Down goes the Dow

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VS-SJW-IR-TS idiot wrote:

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VS-SJW-IR-TS idiot wrote:...77 two days ago to 285 in pre-market trading today...

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Make that 344...! Cowabunga, dude!

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VS-SJW-IR-TS idiot wrote:
Here we go again:

https://ibb.co/d4hDQ5w

77 two days ago to 285 in pre-market trading today. That's damn near a 2-day 4-bagger, which must be some kind of record? I imagine this is sustainable growth in Dr. Racket's new normal...

I am going to go out on a limb here and stake my dignity against the young doctor's and declare that GME will be far below $77 come 31 December 2021. And whatever dignity I have left after that (possibly mine plus Racket's plus Igy's from last year's bet), I put up against mas' that BTC will not be anywhere close to being above $40k (where it was when he told us it would continue going up) on 31 December 2021.

I'd like to also bet something on TSLA, but unlike BTC and GME, where I'm pretty confident, I have absolutely NO IDEA what's going on with that stock, and it continues to confound me...

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Dr. Racket wrote:Sustainable? Sure, why not...

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VS-SJW-IR-TS idiot wrote:

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Dr. Racket wrote:Sustainable? Sure, why not...

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Great, it's a bet! $77/share on 31 December decides which of us extends the other their dignity.

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I don't see how GME stays over $50 once the Reddit/Robinhood crowd moves on to the next hot tip. Heck, I don't see how it stays over $77 today.

I must admit, I'm enjoying following the Robinhood group on Facebook. It's dumb and dumber meets the stock market. Great for a few laughs.

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Dr. Racket wrote:I also reserve the right to cancel the bet in the event of highly damaging market-wide external forces, like a meteor hitting Earth or another pandemic.

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VS-SJW-IR-TS idiot wrote:

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Dr. Racket wrote:I also reserve the right to cancel the bet in the event of highly damaging market-wide external forces, like a meteor hitting Earth or another pandemic.

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Is that a millenial thing to do?

As a guy with one foot nearly Boomer and the other foot ankle deep in gen-X, I was raised to call that being a chicken... :-)

For a guy who sometimes criticizes my forecasts as being too vague, you're sure reluctant to offer one yourself...

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Dr. Racket wrote:We Millennials are more cautious bunch ...

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la gente esta muy loca wrote:

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Ghost of Igloi wrote:

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Oh, snap! wrote:

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la gente esta muy loca wrote:

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agip wrote:
Hussman up another 2% today
Huah

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Investing in all those meme stocks is paying off.

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Oh, snap!!!!

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Does not appear to be the case:

https://www.morningstar.com/funds/xnas/hsgfx/portfolio

Oh Sh#t!

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http://portfolios.morningstar.com/fund/holdings?t=HSGFX&region=usa&culture=en-US

Click 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 !

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Market is tanking right now but GME up to $247 premarket after closing at $148

How does it work if I want to short Gamestop?

Is there a strike price and a date, and I have to sell the contract or close on that date myself?

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Swaglord_the_real_one_1_one_1 wrote:
How does it work if I want to short Gamestop?

Is there a strike price and a date, and I have to sell the contract or close on that date myself?

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GME up 116% to $320

the agony of the short sellers is hard to comprehend.

savage.

Here's GME daily trading volume over time, in dollars per day:

https://ibb.co/hWvb7L3

The 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.

I should admit there are some simplifying assumptions skewing the recent $USD volume values, since I've just taken daily volume and multiplied by daily closing price. On a day when price grew ~ 100%, the average traded price would be considerably lower than at the close. Still, from an order of magnitude perspective, the meaning is the same; a distinction without a difference.

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agip wrote:

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Swaglord_the_real_one_1_one_1 wrote:
How does it work if I want to short Gamestop?

Is there a strike price and a date, and I have to sell the contract or close on that date myself?

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if you want to straight up short GME you would ask your broker if she could get a borrow for you.
She would probably laugh and say 'no chance friend can I interest you in a growth fund?'

But if she could get a borrow for you, then you'd borrow the shares and then sell them. The cost would be very very very high. double digits as a percentage, I suspect.

I'd be v. surprised if people can get borrows on that stock...it's a small cap after all. Well it was. Not that many shares outstanding.

You seem to be thinking of using options - I'll leave that to people smarter than me.

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BTC 29,600

down 30% from its highs

things are poppin.

buy if it gets 40% down?