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Caliane

Caliane

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Downhammer said:
And had RH and others just put 3-4 click through warnings that GME and others were meme stocks and unless you're in on the joke you'll likely lose I think everyone would have been fine instead of locking people out.
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thats not really what the problem was though.

Robinhood just had a catastrophic failure in PR. They made it sound like they were protecting the hedgefund, or "the retailers from themselves"... but what happened was,

Robinhood ran out of money. They could not cover the buys.
 
Fogel

Fogel

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No matter the cause RH fucked up across the board. They deserve what they get regardless of if the issue was incompetence, lack of planning, or malicious.
 
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Downhammer

Downhammer

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I know they were never protecting the little guy. I'm saying if that actually was their motivation they went about it all wrong. Just more proof who they are beholden to.
 
Uber Uberest

Uber Uberest

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Caliane taking the bait too. Fucking retards. Vlad was on CNBC last night and said it was not a liquidity problem. Stop fucking taking the cheese you morons. They were allowing the hedge funds to reposition themselves.
 
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Penalty

Penalty

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What I dont get is Reddit going hard on how the TPTB control everything, always win and will win, but on the other hand reddit thinks it has the upper hand in the GME situation and wont get fucked in the end? Whats to stop TPTB from fucking everyone somehow? and are we really believing they are just sitting there crying and not manipulating and profiting off this as we speak? That they arent in total control and will steer this exactly where they want it to go?
 
Burns

Burns

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Doesn't Robinhood front run their clients via proxy?

If so, fuck them, the horse they rode in on and the VCs that own that horse.
 
Blazin

Blazin

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Sanrith Descartes Sanrith Descartes I sold 20 contracts of $350 strike puts on that dip and bounce off 368 on SPY, these expire Monday so just someone paying me $1,000 to insure them against a 5% decline over the weekend. Going to cash with this money at high yesterday paid off nicely.

Reason I'm not making a bigger play is I want to reassess the pull back on Monday/Tuesday then sell 2/19 expiring options.
Capture.JPG
 
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Fogel

Fogel

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The other thing to remember is it wasn't just RH blocking trades. I refuse to believe all those collective brokers were having liquidity problems at the same time
 
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Ravishing

Ravishing

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Penalty said:
What I dont get is Reddit going hard on how the TPTB control everything, always win and will win, but on the other hand reddit thinks it has the upper hand in the GME situation and wont get fucked in the end? Whats to stop TPTB from fucking everyone somehow? and are we really believing they are just sitting there crying and not manipulating and profiting off this as we speak? That they arent in total control and will steer this exactly where they want it to go?
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WSB is a collection of individuals and the smart ones have already taken their profits and are playing with house money.
 
Downhammer

Downhammer

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I think there's also a portion of WSB (and here) that just want to see how far TPTB are willing to go. Red pill the masses instead of actual profit.
 
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TJT

TJT

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Fogel said:
The other thing to remember is it wasn't just RH blocking trades. I refuse to believe all those collective brokers were having liquidity problems at the same time
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It was Meryll Lynch, Webull, Robinhood, TDA, and who knows how many others at minimum.
 
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Ravishing

Ravishing

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The guy that started the GME stuff and his GameStop analysis back in July 2020....

 
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Sanrith Descartes

Sanrith Descartes

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Jysin said:
Sanrith Descartes Sanrith Descartes CCVU .. what broker are you using? Can't find that symbol in Lightspeed, TD Ameritrade, or my eSignal charting software. I can (and did), however, purchase it in the retirement account through Fidelity.

What gives with the other brokers?
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depending on the broker it could be CCV/U or CCV.U
Or search for Churchill Capital V Corp
 
swayze22

swayze22

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Like everything it's more nuanced. Some platforms removed them, some platforms made them sell only, some limited to margin trading only. All of that was a very fluid situation over the past two days and not all took them down completely.
 
Sanrith Descartes

Sanrith Descartes

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Locnar said:
this is what im afraid of, at least for the non-GME stocks. its why im leery of getting back into AMC. Especially since AMC lusts after offering more shares.

i'm also afraid of getting finally caught at the wrong end of these meme wars and cutting into the gains I already made
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Its always better to be up $10 and out than down $100 and in.
 
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Araysar

Loser Araysar

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I dont believe RH ran out of money, I firmly believe it was to stop trading to let the HFs rebalance.

If they ran out of money, they should have stopped all trades on all stocks (not just meme stocks) and came out and said so. THAT would have been a lot less catastrophic PR-wise.

Ask yourself if the situation was reversed and all these trades were benefitting the HFs, would the money have "run out"?
 
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Sanrith Descartes

Sanrith Descartes

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Gravel said:
This is true. I have a finance degree, a job that allows me to research this shit essentially all day (probably done a good 50 hours of reading this week), and I still only put in about 0.1% of my net worth into it. I know the risks, but most people have no fucking clue what's going on.

And shit, even I'll admit there's a lot of this I don't understand. And a lot that is obfuscated just by the fact that I don't work on Wall Street and have the info.

I mentioned in Discord that I find it super interesting to consider how much of Wall Street isn't shorted on these stocks, but are now watching like hawks because there's a ton of money to be made.

I also mentioned that I'm sure there are a bunch of quants sitting around figuring out how much of each stock needs to be limited (like GME at 5, and now 2) to ensure they're covered when they ladder these stocks down, so they don't end up completely on their asses.
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I bought 100 AMC after-market at 7.60 and sold it at $15.50 on day 1, 10 minutes after the open. 100% profit. Let it percolate for a day and then sold a truckload of puts with a 50 cent strike. Made 60% profit in a couple of hours when I closed them. Meme stocks are wham, bam, thank you ma'am stocks. I love the Hold the Line shit as theater, but its not a winning formula. for 99.5% of the players. I am fat and happy with my measly 2k realized profit. It has bought me 200 shares of a SPAC that should turn me another 50-100% profit.
 
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