VS-SJW-IR-TS idiot wrote:
Here's GME daily trading volume over time, in dollars per day:
https://ibb.co/hWvb7L3The past few years, and average of $50M has changed hands daily, compared with $26B yesterday. That's a sizable percentage of the total daily trade volume in the US markets (something like 15-20% average daily volume).
Dr. Racket, do you still think this is sustainable? Here, I'm looking for you to use some critical math thinking skills.
k
agip wrote:buy if it gets 40% down?
I'll repeat my forecast for this year: $6-15K by the end of the year.
That'll be $0.02 :-)
Dr. Racket wrote:k
I'm not seeing the mathematical rigour there doc...
Can you see a sustained future with GME representing ~ 10% of the money changing hands daily on the US market?
Near-boomer here talking, but to me this says GME will be closer to a penny stock than a large cap by the end of the year. Still, my dignity's only on the line for over $77, which seems a hugely safe bet. :-)
VS-SJW-IR-TS idiot wrote:
Dr. Racket wrote:k
I'm not seeing the mathematical rigour there doc...
Can you see a sustained future with GME representing ~ 10% of the money changing hands daily on the US market?
Near-boomer here talking, but to me this says GME will be closer to a penny stock than a large cap by the end of the year. Still, my dignity's only on the line for over $77, which seems a hugely safe bet. :-)
Magic 8-ball says : idgaf
Gruntz wrote:
la gente esta muy loca wrote:
http://portfolios.morningstar.com/fund/holdings?t=HSGFX®ion=usa&culture=en-USClick on YTD Return.
4 out of the top 5, all up over 100%, are meme stocks. GME, PLUG, SPWR and BBBY. I would think he has taken some profit by now, but he probably still has a position in those names. He had a large position in ZM early last year which he has been reducing each quarter, that seems to be his M.O..
He has also been less aggressive with his use of options. You can tell just by cash allocation, 31.2% to over 50% in recent years. Stopped selling ITM calls and buying OTM puts on$NDX; actually was long calls for Oct. It seems he's back to running a market neutral strategy instead of a short bias. Probably a sign the market is going to crash. ( still selling ITM calls and buying OTM puts with $SPX and $RUT )
By the way, a person who invested with Bernie Madoff is almost 80% whole, HSGFX - less than 55% since 9/2008 !
Igy, is this what you meant by getting “owned”?
?
Actually you are owned, since I am a shareholder.
agip wrote:
BTC 29,600
down 30% from its highs
things are poppin.
buy if it gets 40% down?
Meanwhile, XRT
https://www.barchart.com/etfs-funds/quotes/XRT/technical-chartla gente esta muy loca wrote:
agip wrote:
BTC 29,600
down 30% from its highs
things are poppin.
buy if it gets 40% down?
Meanwhile, XRT
https://www.barchart.com/etfs-funds/quotes/XRT/technical-chart
oh man what a cluster situation.
the stock market is....not always efficient.
With GameStop up 110%, to $310.97 in early trading Wednesday, the XRT ETF has gained 8.3%, to $88.16. GameStop represented about 10% of the $800 million fund as of Tuesday’s close and is even higher now.
GME up to $380
market cap is $27 billion now, if yahoo shares outstanding is correct.
still only 3.5x sales...I actually know retailers with higher p/s than that.
who can work with these fireworks going on?
agip wrote:
GME up to $380
market cap is $27 billion now, if yahoo shares outstanding is correct.
still only 3.5x sales...I actually know retailers with higher p/s than that.
who can work with these fireworks going on?
gonna be worth more than Simon Malls soon lol
someone I know is doing vaccinations in a rural state...the state's guard is doing the operation.
apparently soldiers are day trading on their breaks.
Oh merde. That has to be very very very very bad.
problem is that this could go on for a long time before it dies.
agip wrote:
someone I know is doing vaccinations in a rural state...the state's guard is doing the operation.
apparently soldiers are day trading on their breaks.
Oh merde. That has to be very very very very bad.
problem is that this could go on for a long time before it dies.
Long term, I think options are gonna end up getting restricted somehow, maybe only covered options in the future
agip wrote:
la gente esta muy loca wrote:
Meanwhile, XRT
https://www.barchart.com/etfs-funds/quotes/XRT/technical-chartoh man what a cluster situation.
the stock market is....not always efficient.
With GameStop up 110%, to $310.97 in early trading Wednesday, the XRT ETF has gained 8.3%, to $88.16. GameStop represented about 10% of the $800 million fund as of Tuesday’s close and is even higher now.
As racket pointed out, puts are ridiculous on GME, seems many are buying puts on XRT instead.
27-Jan-2021 Volume 146,783 Call 7.3% Put 92.7%
Here is good explanation of how this works.
https://nope-its-lily.medium.com/gamestop-power-to-the-market-players-part-2-6ef00eff1d26SO !!!
MUCH !!!!
FUN!!!!
Bed Bath & Beyond Inc. (BBBY)
48.11+11.24 (+30.49%)
As of 11:25AM EST. Market open.
agip wrote:
SO !!!
MUCH !!!!
FUN!!!!
Bed Bath & Beyond Inc. (BBBY)
48.11+11.24 (+30.49%)
As of 11:25AM EST. Market open.
What happens when every short position on NYSE closes because of this?
Ghost of Igloi wrote:
Gruntz wrote:
Igy, is this what you meant by getting “owned”?
?
Actually you are owned, since I am a shareholder.
My sympathies.
Dr. Racket wrote:
agip wrote:
someone I know is doing vaccinations in a rural state...the state's guard is doing the operation.
apparently soldiers are day trading on their breaks.
Oh merde. That has to be very very very very bad.
problem is that this could go on for a long time before it dies.
Long term, I think options are gonna end up getting restricted somehow, maybe only covered options in the future
Day trading requires a $25,000 balance; they'll probably restrict option trading, even if it doesn't meet the criterion of pattern day trading. No more trading those stimulus checks.
There are now a ton of algos attached to $BB and $AMC that are bidding and offering directly off of the price action on $GME ....... this is not just WSB, these are prop guys and other predatory hedgefunds that are now involved in moving this thing.
@Ksidiii
la gente esta muy loca wrote:
Dr. Racket wrote:
Long term, I think options are gonna end up getting restricted somehow, maybe only covered options in the future
Day trading requires a $25,000 balance; they'll probably restrict option trading, even if it doesn't meet the criterion of pattern day trading. No more trading those stimulus checks.
There are now a ton of algos attached to $BB and $AMC that are bidding and offering directly off of the price action on $GME ....... this is not just WSB, these are prop guys and other predatory hedgefunds that are now involved in moving this thing.
@Ksidiii
When volatility is this high it opens the doors for major arbitrage moments and that's what algos are searching for right now.
As for the day trading thing, you can still day trade under the 25k by opening positions, you're just limited to how many you can close in a 5 day period. Technically you can get around that and lock in profits by opening an ITM spread in the other direction.
Should be some good documentaries and books about this over the next few years!
Dr. Racket wrote:
agip wrote:
SO !!!
MUCH !!!!
FUN!!!!
Bed Bath & Beyond Inc. (BBBY)
48.11+11.24 (+30.49%)
As of 11:25AM EST. Market open.
What happens when every short position on NYSE closes because of this?
apparently it's a blood in the water thing...
traders are looking through Melvin's short book and trying to spike a short squeeze in one after the next. BBBY is one of those.
I do not feel sorry for Steve Cohen, who threw billions into this maw of disaster and loss.
I am only 22. Been investing for 2.5. years. GME is blowing my mind.
Have you older guys seen anything like this? Or is this a once in a lifetime scenario? I was pretty mind-blown during the covid crash but this is insane to me. I know VW had a similar squeeze but it pales in comparison.