crimsonghost747
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(02-04-2021, 10:07 AM)fenders53 Wrote: Depends who's short numbers you believe. They already got killed for sure. I think further damages will be mitigated as the new money Reddit dries up. I see no major run higher. We shall see. I'll check out your link. Somebody is getting some heat behind the scenes.
Ohh yeah certain hedge funds definitely got killed during these past few weeks. Hopefully Robinhood too.
But indeed it does look like the party is over. Too bad, I certainly had ridiculous amounts of fun with this.
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(02-04-2021, 11:36 AM)crimsonghost747 Wrote: (02-04-2021, 10:07 AM)fenders53 Wrote: Depends who's short numbers you believe. They already got killed for sure. I think further damages will be mitigated as the new money Reddit dries up. I see no major run higher. We shall see. I'll check out your link. Somebody is getting some heat behind the scenes.
Ohh yeah certain hedge funds definitely got killed during these past few weeks. Hopefully Robinhood too.
But indeed it does look like the party is over. Too bad, I certainly had ridiculous amounts of fun with this.
Other than brand destruction Robinhood's loss is probably confined to margin losses fro those who walk away. Fear of that had something to do with their sudden rule changes. The sacrificed their customers to save themselves. They didn't have to capital to allow such loose margin trading. They got hit with the perfect storm. What percentage of their daily trades involved stocks almost certain to lose minimum 50% of value within days?
Don't confuse any of the above with feeling sorry for them. I do hope we get to see some of the particulars involved soon. It's likely to hurt future spec trading with tighter rules.
There’s a ton of people on Reddit that say they put their students loans, life savings, etc into the “movement.” There are going to be a lot of pissed off people when it tanks
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02-04-2021, 02:50 PM
(This post was last modified: 02-04-2021, 02:51 PM by fenders53.)
(02-04-2021, 02:21 PM)chascornell Wrote: There’s a ton of people on Reddit that say they put their students loans, life savings, etc into the “movement.” There are going to be a lot of pissed off people when it tanks
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I've only been reading Reddit for about a week. The diamond hands rant was absolutely cringeworthy. I saw the outcome coming that day. They can be as pissed as they like. If you are gullible enough to go all in on internet hype then you learn your lesson. They didn't do the DD. They jumped in 50-100X higher than the founders of "the movement". They got their face torn off just like I did in 2000. I recovered and I hope they don't make the same mistake again. They can play the victim card or they can learn how speculation works. Greed followed by fear in this case. Many warned them when GME was at 200+. They weren't hearing it.
crimsonghost747
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+55% right now
rocket, rocket, rocket, rocket, rocket, moon, moon
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(02-05-2021, 10:05 AM)crimsonghost747 Wrote: +55% right now
rocket, rocket, rocket, rocket, rocket, moon, moon
We knew the deceased feline rebound was coming lol. If my "sources" are correct the short % dropped from about 140% to 40% and now probably double that again. $400 days are probably gone but it will probably be a traders dream for a good while yet. It was down $3 like 20 minutes ago LOL.
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Bought back my 2/19/21 $20 GME Puts for $0.46/contract (received $0.79/contract when I sold them). My only remaining meme stonk is PLTR.
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I think this is short report day. That should move the stock.
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02-11-2021, 12:05 PM
(This post was last modified: 02-11-2021, 12:06 PM by fenders53.)
Still checking in on Reddit daily and it's getting painful to watch these fools show up a day late and buy the top. Add some weed bag holders and they probably jst lost the sympathy of Congress at the hearing next week. Their successful attempts at pump and dump are just as illegal as what the HF shorters are doing.
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(02-11-2021, 12:05 PM)fenders53 Wrote: Still checking in on Reddit daily and it's getting painful to watch these fools show up a day late and buy the top. Add some weed bag holders and they probably jst lost the sympathy of Congress at the hearing next week. Their successful attempts at pump and dump are just as illegal as what the HF shorters are doing.
There are over a million people subscribed to wsb. I have no doubt that pretty much every hedge fund has at least one or more employees with active accounts on wsb. All sorts of stuff getting pushed on there by anonymous sources. At this point, although it is big enough to move markets when a coordinated push happens, it is also too big and too disorganized to be efficient at it.
They may spike or tank the odd ticker or two every once in awhile, but at the end of the day, it is just another source of information to the market, like Motley Fool used to be, or Seeking Alpha.
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(02-12-2021, 10:28 AM)Otter Wrote: (02-11-2021, 12:05 PM)fenders53 Wrote: Still checking in on Reddit daily and it's getting painful to watch these fools show up a day late and buy the top. Add some weed bag holders and they probably jst lost the sympathy of Congress at the hearing next week. Their successful attempts at pump and dump are just as illegal as what the HF shorters are doing.
There are over a million people subscribed to wsb. I have no doubt that pretty much every hedge fund has at least one or more employees with active accounts on wsb. All sorts of stuff getting pushed on there by anonymous sources. At this point, although it is big enough to move markets when a coordinated push happens, it is also too big and too disorganized to be efficient at it.
They may spike or tank the odd ticker or two every once in awhile, but at the end of the day, it is just another source of information to the market, like Motley Fool used to be, or Seeking Alpha.
They apparently also "collectively thought" this trick was going to work on command every few weeks. HF seemed caught a little off guard on GME etc. It's not too hard to see it coming on day one and protect yourself for a few days before the imminent fall.
Watched a guy lose $18K of his $20K port yesterday on weed stock calls that expire today. Lost most of it in under an hour. I don't remember it quite this stupid during the tech bubble. Not quite the same as a kid spending his $1K going long on a bunch of BK bound garbage. It's entertaining but still cringeworthy.
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Sigh. Investing isn't supposed to be gambling (or, at least, no more than 5% of your portfolio). Seems like each generation has to learn this all over again.
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