Hah, catching falling knives is easy when you have💎🙌
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When I mean low volume, I'm talking non existing volume. Like OTC/Pink Sheets. GME's worst day volume wise in the last week was still 37M shares traded, out of 69.7M total shares outstanding. To give you an idea, the 50 day GME average volume was 32M. So no, its not relatively low.
As for incremental pricing, HFT front run your trades. The reason why Robinhood is free is they sell order flow to Citadel, who then front runs your trades.
Also while it make may you and a lot of people on wallstreetbets feel good, you are still a very small fish in a very large pool. Don't confused what individuals will do (sell at round numbers) with what hedge funds and institutions do.
Remember hedge funds are greedy as fuck, and their managers have huge egos. They'll gladly fuck over another hedge fund if it make them money, including buying discounted shares in this theoretical short ladder attack.
What are you basing any of this on? You can't just say "not financial advice" and then drop a list of stocks out there that are "smart" to invest in.
Why would anyone ever do day trading then, at any point in time you can just get completely fucked by the decision of one very large player who says, okay time to sell I want to buy something else.
The only safe plays are when decent companies are at an all time low and there's some chance they can bounce back again. And big players are on board. Watch it like a hawk incase they jump out at any given time though.
This is the stuff WSB was pushing. Didn't work out when they were downvoting any point of view that wanted to discuss or consider the strength of those points. Strange.
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Because people have egos and believe they can beat the market. Day trading statistically is a suckers game.
Over time you will underperform the market. Best thing to do is buy some diversified index funds and then go do something more fun and productive with your time.
To be fair though, when you have less money to throw around, its can be easier to locate market distortions without affecting the market too much. Its why large mutual funds struggle to produce large gains. They are so large they move the needle on their own. Smaller, more agile funds can more easily target smaller inefficiencies and achieve outsized gains.
Think of the DeepValue guy on reddit. If he had 50 million dollars, he'd have a harder time making those crazy gains just because buying 50 million dollars in stock/options would have pushed the price up, reducing his potential windfall.
True. Just warning people to look into genuine profitable or future profit companies. GME was a fun ride last week, but thats where it stops.
Personally, renewable energy is the future. Any major company dealing with EV and other data driven electric businesses are booming ever since Biden is elected.
I wish I knew many more names to throw here for others to research, but my personal list is limited haha.
Wise to just do your own research, but try not to fall for these bull traps. Looking at volume for GME, most people got in today when it was at the highest, so yeah a lot of people are falling for the bull trap.
Thats the way to do it!
Don't drop your life savings on this. Just have fun with these meme stocks. Even wallstreetbet is baffled that we keep forget the word BET in Wallstreetbet. Its a joke community that occasionally hits home run.
Apparently Mark Cuban told redditors to hold and buy back when RH opens up trading again.
WSB keeps referrencing VW 08
Which does look remarkably similar [edit: AS POINTED OUT BELOW - NOPE] ...except Porsche had most of the stock. Though institutions do own a lot of GME too.
Fuck me am I going to buy at the dip?
WSB keeps referrencing VW 08
Which does look remarkably similar [edit: AS POINTED OUT BELOW - NOPE] ...except Porsche had most of the stock. Though institutions do own a lot of GME too.
Fuck me am I going to buy at the dip?
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Apparently Mark Cuban told redditors to hold and buy back when RH opens up trading again.
They keep referrencing VW 08
Which does look remarkably similar...except Porsche had most of the stock. Though institutions do own a lot of GME too.
Fuck me am I going to buy at the dip?
VW isn't GME. History does not necessarily repeat itself.
Apparently Mark Cuban told redditors to hold and buy back when RH opens up trading again.
They keep referrencing VW 08
Which does look remarkably similar...except Porsche had most of the stock. Though institutions do own a lot of GME too.
Fuck me am I going to buy at the dip?
Note that the spike is less than 10x what it was at the low points on either of the graph. Gamestop was already 100x what it was trading for six months ago. So not only did we have a massively larger spike, it is already in the past.
The person that made the GME arrow tag and line is a lying fucking piece of shit with an insane and intentional miscalibration. Portraying the peak as only 2x or 3x the long part is just absolutely fucking vile and dishonest.
RH already allows 100 shares of GMEApparently Mark Cuban told redditors to hold and buy back when RH opens up trading again.
Apparently Mark Cuban told redditors to hold and buy back when RH opens up trading again.
WSB keeps referrencing VW 08
Which does look remarkably similar...except Porsche had most of the stock. Though institutions do own a lot of GME too.
Fuck me am I going to buy at the dip?
I think with (GE) General Electric making profits again although rather small, they have definitely turned the company around. GE could make 100 percent in 1 to 2 yrs. GE is in 4 major division. GE Engine, Medical, Electricity, Renewable. With its 3rd and 4th quarter stock now in the positive again and the possibility of aviation coming back again with the administration pushing for green energy. I think GE can be a definite long term buy from here. Thats my opinion
Yeah, I mean that's a great point too.
I'll buy when it hits $30 tomorrow.
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I feel like a lot of retail will buy back at that point too...if I wait for it to go lower I'll miss.
Fuck it I just to need to forget about this but I can't play Destruction all-stars, no ps5 :(
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This is not financial advice, but that is probably a bad idea. People were interested in GME because they were anticipating a huge spike in value and assumed they could bail before it came back down to earth. People were not buying it because they thought it was a good long term hold at $200+. It's still ridiculously overpriced at $100 so unless the peak is still to come and this is just a momentary dip then the stock is likely to continue going down. If you already know all this and want to buy more because you think it's going to spike again then have at it, but if the recent frenzy has made you think that GME is actually a good stock to own then I want to make sure you know what you're doing.
Those with it as free stock are the ones laughing the most.
not mine but good lord. Hope the fellas that bought are safe.
Sorry for not responding earlier, was asleep! I still believe AMC has movement thanks to a post-vaccine bump, and I bought in at $10 or something with money I won't miss. I'm not dumb, and hence why I've said before only invest if you know the market and have the money to lose. Stock market as a day trader is shit, this has further proven it. The hedge funds have so much fucking power it's astonishing no one has clamped on it, I mean just look at the sheer force they created in media bias and distraction alongside brokerage control. How the hell is that even legal?
The $88 thing was a regurgitation of some WSB meme referencing Back to the Future. Heck at $20-$30 I would make double/triple the profit so I don't care where it lands for me. I know it will get a bump like I saw on the ASX with retail/commercial when our states opened up. Heck even with Western Australia in lockdown supermarkets had a boon due to panic buying and guaranteed high profits.
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Ah yes, it's all the Fake News Media's fault! Them and their corrupt back room dealings with the Clintons! Wait, which conspiracy were we talking about again?
You may joke, but it is a legitimate thing with clear attempts at misguiding those who jumped in with investing being their first time rodeo with falsehoods like investing in silver of all things as a short term profit win. Commodities have never been a short term gain, they have always been a long term profit margin investment so why the hell would people jump on silver of all things wanting to get that GME repeat? No way there wasn't any meddling going on by the bigger funds/investors who stand to lose waaaay more money then day traders.
Looking at the spreadsheet it looks like it's saying the opposite? On the left has trigger date 2/1 at 9:30 (basically when market opened) and deactivation 2/3, like it gets off the short restriction list Wednesday?
And if you do like gambling, just grabbing $100 of scratchers is probably more fun and way less stressful.
Hopefully they didn't keep on buying on the way down as people keep pushing...
Some of those are not like the others 🤔
Smart/easy buy is some ETFs. Individual stock picking is a betting game. (Personal disclosure: ignore that my bet on Apple over 20 years ago worked out handsomely)
Day traders aren't idiots doing things blindly, and in a sense know it's like managed gambling. They know they'll take their losses but the key is limiting them and taking gains as much as possible. With how much movement there is constantly everywhere in the market, they can make some educated bets and have a bunch of gains to cancel out whatever losses. But micromanaging a portfolio to that level can be stressful as shit and definitely not for everyone. Hell I have a few friends that did it in their 20s and all got out before their 30s cause they couldn't stand the grind anymore.
Not loading right now but I read it earlier, I took it as more general advice rather than GME specifically. Like if you really believe in a stock, hold on to it through whatever dips. Good advice, assuming you have valid reasons to believe in it (that was my bet on Apple long ago and throughout the many massive drops over the years).
I have no reason to believe that's the case with GME for most people. Everyone is looking for a quick buck to eventually dump rather than believing GameStop's business model will ever be worth this much.
(However if you truly believe GameStop is the next Amazon, god speed)
Fortunately not, I don't think! Still, it's a waste of a small amount of money for someone who doesn't have a lot to begin with...
It was bound to happen. The stock market is mostly a rich person's game. They made the rules after all. Glad I didn't waste thousands jumping in yesterday. Woof
People keep saying this but it's not what happened. Like I said earlier in the thread, I've been a WSB member for years. I saw a bunch of WSB-ers pumping silver a day or two before the media picked it up. The media started (accurately) reporting that WSBers were pumping it, until other WSBers (keep in mind, there are 8 million of them now) saw it, realized it was taking focus off of $GME and started claiming it was a coordinated "fAkE NeWs!" takedown.
Jfc. I really hope people somewhat landed on their feet and did not use money don't have to spare.
not mine but good lord. Hope the fellas that bought are safe.
Tactics to hold funds are bizarre. Took
This person fell for the mess of a volatile market.
Whoever says DIAMOND HANDS and didn't cash out here and there is a goddammit liar.
not mine but good lord. Hope the fellas that bought are safe.
This person fell for the mess of a volatile market.
A lot of people didn't cash out, hence not much volume movement. When you take loses like that you are forced to hold, the market still does not reflect the current demand or the actual price of the stock. That person will just have to be a LONG on the stock and that's about it.
People mass panicked when Bitcoin dropped, and here we are.
And FYI, all shorted stocks dropped in the same pattern if you haven't noticed.
This is the part that is going to be interesting, there are a lot of bagholders left to sell. When this starts to really dump it's going to be epic.
Even now, it's overvalued. That stock is worth maybe $20.
The whole idea that this movement is hurting hedge funds is a pipe dream. The hedge funds are too smart, too sophisticated. They have already repositioned themselves to take advantage of this situation. I am sure they are making $$$ off this. The people who will be eating losses are the small retail traders, especially the people who jumped in last week from FOMO, first time stock buyers who have no clue what they are doing.
No sane person wants to hold GME or AMC for the long term. They are companies in dying industries. There is a reason they were so heavily shorted in the first place.
Bitcoin is different cause the value isn't based on the same basic principles...at least by classical definition. I guess an interesting possibility would be if enough people stay or keep buying in, GME could essentially be completely detached from GameStop's business for a sustained period. The effect (or non effect) of quarterly announcements would be really interesting to watch if that happens.
To limit losses if you assume it'll continue tanking, i.e. better to lose $110k before it becomes a $150k loss. Hold if you believe it'll go up (or at least just reduce the loss), but long term there's no reason to believe that'll happen. (outside of totally wacky crypto like situation I mention above)
I'm wondering if GME and AMC will be worth putting money into once they bottom out just to take advantage of their meme stock volatility. To be clear I took profits so I would just do this with house money; this is not financial advice.
This video makes that point:
Robinhood investors in $GME and $AMC have basically done a wealth transfer from retail to hedge funds and high frequency trading firms.
I agree. Even if GME still have 5500 shops, it still a declining business. It's like buying stocks for Blockbuster.
My worry with Gamestop is how small a lot of the stores are. It would be hard for them to pivot to selling more clothing or PC gear, for instance. Let alone something completely different like a barcade.
Yeah I think you're right, it reads as though they couldn't short it yesterday and today but can tomorrow lol. It's going to be a rough day.
It was much more specific than general advice I'm afraid:
People are going to lose all of it.
I wonder when the "IF HE'S STILL IN, I'M STILL IN" posts end. DFV was in this for the long position... not just specifically for the squeeze. AFAIK he didn't even start the whole diamond hand business (that ignores that retail don't own most of the stock). I think he's scared to pull out now.
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was never in on this but kinda disappointed by how boring the ending of it is turning out to be
was hoping for more of an explosive fall than this bleeding out over several days for dramas sake
was hoping for more of an explosive fall than this bleeding out over several days for dramas sake
But even as a long term holder he has to understand that GME will never reach these prices again even under better management, right? I think the general logic is that DFV realized this play that everyone else thought was dumb, so you might as well just ride it out with him and trust he sees things you don't.
I think he's worried he'll be a villian if he pulls out before it rock bottoms. If he pulls out at any stage, the thing falls apart. Everyone loses rapidly...rather than giving people a chance to pull out slowly... I dunno man. I think this went places he wasn't expecting. He might have to go down with the ship.
People know his face and he might even be in danger afterwards.
Plus, he's made $13 million already.
Pretty much. People that were hyping this up past its peak and trying to shill people on an inevitable pump around the corner should be ashamed. Regurgitating bullshit to try and con others into holding bags so they get a chance at a better out. You saw it here as it as early as this morning and still see people doing it with bum stocks already well past their prime.