Ferrus wrote: ↑Thu Mar 11, 2021 4:22 pm
I have the app ready to go the next time Reddit gets into a lather.
Which app? Robin Hood?
DJ Drug Problem wrote: ↑Thu Mar 11, 2021 5:41 pm
Yeah I bought some early just based on how much they were shorting and then started regretting it when I saw how much they could fuck with it illegally.
At what point did you buy? (If you don't mind me asking.)
Was thinking of buying one stock when it was around $300 just for shits and giggles, but couldn't figure out how to buy in Chile, how the tax stuff would work, etc., so decided against it in the end.
I'm planning on selling 20% to cover costs if the hedgies ever let it clear 350 and then holding the rest for "the moon". If I knew they were just going to keep mini squeezing it monthly I would sell it all either this or next week and then buy the dip for more shares but honestly I have no fucking idea. No retail trader can possibly know what this thing will do, as one redditor put it "this thing has been fucked front back and sideways".
This shit here is especially a brainfuck. (Those perfectly matched vertical lines at the end have never occurred before in the history of the stock market). We're literally watching the money gods wield AI to do battle. It kind of reminds me of the end of House of Suns where the androids do battle to decide the fate of the humans.
The only thing we can really be sure of again as others put it "they wouldn't fight that hard if there was nothing there." Personally I think it's going to go completely apeshit before the month is over but I'm a mark and my only good decisions when it comes to headgames depends totally on the quality of input of others.
https://old.reddit.com/r/GME/comments/m ... ow_before/
Yeah, it's hard to figure out what all is going on. There were a lot of posts on Reddit claiming that news outlets reported the big plunge yesterday before it even happened, but seems it was based on unreliable Google timestamps. I also saw those graphs but nobody seemed to have a good answer for what was happening. There's a general sense of skull-fuckery, but nobody can seem to pin the tail on the donkey.
There's also lots of speculation about the source of trades, when the big short squeeze will happen, what the FTC might do, how long the stock will have short-sale-restrictions (SSRs), what options become available when, what effect all these factors might have, etc.
It really seems to require a lot of dedication to keep on top of all the goings on, like apparently even most professionals in the area had not heard of these gamma squeezes before. And aside from that, a lot of the Reddit summary threads point elsewhere to read more about topics, which often just the start of a rabbit hole where nothing is clear.
Well I guess that's all part of the game.
But after the big dip and recovery yesterday, I think it's showing itself to be resilient at the current price. For all the shit that's been thrown their way, they've managed to hold steady, which is perhaps a good predictor of what will happen when further shit inevitably goes down.
What I don't really understand is whether or not the price needs to go up more (triggering gamma sequences) to initiate the big short squeeze, or if it would suffice to hold at the current value and wait for contracts to be due. I think what would now cause the value to dip significantly right now would be some reliable source of information that there's no short squeeze coming (not sure if such a thing is even possible to confirm/reject).
Senseye wrote: ↑Thu Mar 11, 2021 6:01 pm
I added GME to my watch list just for fun. I generally don't make wild speculative investments although I am determined to take a few risks these days with some play money.
But if I am going to invest speculatively, I at least want something I think has promise. So something like Tesla or some other 'great new thing' I would consider (too late now) but things like bitcoin and Gamestop which I think are generally worthless, I tend to avoid. Not that one can't make money if the roulette wheels spins your way, but it's not like Gamestop, as an example, being an old fashioned bricks and mortar retailer selling digital products (and some hardware) has anything going for it.
I think it sounded a bit like Gamestop was being undervalued at the start of the journey, like when it was at $3/share or something. I think there is more of a place for something like Gamestop than Blockbuster, say. Of course the current value of GME has little or nothing to do with Gamestop right now.
I think you are possibly being too harsh on Bitcoin. It is in a way a "great new thing".