The Market 2021

[dscher]

over 325 now. Apparently the guys who drove it up have sold out but it's still going up on momentum from all the short sellers getting squeezed.

Unreal. Could have made 7X in a few days if you were in and held on.

Just as easily as it could have been right back down to 50 or 100 as well.. throwing money at these are like pulling a lever at the slots. Crazy people even dabble in these things with anything more than minuscule play money. Blows my mind.

 

[Devilmaycare]

Wells hasn't been in the online discount broker space that long. They are lagging badly in that area.

Yes... I left Wells happily a few years ago and went to Merrill. The don't allow investing/trading for Btc or vix products.. which is shady biz imo. But, nonetheless I stick with them for their package deal with the banking side.

Ok, thanks guys. I had a feeling that was the case. I was checking mainly due to the office convenience factor.

 

[Russ Smith]

Yeah, it's nuts. I didn't realize what was happening last week either. My thinking was $30 for GameStop, way over priced they're a dead company. $80 for it now, it can't go higher than that. $150 you'd have to be crazy to buy now. $320 ok, this madness has to be near the end, right? right? lol

Meanwhile a guy I work with just got himself completely out of debt and is starting to get house down payment money. I'm super happy for him but really kicking myself.

Yep you just never know when it's going to end though but yes I know someone who made 28K this week on it and he sold yesterday so if he'd held, it would have been about 60K.

Just total madness but if you're on the right side of it hallelujah!

 

[dscher]

https://northmantrader.com/2021/01/27/instability/

 

[BigRedRage]

I threw some change into AMC, BB and GME just to participate. This is wild.

 

[unseenaz]

I sold 5 shares of GME at $14 per for double profit in november. yikes.

 

[dscher]

I sold 5 shares of GME at $14 per for double profit in november. yikes.

Ooof! Lol. But hey, never lose money taking a profit. . The market isn't so much how much you make...but more of how much you don't lose.

 

[unseenaz]

Ooof! Lol. But hey, never lose money taking a profit. . The market isn't so much how much you make...but more of how much you don't lose.

i know, i tell myself that... but.... but

lol

 

[Folster]

Blockbuster liquidation Inc (BLIAQ) is up 1900% in the past 2 days.

 

[Russ Smith]

And now short sellers and hedge funds are demanding the SEC step in and halt stocks and investigate pump and dump schemes from Reddit and other stock sites.

it's ok when they use their assets and numbers to squash a stock they're shorting for THEIR profit, but when someone turns it around on them that's not fair.

 

[dscher]

Blockbuster liquidation Inc (BLIAQ) is up 1900% in the past 2 days.

Damn. Missed that one...

 

[unseenaz]

And now short sellers and hedge funds are demanding the SEC step in and halt stocks and investigate pump and dump schemes from Reddit and other stock sites.

it's ok when they use their assets and numbers to squash a stock they're shorting for THEIR profit, but when someone turns it around on them that's not fair.

This could either be the first layer of unraveling corruption within the elite, or covered up showing us how truly screwed we actually are

 

[dscher]

it's ok when they use their assets and numbers to squash a stock they're shorting for THEIR profit, but when someone turns it around on them that's not fair.

This. Like folster indicated, don't want to turn this political or into what's morally right/wrong, but this feels like a movement of some sort. A sort of....

You must be registered for see images attach

 

[Russ Smith]

And here come the Trump supporters I told you so, Biden will crush the markets. It's actually Powell who said they were going to hold steady, which was expected, but the markets wanted more action from the fed so we're down 2 to 3% and that's Biden's fault even though Trump picked Powell.

They're blaming Yellen who was sworn in, but it was Powell and frankly he did what he should do there's not much room left to go down in interest and if they increase the propping up of the markets it just makes inflation more likely.

Anybody who watched what Trump and the Fed was doing knew this was going to happen eventually.

 

[Devilmaycare]

WTF! Someone on twitter claimed Vanguard and BofA is doing it with GME too.

https://www.marketwatch.com/story/g...being-restricted-at-td-ameritrade-11611769804

 

[dscher]

I advise a quick watch /rewatch of v for vendetta if anyone wants to be super creeped out with our current environment. lol.

 

[dscher]

And here come the Trump supporters I told you so, Biden will crush the markets. It's actually Powell who said they were going to hold steady, which was expected, but the markets wanted more action from the fed so we're down 2 to 3% and that's Biden's fault even though Trump picked Powell.

They're blaming Yellen who was sworn in, but it was Powell and frankly he did what he should do there's not much room left to go down in interest and if they increase the propping up of the markets it just makes inflation more likely.

Anybody who watched what Trump and the Fed was doing knew this was going to happen eventually.

Yes..once the yellen/powell tandem hit, the writing was on the wall. This ain't your mom and pops usg anymore.

 

[BigRedRage]

And now short sellers and hedge funds are demanding the SEC step in and halt stocks and investigate pump and dump schemes from Reddit and other stock sites.

it's ok when they use their assets and numbers to squash a stock they're shorting for THEIR profit, but when someone turns it around on them that's not fair.

of course they are. boohoo.

 

[dscher]

WTF! Someone on twitter claimed Vanguard and BofA is doing it with GME too.

https://www.marketwatch.com/story/g...being-restricted-at-td-ameritrade-11611769804

That's a huge message to the banking system.. that's fear being thrust right upon their doorstep. A necessary and inevitable one..imo.

 

[Folster]

WTF! Someone on twitter claimed Vanguard and BofA is doing it with GME too.

https://www.marketwatch.com/story/g...being-restricted-at-td-ameritrade-11611769804

You can still buy it, but they are not letting you borrow against the inflated value. Typically you can use 50% as collateral in margin accounts for most securities. Brokers are limiting the exposure to protect themselves and clients. If you were able to borrow against the inflated value, you'd be in big trouble when the inevitable happens

 

[dscher]

You can still buy it, but they are not letting you borrow against the inflated value. Typically you can use 50% as collateral in margin accounts for most securities. Brokers are limiting the exposure to protect themselves and clients. If you were able to borrow against the inflated value, you'd be in big trouble when the inevitable happens

The whole system is a mess.. how you allow GME to get 136% of their float is insane and supposedly illegal. Sec regulation anyone? Not a peep. Wonder why.

 

[Devilmaycare]

You can still buy it, but they are not letting you borrow against the inflated value. Typically you can use 50% as collateral in margin accounts for most securities. Brokers are limiting the exposure to protect themselves and clients. If you were able to borrow against the inflated value, you'd be in big trouble when the inevitable happens

Ah, that makes sense. The comments I was seeing made it sound like it was a halt within the brokerage.

This. Like folster indicated, don't want to turn this political or into what's morally right/wrong, but this feels like a movement of some sort. A sort of....

xc_hide_links_from_guests_guests_error_hide_media

 

[Russ Smith]

Totally unrelated but I've been watching NAKD for awhile because I thought it was the Naked that makes juices and smoothies we've been buying. Today it's up 230% to 1.30 a share, it was in the 30 cent range when I started watching it.

Turns out it's NOT the same company, this one is based in NZ and they make "intimate apparel", underwear, lingerie etc. I guess they were about to get delisted got a reprieve due to Covid and then started to go up, when it doubled to 40 cents the short sellers got in and now there's a huge squeeze driving it up too.

if I had just bought it still thinking it was the juice company!

 

[dscher]

Ah, that makes sense. The comments I was seeing made it sound like it was a halt within the brokerage.

xc_hide_links_from_guests_guests_error_hide_media

Bravo Chamath!

...thanks for that.

Edit: that was pure own-age BTW. The talking heads stand no chance.

 

[BigRedRage]

Ah, that makes sense. The comments I was seeing made it sound like it was a halt within the brokerage.

xc_hide_links_from_guests_guests_error_hide_media

I saw this interview. Dude killed it, especially his final comments.