"So You Just 'Raided' Your First Company" - A Letter To Non-Professional Traders
(www.zerohedge.com)
Comments (81)
sorted by:
everyone just hold GME and never sell it again. Keep pumping it until you wipe out so many hedge fund shorts they decide to go long, and then short the fuck out of it.
I worked part time at EB Games/GameStop for many years as a fun side job back when I had the time. I'm pretty familiar with their business practices and corporate culture and I didn't feel like they were headed in a good direction.
I went in there the other day for the first time in half a year or so and the changes they've been making actually give me a little confidence that the company can be sustainable for awhile longer. Hopefully they keep it up.
That's good to hear, I worked for them while I was in college as an assistant store mgr. and it was kind of soul crushing. I think they were forced to pivot and if that means the employees AND the customer can win, then excellent.
we like the stock.
same here. I got two shares for the fuck of it.
I love how every comment ends with I love the stock or im a retard, this is not financial advice.
Print it out and hang it on your wall as a memento to the time you wrecked the corrupt financial system.
Hold and Citadel (brokerage) falls. Citadel is fucking evil and has it's hands in like, half the fucking wall street pie. They wanted a great reset where we'll own nothing and be happy (if we don't own anything, who DOES own it then hmm??)
Fuck that
We're going to give them a reset where THEY own nothing and (we'll) be happy. We've altered the deal, and they should pray we don't alter it any further.
Fucking rights patriot. We are taking our shit back.
You tell em Darth ?
Diamond hands!!
LoL.
Why is this stickied? While it's true that we are not Wall Street Bets, the mod team is stickying this article because it advises caution and a level-headed approach to all the "shorting" that's going on out there among new investors jumping in. Don't get rekt! Be careful out there, bois and grillz. Thank you.
In liberal logic conducting legal trades though register brokers without any insider information is crime, but fabricating shares to illegally scam the market is OK because its a hedge fund run by billionaires is perfectly legal.
Another scared shitless articles by Wall Street. They don’t understand we want all of them to suffer. NO MORE BAILOUTS
Tldr: I read Blah blah blah I am a professional trader You are not Blah blah blah You are ruining everything we have conspired to set up I hate you for figuring this out Death and destruction for me, not you, is surely the end result Stop doing what you are doing because i am a professional trader and you are the unwashed masses and are ruining everything for me, my cronies, and my dem clients. Is that about right?
You forgot "I'm telling you this for your own good. It hurts me more than it hurts you, little stock child."
Looks about right to me.
Nope
Ever.....
It's afraid, gentlemen.
I would second that, they now fear what millions of the “un’s” can do.
"We are scared, please stop"
All these fucking articles, all of them. Solidarity ruins them, but if they can get a few defectors scared with FUD (fear, uncertainty, doom) then they hope to get a slide that will become a self fulfilling prophecy and they'll be able to fulfill their financial responsibilities. You've seen this before, and you shouldn't trust this garbage now more than ever. Zero Hedge isn't your friend in this just because they've been your friend in other matters.
People like this stock, people aren't selling this stock. And there are very few compelling reasons for you to sell either. Those few reasons evaporate the deeper you understand the historic nature of this event.
NPC just doesn't get it. Long story short... if 'youse guys' can play the market so can us retards.
https://files.catbox.moe/4xn7xi.jpg
Market crash go brrrr
I bought a little. Don't care what happens to it. I'm holding. The only fuck you I've been able to get in for sure. Money means nothing g to me without freedom. Would b e willing g to lay my life out there to get and stay free. If this is all that's required we'll its a small thing and poi t me where to buy the. Ext one and I will scrape together so.e bucks anD do it.
I served a Tool and Die apprenticeship in 1975 and worked and saved my ass off so that I could retire at a fairly young age. I retired at 56 and am now 63 with nearly $2 million in Vanguard index funds. (It took a $70k hit last week) I am not a criminal or a crook. I earned every penny and was disciplined enough to save nearly %40 of what I made the whole time I worked. It required sacrifice and living modestly. I was smart enough to learn a trade, and man enough to take my own lumps and not blame "the man" for when things were hard. If you guys are going to wear it like some badge of honor to crash the market to stick it to "the man," just be aware, there are also good and honest folks out there who have invested their hard-earned life savings in the stock market, that you will be hurting too....
Yeah, I took a pretty good hit after 9/11 too.... When I retired I rolled my 401k into a Vanguard IRA, along with a Roth and a regular brokerage account.... I've been very happy with them due to their low fees and the inherent diversity of their index funds. I have US and international stock and bond index funds, and don't own any individual stocks. I have been looking at silver coins. My home is paid for and I am debt free, so that's a blessing....
You should know better, seriously, I appreciate your hard work. I'm also a hard worker but I would never put all my eggs in one basket. That's a hard and fast rule when planning retirement. I look at the stock market as gambling. You are not guaranteed a single cent. I have some small funds in my 401k, physical silver, a little bit of gold, some real estate owned free and clear and some cash on hand. I still have some time before I retire. I would never trust scum wall street with all my money. You might as well play the slots.
As I said, I'm not in individual stocks but various US and international stock and bond index funds.... It's a diversified portfolio, with super low fees, and has performed well, to the tune of nearly doubling it's value in the 7 years since I retired....
'man enough to take my own lumps and not blame "the man" for when things were hard.'
Buy physical silver...
I bought some a couple of months ago. I have been buying gold since 1982. You can buy silver right now at about $28 an ounce.
Noted, I've been looking at silver....
We pulled out EVERY LAST PENNY we had in VANGUARD, they are on the hit list.
In 2018 JPMorganhad 140 million ounces of silver sitting in its COMEX warehouse. That was 54% of the silver supply monitored by the CME Group. That’s a huge deal. But you also need to realize something. JPMorgan didn’t hold a single ounce of silver until mid-2011…That means it built this massive silver hoard in that eight year time span. Read these 2 articles below, see a pattern?
2108--https://www.caseyresearch.com/daily-dispatch/why-this-too-big-to-fail-bank-is-stockpiling-silver/
2020--https://gsiexchange.com/with-jpmorgan-back-in-the-mix-the-hammer-is-now-about-to-fall/
Here's why not to buy silver stocks: One of the silver stocks the shills are saying to buy is SLV. Guess who the 5th larger stock owner of SLV is? It's Citadel, one of the hedge funds who targeted GME stock. They are literally getting dumb people to boost the stock of silver so that they can make more money and cover their stand on GME easier.
https://www.reddit.com/r/wallstreetbets/comments/l9gv98/citadel_is_the_5th_largest_owner_of_slv_its/
Yes, SLV is trash.
Physical silver.
PSLV is a financial instrument that holds physical silver.
You should have invested in gold!
Yeah, never did, but looking at silver....
Bad move giving your money to Hitler, dude.... I heard he wasn't a very good guy..... :) The markets have historically rewarded those who take a long-term view. Speculation has destroyed many more fortunes than it has created, and it’s no way to invest your retirement savings.... I just tune out the noise and stay the course....
OPTT
Only get rekt if you sell. Just hodl. That is all
This article pisses me off because the “raiders” WENT LONG in stocks AND there seems to be no mention that the hedge funds that are causing the imminent danger to the market are basically (to paraphrase this fuckheads driving analogies) DRUNK DRIVING WITH LAMBORGHINIS by shorting 130% plus of the market float.
What a shithead sense of entitlement I got from the author of that article.
FYI- over on r/wallstreetbets they figured out that the hedge fund is actually creating fake stock. They are taking fractional stock and counting it as one whole stock. The thought is that all of wall street is doing this!!
Shorting can get liquidated though...
So my question is at what point will they be force-closed triggering a Great #REKTENING?
He doesn't understand. He thinks this is NOT another investor mania. He calls it a mania, he should head over to WSB and actually read what they are posting.
Its not hopes of greed and profits, its pure hatred for the system and hopes of causing finical pain they are posting.
He doesn't understand this is a concerted effort, with lots and lots of malice, to fuck up the entire market on purpose and profit doing so. They want to bring DOWN the Hedge funds, they want to CAUSE people to lose a LOT of wealth. They don't care if they lose everything doing it, the struggle is what motivates them.
This is people who are not even investing hoping to make money. They are investing to cause chaos, investing to hurt Hedge Funds, and to further destabilize a society they no longer believe in. They are motivated by ice-cold seething hatred, not greed.
Pro Tip. NEVER bet more than you can afford to lose. I ate it in 1987. I never put another dime in the stock market. Thankfully I had been buying since 1982. Gold is generally a safe investment. I should have sold some the other day when it hit $2,000 an ounce. Currently, Gold is at 1863.48. Depending on how things go the way we think it may, it could hit $3,000 an ounce. The price of GOLD is up more than 300% in the past 15 YEARS.GOLD has NEVER been worth $0 and is a HEDGE against INFLATION. PHYSICAL GOLD is EASY to buy and SIMPLE to sell.
It costs BILLIONS to go fight in a war that brings the citizens that pay for it NOTHING in return. Hedgefunds basically sold stock that didn't exist and was caught red handed. I thought this board was to red pill people who don't see it happening. Although there are some that are out to make money, but some like me, who was only able to purchase 1 share at $250 because of being locked out of a PUBLICLY TRADED SPACE..., it's not about the money.. its my very own piece of "land" to show my kids and future grandkids, that money isn't everything. It's OK, to do without for something bigger than yourself. I stood up and did what I felt was the right thing to do and if it drops to $1, so be it. Noone will ever be able to say I hid behind others talking about it, when I have my GME stock tk show.
Best theory on why wallstreet is worried about the gamestock situation -
it exposes naked shorting
Shorts don't expire, they pay interest. And they don't have 4 months, they likely don't even have 4 days.
Right now it's about 30% APY. That's the current stock price of GME (~$300) x 115% the number of float shares (~50million) / 365 per day. (numbers approximate and rounded because math hard)
That's over 40 million in interest per day. Never mind that their positions are so below water they are walking dead. They have dug their graves so deep their only play is literally to keep digging and hope they come out in china. That $3 billion injection that Melvin got from Citadel covers their interest for 75 days at that burn rate, ignoring all their other existing overhead. But that assumes the price stays at $300. If it hits $1,000 they run out of time before March. $2,000 and "Valentines day Massacre" will have a new meaning. It's why they are desperate to run FUD (fear, uncertainty, doubt) articles in press. It's why they are literally committing crimes behind the scenes to drive down and halt further raises. It's why the >$320 closing price leaving tons of options in the money scared the shit out of them. All those in the money options exercising exhausts the brokerage stocks they hold in leverage. That means they have to buy more next week to cover the next round of expiring options if the price continues to rise. There are no new stocks at $300 to buy, shit is about to go parabolic unless they do something, anything!
3 billion only bought the zombie time. To repay their responsibilities at $300 would cost 15 billion. But before Robinhood and others removed the ability to buy new shares 3 days ago, there were multiple documented partial sales as high as $5,400. At that price it would cost 270 billion to repay their responsibilities. At that price interest exhausts their $3billion on Thursday. And that assumes that was the high. It's not.
They are sitting on TRILLIONS in duties and the most they could scrounge up were a few weeks (days) of life support. If they fold, the brokerages must pay out, if they fold the banks must. There is no escape.
They are going to ride their position into the dirt because it's the only play they have. They have to hope they stay solvent longer than you stay (classically) irrational. But all anyone has to do to break them is LITERALLY nothing. More new money comes in to buy rather than sell every day. And every time a "rational" actor sells, it is bought by another "irrational" one who simply likes the stock. The noose doesn't just tighten with every dollar of smart money leaving to be replaced by crayon eating autists, no, the trap door has already been released and the body is already in freefall. You can add more length to the rope, but there's no ground below you and you can't fall forever. There's no slipping the knot, your hands are tied. The story is written, the ending is a few pages beyond. Putting down the book doesn't change how this ends, it doesn't matter if you keep reading or not.
* this is not financial advice, I'm a deplorable dirty poor that lives in a basement and I have not showered yet today
This is a stellar post. STELLAR.
This truth is immutable
I second your thoughts. I have some extra spending. I usually buy silver but I may grab a few shares just for shits and grins.
You should write poetry.
I write critiques of communism on the side and have a dearth of unpublished Star Trek fanfiction. You'd love my my Ferengi episodes.
But the greatest verse you'll ever read will be your grandchild's history assignment on the market crash of the 20's that changed the world - uncertainty spinning in you head over whether it means the one for worse or the one for the better.
This century won't repeat the last, but it will rhyme.
Logged in to reply to this.
Bravo sir. BRAVO
Nothing can stop what is coming
Dude you should make this it’s own post. It’s great
Oh well of course, they all did because they believe we are stupid. While they may be correct in that assumption, we are also, bitter and stubborn. Not selling next week either. I want to see them suffer.
I don't get how this is taking on hedge funds either if they were the biggest holders of GME in the first place. Driving the value way up and then letting them sell to retail investors so they're holding the bag. Shouldn't that also make them tons of money even before shorting it on the way down?
Yeah but I'm saying that other Hedge Funds and big institutional investors can sell their GME shares for big money and leave retail investors holding the bag. That seems like the big guy winning even if a few (or just 1?) hedge funds lose their shirt.
This may be the case but this is the shot heard around the world, imo. They're not stopping with GME. Also, someone posted that a Rothschild owns APEX, clearing(?) house that shutdown the ability to buy the stock this past week. I noticed the name APEX and thought immediately, predator. Then I thought, wow, "hunters become the hunted".
OooOOoOoooOoo
the part that makes this so damaging is that they were shorting 140% of the stock, not just all of GME stock...more than actually exists.
I understand the risk you're seeing, but there's two things to counter that:
2) The broker's business models relies on them holding these stocks. To not hold them would be even more irresponsible than what the shorters have done. To understand that, you need to understand options.
Lots of people last week bought the "option" to buy GME at prices above what it was currently at (I don't know, let's say $80 because I don't want to fucking check the exact numbers)
Now how much would you sell an option to buy a stock at 110% it's existing price? A sizeable amount to be sure. But what about 4 times it's existing value? You're effectively betting that the stock will quadruple in a week. You see that for peanuts right? Obviously. Well a lot of people had calls in that were for $320 or lower. So as the price begins to rise, and it becomes more likely that the price will end above what the strike price is, you as the broker start to get a little nervous. The broker model for this scenario is to quietly buy up more and more stock as the likelihood that you'll be called rises. This demand for stock from the brokers combined with regular upward pressure forcing the broker's hands is called the gamma squeeze, incidentally, and can be an impetus to pump prices too high for shorters to maintain, FORCING them to capitulate, which is the big squeeze. But that's not what this is really about.
We closed this week above $320 despite every dirty trick in their book and while many of those options are simply being sold and settled for cash, a ton aren't. They are being exercised. The guy who paid a small premium to buy an option at $320 is saying "bitch, here's the $320 x 100, gimme my 100 GME stocks you owe me". Even assuming the Broker already has those stocks because they followed the model and incrementally bought them as the price of the stock rose, as of Friday, they are tapped. the fuck. out. Because remember, while $320 was a big price point, plenty bought options at $250, $200, and much much lower. "Bitch here's my $10,000, better have my 100 GME stocks"
Next week will be another round of calls expiring, and the Brokers will have to replenish their GME position - they hold those stocks to leverage the options they sell. Not only are they never in a position to sell them the way you fear, they don't even have them in the same numbers if at all anymore TO sell the way you fear. This week they'll likely have to buy more up. And these are just the weekly option. Monthlies are every third Friday of the month, we're three weeks away from the February monthly, and I can tell you $300 was not on anyone's minds for that either, so Brokers have to buy up to cover those now too.
They are scared for a fucking reason
* this is not financial advise, I'm illiterate and dictate my words to a small immigrant child who types them in return for fruit loops and head pats.
I want to expand on this.
The DIVIDEND that a share of GME is likely to pay out is proportionally less that other options, making the existing price irrational to hold in lieu of others
But the leveraged position of Hedgefunds and Brokers makes the share price UNDERVALUED. This stock is worth thousands, because the position it can pay out is near infinite and the chance of it merely paying out tens of thousands is sufficiently high to make it easily worth the risk at ten times the price.
The price of the stock TRIED to correct to reflect the value of it's position, but was hampered by market manipulation and interference. The hedgies did ladder attacks after market when the people couldn't trade (but they could) to give the illusion of it falling, but people countered by buying up at open. Then the money makers changed the rules for places like Robinhood, requiring them to put up 100% (rather than 2% like normal) of the cash value of every trade, for these few stocks, until the money maker's book on those trades settled (every trade usually takes a few days to sort out in practice, even though it's mostly instant for you.)
The effect of that was that they had to limit buying, which meant that Hedgies felt they could safely perform ladder attacks in the open during market hours. They partially succeeded because they reversed a soaring price that hit $480 in just an hour after opening, into a sub $200 dive in the next hour or two. Since the market was open during this attack they were able to trigger a number of stops and crash out positions on margin. And they would have gotten away with it, except the market knew these prices were a bucking bargain.
People outside the US who could still buy on their platforms rallied and gobbled up all they could at these prices, as well as US customers after they frantically moved and set up accounts on platforms they found that could still buy. The market is trying to correct up, and they are trying everything in the book, legal or not, to stop it from rising UP to a price which better reflects it risk/return ratio. Even $300 is a steal compared to whatever that is.
THIS is the whole point.
Wall ST has been laundering money. Tomorrow is Freedom Day, as everything starts to implode. Organized short squeeze the whole damn things to the ground!
GME and silver. HODL!!
Here's why not to buy silver stocks: One of the silver stocks the shills are saying to buy is SLV. Guess who the 5th larger stock owner of SLV is? It's Citadel, one of the hedge funds who targeted GME stock. They are literally getting dumb people to boost the stock of silver so that they can make more money and cover their stand on GME easier.
https://www.reddit.com/r/wallstreetbets/comments/l9gv98/citadel_is_the_5th_largest_owner_of_slv_its/
The point is to buy PHYSICAL silver, not paper. That doesn't help them.