1st off if you don't know, Jim Cramer is the biggest paid financial shill for Wallstreet. His job is to get dumb money to invest in dumb things. His track record is soooo bad there's no other expiation. You can actually do well on stocks and beat the market by doing the opposite of what he says.
CNBC just used 30 minutes of time that was scheduled to be part of a normal hour of Shark Tank.
Every day at 5 PM Pacific the news on CNBC ends and Shark Tank begins. This Monday was no different, except the stock market saw the NASDAQ take a -4%+ drop and DOW take a -3%+ drop only to recover, and like another post on this sub pointed out, that’s the most significant drop and recovery in a trading day since October of 2008. Eesh.
So why does Shark Tank matter? Shark Tank is a ratings monster. There’s a reason it is first up in prime time every single day on CNBC. There’s a reason I watch it every day other than just wishing I could make a bunch of fucking money for some other reason besides just all the money I plan to make on GME (so I could then throw it all into GME and make more). But besides all that, it would take a lot for CNBC to just skip over 30 minutes of Shark Tank. They wouldn’t give up all those eyes for nothing, unless they wanted them on something. And guess what they had on.
They had fucking Cramer. And he was shitting on retail traders like normal, but he was also desperately sending a message. And that message was that we are not in a recession and everything is okay. He tried to say that now is the time to buy. That buying in this uncertain time is the antidote. They gave Cramer 30 whole minutes of Shark Tank time so he could plead with the working man to keep buying, keep bag holding as we veer off of the cliff, because we are veering hard. He knows it, CNBC knows it, they mentioned it on the show.
They literally said, you can taste it. Regular people can taste it. Wild statistics like the dip and recovery today being the biggest since October 2008 are piling up, we are seeing the writing on the wall clearer and clearer and the dumbest of smooth brain non-apes who invest in mutual funds are starting to hear little birds telling them something is off. And they’re starting to question their masters, and CNBC has to take the time to inject an extra fat dose of it-will-be-okay to keep grandma and mom and dad buying stock while the market makers and rich investors cash out and jump ship.
TLDR; Shark Tank being interrupted by Cramer telling folks to bag hold harder is the canary in the MSM coal mine.
Persona opinion: this is likely tied to the GME and other stocks naked shorting and synthetic shares costing Hedge Funds BILLIONS so far. It looks like a major one got margin called yesterday.
Yes, Jim Cramer is a shill. Yes, Jim Cramer is usully wrong. But the rest of this post is BS.
Tha majority of stocks are in their own bear market right now. The only thing holding up the indexes are very large stocks (FAANG's) and energy and boring defensive stocks, like utilities.
This is because the big money managers are expecting a market selloff, and this is the only place they can put their big money to reduce their losses.
GME is a joke. It is down 80% from its high, and guess what ... it ain't coming back. The entire premise of the big squeeze was that naked short sellers where shorting more than 100% of the shares outstanding. Okay ... but have you seen the short interest lately? That entire naked short position, though illegal, was unwound and no longer exists. Short position is now only 13% of the float. So, the reason for the stock pumpers to push that stock is gone. Why would anyone buy it now? No reason.
DWAC is a stock that has ... ZERO REVENUE. Those stocks will get CRUSHED in a market selloff. It does not matter who is behind it. Maybe it will have success eventually, but until it earns its first dollar, it is no different than the Tulip Bulb Hysteria of the 1600's.
Yesterday was a major reversal, and at an important, key level. We SHOULD see some buying now in the market ... IF ... the market is going to hold up. But if we don't see buying today or very soon, and it continues lower, then the planned market meltdown has begun.
We are all getting some psychological relief of the Covid lies right now. Will that continue, or will they go for another tyrannical round? I don't know. But the wardrum beating for Russia and the market meltdown are two ways they can try to change the subject and get people off the Covid and election frauds.
These people need to HANG.
In the meantime, do not get caught up in hysteria. DWAC has no revenue. GME has no naked shorting (anymore). The market has no reason to go higher, unless it does. Time will tell on that, but today is a VERY bad start, considering how things went yesterday.
Jim Cramer is a doofus and part of the criminal conspiracy against the People. There was somone a few years ago who had a monkey, and he had the monkey "pick stocks" vs. Jim Cramer. The monkey did a better job than Cramer. That's all anyone needs to know about that conman.
^ Forgot when I wrote that: FOMC meeting is today and tomorrow. Announcement is tomorrow at 2:00 ET.
THAT is when the market will take off to the upside -- OR -- crash and burn. Today and tomorrow morning looks like chopping sideways until that announcement tomorrow.
How could you be so sure that there aren't any naked short positions on GME?
Most of their shorts are off the books. That's how they brought the price down while 100,000s of people bought up the stock and held. I don't think you can definitively say the shorts are covered. Likewise, I can't definitively say they aren't.
If they were shorting the hell out of it to bring the price down, they would just be digging their hole deeper. Combine that with the stubborn mentality of gamers and people on reddit, I would think that the apes would own the float and some.
I've made my bet and I'm sticking with it. Now, I will give you the fact that Wall St. seems to always find a way to screw over the little guy. Time will tell. I don't think you should be shilling the hell out of this thread, you've made your point, no need to make 20 comments trashing GME. It's a bad look on something you cannot be 100% on.
There WERE naked shorts. It was obvious because the reporting numbers showed more shorts than what was available in the float.
I think I even created a thread on this topic here on GAW back then, or maybe just comments in others' threads. But I do remember that time.
Today, it is 13.50%. So, they did NOT hide it before. Why would they now.
More importantly -- HOW would they hide it?
It's easy to say, "They just hide it." But that is NOT how it works.
Shorts don't daytrade. Not the big guys. They establish a position and hold on. The institutions that help naked shorts manipulate the books, but only to a certain point. They can't hide big short positions they way these bozos online are claiming.
And they DEFINITELY are not going to get the fund managers of XRT and IWM involved in their scheme.
Yes, Wall Street is manipulated like crazy, but there is ZERO chance that this story about the continued naked shorting that is somehow done in "secret" but some dude online "knows" they are doing it because ... well, he JUST KNOWS.
I did not realize so many people around here were still touting GME. So out of curiosity, I looked up the stats on the shorts and the financials on SEC.
GME is a VERY bad stock. I don't care if there are "hidden shorts" (which is nonsense). Even without that, the company is close to bankruptcy.
It is down 80% from the highs.
HELLO???
There was ONE person in this thread who actually responded to my points. EVERYONE ELSE is just acting like a shill.
Hey, do your thing. If you own GME and it goes up, good for you.
I don't see it.