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Started By
Message
re: So I bought some Gamestop(GME)
Posted on 1/27/21 at 11:49 am to Dawgsontop34
Posted on 1/27/21 at 11:49 am to Dawgsontop34
Low blow
2
Posted on 1/27/21 at 11:49 am to TheChosenOne
Regardless of where you sit on this, this "they're worried about the little guy narrative" is truly sickening
Posted on 1/27/21 at 11:51 am to castorinho
quote:
Regardless of where you sit on this, this "they're worried about the little guy narrative" is truly sickening
The "little guy" is fricking making bank right now. Essentially taking billions of dollars and transferring it from hedge funds who overexposed themselves, to the little guy. This is potentially the biggest thing that has happened in the history of the market for regular people.
But he's using the "we have to protect people" as a bullshite talking point to in reality protect Wall St hedge funds.
This post was edited on 1/27/21 at 11:53 am
Posted on 1/27/21 at 11:51 am to castorinho
"Be on the right side of history" 
Posted on 1/27/21 at 11:51 am to castorinho
quote:
Regardless of where you sit on this, this "they're worried about the little guy narrative" is truly sickening
Absolutely. It’s the same reaction to Donald Trump early on (2016). The powers at be are never threatened, they control everything. The people aren’t allowed to play their game and win. Politics is controlled by the powers at be, as is the market. Money and power are consolidated within a few small groups relatively. Trump threatened to break that up, and now retail investors are threatening to break that up
Posted on 1/27/21 at 11:51 am to Upperdecker
I'm moving to cali and voting for chamath
Posted on 1/27/21 at 11:52 am to Upperdecker
quote:
Upperdecker
He has a national championship since 1980 and a solid gain on GME. I’ll make that trade with him
Posted on 1/27/21 at 11:56 am to Dawgsontop34
Posted on 1/27/21 at 11:58 am to Dawgsontop34
The one thing I wanted more from chamath is to say that it IS trading on a type of fundamental.
Is it not fundamental that there are groups of people who have placed themselves in a position in which they HAVE TO BUY GME no matter the price at some point down the line.
If I hold X and it's the only X in the world, and 20 people MUST buy that X, then X is fundamentally worth whatever I say.
Is it not fundamental that there are groups of people who have placed themselves in a position in which they HAVE TO BUY GME no matter the price at some point down the line.
If I hold X and it's the only X in the world, and 20 people MUST buy that X, then X is fundamentally worth whatever I say.
Posted on 1/27/21 at 12:00 pm to SCUBAislander
Still worth buying? I have $3500 in an Ameriprise account that I forgot about. Money is burning a hole in my pocket as I watch this.
Posted on 1/27/21 at 12:00 pm to Chucktown_Badger
quote:Protect them from making millions?
But he's using the "we have to protect people" as a bull shite talking point to in reality protect Wall St hedge funds.
frick them
Posted on 1/27/21 at 12:01 pm to SCUBAislander
hes the dude i learned options from 
Posted on 1/27/21 at 12:01 pm to JohnnyKilroy
My uneducated arse is in on GME at $294.17. My question is what can happen after hours? I am okay with taking profits before the end of today, but is it possible to have a huge dropoff after hours? What can cause that?
I know there is no crystal ball obviously, just asking for an opinion with more knowledge than myself.
I know there is no crystal ball obviously, just asking for an opinion with more knowledge than myself.
Posted on 1/27/21 at 12:01 pm to JohnnyKilroy
Alright. I yolo’d in with a call after balking last Friday. It was fricking expensive. Hopefully this is not the top. Let’s ride!
Posted on 1/27/21 at 12:04 pm to Chucktown_Badger
quote:
Essentially taking billions of dollars and transferring it from hedge funds who overexposed themselves, to the little guy.
I don't think that is what is happening. Hedgefunds are losing bigly but that money they are losing isn't going into all the pockets of the little guy.
There will be a few little guys who sell off and make bank but for it to work, the vast majority have to hold the line and not sell. They'll be stuck with stocks they can only sell at a loss. So the little guy still ends up paying but the hope is at least a statement is made during the process.
Posted on 1/27/21 at 12:06 pm to slinger1317
we do not know what percentage of shorts remain.. it's guess work. if there are still a lot and the stock price closes higher than yesterday, you're in a great position
Posted on 1/27/21 at 12:09 pm to rocket31
Hopefully someone else gets liquidated at the close this afternoon. Another 130-150% in the AH. This could still get uglier.
Posted on 1/27/21 at 12:11 pm to Huge Richard
quote:
At the end of the day, people are in it for the money, no matter which side you’re on.
Yes, that’s true. But especially in situations like this, taking your profits or exiting positions (especially with options) isn’t as simple or cut & dried as it normally is.
For instance, would you want to sell/exit an ITM call position for $90 if it was $100 ITM... just because the market maker has a severe order imbalance? And you can’t let it go to expiration because you don’t have enough capital to exercise the option and be long the stock. The best that’ll happen to you there is you’ll get a margin call and the stock won’t move against you while your brokerage is liquidating your position - which could lead to other issues for you, even if you make money on this singular trade.
What I do with derivatives is different than what most of you fellows are doing. But believe me, I’m pulling for all of you to make money. I’m just trying to caution you and encourage you to make sure you know how these markets deal with opening and closing positions. Get it figured out BEFORE expiration day. That’s all I’m saying.
GL to all.
Posted on 1/27/21 at 12:18 pm to ell_13
I don’t see anyone talking about this one. Hell of a day!
Posted on 1/27/21 at 12:21 pm to rocket31
Will GME short % be updated this evening?
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