[BMW F22]

Originally Posted by vreihen16

I just bought one share at $270, so everyone knows up front that my fun money account curse will be ending the GME party in a few minutes.....

It’s at $249 now.

So let’s say $10K long put option. When it drops to $20 that’s $9k in profit.

[vreihen16]

It looks like the market froze trading again a few minutes ago at $249.72.....

[vreihen16]

Trading resumed, back up into the $280's.

The scary thing is that I don't know if my brokerage account will let me sell without holding it overnight if it craters in before market close. As the mantra of this thread says, don't play with money that you can't afford to lose.....

[Turkish Pickle]

Many platforms have been acting up, interesting to note how nothing works when the house is losing...

[premier3is]

Originally Posted by The J-Man

I lost zero. I don’t dabble with these high risk gambles but am seriously considering put options. Fundamentals matter eventually. This thing will come down like a house of cards.

Everything goes up and down, that's the market. time it right you'll make money, time it wrong and you be crying yourself to bed. Most brokers aren't letting you short GME now anyways.

[premier3is]

Originally Posted by Turkish Pickle

Fundamentals absolutely do not matter in this clown market, everyone knows GME is total shit. Retail business during a pandemic alone is a good reason why they should not be making money, lol.

Obviously it's going to go down at some point, but not before a fund is financially ruined. The point isn't to just make money for most on r/wsb anymore...

Hell, AMC is rising too - at least before the trading halt. Why would a theatre company make money during times where it's almost illegal to leave your house?

Spot on. But people don't understand what you're saying lol.

It's like the fuckers saying the market bubble will collapse. They been saying it for years and years and when it does they'll be like "see I told you!"... yea sure bud, just because it will eventually happened, doesn't make your prediction right lol.

[vreihen16]

I'm already up $100 before lunch on a single share of GME, now tapping $370.

YOLO for now, but hope that I can get out fast enough when it falls back to $300.....

[bimmer pleaser V2]

Serious question: what could stop the "mob" from doing this on any other heavily shorted stock? Just "mob-buy" a stock to force the short seller to buy as well and here we go again? Could this be the end of options trading, at least "holds"?

And I mean the mob in the most respectful way; the real mob are Wal Street crooks especially high frequency traders. I am glad they are getting demolished.

[floridaorange]

Don't forget NKD - crazy volume and rise today!

[smyles]

Originally Posted by bimmer pleaser V2

Serious question: what could stop the "mob" from doing this on any other heavily shorted stock?...

Given the "mob" is mostly retail traders who are dependent on brokers, just "tweak" their access, complicate order process, delay order executions, have sudden "technical difficulties", introduce "circuit breakers" that work at your will, ban for whatever reason - "you're private company and can do whatever!", etc.

[ASAP]

Originally Posted by Turkish Pickle

Fundamentals absolutely do not matter in this clown market, everyone knows GME is total shit. Retail business during a pandemic alone is a good reason why they should not be making money, lol.

Obviously it's going to go down at some point, but not before a fund is financially ruined. The point isn't to just make money for most on r/wsb anymore...

Hell, AMC is rising too - at least before the trading halt. Why would a theatre company make money during times where it's almost illegal to leave your house?

exactly... this why we need some government regulation on this shit... SEC needs to start stepping in...

GME in Q3 had a loss of -20M and was running on a negative margin lol... you can do this with any company... just the smaller, the easier....

And yes, institutional guys getting screwed... that part is good.

[Turkish Pickle]

Originally Posted by ASAP

exactly... this why we need some government regulation on this shit... SEC needs to start stepping in...

GME in Q3 had a loss of -20M and was running on a negative margin lol... you can do this with any company... just the smaller, the easier....

No this is exactly why we don't need government regulation on this

Why should some fuckface in new york be allowed to make money by effectively silencing individuals?

[ASAP]

Originally Posted by Turkish Pickle

No this is exactly why we don't need government regulation on this

Why should some fuckface in new york be allowed to make money by effectively silencing individuals?

When all these idiots sell off and GME goes to 0 or negative... the company will be bankrupt, am I right or wrong?

[NorCalAthlete]

Originally Posted by smyles

Given the "mob" is mostly retail traders who are dependent on brokers, just "tweak" their access, complicate order process, delay order executions, have sudden "technical difficulties", introduce "circuit breakers" that work at your will, ban for whatever reason - "you're private company and can do whatever!", etc.

All happened this morning already. Schwab, Fidelity, Etoro, IB, Vanguard, Trading 212 all went down for "technical difficulties" at the same time. Circuit breaker = halt trading - they've done that 8-9x now this week alone. Other people posting about their RH account getting locked or their broker telling them they can only sell their GME shares not buy any more.

[Turkish Pickle]

Originally Posted by ASAP

When all these idiots sell off and GME goes to 0 or negative... the company will be bankrupt, am I right or wrong?

You aren't wrong - but the likes of Melvin are betting on the company being bankrupt by shorting it

I don't see much difference in betting to make money from a company going bankrupt (wall street shorters) against people making money off a company and it going bankrupt as a result (retail "idiots")

[ASAP]

Originally Posted by Turkish Pickle

You aren't wrong - but the likes of Melvin are betting on the company being bankrupt by shorting it

I don't see much difference in betting to make money from a company going bankrupt (wall street shorters) against people making money off a company and it going bankrupt as a result (retail "idiots")

You're not wrong... but the concept is fkd up no matter who is involved.

[smyles]

Originally Posted by NorCalAthlete

All happened this morning already. Schwab, Fidelity, Etoro, IB, Vanguard, Trading 212 all went down for "technical difficulties" at the same time. Circuit breaker = halt trading - they've done that 8-9x now this week alone. Other people posting about their RH account getting locked or their broker telling them they can only sell their GME shares not buy any more.

yep.

[ASAP]

lol... you're only allowed to manipulate if you are big enough

[NorCalAthlete]

Originally Posted by smyles

yep.

Likely to allow any shares available or coming available to be sold exclusively to the hedge funds trying to cover.

CNBC reported Melvin Capital closed all their short positions. Except, that's literally physically impossible because they shorted 140% of what actually existed.

The longer we hold the higher it'll spike. If we hit $500 today, I'm predicting $1,000 by end of day Friday. We'll probably have a selloff at that point and bring it back down next week, but there's no possible way the big boys can close all their positions so as long as people keep holding next week it will spike again.

[Cyberdemon]

Originally Posted by ASAP

lol... you're only allowed to manipulate if you are big enough

Right?

Melvin goes TV on this morning, straight-up lies about "their position" to try to swap market sentiment???

Who is the SEC protecting again?

[NorCalAthlete]

Originally Posted by smyles

yep.

Likely to allow any shares available or coming available to be sold exclusively to the hedge funds trying to cover.

CNBC reported Melvin Capital closed all their short positions. Except, that's literally physically impossible because they shorted 140% of what actually existed.

The longer we hold the higher it'll spike. If we hit $500 today, I'm predicting $1,000 by end of day Friday. We'll probably have a selloff at that point and bring it back down next week, but there's no possible way the big boys can close all their positions so as long as people keep holding next week it will spike again.

[XKxRome0ox]

Originally Posted by bimmer pleaser V2

Serious question: what could stop the "mob" from doing this on any other heavily shorted stock? Just "mob-buy" a stock to force the short seller to buy as well and here we go again? Could this be the end of options trading, at least "holds"?

And I mean the mob in the most respectful way; the real mob are Wal Street crooks especially high frequency traders. I am glad they are getting demolished.

you can't possibly organize enough individuals to create a big enough mob and bankroll to beat the big money institutions on every short sell

in the case of GME, all the stars aligned to make this happen
and the people are rallying