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Started By
Message
re: So I bought some Gamestop(GME)
Posted on 2/2/21 at 3:42 pm to Chucktown_Badger
Posted on 2/2/21 at 3:42 pm to Chucktown_Badger
quote:
Didn't he make his buy late last year?
He’s been in for well over a year
0
Posted on 2/2/21 at 3:47 pm to 13SaintTiger
quote:
Can you at least acknowledge the buying halt is what prevented the squeeze?
I'm over GME in general, but my understanding is that the squeeze was over by then. It had been happening for a few weeks before it. Thus the huge run up.
Posted on 2/2/21 at 3:52 pm to Chucktown_Badger
quote:
but my understanding is that the squeeze was over by then.
So now the squeeze ended on Wednesday?
Posted on 2/2/21 at 3:53 pm to Chucktown_Badger
quote:
but my understanding is that the squeeze was over by then.
The squeeze was never truly allowed to happen. You can attribute the price increase to retail popularity more than a short squeeze. You saw how it trickled over to other equities (amc, bb, nakd, etc). Just as slackster said, in a short squeeze, the shorts will have to naturally take over. Short squeezes don’t last weeks. There were a few gamma squeezes but the short squeeze was starting last Wednesday/Thursday and never truly came to fruition.
Posted on 2/2/21 at 3:56 pm to 13SaintTiger
I thought I saw a few pages back that shorts were down to 36%. If that's true, and that's not evidence of the squeeze, then I don't know what is. Remember all that talk of hedge funds losing 10s of billions of dollars? That was the short squeeze. Those funds with more exposure were out last week at huge losses.
quote:
Hedge fund Melvin Capital Management lost 53% in January amid a record rally in GameStop, which the fund was betting against.
The heavy losses comes as retail investors piled into popular hedge fund short targets, including the struggling video game retailer.
Shares of GameStop finished last week 400% higher, bringing its total gain this year to 1,625%.
quote:
CNBC’s Andrew Ross Sorkin reported last week that Melvin Capital closed out its short position in GameStop on Tuesday afternoon after sustaining heavy losses.
This post was edited on 2/2/21 at 3:59 pm
Posted on 2/2/21 at 4:06 pm to Chucktown_Badger
quote:
I thought I saw a few pages back that shorts were down to 36%
Reports said that happened Thursday and Friday. Coincidently when there was a buying halt.
quote:
Remember all that talk of hedge funds losing 10s of billions of dollars? That was the short squeeze.
As I just mentioned, most reports say short sellers covered Thursday and Friday. In a short squeeze, when short sellers cover they dramatically increase the price of the stock, it’s not a steady over time increase. When buying was halted it allowed short sellers to cover at a lower price point without increasing the price of the stock because A) I’m sure there were paper hands B) FUD C) institutional investors trading back and forth with each other to Lowe’s price points which creates FUD for retail investors D) No new buys.
Again, I stand by that the price increase over the past few weeks was retail popularity. No one really covered prior to last week because SI% grew and you would’ve seen dramatic price increases, not a steady growth which shows it was popularity. I’m sure institutions thought it would end and when Thursday came they thanked the Lord above.
Posted on 2/2/21 at 4:12 pm to 13SaintTiger
S3 & Ortex still show >50% of float. And that's likely conservative due to mitigation by hedge funds who are in the red. Trading volume since the RH halt last week has been peanuts. Think it's doubtful shorts have covered as also evidenced by the consecutive failure to deliver days.
Posted on 2/2/21 at 4:15 pm to xXLSUXx
It is probably fair to say that those shorts we're seeing now are in the range of $350 and not sub-$10, like at the beginning of this thing?
Posted on 2/2/21 at 4:15 pm to xXLSUXx
quote:
S3 & Ortex still show >50% of float.
Didn’t they conveniently adjust how they analyze float?
quote:
And that's likely conservative due to mitigation by hedge funds who are in the red. Trading volume since the RH halt last week has been peanuts. Think it's doubtful shorts have covered as also evidenced by the consecutive failure to deliver days.
I’m just giving all of the “I told you so” folks the benefit of the doubt that shorts were covered.
Posted on 2/2/21 at 4:16 pm to BobRoss
quote:
can't believe DFV is still holding. Kinda retarded...
Anyone taking investment advice from the clowns at wsb is a retard
Posted on 2/2/21 at 4:19 pm to Chucktown_Badger
quote:
Didn't he make his buy late last year? If he gets out of all of this soon, he's still gonna be set for life and then some, but damn that short term capital gains tax.
Netflix already rushing to put plans in place to have a movie about Gamestop and wallstreetbets. I'd have to assume they will be interviewing him a bunch and may make a chunk of change from that as well.
This post was edited on 2/2/21 at 4:21 pm
Posted on 2/2/21 at 4:23 pm to oklahogjr
quote:
Anyone taking investment advice from the clowns at wsb is a retard
I mean DFV was the original investor well over a year ago. Dude made a Apr 2021 call back in 2019 and it’s paying off big time. Probably feels great to be a clown.
Posted on 2/2/21 at 4:35 pm to JohnnyKilroy
quote:
So now the squeeze ended on Wednesday?
The original shorts were blasted. They were forced to cover into the rally and that helped drive the price into the $300-$400s.
If he stock rallied to $480 on Thursday morning as buying was still allowed and then cratered once RH and others halted buying. I’m convinced now, and I said then, that was it. It was proof to me the original shorts were out and the squeeze was over. It was simply retail investors playing musical chairs and burying their heads in the sand.
Posted on 2/2/21 at 5:03 pm to slackster
GME is still 122% short.
And I’m not here propping anything up. I got out when the getting out was good.
And I’m not here propping anything up. I got out when the getting out was good.
Posted on 2/2/21 at 5:12 pm to Pintail
quote:
GME is still 122% short.
I thought it was less than that, but I guess what is the average short price? The game has changed....they're no longer short at $6 a share.
Posted on 2/2/21 at 5:37 pm to rocket31
quote:
quote: , guess shorting now, IF you are into shorting would be “reasonable.” I do not think that's a reasonable play at all brother but let us know how it goes This
Did you get out in time?
Posted on 2/2/21 at 6:14 pm to Pintail
quote:
GME is still 122% short.
Which tells you nothing, and I question that number in the first place.
Being short GME at $300 is a lot different than being short GME @ $20. That seems to get lost on a lot of people.
Posted on 2/4/21 at 1:59 pm to slackster
There’s a point here where GME actually becomes a value stock again. I think it’s around $25, but one of the guys I follow has done some really good DD on GME and believes it’s about $60 and below
Posted on 2/4/21 at 2:14 pm to Upperdecker
Anybody still holding 
Diamond Hands
Diamond Hands
Posted on 2/4/21 at 2:20 pm to DiamondDog
Not holding but considering a buy in at some point. Likely going to wait for a significant volatility reduction though
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