GameStop (GME) Insane Ride

[Chef Jim]

32 minutes ago, Jauronimo said:

https://www.bloomberg.com/news/articles/2021-02-01/gamestop-short-interest-plummets-in-a-sign-traders-are-covering

 

According to IHS and S3 short interest is way down as of Monday.  You sure retail isn't selling? 

 

Of course they are selling.  They're not ALL idiots.  

[Mark80]

4 minutes ago, Chef Jim said:

 

I see. So the mission is to make money regardless of the debris you leave in your wake.  That's what I thought.  

 

You're gonna lose.  It's probably going to plummet to double, maybe even single digits.  You're Pop Warner playing against the Chiefs.  

 

Except I already cashed out last week at $170 (when they fooled me with their shutting down of robinhood, discord, WSB for a few hours and associated price crash) when I bought in for $40 as I mentioned already in this thread.  I just got back in with only $1k of the profits that I am holding.  I, sir, cannot lose here at this point.

[Jauronimo]

Just now, Chef Jim said:

 

Of course they are selling.  They're not ALL idiots.  

I'm pretty sure the people who started this campaign and realized they could harness the power of weaponized autism to unload their shares to militant bag holders who are just proud to be part of "the movement" are anything but stupid.  There are legions of people online convinced they are part of a "movement" or part of history when the market is, has been, and will always be a zero sum game, every man for himself.

 

When you hear words like "no one sell!" thats advice for you, not them.  The last time I heard "no one sell" was Enron leadership coordinating their exit.  It was only a matter of time

[Chef Jim]

1 minute ago, Mark80 said:

 

Except I already cashed out last week at $170 (when they fooled me with their shutting down of robinhood, discord, WSB for a few hours and associated price crash) when I bought in for $40 as I mentioned already in this thread.  I just got back in with only $1k of the profits that I am holding.  I, sir, cannot lose here at this point.

 

You cannot lose??  What makes you say that?  What is the true value of GME?  

[GoBills808]

3 minutes ago, Mark80 said:

 

Except I already cashed out last week at $170 (when they fooled me with their shutting down of robinhood, discord, WSB for a few hours and associated price crash) when I bought in for $40 as I mentioned already in this thread.  I just got back in with only $1k of the profits that I am holding.  I, sir, cannot lose here at this point.

So your 'movement' consisted of getting some sucker to buy at $170 by pumping your stock in a Buffalo Bills thread?

[Mark80]

Just now, Chef Jim said:

 

You cannot lose??  What makes you say that?  What is the true value of GME?  

 

I cannot lose because I look at it as a whole event.  I already sold all my shares and bought back in with only $1k of the profits.  I've already pocketed back my investments plus additional profits.  So, I can't lose as I see it, only win less.

[Chef Jim]

Just now, Jauronimo said:

I'm pretty sure the people who started this campaign and realized they could harness the power of weaponized autism to unload their shares to militant bag holders who are just proud to be part of "the movement" are anything but stupid.  There are legions of people online convinced they are part of a "movement" or part of history when the market is, has been, and will always be a zero sum game, every man for himself.

 

When you hear words like "no one sell!" thats advice for you, not them.  The last time I heard "no one sell" was Enron leadership coordinating their exit.  It was only a matter of time

 

They have become the "evil market manipulators" that they were fighting.  I understand that is part of their point but the amount of debris they leave in their wake is unfortunate.  Play stupid games win stupid prizes.  

[Mark80]

Just now, GoBills808 said:

So your 'movement' consisted of getting some sucker to buy at $170 by pumping your stock in a Buffalo Bills thread?

 

In no way encouraged anyone to do anything.  In fact, i specifically said I do not recommend getting involved.  I'm just discussing the subject and offering my opinions on it same as everyone else.

[Chef Jim]

1 minute ago, Mark80 said:

 

I cannot lose because I look at it as a whole event.  I already sold all my shares and bought back in with only $1k of the profits.  I've already pocketed back my investments plus additional profits.  So, I can't lose as I see it, only win less.

 

Ahhh you got yours.  Good for you.  

[Just Jack]

5 hours ago, Jauronimo said:

When you hear words like "no one sell!" thats advice for you, not them.  The last time I heard "no one sell" was Enron leadership coordinating their exit.  It was only a matter of time

 

I used to work for a nationwide IT contracting company about 20 years ago. We merged/bought another company, and within a year, business started going downhill, people were being laid off or quitting, companies weren't renewing contracts. Several coworkers were gung ho about buying up more of our stock since it had dropped so much, and I'm standing there listening to them, and thinking you're an idiot, look around you. Sure enough, about three months after I left the company went under. One day, security contractors showed up at all the offices, told everyone to leave, and locked the doors. 

[T&C]

I see GME closed today at $94.75... down -57.89. Great day for the markets overall.

[Chef Jim]

56 minutes ago, T&C said:

I see GME closed today at $94.75... down -57.89. Great day for the markets overall.

 

GME will most likely continue the slide back to reality the rest of the week.  Lot of people probably lost a decent amount of money so a bunch of message board geeks could "prove a point"  David didn't really slay Goliath.  He poked him in the eye, got him pissed and was squashed like a bug.  

 

This is why I always say:  Thanks for the advice but I don't need any advice.  

[DrDawkinstein]

On 2/1/2021 at 9:17 AM, T&C said:

Silver is the new Gamestop:

 

https://www.baynews9.com/fl/tampa/business/2021/02/01/silver-is-the-new-gamestop--price-boosted-by-online-movement

 

Reddit has no part in the silver market. That is being pushed by outsiders looking to take advantage of the hype.

 

 

 

Just go to the source, folks. Lot of good info here.

 

https://www.reddit.com/r/wallstreetbets/

[T&C]

6 minutes ago, DrDawkinstein said:

 

Reddit has no part in the silver market. That is being pushed by outsiders looking to take advantage of the hype.

 

 

 

Just go to the source, folks. Lot of good info here.

 

https://www.reddit.com/r/wallstreetbets/

Good info? Where? That place is a hell hole lol.

[Jauronimo]

https://www.barrons.com/articles/gamestops-short-sellers-are-fleeing-bulls-may-want-them-back-51612287815?mod=hp_LEAD_2

 

Quote

Ihor Dusaniwsky, managing director at S3 Partners, told Barron’s on Tuesday that only 26.09 million GameStop shares were recently sold short, or about 51% of shares available for trading. That’s down by more than 35 million shares over the past week alone, implying last week’s surge was driven in part by large-scale short covering.

 

If you factor in so-called synthetic longs, which are long positions that can be double counted as a result of the short-selling process, S3 estimates an adjusted short interest of only about 34% of shares available for trading. When an entity loans its shares to a short seller, the short seller then sells to a new owner. Technically, both the original holder and the new buyer are long, despite no new shares being created. Dusaniwsky says adjusting for this process gives a more logical and accurate look at short interest.

 

Wait, were other long hedge funds the actual winners here?

 

Quote

Gary Black, who was a leading tobacco analyst for Bernstein in the 1990s and the former chief executive of Aegon Asset Management, said on Twitter he believes the squeeze is “all but over as hedge funds who shorted offset their positions, and other hedge funds long the squeeze are onto other trades.” Black is also active on Twitter talking about electric vehicles.

 

All that GME money flowing into THCB and CCIV has been nice.

Edited February 2, 2021 by Jauronimo

[BarkLessWagMore]

7 hours ago, Jauronimo said:

I'm pretty sure the people who started this campaign and realized they could harness the power of weaponized autism to unload their shares to militant bag holders who are just proud to be part of "the movement" are anything but stupid. 

 

That is pure gold. Well done.

[DrDawkinstein]

3 hours ago, T&C said:

Good info? Where? That place is a hell hole lol.

 

Well, no kidding. That's the schtick. But if someone it trying to follow the story, then go to the source. They made a point in saying it isnt WSB driving the silver action.

[T&C]

47 minutes ago, DrDawkinstein said:

 

Well, no kidding. That's the schtick. But if someone it trying to follow the story, then go to the source. They made a point in saying it isnt WSB driving the silver action.

Oh I know, but it has been an interesting story. I have no dog in That race. 

 

Good day today:

 

Dow up 475

S&P up 52

Daq up 209

 

Tapered way down towards the end but still happy with today's results. 

[Just Jack]

Under $100/share now. Wonder how many of those people saying to hold because it was going to go over $1000/share are now wishing they sold when it hit $400/share. 

[Doc]

2 hours ago, Just Jack said:

Under $100/share now. Wonder how many of those people saying to hold because it was going to go over $1000/share are now wishing they sold when it hit $400/share. 

 

A nurse at work has a son who went to an expensive college in Florida for video game design.  He wasted his time and left them with $100K in debt.  He had GME and was counting his money and I told her "tell him to sell while it's in the $300s because it's probably not going much higher."  He didn't.