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Anyone see the crazy stock market moves lately? (Reddit etc)
Posted: Wed Jan 27, 2021 10:14 pm
by ***1776***
That some stocks (especially GME) have gone to the moon, from $20 a share to over $375 in a couple of days
People on Reddit and other social media sights decided to buy stocks with alot of short interest (Hedge funds basically betting that the stock will go down in price) decided to start buying these stocks and forcing the shorts to cover thus increasing the price to astronomical levels. I had AMC and sold it yesterday just before the close and the stock was up $15 today if i held overnight
. I was able to make a couple of bucks today in the AM but not as much if i held original position
This the social media story past couple of days, anyone see it play it?
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Wed Jan 27, 2021 10:36 pm
by Diddlybo
Yeah, I saw that. The hedge fund guys took it in the shorts. Literally.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Wed Jan 27, 2021 10:42 pm
by TurboPablo
Yep.
From what I have read, the hedge funds are crying because they got fucking hosed at the same game they have been playing for years.
Boo fucking hoo.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Wed Jan 27, 2021 11:08 pm
by Steinmetzify
Made some $ on that; buddy of mine was $10k in and got decently paid yesterday lol
Gonna buy some AMC and some NAKD in the am, see what happens.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Wed Jan 27, 2021 11:16 pm
by ajaxlepinski
The balloon is just about full....
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 1:12 am
by Ostinato Rubato
Financial firms and media reaction = OH THE IRONY
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 5:16 am
by neilrocks25
I was just reading this and it ties in nicely.
https://www.bbc.com/news/business-55817918
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 6:17 am
by Marc G
a friend of mine made some good change yesterday lol... another tried to get it too late but Ameritrade locked trade on the Blockbuster, AMC and Blackberry stocks
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 6:47 am
by K-Bizzle
Definitely have been reveling in watching this play out.
The ultra rich treat Wall Street like a casino and it’s nice to see them get taken by average Joes for once.
Unfortunately I’ve got a feeling they’ll get bailed out or have some kind of retroactive regulations put in place because regardless of who’s in charge politically they’ve already bought government.
Maybe this specific instance affects few enough of them that that won’t happen this time but we’ve seen this shit before. They fuck up, cry to the government and say the economy will tank if the government doesn’t step up, massive bonuses get paid out to the guys who caused the fuck up, and we get stuck with the fucking bill.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 9:29 am
by nightflameauto
It's been fantastic to watch the professional short stockers get ripped a new one by "the little guys," that can afford to play the game. But the major stock exchanges are already discussing preventing trades on the stocks in question, and there's chatter that regulators need to "protect the smaller players" by preventing them from buying stocks that are currently leveraged with shorts. Basically, the big boys that have been using the short game to make bank while breaking companies and people are trying to get the little players out of the game so they can have their fun without competition.
At least there was a brief blip of satisfaction watching those fuckers get theirs for a moment.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 10:12 am
by TurboPablo
Let's bail out the hedge funds with some good old fashion socialism.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 10:35 am
by TurboPablo
As a American taxpayer, I feel it is my patriotic duty to subsidize the lifestyle and investments of hedge fund managers and investors with my hard earned tax dollars.
Let's fucking do this
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 10:37 am
by BroSlinger
Do people actually know what hedge funds are?
The individual investors in the hedge fund are the ones who got fucked. Not the managers. The managers will get new jobs at new hedge funds.
I'm all about chaos and fun, but redditors are really just screwing over Grandma in this situation.
Hopefully, the hedge fund managers learn not to invest in naked shorts.
There won't be bailouts because the individual investors were the ones at risk investing into the fund.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 10:49 am
by itchyfingers
If I learned anything in 2020 its that the stock market =/= the economy.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 12:06 pm
by Steinmetzify
It’s been fun to watch this morning. GameStop stock went down to $132, and they’ve stopped trading on it like 6 times since the market opened. Interesting to see what’s going to happen.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 12:08 pm
by Ry Manchu
I am shocked, shocked to find that our laissez faire stock market doesn't have more regulations to protect the big guy from losing money to the little guy. Is this America? Not sure of all the stocks they're doing this with, but just checked and AMC Theaters and Tootsie Roll are down too. Looks like people cashed out.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 12:13 pm
by Devin
BroSlinger wrote:Do people actually know what hedge funds are?
.
From the posts I've been seeing on social media it appears that most people in fact do not know
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 12:45 pm
by ***1776***
The fact that Robinhood wont allow people to trade some of these stocks is absolute BULLSH!T, (Maybe even a lawsuit) - There is a tweet going around from 2016 from Robinhood basically saying let them trade, which ironically they are NOT doing right now on some stocks
Mark Cuban and others are criticizing Robinhood for doing this and the other nonsense going on in the market now
To be "fair" these is a element of pump and dump IMO and people have to be careful but still to now allow any stock trading is not good
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 1:19 pm
by Steinmetzify
***1776*** wrote:To be "fair"
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 1:33 pm
by Ostinato Rubato
BroSlinger wrote:Do people actually know what hedge funds are?
The individual investors in the hedge fund are the ones who got fucked. Not the managers. The managers will get new jobs at new hedge funds.
I'm all about chaos and fun, but redditors are really just screwing over Grandma in this situation.
Hopefully, the hedge fund managers learn not to invest in naked shorts.
There won't be bailouts because the individual investors were the ones at risk investing into the fund.
Does grandma really play in the short market though?
The point here I think is that this reveals what a fugazi the market is, where you can see how easily manipulatable valuation is. So, fuck grandma... temporarily... it's not her fault but she hired managers who are part of an institution that colludes to drive speculation through industry talking heads and the media in the direction they want.
What's the difference between them driving speculation off a cliff to kill Gamestop (which also really hurts many a more grandmas on Main St.) and a group of organized average Joes driving the speculation in the opposite direction just the same?
It's titanically ironic, and it was fair, fucking, play.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 1:39 pm
by nightflameauto
Steinmetzify wrote:***1776*** wrote:To be "fair"
There is no such thing as too many Letterkenny references.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 1:39 pm
by BroSlinger
***1776*** wrote:The fact that Robinhood wont allow people to trade some of these stocks is absolute BULLSH!T, (Maybe even a lawsuit) - There is a tweet going around from 2016 from Robinhood basically saying let them trade, which ironically they are NOT doing right now on some stocks
Mark Cuban and others are criticizing Robinhood for doing this and the other nonsense going on in the market now
To be "fair" these is a element of pump and dump IMO and people have to be careful but still to now allow any stock trading is not good
A B/D can limit sales on anything they want for any number of reasons, assuming they aren't discriminating. Read the contract you signed when you opened a brokerage account.
On the flip side, price manipulation is illegal, and the SEC
could go after people in the WSB subreddit. No wonder they closed the group.
I'm just trying to play devil's advocate here. I'm seeing a tremendous amount of people on social media who have no idea what they are talking about.
https://www.sec.gov/files/Market%20Mani ... tudies.pdfMarket Manipulation: Their words:
"Harmful because it affects the integrity of the market place"
"Price should be set by the unimpeded collective judgment
of buyers and sellers"
"They start hyping the stock to the public to generate
artificial interest in stock and cause price to rise"
"May be orchestrated “conversations” in chat rooms, social
media or on message boards that follow particular stocks or the
markets"
"In all likelihood, if you can determine who profited
at the end of the day that is the prime suspect for
your manipulation"
I wouldn't want my computer or identity tied to that subreddit if I had made a big profit. I'm not saying the SEC would be right in going after big manipulators, but DON'T be surprised if they do.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 1:49 pm
by BroSlinger
Ostinato Rubato wrote:
Does grandma really play in the short market though?
The point here I think is that this reveals what a fugazi the market is, where you can see how easily manipulatable valuation is. So, fuck grandma... temporarily... it's not her fault but she hired managers who are part of an institution that colludes to drive speculation through industry talking heads and the media in the direction they want.
What's the difference between them driving speculation off a cliff to kill Gamestop (which also really hurts many a more grandmas on Main St.) and a group of organized average Joes driving the speculation in the opposite direction just the same?
It's titanically ironic, and it was fair, fucking, play.
If she invested in that hedge fund, then yes, she did play the short market.
Not sure if she read the prospectus though. Suitability to invest into a hedge fend isn't super stringent. Remember all of the regular folks who got fucked by Bernie Madoff. These regular folks are no different. They just got fucked by market manipulators instead of the manager. (even though they were indirectly fucked by the manager making a stupid bet on naked shorts)
TO BE FAIR (I love Letterkenny).....Every investor should know the risks going in. It's in the prospectus.
If you lose everything, you shouldn't have had it all in one basket.
it was fair, fucking, play. You're right in theory, but check my above post about what the SEC says about market manipulation. Not that I agree either way, but wait for the enforcement agencies to get involved.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 1:49 pm
by BroSlinger
Steinmetzify wrote:***1776*** wrote:To be "fair"
This made my day. My Dad and I say this constantly.
Re: Anyone see the crazy stock market moves lately? (Reddit
Posted: Thu Jan 28, 2021 1:54 pm
by ***1776***
Portnoys a bit of a blowhard at times but hes making some valid points
https://www.barstoolsports.com/blog/329 ... -to-prison