Back in GME and AMC now we can trade. Smaller amount this time.
Look at this beauty
CAn you see it
Iāve never bought GME but i like this movement. Team Elon, Mark Cuban, and Chamath. and Uncle PP.
we donāt trade on here LOL
but it looks like it, only when freetrade / freetradeās FX Provider allows us to.
No no⦠not just FX⦠the Point72 owned platform my friend
Margin calls from DTC or whatever, similar to Robinhood and NSCC.
{update} CASHAPP (square-owned) also used dw and they got affectd
lol - the Reddit snowman.
Amazing video here - YouTube
I clicked and youtube recommended to watch⦠no kidding⦠Russell Brand " āYou will own nothing, and you will be happyā? | The Great Reset"
I think itās a sign.
golden comments:
āThe GME situation has produced many philosophers and very few millionaires.ā
āMy take away is if Elon Musk is involved, take profit and run.ā
āI sold this morning for a whooping 250 $ profit. It could have been 6k, but now I can at least sleep at night.ā
from
āJason Mudrickās hedge fund reaped almost $200 million on its stakes in firms that skyrocketed during a Reddit-fueled trading frenzy in recent weeks, according to people familiar with the matter.ā
āMudrick Capital Management earned 9.8% in January, one of its best months ever, making the bulk of its gains on debt and equity options of AMC Entertainment Holdings Inc., said the person, who asked not to be identified because the information isnāt public. The firm also profited from the volatility in shares of GameStop Corp.ā
Wait how do you trade this debt s***?
You cant, its for āinstitutional investorsā onlyā¦
Cramerās 7 rules for new investors: āWe are at a critical point in this marketā
So itās down almost 1500% from itās high, is it all over now?
1500% down would be quite the drop
I was glancing at that % axis.
Gone from $347~ to $92~
I paid $419 in the chaos last week
If anyone knew that then whereād the fun be?
Anyone watching L2 data from NYSE and know whatās going on with the order bookā¦? Crazy high asks showing up on the book and in the spread graphs for moments then disappearing.
Guessing itās a technical issue, just havenāt seen anything like this before (but Iām not particularly experience when it comes to watching L2 stocks data and I canāt trust the source⦠someoneās streaming it on youtube! Says its NYSE data.)
I donāt understand how the ask list can ever dry up either and just show ā- -ā. There surely must be asks and bids outside of the list that should be filling it up.
āThe man behind the firm with its fingers in every Wall Street pie has attracted the ire of day tradersā
The general rule with these sort of online movements is that as soon as the goalposts move, itās all over. The original hype was around The Short Squeeze, and as soon as that didnāt pan out the goalposts have been shifted, now itās all about the new executives and ladder attacks and so on and so forth.
Everybody knows that people are buying GME because they want to make money, and the narrative was that itās easy money āā¦because of the esoteric mechanics of the market (short squeeze) mean it must go upā¦ā so it was an obvious buy for anyone who believed that⦠now the narrative is āā¦well they hired some good peopleā¦ā but thatās just routine news, itās not a buy signal for people who donāt know about the market (but want to get rich quickly) and people buying will be the only way GME is going up[1].
Regardless of the current price and regardless of the volatility and regardless of tweets from Elon, this is over. I expect weāll see the price trend down by another 50% over the next week before a small rally and then a further slump as it settles at a price around $40. People on wallstreetbets usually lose everything (and more) and sometimes kill themselves because of it ā itās not an investment club, anybody holding GME shares for weeks is deviating from the way people in wallstreetbets make money.
I think the key mistake people make is looking at this situation as some sort of well defined and well understood market mechanic that has a template to follow, when in reality āthe marketā is⦠people and systems built by those people. The Robinhood + Citadel conspiracy is a good example of that, people have created a narrative to explain why a well understood mechanic is responsible for what happened with Robinhood, when in reality this has never happened before so of course thereās going to be nutty things happen, of course systems are going to crumble, of course thereāll be unexpected behaviour.
Any situation in which there is some sort of exploit or trick or magic available to us to make money, is a situation in which there is a greater fool⦠and anybody who cannot name the greater fool in their transaction, is the greater fool. At this point, can anybody still holding name the greater fool coming to buy their GME at a higher price than they paid?
Disclaimer: I have no position in GME.
[1] unless you believe that The Short Squeeze is actually coming and thereāll be hedgefunds buying at $1000/share because they have to rather than out of choice but I think we all know that isnāt coming.