OptOut | 8,883 Posted January 28, 2021 Share Posted January 28, 2021 All the more reason I suppose to be happy enough just watching from the sidelines. Those hedge fund guys thought they had it figured out, now they're toast, and undoubtedly a lot of people just jumping on the bandwagon are gonna get burned too. If I was involved in stocks at all, I'd much rather be a vanilla 7.5% returns guy like Gloves than risking it all on big swings... 2 Link to comment Share on other sites More sharing options...
DoctorEncore | 3,691 Posted January 28, 2021 Share Posted January 28, 2021 15 minutes ago, arch_8ngel said: The hedge funds are the major short positions. They aren't the people on the other side of the current buy-sell activity. BUT they ARE the people that potentially have to cover a massive amount of ITM call contracts on Friday (i.e. up to 15 million shares they may be required to purchase "at any price" if the calls are exercised) So what happens if they can't cover their calls? Does the stock plummet? I've heard that the really big hedge fund shorts have all covered at this point and gotten out. Link to comment Share on other sites More sharing options...
Deadeye | 1,596 Homebrew Team · Posted January 28, 2021 Share Posted January 28, 2021 @OptOuthere is a video about it. I can't speak for the accuracy, but it seems to explain the situation in easier terms. 1 Link to comment Share on other sites More sharing options...
Kguillemette | 1,544 Posted January 28, 2021 Share Posted January 28, 2021 The hedge funds that are getting crushed right now are simply going to be replaced by other hedge funds that are putting in fresh short positions right now. Even if all million people on wsb right now we're to dump their life savings into gme this week, some other hedge fund will have the funds to short and cover really soon. People can't keep mortgaging their house to buy gme forever! Shit, if the deepfucking value guy decides to cash in on his cool 50 mil tomorrow, there will be a bloodbath. I'm just a layman, but this is what the math is telling me will happen real fucking soon. And the hedge funds will win again. Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted January 28, 2021 Share Posted January 28, 2021 25 minutes ago, Kguillemette said: The hedge funds that are getting crushed right now are simply going to be replaced by other hedge funds that are putting in fresh short positions right now. Even if all million people on wsb right now we're to dump their life savings into gme this week, some other hedge fund will have the funds to short and cover really soon. People can't keep mortgaging their house to buy gme forever! Shit, if the deepfucking value guy decides to cash in on his cool 50 mil tomorrow, there will be a bloodbath. I'm just a layman, but this is what the math is telling me will happen real fucking soon. And the hedge funds will win again. Just want to point out, that out of his $48 million, as of today's close, $13 million is ALREADY cash. Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted January 28, 2021 Share Posted January 28, 2021 39 minutes ago, DoctorEncore said: So what happens if they can't cover their calls? Does the stock plummet? I've heard that the really big hedge fund shorts have all covered at this point and gotten out. If the call holders exercise the calls, then the hedge funds that sold the other side of them are required to cover, even if it would bankrupt them. But there is a strong chance that the kind of people that bought the problematic (for the hedge funds) OTM calls, are the exact kind of people that can't afford to exercise their calls. So they may just end up having their calls expire and pay out at value, but no shares actually being required to change hands. Link to comment Share on other sites More sharing options...
Californication | 1,477 Posted January 28, 2021 Share Posted January 28, 2021 I'm a little nervous about tomorrow, mainly because I picked up AMC and BB and I think that is stretching it a bit. But I just got a call from my Grandmother asking me if Inhave heard about Gamestop. I know we all knew what was going on this week, but this got really widespread today and I am wondering if it attracts more people. Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted January 28, 2021 Share Posted January 28, 2021 Just now, Californication said: I'm a little nervous about tomorrow, mainly because I picked up AMC and BB and I think that is stretching it a bit. But I just got a call from my Grandmother asking me if Inhave heard about Gamestop. I know we all knew what was going on this week, but this got really widespread today and I am wondering if it attracts more people. It has had global coverage at this point. NPR talked about it on the radio. Bloomberg had it come up as commentary during 5 separate segments on their evening financial news. Link to comment Share on other sites More sharing options...
Californication | 1,477 Posted January 28, 2021 Share Posted January 28, 2021 (edited) 4 minutes ago, arch_8ngel said: It has had global coverage at this point. NPR talked about it on the radio. Bloomberg had it come up as commentary during 5 separate segments on their evening financial news. Do you think more people will go long? I just mean that the big investment co. can choose when to walk away and WSB can't hold it up alone. Edited January 28, 2021 by Californication Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted January 28, 2021 Share Posted January 28, 2021 Just now, Californication said: Do you think more people will go long? I just mean that the big investment co. can choose when to walk away and WSB can't hold it up alone. It's going to be interesting to find out. Link to comment Share on other sites More sharing options...
doner24 | 1,195 Moderator · Posted January 28, 2021 Share Posted January 28, 2021 I’m ready for another fun day tomorrow. Holding tight on the NAKD, AMC and BB plays from earlier this week and added SNDL. Link to comment Share on other sites More sharing options...
Braveheart69 | 124 Posted January 28, 2021 Share Posted January 28, 2021 2 hours ago, arch_8ngel said: Just want to point out, that out of his $48 million, as of today's close, $13 million is ALREADY cash. Arch I’m disappointed in you man. You almost seem to be idolizing this guy. A blind squirrel finds a nut, but this seems to be a case of the top of the pyramid scheme making all the money like always happens before it all comes crashing down. Things often don’t end well for those people either, SEC said it was watching all the craziness very closely, will be interesting to see what happens here. 1 Link to comment Share on other sites More sharing options...
Kguillemette | 1,544 Posted January 28, 2021 Share Posted January 28, 2021 30 minutes ago, Braveheart69 said: Arch I’m disappointed in you man. You almost seem to be idolizing this guy. A blind squirrel finds a nut, but this seems to be a case of the top of the pyramid scheme making all the money like always happens before it all comes crashing down. Things often don’t end well for those people either, SEC said it was watching all the craziness very closely, will be interesting to see what happens here. I dunno. It's like going for it on 4th down deep in your own territory when you are ahead by only one score. It's clearly a bad idea and the odds are so incredibly stacked against you. Letting 35 mil ride here is absolutely insane and the wrong move here, regardless of how much cash he's already pocketed! Someone is going to blink real soon and just collect their cash, like maybe thousands of people who put their entire life savings on black. I get the excitement of watching other people be foolish. I would rather watch an episode of Shameless than an episode of 7th Heaven. Doesn't mean I'm about that life! Link to comment Share on other sites More sharing options...
Kguillemette | 1,544 Posted January 28, 2021 Share Posted January 28, 2021 People who still hold GME be like: 1 Link to comment Share on other sites More sharing options...
Californication | 1,477 Posted January 28, 2021 Share Posted January 28, 2021 (edited) Idk what to do market opens in 25 min. I sold early the last couple days. If I would of held tues. Id been up almost 40k. Problem is I am doing thid for someone else. Edited January 28, 2021 by Californication Link to comment Share on other sites More sharing options...
jonebone | 1,307 Posted January 28, 2021 Share Posted January 28, 2021 Just remember a couple one liners about the stock market: Bears make money. Bulls make money. Pigs get slaughtered. And The market can remain irrational longer than you can remain solvent. If you're gambling with real significant money, you have to lock in at some point. If you're just winging it with fun money then let it ride however and just learn lessons along the way. 1 Link to comment Share on other sites More sharing options...
ThePhleo | 2,184 Posted January 28, 2021 Share Posted January 28, 2021 (edited) 10 minutes ago, Californication said: Idk what to do market opens in 25 min. I sold early the last couple days. If I would of held tues. Id been up 30k. Problem is I am doing thid for someone else. As the memers say. You gotta have and not be a Also, just for fun I put in an order for $2k in more shares. Maybe it goes through at market open, maybe it doesn’t... YOLO? HODL GME. (God I hate this, is this really investing? I feel like I’m at a casino playing craps or something...I’m supposed to be working right now and I can’t stop looking at my phone, this is gross) EDIT: Also don’t gamble with money that’s needed to pay bills and eat. I’m playing with money I was planning on using for the Super Bowl right now. Edited January 28, 2021 by ThePhleo Link to comment Share on other sites More sharing options...
Kguillemette | 1,544 Posted January 28, 2021 Share Posted January 28, 2021 3 minutes ago, Californication said: Idk what to do market opens in 25 min. I sold early the last couple days. If I would of held tues. Id been up almost 40k. Problem is I am doing thid for someone else. I mean you roll the dice too much you are going to crap out. It could run to 10k today. It could fall to 100. Link to comment Share on other sites More sharing options...
Californication | 1,477 Posted January 28, 2021 Share Posted January 28, 2021 (edited) I was up like 4K as of yest. And anoth 5.5 K from gamesto this a.m. the person started with 18K and they don't have anything else. Edited January 28, 2021 by Californication Link to comment Share on other sites More sharing options...
jonebone | 1,307 Posted January 28, 2021 Share Posted January 28, 2021 40 minutes ago, Californication said: I was up like 4K as of yest. And anoth 5.5 K from gamesto this a.m. the person started with 18K and they don't have anything else. That sounds like the kind of guy that gets left holding the bag. People basically going all in with no other savings / assets are usually spreading themselves too thin. Everyone knows the end game on GME is that it will drop back to reality. With each passing day that becomes more and more likely. 1 Link to comment Share on other sites More sharing options...
jonebone | 1,307 Posted January 28, 2021 Share Posted January 28, 2021 So dude on another forum who was diamond handing this just locked in $1M cash off GME and sold off 70%. He was in with $44k and said he was going all the way. It's coming to a head, be warned. Link to comment Share on other sites More sharing options...
ThePhleo | 2,184 Posted January 28, 2021 Share Posted January 28, 2021 10 minutes ago, jonebone said: So dude on another forum who was diamond handing this just locked in $1M cash off GME and sold off 70%. He was in with $44k and said he was going all the way. It's coming to a head, be warned. I’ll admit before anyone that what I’m personally doing is foolish, but then again I’m having way more fun with this than I would with the super bowl. Plus I have no idea if my order will even go through at 9:30, leaving me with my single stock. Anyone that gambles with needed money, savings, or other wisely invested money is beyond foolish, and is just straight up insane. If he cashed out at $1m then congratulations. That’s amazing for a $44k investment...I can’t think of anything that comes close other than maybe Bitcoin or Oval (R) sealed Super Mario Bros. pre-wata. Link to comment Share on other sites More sharing options...
DoctorEncore | 3,691 Posted January 28, 2021 Share Posted January 28, 2021 (edited) 10 hours ago, jonebone said: If you're still in GME, you really want to think hard about calling it tomorrow at some point. Just my advice, coming from a guy who got rid of his last $8 shares around $38. So obviously I'm not the most qualified person to talk exit strategy, but there will absolutely be a LOT of people left holding the bag. Sounds like you're pretty qualified to me. You recognized an undervalued stock, bought it at a great price, QUADRUPLED your money, then sold at twice the actual valuation of the stock right at the end of an insane short squeeze. You literally played this perfectly. Anyone who started in your position and then held above $40 was being reckless. GME is up another $110 (30%) in pre-market trading right now. I think trading will be halted today as the SEC sorts out what it wants to do. Edited January 28, 2021 by DoctorEncore Link to comment Share on other sites More sharing options...
Californication | 1,477 Posted January 28, 2021 Share Posted January 28, 2021 I locked in half profits. 1 Link to comment Share on other sites More sharing options...
Californication | 1,477 Posted January 28, 2021 Share Posted January 28, 2021 They are sating robinhood is blocking people from buying. Link to comment Share on other sites More sharing options...
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