Southside
Has No Life - Lives on TB
Giddy up!
CORP/BIZ GameStop Is Rage Against the Financial Machine
- Thread starter Plain Jane
- Start date
The Snack Artist
Membership Revoked
Oh man. The rip. That would be a great thing to happen.
The Snack Artist
Membership Revoked
Wouldn't take much. I used to work at the CME and have seen the mkt flash crash and go to infinity on the high side. One day the E-minis went parabolic to 999999. They took out a bunch of trades above a certain price. Pure manipulation. If you sold higher than the price they chose to erase all trades from and bought it back above where the market really was but still valid, you were long from that point with no sale to cover your longs. You were in essence, long. Way, way, above where we were trading. Naked.
The bs they pulled was monumental.
Brilliant idea, invest on a dare!!!
I like to trade stories and market conditions but short squeezes are not my thing. Trading takes some time and ability to keep an eye on the market and no time at the moment.
This trade is an interesting story but will play itself out.
Sid Vicious
Veteran Member
The Snack Artist
Membership Revoked
These types of plays are going to occur more and more as the mkt gets frothy and wild. I meant no offense to you by that post btw.
Hognutz
Has No Life - Lives on TB
No sometimes he calls a spade a spade...
Sid Vicious
Veteran Member
I think this is going to get FAR worse. SEC and the markets are going to play games and smart people on the other side are going to figure out ways to screw them over with the new rules. I have a little play money I might have a little fun too.
Hognutz
Has No Life - Lives on TB
Sid Vicious
Veteran Member
Wait, if I am reading this stuff correctly they shorted more stock than actually existed? Does this mean they do fractional reserve stock trading?
Up to 120 billion now.
Up to 120 billion now.
I agree that the market plays may get wild, still thinking there may be a little more play on the next liquidity injection.
Trying to gauge for the next downturn because the floor may be way below where we are now when it gets rolling.
It’s all good.
The next downturn could possibly be very destructive. It is possible TPTB have already figured out what is coming and the Great Reset is either their accepting there is nothing that can be done or their seizing the opportunity.
True this is one stock with a fascinating story but I think this seems like that funny noise your kind of hearing from the engine, you take a quick look for check engine and its not lit, yet.
batterbiscuts
Veteran Member
Look up naked short selling. If the masters want it down it goes down. It's silent when they do it to.
somdwatcher
Veteran Member
I know a few young day traders that think they figured out how to overturn the table of the establishment. And a chunk of these people voted and have learned how the system cheats not only your vote but your finances. SO this is their go at payback.
Men sacrifice themselves for society.
Women sacrifice society for themselves.
IMO - the MOST important part of all this is not all the details - the money, who is screwing who - the IMPORTANT thing is that you have millions of weaponized autist (mostly white) young MEN out there who are waking up to the idea that they have absolutely no future in this society. Women won't marry them (or anybody), most of them live with their parents because the only jobs they can get are shit mini wage that have zero chance of advancement, college is the scam of scams - etc etc etc.
Young MEN are the bedrock of society - they do all the truly shit jobs that literally keep the lights on - if a society makes life untenable enough for them, they are more than happy to BURN IT ALL TO THE GROUND and start over with something new.
All that BLM Antifa ProudBoys stuff ? That's young men choosing paths to burn this society right to the bare earth.
It is ABSOLUTELY Fourth Turning stuff - the authors called the 4T Crisis : The Ekpyrosis, the Great Burning Down of Society.
You only had a few when this all started - now you've got millions.
The thing about this particular situation is that all those Elite ****heads who think they are soooooo smart just backed themselves into a inescapable corner - if they beat the Reddit/Robinhood traders back then they will have absolutely proven that they cannot win other than by cheating their asses off and millions will choose to join those already moving to tear it all down.
And if they fail ? Then they've proven that even the lowly plebs with no future can accomplish great things AS A GROUP and millions will choose to join those already moving to tear it all down.
Remember that Fourth Turnings are fought by the young men, Millenials - just like in WW2 when it was the SAME generational cohort (the 'Greatest Generation) that fought the Nazis.
What do you think would happen if the Greatest Generation young men came back to life, as Young Men and looked around to see how America had done since they beat the Nazi's back.
Do you honestly think they wouldn't put the same energy into annihilating this present society ?
Well, now you know what all those Millenial Young Men are going to be doing for the next 5 years.
Women sacrifice society for themselves.
IMO - the MOST important part of all this is not all the details - the money, who is screwing who - the IMPORTANT thing is that you have millions of weaponized autist (mostly white) young MEN out there who are waking up to the idea that they have absolutely no future in this society. Women won't marry them (or anybody), most of them live with their parents because the only jobs they can get are shit mini wage that have zero chance of advancement, college is the scam of scams - etc etc etc.
Young MEN are the bedrock of society - they do all the truly shit jobs that literally keep the lights on - if a society makes life untenable enough for them, they are more than happy to BURN IT ALL TO THE GROUND and start over with something new.
All that BLM Antifa ProudBoys stuff ? That's young men choosing paths to burn this society right to the bare earth.
It is ABSOLUTELY Fourth Turning stuff - the authors called the 4T Crisis : The Ekpyrosis, the Great Burning Down of Society.
You only had a few when this all started - now you've got millions.
The thing about this particular situation is that all those Elite ****heads who think they are soooooo smart just backed themselves into a inescapable corner - if they beat the Reddit/Robinhood traders back then they will have absolutely proven that they cannot win other than by cheating their asses off and millions will choose to join those already moving to tear it all down.
And if they fail ? Then they've proven that even the lowly plebs with no future can accomplish great things AS A GROUP and millions will choose to join those already moving to tear it all down.
Remember that Fourth Turnings are fought by the young men, Millenials - just like in WW2 when it was the SAME generational cohort (the 'Greatest Generation) that fought the Nazis.
What do you think would happen if the Greatest Generation young men came back to life, as Young Men and looked around to see how America had done since they beat the Nazi's back.
Do you honestly think they wouldn't put the same energy into annihilating this present society ?
Well, now you know what all those Millenial Young Men are going to be doing for the next 5 years.
somdwatcher
Veteran Member
Maybe the next stock to go through this will be far more meaningful than Game.....stop
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Blacknarwhal
Let's Go Brandon!
GameStop is a DUMPSTER FIRE. These assholes were sufficiently asshole to stay open through the pandemic's early days claiming they were an "essential business" because they sold computer mice. Then, when the cops starting showing up, GameStop told its employees to tell the cops they weren't closing, and that the cops should refer to the company's legal department.
Their entire business model is a pocket catastrophe and with digital game delivery catching on, they were trying frantically to hang on until the new consoles came out. That helped, but who knows how much?
If you want to know more about this collection of scumbags, former GameStop employee and YouTube personality Camelot331 will fill you in.
Their entire business model is a pocket catastrophe and with digital game delivery catching on, they were trying frantically to hang on until the new consoles came out. That helped, but who knows how much?
If you want to know more about this collection of scumbags, former GameStop employee and YouTube personality Camelot331 will fill you in.
desert_fox
Threadkiller
Hognutz
Has No Life - Lives on TB
Thumbs Up!,
Ragnarok
On and On, South of Heaven
It has nothing to do with gaming.
It could be any company and there are many others in play, right now, like Nokia, Tootsie Roll and Blackberry.
This is all about hedge funds shorting businesses who are just trying to stay afloat during this economy of shutdowns. Billionaire hedge funds are betting that the listed companies will go under and they put out press releases telling people to sell, while investing money hoping that they will go bust.
This movement is about a group of people saying, "That's bullshit!" and thousands of people, who are not rich hedge fund managers are taking their few hundred dollars they have to invest and are, collectively, buying stocks in these companies to drive the prices up.
When the hedge funds bet the companies would go under, they have a time frame to work within or they either lose their money or have to invest more to cover their losses.
The hedge funds have until Friday and then... Time's up. That is why you see folks saying, "I won't sell before Friday!"
These Robinhooders and WallStreetBets people are trying to save these companies that are being fed to the hedge fund sharks.
I don't have a lot of money invested in the market but what I do have, I took half and put it into Nokia and AMC Theatres because, "Hell, Yeah!"
TPTB are going to pull out the stops tomorrow to crush this movement and I may lose all the money I invested but if we can hold on until Friday, screw the billion dollar hedge funds that have been manipulating the market for years at the expense of the little guy. But, when the average Joe bands together to to do the same thing to the 1%... "OH! We need to shut it down for 30 days!"
Eff 'em!
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Ragnarok
On and On, South of Heaven
That is because you don't understand what is happening.
onetimer
Veteran Member
These will be fun to watch tomorrow and Friday, the ride will be fun!
Ragnarok
On and On, South of Heaven
If you swim with sharks, you might get eaten. Lots of little sharks can eat you just as well as one big one when they work together
Ragnarok
On and On, South of Heaven
Are you invested?
I feel like I did, back in the day, before taking the court in an important game. Peering through the locker room door to assess the other team during warm-ups. Then "Jump" by Van Halen hits and we run onto the court and the game is on!!
Butterflies!
My stomach is doing flips!
Plain Jane
Just Plain Jane
GameStop rallies back as U.S. regulators eye wild trading
The U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds on Friday, warning brokerages and social-media traders it was on alert for any wrongdoing in this week's roller-coaster trade.
www.reuters.com
JANUARY 28, 20214:31 AMUPDATED 33 MINUTES AGO
GameStop slugfest spreads as calls for probe build
By Sagarika Jaisinghani, Nikhil Nainan
4 MIN READ
(Reuters) - The battle between small-time traders and hedge funds that has shaken U.S. and European stock markets moved into Asia on Thursday, with surges in several Australian companies squeezing another batch of financial institutions that have bet on the stocks falling.
In Europe, where the trend has already shown up in a jump in the value of Finnish technology company Nokia Oyj, shares in the video game chain at the centre of the U.S. action, GameStop, dipped 16%.
That move, roughly in line with an overnight fall in New York and derivatives market changes, suggested at least a pause in a dramatic rally that has seen GameStop jump as much as 1,700% in two weeks and fund investors lose billions.
Driven by an army of small, individual investors who work through online brokerage apps like Robinhood.com and discuss stocks on anonymous social media messaging boards, the stock surges drew more calls for regulatory investigation from analysts and commentators on Thursday.
“With small investors swarming over heavily shorted stocks in what looked like a coordinated move, the frenzy raises all sorts of questions with respect to possible market manipulation,” said Michael Hewson, chief market analyst at retail broker CMC Markets UK.
“It is already illegal for institutions to coordinate in the manner currently being seen in moving prices on these stocks, raising questions about the legality of what is currently taking place right now on these forums.”
In the United States, the WallStreetBets forum on Reddit that is seen as having fuelled the rallies briefly closed its doors on Wednesday as membership jumped past 4 million.
“We have grown to the kind of size we only dreamed of in the time it takes to get a bad night’s sleep,” read a message from the group’s moderators after it reopened.
“We’ve got so many comments and submissions that we can’t possibly even read them all, let alone act on them.”
Reddit said on Wednesday that it had not been contacted by authorities over the surges.
Heavily shorted Australian stocks Webjet, Tassal Group, Inghams Group Ltd and InvoCare all climbed on Thursday, while Sydney’s benchmark ASX 200 index fell 2%.
British publisher Pearson, drugmaker Evotec and commercial property firm Unibail-Rodamco, all big gainers in the past week, dipped in early deals.
GameStop’s U.S.-listed shares swung between small gains and losses in volatile premarket trading, while AMC, BlackBerry and Nokia all slipped more than 14% after recording hefty gains this week.
GAME ON
The war began last week when famed short seller Andrew Left of Citron Capital bet against GameStop and was met with a barrage of retail traders betting the other way. He said on Wednesday he had abandoned the bet.
Regarded by market professionals as “dumb money”, the pack of traders, some of them former bankers working for themselves, have become an increasingly powerful segment of the financial world.
ADVERTISEMENT
The only-way-is-up nature of stock markets over the past decade, fuelled by a constant flow of newly created money from major central banks, has also made it less risky to bet on shares rising.
The U.S. Federal Reserve signaled again on Wednesday it would keep its taps open to spur a slowing economy.
This week’s turmoil caught the attention of the White House, with President Joe Biden’s economic team - including Treasury Secretary Janet Yellen on her first full day on the job on Wednesday - “monitoring the situation.”
Massachusetts state regulator William Galvin called on NYSE to suspend trading in GameStop for 30 days to allow a cooling-off period.
“The prospect of intervention here is clearly high, but this will just galvanize the (WallStreetBets) community as it just brings home the feeling of inequality in financial markets,” said Chris Weston, head of research at broker Pepperstone in Melbourne.
“It’s fine to prop up zombie companies through Fed actions but if retail follows a path that greatly distorts asset prices by targeting short sellers, then this gets shut down.”
Reporting by Sagarika Jaisinghani, Nikhil Nainan and Sruthi Shankar in Bengaluru, Saqib Iqbal Ahmed and April Joyner in New York; and Thyagaraju Adinarayan in London; Writing by Patrick Graham; Editing by Saumyadeb Chakrabarty
Our Standards: The Thomson Reuters Trust Principles.
Melodi
Disaster Cat
I don't pretend to understand this situation well, but I understand enough to realize that a whole bunch of mostly young people has banded together to beat the Stock Market Gambling Den Mughals at their own game and yesterday actually managed to halt trading.
Obviously, the big boys are now in panic mode because on Friday they either have to pay for all those stocks they bought with borrowed money betting (like in Vegas) that the computers that actually run most of this stuff would bring the price down even further for their profit.
Instead, human beings decided to act like humans and not computers (aka they won't sell no matter how high their stock gets, at least not before Friday) and the "Hedge Funds" and other major players used to a "free ride" to fortune are about to have their debts called in.
In the current "political" climate, the gloves on who the folks are that think they really control everything, basically,the Corporate Master of Crony Capitalism (that isn't Capitalism) are realing since they thought they had the best government and Trading set up that money could buy.
Also, they were too stupid to realize that an entire generation raised on computer games and high tech couldn't figure out ways to get around their system, they were too busy watching their AI's do their gambling and thinking for them to pay attention to anything happening in the real world.
Fouth Turning is right...
Obviously, the big boys are now in panic mode because on Friday they either have to pay for all those stocks they bought with borrowed money betting (like in Vegas) that the computers that actually run most of this stuff would bring the price down even further for their profit.
Instead, human beings decided to act like humans and not computers (aka they won't sell no matter how high their stock gets, at least not before Friday) and the "Hedge Funds" and other major players used to a "free ride" to fortune are about to have their debts called in.
In the current "political" climate, the gloves on who the folks are that think they really control everything, basically,the Corporate Master of Crony Capitalism (that isn't Capitalism) are realing since they thought they had the best government and Trading set up that money could buy.
Also, they were too stupid to realize that an entire generation raised on computer games and high tech couldn't figure out ways to get around their system, they were too busy watching their AI's do their gambling and thinking for them to pay attention to anything happening in the real world.
Fouth Turning is right...
PghPanther
Has No Life - Lives on TB
and in other news........."Biden administration take aim at retail investors attempting to manipulate institutional firms out of stock positions and now identifies them as domestic terrorists who will be prosecuted on felony charges of the highest order"
within the article......
......"President Biden said, I am furious in the amount of money Kamala, myself and others within congress have lost recently during their ma.........ohh!!.............what?.......uhuh..........okay then...................ahem..............I'm furious at damage this has done to the scared tradition of our equities market"
within the article......
......"President Biden said, I am furious in the amount of money Kamala, myself and others within congress have lost recently during their ma.........ohh!!.............what?.......uhuh..........okay then...................ahem..............I'm furious at damage this has done to the scared tradition of our equities market"
Truly hilarious the media writing stories about how unfair it is for individual investors to ‘manipulate’ the sacred sainted market!!!!
Bbbbwwwwaaaaaa
Hey! Only us big money hedge fund traders for the elites are allowed to manipulate the markets.
The hedge funds may be prostitutes in the house of wall street but the financial media are the pimps.
If options expire Friday the powers only have 2 trading days to put the ‘fix’ in to save the big money on the other side. It would be interesting to learn how many of ‘our’ elected representatives have positions with or through the hedge funds on the current very wrong side.
Bbbbwwwwaaaaaa
Hey! Only us big money hedge fund traders for the elites are allowed to manipulate the markets.
The hedge funds may be prostitutes in the house of wall street but the financial media are the pimps.
If options expire Friday the powers only have 2 trading days to put the ‘fix’ in to save the big money on the other side. It would be interesting to learn how many of ‘our’ elected representatives have positions with or through the hedge funds on the current very wrong side.