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Campfire Ranger
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Campfire 'Bwana
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Campfire 'Bwana
Joined: Aug 2003
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What was the stock selling for when it was shorted and what is it now? IIRC when GME kicked off it was 5 bucks a share. Why hedge guys are shorting 5 dollar stocks is beyond me.
Me
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Campfire Ranger
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Campfire Ranger
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Campfire Ranger
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Campfire Ranger
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Thos doesn’t seem to bode well for the future of hedge funds in general.
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Joined: Oct 2010
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Campfire Outfitter
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Campfire Outfitter
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What was the stock selling for when it was shorted and what is it now? The short sells started getting noticeable when it was around the $10 mark. Around the middle of this month when GME climbed up to about $20 on good news the shorts started selling a lot of calls, to the point where something like 140% of the total shares outstanding were being shorted. What is happening is a mix of a squeezing the (((people))) who shorted the stock and have unlimited risk, and putting gamma pressure on the call (((writers))) so they can't hedge or at least it is very expensive to hedge. (((Melvin Capital))) needed $3BB from their fellow hedge funders to close out their position yesterday. It looks like (((Citron Research)) closed theirs today and it will be beautiful to see what it cost them. If any regulatory changes come out of this it will probably be limits on options so retail investors can't get leverage like this again. Levers long enough to move the market are usually reserved for (((the financial elite))).
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Joined: Dec 2013
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Campfire Outfitter
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OP
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I saw on Twitter that the short sellers lost $14.3 billion today on GameStop.
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Campfire Regular
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Fuuuck em.
They will be coming after it all pretty soon. You think your 401k is safe?
Think again. It’ll need to be redistributed the social good. Just look the world over.
It’s coming.
“Always do sober what you said you'd do drunk. That will teach you to keep your mouth shut.” ― Ernest Hemingway
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Campfire Ranger
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Campfire Ranger
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"All that the South has ever desired was that the Union, as established by our forefathers, should be preserved, and that the government, as originally organized, should be administered in purity and truth." – Robert E. Lee
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Joined: Sep 2011
Posts: 45,115
Campfire 'Bwana
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Campfire 'Bwana
Joined: Sep 2011
Posts: 45,115 |
The Algorithms work until everyone starts splitting kings and hitting on 17.
It's like the end of Trading Places, but in real life. Love that analogy. Splitting kings is not necessary bad business, but a damn good way to piss off the table. In a single deck game with 4 other players and 4 aces still out there after the first round ...................it is certainly not bad business. But, depending on where I'm sitting, it just might pissmeoff immensely
The desert is a true treasure for him who seeks refuge from men and the evil of men. In it is contentment In it is death and all you seek (Quoted from "The Bleeding of the Stone" Ibrahim Al-Koni)
member of the cabal of dysfunctional squirrels?
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Posts: 12,093
Campfire Outfitter
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Campfire Outfitter
Joined: Sep 2009
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The peasants are literally storming the financial castles of the elite and nobody on here has even mentioned it. Really? The Gamestop shorts getting killed has a lot to do with the overall drop, IMO.
Next couple of days might be pretty sporty.
Hedge funds have to be sweating bullets on their exposure to naked short positions and how a few million day traders can get organized. Power to the People! haha. Some big money dudes losing their a$$ this week. Just watch, now the Bigs on Wall St will be clamoring for more " regulation " to protect their monopoly. Luckily ( I didn't even look at the short interest, just chart pattern) I had started a position in AMC earlier this week. That will buy some primers that I'm short on. MAGA
John Burns
I have all the sources. They can't stop the signal.
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Joined: Jan 2006
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Campfire Ranger
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Campfire Ranger
Joined: Jan 2006
Posts: 19,816 |
I kinda enjoyed watching the fortunes won and lost on GME, but in all mathematical fairness, I'm not sure it should be possible to short more shares than actually exist.
"Be sure you're right. Then go ahead." Fess Parker as Davy Crockett
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Joined: Sep 2011
Posts: 45,115
Campfire 'Bwana
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Campfire 'Bwana
Joined: Sep 2011
Posts: 45,115 |
I kinda enjoyed watching the fortunes won and lost on GME, but in all mathematical fairness, I'm not sure it should be possible to short more shares than actually exist. You mean like "There oughta be a law" ??
The desert is a true treasure for him who seeks refuge from men and the evil of men. In it is contentment In it is death and all you seek (Quoted from "The Bleeding of the Stone" Ibrahim Al-Koni)
member of the cabal of dysfunctional squirrels?
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Joined: Apr 2010
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Campfire Ranger
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Campfire Ranger
Joined: Apr 2010
Posts: 20,683 |
I’m too old to be playing that game any more, but it’s a wild ride.
I’ll sleep easy tonight. In that game it’s not easy to stick it to the man.
Well done young bucks !
I'm pretty certain when we sing our anthem and mention the land of the free, the original intent didn't mean cell phones, food stamps and birth control.
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Campfire Outfitter
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Campfire Outfitter
Joined: Sep 2009
Posts: 12,093 |
I kinda enjoyed watching the fortunes won and lost on GME, but in all mathematical fairness, I'm not sure it should be possible to short more shares than actually exist. Shorting is always a futures play. You have the time of the contract to purchase the shares. Better get busy. Sure going to suck buying @ 350$ to fulfill @ 18$. Reap the Whirlwind. https://twitter.com/DonaldJTrumpJr/status/1354643375610322945
Last edited by JohnBurns; 01/27/21.
John Burns
I have all the sources. They can't stop the signal.
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Joined: Jan 2006
Posts: 2,787
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Campfire Regular
Joined: Jan 2006
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I had fun with it all day today. Got about two hours of sleep last night, but it was worth it!
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Joined: Oct 2010
Posts: 7,682
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2010
Posts: 7,682 |
I see in extended hours it reached $420 so that's another goal down. If $1000 falls before close today, then $1488 before Friday close would be in the bag. This bit of elitism from the shlimazels at Citron didn't hold up well.
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Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2010
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Things that make you go.... hhhmmm. I did a good bit of work on real estate in and around Brooklyn, and it would not surprise me at all if those Jews had that Verizon fiber cut to slow this thing down. (((They've))) issued Order 66 to activate their shabbos goyim. Elizabeth Warren issued a statement. A couple of brokerages have put reduce only restrictions on GME and AMC, and AMC announced a dilution. The cool thing about this, is it will provide insight into some market mechanics that were previously dark arts.
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Joined: Jul 2006
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Campfire Tracker
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Campfire Tracker
Joined: Jul 2006
Posts: 4,813 |
So how does this thing end? My guess is in a massive bear market at some point in the not too distant future. If I knew when I would tell ya'll and we would all get rich together. I remember this exact same talk about the "little guy" being "empowered" and "they don't control it WE do" when Etrade first came out in the late 90's early 2000's when that bubble was riding the crazy train. The people squeezing the short sellers today probably were in diapers. God I feel old. Anyway like another person said how in the heck do you short a low float stock and make it public anyway? That is democrat voter stupid right there.
"Men must be governed by God or they will be ruled by tyrants". --- William Penn
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Joined: Jul 2007
Posts: 570
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Campfire Regular
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This a fascinating thing going on
On one hand it looks like a buch of little guys sticking it to "the man " but why? That is a big financial risk just for revenge.
Or a bunch of folks working together to move the market to make a pile. But that takes coordination, and you have to cash out of your position to make money, and when thet srart cashing out this thing will drop so fast a lot of those folks wont get out on time.
That leaves my third thought, a major player (China?) , causing a disruption in our markets to weaken us. I do believe there are people jumping in now that there is momentum to this, but I think a larger player started this.
Sort of ironic, the folks that think they are sticking ir to the big guys, are following an even bigger player.
Dunno, I am just a dumb farmer, but something seems off to me.
�Any man who thinks he can be happy and prosperous by letting the government take care of him had better take a closer look at the American Indian.� - Henry Ford
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