Salute !!

i think, most of us knew/know, that they have unlimited cash, and one Melvin dies, 10 more will take its place.

but, that doesn't matter

Well it does matter if people are pushing the narrative they are doing it for the small people when the majority of the pie is still growing and owned by the elites.

Sure there are retail traders there that made money and good for them but if that pie is small and you all have infused even more cash to other elites then that creates a whole lot of other problems.


If you all are going for tendies then just say it and not use the guise of fighting those elites.


.................................................

The big holders for anyone interested

https://news.gamestop.com/stock-information...ional-ownership



This post has been edited by zacknistelrooy: Jan 29 2021, 09:06 PM

why would the narrative matter when the mainstream media spun their versions anyways?

like i said, the pie, or even the tiny bit of crumbs that fell off that ginormous pie, were the only thing the plebs are attacking, sure, why not.
It mattered to most (i cannot speak for all) of us because it sent a very clear message to those pie holes and it hurt them where it actually hurt. not about their money, not about their pie. they have unlimited probably.

also if you've watched that interview with WeBull CEO, it is eventually evolving into an international crisis as the shorts continue to hold and pressure increases.
they HAVE to exercise all the shorts unless they want to bankrupt America (exaggeration, obviously)
and it is slowly evolving into an international crisis because there people outside of America (like here, on Lowyat forums) are getting that money, American dollars, from this fiasco.

Yes tendies are nice of course, especially when you get to add a kick to the already dying/dead Melvin
it really doesn't matter much if we're going ONLY For tendies, or fighting the greater good HODL UNTIL ZERO/UNTIL SOME MEN IN SUIT BLEED DRY.

We can't help it if Foss and some others get a free ride. If one can make good money legally in a short time (and this will likely be a 1 in a lifetime opportunity as I'm sure SEC will start tightening some rules, most people will grab it even if it means some horrible people also profited out of it). Of course there are the minority that will not do so because of Foss and other reasons. To suddenly change the law halfway will cause a lot of the common folk lots of loss $ and strengthen the hedge funds perception of invincibility and getting away with just a slap of the wrist.

The strategy to squeeze is a good one. Its just the hedge funds that shorted never expected the common folks (and of course bigger traders etc) to bandy together and outsmart them. When you short a stock, be prepared for infinite loss (look at volkswagen and KIOS short squeeze). The shorts were too greedy and lack of prudent money management. Also, stubbornly holding to their shorts or doubling down when the price was moving so high so fast.


The thing I'm more worried about are 4 things:
1) What rules will SEC introduce that will hurt the common folks

2) The people have already been going around trying to short squeeze some stocks (with less short holding interest) and even stocks that are hardly shorted and they were very successful until the brokerages put a stop to it. Look at KOSS, EXPE, ACRM, CTRM, NOK and others. The thing is short squeeze limited to 1 stock because of the stupidity and greed of hedge funds is ok. But to go around to keep pushing up price multiple times with various stocks is not good strategy for everyone as ultimately rules that will hurt the people will be introduce and the rules usually aren't that good

3) What will the brokerages do moving forward that will cause more harm to the people (eg: increase commission rates)

4) What will other countries start doing


The thing is SEC can actually curtail much of it by imposing certain rules:
1) Short interest in each company limited to x%. Each hedge fund can only short certain % of their capital/the shorted company

2) Increase margin for the shorts (a ladder that if you short more, the higher the % margin required--sort of like an individual tax rate) thus making it much less desirable for hedge fund to hold large % of shorts)

3) If it can be clearly seen the there are bands of people pushing up price too far too fast (without a good fundamental reason), then make it unlawful (this is the hardest part of the enforcement). This will prevent point #2 (what I'm worried about).

But SEC should not suddenly disallowed trading of GME or other stocks currently as these rules have not existed at the time these squeezes are happening. SEC has been laxed and slow in coming out with the necessary regulations in this area.

Some people think that what is going on will ultimately be bad (not just common folks losing $) but what would ultimately come (eg: what rules will SEC implement). The thing is if one really understand the situation and know how to craft good regulations, it will ultimately be better (but in this area I'm pessimistic as to the ability of the regulators /agencies to do that)

JMHO

This post has been edited by abcn1n: Jan 29 2021, 09:48 PM

i'm adding another reply on top, that yes, i am acknowledging and agreeing with you that this will create a lot of other problems, and some baddies / elites/ titans WILL profit out of this. probably more than that one Melvin lost.

However, if all this does not get highlighted, the status quo remain, when does it end? until a bigger global economy crisis when someone did a bigger oopsie?

Just waiting to try out this thing.

Right now in eToro, it says GME is 197.62 in the buy section.

When the market opens, it might shoot up to 400+ because of off-market/pre-market ongoings, yes?

yes

pre market is at 348 currently

not into malaysian goreng stocks, its controlled by a cartel and liquidity is low.

remember peeeps, once it happens, its free for all. every man/woman for himself. dont be left holding the bag.

Very risky trade, be careful.

F when the LIKE BUTTON IS BROKE

opening rocket 420, dip to 350 then HALT

Still says no buying on off-market hour though. I was expecting they'd hold out on letting people buy. Guess just have to wait...

market halted.

SUITS ARE TREMBLING

=edit=
i managed to buy at 393 a friend 410 before market halt, so you CAN buy on eToro

This post has been edited by Quazacolt: Jan 29 2021, 10:37 PM

RH limited to 5 units per account LOL what a joke

Oh, after I click on the buy column in my watchlist, then set the amount, then click on the "open trade" button, nothing happens. Just need to refresh again and again?

edit: oh! it was because i put cents. after making it a nice round number, it went through.

edit2: i guess that didn't matter cause it went through regardless with or without the cents, haha.

This post has been edited by borneoman1: Jan 29 2021, 10:52 PM

yeah need to spam it


===



https://finance.yahoo.com/quote/GME/key-statistics?p=GME
Shares Short (Jan 14, 2021) 4 61.78M
Short Ratio (Jan 14, 2021) 4 2.81
Short % of Float (Jan 14, 2021) 4 226.42%
Short % of Shares Outstanding (Jan 14, 2021) 4 88.58%
Shares Short (prior month Dec 14, 2020) 4 68.13M

https://www.marketwatch.com/investing/stock/gme
121.07% <--- 1% INCREASED


WTF HOW IS IT EVEN LEGAL TO CONTINUE SHORTING MORE?!

it will either say your position is open or unable to place order.