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If that CNBC always follows up like that I wish he were a big time regular anchor.  That was great.

-QG
Maybe if he was such a bulldog toward all his guests, not just some doofus he misunderstood and then misrepresented, all while acting morally superior. Professional gaslighting. But I usually really like the guy. I watch him every day. 

 
I just spent the last 1/2 hour watching CNBC and the open disdain the commentators have for GME/AMC investors is quite telling. The fact that they are all so opposed makes me believe even more strongly that the Redditors are doing good work.
Right.  When the Winklevoss twins noted that they could have one of the wallstreetbets organizers on and give them the same platform as the hedge fund guys the smug anchor just started laughing.

 
It's probably much too late now. But it was probably a safe bet to ride with the hedgefunds on GME stock not continue to skyrocket upwards approaching the 01/29/2021 call. You'd imagine there were a million shares available to short this time yesterday.

I still think it's a good time to go against WSB if possible. These hedgefunds are going to pull off every trick in the book and it just feels like the longer people hold onto this stuff, the worse it's going to get. People won't stop until they have nothing left and I think there's value to riding the opposite side of that wave.

GME is $272. I say it closes at $222 by EOD and then gets eviscerated in AH. A few timely halts tomorrow and everyone is slapping high fives going in the weekend.

 
You have to be realistic here. The reddit community went down last night. RH delists the securities for purchase. The SEC and even the current administration have commented on the GME price manipulation.

If you're investing in these stocks, you're going against some very powerful forces right now and the army you're fighting with is not equipped for this fight.
That's what they said about Washington's army before Yorktown

 
It's probably much too late now. But it was probably a safe bet to ride with the hedgefunds on GME stock not continue to skyrocket upwards approaching the 01/29/2021 call. You'd imagine there were a million shares available to short this time yesterday.

I still think it's a good time to go against WSB if possible. These hedgefunds are going to pull off every trick in the book and it just feels like the longer people hold onto this stuff, the worse it's going to get. People won't stop until they have nothing left and I think there's value to riding the opposite side of that wave.

GME is $272. I say it closes at $222 by EOD and then gets eviscerated in AH. A few timely halts tomorrow and everyone is slapping high fives going in the weekend.
Shorting it seems to be popular. Go for it.

 
Mark Cuban comments:

"“As long as we’re allowing companies to trade stocks in milliseconds, how can we expect this to be an investors market?” Cuban said. “Until you change that, you can’t change what’s happening with WallStreetBets.”

“When you short a stock, there’s a [vigorish] on it,” which is essentially a fee for placing a bet, Cuban said. “You have to borrow it and you’re paying some percentage to whoever owns a stock and is loaning it out. And as someone who has shorted stocks many times, you know when that vig is high, you know exactly what you’re getting into and you know exactly what the risks are and you just hope something like this doesn’t happen.”

He's kind of a tool, but he's a sharp tool.  (I like the guy, and he's certainly right here).
big fan. he should be a role model for billionaires everywhere

 
I don't think the numbers are that 60% of hedge funds use Robinhood, but rather that 60% of Robinhood's income comes from hedge funds.

I'm not sure if that's accurate, but it's been getting thrown around a lot.
Okay, that makes a little more sense.  Thanks.  

So hedge funds use Robinhood's trading platform to execute trades since there is (I believe) no commission to transact.  God, I am old enough to remember trading through brokerage houses that would charge 5 or even 6 cents a share.  Man, they would fly into town every year, take us to the finest steak houses, scotch, cigars, limos, strip clubs.....and then competition rolled in and commissions were cut.  4 cents, then 3....then you had computer programs to trade shares with for a penny.  The fancy dinners stopped immediately and the Xmas gifts that flowed in went from Dom to a card where they donated to the Human Fund on  your behalf.  

Hedge Funds will use myriad houses to execute trades, but unless they want access to research reports, analysts or deal flow, they'll turn to the discount trading houses so commission costs are de minimus.   

 
One more nugget of wisdom and then I have to get some work done. Yesterday, AMC sold their company stock at $4.81 a share. At that price, they thought their company was overvalued. That's a pretty clear benchmark of FMV, yeah?

Price will continue to recede. Less volume means it will recede faster. You should be happy if your AMC is worth $10.00 a share by close. But I don't see why I would want to pay twice as much for a company than the company thinks it's worth. For the price to go up, you're relying on more people to jump on the bandwagon longterm.

I don't have confidence that the public has those kind of balls. Short it.


https://www.reuters.com/article/us-amc-ent-holdg-stock-sale-idUSKBN29W2UP

 
Where can I see current short %'s?  I'm seeing rumblings that GME is still 125% shorted.  I'm wondering if this is accurate.

 
Maybe if he was such a bulldog toward all his guests, not just some doofus he misunderstood and then misrepresented, all while acting morally superior. Professional gaslighting. But I usually really like the guy. I watch him every day. 
okay but that was word salad from Winkelvoss dude.  It is more my sense that most of the tv talking heads are pure awful.

-QG

 
One more nugget of wisdom and then I have to get some work done. Yesterday, AMC sold their company stock at $4.81 a share. At that price, they thought their company was overvalued. That's a pretty clear benchmark of FMV, yeah?

Price will continue to recede. Less volume means it will recede faster. You should be happy if your AMC is worth $10.00 a share by close. But I don't see why I would want to pay twice as much for a company than the company thinks it's worth. For the price to go up, you're relying on more people to jump on the bandwagon longterm.

I don't have confidence that the public has those kind of balls. Short it.


https://www.reuters.com/article/us-amc-ent-holdg-stock-sale-idUSKBN29W2UP
Em doing the lords work here.

 
Well kudos to the 16 year olds on the internet who are actually willing to stick their neck out to try and do something about it.  And shame on the boomer suits that are willing to just accept it and let the little guy get run over for all eternity.
It’s a bit naive to think that this was truly poor nerds versus old white guys in suits. As I posted above, these stock pumps have been happening all year. PLTR blew up in part due to WSB as well and that wasn’t a short squeeze.

There's a difference between "hey this thing is over shorted, if lots of people buy it will create a short squeeze the same way that MMers create short squeezes 2 dozen times a week" and "hey we're losing bad on this trade, let's call the owner of the broker they trade on and tell them to ban the other side from buying this stock we shorted or we will pull all of their funding".

If you can't see the difference there, I don't know what to say.
I’m not a fan of shorts, they cost me a good chunk of change on CYDY before I could sell at the top. I’m not a fan of any manipulation because it’s people like us that get screwed. Again, I think it’s naive to white knight the people who made a #### ton of money squeezing shorts and got in way before their “friends” who will end up holding the bag. I see a difference but I’m not shocked that limits were being added. I might not agree with limiting any buy/sell but I also wouldn’t want too many people end up getting killed because they are buying now. People buying $200-400+ on GME are bag holders hoping for $1000. The MMers are the ones who bought in the teens up to 30s not current buyers.

 
so is everyone looking to take the majority of their positions (GME, AMC, NOK, etc) into Friday?
It will be interesting to see what happens tomorrow.  If shorts are really forces to cover, and there is still a huge amount of shorts compared to the float, then I have to believe that these things are going to absolutely moon.

Now if the information on having to cover by tomorrow is incorrect, then I have no idea.

 
I wouldn't disagree with you.  But I'm not savy enough nor do i have the risk tolerance.
You are plenty savy.  Not much different risk than an index fund if you go with 20-30 stocks minimum and no more than 5% in any one company.  Your index funds can be heavily tied to FANG.

I actually sold some. For I think the first time ever.

So of course it will shoot up to the moon now. 🚀 🚀 🚀
Good, then we'll sell more at a higher price and buy it back on a future pull back.

AOC is going to be calling some CEO's to Washington to explain themselves as to why they locked out retail investors from stocks.

https://twitter.com/AOC/status/1354830697459032066
I may take this to the political forum, but how is a company restricting stock sales on certain individuals any different than banning certain people from their platform?

 
I can't keep up during the workday, but there's a bunch of gold in here. Good work everybody.

My trading account is 80% cash and likely to stay that way for now.

 
Buying back some of the KR I sold yesterday as it's about 13% lower than where I sold.  Also buying back the UUUU I sold for about a 15% discount.  Trimmed Twlo 20%

 

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