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re: Holding AMC Thread- Diamond hands unite
Posted on 6/7/21 at 1:43 pm to Epic Cajun
Posted on 6/7/21 at 1:43 pm to Epic Cajun
quote:
AMC even reaching the levels that it is currently at ($50+)? Your reasoning can be logical
Define logic... this is a pump and dump pure and simple. Lots of money can be made in the pump. However most people including myself do not know when to sell. This is why I have no position in this stock.
I am surprised it got all the way to 70. I underestimate how many people play the lottery
The underlying business is probably worth less than 5 dollars a share even with a full recovery due to dilution. So I dont want to be holding when it eventually corrects to that.
When that is, who knows
This post was edited on 6/7/21 at 1:44 pm
3
Posted on 6/7/21 at 1:49 pm to UltimaParadox
How many more days can this go on? It's the same pattern every day... jumps up then falls down on the way to market close.
Posted on 6/7/21 at 1:57 pm to Epic Cajun
quote:
Were you for or against the potential of AMC even reaching the levels that it is currently at ($50+)? Your reasoning can be logical, and the outcome and still come out differently than you expected.
Let me recap my takes on pricing, and someone can correct me if I’m wrong:
- I didn’t believe $20+ was likely, at all, but I never thought it was impossible. Irrational stuff happens, but as I’ve said multiple times the past week and a half, I wouldn’t have bet on this price happening (obviously, or else I’d be long)
- I think 4 digits is impossible. Still do.
- I think the reasons people argued for $20+ were bogus. Still do.
- I didn’t think enough people would be willing to come back to this well for those bogus reasons.
At the end of the day I was wrong on price and that’s all 99% of people care about. I don’t blame them. The reason I post about stocks I don’t own - on up or down days - is because I’m more interested in the reasoning. I’m looking for things that are repeatable.
But yeah, for like the 100th time, the stock is higher than I thought it would get. I was wrong.
Posted on 6/7/21 at 2:58 pm to slackster
quote:
At the end of the day I was wrong on price
Not that you want it, but I gained some respect for you with this post. Nobody is right 100% of the time, it's nice to see people stand up and just say it.
quote:
I’m more interested in the reasoning. I’m looking for things that are repeatable
Well the reasoning.... I think it's more about principle with the Reddit Crowd. Principle can be a strong motivator. And as far as repeatable, I am not sure these type of plays can be comparable in the multitude of ways that we would like to see.
Truth is, after all the dissecting of information that I had... I wasn't 100% sure it would squeeze but I was fairly confident that it wouldn't fall much below the $9 range if any. So while I took a gamble on the squeeze, it was a much less of a gamble of losing my investment.
Everyday I have to look at the numbers, etc. in order to find reasons to sell out or keep holding. There is no "number" I am looking for.... I might sell everything in after hours today but when I sell it will be because I feel like that is the best thing to do at the time with the information that I have..
Good luck in your investments!
Posted on 6/7/21 at 3:15 pm to PennyPacker
quote:
Truth is, after all the dissecting of information that I had... I wasn't 100% sure it would squeeze but I was fairly confident that it wouldn't fall much below the $9 range if any. So while I took a gamble on the squeeze, it was a much less of a gamble of losing my investment.
Which is understandable and obviously working out. I think those $.01 price targets and such were actually pretty sound, but they couldn’t account for the support the stock would have during all of their dilutions. At the end of the day people are only worried about the price, so very few will care even if they ultimately go bankrupt.
quote:
Everyday I have to look at the numbers, etc. in order to find reasons to sell out or keep holding. There is no "number" I am looking for.... I might sell everything in after hours today but when I sell it will be because I feel like that is the best thing to do at the time with the information that I have..
That’s all anyone should do. Look, I like the banter and back and forth with folks, but I also think it’s important that people see information in the right context so they can decide for themselves. I’m not arrogant enough to believe anyone is listening to me specifically, nor do I care, but I do hope they’re trying to find as much objective information as they can. Hopefully the net result of these threads helps in that respect.
The irony of people getting upset with AMC doubters is that none of this price action would even be plausible without AMC doubters.
Posted on 6/7/21 at 3:18 pm to Hailstate15
I believe Ortex is done with their live short information for the day. Net borrowed shares decreased by 16.5MM shares. Net short interest estimate fell by 10.6MM shares. Now stands at 60.6MM shares, slightly less than 12% of the free float.
Posted on 6/7/21 at 3:28 pm to slackster
I sold 1000 more at $55 today. Still holding 500 shares. I will ride these into the sunset, may add more if it gets dropped hard looking for bounce. Up 72k in 2 months. No ragrets
Posted on 6/7/21 at 3:33 pm to ItNeverRains
CLOV overtakes BB and AMC as most discussed stock on WSB over past 24 hours
Posted on 6/7/21 at 3:38 pm to Upperdecker
I bought 1250 CLOV at 10.40 today as well. Based here in Franklin TN so helping out the local boys plus making money is a win win
Posted on 6/7/21 at 3:50 pm to ItNeverRains
quote:
Up 72k in 2 months. No ragrets
I would hope not.
Posted on 6/7/21 at 5:06 pm to slackster
quote:
People that pay me have a hard time listening to me, so I can’t imagine people that get advice for free are paying any attention.
Well what did these people that pay you say about not making them money on AMC?
Posted on 6/7/21 at 5:20 pm to honeybadger07
quote:
AMC Entertainment Holdings Inc (NYSE:AMC) jumped another 10% on Monday, and the hashtag #NakedShorting was trended on Twitter in the process.
On Monday’s Benzinga PreMarket Prep, co-host Dennis Dick discussed why the idea that naked short sellers are behind the high short interest in stocks like AMC and GameStop Corp. (NYSE:GME) is a completely false social media narrative.
“The shorts might get squeezed, but there really isn’t a lot of naked short selling in practice,” Dick said.
He said many AMC and GameStop traders are misinformed about what GameStop’s peak 2021 short interest of around 130% actually means.
Rehypothecation Explained: Back in February, Bill Harts, former CEO of Modern Markets Initiative, explained that stocks can have a short interest above 100% due to a phenomenon known as rehypothecation.
When a short seller opens a 100-share short position, he or she must first borrow 100 shares of stock. Those shares are then sold to a buyer to open a 100-share short position. That buyer can then turn around and lend out the shares to another short seller, which can open up a second 100-share short position on the same 100 shares of stock.
Because brokers aren't required by law to tell buyers their shares were borrowed by the seller, Harts said that chain of rehypothecation can continue indefinitely and has sometimes resulted in certain ETFs temporarily having short interest of more than 1,000%.
All of this is regulated by Regulation SHO, a regulation created by the SEC and enforced by FINRA, which requires that brokers report all their trades that failed to clear for one reason or another (this list would presumably expose naked shorting).
But according to Tim Quast, founder of Market Structure Edge, the list doesn't show that.
"There is very little naked shorting," said Quast, "That's not the problem. The people who are trying to look for naked shorting here don't understand the way the stock market works. It's not naked short selling, and it's not illegal behavior that is leading to this."
Naked Short Selling Crackdown: Dick said institutional investors and hedge funds are often audited by regulators to ensure that they're not engaged in naked short selling, which is illegal. Regulators cracked down on naked short selling following the financial crisis in 2008.
In 2021, if you are short a stock and the original lender sells his or her shares, the broker must locate additional shares to borrow. If it can’t it will potentially close out the short position in a process known as a buy-in.
“I’ve had buy-ins happen to me lots of times. I short stocks, and I get that notice. I’m like I want to be short this stock, but I know I have to go cover it right now because if I don’t do it the broker will physically go into my account and execute a buy,” Dick said. “We’re passing around all this nonsense on social media about naked short selling running rampant. This is misinformation.”
Dick said there could be a handful of small naked short sellers out there breaking the law, but no major market makers like Citadel are opening naked short positions.
“It isn’t common practice that everybody’s just running around and doing naked short selling and it’s the Wild West because there’s fines for that and potential jail sentences for that,” Dick said.
This is from Benzinga. Journalism isn’t that great so take a shot every time you read Dick said
This post was edited on 6/7/21 at 5:22 pm
Posted on 6/7/21 at 5:27 pm to jangalang
But what about the share count? Greyparrot has been telling everyone that's gonna pull back the curtain and expose manipulation, or illegal activity or something, probably leading to an explosion in the share price.
This post was edited on 6/7/21 at 5:28 pm
Posted on 6/7/21 at 6:07 pm to honeybadger07
quote:
Well what did these people that pay you say about not making them money on AMC?
They’re too busy bitching at me that they missed out on Doge to worry about the peanuts you’re making in AMC.
Posted on 6/7/21 at 6:12 pm to jangalang
I’m not disagreeing with the report, but the entire premise of AMC to the moon is based on the idea everyone in finance is lying. It’s like any good conspiracy theory- it cannot be disproven by facts because they don’t believe the facts.
Posted on 6/7/21 at 7:30 pm to slackster
quote:
They’re too busy bitching at me that they missed out on Doge to worry about the peanuts you’re making in AMC.
0 for 2 then….well done.
I’ll gladly take my 247% ROI. Your clients must be making shite loads of money if you consider that peanuts. But I don’t get paid for this stuff.
But you do you superstar.
Posted on 6/7/21 at 8:40 pm to honeybadger07
quote:
0 for 2 then….well done.
I’ll gladly take my 247% ROI. Your clients must be making shite loads of money if you consider that peanuts. But I don’t get paid for this stuff.
But you do you superstar.
You seem angry. It was clearly a joke.
Is your entire portfolio up 247%? Just curious.
Posted on 6/7/21 at 9:41 pm to slackster
Just CNR doing better, currently up 403%
Nosy
Nosy
Posted on 6/7/21 at 10:10 pm to honeybadger07
Packed up after unwinding for a bit. Leave out in the morning and I’m back to pump up the lurkers that doubt the the lottery tix ur holding. Man pay attention to news. They doubted this. Said it was a penny stock. Now they saying we could get to 100 or 500. Citadel pays the media and chi too. I keep saying he works for shitadel. Get ur shares if don’t and hold if u have them. Don’t be stupid boys. Msm now on our side for a squeeze of 100 or 500. frick that shite. This bitch going way into an atmosphere u didn’t think was possible. Pumping up clov or this or that.
Keep holding mfs. It’s easy to hold. It’s a gamble yes but all signs says it’s in ur favor. Trust it
Keep holding mfs. It’s easy to hold. It’s a gamble yes but all signs says it’s in ur favor. Trust it
Posted on 6/7/21 at 10:22 pm to Sasquatch2020
Slackster seems good ppl but they don’t know shite when it comes to this play. Hell I don’t understand it but I have done my dd and just wait. All bets are off. This is gambling that is all. I want everyone to make cash. We will win this. Apes are strong and they aren’t selling. Gamble with the money u feel comfortable with. Buy some and hold. So simple
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