Taffin Posted January 28, 2021 Share Posted January 28, 2021 17 minutes ago, Maple Leaf said: Nothing wrong with being risk averse, and a factor is your age. Older people should be more cautious as you might not have enough time to recover from a severe downturn. But a younger person has time on his side. Markets have always recovered from a drop in the past, so if you can be patient and wait it out, you will recover your losses (which were only paper losses in the first place). Good advice. I'm moderately young so maybe I should be a bit bolder. Probably true for many aspects of my life in fairness. Quote Link to comment Share on other sites More sharing options...
Norm Posted January 28, 2021 Share Posted January 28, 2021 14 minutes ago, Justin Z said: Just a reminder too if you're feeling any sympathy... It's people like this. Who were looking down at the Occupy Wall Street protesters in 2008 I think one of the best things about this is it shows that younger folk, and especially younger Americans, are finally twigging the games up the pole. The whole thing is ****ed and set up to make money for those who already have it, with the added benefit of screwing the poor even more. Wall Street is pretty much the reason wealth disparity is so high. Watching it burn to the ground would be most pleasing. Quote Link to comment Share on other sites More sharing options...
JackLadd Posted January 28, 2021 Share Posted January 28, 2021 About time these parasites were burned. Quote Link to comment Share on other sites More sharing options...
jamboy1982 Posted January 28, 2021 Share Posted January 28, 2021 I have cashed in. Bought at 300 sold at 450. Demand is so high I got 450 when the actual price was 380. I set a take profit limit. Tasty wee profit to start the year off! Quote Link to comment Share on other sites More sharing options...
jamboy1982 Posted January 28, 2021 Share Posted January 28, 2021 Glad I got out when I did cos it is tanking big time!! Quote Link to comment Share on other sites More sharing options...
Norm Posted January 28, 2021 Share Posted January 28, 2021 It's proper tanking. Which just goes to show how rigged it is. Too many funds losing money? Just stop the trading of shares. It's a ****ing disgrace. Quote Link to comment Share on other sites More sharing options...
Justin Z Posted January 28, 2021 Share Posted January 28, 2021 I am holding because I want to see if we manage to come together to win out over this blatant cheating and manipulation. Quote Link to comment Share on other sites More sharing options...
Smack Posted January 28, 2021 Share Posted January 28, 2021 13 minutes ago, Justin Z said: I am holding because I want to see if we manage to come together to win out over this blatant cheating and manipulation. Isn't the tank something to do with short positions having interest calculated tomorrow (Friday) and the hedge funds are driving down the price with jiggery pokery/ dark arts/magic ahead of this? I'm involved for peanuts just for the fun of it, but only have a very cursory understanding of the mechanics. Quote Link to comment Share on other sites More sharing options...
Norm Posted January 28, 2021 Share Posted January 28, 2021 16 minutes ago, Justin Z said: I am holding because I want to see if we manage to come together to win out over this blatant cheating and manipulation. Good for you. It's a ****ing disgrace. Especially when you consider Citadel, the parent fund of Melvin, own and have contracts with the Robin Hood app. And now all of a sudden Robin Hood are preventing the purchase of stocks? I hate these ***** even more now. Quote Link to comment Share on other sites More sharing options...
Dean Winchester Posted January 28, 2021 Share Posted January 28, 2021 5 minutes ago, Smack said: Isn't the tank something to do with short positions having interest calculated tomorrow (Friday) and the hedge funds are driving down the price with jiggery pokery/ dark arts/magic ahead of this? I'm involved for peanuts just for the fun of it, but only have a very cursory understanding of the mechanics. It's also because a lot of major brokers are refusing to accept buys. So retailers can't buy at the lower price but are allowed to sell.... RobinHood being the main one... Not that they have any ties to one of the hedge funds that has been involved in the shorts... Quote Link to comment Share on other sites More sharing options...
Smack Posted January 28, 2021 Share Posted January 28, 2021 (edited) 4 minutes ago, Dean Winchester said: It's also because a lot of major brokers are refusing to accept buys. So retailers can't buy at the lower price but are allowed to sell.... RobinHood being the main one... Not that they have any ties to one of the hedge funds that has been involved in the shorts... So jiggery pokery then 😁 I use etoro for my.... ehhhh..portfolio which runs into the tens of pounds, and no problems buying there. Edited January 28, 2021 by Smack Quote Link to comment Share on other sites More sharing options...
Mr Elwood P Posted January 28, 2021 Share Posted January 28, 2021 8 hours ago, Governor Tarkin said: Flats, my good chap. Flats. During the 2008 slump an average 1 bed in Gorgie dropped from ~ 110k to ~ 70k, which was still almost double the price from the turn of the millenium. Sitting at around 130k now. Have your wad at the ready. 👍 I expected the house prices to crash last year during the initial months of the pandemic. Seem to have been steadily rising and continuing to do so? Quote Link to comment Share on other sites More sharing options...
Governor Tarkin Posted January 28, 2021 Share Posted January 28, 2021 (edited) 18 minutes ago, Mr Elwood P said: I expected the house prices to crash last year during the initial months of the pandemic. Seem to have been steadily rising and continuing to do so? They have. Trying to find a house for the father in law at the moment and he's getting outbid all over the place by silly money. Still, when furlough ends and Brexit bites we might see a sizeable price drop in certain sections of the market when folk start losing their homes. The predators will be circling to cash in on the misery. Edited January 28, 2021 by Governor Tarkin Quote Link to comment Share on other sites More sharing options...
Dean Winchester Posted January 28, 2021 Share Posted January 28, 2021 More brokers stopping buys including eToro who say that they've been forced to based on their liquidity provider. Whole thing stinks Quote Link to comment Share on other sites More sharing options...
Smack Posted January 28, 2021 Share Posted January 28, 2021 Just read a bit more, the US websites and trading apps for casual traders really are openly manipulating the market by preventing anyone from buying at all and only allowing them to sell. Sometimes I think the corrupt elite thing is a bit overblown but this really brings it home to roost. Like I say I'm only in for sweeties and just so I can say I was, but it's pretty shabby. Quote Link to comment Share on other sites More sharing options...
Justin Z Posted January 28, 2021 Share Posted January 28, 2021 19 minutes ago, Smack said: Just read a bit more, the US websites and trading apps for casual traders really are openly manipulating the market by preventing anyone from buying at all and only allowing them to sell. Sometimes I think the corrupt elite thing is a bit overblown but this really brings it home to roost. Like I say I'm only in for sweeties and just so I can say I was, but it's pretty shabby. I think in a lot of people's opinion, it's criminal. But not the people who get to decide whether we prosecute it as such. Quote Link to comment Share on other sites More sharing options...
Justin Z Posted January 28, 2021 Share Posted January 28, 2021 Now reports that Robinhood is selling people's stock off without their permission Quote Link to comment Share on other sites More sharing options...
Captain Sausage Posted January 28, 2021 Share Posted January 28, 2021 The open manipulation by the hedge funds and establishment is disgusting. Most retail apps have blocked new share purchases, but sell option remains. Why? The hedge funds are colluding to drop the price by selling at a small loss several times. As the share price drops, it incentivises people to sell up and get out, further dropping the price. The lack of capital injection and the artificial price drops coupled with panic selling are what is causing the drops. These drops are minimising the exposure of the hedge funds - if the share price when the short is called is $50 instead of $500, Melvin and otherwise will have saved $20bn. The overt manipulation of the market, facilitated by the media, is an absolute travesty. It makes me properly angry to watch. Quote Link to comment Share on other sites More sharing options...
Captain Sausage Posted January 28, 2021 Share Posted January 28, 2021 10 minutes ago, Justin Z said: Now reports that Robinhood is selling people's stock off without their permission The sad thing is that any fine or punishment handed out for this manipulation will be peanuts compared to the consequence of them not intervening. Quote Link to comment Share on other sites More sharing options...
Justin Z Posted January 28, 2021 Share Posted January 28, 2021 (edited) 2 minutes ago, Captain Sausage said: The sad thing is that any fine or punishment handed out for this manipulation will be peanuts compared to the consequence of them not intervening. 100%. It should expose them to criminal liability and liability for punitive civil damages both for them and for anyone they were found to be colluding with. None of that will happen, because that's not the world we live in. Edited January 28, 2021 by Justin Z Quote Link to comment Share on other sites More sharing options...
Norm Posted January 28, 2021 Share Posted January 28, 2021 9 minutes ago, Justin Z said: 100%. It should expose them to criminal liability and liability for punitive civil damages both for them and for anyone they were found to be colluding with. None of that will happen, because that's not the world we live in. If I knew how, I'd start looking at shorting Robinhood because there's a **** ton of folk who will drop it like it a hot potato after this which you would expect to drop the share price. People are pissed. Quote Link to comment Share on other sites More sharing options...
Des Lynam Posted January 28, 2021 Share Posted January 28, 2021 If you have the interest and time I’d suggest reading this... Quote Link to comment Share on other sites More sharing options...
Bindy Badgy Posted January 28, 2021 Share Posted January 28, 2021 Hell has frozen over Quote Link to comment Share on other sites More sharing options...
Dean Winchester Posted January 28, 2021 Share Posted January 28, 2021 (edited) 1 minute ago, Stokesy said: Hell has frozen over Haha check her reply to him though 😂 Edited January 28, 2021 by Dean Winchester Quote Link to comment Share on other sites More sharing options...
Bindy Badgy Posted January 28, 2021 Share Posted January 28, 2021 1 minute ago, Dean Winchester said: Haha check her reply to him though 😂 Quote Link to comment Share on other sites More sharing options...
Norm Posted January 28, 2021 Share Posted January 28, 2021 6 minutes ago, Stokesy said: Hell has frozen over Even Ben Shapiro and Trump Jr are having a pop at this. It almost makes me feel uneasy and has me questioning whether I'm backing the right horse. Quote Link to comment Share on other sites More sharing options...
Justin Z Posted January 28, 2021 Share Posted January 28, 2021 5 minutes ago, Norm said: Even Ben Shapiro and Trump Jr are having a pop at this. It almost makes me feel uneasy and has me questioning whether I'm backing the right horse. Ultimately the vast majority of politicians and media personalities are there to defend the billionaire class, which is how and why things got to this point in the first place. They will tie themselves in knots convincing themselves they work for the benefit of the people, but even they have their limits. We seem to have crossed over one of them. Quote Link to comment Share on other sites More sharing options...
Justin Z Posted January 28, 2021 Share Posted January 28, 2021 I don't know who this is, but I'm pretty sure I love them. Quote Link to comment Share on other sites More sharing options...
NANOJAMBO Posted January 28, 2021 Author Share Posted January 28, 2021 1 hour ago, Justin Z said: I don't know who this is, but I'm pretty sure I love them. I just read it on Imgur - very powerful : I'm poor, Ive always been poor and I will always be poor. Now it's payback time. Interestingly (also on Imgur) https://imgur.com/gallery/wlsRG3Y There seems to be a suggestion that while Wall St wants to blame redditors for this , actually Wall St was helping Wall St burn when the big bucks were being made. The revolution eats its children. Long may it continue. Quote Link to comment Share on other sites More sharing options...
NANOJAMBO Posted January 28, 2021 Author Share Posted January 28, 2021 1 hour ago, Norm said: Even Ben Shapiro and Trump Jr are having a pop at this. It almost makes me feel uneasy and has me questioning whether I'm backing the right horse. Except Trump used the usual conspiracy tropes of "big govt, big tech" to stir the pot. Quote Link to comment Share on other sites More sharing options...
Bindy Badgy Posted January 28, 2021 Share Posted January 28, 2021 (edited) 28 minutes ago, NANOJAMBO said: There seems to be a suggestion that while Wall St wants to blame redditors for this , actually Wall St was helping Wall St burn when the big bucks were being made. The revolution eats its children. Long may it continue. I would be surprised if people that spend all day shitposting on an internet message board have enough capital to move the market. The guy that instigated their activity has put ~$50k in, which is a tiny amount compare to what the financial institutions invest, and he's probably in as deep as anyoneon Reddit. The big money is probably coming from financial institutions that also spotted the opportunity. They'll be going about their business quietly. Edited January 28, 2021 by Stokesy Quote Link to comment Share on other sites More sharing options...
gjcc Posted January 28, 2021 Share Posted January 28, 2021 Been following WSB now for a while. Done well off the back of some of their “meme stocks” (Nio, Palantir & BB) since June. Bought into GME at $21 and sold at $277 (first opportunity when the trading platforms were being iffy yesterday). Well below the high but well above the low. More than makes up for the slight knock my ETF took yesterday. Now seeing the nonsense Wall Street have allowed/helped happen with overt market manipulation I’ll probably keep away for a bit, other than paying into my ETF. Quote Link to comment Share on other sites More sharing options...
Zico Posted January 28, 2021 Share Posted January 28, 2021 While this has been quite entertaining, remember that there are two sides on a short. And while some hedge funds will have taken a hit, meanwhile, at the world’s two largest fund managers... BlackRock and Vanguard appear to have reaped sizable gains on this week's crowd-sourced rally of GameStop shares. BlackRock’s funds collectively owned about 9.2 million shares at year-end, positioning them for a $2.4 billion gain since then, according to a Reuters analysis. Vanguard, meanwhile, held roughly 4.2 million shares at year-end, translating to a $1.38 billion appreciation, according to Bloomberg data cited by the Philadelphia Business Journal. Quote Link to comment Share on other sites More sharing options...
Mad Dog Logan Posted January 29, 2021 Share Posted January 29, 2021 For anyone interested I was still able to buy shares in GameStop on Revolut yesterday afternoon, only bought $200 worth but now worth $280. Quote Link to comment Share on other sites More sharing options...
Dean Winchester Posted January 29, 2021 Share Posted January 29, 2021 Freetrade is another I've seen that doesn't seem to be restricting as quite easy to verify and deposit. Going to be an interesting day Quote Link to comment Share on other sites More sharing options...
Smack Posted January 29, 2021 Share Posted January 29, 2021 2 hours ago, Dean Winchester said: Freetrade is another I've seen that doesn't seem to be restricting as quite easy to verify and deposit. Going to be an interesting day It is. One of the things that catches my eye is the comparisons to a previous short squeeze on VW. Can't help but think the two are different in that VW makes stuff and has actual value. GameStop really is just a pile of old shite by many accounts 😁 Whatever happens, it's a pretty interesting story...you just know the movie will get made sooner or later. Quote Link to comment Share on other sites More sharing options...
Smack Posted January 29, 2021 Share Posted January 29, 2021 19 hours ago, Norm said: If I knew how, I'd start looking at shorting Robinhood because there's a **** ton of folk who will drop it like it a hot potato after this which you would expect to drop the share price. People are pissed. I've seen the idea tossed about. They aren't listed yet, but an IPO was in the pipeline. Some people are suggesting that that can be shorted if it does materialise. Definitely not something I'll be getting involved in, my nerves are jangling enough simply from buying about 1/10th of a share 😁 Quote Link to comment Share on other sites More sharing options...
Norm Posted January 29, 2021 Share Posted January 29, 2021 35 minutes ago, Smack said: I've seen the idea tossed about. They aren't listed yet, but an IPO was in the pipeline. Some people are suggesting that that can be shorted if it does materialise. Definitely not something I'll be getting involved in, my nerves are jangling enough simply from buying about 1/10th of a share 😁 I thought yesterday was the beginning of the end with the blocking of purchases, but the price is back up in the 300s again. I think the little guy actually might pull this off. The one thing that might be a drawback is folk jumping on the bandwagon, and thinking r/Wallstreetbets is a good place to go for investment advice. It appears to be full of nutters who just like a punt with the odd scattering of folk may actually know what they are doing, and like any group of gamblers, some make it big on a great tip and some lose loads on a shite one. Quote Link to comment Share on other sites More sharing options...
Dean Winchester Posted January 29, 2021 Share Posted January 29, 2021 17 minutes ago, Norm said: I thought yesterday was the beginning of the end with the blocking of purchases, but the price is back up in the 300s again. I think the little guy actually might pull this off. The one thing that might be a drawback is folk jumping on the bandwagon, and thinking r/Wallstreetbets is a good place to go for investment advice. It appears to be full of nutters who just like a punt with the odd scattering of folk may actually know what they are doing, and like any group of gamblers, some make it big on a great tip and some lose loads on a shite one. I mean that's exactly what the group is It's a lot calmer than yesterday anyway. Curious to see what happens... Doesn't seem to be as many people buying though and also not nearly as many or as big dips. I have no idea what that means Quote Link to comment Share on other sites More sharing options...
Dusk_Till_Dawn Posted January 29, 2021 Share Posted January 29, 2021 Good fun this. Just goes to show, if the right people are making money then no-one bats an eyelid. Hedge funds are mostly leeches. They can all go bankrupt and I wouldn’t even look up from my paper Quote Link to comment Share on other sites More sharing options...
Footballfirst Posted January 29, 2021 Share Posted January 29, 2021 45 minutes ago, Dusk_Till_Dawn said: Good fun this. Just goes to show, if the right people are making money then no-one bats an eyelid. Hedge funds are mostly leeches. They can all go bankrupt and I wouldn’t even look up from my paper Agreed. They cannot make money in a stable stock market, therefore they generate movement in stocks either up or down to suit their needs, even when there is no change in the financial status of the companies that they choose to deal in. Shorting stocks, then feeding unjustified negative comments about a company onto discussion platforms, to prompt investors to sell a particular stock, is unethical and should be banned. Quote Link to comment Share on other sites More sharing options...
Cade Posted January 29, 2021 Share Posted January 29, 2021 Hedge Funds are not investors. They're gamblers. Quote Link to comment Share on other sites More sharing options...
Bindy Badgy Posted January 29, 2021 Share Posted January 29, 2021 (edited) 3 hours ago, Norm said: I thought yesterday was the beginning of the end with the blocking of purchases, but the price is back up in the 300s again. I think the little guy actually might pull this off. The one thing that might be a drawback is folk jumping on the bandwagon, and thinking r/Wallstreetbets is a good place to go for investment advice. It appears to be full of nutters who just like a punt with the odd scattering of folk may actually know what they are doing, and like any group of gamblers, some make it big on a great tip and some lose loads on a shite one. The guy that has been predicting this for 6-12 months (Deep****ingvalue) seems to be clued up. He did his due diligience and went for it. The rest of them seem to be a bunch of lunatics that treat investing in the same way that I treat putting a tenner on the football. This has been good entertainment and I'm half considered going along for the ride myself. However, it is not a solid financial decision for the overwhelming majority of people. Edited January 29, 2021 by Stokesy Quote Link to comment Share on other sites More sharing options...
Worthing Jambo Posted January 29, 2021 Share Posted January 29, 2021 https://www.bloomberg.com/news/features/2018-06-25/brexit-big-short-how-pollsters-helped-hedge-funds-beat-the-crash?utm_source=url_link Quote Link to comment Share on other sites More sharing options...
Norm Posted January 29, 2021 Share Posted January 29, 2021 5 minutes ago, Stokesy said: The guy that has been predicting this for 6-12 months (Deep****ingvalue) seems to be clued up. He did his due diligience and went for it. The rest of them seem to be a bunch of lunatics that treat investing in the same way that I treat putting a tenner on the football. This has been good entertainment and I'm half considered going along for the ride myself. However, it is not a solid financial decision for the overwhelming majority of people. Yeah, but for every DFV fella, there's one's like the eedjit who somehow managed to both bet short and long on the same stock and ended up ****ing himself and owing £250,000. I think that's the major danger in wallstreetbets, there's clearly folk who do know their stuff, but also utter madmen too. And for the random Joe off the street who's now going to head over to WSB, there's every chance they follow the madmen instead of the clued up ones. It's been great to follow though. A bunch of folk who appear to be even madder than the lunatics in this place, rinsing twats for billions. It's epic. Quote Link to comment Share on other sites More sharing options...
NANOJAMBO Posted January 30, 2021 Author Share Posted January 30, 2021 Well it made me laugh https://imgur.com/gallery/eXQunKo Quote Link to comment Share on other sites More sharing options...
Cade Posted January 30, 2021 Share Posted January 30, 2021 https://en.wikipedia.org/wiki/Onion_Futures_Act Quote Link to comment Share on other sites More sharing options...
Smack Posted January 30, 2021 Share Posted January 30, 2021 6 hours ago, Footballfirst said: Shorting stocks, then feeding unjustified negative comments about a company onto discussion platforms, to prompt investors to sell a particular stock, is unethical and should be banned. This is the antidote. They can't continue to do this if they know the self styled "retards" (their own words) can swoop at any time. It's been really interesting reading up on it all. It seems like identifying the stocks which are massively shorted is the easy part. A Google search will give you that information. Also they (the funds) have people publicly talking down the stock - that 'information' gathers momentum and becomes gospel. The most difficult bit is organising people (private individuals) to buy and hold the stock, which turned out to be not that difficult at all 😁 The hedge funds can complain and they'll probably get the rules changed in their favour, but this couldn't have happened if they hadn't taken such extreme positions. And they will be wary of doing so again, you'd hope. I'm new to all this chat, but that's my simplistic understanding, very happy to be corrected. Quote Link to comment Share on other sites More sharing options...
Smack Posted January 30, 2021 Share Posted January 30, 2021 The highlighted numbers are the key ones in this case (as far as I understand it). The Short Interest can be obtained more regularly, you'll see that in the screenshot it's dated 15th January. Quote Link to comment Share on other sites More sharing options...
Justin Z Posted January 30, 2021 Share Posted January 30, 2021 😢 ✊ Quote Link to comment Share on other sites More sharing options...
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