Agree hnd and hdog3385 have the big picture nailed. hdog3385 sounds like you have the SEC series 6 and 7 license to trade in derivatives??? (Stock XYZ reference from the testing)
Gamestop stock will, without a doubt return quickly to its true value. Probably sub $20 a share within a month. Maybe by Monday. 
Gamestop will go the way of Blockbuster and One Hour Photo IMO.
-J.
I do not have any license or certification to trade stocks. The example I gave was supposed to be a link to someone who is but I couldn’t get it to work so I typed it out. I should have made that clear because now I don’t remember where I saw it.
I do have a pretty good understanding though thanks to my own financial planner. He’s one of my best friends who I have known for over 20 years, way before I ever had a dime of my money with him.
Agree with your analysis of Gamestop, it has to fall hard at some point too.
Gamestop, their stock price close Friday at 325.00 then drop to 313.00 in the extended PM hours. And Melvin Capital their short ratio of GME is still huge at 120 % like it is now, NOTHING EVEN HAPPENED Yet
So you can see, even if Melvin Capital wants to cover their shorts, it’s gonna take them DAYS, and right now it’s gonna take them an entire trading week to cover their position. Price going higher. Imho
The bluechips being liquidated (Tesla, Apple, FB) are all indicators of shorts covering their positions. Apple fell 5% after a record 11 figure earnings. Incredible buying opportunity once the squeeze(s) are over. Repercussions for options traders will be interesting to watch for the future. Hope everyone gets a piece of these HF’s. GME to 10000
Repercussions for options traders will be interesting to watch for the future. Hope everyone gets a piece of these HF’s. GME to 10000
X2
I think Robinhood will be sued to dead! when this is over. RIP Melvin Capital lol
Robinhoods EULA will save them from that but their unpopularity could be their downfall. that IPO can go out the window thats for sure at this point.
Melvin Capital still has 8 Billion under management after starting the year with 12.5 so they don’t appear to be going anywhere either.
GME hovering around $100 share this afternoon. I’d guess there might be a fair share of folks who paid a lot more and will hold on to their shares hoping to recover losses. That may sustain the price for a short run. Still think the company is worth sub $20 share.
$1000 a share, no way!
-J.
Yep, the squeeze is over. WSB caught the big boys with their pants down but it didn’t take long for them to catch up. Honestly, I’ve found myself rooting for both sides on this at times. I think we need both. I also think I don’t have the resources to sustain the losses like the big boys can. If you do great, but a lot of average investors got caught in the crossfire and will be hurt.
When you see people pumping this stock saying things like “hope everyone gets a piece, GME to 10000” you gotta know all sanity has left the building and run.
Right. The rollercoaster ride is about over it would appear. It might last through the week, perhaps beyond, but the writing is definitely on the wall.
GME hovering around $100 share this afternoon. I’d guess there might be a fair share of folks who paid a lot more and will hold on to their shares hoping to recover losses. That may sustain the price for a short run. Still think the company is worth sub $20 share.
$1000 a share, no way!
-J.
It wasn’t about the value of the company, it was about the possibility of triggering a short squeeze.
yeah if anyone still had shares by this morning they lost out on the best returns. I sold my remainder on monday. Know when to fold em as they say
Silver rumors…. its at $27 now… up over 10% 
It wasn’t about the value of the company, it was about the possibility of triggering a short squeeze.
A squeeze by (mostly) clueless retail day traders. Good luck with that. Might as well fly to Vegas and put it all on Red or Black at the spin of a wheel. 
-J.
Yep, the squeeze is over.
I’m not so sure of that. Still a ton of naked shorts out there that are not covered. Hedge fund Mevlin is bleeding interest daily Don’t count out the little guy yet!
Total GME short seller losses ytd: $9.50 Billion and here is some current data, if real fact numbers are true not fake or manipulated ! Then there still a fight. Does Mevlin and his gang of ASS CROWNS die bleeding interest daily?, or do they pay up BIG for the shorts and stay out of jail.
Squeeze progress
Shares shorted: 26.09M
Total float: 46.89M
Short % of Float: 55.64%
Updated Feb. 3rd, 3:45pm NYC time
Tweet
My guess is that a lot of those short positions were taken after the price hit $400 and by the same people who lost their butts the first time around. The shorts not over, just the squeeze by the retail investor.
Of course I could be completely wrong, it’s going to take some time to sift through the forensics of this event. Just so everyone knows, I have no $ in this and never have. I’m just an average joe who finds this all fascinating!
No horse in this race either but why Gamestop?
Well, it really had nothing to do with Gamestop themselves. They were a company that hadn’t turned a profit in 3 years and Melvin Capital and others had taken huge short positions, betting the stock price would go down. It was the most heavily shorted stock on wallstreet, a perfect target for a short squeeze.
Something that has been a little eye-opening to me is how in bed all these big hedge funds and institutions are with each other. If one of the other big boys had an axe to grind with Melvin Capital they could have pushed this thing themselves. But they didn’t. Instead they jumped at the chance to help them out, at a profit of course!
If one of the other big boys had an axe to grind with Melvin Capital they could have pushed this thing themselves. But they didn’t. Instead they jumped at the chance to help them out, at a profit of course!
If Mevlin Capital melts down under this scam with GME, THE paper trail with take out the big boys! I think this is just getting going with retail investors stuck with dead account for days wall leaving Robinhood for Vanguard, Fidelity, or TD Ameritrade. The hedge funds had no resistance so they trade back and forth to drive the price down with low volume. I think you will see retail buying again when the transfers are complete. There will be resistance from retail buyers again IMHO, Got to root for the little guy here fun to watch old hedge funds crooks cry foul on TV
the majority of retail investors didn’t buy GME to take down the man. they did it to make a profit. and many did and got out as they saw the price dip in to the $200’s friday and earlier this week. Now the loudest voices are trying to keep people into it but most people are already out. most shares owned have always been institutional. WSJ this morning notes some large hedge funds and other institutions that made Millions on GME this past month. A few Hedgefunds took a beating. But to be honest, most of them that didn’t short and just held shares made out like bandits.
Who here has/had jumped on the dogecoin bandwagon too?
My brother bought in at $.0083 per share (30k shares)…so spent $114
He sold out at $.076 (30k shares)…so $2280
^Not too bad of a turnaround for a couple weeks and a few buttons clicked on a phone app
That’s a low risk high reward type of gambling. 
Pretty sweet, admittedly those cryptocurrencies are off my radar.
Who here has/had jumped on the dogecoin bandwagon too?
My brother bought in at $.0083 per share (30k shares)…so spent $114
He sold out at $.076 (30k shares)…so $2280
^Not too bad of a turnaround for a couple weeks and a few buttons clicked on a phone app
I had mined them back in the day, had 230k sitting around. Didn’t have them in an exchange to take advantage of the first pump to .08, and completely mistimed this second pump and sold at .0320 
Missed out on a couple grand.. oh well.
Two things I’ve learned from this: I’m not cut out for day trading, and FOMO is a dangerous thing.
<div class=”d4p-bbt-quote-title”>buckybadger wrote:</div>
Who here has/had jumped on the dogecoin bandwagon too?My brother bought in at $.0083 per share (30k shares)…so spent $114
He sold out at $.076 (30k shares)…so $2280
^Not too bad of a turnaround for a couple weeks and a few buttons clicked on a phone app
I had mined them back in the day, had 230k sitting around. Didn’t have them in an exchange to take advantage of the first pump to .08, and completely mistimed this second pump and sold at .0320
Missed out on a couple grand.. oh well.
Two things I’ve learned from this: I’m not cut out for day trading, and FOMO is a dangerous thing.
Absolutely. I don’t dabble nearly as much as others. With the cryptos, I’d argue FOMO drives more than any coin or advanced form of currency will ever with regard to prices. I stick to the golden rule of never putting some money in that you cannot lose.
We need an ongoing thread on here for people who dabble in the crypto world or with some small stock sums. There’s a wealth of knowledge and experiences on this forum. I’d rather hear the take of people here similar to myself on these topics than the yahoos on Reddit.
You must be logged in to reply to this topic.
Missed out on a couple grand.. oh well.