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micronesia
United States24809 Posts
On January 29 2021 03:01 Emnjay808 wrote: The ask price of GME is at 5,000 These boys with 💎 🙌 I’m so rooting for y’all. I’m sad I didn’t buy one share when I had the chance just so I can say I was a part of this. I put in a sell order at 5000 this morning. Wonder if that’s me. | ||
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FiWiFaKi
Canada9859 Posts
Bought a couple protective puts with earnings yesterday an hour before close from . Looks like I didn't buy enough, sold them at 14.5 today. Down only 4k because of that (would have been closer to 50k otherwise), which is a relief, but man, I was so bullish on today. Guess I'll hold BB from here, I dunno. | ||
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{CC}StealthBlue
United States41117 Posts
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FiWiFaKi
Canada9859 Posts
On January 29 2021 04:21 {CC}StealthBlue wrote: So there is speculation that Citadel reloaded their shorts across the board before Robinhood banned trades on said stocks. If true then they need to head to prison. What I don't understand is how a PRIVATE company can have that much influence in the market. If you care about the integrity of the market, how can you have a private company executing 40% of the trades? They could literally cause a cascading recession if they wanted to. Big eye opener for me, hopefully there's a lot of attention put on it. It's too bad though, because even if there is a lawsuit, they don't have enough equity to cover the cascading effect they caused. | ||
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IgnE
United States7684 Posts
On January 29 2021 04:32 FiWiFaKi wrote: What I don't understand is how a PRIVATE company can have that much influence in the market. If you care about the integrity of the market, how can you have a private company executing 40% of the trades? They could literally cause a cascading recession if they wanted to. Big eye opener for me, hopefully there's a lot of attention put on it. It's too bad though, because even if there is a lawsuit, they don't have enough equity to cover the cascading effect they caused. Are you suggesting there should be government interference in the market-making market? Maybe a governmental brokerage firm? | ||
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ShoCkeyy
7815 Posts
On January 29 2021 03:27 micronesia wrote: I put in a sell order at 5000 this morning. Wonder if that’s me. You’re not the only one. A lot of people are putting selling orders at $5k. I’m just over here buying dips through E*TRADE. Although they stopped letting new accounts purchase AMC and GME, etcc.. which is wack. | ||
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FiWiFaKi
Canada9859 Posts
On January 29 2021 05:31 IgnE wrote: Are you suggesting there should be government interference in the market-making market? Maybe a governmental brokerage firm? Is that a bad idea? Honestly I don't know much about how it works, but keeping the integrity of our markets should be a fundamental right or whatever. Same idea as net neutrality. I'm not sure how you go about achieving that, but strict regulations on how the middle man can act seem important to me. A private company that doesn't need to open up their books doesn't seem smart. | ||
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Gorsameth
Netherlands22696 Posts
On January 29 2021 05:58 FiWiFaKi wrote: didn't regulators epicly fail with the 2008 mortgage crisis? Why would it end differently in this situation?Is that a bad idea? Honestly I don't know much about how it works, but keeping the integrity of our markets should be a fundamental right or whatever. Same idea as net neutrality. I'm not sure how you go about achieving that, but strict regulations on how the middle man can act seem important to me. A private company that doesn't need to open up their books doesn't seem smart. Not saying the current situation is fine and should be kept. But maybe the solution is to not allow this sort of speculative trading to exist in the first place, rather then try to regulate it. | ||
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Erasme
Bahamas15899 Posts
On January 29 2021 06:06 Gorsameth wrote: didn't regulators epicly fail with the 2008 mortgage crisis? Why would it end differently in this situation? Not saying the current situation is fine and should be kept. But maybe the solution is to not allow this sort of speculative trading to exist in the first place, rather then try to regulate it. Regulators were owned by the banks. | ||
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LegalLord
United States13779 Posts
+ Show Spoiler + "From the White House" is really quite amazing if true. No surprise about the money men wanting GME shut down, of course. | ||
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KwarK
United States44428 Posts
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LegalLord
United States13779 Posts
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Blitzkrieg0
United States13132 Posts
On January 29 2021 06:28 KwarK wrote: Smells fake to me. Probably mostly true but I doubt that a low level tech overheard the founder planning a conspiracy. Easiest 20k karma of this life. Plus he got a job offer in the comments. | ||
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LegalLord
United States13779 Posts
On January 29 2021 05:58 FiWiFaKi wrote: Is that a bad idea? Honestly I don't know much about how it works, but keeping the integrity of our markets should be a fundamental right or whatever. Same idea as net neutrality. I'm not sure how you go about achieving that, but strict regulations on how the middle man can act seem important to me. A private company that doesn't need to open up their books doesn't seem smart. Ideally you'd have something like a commission which regulates unusual or harmful securities behavior on the major exchanges. Something that would keep people from behaving in a harmful fashion. Bonus points if such an organization is not also gutted by the direction of the people who would stand to gain from a reduced amount of regulation to make money by playing dirty with market manipulation. | ||
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iPlaY.NettleS
Australia4461 Posts
https://blog.robinhood.com/news/2021/1/28/an-update-on-market-volatility | ||
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LegalLord
United States13779 Posts
Though, I hear Friday was the magic day for many calls to expire worthless at $300, so the market manipulators have gotten what they wanted. | ||
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Kokujin
United States456 Posts
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NrG.Bamboo
United States2756 Posts
On January 29 2021 09:28 LegalLord wrote: GME almost back to yesterday's close in after-hours trading. Can't stop won't stop! Though, I hear Friday was the magic day for many calls to expire worthless at $300, so the market manipulators have gotten what they wanted. Which ones? | ||
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BlackJack
United States10574 Posts
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FlaShFTW
United States10624 Posts
https://www.reddit.com/r/wallstreetbets/comments/l7bpf5/30_seconds_from_triggering_market_nuclear_bomb/gl5vgof/ | ||
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