The Market 2021

[crisper57]

So, to bottle this market craziness down to movie terms...

the GameStop play by Reddit was basically A New Hope with the rebels taking down the Death Star and now the market is in The Empire Strikes Back phase?

More like Revenge of the Sith, where the Reddit clones who were warring against the evil army (hedge funds) suddenly get the upper hand, only for an order to come down that turns them into evil pricks themselves. Then they become the thing they fought against and kill the younglings...I.e. the non-savvy late-comers willing to buy a $3 piece of paper fir $300, $275, $250...

 

[Yuma]

Schwab. No trade fees. Good platform.

While researching I see TD Ameritrade, that gets good marks for their platform was bought by Schwab. I am assuming to get the TD Ameritrade platform and customers.

 

[Yuma]

its really tough and having an aggressive mindset near retirement can sink or swim. tread carefully.

I was very aggressive in my 401k I had to liquidate and had nearly a quarter million dollars when I turned 40. I was on my way to a 1 million dollar 401k but the great recession and personal things derailed all that! So I know I can do it. I just need cash flow now.

 

[BigRedRage]

$gme [emoji573] billboards in colorado and NYC

 

[Devilmaycare]

$gme [emoji573] billboards in colorado and NYC

And we had this today

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[BigRedRage]

And we had this today

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This is fantastic

 

[thirty-two]

This whole thing made me sour completely on robinhood. Signed up for Vanguard this weekend and will be moving everything over to them. Sucks cuz I did like robinhood’s app and ease of things.

 

[Finito]

And we had this today

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just no words to describe how awesome that is.

 

[Folster]

This whole thing made me sour completely on robinhood. Signed up for Vanguard this weekend and will be moving everything over to them. Sucks cuz I did like robinhood’s app and ease of things.

What's a self-described boglehead doing on Robinhood anyway? Vanguard should be your home.

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[Devilmaycare]

BTW, don't believe the Silver hype. It seems like every news outlet right now is claiming that Reddit users are targeting it now. That's completely false if you look at WSB for 5 seconds. It's still all BANG (BB, AMC, NOK, GME) there. Basically they're still holding and buying GME and if they don't have the money for it they're falling back to the other 3. There's something weird about all of these media reports about it.

 

[dscher]

What's a self-described boglehead doing on Robinhood anyway? Vanguard should be your home.

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Play money needs an account too!

BTW, don't believe the Silver hype. It seems like every news outlet right now is claiming that Reddit users are targeting it now. That's completely false if you look at WSB for 5 seconds. It's still all BANG (BB, AMC, NOK, GME) there. Basically they're still holding and buying GME and if they don't have the money for it they're falling back to the other 3. There's something weird about all of these media reports about it.

You don't hear much about the true demand. It's not in the derivative products..but the physical metals. Weird. .

 

[BigRedRage]

BTW, don't believe the Silver hype. It seems like every news outlet right now is claiming that Reddit users are targeting it now. That's completely false if you look at WSB for 5 seconds. It's still all BANG (BB, AMC, NOK, GME) there. Basically they're still holding and buying GME and if they don't have the money for it they're falling back to the other 3. There's something weird about all of these media reports about it.

silver owners got a nice free bump thanks to the fake news

 

[dscher]

silver owners got a nice free bump thanks to the fake news

Strangely..I could see this being the initial thrust for both gold and silver prices in general, regardless of the story or news. They are in long term uptrends and the only thing that will hurt gold in the short term is dollar pressure to the upside.

 

[thirty-two]

What's a self-described boglehead doing on Robinhood anyway? Vanguard should be your home.

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Fair question. I had used robinhood to dabble in stocks for a very small portion of my fun money from time to time.

My actual retirement funds are very much boglehead.

 

[Folster]

Fair question. I had used robinhood to dabble in stocks for a very small portion of my fun money from time to time.

My actual retirement funds are very much boglehead.

I'm just messing with you. I mainly do indexing in my retirement accounts too.

 

[unseenaz]

mark cuban did a Q&A on reddit's wallstreetbets this morning.

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mark is an awesome dude

 

[BigRedRage]

I've been watching this whole situation more than anything I've watched in a long time. super fascinating. Never knew about the ladder game they play. crazy. stock will dip for hours with ladder drops with no halting and once ladder is done and it starts surging, suddenly it halts over and over. Unbelievable.

 

[dscher]

The rest of this week should be a roller coaster ride for sure. Things look like it could turn into another squeeze to the upside in gme and it's ilk. That will cause a potential sell off in the broad market. The charts are aligning for something to that magnitude. Another convenient way of blaming the retail/little guy for a market top and volatility in the marketplace..which won't be true imo.

 

[BigRedRage]

I see GME impacting some etf and etc funds as people liquidate to avoid hedge moves but really, the hedge moves all over playing with scared money will be more reason of damages than the retail investors.

The GME stock is bought over 100% and has large holdings from the reddit groups. I expect nothing but a squeeze but not sure when it will happen. Rumor has it GME has been removed from being able to be shorted as of today. It's a powder keg right now. There are daily ladder attacks with very little volume. The reddit mob is not selling and neither are the shorts, just lots of penny ladder attacks.

PS: I like the stock

(not investment advice, I'm an idiot)

 

[BigRedRage]

also interesting to watch, the GME and AMC charts look very similar every day. Same tactics happening on both. I do not expect AMC to rocket like GME, GME has far more traction. AMC could get a real nice bump though, especially if GME moons.

 

[Folster]

also interesting to watch, the GME and AMC charts look very similar every day. Same tactics happening on both. I do not expect AMC to rocket like GME, GME has far more traction. AMC could get a real nice bump though, especially if GME moons.

What? It's already been to the moon at $483. It's on it's way back to Earth and about to burn up on reentry. It's 52 week range is $2.57-$483. That's a 18,694% increase from it's low.

 

[BigRedRage]

What? It's already been to the moon at $483. It's on it's way back to Earth and about to burn up on reentry. It's 52 week range is $2.57-$483. That's a 18,694% increase from it's low.

I guess we'll see. There are still over 100% of shares owned. It's also still under constant ladder attacks as hedge funds try to draw price down more and get out.

 

[Russ Smith]

FWIW been reading about this ladder attack thing while eating my lunch. Either they're really good liars or it's not a real thing. Most shorts are saying they have never even heard of it before and the entire idea behind it makes no sense because you can't really fake sell orders to convince people the price is going down and they should sell.

 

[BigRedRage]

FWIW been reading about this ladder attack thing while eating my lunch. Either they're really good liars or it's not a real thing. Most shorts are saying they have never even heard of it before and the entire idea behind it makes no sense because you can't really fake sell orders to convince people the price is going down and they should sell.

The premise behind it is selling the share back and forth as a very small loss each time to slowly bring the share price down. It's not selling fake orders.

 

[Russ Smith]

The premise behind it is selling the share back and forth as a very small loss each time to slowly bring the share price down. It's not selling fake orders.

It is selling fake orders. When you short a stock you borrow shares, in the industry they apparently refer to those as "fake shares" so when you do an order in this ladder scenario short A sells at 200 to short B, who then turns around and sells at 199 to short A, they are saying those are fake orders because they're selling "fake shares.". In theory if they keep selling back and forth so both are taking the slight loss once and gain once, they drive the price down without losing money.

https://www.institutionalinvestor.c...llers-Have-No-Idea-What-They-re-Talking-About

I have no idea what's true and what's not but apparently virtually all the big guys who are short are insisting there's no such thing as a short ladder and the actual concept wouldn't work if someone tried it. It would seem it would require incredible coordination between shorts.

ONe of the articles talking about the ladders thing said short interest has gone from 140 to 53 percent in GME and it's because of the short ladder thing, but there are multiple others out there pointing out that because of the way short selling works, people were required to cover and close their shorts in many cases last Friday and that's why the short interest went down, all those people buying shares to close their short positions.

That's why I said I don't know if they're just really good liars or not but big shorts and hedge funds are insisting what the guys on Wall Street Bets are saying about short ladders is not real. In fact the link I posted said even lots of people on Wall Street Bets are saying they have no idea what the ladder thing is supposed to be but that's not what happened. They simply refused to let people buy the stock which drove the price down because the only people who could buy, were the shorts trying to cover their trades so they were paying less knowing there was no competition that wasn't also short.

I don't read the Reddit site so I don't know but what I am finding online insisting this is some made up thing by some Reddit users based on a couple of very old articles.