Rules for Thee But Not For Me

[helmsdale]

I wasnt aware this was as big as it is.

https://globalnews.ca/news/7604866/short-position-losses/ Wall Street titans lose more than US$70B amid Reddit frenzy that fuelled GameStop and others

You can bet those $2000 stimulus cheques wont be forthcoming now.

Near term options expire tomorrow.

Numerous trading platforms have eliminated customers ability to purchase GME and AMC, as well as a couple of the other "most shorted". Robinhood even shut down users ability to purchase additional shares, only allowed users to sell, and it's rumored they even liquidated some users existing shares. r/WSB is losing it's shit and now a class action lawsuit has been filed in New York against Robinhood.

It reaks of backroom shady deals and leveraged blackmail from the very hedge funds that are caught. Robinhood has said that they have secured additional liquidity, and will be allowing unrestricted trading on GME and AMC in the morning. They may have opened back up in the afterhours session...

GME stock currently is up over $100 sitting at $311.99 at the close of the after hours session. If you naked shorted this thing when it was trading in the $3 and $4 range your're going to be left wondering whether your ass is punched or bored!

[helmsdale]

From ZH article...

https://www.zerohedge.com/markets/jpmorgan-has-some-bad-news-hedge-funds-hoping-nightmare-ends-soon https://www.zerohedge.com/markets/jpmorgan-has-some-bad-news-hedge-funds-hoping-nightmare-ends-soon

For a few hours this morning it seemed that all was lost for r/WallStreetBets and their crusade to teach Wall Street billionaires a lesson, when one exchange after another banned buying in the most-shorted stocks, an unprecedented unilateral decision made by brokerages (one of which, Robinhood, is effectively joined at the hip with hedge fund Citadel, which in turn is a part owner of Melvin Capital which was destroyed by the short squeeze that Robinhood banned, so a clear conflict of interest), and one which sent GME stock as low as $112 after trading at $500 just hours earlier.

Robinhood as I said has secured the necessary liquidity to allow users to trade tomorrow, so god forbid they re-upped their shorts thinking they had won.

In order to close out their positions, if they haven't already, they'll have to either purchase off the open market for ludicrous values which the /WSB crowd has already said they could give a shit to ever relinquish, or,

if indeed there are more shorts - both synthetically or otherwise - than available shares, then the only place bearish hedge funds will get shares to cover their shorts is from the company itself. Which means that Gamestop can theoretically ask for any price (somewhat reasonable) and hedge funds will have to agree. After all, it's not GME's fault that hedge funds were so greedy they overshorted the company, which really is what all this boils down to.

[foragefarmer]

Where ever these individual investors got their money from is of no issue to me, it's just such a pleasure to see these Hedge Fund bottom feeders losing BILLIONS!

These scum bags have used cheap money to fleece the ordinary investor for years.

Now they call foul. F uck' em I say, go Reddit and Robinhood.

[jazz]

In order to close out their positions, if they haven't already, they'll have to either purchase off the open market for ludicrous values which the /WSB crowd has already said they could give a shit to ever relinquish, or,

If 5M people lose $300 bucks who cares, but if 5000 people lose $70B, well....ouch.

Those groupies will be looking for other prey after gamestop. You can easily find the stocks with the largest short positions. Gezus Blockbuster still trades.

[furrowtickler]

I bet the elite are thinking hard now about taking everyones jobs away. Looks like they created a little underground movement for people with a lot of time on their hands.

Silver is the next target. Maybe canola could be next.

Exactly that ☝🏾

[furrowtickler]

Buy dirt , go fishing 🎣, let others slay themselves. Will be no winners there at the end of the day

[burnt]

"When an Anarchist is poor he breaks laws; when he is rich he makes them. In neither case does he ever dream of obeying them."
G. K. Chesterton (1874–1936)

[biglentil]

Reddit squeeze on silver making the news.

https://www.theglobeandmail.com/business/article-silver-precious-metal-mining-shares-the-latest-hit-by-reddit-fuelled/ https://www.theglobeandmail.com/business/article-silver-precious-metal-mining-shares-the-latest-hit-by-reddit-fuelled/

[jazz]

Rumors are the SEC is going to try and go after some of these guys for a pump and dump scam. Going to congressional hearings for sure.

You knew the little guy would pay again. Some news outlets saying its racist to trade and this is underground Trumpism at work blah blah blah.

Funny how disruption is all fine when its oil workers but when its Wall Street, the govt jumps right in.

Everything is a scam, finances, money, elections, climate change. All exposed during a pandemic.

[recapped]

Shorting in stock market shouldn't be allowed. IMHO

[burnt]

Market needs to stop investors from selling a stock they don’t own. Off you don’t like a stock don’t buy it.

This speaks more to the problem you are referring to - market manipulation without providing any benefit to the parties involved:

The video won't play for me. Try the link?
https://www.youtube.com/watch?v=S0HvhZIy*** https://www.youtube.com/watch?v=S0HvhZIy***

https://www.youtube.com/watch?v=S0HvhZIy*** https://www.youtube.com/watch?v=S0HvhZIy***

Anyone else have any success in opening this video or link?

It's Tucker Carlson explaining what happened and then interviewing Dave Portnoy. He lambasts the SEC for interfering with the perfectly legal market move that absolutely burned the hedge funds.

Title of vid on Youtube: "Portnoy calls for people to be jailed over hedge fund scandal in scathing interview"

Maybe available here:

https://theglobalherald.com/news/portnoy-calls-for-people-to-be-jailed-over-hedge-fund-scandal-in-scathing-interview/ https://theglobalherald.com/news/portnoy-calls-for-people-to-be-jailed-over-hedge-fund-scandal-in-scathing-interview/

[Rareearth]

Our commodity markets need and want fund money including short sellers, etc
This creates volumes, liquidity and yes volatility.
Smart farmers should see the opportunities, if given all the information, that exporters and importers have.

[RTK]

Hedge funds - short selling a stock, little guys decide to buy said stock and stock price increases... hmmm guess Hedge Fund made a bad trade, and others capitalized.

There should be no government action required.

Wall Street should learn a lesson.

You can speculate all you want in the market but you take the risk win or lose.

[Guest]

these f u c k i n g hedge fund bloodsucking pricks can short a stock , then give their expert opinion that the stock is going broke , then collect their money when it does .
they got it handed to them , good deal , hope it keeps happening
who the **** are they to say hilton hotel is going broke

[jazz]

These reddit guys are probably in trouble. You cant raise a stock just by lots of people buying it. There are stocks that trade in the millions everyday and dont move more than a percent or two a day.

To drive something from $50 to $350 in a few days would require consecutive trades where one buyer agrees to offer it up at higher price and somebody agrees to hit that in a consecutive fashion and the only way to do that is through coordination through an instantaneous platform like social media. All the at the same time they let people who were in early take a little profit on the way up.

They may have bitten off more than they can chew.