market, and they are advocating for it. These are the same people that cry about the big guys rigging the market. Human nature…never fails. These guys are all doing the same exact thing they b!tch about, but it’s okay when they do it.
The hedge funds never manipulated stocks like this…that’s a fact. Sh!t stocks going up 400% in a day is destroying the market. How can you trust the market now?
JB, LOL, you long this?
His normal show at 6 PM has been off far more often than I’ve ever seen. It started sometime in the summer. I’m wondering if he’s downshifting or maybe he has an undisclosed health issue.
Full disclosure. I don’t ever watch his show.
“The hedge funds never manipulated stocks like this…that’s a fact. Sh!t stocks going up 400% in a day is destroying the market. How can you trust the market now?”
Know your history of financials markets and then come back. Happens regularly since the financial markets have existed. Names change, circumstances stay the same.
I am watching CNBC this week for the comedy only.
The amount of BS is beyond belief.
BTW that absolute tool Kevin O’Leary was great this morning….
BTW, as to be expected, GS absolutely killing it on prints. They’re on the AAL $1B print, haven’t pulled up prospectus but likely 3%. I think they were AMC too….
I made a quick hit on their earnings last week….as part of following the SPACs it was amazing (and amazingly obvious) how much money their IB division would make from the names they printed there…..
Last two days between AMC and AAL is what, $60m in fees for a morning’s worth of phone calls. Bada-boom.
You are so right leftwing.
The only difference between DFV and Wall Street is that DFV couldn’t keep his mouth shut and be nearly as effective. Wall Street doesn’t have to say anything. They just move their clients hedge fund investments and do the same thing quietly.
And AOC needs to stfu. She complains about the game being rigged, but then she supports this?
I let my son learn a valuable lesson last night. He now owns $15 of Doge which he purchased for $20. This is exactly what I hoped would happen and told him would happen. I told him to put $20 in to Apple too. He refused to. I’ll track them both.
Pumps – This is fight club and you are not a member.
AOC, though a bit too much of a loud mouth, is becoming more and more attractive by the day. She is not owned by Wall Street. It’s the only reason the rest of them are pretty much silent.
“BTW that absolute tool Kevin O’Leary was great this morning….”
O’Leary is hilarious…opposite him for the third time they had that empty suit, paternalistic, I-know-your-life-better-than-you-do District Attorney from MA…..
As the DA spews on about how there needs to be more regulation to protect investors from themselves I literally spit out my coffee when O’Leary reminded him – with the WSJ front page graphic from 1980 – that MA banned its citizens from investing in the Apple IPO because it was ‘too risky’ for them…..absolutely brilliant LOLOL.
This is not the same. A 34 year old financial advisor used a bunch of platforms like PS, Xbox, Reddit, and YouTube to pump the hell out of a stock. Glad you support this crap.
Libturd says:
January 29, 2021 at 9:59 am
You are so right leftwing.
The only difference between DFV and Wall Street is that DFV couldn’t keep his mouth shut and be nearly as effective. Wall Street doesn’t have to say anything. They just move their clients hedge fund investments and do the same thing quietly.
Democrats are going to scare Wall St with all this talk of Congressional hearings and additional regulation. Some Democrats will now try and take opportunity to now legislate transaction taxes. In other words it’s not too early to fund raise for the mid-term elections.
This is not the same. A 34 year old financial advisor used a bunch of platforms like Playsta!ion, Xbo$, Reddi!, and YouTu*e to pump the hell out of a stock. Glad you support this crap.
You guys make a killing on the stock market, yet you want to destroy it? This is wrong on so many levels with what is happening. Too bad so many people are consumed with hating the rich, that they support this. They don’t realize this is going to help make the rich even richer at your expense. You handed this to them on a silver plate.
Libturd says:
January 29, 2021 at 9:59 am
You are so right leftwing.
The only difference between DFV and Wall Street is that DFV couldn’t keep his mouth shut and be nearly as effective. Wall Street doesn’t have to say anything. They just move their clients hedge fund investments and do the same thing quietly.
At what point does it not make sense to invest in the stock market anymore? It’s quickly becoming a sh!t show. Manipulation all around. Who cares about fundamentals. Just go on twitter and use rocket ship emoji’s! To the moon! What a bunch of dumb fuc!s the avg individual is. This is why they stay poor for generations.
You can’t invest in real estate at the moment, as you can’t evict tenants. All around me, just total bs.
01/15/2021
I said it on here a few times already, but I will say it again… The Buffett’s are getting their a$$ handed to them going against the new retail investor. The avg retail investor is much much smarter than yesterday.
https://njrereport.com/index.php/2021/01/25/c19-open-discussion-week-47/#comment-1193131
bipolar
Pumps – one second you scream about your ARK investments how bright the future is via innovation bla bla bla..next second you scream to shut it all down.
This is innovation. Disruption is innovation. Giving a millions kids options accounts and lettings them go wild is financial innovation. It’s never been done before, and I think it’s working great so far. I can’t wait until Joe Biden gives them all an additional stimulus check. Another few hundred billion into the markets.
To Mars!!!!
face,
These aren’t the smart investors I was talking about. This isn’t investing. This is bs. Go ahead, support that greed and lust for quick money.
Just pisses me off. Humans always have to mess things up with pure uninhibited greed.
F it, let them burn it all down. I’m just grabbing the popcorn and enjoying the show.
“To Mars!!!!”
You’re on fcuking fire this morning, LOLOLOL.
I’ll petition grim to get you some spaceship emojis on here!
WeBull CEO on potential market breakdown . . .
DTC raised their collateral requirement from 1-2% to 100% for GME, AMC and KOSS.
He seems to suggest that it looked like some hedge fund shorts wouldn’t be able to cover their losses, then their clearhouse might not be able to cover that loss. Thus, the clearinghouses made WeBull shut down buys.
This interview is eye-opening. If you read between the lines of Vlad Tenev’s interview, it sounded like some of this was potentially going on. Denier put it out there plainly – there is a lot of concern about counterparty risk right now. I am pleasantly surprised that there is not a bigger marketwide selloff in reaction to his commentary. Thus, to date, it seems that the banks high up were able to arrange the financing to let the system keep operating.
If GME hits $500, I believe there will be pressure on its Board to issue new shares and call its own top. Alternatively, they will halt this thing for a few hours or a few days and encourage those who are up to take their profits rather than hold/make additional potential buyers scared of jumping in.
https://www.youtube.com/watch?v=4RS4JIEVyXM&feature=youtu.be
Leftwing – WSJ interviewed DFV. I hope he gets the book and movie deal locked up soon. I mean look at the picture he used, it’s a total LARP. Uno Cards, Calculator, magic 8 ball, Cat t-shirt….LOL
https://www.wsj.com/articles/keith-gill-drove-the-gamestop-reddit-mania-he-talked-to-the-journal-11611931696
They’re gonna tax the shiiiiit out of rich parasites.
AOC is an absolute idiot, 4 years in college did nothing for her. And she talks like a middle school girl. But as noted at least she is not bought and paid for. Yet. But that will change I am sure.
“I am pleasantly surprised that there is not a bigger marketwide selloff in reaction to his commentary.”
Mentioned here end of day Wednesday that vol exploded more than it should have. Market as usual was a cycle ahead of the news…..
TY on the two Gill links…I’ll crack a nice 18 year old tonight (scotch, you pervs) after close and read.
Crushed – One thing does not lead to another, again hedge funds can’t cover is the Prime Brokers problem not the clearing house.
So it’s NOT a problem when a hedge fund manager see’s a brick & mortar that they think will fail due to the pandemic (forgetting that the new Xbox is due out) and tries to short the shares into bankruptcy using a group of rich investors money to do it. But it IS a problem when a reddit board member (who knows the new Xbox is due out) tries tp squeeze the short out of their positions using a group of poor investors money to do it (or really, just telling them all how to do it themselves).
You make no sense here. Ignoring all of the noise (which is impossible for you to do based on the crapmagnet mentality you so frequently display here), what I described above is exactly what happened. The reason the market was spooked by it is because the rich, who own 84% of it, don’t like the concept of being exposed nor want to let others participate in their easy money game.
My comment at 10:39 . . .
Or, if GME hits $500, then maybe behind-the-scenes, the Vanguard’s, Blackrock’s and State Street maybe are persuaded to sell off some of their huge GME holdings to add liquidity to the market and knock down the price.
So it’s NOT a problem when a hedge fund manager see’s a brick & mortar that they think will fail due to the pandemic (forgetting that the new Xb0x is due out) and tries to short the shares into bankruptcy using a group of rich investors money to do it. But it IS a problem when a reddit board member (who knows the new Xb0x is due out) tries tp squeeze the short out of their positions using a group of poor investors money to do it (or really, just telling them all how to do it themselves).
You make no sense here. Ignoring all of the noise (which is impossible for you to do based on the crapmagnet mentality you so frequently display here), what I described above is exactly what happened. The reason the market was spooked by it is because the rich, who own 84% of it, don’t like the concept of being exposed nor want to let others participate in their easy money game.
Lib -leave pumps alone he has paper hands.
You need diamond hands to be in fight club.
Forbes January 26 article. NYC is ranked worst in financial health of the 75 most populous cities. NYC has only 25 percent of funds necessary about 65 billion to pay 259 billion worth of bills. Of the 341 billion in retirement benefits NYC has promised almost 50 percent are unfounded. 47 billion in pension and 116 billion in retiree benefits.
NYC would need $68,200.00 from each of its taxpayers to pay all of its bills.
BTW, I just trademarked the term “crapmagnet mentality.”
You may not use it without my expressed permission unless referring to the village idiot, from which I release all rights to its exclusivity.
https://www.wsj.com/articles/keith-gill-drove-the-gamestop-reddit-mania-he-talked-to-the-journal-11611931696
I cannot believe CNBC full on doxxed him. Posted his real name, age, employer, and family members?
Fcuking scumbags
Juice Box says:
January 29, 2021 at 10:41 am
Leftwing – WSJ interviewed DFV. I hope he gets the book and movie deal locked up soon. I mean look at the picture he used, it’s a total LARP. Uno Cards, Calculator, magic 8 ball, Cat t-shirt….LOL
People in this country thought they had rights
Free and fair election = Lie
Free Speech = Lie
Privacy = Lie
Free Markets = Lie
They created an entire class of people with nothing to lose but their $600 Stimmy checks. 1984 was wrong. They don’t just lie down and comply.
I hear they’re building permanent perimeter fencing around the Capitol building now….
” Giving a millions kids options accounts and lettings them go wild is financial innovation.” No its not. Its the trading version of “Sign here for your new Credit Card and free bag of M&Ms.”
There will be no class action here. Its “Did you read the T&C?”. Even people on the Redit where telling them to make sure the broker didn’t lend their shares.
The hard reality is that a lot of kids are going to have to dig themselves out of a hole. Maybe there will be a Redit channel on how to declare bankruptcy. Apply to grad school to give you a few extra years to clean up your credit.
Yeah fix is still in. I would say pass on the Robinhood IPO and short them when they open.
Where is the SEC?
I said 1 share. I was wrong it’s only 5.
Robinhood is allowing anyone with ZERO shares of GME to buy up to 5. Anyone with currently less than 5 shares can buy more up to a total portfolio of 5 shares. Anyone with more than 5 shares can not purchase shares.
Video proof.
https://imgur.com/a/AV3IGMa
Fab – you don’t think they are gonna settle a class action for $$$? This is big money here, 2 Billion from the VCs in the last few months. They cannot IPO with shady shit going on.
Just read this…… yikes…. he has no fcuking clue what he is doing….. that really sucks…..
I hope he comes out of this OK. His old life is over. He needs to move to a hotel with security ASAP.
At the end of the day, he is just an social media influencer. He may as well be Jojo Siwa.
chicagofinance says:
January 29, 2021 at 11:10 am
https://www.wsj.com/articles/keith-gill-drove-the-gamestop-reddit-mania-he-talked-to-the-journal-11611931696
Boom!! Someone that gets it!! This was the pump of all pumps.
“At the end of the day, he is just an social media influencer. He may as well be Jojo Siwa.”
GameStop was dying. The short was correct, what was wrong was how the rules allow it to be shorted by over 100%.
Libturd says:
January 29, 2021 at 10:48 am
So it’s NOT a problem when a hedge fund manager see’s a brick & mortar that they think will fail due to the pandemic (forgetting that the new Xb0x is due out) and tries to short the shares into bankruptcy using a group of rich investors money to do it. But it IS a problem when a reddit board member (who knows the new Xb0x is due out) tries tp squeeze the short out of their positions using a group of poor investors money to do it (or really, just telling them all how to do it themselves).
N.J. hospital gave out COVID vaccine to donors, trustees, family members of executives, report says
https://www.nj.com/coronavirus/2021/01/nj-hospital-gave-out-covid-vaccine-to-trustees-family-members-of-executives-report-says.html
I don’t know what’s worse… the allegations (hospital did release a statement) or Murphy’s response.
Juice: or anyone else…… any shot Robinhood got caught up here?
https://en.wikipedia.org/wiki/Hypothecation
That’s what took down Corzine, albeit he was a massive idiot and unethical.
I assume these Robinhood guys has turned over EVERY FCUKING rock in the arsenal to try and generate revenue.
MORAL? You can’t get blood from a stone.
Juice Box says:
January 29, 2021 at 8:59 am
re: “Robinhood starts SELLING users’ shares”
Margin Call? Totally fine if you cannot meet your $$ obligation but if the account itself did not have a cash issue the brokerage is gonna lose here in court.
From what everyone has been guessing Robinhood had liquidity problems, between deposits clearing via a 3rd party ACH processors and their 3rd party clearing houses there had to be a cash crunch, especially for Options and Margin accounts but selling customer assets is a bail-in to what ever problems they were having most likely did not happen.
Their business model is all 3rd party, everything done from banking, clearing etc. As Grim mentioned the customer is the product and in the case it’s absolutely true. Free Trades how do they make money? Well their order flow generated something like $180 Million last quarter. This quarter has to be a massive gain after all they raised another Billion in Capital this week in venture funding.
Realistically bigger firms brokerages like Fidelity had no issues at all, and aren’t blocking trades. For them most of what happens is inhouse including clearing. No Fees too….Only difference is they don’t pitch crypto and give margin accounts to children, and pretend to democratize the stock market.
Gill was smart enough to read the populace. Knew their hate for wall st and the rich, and used them to create the biggest manipulation we have ever seen in the market.
To be clear…… it just doesn’t make sense that Robinhood should have a capital issue…….. three thoughts: (1) what I said above; (2) Tony Montana – using their own product; (3) they are fcuking lying to cover up the gun to their head by someone with big balls.
Chicago he bought in at $5 bucks a share, so did Ryan Cohen the founder of Chewy at $8 a share in December 2020 to the tune of 9 million shares.
I bet Ryan Cohen’s CFA said it was a good move, and it was before all of the hype the shares moved up allot. The stock was around analyst fair value of $17 the first week of January.
Then a shorting Hedge fund started tweeting there was an SEC investigation of GME and that GME committed crimes, and they were going to do a presentation on it. Really not much different than what happened with Herbalife.
That is when social media took notice long before the Financial Media. Then people noticed the short interest and crowd sourced the squeeze it to take them out. It’s all out there…
Who is the greater fool here? Short interest is still huge.
Unless there is a contract language tied to a company’s shares, it is impossible to “short the shares into bankruptcy”. If a company is an ongoing concern, the secondary market is irrelevant. If GameStop is cash flow positive, it theoretically would be disappointing that their stock is in the sh!tter, but otherwise not important.
The shares are the secondary market.
Libturd says:
January 29, 2021 at 10:48 am
So it’s NOT a problem when a hedge fund manager see’s a brick & mortar that they think will fail due to the pandemic (forgetting that the new Xb0x is due out) and tries to short the shares into bankruptcy using a group of rich investors money to do it. But it IS a problem when a reddit board member (who knows the new Xb0x is due out) tries tp squeeze the short out of their positions using a group of poor investors money to do it (or really, just telling them all how to do it themselves).
You make no sense here. Ignoring all of the noise (which is impossible for you to do based on the crapmagnet mentality you so frequently display here), what I described above is exactly what happened. The reason the market was spooked by it is because the rich, who own 84% of it, don’t like the concept of being exposed nor want to let others participate in their easy money game.
I am COMPLETELY oversimplifying. He is a one trick pony.
He took the first hit of heroin. The rest of his life he is going to try to chase the feeling of the first high. If he has any scruples, he should have made a big estimated payment of taxes for any 2020 capital markets activity on 1/15/21. He needs to accrue more capital for the 4/15/21 estimated payment. The IRS & MA are watching.
Juice Box says:
January 29, 2021 at 11:45 am
Chicago he bought in at $5 bucks a share, so did Ryan Cohen the founder of Chewy at $8 a share in December 2020 to the tune of 9 million shares.
I bet Ryan Cohen’s CFA said it was a good move, and it was before all of the hype the shares moved up allot. The stock was around analyst fair value of $17 the first week of January.
Then a shorting Hedge fund started tweeting there was an SEC investigation of GME and that GME committed crimes, and they were going to do a presentation on it. Really not much different than what happened with Herbalife.
That is when social media took notice long before the Financial Media. Then people noticed the short interest and crowd sourced the squeeze it to take them out. It’s all out there…
Who is the greater fool here? Short interest is still huge.
There is one very sharp machine gun gray 2019 Mazda CX 3 AWD at Wayne Mazda. You could probably haggle that bad boy down to 16K if you know what you are doing. It’s the only 2-year leftover I could find in the state as I’ve been following the sales to see if a leftover would remain for my older one. At that price, I would tell him to skip the beater and he could pay me $100 a month for the next 12 years for it. He has 4K saved now. Sadly, it’s just too soon. If someone does grab it. Let me know what you got it for. It was this exact situation that got us our 2012 XC-9 in the driveway for 26K (tax/interest/destination included) in late 2014.
The metaphor to what the shorts were doing to GameStop is captured here by what Tony did to Chris. You are cornering a victim in need of help, and cutting off potential oxygen.
https://youtu.be/nIXhBkcobm0?t=176
chicagofinance says:
January 29, 2021 at 11:46 am
Unless there is a contract language tied to a company’s shares, it is impossible to “short the shares into bankruptcy”. If a company is an ongoing concern, the secondary market is irrelevant. If GameStop is cash flow positive, it theoretically would be disappointing that their stock is in the sh!tter, but otherwise not important.
The shares are the secondary market.
Project Veritas claims to have interviewed a Robinhood employee with firsthand knowledge of the situation. They claim Sequoia capital and the White House pressured Robinhood to halt trading.
Chi, theoretically, you are correct. But if all of those stock award grants paid to executives who were willing to stay aboard the sinking ship go worthless, the ability of the company to go on as an existing entity becomes diminished, no? The company might exist, but unless they are making some earnings, they are done. Last I looked, they are losing > $4 per share.
Come on D. They are known to make sh1t up. Without any verification, you are better off not spreading those stories which were most likely fabricated to be spread. Kind of like saying there was election fraud when there was no proof of it.
Chi – Hypothecation – Could be look who they borrowed from after all, you can bet someone pitched it to them as another revenue stream.
Fab says no class action lawsuit bla bla bla, so we may never know. Again these guys wanna IPO, and this needs to go away soon otherwise it’s just another failed app in the store as the kids will move onto more traditional brokerages if they really want to day trade.
Absence of proof is not proof of absence.
Libturd says:
January 29, 2021 at 12:08 pm
Come on D. They are known to make sh1t up. Without any verification, you are better off not spreading those stories which were most likely fabricated to be spread. Kind of like saying there was election fraud when there was no proof of it.
Again I have to say the kids are still right. Diamond Hands.
https://www.cnbc.com/2021/01/29/gamestop-short-sellers-are-still-not-surrendering-despite-nearly-20-billion-in-losses-this-year.html
Stu: GameStop is a piece of garbage. If I was a strategic consultant, I would be focused entirely on updating my shelf filing and issuing whatever the depth of the market (how about $5B?) of shares ASAP. Then immediately wind down operations, and treat GME as a SPAC. Find a good e-tailer and either tender for it, or if it is a Unicorn buy it out pre-IPO.
Do you know the history of Foot Locker? It was a Woolworth sub, and then they just sh!tcanned the company and made it Foot Locker.
Libturd says:
January 29, 2021 at 12:03 pm
Chi, theoretically, you are correct. But if all of those stock award grants paid to executives who were willing to stay aboard the sinking ship go worthless, the ability of the company to go on as an existing entity becomes diminished, no? The company might exist, but unless they are making some earnings, they are done. Last I looked, they are losing > $4 per share.
Ugh…pathetic. Bought and paid for. Demands to know who would dare fcuk up a hedge fund short.
https://twitter.com/SenWarren/status/1355187260514250754?s=20
My vote. But I don’t have diamond hands.
(3) they are fcuking lying to cover up the gun to their head by someone with big balls.
Elizabeth Warren is essentially asking the SEC to investigate reddit posts. Fcuking witch!
Poor Kitty,
They are going to euthanize him.
God bless Elizabeth Warren for taking the responsible approach. Thank you for being an adult while AOC pouts and screams like a child.
There is no moral authority here on any side. The best focus is pragmatism.
Everyone is greedy. Any complaints are either weakness in character or attempts to build a strategic advantage. Be analytic and patient. We will all have answers. There is no conspiracy here.
D-FENS says:
January 29, 2021 at 12:27 pm
Ugh…pathetic. Bought and paid for. Demands to know who would dare fcuk up a hedge fund short.
https://twitter.com/SenWarren/status/1355187260514250754?s=20
Can we get Trump back?
Bwaahaaaahahahahaha.
Of course Chi. Anyone sniffing a decent buying opportunity ahead of the coming porkulus?
Pumps – Just another diversion, a snipe hunt for the SEC. You have to remember they aren’t going to look under the covers, they are going and write a report about a bunch of bloggers. It’s a dead end.
You do know the Hedge funds some we are talking about here with the Reddit trade were bailed out last year by the Fed.
See if you can figure out what this is?
Statement Regarding Treasury Reserve Management Purchases and Repurchase Operations
March 12, 2020
Today, March 12, 2020, the Desk will offer $500 billion in a three-month repo operation at 1:30 pm ET that will settle on March 13, 2020. Tomorrow, the Desk will further offer $500 billion in a three-month repo operation and $500 billion in a one-month repo operation for same day settlement. Three-month and one-month repo operations for $500 billion will be offered on a weekly basis for the remainder of the monthly schedule. The Desk will continue to offer at least $175 billion in daily overnight repo operations and at least $45 billion in two-week term repo operations twice per week over this period.
Again to the rescue was the FED, cash for trash..No QUESTIONS ASKED.
https://www.bloomberg.com/news/articles/2020-03-19/before-fed-acted-leverage-burned-hedge-funds-in-treasury-trade
Lots of BS in here. You can see why conspiracy theories start.
Here is a good read of what has and is going on behind the doors of Robinhood.
https://twitter.com/KralcTrebor/status/1354952689478754309
Short answer it is not Joe and Janet with the Thumbscrews, it is they have to cover the risk with their own funds.
Juice,
That repo spike is clear on this chart.
https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
My vote for post of the day.
“People in this country thought they had rights
Free and fair election = Lie
Free Speech = Lie
Privacy = Lie
Free Markets = Lie
They created an entire class of people with nothing to lose but their $600 Stimmy checks. 1984 was wrong. They don’t just lie down and comply.
I hear they’re building permanent perimeter fencing around the Capitol building now….”
Think about it…. what risk? All they should be in theory is a conduit. Every risk open on one end is laid off on the other end. Something else is afoot. We may never know, and ultimately it shouldn’t matter since they are not publicly traded, and really the SEC and FINRA should be going at them.
I’m going to guess it is counterparty risk where Robinhood again is stealing from the cookie jar at their customer’s expense. Maybe they must post collateral at their clearinghouse against counterparty’s potential to blow up. Sounds like some real AIG shit here…… scumbags…..
What is suggests is that a commission free more established player is a better place to conduct business.
As always, in this environment, risk is being egregiously underpriced. The unforeseen risk here is execution risk, as customers of Robinhood don’t realize that they platform is far less stable than they thought. The penalty is not large….. frozen assets for a period of time. At the end of the day well will all pay as taxpayers through SIPC.
Fabius Maximus says:
January 29, 2021 at 1:12 pm
Short answer it is not Joe and Janet with the Thumbscrews, it is they have to cover the risk with their own funds.
Hypothecation is a yes and a no. Its big relevance here will be who will get the payout from the notes and warrants as they go through the wind-up.
At some point we will get the Kimono lifted on a lot of this. There was a lot of institutional holdings at the start of this. I suspect they have been quietly bleeding off positions into this retail frenzy. So the 70% institutional holding will have morphed over to the kiddies. So the stock will go from Dimon to Diamond Hands. The kiddies will be left holding their burnt tendies.
There is always more to the story. Robinhood is only one broker here, sure they had a cash crunch they weren’t prepared for, there is no doubt anymore. Blame regs or whomever.
However. I watched the interview of Peterffy from Interactive brokers, he said the regulators and brokers agreed that restrictions on trading because they believed the short squeeze would keep “going and going.”
He said they had to “stop the losses.” and restrict trades in those stocks. It’s all there in his interview.
“The kiddies will be left holding their burnt tendies.”
Read several report on reddit and other adjacent forums that irresponsible parents are so “proud” of their kid’s “winnings” and borrowing against their 401ks to fund the orgy. Several people not paying rent to fund their RH accounts.
It will definitely end well for everyone involved. To the moon indeed.
By the way, this has gone global. Copycat pump and dump on several countries as we speak.
Fab, they got nothing to lose. 5 shares? lol….The kiddies will be left holding their burnt tendies and five shares they bought with stimulus money.
It’s the Pro’s that have the most to lose here, you think kids are buying and selling 10,000 share lots?
LTCM, Lehman Brothers, James Cordier, Melvin and other all the same story.
They get greedy, they refuse to get out, they get rekt, the shorts are still there right now as we speak, and they are paying a huge vig to keep those shorts open.
And they get an unfair FED bailout….Where is Warren on that one?
RHs biggest problem is diversity. They are small so they wont have the depth and breath of holdings to spread the capital risk. So you have a large chunk of their client base dragging their book into GME and these other 4 plays its going to hurt.
Selling the Margin Calls and limiting more take-on, while bad for their brand is necessary for their survival.
Perhaps we should stop sending out free money and simultaneously letting people get off on paying their rent they signed on to pay for. This bidding up of assets isn’t new. Too many stocks have gone to the moon. Moreover, when this started, my friend in the collectable market has been flabbergasted how much people bid things up in April/May, when we thought the economy would implode. The garbage he sells, old toys, used video games, they wall went to the moon as well. Why is this happening?
BRT, I buy vintage audio production gear, mainly old Roland stuff, as a hobby. Prices have definitely shot up during Covid. I attributed it to old geezers like myself being trapped at home and buying toys for entertainment.
“Why is this happening?”
My take: Anger, frustration, greed, nihilism. Dangerous combination.
All the normal things that happen before a bubble bursts. No?
What’s the DTCC and How Did It Stop GameStop Mania?
https://www.bloomberg.com/news/articles/2021-01-29/what-s-the-dtcc-and-how-did-it-stop-gamestop-mania-quicktake?srnd=premium
Interesting explanation. Not technical enough in this field to comment further. Used to have DTCC as a customer. Waking up at 4:30 in the morning to hit the Hoboken train station at 6 to be the first person in the office.
AP, all that vintage stuff is so great. I have a Univox Guitar Tube amp from 67, still has the original tubes and still a tank. Amazing sound. Same thing with all those effects pedals from the 70s.
Lib, yes except I don’t remember the same level of anger. And the bipartisan, populist cheerleading. Wowza.
BRT, nothing digital can touch that sound imho. Good on you, man.
Fab: Lots of BS says you, but the reason there are so many conspiracy theories out there today, is that no one trusts that the main stream media is telling the truth. And they are not.
This!!
This eviction law nonsense is grounded in admirable intentions, just like social!sm, but unfortunately, human nature is a bi/tch.
How many piece of sh!ts are not paying their rent and gambling with it? How many are blowing their rent on alcohol or drugs? How many are gambling on crypto? How many are gambling on gamestop? Just makes me sick.
Yet, the good “social!sts” point out that we are too old and simply don’t get it. Too out of touch. Yea, we don’t get it…tell me how it works out because we already know. Just like this eviction law is working out so well…
BRT says:
January 29, 2021 at 2:04 pm
Perhaps we should stop sending out free money and simultaneously letting people get off on paying their rent they signed on to pay for
Gotta love this guy, he is tweeting out the short interest data every couple of minutes for free.
https://twitter.com/ihors3
I am right now LOL!
Robinhood just announced it’s now limiting people to 1 stock on GME, AMC & other heavily shorted stocks.
2:56 This sounds a bit like “Pumpkin Shrugged”. Nothing like deadbeat tennants to remind him of the importance of property rights. But I do sympathize with you on that. I just wish you saw the importance of this for non-landlord businesses as well
Juice,
That sounds like a free market./s
Bang Zoom to the Moon Alice!
323.26 +129.66 (+66.97%) 15:14 ET [NYSE]
I’m learning and I’m learning… it just takes some time. The more time that passes, the more I realize how right you always were.
That’s the problem. That’s why social!sm always makes a comeback. Always another generation of youth rooted in good intentions to take on the social!st flag…they simply can only see the good. They need experience to shine the light on the darkness they can’t see.
No One says:
January 29, 2021 at 3:08 pm
2:56 This sounds a bit like “Pumpkin Shrugged”. Nothing like deadbeat tennants to remind him of the importance of property rights. But I do sympathize with you on that. I just wish you saw the importance of this for non-landlord businesses as well
Those kids are too funny. They figured out how to bypass the stock buying limits on Robinhood by buying cheap call options and exercising them immediately.
lol, that’s hilarious. What’s the next course of action, you can’t exercise your options?
I am right now LOL!
Robinhood just announced it’s now limiting people to 1 stock on GME, AMC & other heavily shorted stocks.
It’s the bread line for stocks!
Imagine if, at the end of Trading Places, they froze trading to let Randolph and Mortimer exit their position?
“How many piece of sh!ts are not paying their rent and gambling with it? How many are blowing their rent on alcohol or drugs? How many are gambling on crypto? How many are gambling on gamestop? Just makes me sick.”
Go to your courthouse, your police, your judges and your lawyers to get your justice. Maybe you will have better luck than I did.
Or maybe you should seek some other form of justice at some point.
Robinhood now limiting orders on 50 stocks.
“Imagine if, at the end of Trading Places, they froze trading to let Randolph and Mortimer exit their position?”
Looking good, Billy Ray. Feeling good, Louis.
Great movie. But you are right. Every day no matter where you are in America now you are feeling like the game is rigged. Divorce court, owning a rental, cancelled out at work cause a woman wants you job, robbed by Robin Hood, your car dealer, your realtor, just about anyone.
These untouchable people you pay large sums of money to were unable to defend the WTC, can’t get a vaccine in your arm, can’t control a corporation, want to sit on the couch instead of teaching your children, want to shoot you over an ounce of pot, and want to listen in to every phone call and track every move you make, plus not show up when you need help, but take away your own ability to defend yourself.
How far we have fallen.
DFV – Diamond Hands again today even with all the press
https://www.reddit.com/r/wallstreetbets/comments/l846a1/gme_yolo_monthend_update_jan_2021/
Kitty that’s a different movie, not Trading Places:
https://en.wikipedia.org/wiki/Falling_Down
“Imagine if, at the end of Trading Places, they froze trading to let Randolph and Mortimer exit their position?”
“Looking good, Billy Ray. Feeling good, Louis.”
This part is Trading Places.
The rest is more like Falling Down. Which by the way, could have used a much better ending.
Juice,
The comments there are funny. But under that is seething anger for a system they feel works against them.
The youth of today are after a pound of flesh.
Haha. Karen is off her meds.
‘I do not believe that was Ruth’: QAnon Rep. Marjorie Taylor Greene claimed RBG was replaced by a BODY DOUBLE, argued with Democratic rep Cori Bush about wearing a mask and said journalists should get the ‘electric chair’
Rumor has it the guy never got a single word in.
White House press briefing is dominated by women on Thursday with just one lone man joining 12 ladies – after four major networks named new female WH correspondents.
Who were the journalists in Thursday’s briefing?
FEMALE REPORTERS
Kaitlan Collins, CNN
Anita Kumar, Politico
Patsy Widakuswara, The Voice of America
Mary Bruce, ABC News
Sabrina Siddiqui, Washington Post
Nancy Cook, Bloomberg News
Annie Linskey, Washington Post
Janet Rodriguez, Univision
Cecilia Vega, ABC
Nandita Bose, Reuters
Raquel Krahenbuhl, Globo News TV
Associated Press
MALE REPORTER
Rob Crilly, Washington Examiner
“He [Peterffy] said they had to “stop the losses.” and restrict trades in those stocks. ”
My guess he didn’t want the exodus of internet single share rabble coming over his way. IAB is for professional level traders…not worth the headache (or tail risk) a bunch of kids with $5k each on average would bring. Easier to say you’re not allowing new positions.
Others, like weBull, probably had the same thin capital as RH.
Turns out RH was doing their own clearing. Something else is happening here.
“In 2018, we launched Clearing by Robinhood, our in-house clearing platform. Before this conversion, customers’ trades were cleared by Apex Clearing. Since the conversion, customers’ trades have been cleared by Robinhood Securities”
WeBull CEO came out and said their clearing firm Apex told them no new orders for GME etc.
https://www.youtube.com/watch?v=lJ8AfbjW_A8
https://www.youtube.com/watch?v=lJ8AfbjW_A8
“Those kids are too funny. They figured out how to bypass the stock buying limits on Robinhood by buying cheap call options and exercising them immediately.”
Too funny. Too bad it really doesn’t work for most of them for GME….
Doubled down on my GME option short. It’s now the largest single position in my trading portfolio…cost me 4.00 per share…net positive theta to the tune of 0.25 a day, delta flattish. Max loss is the cost of 4.00, max profit undefined as there are different expiries…Feeling good about it, my risk areas are in the tails, obviously a three month runup from here or less intuitively if she runs down hard to $30 overnight….we’ll see….these types of situations are tough for me since I have zero patience, and the ability to just sit and let the trade play out is paramount…Got a little fcuked just shy of a buck as I wasn’t allowed to write put legs uncovered on GME, even though they’d be cash secured, so had to buy BS super deep OTM puts to cover. Whatever. Show me sub-100 sometime during the next three months baby…
Sounds like we have a few gearheads here. I took my Matchless in to the LA factory right before lockdown for a tube refresh. It’s a 35w “Independance” model that lights up red, white, and blue when it is on. Running that through either a set of pre-Rola Greenbacks or a couple of recent “Scumbacks”. It will absolutely scream like a Plexi or chime like a Vox. Love that Amp.
Who would have thought robinhood would break!? Cnbc just reported they are restricting many more stock trades. Wonder if they are in danger of going under. Sounds like they are financially strapped.
CW dropped her trades for today. More added to new BEAM position….
ExEssex, looks and I’m sure sounds sweet. Applauding you on showing it some shop love. Good musical karma and a good investment on my book.
Phoenix….FBI lawyer who intentionally alters evidence – 180 degrees – submitted to the Court for a wiretap gets…..probation.
https://www.wsj.com/articles/a-pass-for-kevin-clinesmith-11611962556
Just too fking funny. hold the line!
https://9gag.com/gag/azMVBBz
https://youtu.be/htgr3pvBr-I?t=54
What a piece of garbage
leftwing says:
January 29, 2021 at 7:09 pm
Phoenix….FBI lawyer who intentionally alters evidence – 180 degrees – submitted to the Court for a wiretap gets…..probation.
https://www.wsj.com/articles/a-pass-for-kevin-clinesmith-11611962556
6:52 Thanks! It was very cool to meet “Phil” the guy who designed and built it. I used to frequent FUCHs shop in Clifton when I was in NJ. What a master builder and great guy. He fixed a ton of gear for me. I think 30w is about right for my style at this time. I don’t need to go huge. I like the new modeling amps too. I use a little Marshall Code series that is a blast and can get all of those old metal sounds. I am at the age now that I am not really too concerned with how something sounds outside of my rec room!
Ex, pure joy, man. I got into repairing a bit, mostly synths. Incredible what you can bring back to life by replacing a few tact switches and cleaning the board with some deoxit d5.
Gotta get my soldering game into gear next. Need a decent workbench. Dining table not cutting it anymore.
Very cool! I leave it to the Pro’s out here I met Curtis Lauer who has done a little work for me. He’s the guitar tech for YES, GnR, Skynyrd, Fogerty. The man can set up an instrument like no one I have met. Amazing. Had him wire together a couple of Strats. You know pick-ups, Trem, Neck adjust. One of them ended up being a lifetime keeper. Haven’t played a better Strat. It is a monster. Music is life baby!
I don’t play guitar, but I do play keyboard and the trumpet. The amps talk had me remembering my freshman year at college. There was this one dude who had a Magnatone amp that had to have 8 12″ woofers and 4 huge cones in it. Though I never learned guitar more than single finger plucking out a melody, I asked the dude if I could try his electric guitar and plucked out one of the three melodies I had down pat. It was the Canadian National Anthem and it sounded like heavy metal mastery in front of that amp with all the mad feedback and my poor fret finding. Or maybe it was the hashish? None the less, it was one the funniest moments of my life, especially when about the twenty people who peaked their head into the room to check out what that noise was joined in unison for the Oh Canada we stand on god for thee, reprise. That dude never let me near his sh1t again after that, except once he needed someone to play the simple repetitive high riff Lou Reed’s Take a Walk on the Wild Side during another impromptu jam session. I was still pretty into the trumpet back then and convinced him to learn Saturday Boy from Billy Bragg so I could bust out some trumpet. This too was pretty magical to me, but few appreciated it as much as we did.
“Music is life baby!” Indeed and no doubt about that.
Anyone mad as h3ll at the man, and looking for a little pick me up, or at least some respite from total societal degeneration, allow me to put a nickel in the jukebox.
Tammy Wynette and The KLF.
https://youtu.be/XP5oHL3zBDg
“They’re justified, and they’re ancient
And they drive an ice cream van
They’re justified, and they’re ancient
With still no master plan”
Wow. TSLA’s under 800.
AP,
KLF’s gonna rock you!
I managed our college radio station. That band was wack. Never do I remember a band that mentioned their name so often in their songs. I always found it peculiar. Or maybe it was KMFDM? Yes. Forget it. Mixed up the two.
Lib, that’s right! MMFDM is a drug against war : )
All this talk about stonks and filthy lucre reminds me. The KLF cleaned up a ton of money with these hits, right? Then went on to fvcking burn it in one of the greatest art actions to date.
https://en.wikipedia.org/wiki/K_Foundation_Burn_a_Million_Quid
Now that’s sticking it to the man with some class. Learn this millennials.
Seems I am right as well about the Met’s curse.
Steve Cohen deleted his Twitter.
Seems maybe just a bit more than the $$$ losses this week got to him. For you see he only used Twitter to talk baseball banter with Mets Fans. He went off his own script and started talking stocks and fans turned on him, and no longer gave him adulation he was getting for buying the Mets.
Interesting technology going into a car brand owned by both the Chinese and Israel, Qoros. If you are into this stuff that cylinder head is a marvel of engineering. I would like to know if you can remove the actuators and leave the valves….
https://youtu.be/S3cFfM3r510?t=86
How fast people turn on each other…social!sm?! Lmfao
Juice Box says:
January 29, 2021 at 9:40 pm
Seems I am right as well about the Met’s curse.
Steve Cohen deleted his Twitter.
Seems maybe just a bit more than the $$$ losses this week got to him. For you see he only used Twitter to talk baseball banter with Mets Fans. He went off his own script and started talking stocks and fans turned on him, and no longer gave him adulation he was getting for buying the Mets.
Don’t know much about guitar amps, but did sell a large stash of vintage 6L6 tubes from a dusty shop that went out of business in my picker days.
Ex wife never saw that as real money. I was just a junk collector in her legume brain.
LW/Joyce.
Yeah, par for the course. The game is rigged.
Too funny. Ontario teacher’s pension fund gained 300 m on this bs.
https://youtu.be/lS3zKR3t3Qs
Pumpy,
He even mentions your pension. Sad isn’t it.
https://youtu.be/lS3zKR3t3Qs?t=242
This popped the bubble? Reddit…
All it takes is that moment where you start to question the market. That moment where you abandon the euphoria that has been all around you.
“It’s not just GameStop. Market bubble fears are rising”
https://apple.news/AdvyC8lDkStaGSsjZmu69EQ
AP,
White Room makes a strong case for my Top 20 Albums. My personal favorite. https://www.youtube.com/watch?v=HDsCeC6f0zc
I’m in the market for a DX7 for old time sake. Prices are around $500. Just searching for the right one. dont mind a battery replacement, but most are road warriors that have seen some serious abuse. Juniper and Juno prices are crazy.
Fab, White Room is top shelf, great chillout.
I’m with you on the DX7, pretty much all you need. They say Eno was the only person to ever learn how to program one : )
The DX7IID is good pick as well for the better midi support. On my wish list, if I only had more space. Right now I’m playing an overlooked gem, the Roland JV90 and love it like a pet.
Just hearing all the stories about Stevie from his family, I knew it was only a matter of time before he soured Met’s fans. Didn’t take long, did it. Guy has no sense of right/wrong and is actually socially delusional. He should stick to insider trading. That’s all he’s good at…or wait…maybe not even good at that anymore. Maybe this whole Met’s thing was a distraction to him.
Nah, Fab, I got misspoke, I meant the Chill Out album. Entire thing is genius and so listenable. Great after party or just late night music. A bottle of Suntory Bikini and a nice cigar.
https://www.youtube.com/watch?v=N3aLl9YG8V4
just wanted to share. Great chat about recent events, and the unfolding of GME/RH/Citadel relationships and a lot more.
Plain and simple. Someone orchestrated a bunch of people to buy and hold. Aka pump and dump. This was the biggest pump and dump the market has ever seen.
No townhomer nice find – Will it reopen the debate about what constitutes proprietary trading (theoretically banned) vs. what constitutes market making (still allowed)? This was all changed in Dodd Frank a decade ago.
You can bet the big boys don’t want that Pandor*a’s box opened again, however their greed is why we are here again in the first place, as the video explains the market action on GME was not kids buying a couple of shares.
Pumps – re plain and simple.
Not so fast…how is this for simple..Those kids were playing a nerf gun battle and accidentally started a conflict between opposing cartels with real firepower.
Again the kids got a taste but they did not get the tens of billions lost here so far.
Well, at least we still have a free press….oh
Roaring Kitty says:
January 29, 2021 at 1:25 pm
My vote for post of the day.
“People in this country thought they had rights
Free and fair election = Lie
Free Speech = Lie
Privacy = Lie
Free Markets = Lie
They created an entire class of people with nothing to lose but their $600 Stimmy checks. 1984 was wrong. They don’t just lie down and comply.
I hear they’re building permanent perimeter fencing around the Capitol building now….”
Juice,
For sure. You described it perfectly.
Like I have been saying for months, that video by nj Homer discusses it. This is not Buffett’s market. You can’t play the value game. The entire market is no longer based on value fundamentals. They just chase and chase momentum up or down. It’s a f’ing joke.
NJTH, nice find on that youtube video….
Here’s something that explains the clearinghouse side of RH…not eloquent, and can’t vouch for the writer’s creds, but seems to have spent enough time in the basement with financial plumbing to be able to summarize salient points….
https://threadreaderapp.com/thread/1354952686165225478.html
Left, v interesting explanation. In summary:
“Dodd-Frank requires brokers like RH to post collateral to cover their clients’ trading risk pre-settlement.”
Because…
“The policy goal here is to avoid the central plumbing entities from taking credit risk.”
Now, of course… As to be expected…
“It raises profits for entities like DTCC (which owns NSCC and is itself owned by Wall St)”
So far so “good”, but to make matters more interesting for the “insuwrecktionists”…
“DTCC may have exercised its right to add additional margin charges for a set of these stocks.”
RH was probably watching the scene unfold, cr@pping its pants. Trapped between the hungry masses and a very hard place.
Possible future: the establishment refactors the regulations to tap into the newly developed appetites of the masses, allowing more credit risk in the system but at the same time insulating itself, and making a tidy profit, from the eventual fallout.
The “left”approves the new legislation under the guise of democratizing access to markets, and the “right” rubber stamps it under the guise of super-charging a society of ownership. Remove the brakes. YOLO. Bi-partisanship at its best.
“This was the biggest pump and dump the market has ever seen.”
No, the most transparent, you dolt. Talking about social*sm when the most purely capitalistic event happened. Rules were established, the greedy hedgies took enormous risk thinking they were untouchable. They got roasted by legitimate play. Bring it all down. True transparency, true discovery. Of course it won’t happen.
Bystander,
This started off as a massive pump and dump by retail. The momentum attracted the sharks and it turned into a massive feeding by the sharks.
Like juice pointed out, retail started a battle between the cartels.
That’s all this market craves at the moment….volatility. Day traders wet dream.
We have to be close to a bubble popping when everyone is chasing momentum as opposed to fundamental value.
But again, what do I know. These are uncharted waters. Esp with how much of a role algorithms play in the stock market now. Trades never moved this fast.
If you know anyone who hasn’t been able to register for the vaccine yet
https://www.rwjbh.org/patients-visitors/what-you-need-to-know-about-covid-19/schedule-a-vaccine/covid-19-vaccine-appointment-request-form/
Another example of how far we have strayed from Adam Smith’s invisible hand.
People are compla*ining about RH selling stocks on them without permission at the lowest price of that trading day. RH deny’s it, but there is some proof and it’s not all margin calls.
However they are not the only broker*age in town. This guy Peterffy is a real gem, several interviews this week from his mansion in Greenwich, an older and bolder a man tells you like it is and does not need to dance for and IPO like Vlad Tenev.
Interactive Brokers “Peterffy, 76, said his firm took the actions on its own, even though it had heard from the Financial Industry Regulatory Authority. Interactive Brokers closed thousands of positions and had about 27,000 customers with GameStop holdings as of Wednesday, he said in a subsequent interview with Bloomberg Radio.
Did you hear that folks, loud and clear to me, he sold the stock of his customers without perm*ission. Sure legal “read the fine print” but really bad for business, but who cares he is worried about integrity of the markets after all.
BTW he is sticking to his integrity story, says never had issues with margin.
https://www.bloomberg.com/news/articles/2021-01-28/peterffy-says-firm-imposed-curbs-to-protect-market-integrity
Leftwing at 6:34 . . .
What is your bear thesis on GME?
Obviously, the bear case is mostly self-explanatory. However, I was wondering if you think it’s less demand (the Reddit mob and other bulls just cash out) or do you think that it’s more supply (someone intervenes and makes GME issue more shares/gets Ishares to sell/a big trading halt)? Just asking Bc it’s your biggest single position.
Take Lib’s investment group and open it up to millions on reddit. The only issue here is that WS relies that they will be able to manipulate the masses. A banding together kills the easy money and re-introduces the risk that Fed tried for a dozen years to ensure never comes back. We are now at moment of Patriot Act, the sequel. The Rs cheered it on 20 years ago to keep us “safe” and it was the worst, most freedom reducing event in our lifetime. You are on wrong side dufus.
Thanks Hold, got my sister in law in.
This should be written into a future episode of Billions. Does Bobby Axelrod get it right?
No worries Blumpy, there is another place to invest all the extra trillions that Fed has printed..their workers (other than traders). *Snicker*
I find out on Tues if third year with no raise.
Bystander – The data from social media is all ready packaged and sold to anyone that wants to pay for it. You think some kids are going to be able to outfox the quants and algos and AI on a public forum? The algos were trading all of those stocks in tandem the moment this stuff was posted anywhere.
The whole thing is run on the theory of the greater fool and bailouts. Case in point 2008 collapse, when “qualified” investors purchased trillions in mortgage-backed securities, boy was it certainly impossibly to find buyers when the market collapsed, so in stepped uncle Fed and you were taking the bailout whether you liked it or not.
Same thing happened last year with Repo market, except it barely went noticed, as the Fed has learned from 2008 and were able to ramp up their interventions quickly without any politics or debate in public. Bernake, Geithner, Paulson, Kashkari talked about those challenges of waiting and debating that exacerbated the collapse. There is no debate anymore. Black swan? If there is any hint we go all in, and we don’t use language like it’s “contained”….we cannot allow any “uncertainty”.
Crushednjmillenial says:
January 30, 2021 at 10:38 am
Leftwing at 6:34 . . .
What is your bear thesis on GME?
Obviously, the bear case is mostly self-explanatory. However, I was wondering if you think it’s less demand (the Reddit mob and other bulls just cash out) or do you think that it’s more supply (someone intervenes and makes GME issue more shares/gets Ishares to sell/a big trading halt)? Just asking Bc it’s your biggest single position.
Did you watch the first 15 minutes of this video? Outstanding.
Here are two definitions to get straight in your head so you don’t get stuck on gibberish.
https://en.wikipedia.org/wiki/Delta_one
https://en.wikipedia.org/wiki/Greeks_(finance)#Gamma
njtownhomer says:
January 30, 2021 at 1:12 am
https://www.youtube.com/watch?v=N3aLl9YG8V4
just wanted to share. Great chat about recent events, and the unfolding of GME/RH/Citadel relationships and a lot more.
Crushednjmillenial says:
January 30, 2021 at 10:38 am
Leftwing at 6:34 . . .
What is your bear thesis on GME?
Obviously, the bear case is mostly self-explanatory. However, I was wondering if you think it’s less demand (the Reddit mob and other bulls just cash out) or do you think that it’s more supply (someone intervenes and makes GME issue more shares/gets Ishares to sell/a big trading halt)? Just asking Bc it’s your biggest single position.
Did you watch the first 15 minutes of this video? Outstanding.
njtownhomer says:
January 30, 2021 at 1:12 am
https://www.youtube.com/watch?v=N3aLl9YG8V4
Here are two definitions to get straight in your head so you don’t get stuck on gibberish.
https://en.wikipedia.org/wiki/Delta_one
https://en.wikipedia.org/wiki/Greeks_(finance)#Gamma
I think the main 20,000 foot view to consider is that GME is just the equivalent of Bitcoin at this point. It has nothing to do with a retailer.
It probably helps to think in this way so all moral arguments get cast aside. This is pure risk management. The essentially plumbing of markets is being stressed, and people who don’t understand are making up myths. How would you react to a solar eclipse if you didn’t understand astronomy? Restated….. how would Kyrie Irving explain a solar eclipse?
essential plumbing
JB,
While I agree, reality is that cat is out of bag. Sure the Google’s, FBs, Reddits, RH sell your data but billionaires like Chamath could back forum model that does not sell info. There is big money on contra side too. Perhaps I am oversimplifying it but this could be a movement and now millions around world saw that little guy can profit by consolidation.
BTW – you see that people are pointing at Dodd-Frank….. the gift that keeps on giving….
I know regulation is needed, but you can see YET ANOTHER example regulatory overreach causing unintended consequences.
Shorts are going to become more adept at covering their tracks (pun intended).
Bystander says:
January 30, 2021 at 11:27 am
JB,
While I agree, reality is that cat is out of bag. Sure the Google’s, FBs, Reddits, RH sell your data but billionaires like Chamath could back forum model that does not sell info. There is big money on contra side too. Perhaps I am oversimplifying it but this could be a movement and now millions around world saw that little guy can profit by consolidation.
No One……where the fcuk are you? We need some CFA level discourse to keep our noses clean!
Sheet, grim missed opportunity for this board. Tell us where we shut put our 1200 stimulus please.
Chi, out of my territory but I thought key piece to short is shredding company publicly to drive price down. How will they do that without tipping hand? Shred alot of companies as fog cover?
Juice: “The whole thing is run on the theory of the greater fool and bailouts. Case in point 2008 collapse, when “qualified” investors purchased trillions in mortgage-backed securities, boy was it certainly impossibly to find buyers when the market collapsed, so in stepped uncle Fed and you were taking the bailout whether you liked it or not.”
Chi got me digging down a rabbit hole learning about “put call parity”, Delta 1 trading desks, and the lot with his post at 11:17 am.
Led me to this long blog post which I found v interesting. Very information (and opinion) dense, and worth the price of admission just for a delightful “trading story” about some Chicago pork belly locals cornering the market and the endgame of that.
https://pointsandfigures.com/2021/01/27/the-gamestop-gme-saga/
Less government intervention is always better.
The public discourse is an attempt to accelerate the success of the short.
If the underlying thesis is correct, the stock should degrade on its own through the passage of time. Since every short has a cost-of-carry, the shorter wants to complete the process as fast as possible.
That said, if you want to view Andrew Left and Cintron relative to the GME story. That is a valuation call. Then the short interest published in the net float of the stock is out there. Once GME becomes a pure trading vehicle that is disconnected from the value of Gamestop as a company, the short thesis is eliminated. Then it just becomes a game of who blinks first and market forces.
If you followed my ranting yesterday, I was pointing out to Stu that you can’t short a company into bankruptcy. The companies operations will do that just fine.
To be clear, Tesla and Gamestop were at similar points, but Musk always came to market for more money because TSLA (the stock) allowed him.
Left, Juice, NJ Town probably know more than me about this topic, but I would assume going forward we have new rules of engagement. Find synthetic ways to replicate your short thesis that conceal your position as a way to protect yourself from the angry mob.
Remember, this situation is due to the fire hose of money being sprayed by the government. We are in an unusual situation. It might not be a permanent change. But everyone has a gun right now and ammo is being handed out for free. Everyone is shooting. When you start charging $1 per bullet, the behavior will change.
No. Watch that video. Don’t be Kyrie Irving.
The Great Pumpkin says:
January 30, 2021 at 10:10 am
Bystander,
This started off as a massive pump and dump by retail. The momentum attracted the sharks and it turned into a massive feeding by the sharks.
Like juice pointed out, retail started a battle between the cartels.
Chi, learning a lot over the past couple of days. Hat tip to the Capital Gang here.
“The public discourse is an attempt to accelerate the success of the short.”
Not all public discourse though. What about the cheerleading on fvcking Access Hollywood last night, featuring a 10 year old “success story”? John Stewart and the “liberal left” talking the masses to HODL?
Not clear that less regulation is the answer here. In fact, if it wasn’t for the regulations and the “fascism” of the Greenwich, CT set would this thing not explode even sooner and more painfully? Clearly all actors are taking on more risk than is ..sane.
Stevie does not say his feeling were hurt…. I bet they were..
“Steve Cohen said that “personal threats” his family received over the GameStop saga forced him to flee Twitter for now.
The new Mets owner in a statement Saturday explained why his Twitter account, which had showcased a little-known playful side of the hedge-fund magnate as he engaged with fans, was deactivated Friday night.
“I’ve really enjoyed the back and forth with Mets fans on Twitter which was unfortunately overtaken this week by misinformation unrelated to the Mets that led to our family getting personal threats,” the statement read. “So I’m going to take a break for now. We have other ways to listen to your suggestions and remain committed to doing that. ”
https://nypost.com/2021/01/30/mets-steve-cohen-explains-twitter-exit-amid-gamestop-saga/
AP “re: Clearly all actors are taking on more risk than is ..sane.”
Agree, but sanity is not up for debate.
However this is something that needs to happen from time to time, it’s raises awareness and is educational. The plebs don’t know and won’t know what’s going on with their money and I am not talking about investing. I am talking about what the government and the Fed is doing. It’s way way more important that a couple of stocks.
I mentioned the countdown to a currency crisis previously, it’s something that is being tossed out as unimportant, head in the sand. Our new administration and Wall St all now agree we are going to print our way out of this again.
What happened this week it’s merely a flesh wound compared to the run up the FED money printing has generated since March 12th 2020.
Heads I win, tails you lose folks.
https://www.google.com/finance/quote/GVIP:NYSEARCA
Spiffy Biden. What a dog…
https://www.bbc.com/news/10586484
Juice,
Educational for sure. Just not sure the right lessons are being learned. But then again it’s probably not even half-time yet.
Gorgeous Saturday in NJ today.
Took a nice break from reality, playing Minecraft with kiddo. Fun, except for the zombies trying to eat my face and the creepers trying to blow up my base. Actually not that different from reality I guess.
Been there, done that, got the t-shirt?
https://merch.digg.com/collections/frontpage/products/digg-gamestonk-t-shirt
: )
“We are now looking at cutting all @GM subsidies,” he wrote on Twitter.
The president did not follow up on the threat”
Smooth move, Ex Lax.
“What happened this week it’s merely a flesh wound compared to the run up the FED money printing has generated since March 12th 2020.”
So Juice, what is going to happen in your opinion?
“Julie Jenkins Fancelli, heiress to the Publix Super Markets Inc. chain, has been revealed as the top donor to the January 6 MAGA rally in D.C.
She gave $300,000 in a deal orchestrated by Alex Jones
The money was donated through Trump fundraising official Caroline Wren”
The future is female.
RobinHood is limiting shares on Moderna but not Pfizer…
Glad you guys enjoyed the video. The guests are my favorite follows on twitter. I recall at one point he wrote “The stock market is a derivative of the options market” something I heard from Chris Cole, another vol guy. Hence validates Pump’s thesis, and my re-pivot to drop most of my value plays in my portfolio.
This week the plumbing is exposed in the zoo and went under stress animals going berserk. With the build-up anger, this will be quite disruptive to the general system. We should be a bit ready for some pullback. A coordinated stimulus guarantee may hold the markets up stronger a bit longer
Phoenix – re: “So Juice, what is going to happen in your opinion?”
Honestly nobody has any idea. I cannot find one explanation of the end game here from the best and the brightest in the world. I was hoping we might all be dead of old age before we find out.
I now believe that best case “us all being dead” has a zero chance of happening. No plan to wind any of this down and it’s been going on for a long long time now folks.
Too long? Apparently not…
https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
Friend sent me this. Heck of a view. From last night.
https://youtu.be/UpH4TuSn1U8?t=680
Juice Box,
My Magic 8 Ball tells me we can go in one of 2 ways.
The intelligent way – A massive Resolution Trust Corporation 2.0 with a sensical infrastructure and industrial policy whic includes making Facebook and alike platforms into publishers with its responsibilities, along with prosecutions of control fraud and other white collar crimes.
The it’s going to happen anyway way – A massive messy war with China which will call to question our survival unless we do the above. In this options nitwits like Fast Eddie are told to shut up and put in their dunce hats and stay in their corner as they are reminded the mess they made following a nut job like Rand
AP – Took time to ready though your link. Sure entirely plausible one of the old boys fu*ck*ed with everyone else, and I mean everyone else because the margins are up for everyone else and it has everyone else standing on their toes over one stock.
If not Mr. Met….or his crew. ..Who else knows really…it’s not transparent and will never be.
Just remember…… what just happened was never experienced in the past quite this way. The system isn’t breaking under the stress; it was stressed at its weakest point “Robinhood”. The cost of Robinhood as a going concern just went up dramatically. That business is far less valuable than it had been just a couple of weeks ago.
Remember, the flash crash was not repeated….. we might get blown up, but not in this way…… the flood of liquidity cuts both ways…. it creates rampant and uncontrolled risk taking, but it also allows those who took a full on body blow to stagger and get time to recover.
The old Buffett-ism, when the tide goes out you get to see who is naked….. we have an artificial wind machine off-shore keeping the tide high in perpetuity….
njtownhomer says:
January 30, 2021 at 2:39 pm
Glad you guys enjoyed the video. The guests are my favorite follows on twitter. I recall at one point he wrote “The stock market is a derivative of the options market” something I heard from Chris Cole, another vol guy. Hence validates Pump’s thesis, and my re-pivot to drop most of my value plays in my portfolio.
This week the plumbing is exposed in the zoo and went under stress animals going berserk. With the build-up anger, this will be quite disruptive to the general system. We should be a bit ready for some pullback. A coordinated stimulus guarantee may hold the markets up stronger a bit longer
Chi – I would challenge “The system isn’t breaking under the stress”
What stress? They moved margin up a notch but barely, nothing that the banks can’t handle and make plenty of bank. It was a boring week actually until the MSM started fanning the flames of David vs Goliath.
We are talking a pittance here, Robinhood was saving the day until oh well it wasn’t. Big whoop they are still a bug..
Why the Fed still backstopping everything . Exit plan does not exist…..and nobody knows the answer…. I really don’t want to leave this mess for my kids….I mean it folks.
Example…and no offence again but why are Fannie and Freddie still sweeping profits to the Treasury ? Covid has nothing to do with this nonsense it’s all pre-Covid but continues on for a second decade now.
If we are not clearing out the dead wood there is going to be a fire we cannot control and who gets burned? You can see the hatred from the young folks today…..It should not be ignored…
Juice, yeah that’s right.
But hey, I once heard a guy say, imagine if life didn’t give us lemons? It would be f’ing miserable. I guess all we can do is to stay physically and mentally, if not financially, ready for whatever comes next.
Juice: The hatred of the young is real and understandable. I have been saying for at least a decade, one day they will come with torches and pitchforks for the old feckers!! They have destroyed this country for the future generations.
Chi, “the flood of liquidity cuts both ways…. it creates rampant and uncontrolled risk taking, but it also allows those who took a full on body blow to stagger and get time to recover.”
That sounds correct and insightful to me.
Additionally, there was an article posted earlier this week from Foreign Policy mag explaining how the dollar is still king and there’s no other game in this globe (right now). 2008 was used as a proof of that. The expectation is that dollar retains its value despite unlimited QE.
Finally, and that’s my self-assigned homework, what about hyperinflation?
This article is a bit of a master class on where we are with inflation today. It sounds like the precarization of labor (Uber-ization, “gig economy”) puts so much downward pressure on wages, that even higher health/housing/services costs are manageable into the future:
https://phenomenalworld.org/analysis/many-inflations
That’s the bull case, as best I can understand/see it today. It may well “be different” this time. At least 2 horsemen (hyperinflation, falling dollar) seem to be contained.
I have enough exposure to stocks via the 401k, invested RSUs and some IBM stock I use basically as a savings account (don’t laugh).
Having said that a pandemic of greed turbo-charged by anger and resentment still sounds likely to give rise to unexpected, new black swan events, with the Fed still working on the previous crisis. Moral hazard comes to mind.
Again, not an economist here, just an interested observer.
Phoenix, that drone footage was awesome. Better than 99% of what they have on Channel 12.
Inflation should never be defined by the CPI or its derivatives. Inflation is the increase of, to inflate, the money supply. The difficult part is defining the scope of the money supply these days. And by these days, I mean since whenever they stopped reporting M3 with the continued financialization of the economy, financial innovation/alchemy, etc. The CPI might not budge yet the stock market, housing, assets skyrocket for decades. How convenient asset prices are not factored into the CPI?
I liked that article. I think the historical recap is spot on; agree with some but not all of the recommendations. But I got the opposite impression of your comment below?
AP says:
January 30, 2021 at 7:04 pm
It sounds like the precarization of labor (Uber-ization, “gig economy”) puts so much downward pressure on wages, that even higher health/housing/services costs are manageable into the future:
https://phenomenalworld.org/analysis/many-inflations
I understand, but don’t fundamentally agree with, your opinion. I am going to commit economic theory blasphemy, but there is just huge bifurcations that are being observed. There is inflation, but there is not. I think I said something almost a year ago. At all levels, you are either building the next Death Star, or else you are simply struggling to breathe. Overall, we can all argue with our central bankers’ methods and on-its-face what is being communicated, but they are likely savvier than we want to admit, despite the obvious bureaucratic torpor.
There is a huge experiment being conducted by our government. Can we take advantage of our strategic position to finesse ourselves through a health crisis that should debilitate our economy? They may get away with it. It is unknown.
Essentially, we are in trouble as a country. Our biggest adversary, China, has Sun-Tzu’ed the sh!t out of us by intentionally weakening us with COVID, while playing all kinds of political and military games while we are distracted.
At the end of the day, if we are the reserve currency and continue to be the World’s Policeman, we are likely going to crush our opponents. Just remember. Everyone outside of the U.S. hates us and laughs at us, but it is rooted in envy more than anything else. We are very likely to persist and dominate, and don’t be pessimistic, because our society is stunningly resilient.
joyce says:
January 30, 2021 at 8:02 pm
Inflation should never be defined by the CPI or its derivatives. Inflation is the increase of, to inflate, the money supply. The difficult part is defining the scope of the money supply these days. And by these days, I mean since whenever they stopped reporting M3 with the continued financialization of the economy, financial innovation/alchemy, etc. The CPI might not budge yet the stock market, housing, assets skyrocket for decades. How convenient asset prices are not factored into the CPI?
“huge bifurcations ”
This effect is called the “K-shaped recovery”. Do not discount the impact of the deflationary spiral inherent in many of our country’s least productive citizens, their output and consumption. Just because we don’t see and feel it on the NJ RE Report (except for Bystander), doesn’t mean it doesn’t exist.
You’re welcome BRT.
January 30, 2021….. the day I morphed into Pumps on the blog.
A message to Robin Hood
https://www.reddit.com/r/worldnewsvideo/comments/l917bl/good_morning_to_everyone_except_robinhood/?utm_source=share&utm_medium=web2x&context=3
I hope cuomo and Murphy don’t find out about chinas new covid test. They might get an idea. Make sure to take a peak at the illustrated instructions
https://www.news.com.au/lifestyle/health/coronavirus-testing-china-trials-anal-swabbing-for-highrisk-cases/news-story/4b4d71274e89120a77c70e282e419704#.uzjx0
Hormel?
Libturd says:
January 29, 2021 at 12:55 pm
Of course Chi. Anyone sniffing a decent buying opportunity ahead of the coming porkulus?
I sure am glad to be part of the upper leg of that K. I wonder where my kids will end up?
Joyce, thanks for your comment.
What I was trying to articulate (poorly) was that while some “things” are showing inflationary pressure (housing/healthcare/education/logistics, there are deflationary counter-forces: wages are stagnant/suppressed (Uber-ization, precarization) and consumer goods are cheaper to produce than ever and more ubiquitous than in the past (sweatshop labor and other factors).
Perhaps excessive (Infinite! To the moon!) money supply is not enough to trigger hyperinflation if consumers either don’t have wages high enough to compete for the same goods and additionally many desirable goods are cheaper.
Chi: “Everyone outside of the U.S. hates us and laughs at us, but it is rooted in envy more than anything else”
I don’t agree with this at all. The world has always culturally loved, emulated, and admired the US. Thank Jazz music, Rock and Roll, Hollywood, etc. But since the horrific Iraq Invasion (and many further interventions and assassinations) that sentiment has turned to some degree (perhaps a large degree) because they correctly perceive US foreign policy as imperialist and dangerous.
Where the US turns, the world follows. BLM protests here? BLM protest all over the world. Me Too movement here? Me Too movement all over the world. Extreme-right populism in ascension here? The same all over the world.
Hormel is not a bad play from a value standpoint. The problem with them is that there always seems to be some kind of non-controllable food glut or shortage among their many meat products that always ruins earnings. Don’t worry. I know you are kidding.
BTW, anyone want to guess why Biden has not enacted the DPA? I’m guessing the lobbies have nothing to do with it. Right.
Knocked it out of the park. You finally see it like I see it. At the end of the day, inflation is a bitch, but deflation is hell on earth.
chicagofinance says:
January 30, 2021 at 9:22 pm
Boom!
That’s why bystander and Joyce are right, yet wrong.
K shaped recovery, or better yet, k shaped economy for a long time now. Only 6 out of 10 people own real estate and even less have a significant position in equities. Do the math. Deflation in other areas (bottom k), but inflation in other areas (top k). You can’t really call this inflation, even though the assets are inflating. At the end of the day, the market is growing and it’s going to work. Inflation in a true sense is not here or might never come as the world population peaks in the 2030’s and automation hits overdrive as a major deflationary pressure point on the market (aka why I’m dollar cost avging into all ARK FUNDS, I’m hedging on the future cost of labor vs capital). I’m betting on capital.
chicagofinance says:
January 30, 2021 at 9:40 pm
“huge bifurcations ”
Touch on this some more.
We aren’t the Roman Empire. They didn’t have this technology in their financial markets. That’s the game changer..technology. Fin tech. Like you alluded to, these people in the fed are peak intelligence on financial markets. When yelled says that financial crisis are not ever going to happen again, she is being honest and sincere. Unless the UNited states loses its position as world military power (Israel and India says we won’t), we are the dollar reserve currency for the entire world financial system. No society has ever been in this position in human history and you have tech to thank for this.
The Great Pumpkin says:
January 30, 2021 at 10:14 pm
Knocked it out of the park. You finally see it like I see it. At the end of the day, inflation is a bitch, but deflation is hell on earth.
chicagofinance says:
January 30, 2021 at 9:22 pm
Who cares about debts in an environment of deflationary pressure. That’s the difference between today and 1970.
Grim developed special place for discussion. Hats off. Some really good stuff on this blog over the years. Truly amazing calls. Some really deep discussion on multiple topics.
Besides my pancake recommendation (sorry), I don’t think there has been losing advice on stocks on this blog. Crazy. Pretty amazing.
Even my call to go all in on large cap growth stocks (faang) at 2015 ended up being a hr for 401ks or any investment strategy.
Expat (rip), was really good with his market analysis. He was pretty much right on everything he called. Nice job. Take a shot for the guy, even though he hated me. He was angry, but a good guy.
Expat was actually the least angry guy you would ever know. He just doesn’t like habitual liars.
Crushed really critical disclaimer up front, when I say the largest position in my trading account (at around 15%) it’s important to note my trading account is itself about 20% of my brokerage cash and securities so I’m really just exposed in total at 3% of my total portfolio. Unless there is a total go-to-hell scenario I have high probability of cutting losses down one half so I’m exposed in total around 1.5%…that represents real dollars, it would sting and I would prefer not to lose them, but it’s important to note it’s not a YOLO. I don’t do that, and the exposure is a prudent part of my overall portfolio.
Anyway, answering your question, there was very little to no fundamental analysis as the stock went pure price action/technical this week. I did take a quick look at the public docs…Cohen (Chewy) with three former colleagues in as Board members, company is what it is (Blockbuster for gamers) but it’s not facing an imminent financial issue, there’s a shelf registration (and prospectus) filed for some additional shares prior to this craziness…Just checking off the boxes there though.
My trade entry was entirely off the surge. Pull up a 60 minute chart of GME, compare it to a 60 minute, two month chart of KODK centered on late July. Pull up same for TLRY, September 2018. Or any other event driven parabolic stock of your choice….
Chi mentioned two option greeks, there’s another important measure, IV (implied volatility, the individual stock equivalent of what the VIX is to the SPX). Volatility and option premium (prices) are directly correlated.
Basically, these event driven dislocations fit my trading model (asymmetric defined leveraged risk) because the explosion in volatility resulting from the moves sets up a scenario where I can take a position with an outsized return with very limited relative downside and a defined max loss….in this trade let’s oversimplify and say there are four broad buckets of return….a total loss (stock stays 325-500 for three months, 5% chance), stock implodes overnight to 30 for a 50% loss at say a 5% chance, stock settles sometime in the next three months between 150 and 325 for a 100% return at say a 45% chance, or settles in the next three months between 40 and 150 for an as yet undefined but in the range of 3-5x or better return….
Pull up the GME 60 minute chart again with the other charts, draw the lines of where those stocks settled subsequent to their events, then draw the lines prospectively for GME and look where my returns land….it’s that simple for me….I’ll take a trade with those small percentage probabilities of losses against the potential returns at those levels all day long…
Importantly, this scenario is only made possible because IV is so high on some of these options, over 500 and in some cases over 600. I’ve never seen vol so high…I used a similar trade on the airlines and casinos in March 2020 (other direction, long obviously). Caught them near their lows, but was trading them at a then unheard vol of 450…..we’re 600 here…..
So, I have no way of knowing what the catalyst will be….I do know the market is screaming there will be continued large movement before settling down and I’m pretty comfortable assuming that will include down….Can Cohen insert his guys with a CHWY business model three weeks from now and they raise $800m for it overnight and the stock rip over 400? Sure. Can we sketch a different downside scenario, absolutely. Fact is, no one knows, but it’s a pure risk adjusted probability play for me after something busts the 5th SD on a three day move on a short squeeze worth only a fraction of where it’s trading.
This better work out, all the excitement made me miss my sure fire move on my criminals up in Rochester…on Wednesday they popped to the penny where I sell them (14.00) and have already backed down below ten…..Pretty pissed I missed that….
grim, typed a nice reply to crushed, says it’s in moderation. if you could release it, appreciated.
Crushed really critical disclaimer up front, when I say the largest position in my trading account (at around 15%) it’s important to note my trading account is itself about 20% of my brokerage cash and securities so I’m really just exposed in total at 3% of my total portfolio. Unless there is a total go-to-hell scenario I have high probability of cutting losses down one half so I’m exposed in total around 1.5%…that represents real dollars, it would sting and I would prefer not to lose them, but it’s important to note it’s not a YOLO. I don’t do that, and the exposure is a prudent part of my overall portfolio.
Anyway, answering your question, there was very little to no fundamental analysis as the stock went pure price action/technical this week. I did take a quick look at the public docs…Cohen (Chewy) with three former colleagues in as Board members, company is what it is (Blockbuster for gamers) but it’s not facing an imminent financial issue, there’s a shelf registration (and prospectus) filed for some additional shares prior to this craziness…Just checking off the boxes there though.
My trade entry was entirely off the surge. Pull up a 60 minute chart of GME, compare it to a 60 minute, two month chart of KODK centered on late July. Pull up same for TLRY, September 2018. Or any other event driven parabolic stock of your choice….
Chi mentioned two option greeks, there’s another important measure, IV (implied volatility, the individual stock equivalent of what the VIX is to the SPX). Volatility and option premium (prices) are directly correlated.
Basically, these event driven dislocations fit my trading model (asymmetric defined leveraged risk) because the explosion in volatility resulting from the moves sets up a scenario where I can take a position with an outsized return with very limited relative downside and a defined max loss….in this trade let’s oversimplify and say there are four broad buckets of return….a total loss (stock stays 325-500 for three months, 5% chance), stock implodes overnight to 30 for a 50% loss at say a 5% chance, stock settles sometime in the next three months between 150 and 325 for a 100% return at say a 45% chance, or settles in the next three months between 40 and 150 for an as yet undefined but in the range of 3-5x or better return….
Pull up the GME 60 minute chart again with the other charts, draw the lines of where those stocks settled subsequent to their events, then draw the lines prospectively for GME and look where my returns land….it’s that simple for me….I’ll take a trade with those small percentage probabilities of losses against the potential returns at those levels all day long…
Importantly, this scenario is only made possible because IV is so high on some of these options, over 500 and in some cases over 600. I’ve never seen vol so high…I used a similar trade on the airlines and casinos in March 2020 (other direction, long obviously). Caught them near their lows, but was trading them at a then unheard vol of 450…..we’re 600 here…..
So, I have no way of knowing what the catalyst will be….I do know the market is screaming there will be continued large movement before settling down and I’m pretty comfortable assuming that will include down….Can Cohen insert his guys with a CHWY business model three weeks from now and they raise $800m for it overnight and the stock rip over 400? Sure. Can we sketch a different downside scenario, absolutely. Fact is, no one knows, but it’s a pure risk adjusted probability play for me after something busts the 5th SD on a three day move on a short squeeze worth only a fraction of where it’s trading.
This better work out, all the excitement made me miss my sure fire move on my criminals up in Rochester…on Wednesday they popped to the penny where I sell them (14.00) and have already backed down below ten…..Pretty p1ssed I missed that….
Lib,
I made a mistake by not coming clean from the start that I was a teacher. I’m sorry. I thought it could put my career at risk. It wasn’t rooted in bad intentions. I’m a good person, I can look at myself in the mirror.
libturd says:
January 30, 2021 at 10:51 pm
Expat was actually the least angry guy you would ever know. He just doesn’t like habitual liars.
Chifi,
1) you’re explaining this stuff fine
2) so many year end client virtual meetings. Plus regular work and earnings season keep me busy.
3) I try to steer clear of any discussion of specific stocks or advice.
4) pumpkin and ARK, of course he would. That tells us something.
I don’t know if we are in the 7th, 8th, or 9th inning of this game, but there are a lot of asset classes with unusual valuation.
I’m a fundamental long term guy. Almost 20 yrs ago I ran a modest size size long-short account with the CEOs own money. Made him good money on shorts in 2001-2, but he couldn’t raise enough assets to make it a hedge fund. Shorting needs good risk management and an understanding that you can be forced to cover at the most inopportune time. Same for leveraged long investing. I prefer long only fundamental long term diversified investing.
In my early career I spent some time around retail brokers. Plenty of stories of people who made millions on puffballs, could have taken it off the table but were so drunk on their kool-ade they ultimately lost most of it.
But when they are flying high, they all think they are smarter than people who urge caution.