Bought INTC.
Bought INTC.
thedub wrote:
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.
VW was not similar no matter how much WSB wants you to think it was. I swear to God I could drown myself with the amount of low effort posts comparing the two.
Porsche was attempting a corner on VW to gain a controlling stake and this was possible because of some weird German laws where half the company was like state owned or something. When they ran out of stock to buy they took out huge loans and YOLO'd it on options they could exercise later to get more stock. It worked until the whole world collapsed in 2008 and banks called in all of Porsche's loans at once before they could complete the corner.
VW used the leverage of their new stock price to force Porsche (who was now hemorrhaging money every second) into a merger and it became a VW subsidiary.
This is more like a traditional short squeeze. Results are similar but methodologies are different and outcomes may not be the same. That's tbd.
agip wrote:
Dr. Racket wrote:
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.
How on Earth did Melvin think it wise to short a $4 stock at 140% free float.
Too bad Mas is busy at the Federal Reserve printers because he loves to point out that most on Wall Street are straight up retards. Just the blind following the blind
short squeezes are unusual but there's one every once in a while. Not too rare.
the hard part is knowing if a 50% gain is the squeeze..or 100%...or 1000%. it's all irrational so you are betting on how crazy things will get, not any sort of fundamentals.
la 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
i sold at 34,300 and bought back 30% at 30,500. Will buy more if it revisits 29,500.
did a quick in and out on GME for a little profit this morning. Hope i can resist the urge to do it again.
Bought a little tech ETF on the dip and some FB in anticipation of good earnings after market close today.
To show how hard squeezes are to handle...
this insider thought he was a genius, selling after the stock doubled.
Then it went up another $300/share.
He sold 810,000 shares 14 days ago.
those 810,000 shares would be worth $300 million now, if he could legally sell them.
head slap.
Still got $18 million apparently. But still.
WOLF KURT JAMES
Director Sale at price 19.99 - 31.08 per share. Indirect 17,190,000 Jan 13, 2021 810,000
agip wrote:
To show how hard squeezes are to handle...
this insider thought he was a genius, selling after the stock doubled.
Then it went up another $300/share.
He sold 810,000 shares 14 days ago.
those 810,000 shares would be worth $300 million now, if he could legally sell them.
head slap.
Still got $18 million apparently. But still.
WOLF KURT JAMES
Director Sale at price 19.99 - 31.08 per share. Indirect 17,190,000 Jan 13, 2021 810,000
I would be really anxious holding something like that overnight in anticipation of it gapping down.
As they say, nobody ever went broke taking a profit.
seattle prattle wrote:
agip wrote:
To show how hard squeezes are to handle...
this insider thought he was a genius, selling after the stock doubled.
Then it went up another $300/share.
He sold 810,000 shares 14 days ago.
those 810,000 shares would be worth $300 million now, if he could legally sell them.
head slap.
Still got $18 million apparently. But still.
WOLF KURT JAMES
Director Sale at price 19.99 - 31.08 per share. Indirect 17,190,000 Jan 13, 2021 810,000
I would be really anxious holding something like that overnight in anticipation of it gapping down.
As they say, nobody ever went broke taking a profit.
yeah that's one reason I'm a terrible trader. I make 10% and I'm so excited and terrified of losing it that I sell immediately.
agip wrote:
seattle prattle wrote:
I would be really anxious holding something like that overnight in anticipation of it gapping down.
As they say, nobody ever went broke taking a profit.
yeah that's one reason I'm a terrible trader. I make 10% and I'm so excited and terrified of losing it that I sell immediately.
I've been thinking about this since posting, and the 18 million in profit, presumably he has been in it a long time as an insider.
How much money can you spend in one lifetime? Eighteen million would do it for me. So anything beyond a few mill is water over the bridge or whatever that expression is. I would do like he did and when it seems too good to be true, lock it in for a realized gain, money in the bank, because anything more (if he was lucky enough to realize it) would not be something he would fully enjoy anyways, in one sense.
As for the 10% and I'm good (out), it would depend what it is for me. For something reasonable, i would let it ride, but for GME, i would bail at even 3% if it got dicey or i wanted to limit my loss.
lol pretty sure I could spend 18 million in a day. My magic number is 5 billion (in today's dollars).
Got a lot of sh!t I wanna do
I read the post first, before looking at who posted it, and sure enough, i knew this was you before even seeing the handle to confirm it.
I live beneath my means. I admire you for being able to enjoy it, though.
* and there's nothing you couldn't do perfectly well for $10 million.
Five billion?!
Learn to live on a budget,
That said, there's a young autistic dude over on Reddit gonna be facing these questions real soon, if not already ....
This ALONE would be $400,000.
I dunno, I that Racketopolis is correct. 9 zeroes needed.
agip wrote:
This ALONE would be $400,000.
I dunno, I that Racketopolis is correct. 9 zeroes needed.
https://bringatrailer.com/listing/1973-ferrari-dino-5/
I think it might be a little too low for a hitch mounted bike rack, so i'd have to pass.
Apparently some reporter asked Jerome Powell what he thinks about GameStop, and they asked Jen Psaki if the White House had any comment lol
Dr. Racket wrote:
Apparently some reporter asked Jerome Powell what he thinks about GameStop, and they asked Jen Psaki if the White House had any comment lol
Didn't hear that, but just a mention of it during an interview would gain massive exposure. I agree with his statement that it isn't something he would normally comment on.
seattle prattle wrote:
Dr. Racket wrote:
Apparently some reporter asked Jerome Powell what he thinks about GameStop, and they asked Jen Psaki if the White House had any comment lol
Didn't hear that, but just a mention of it during an interview would gain massive exposure. I agree with his statement that it isn't something he would normally comment on.
GME feels like the Netscape IPO - something that caught the nation's attention
Will probably bring more money into the market.
Powell should comment on it since he is instrumental in creating such nonsense.
FB earnings i guess not so good, as dropping a few percent after hours.
But Apple announces today, and not sure how i missed seeing that. They usually announce at least a half hour after closing.... tick, tick, tick.
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