The FTSE

[MillsyTheMosher]

I disagree. I think there is honour in what some of them are doing. Will they win... of course not. The system is stacked against them. Will they lose a lot of money... probably. But you can't say they don't have honour.

I am not selling out of spite. Fuck the hedgies.

 

[aguerrrroooooooooooo]

I disagree. I think there is honour in what some of them are doing. Will they win... of course not. The system is stacked against them. Will they lose a lot of money... probably. But you can't say they don't have honour.

It's down to interpretation really. A few days ago I would have agreed with you, but watching thousands of pounds go down the drain to most likely other HF's is just plain silly.

This idea of it being honourable only works under the absolute guarantee that Melvin haven't closed or covered their positions, something which I honestly find unlikely now

 

[west didsblue]

The way i see it is this ...

The reddit forum where this all started is called 'WallstreetBETS". The "BETS" bit tells you that this was never a 'safe' investment but a 'BET' that the HF's would have to buy back the stock at a huge price causing a 'short squeeze' on the basis retail traders could buy the stock in large volumes freely.

I can afford to risk 15 k, so i bought up 15 k of GME stock at 200 dollars per share on the basis that i knew it was a "BET" and if i lost it wouldn't affect me in any meaningful way. If i win, happy fucking days. I am at the point where I will either hold this stock until it hits $500 or it hits $0.

If i knew what i know now about the fact the trading apps could collude with the HF's so openly and commit market manipulation for everyone to see would i have touched GME ? Fuck no.

It's going to be interesting to see what happens. If enough people 'hold' and platforms allow people to buy freely again, this stock will be back in the $300-400 range again.

Having read a bit more about it, it would appear that the Hedge Fund collusion aspect isn't actually the case. The reasons some platforms went to sell only was because of the 2 day settlement gap and they needed to have sufficient funds to cover the possibility that the buyers wouldn't pay up, which isn't usually a problem but in this case amounted to billions that they didn't have. If it was same day settlement then this wouldn't have been a problem but it isn't and that was sufficient to take the wind out of the share price. It's not fair on the retail investor but it's the way the system works and for 99.99% of the time it's fine but this was an unprecedented event.

 

[aguerrrroooooooooooo]

Basically been in the 90s all day, think it's dead

 

[MCFCinUSA]

^^^^
*if I repeat ‘greater fool theory’ often enough, it’ll come true and fuck what actually happens in a short squeeze and historical precedent such as VW briefly becoming the highest value company in the world. I’m on this hill and I’ll die on it*

Short squeezes though similar looking on a graph do not equate to greater fool bubbles. You sound bitter because you spent last week ‘considering shorting’ rather than quadrupling some quick cash and getting out.

ehehe - your ad hominem attack reveals all

what I'm up to has absolutely nothing to do with GME, which stands alone for what it is - there could be hearings and perhaps prosecutions following this debacle; my opinion (based on what I know, and information that's coming out little by little) is clear, and it's nothing personal.

perhaps I should not have mentioned my own leaning (to be looking for shorts on GME and not longs last week) because that clearly upset you, and perhaps some others reading into things, but again, it's nothing personal... it is what it is; I was merely commenting from the perspective of what I knew, and then (maybe a mistake in hindsight) revealing how I was looking at things myself from a trading perspective.

lastly, I would hardly compare a company like VW to one like GME; they don't really belong in the same sentence, even though they might both have been subject to the 'short squeeze' phenomena to varying degrees, as have many other companies and short seller's positions in the past.. there are certainly quite a few more interesting stories of this kind if this type of thing excites you than VW.

 

[MCFCinUSA]

Having read a bit more about it, it would appear that the Hedge Fund collusion aspect isn't actually the case. The reasons some platforms went to sell only was because of the 2 day settlement gap and they needed to have sufficient funds to cover the possibility that the buyers wouldn't pay up, which isn't usually a problem but in this case amounted to billions that they didn't have. If it was same day settlement then this wouldn't have been a problem but it isn't and that was sufficient to take the wind out of the share price. It's not fair on the retail investor but it's the way the system works and for 99.99% of the time it's fine but this was an unprecedented event.

yep.

it certainly isn't a level playing field if the little guy is frozen out from transacting (or can only close positions) but any professionally credentialed trading firm can do whatever it wants - go long, short, and pile in on derivatives etc; this is one of the difficulties - or risks, in the little guy getting involved here, aside from his or her lack of information and the bullshit false narratives being peddled in the mainstream media.

 

[west didsblue]

Basically been in the 90s all day, think it's dead

$108 now.
It’ll soar and crash in the next 45 minutes during the second half so we’ll miss the chance to sell at a profit.

 

[aguerrrroooooooooooo]

$108 now.
It’ll soar and crash in the next 45 minutes during the second half so we’ll miss the chance to sell at a profit.

These are miniscule gains in comparison to last week, the volatility was insane last week to the point it was going up and down by hundreds of dollars in a matter of hours.

It's at $94 now

 

[MillsyTheMosher]

I had a change of heart and closed my position out on GME for an 8 k loss this afternoon.

It sucks as I feel cheated by the trading apps but also feel fortunate that my loss will have no meaningful impact on my wider finances like it will many thousands of others that got involved in GME on the basis of free trading which unfortunately wasn’t the case.

Sadly Robinhood etc. will likely face no consequences from the SEC etc but I am sure they will see a huge decline in users once people close out their positions.

 

[west didsblue]

I had a change of heart and closed my position out on GME for an 8 k loss this afternoon.

It sucks as I feel cheated by the trading apps but also feel fortunate that my loss will have no meaningful impact on my wider finances like it will many thousands of others that got involved in GME on the basis of free trading which unfortunately wasn’t the case.

Sadly Robinhood etc. will likely face no consequences from the SEC etc but I am sure they will see a huge decline in users once people close out their positions.

Heard on good authority that the squeeze is tomorrow ;-)