Not really - I’m usually up for the last hour of trading on the NYSE.Originally Posted by arsenal
Not really - I’m usually up for the last hour of trading on the NYSE.
Have you been following GME prices....unbelievable whats happening. And it seems its not over yet!
David and Goliath battle.
Off topic I know.
Yes, some crazy underhand market manipulation stuff going on by Wall Street traders right now to cover their shorts. I'm in / down around £5k just now so watching it all closely through clenched butt cheeks :-) Perhaps a new thread required though if others are doing the same.
Yes you're right about the thread.
God, I hope you got in early and a low buy. I'm not well up on stock,shorts,long,and Puts etc etc. But I swear watching that rollercoaster share price and then I'd switch to Reddit Wallstreetbets, to read what the small traders were saying and reactions was really really exciting...and I did not have any money on it.!!!! And the big boys nobbled ROBINHOOD the APP, so the small traders could not buy! There is talk about a class action, you don't have to be a Robinhood user to benefit just be able to prove your loss....I think!
How the hell did you manage to sleep? I hope your butt cheeks recover. LOL
Best of Luck.
Ha no unfortunately I was late to the party and only took a mad glass of wine "fuck it" punt last night on reading some of those Reddit group posts myself and liking the concept.
I jumped in for the ride at at $338 :-( which isn't great based on todays action, but we'll see that just might come good over the next week of so ( or not more likely knowing my luck of late!!) .
But as you say either way that was a fairly momentous day and one which I fully expect a Hollywood movie to be made about sometime, especially when you could see all the dirty tricks and underhand moves Wall Street at their worst were ( and still are) pulling - but as I'm sure you've read too it's not over yet ! There are still a high percentage of Trader shorts out there still out needing to cover their deals one way or other and actually today even though the price was up and down like crazy the actual dealing volume was quite low, meaning that it was simply Wall Street moving stocks about among themselves to try and manipulate the price and scare the small investors off but with little net result in the end actually!. So IF everyone holds their nerve in the next few days ( which of course they'll not as Wall Street tried to scare the shit out of them) you just never know ! They could end up with a bloody nose yet perhaps - lets hope !
BUT as you've seen there on Reddit there's definitely a massive ground swell of ordinary investors now saying "FUCK THEM, LETS DO THIS" for sure now and if they hold that just might be enough to generate a decent profit for everyone in the end - but it really is casino stuff at this stage and for me anyway is more just a case of sitting back with the popcorn and letting it all play out, I'm just glad I didn't get sucked in further this morning as I nearly dropped another £10k at it just out of excitement - although at the price it was around ironically I'd of made a nice profit on that ! :-( See, my luck, typical as I say :-)
So, 'll be holding out for a while yet I think just to see where it goes, as sure it's great entertainment if nothing else !
I think you have the right strategy in holding on. I read that Melvin Capitol closed out after heavy losses ( not sure if its true as difficult to believe anything in that environment ) but as you say there are still a lot of shorted shares remaining.
There had been talk of it hitting $500 even $1000,so you might get a big payout yet! But the small traders need to be able to buy and sell as they want,not held to ransom by Robinhood and others under the influence of the Wall Street barons.
"No place for widows and orphans"
Good to see the main guy behind this on Reddit didn’t cash out today when he had the opportunity to.
If he had of he would have made a neat 14 million dollars instant profit !!! So that perhaps shows where his head and heart genuinely thinks things are going that he passed up on THAT trade in the hope / belief that there’s still an even better pay day to come !
Let’s hope he’s right !
A lot of little people are going to get burnt. There WILL be a crash in GME price - no buy-and-hold investor would pay more than $20.
A wild ride for those who cash out in time but tears for those left holding the bag.
Im not sure if you're aware of the shorts issues with this one Nitnoi but it's not normal trading by any stretch of the imagination.
If I was the SEC I'd force "Robin Hood" to change its name. Talk about false advertising...
Zebedee (January 29th, 2021)
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