Economy stonks v14, brokergate

[Cirris]

GME reminds me of this song from the 90s:

This sounds like more like the reddit kids are really.

 

[The Big Bang]

One thing GameStopGate has done is for my kid is gotten him interested in learning about investing.

Hopefully, schools will start teaching economics, financial foundations, or taxes 101. I heard they used to teach something about personal finance back in the 60s to 12th graders.

Did it also teach him that GameStop are thieves? lol

That place has been scum from the start.

 

[Cirris]

Did it also teach him that GameStop are thieves? lol

That place has been scum from the start.

I get that Gamestop would only buy games at about 10% of their worth and resell them for a large profit.

But the reality is that's how reselling has always been.

I remember back in early 90's as a kid the baseball card shop wouldn't even buy cards from us kids. They only wanted to sell them. Even then the one card shop only offered about 20% of the Becket card trader price.

One regret in my childhood is getting into card trading. It ended up being a waste. I then learned never get to caught up in collectables.

For them it's all about the overhead costs, and to clear out their stock.

 

[therealdope]

TD Ameritrade isn't short GME.
When you have shitloads of people buying out of the money options on the stock it would create an insane scenario where they'd have to buy the underlying stock too in many cases and they have the right to not do that. Just like any casino has a maximum bet on any single table game and they can change it whenever they please.

Fidelity Blackrock Vanguard are making shitloads of money selling the 30%+ of GME they own.

Were lenders who didn't participate in making shitty2008 home loans tp retards saving just themselves? No, they're protecting their customer too who would never be able to pay.

First question:

I can understand a clampdown on options and buying on margin but what is the justification of limiting buys to 1 share, without borrowing?

Do you think this is 'the reddit kids' vs a hedge fund that never saw it coming, or do you think this is Vanguard-Blackrock-Fidelity vs Melvin/72point/Citadel?

In picture form:

vs

OR

 

[therealdope]

I wonder if this is true

Unlike 2008 where the entire credit market froze and there was a real risk of trucks not being able to deliver food the next day, I don't see how government forces the people to bail out 72Point/Citadel/Melvin capital. How what that go over.

FWIW - IMHO I think this is the biggest story since the Berlin Wall coming down.

 

[BIKES!]

First question:

I can understand a clampdown on options and buying on margin but what is the justification of limiting buys to 1 share, without borrowing?

Do you think this is 'the reddit kids' vs a hedge fund that never saw it coming, or do you think this is Vanguard-Blackrock-Fidelity vs Melvin/72point/Citadel?

In picture form:

vs

OR

One of the first movies I pulled root to. Jamie Lee Curtis was in it too

 

[brackis1]

Yeah if I gotta pick I'm going with you two. Maybe it runs up to $1k and I'm wrong but I'll side with the ones that know this stuff inside out.

I mean, if there's funds that are long GME and they dump shares to take huge profits now, doesn't that ease the pressure on the Melvins and others that are short? How many actual shares are held by institutional investors?

Even if it goes to 1000 that doesn't mean it was a good bet risk weighted and the odds of capturing that gain are absurd.

Institutions own enormous amounts of shares. But all the "brilliant DD" ppl are praising on WSB doesn't like to mention you can look that up too.
https://fintel.io/so/us/gme

I wonder if this is true

Unlike 2008 where the entire credit market froze and there was a real risk of trucks not being able to deliver food the next day, I don't see how government forces the people to bail out 72Point/Citadel/Melvin capital. How what that go over.

FWIW - IMHO I think this is the biggest story since the Berlin Wall coming down.

You wonder if it's true that super rich guys involved in Finance like Dan Pipitone and Chamath are racing to sell financial-services to random noobie idiots under a banner of fake revolution?
It is!

 

[HeLLMuTT]

As a 100% crypto holder sitting back with popcorn it's fun to watch. That cute little dude that cashed out like a 5000% profit on gamestop made my week.

Web 3.0 is the new internet with DeFi and synthetic assets; wallstreet is doing EVERYTHING it can to slow down the exoduses of it's monies from it's grasp before they can get it's wealth converted to a digital format first.

The memes are nuclear and so is crypto.

 

[funcrusher2007]

@brackis1 @rob mafia
You two obviously have more experience the everyone in here so my question, what are you guys doing in reference to gme?
I got in With around 2000$ and bought 38 shares at 52.20 when I saw what was happening on Reddit (Jan 19th). I have obviously made A great return on this so far...I was thinking about putting in a limit buy at 165 for 10 shares right now and Capitalizing on the dip tomorrow at opening or lunch then holding on everything till 700 (I know ,I’m a pussy).

be brutally honest,what do you think about this.

 

[brackis1]

@brackis1 @rob mafia
You two obviously have more experience the everyone in here so my question, what are you guys doing in reference to gme?
I got in With around 2000$ and bought 38 shares at 52.20 when I saw what was happening on Reddit (Jan 19th). I have obviously made A great return on this so far...I was thinking about putting in a limit buy at 165 for 10 shares right now and Capitalizing on the dip tomorrow at opening or lunch then holding on everything till 700 (I know ,I’m a pussy).

be brutally honest,what do you think about this.

Nothing.
It's retarded and the risk weighting is completely outside the realm of what I would to to sensibly accrue more wealth over time and I find no pleasure sending people with less experience and more of their "rent money" on the line than me to get fucked over whenever it stops.

 

[brackis1]

As a 100% crypto holder sitting back with popcorn it's fun to watch. That cute little dude that cashed out like a 5000% profit on gamestop made my week.

Web 3.0 is the new internet with DeFi and synthetic assets; wallstreet is doing EVERYTHING it can to slow down the exoduses of it's monies from it's grasp before they can get it's wealth converted to a digital format first.

The memes are nuclear and so is crypto.

Translation: I'm here to shill for my pumpcoins in bold orange text.

 

[HeLLMuTT]

Translation: I'm here to shill for my pumpcoins in bold orange text.

What coins have I shilled now dub boy?

 

[brackis1]

What coins have I shilled now dub boy?

All of them.

 

[brackis1]

One thing GameStopGate has done is for my kid is gotten him interested in learning about investing.

Hopefully, schools will start teaching economics, financial foundations, or taxes 101. I heard they used to teach something about personal finance back in the 60s to 12th graders.

So you mean learn about the concepts everyone hyping GME doesn't understand and are ignoring?

 

[HeLLMuTT]

All of them.

Are you stupid or a disingenuous punk?


Which ones?

 

[brackis1]

Are you stupid or a disingenuous punk?


Which ones?

Go away.

 

[HeLLMuTT]

Go away.

From you? My pleasure you poor dishonest bitch.

You only vomit hate to this forum. All that time you waste doing it too... lmao.

 

[funcrusher2007]

Nothing.
It's retarded and the risk weighting is completely outside the realm of what I would to to sensibly accrue more wealth over time and I find no pleasure sending people with less experience and more of their "rent money" on the line than me to get fucked over whenever it stops.

I get yah, this is really expendable money (I was gonna use this for a Vegas trip that got canceled) so I’m not depending on by any means just curious on what you thought of it.

thanks though

 

[G-19]

dunno. this is kind of unprecedented, so perhaps a while longer. as long as they can...



profit for themselves and the most insane loss porn ever posted. ie: $ and entertainment.




wsb hates investing/investors. 'gtfo back to r/investing' is something we've said a gazillion times.

wsb was basically a mix of experienced traders and retards. honestly, it's kind of just in the name... wall street BETS. it's about options trades, and generally risky as hell ones. ie: bets. otherwise, they're just... basic trades.

but it was basically all fun&games. sometimes we'd just do something stupid (risky bet) to break up the monotony. sometimes, the people were actually just stupid. sometimes, we just found exploits (typically in rh) and exploited them for absolutely retarded amounts of leverage.

phrases like "personal risk tolerance" (pure risk), "literally can't go tits up," "FDs" (i can't even state what this means on here), etc made up the foundation of wsb culture/lexicon.

(this was repeated a few times until rh [and some other brokers] disabled box spreads)

https://www.marketwatch.com/story/t...sk-then-promptly-loses-almost-2000-2019-01-22



(jamie [casually explained] is/was one of us)

(this was real, btw)

I finally had some time to sit down and pick apart your response. Thanks for putting all that together and holy shit those videos are quality entertainment. You’re absolutely right about the current times being unprecedented. I was always told to check out Reddit for all kinds of shit that I’m into but always shied away. I make some crazy risk filled options plays here and there but it’s usually based off of real fundamental analysis and if I miss I’ll just exercise and hold long term. Definitely thinking I should look more into the “Jaime casually explains” videos because they’re hilariously entertaining.

 

[Cuzcatlan]

dude. that's not really what happened or how it works.

brokers are being squeezed by their clearing houses/dtcc, via increased collateral required via the increased volatility.


edit: to be more clear, if a shortseller goes bust, the broker is basically on the hook for the short's losses (assuming the account goes to/below 0). but robinhood doesn't even allow shortselling. rh is the broker most affected by the increase in collateral...

I pulled what little money I had with Robinhood. I have a feeling they might not survive this.
I just got Schwab and M1 now.