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re: So I bought some Gamestop(GME)

Posted on 1/29/21 at 8:20 am to
Posted by LSURep864
Moscow, Idaho
Member since Nov 2007
11239 posts
Posted on 1/29/21 at 8:20 am to
quote:

Yet magically the price has gone up.



The price has only come up since restrictions have been lifted. The bottom yesterday took place during the pause.

When most of these retail folks are buying on Robinhood, and they can't buy on robinhood, and can't get funds to another broker fast enough. The demand tanks artificially.


Now the price is taking off.
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18371 posts
Posted on 1/29/21 at 8:20 am to
quote:

Yet magically the price has gone up.


Nothing magical about it. This is a global phenomenon now. People all over the world are getting in on it.
Posted by STLhog
Dallas, TX
Member since Jan 2015
18836 posts
Posted on 1/29/21 at 8:20 am to
And that shorts are still busting arse to cover.

Theoretically a short in the US could cover on another exchange correct?
Posted by Upperdecker
St. George, LA
Member since Nov 2014
32740 posts
Posted on 1/29/21 at 8:21 am to
quote:

I think part of the squeeze has started, like picking up the lemon and rubbing it between your hands to loosen up the juices. We are probably at the part where we cut the lemon in half. All that is left is the squeezing. Probably won't happen today, but soon.


Yea I’m not disagreeing that there is more squeeze to go, just saying we’ve had some already. But the short interest remains nearly the same, meaning it will just keep going that much farther
Posted by Sao
East Texas Piney Woods
Member since Jun 2009
68469 posts
Posted on 1/29/21 at 8:21 am to
LINK

Here's just a taste. But it was 6 minutes of wrecking shop.
Posted by teke184
Zachary, LA
Member since Jan 2007
103135 posts
Posted on 1/29/21 at 8:22 am to
You are still dealing with a stock listed on Nasdaq so I’m not sure you can officially trade it on another exchange.

Still doesn’t stop foreign brokers who sit on the markets in Germany, Japan, or elsewhere from trying to get involved here because they smell blood in the water.
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18371 posts
Posted on 1/29/21 at 8:22 am to
quote:

there is more squeeze to go,


Infinite squeeze to go. That’s why talking heads on CNBC are now calling on regulators to step in and out a stop to this
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18371 posts
Posted on 1/29/21 at 8:23 am to
quote:

You are still dealing with a stock listed on Nasdaq so I’m not sure you can officially trade it on another exchange


You can and foreigners have. That’s why you keep seeing a price rise over night
Posted by teke184
Zachary, LA
Member since Jan 2007
103135 posts
Posted on 1/29/21 at 8:23 am to
If the funds take their losses, it doesn’t happen.

Them continuing to push their position thinking they are too big to fail WILL cause this to happen.
Posted by boomtapp
Houston, Tejas
Member since Nov 2007
748 posts
Posted on 1/29/21 at 8:24 am to
Good luck today boys and girls.

Diamond hands.
Posted by KickPuncher
Member since Jun 2020
754 posts
Posted on 1/29/21 at 8:25 am to
quote:

you've taken a lot of heat in this thread but have gotten it completely right so far. the only thing no one could predict was RH shutting down buys yesterday

I actual like it when group think doesn't agree with me at times.

But yeah yesterday was crazy but it was all dirty tricks by them and I still got my calls expiring today. I was thinking hard at selling at end of day, but that would have gotten me $20k, but now that has about tripled this morning. I really just wanted to sell one contract (110 call), and then use that profit to exercise my other (80 call). I definitely am going to sell today though, at least that one.
Posted by Stiles
Member since Sep 2017
3454 posts
Posted on 1/29/21 at 8:25 am to
T -4 minutes to launch
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18371 posts
Posted on 1/29/21 at 8:25 am to
quote:

If the funds take their losses, it doesn’t happen.


That was true maybe a few weeks ago, now they are being held by the balls. They are likely unable to take their losses
Posted by TDsngumbo
Member since Oct 2011
49188 posts
Posted on 1/29/21 at 8:27 am to
QUICK -- $1,000 in GME or AMC??? I need to know now
Posted by Corporal Beavis
Member since Aug 2013
1298 posts
Posted on 1/29/21 at 8:27 am to
SNDL
Posted by PhiTiger1764
Lurker since Aug 2003
Member since Oct 2009
14469 posts
Posted on 1/29/21 at 8:28 am to
Good luck boys. Diamond hands. Gtfo gay bears. Sorry you didn’t get in on the fun..
Posted by teke184
Zachary, LA
Member since Jan 2007
103135 posts
Posted on 1/29/21 at 8:28 am to
Which means the brokers have to cover the losses. Which means that the government has to cover the broker’s losses when they fold.


Cash them out, ban them from ever trading securities again, and don’t forget to pay the lady.

The US taxpayer is already fricked anyway so what different does it make that it is going to a bunch of investors who broke the hedge funds?
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 1/29/21 at 8:28 am to
Final systems check. All parties check in.
Posted by STLhog
Dallas, TX
Member since Jan 2015
18836 posts
Posted on 1/29/21 at 8:28 am to
GME is a much better bet.

But its a bet at this point, keep that in mind.
Posted by Upperdecker
St. George, LA
Member since Nov 2014
32740 posts
Posted on 1/29/21 at 8:28 am to
This thread is WSB now
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