Gamestop stock situation - anyone else in on this?

[Panther'sBigD]

20 hours ago, Happy Panther said:

My question is is it sustainable? It doesn't seem like it but this could represent a watershed event in how trading is done. 

I think once the mob realizes paper gains are paper gains until you sell this will crash. 

That's the beauty of the WSB degenerates...they already know this and the majority of them don't care. To many of them this is a kamikaze mission. 

[Happy Panther]

That subreddit was locked for an hour or so. It's up and active as of now.

[Panther'sBigD]

1 minute ago, Happy Panther said:

That subreddit was locked for an hour or so. It's up and active as of now.

Good. Everyone deserves to enjoy those awesome GME memes they're churning out. 

[KSpan]

1 hour ago, Khyber53 said:

Stocks outside of buy and hold is just a big monetary game of hot potato. Sooner or later the music stops and you get burned. 

Maybe this is really a good thing to happen to the market.

This is definitely a trip to the stock casino. At the moment though we're winning big and the house isn't happy about it.

[Happy Panther]

[Ja Rhule]

7 minutes ago, Happy Panther said:

Dropped to $130 already.  Someone made a ton of money.

[Happy Panther]

I bought puts at $110 and again at $280

[Ja Rhule]

1 minute ago, Happy Panther said:

I bought puts at $110 and again at $280

You deserve to treat yoself to something nice

[KSpan]

And back up to over 300 a bit ago.. this is crazy. Also major BS that brokers were (are still?) shutting off buying.

Edited January 28, 2021 by KSpan

[Happy Panther]

19 minutes ago, KSpan said:

And back up to over 300 a bit ago.. this is crazy. Also major BS that brokers were (are still?) shutting off buying.

I am reading that Robinhood essentially rents space from Citadel and Citadel said they won't allow buying of GME.

Also I bought a share of GME on Ameritrade today when it was reported they were blocking GME buys.

[Khyber53]

2 hours ago, KSpan said:

This is definitely a trip to the stock casino. At the moment though we're winning big and the house isn't happy about it.

The house always wins in the end. Vegas wasn't built on winners.

 

In all honesty, though, this is a good thing. A group of minor, wee minor, players got involved together to push the game in their favor and the big money players never saw it coming and didn't understand it when it did. Here's why it is good: Our system isn't rigged.

That's right, our system isn't rigged. It does, however, have a byzantine set of rules, opportunities and pitfalls that have come to be exploited by those who have the money to fund massive research not just in companies and investment vehicles, but to research the underlying math, laws and game theory (heck even chaos theory) to get every edge possible. They then have the funding at hand to make massive investments where their profits are just pennies per unit, but create ongoing profits. Those moves and manipulations use billions to make millions every day creating virtual money machines.

Moves like the Gamestop/AMC one can put a quake in the market. Nothing as financially devastating as the mortgage meltdown (and yeah, those big funds were the movers behind that), but something to make them take stock (no pun intended).

Shake 'em up. Run a couple of the bad ones into the ground. It's sometimes important to harpoon a whale or two.

 

Edited January 28, 2021 by Khyber53

[Mol3m4n]

Class action lawsuit is incoming.

[Mol3m4n]

6 minutes ago, Happy Panther said:

I am reading that Robinhood essentially rents space from Citadel and Citadel said they won't allow buying of GME.

Also I bought a share of GME on Ameritrade today when it was reported they were blocking GME buys.

Hold until Tuesday or Wednesday.

[Happy Panther]

1 minute ago, Mol3m4n said:

Hold until Tuesday or Wednesday.

why?