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Talking stocks, trading, and investing in general

Big Pun

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^TV made politics a clownshow, social media just made normal people realize it.

This whole GME thing is hilarious. Everyone pretending to love the democratization and lowering of barriers to everything and now they're getting upset that the wrong group of people are manipulating the stock market.
 

Omega Male

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Not sure r/WSB is what Marx originally had in mind as the vanguard of the proletariat?
 

HRoi

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I’m not upset about their principles or their cause or whatever, just annoyed that this is yet another volatility/unpredictability factor to contend with

also, you guys are fucking commies
 

Piobaire

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Everyone pretending to love the democratization and lowering of barriers to everything...
I've never really endorsed that, to wit, I've said here for years that flying is now like taking the bus through bad part of town.
 

Big Pun

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I guess I was more referring to all the corporations that put out cringey diversity, inclusion, equity etc. messages that mean nothing. Not SF big tymers. Also, what's flying?
 

gnatty8

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If anything is an indication we are in the midst of a bubble, it is this. It is a game of musical chairs and eventually, once the marginal investor wakes up and asks themselves what the fuck they are doing buying shares of a company like GME that cannot pay dividends and has no real growth prospects, the price will have to fall. I have no doubt those who were in early have made enormous amounts of money, but its a classic pump and dump scheme and the ones who got in last will lose their asses. One only hopes they aren't financing these purchases with debt.
 

Piobaire

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To my understanding it's a bit more than a classic pump and dump. It was targeted due to the large amount of shorts on it by two hedgies. While it was a classic pump by the WSB people it was meant to trigger buys to cover shorts. It did and this drove prices even higher. That move higher then started the bandwagon phase by true idiots, i.e. those that will really lose their shirts and are likely small time retail buyers that should not be playing like this.

In other news I just put in a limit to sell my BB at $22.50. If that hits I'll have earned...a few days of my old paycheque. :(
 

Omega Male

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So, hypothetically, if I was one of the big shorts getting squeezed, I might make a quiet call to CNBC and tell them I've given up and closed out my position. Then, when the price falls a couple of hundred bucks after everyone figures the party's over, I might actually close out my position?
 

Piobaire

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Market Watch is reporting both closed out their positions. Melvin undisclosed and Citron in the $90 range.
 

javyn

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Omega Male

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BRB, Googling "How to by stock opsions with Bitcoim?"
 

Piobaire

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1611756318896.png
 

brokencycle

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Can anyone show who is actually buying GME? I still find it hard to believe retail traders are responsible for an order of magnitude increase in volume.
 

Omega Male

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So, hypothetically, if I was one of the big shorts getting squeezed, I might make a quiet call to CNBC and tell them I've given up and closed out my position. Then, when the price falls a couple of hundred bucks after everyone figures the party's over, I might actually close out my position?
Welp, that didn't work. Opened at $352. 💀
 

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