Lets talk GME etc.

[GP403]

and Politicks doesn't need to be a part of this, unless the SEC actually gets involved.

Anyone else watching or involved with the r/WallStreetBets stuff going on? I'm in for a very meager amount, and win or lose its at least a decent education in how the markets work.... against the peons like us. So far I'm at a minor loss but its not anything I wasn't prepared to lose. Like I said its the cost of education. At this point its more of a curiosity.

 

[ck80]

It works, IF you get in early enough and out early enough without falling for the 'let er ride Vegas mentality.

Basically you're hoping enough people push behind you to prop you up. In that regard its kind of ponzi-like. You aren't making money the traditional investment way - based on company performance or dividends, mergers, etc.

You're ONLY appreciation is from those who pile in behind you proping things up. Anyone who was in before you could cash out, take their cut, and in the end you're left holding a severely overvalued piece of paper that will crater.

So it's a balancing test, really a financial game of chicken IMO.

 

[81cutlass]

 

[GP403]

perusing the subreddit is about 40% education, 30% cringe at people throwing "all in" and 30% trying to figure out who is legit and who the shills and bots are. I figure WTH.

So it's a balancing test, really a financial game of chicken IMO.

This part. If I understand correctly that's exactly what we're doing against these hedge funds. If we HOLD this stuff long enough, and keep it up, that they'll have to basically bleed trying to keep their positions from failing, and in the process send the price even higher. Maybe its all BS, definitely gonna have to keep both hands on the wheel and checking the charts often to make sure it doesn't all go t*ts up.

 

[ck80]

perusing the subreddit is about 40% education, 30% cringe at people throwing "all in" and 30% trying to figure out who is legit and who the shills and bots are. I figure WTH.



This part. If I understand correctly that's exactly what we're doing against these hedge funds. If we HOLD this stuff long enough, and keep it up, that they'll have to basically bleed trying to keep their positions from failing, and in the process send the price even higher. Maybe its all BS, definitely gonna have to keep both hands on the wheel and checking the charts often to make sure it doesn't all go t*ts up.

I was going to find a nice gif of the Bruce's helmet coming off or Wallace otherwise being betrayed..... but its too much work at the moment.

So, so easy to picture the nobles selling out early and turning for some quick profit to the other side

 

[Streetbu]

I think the feds will finally get involved and somehow bailout the hedge fund from the massive losses they will incur. Mind this won't be until the hub bub in the "news" dies down so as to not alert a majority of the public when it's pushed thru quickly.... JMO

 

[GP403]

https://www.reddit.com/r/wallstreetbets/comments/la7e12

 

[81cutlass]

I had read that the stock was short sold 130% (which is illegal?) by said hedge funds.

How 'short' was GME and is it possible or legal to short it 130%?

I don't wall street.

 

[L92 OLDS]

I find the whole situation entertaining. Personally I don’t gamble with my money and buy individual stocks. Hedge fund managers are vampires just like real estate agents.

 

[GP403]

I had read that the stock was short sold 130% (which is illegal?) by said hedge funds.

How 'short' was GME and is it possible or legal to short it 130%?

I don't wall street.

Found this in my quest this morning, I think this describes what you're talking about. The part about "counterfeit shares"

Anatomy Of A Short Attack

Published courtesy of Citizens for Securities Reform, at http://counterfeitingstock.com/CS2.0/CounterfeitingStock.htmlAbusive shorting are not random acts...

seekingalpha.com

Also

https://www.reddit.com/r/wallstreetbets/comments/l72r36

The camaro analogy is particularly tasty