Trading the stockmarket (NO Referrals)

[Trig]

I think people are trying to replicate the GME situation with these other stocks.

And that's part of what I can see as a problem, diluting the 'attack' via GME to other stocks weakens overall..

 

[Martynt74]

What's happened to all the financial data? Google Finance and Yahoo Finance - either missing or down?

Yeah, doesn't seem to be any movement on out of hours movements that i can see.

 

[Kenai]

A lot of people on reddit forum (r/wallstreetbets) are saying to hold the shares to avoid the price being pushed down by selling.

The cynic in me thinks this noise is mostly coming from the early investors, as it'll give them the opportunity to dump out for massive profits whilst all the latecomers and bandwagon jumpers are still sat shouting HOLD at each other, posting diamond hand emojis shortly before they lose all their money when it comes crashing back down to where it should be.

 

[Hades]

I'm learning about this, as this is something new to me.

My concern is that the hedge funds could play a dirty game (short ladder they call it?) and artificially bring the price down like we saw last Thursday. I'd imagine a lot of paper hands would sell seeing the price fall and the hedge funds can scoop in and buy up the shares. Couldn't they just do this several times so that the price never skyrockets, frustrating the retail investors?

That seems to be what they were doing to short up to 140% of the stock. e.g. push the value down by selling more and more.

I'd be concerned about other dirty tricks too. On Thursday one of the brokers, Robin Hood stopped taking buys on GME from retail investors. The reason given was that the deposit they had to place with DTC had risen from 2% or 3% up to 100% of the buy value. But RH allowed retail investors to sell and there were no restrictions on corporates buying or selling. If you stop people buying and only allow them to sell then the price can only go one way. They have since allowed retails to buy small amounts. It has been argued by some that this is an attempt to fix the market. There are also a lot of stories being published which place the redditors as the bad guys; but neglect to explain that the problem started with a hedge fund shorting up to 140% of the stock. Again there is a view that negative stories are a deliberate attempt to push the price down again.

There is certainly a lot stacked against the small guy.

The cynic in me thinks this noise is mostly coming from the early investors, as it'll give them the opportunity to dump out for massive profits whilst all the latecomers and bandwagon jumpers are still sat shouting HOLD at each other, posting diamond hand emojis shortly before they lose all their money when it comes crashing back down to where it should be.

Yes, the thought occurred to me too.

 

[Trusty]

it's ok for the rich to get richer, but as soon as someone on the street does the same is a disgusting attitude?

What has the wealth gap go to do with it? Wanting GME to go into the thousands, you ignorant fools don't realise that this will hurt you in the long run.

Government will take away your right to use these highly leveraged options derivatives, so legit people out there, perhaps young, who are actually interested in markets and growing wealth over a long time, because thats the only way you do, it doesn't happen overnight, will have these instruments taken away from them.

 

[Diddums]

Hahahaha

https://www.tmz.com/2021/01/31/plane-flies-over-robinhood-hq-with-suck-my-nuts-banner-san-francisco/

 

[Mesai]

What has the wealth gap go to do with it? Wanting GME to go into the thousands, you ignorant fools don't realise that this will hurt you in the long run.

Government will take away your right to use these highly leveraged options derivatives, so legit people out there, perhaps young, who are actually interested in markets and growing wealth over a long time, because thats the only way you do, it doesn't happen overnight, will have these instruments taken away from them.

Just the result of a broken and greedy system.

 

[Basher]

... because thats the only way you do, it doesn't happen overnight.

This is what it comes down to. There's a belief (which to be fair, some prove) that you can double, tripe or more - your money in the space of a week, where before it would have taken 2-5 years.

 

[Trusty]

Just the result of a broken and greedy system.

Your anger is directed at the wrong people though. Its central bank policy and its government bailouts that's the problem, look at the BLM movement in the summer, why not create a movement around the issues that are contributing to a system that favours people with capital, that favours people that can take on debt, that favours people with financial and hard assets. It favours borrowers over savers, you need to switch that around

 

[413x]

Is it technically possible for this to become the BTC/gold of the stock market?

Bitcoin leads the way for no particular reason, but it was first. It has no particular value. It isn't a company, it has no physical assets.

Is it possible for GME to become this?
In which case its value could get to 10k or it could wither and die

 

[Trusty]

i don't know, i hope not

 

[kkelly]

I still think it will come crashing down onces people start cashing out theyre massive gains.

(I hold no GME; only use funds now)

 

[Bes]

Silver is up strongly this morning - I have read its a target for the WSB crowd now.. I still have a bit of Silver ETF in an old ISA.... Will be an interesting day.

 

[mid_gen]

Is it technically possible for this to become the BTC/gold of the stock market?

Bitcoin leads the way for no particular reason, but it was first. It has no particular value. It isn't a company, it has no physical assets.

Is it possible for GME to become this?
In which case its value could get to 10k or it could wither and die

Bit early on a Monday to be hitting the crack pipe....

 

[413x]

Bit early on a Monday to be hitting the crack pipe....

But why not? I'm just wondering technically?
Everyone said bitcoin would event to nothing. Yet it sits at 25k gbp

 

[mid_gen]

The cynic in me thinks this noise is mostly coming from the early investors, as it'll give them the opportunity to dump out for massive profits whilst all the latecomers and bandwagon jumpers are still sat shouting HOLD at each other, posting diamond hand emojis shortly before they lose all their money when it comes crashing back down to where it should be.

Nothing cynical about it. WSB is not a charity, they're all out to make as much money as possible.

Someone needs to take the losses, so the early buyers are desperately pumping the stock still so they've got some mugs to sell to and liquidate their profits.

 

[Mesai]

Your anger is directed at the wrong people though. Its central bank policy and its government bailouts that's the problem, look at the BLM movement in the summer, why not create a movement around the issues that are contributing to a system that favours people with capital, that favours people that can take on debt, that favours people with financial and hard assets. It favours borrowers over savers, you need to switch that around

I'm not saying that I agree with the approach, but if you compare it to BLM, protests did very little - making companies hurt where it matters (money), is what works especially when you have nobody of significance fighting for the average person.

I don't foresee this specific instance crashing the market as it's such a small percentage of the wider market, and the simple fix is to have better controls in place to prevent the ongoing explotation.

 

[mid_gen]

But why not? I'm just wondering technically?
Everyone said bitcoin would event to nothing. Yet it sits at 25k gbp

BTC has a lot of mindshare still, and it is technically backed by the colossal amounts of energy being bought to mine it.

Gamestop will try to pivot to eCommerce, get it's ass handed to it by Amazon et al, haemorrage customers to Game Pass and the like, and go bust.

 

[Trusty]

But why not? I'm just wondering technically?
Everyone said bitcoin would event to nothing. Yet it sits at 25k gbp

I understand what you're trying to say, young people in America don't value gold, they value gaming and brick and mortar GME stores, so it could become a store of value to them. But the amount of money it would take would be insane and its just not feasible. Its a stock, not a commodity.

 

[uncle_rufus]

This is what it comes down to. There's a belief (which to be fair, some prove) that you can double, tripe or more - your money in the space of a week, where before it would have taken 2-5 years.

I don't understand why the two have to be mutually exclusive? Use 80 or 90% of your investment pot on sensible longer term investments and the other 20 or 10% on things which are far stupider/riskier but if they pay off you might strike it big...