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Daniel_Doyce

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14 minutes ago, arch_8ngel said:

Yeah, he claims his plan all along was to stay in the 50,000 shares that he has -- and for the fact that he's managed to cash in so much in options, and the fact that he's held through so many dips and bumps along the way -- I really think he might.

 

EDIT: and it looks like the Robinhood traders didn't have full access to the stock today -- they were only allowed to buy up to 5 shares and later in the day that ceiling was reduced to 2 shares.

So most of the "meme energy" couldn't get into the stock today, at all, similar to yesterday.

Seems the only way around it is to buy options and immediately claim the stock. That is of course if you want 100.

 You can probably sell your spare but you still need like $35000 to start

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Just now, ThePhleo said:

Seems the only way around it is to buy options and immediately claim the stock. That is of course if you want 100.

 You can probably sell your spare but you still need like $35000 to start

They're not selling options on it, at all, I think (via Robinhood)

They're in a serious liquidity crunch due to the clearinghouse raising coverage requirements in a way they (as a VC-funded startup) were not equipped to handle.

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Just now, doner24 said:

Excited to see how next week plays out. I increased my position in AMC and bought some GME for fun, but nothing serious. It’s all on house money, so inclined to let it ride for awhile, but have a partial limit sell set on the AMC as of now. 

I should say, a reasonable limit sell on AMC. Not a moon lander. 

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5 minutes ago, doner24 said:

Excited to see how next week plays out. I increased my position in AMC and bought some GME for fun, but nothing serious. It’s all on house money, so inclined to let it ride for awhile, but have a partial limit sell set on the AMC as of now. 

Next week will determine whether this was one giant joke or a true market changing event. I'm pretty excited to see how it plays out.

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47 minutes ago, DoctorEncore said:

He is definitely NOT going to be the one holding the bag. He's already pocketed $13.8 million, so even if GME goes to zero on Monday, he will have won.

I was under the impression that for many of those participating in this, winning / losing here is measured not by the earnings of the retail investors, but by the losses of the hedge funds who shorted.

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54 minutes ago, sg17 said:

I was under the impression that for many of those participating in this, winning / losing here is measured not by the earnings of the retail investors, but by the losses of the hedge funds who shorted.

That's certainly the overwhelming narrative on wsb, but you have to remember who that benefits. Most traders on that site have just a few shares, but the big buyers who got in early have thousands of shares. And if the shorts actually cover and the stock is squeezed even higher, those early adopters will be multi millionaires. The "Fight the Power" mentality is encouraging people who wouldn't normally buy stocks to jump in. Those people will have no chance to sell when the stock craters and they will lose it all. Convincing them not to care about losing their money is an amazing strategy for the people who do care. And no matter what happens, hedge funds will still be around making billions after this is over.

It's just like Die Hard with a Vengeance. “The only thing better than blowing up 100 billion dollars worth of gold is making people think you did.”

Edited by DoctorEncore
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17 hours ago, DoctorEncore said:

 

It's just like Die Hard with a Vengeance. “The only thing better than blowing up 100 billion dollars worth of gold is making people think you did.”

Well in this case the short-side hedge funds are really losing billions of dollars -- it is a DIFFERENT set of hedge funds profiting off of the mania on the long-side.

I saw it put succinctly elsewhere "the only thing hedge funds like more than making money is fucking other hedge funds" 😛 

So I don't think there is a lot of love lost between the major players.

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Did anyone hear the story of the school that was invested in Gamestop long term that made $300 million and was able to fund their pensions?

I know it is just a byproduct and an accident, but it is a good story.

Hopefully, it gets wider coverage and is true so they can counter some of the narratives since the media is trying to turn public sentiment.

Edited by Californication
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Just now, Californication said:

Did anyone hear the story of the school that was invested in Gamestop long term that made $300 million and was able to fund their pensions?

I know it is just a byproduct and an accident, but it is a good story.

Hopefully, it gets wider coverage and us true so they can counter some of the narratives since the media is trying to turn public sentiment.

It's insane to me that any pension or fund would have enough invested in GameStop to make $300 million, but if so, I hope they sold!

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3 minutes ago, DoctorEncore said:

It's insane to me that any pension or fund would have enough invested in GameStop to make $300 million, but if so, I hope they sold!

I'm trying to find the article i read yest. I found another article, an Ontario teachers fund got cashed out $500 million after some company Macerich, got pumpedb/c reddit. 

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On 1/29/2021 at 6:30 PM, Californication said:

Stop destroying telcommunications you guys.

https://www.bloomberg.com/opinion/articles/2021-01-28/gamestop-may-be-a-reddit-wallstreetbets-game-but-nokia-sure-isn-t

These people are so full of sh#$.

 

I think Gamestop is where the fun ends. If you look at the top shorted companies, Gamestop was at $22B in short interest. The next highest after Gamestop was Bed Bath and Beyond at $4B..

I don’t know where the idea to short Nokia came from.. maybe they were thinking that since BlackBerry is a dying mobile phone manufacturer, the same would be true for Nokia?? But Nokia has diversified to many other industries outside of mobile phone manufacturing... they’re actually a pretty solid company in my opinion. I don’t know who would be shorting Nokia as there is long term growth in sight 

 

0BD8FD1E-6622-49CD-A538-00C828AA3461.jpeg.82365323e1d6af9ea92262a6771d863a.jpeg

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https://www.reddit.com/r/AskReddit/comments/l7bl3z/brokers_of_reddit_how_crazy_is_it_where_you_work/gl64yau/

Interesting take, especially this:

"I have been monitoring the WSB threads, and while the WSB veterans know that they're making a suicide charge for the memes, they have brought thousands of naive, new investors with them - who predominantly think that they're going to somehow come out on top, not realizing that they're cannon fodder for the more savvy WSB users to exit with gains."

"If you didn't know what a gamma squeeze was 48 hours ago, you are their exit strategy and the down payment on their next Porsche."

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2 hours ago, Tulpa said:

https://www.reddit.com/r/AskReddit/comments/l7bl3z/brokers_of_reddit_how_crazy_is_it_where_you_work/gl64yau/

Interesting take, especially this:

"I have been monitoring the WSB threads, and while the WSB veterans know that they're making a suicide charge for the memes, they have brought thousands of naive, new investors with them - who predominantly think that they're going to somehow come out on top, not realizing that they're cannon fodder for the more savvy WSB users to exit with gains."

"If you didn't know what a gamma squeeze was 48 hours ago, you are their exit strategy and the down payment on their next Porsche."

When the price crashes, it is going to crash FAST. And all the newbies who don't have stop orders in are going to lose everything. If you peruse wsb, you won't see much about how to minimize losses. Just 💎👐 and 🚀🌑 over and over again.

Speaking of which... Predictions for the week?

I'm thinking GME goes down in premarket Monday as cooler heads prevail and smarter investors flee. That will (maybe) be followed by an early morning bump from all the people just now learning about this craziness from their weekly news podcast. As the week goes on I think it will be a steady decline.

Anyone buying in? I've sat it out this whole time but I might set up a limit buy in the 150 range for premarket. I've also got my bigger actual investment in SLV which should be fun to watch this week.

EDIT: Also, pretty much all of the new traders are using Robinhood which puts them at the back of the line for executing trades, so it will be especially bad for them.

Edited by DoctorEncore
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My new pick is SLV, buying some at open today.  Thought process:

For one, it's getting the meme hype and reddit is trying to squeeze it.  Yeah okay, not the main reason I buy a stock.  But when you combine that with the other factors, this is why I like it.

Silver in general got a big boost late 2020.  I noticed people on getting into precious metals, some liquidating games or pokemon cards to get some.  No reason to panic buy silver but that was a real push that moved Silver price a few dollars.  

It's channeled more or less flat since then but hasn't been able to drop past a support level.  With all of the stimulus money we're spending, there is also no secret our dollar is getting devalued.  And with dollar devaluation comes increased interest in safe havens like silver and gold... and I bet that was a contributing factor to the BItcoin insanity too.

I wanted to buy SLV Friday but I was worried $25 was going to be a head fake and pull back.  The premarket pop could still be a bit of head fake this AM but I'd rather get some and sit on it at least.  Another interesting week ahead...

Edited by jonebone
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2 minutes ago, jonebone said:

My new pick is SLV, buying some at open today.  Thought process:

For one, it's getting the meme hype and reddit is trying to squeeze it.  Yeah okay, not the main reason I buy a stock.  But when you combine that with the other factors, this is why I like it.

Silver in general got a big boost late 2020.  I noticed people on getting into precious metals, some liquidating games or pokemon cards to get some.  No reason to panic buy silver but that was a real push that moved Silver price a few dollars.  

It's channeled more or less flat since then but hasn't been able to drop past a support level.  With all of the stimulus money we're spending, there is also no secret our dollar is getting devalued.  And with dollar devaluation comes increased interest in safe havens like silver and gold... and I bet that was a contributing factor to the BItcoin insanity too.

I wanted to buy SLV Friday but I was worried $25 was going to be a head fake and pull back.  The premarket pop could still be a bit of head fake this AM but I'd rather get some and sit on it at least.  Another interesting week ahead...

I don't think reddit is trying to squeeze that one. A lot of the posts are saying that silver is neing mentioned to take focus from gme/amc. But really there seems to be a lot of confusion so idk.

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1 hour ago, Californication said:

The premarket action is light. Inam getting nervous.

Pre-market is so hard to judge, especially before 7:00AM. Almost no one has access before that time and all the new people coming in won't even know what pre-market is. I wouldn't take it as a sign of much.

1 hour ago, jonebone said:

My new pick is SLV, buying some at open today.  Thought process:

For one, it's getting the meme hype and reddit is trying to squeeze it.  Yeah okay, not the main reason I buy a stock.  But when you combine that with the other factors, this is why I like it.

Silver in general got a big boost late 2020.  I noticed people on getting into precious metals, some liquidating games or pokemon cards to get some.  No reason to panic buy silver but that was a real push that moved Silver price a few dollars.  

It's channeled more or less flat since then but hasn't been able to drop past a support level.  With all of the stimulus money we're spending, there is also no secret our dollar is getting devalued.  And with dollar devaluation comes increased interest in safe havens like silver and gold... and I bet that was a contributing factor to the BItcoin insanity too.

I wanted to buy SLV Friday but I was worried $25 was going to be a head fake and pull back.  The premarket pop could still be a bit of head fake this AM but I'd rather get some and sit on it at least.  Another interesting week ahead...

 

1 hour ago, Californication said:

I don't think reddit is trying to squeeze that one. A lot of the posts are saying that silver is neing mentioned to take focus from gme/amc. But really there seems to be a lot of confusion so idk.

I was watching SLV last week when it came up on wsb and decided to give it a go. It saw about a 10% bump after the first big mention, but then it got buried by GME memes. I looked back on it historically and did a bit of silver research and I agree it's a solid buy, even for medium to long term. I was able to get a substantial stake at 24.89 on Friday in hopes the story would pick up over the weekend. SLV actually gained about 1% in aftermarket trading on Friday, giving me a nice little profit for the day.

I saw a few articles saying that wsb can't pump or squeeze silver because it's such a huge commodity, but that's only partly true. My justification for a run on SLV:

  1. wsb/Redditors don't have to actually pump the entire silver market, just the SLV fund. Simple economics of supply and demand for this fund will lead to modest growth.
  2. Hedges have realized what can happen with a coordinated short squeeze and are definitely monitoring wsb now. The major shorts probably won't stick around to fight this battle after seeing the huge losses on GME and others that have accumulated in just one month. This should give SLV at least a small squeeze.
  3. Market conditions are volatile, so precious metals will all probably go up this week.

So far, things are playing out as I predicted. I did actually have a stop order in at $23.50 since wsb creates such volatility, but thankfully it didn't execute. SLV is up about 10% pre-market due to short exits or new people/funds coming in. I'm interested to see how it plays out for the week. The real question now for me is "When do I take my meme money and run?"

As for GME and AMC, they are impossible to predict. I was hoping for a bigger GME selloff premarket after people had time to rethink their life choices over the weekend. I was hoping to jump in at $150 and then sell on the first major bump, but it looks like that isn't gonna happend. AMC is impossible to predict and is up 20% premarket right now. Insanity.

@jonebone, what trading company do you use? Are you able to trade at 4am? I'm on E-Trade, but they don't allow premarket until 7am.

Good luck friends!

EDIT: Looks like a lot of Redditors went with AG over SLV since it's cheaper. It's up almost 40% premarket. This is a wild ride.

Edited by DoctorEncore
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@DoctorEncore

I was hoping for a bigger dip in GME premarket also, I missed that 10% drop this a.m. i think AMC has legs, I got back in today. Should have grabbed it when it dropped down to +10% but whatever. 

Idk what will happen with Silver, but I think the reddit influence will be more akin to BB than AMC or GME. There are many posts now saying not to buy-it and pointing out the narrative the media is trying to push. That doesn't mean the wider market won't take part because of the media campaign.

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7 minutes ago, Californication said:

@DoctorEncore

I was hoping for a bigger dip in GME premarket also, I missed that 10% drop this a.m. i think AMC has legs, I got back in today. Should have grabbed it when it dropped down to +10% but whatever. 

Idk what will happen with Silver, but I think the reddit influence will be more akin to BB than AMC or GME. There are many posts now saying not to buy-it and pointing out the narrative the media is trying to push. That doesn't mean the wider market won't take part because of the media campaign.

Absolutely. SLV will not be anything like GME, but a 10% gain when you're talking about day trading is fantastic. Especially for something that's so safe. I'll be keeping an eye on AMC, but I probably won't buy in unless it falls below 10.

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We Sold almost all of our physical silver ages ago. At our companies peak we had about 38,000 ozt. Of it in inventory.

These says I think we’ve got 500 ozt just as a memento from the business we shuttered.

Either way, Reddit idiots aren’t saying buying silver. Not sure where the news is getting that info from ... Reddit is saying the guys who have the most to lose in GameStop own a lot of silver though and that this is a media campaign to manipulate the market to get some money in their pockets to soften the blow.

 

🤷🏻‍♂️

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