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.
They weren't hiding it last year, when it showed 120%-130% of float was short.
Why "hide" it all of a sudden?
Well, FINALLY someone in this thread actually states which ETF's are supposedly being used to "secretly short."
So, now you are saying that the money management team for XRT, which is one of if not THE largest retail funds in the market, is involved in illegal trading just to help out a few hedge fund buddies. Look at their holdings:
https://finance.yahoo.com/quote/XRT/holdings?p=XRT
Top 10 stocks have around 1% of the fund's assets invested. GME is not one of them, so if they own GME at all, it is likely much less than 1% of assets.
IWM is the Russell 2000 index fund, which owns 2000 small cap stock (GME likely is one of them). But an index fund DOES NOT micromanage positions. They periodically buy/sell at the end of the month or quarter to reflect which stocks are still in the index, so their fund assets match the Russell 2000 index. You are saying that the management team of this fund, which has NO AUTHORITY to buy/sell outside of the specific parameters of matching the Russell 2000 index, is secretly shorting massive amounts of GME -- and putting the ENTIRE FUND AT RISK -- and putting themselves at risk of serious PRISON TIME if it goes wrong, just to help out some hedge fund buddies?
And BTW, those hedge fund buddies ... ALREADY COVERED THEIR SHORTS.
This is LOONEY TUNES you guys are buying into.
And do you know WHY they would do that? Because they USE FUTURES CONTRACTS to attempt to mirror the INDEX that they are REQUIRED to try and match. That is the WHOLE POINT of the existence of this fund: to match the S&P Retail Index.
In their own words ...
https://finance.yahoo.com/quote/XRT/profile?p=XRT
The IWM (Russell 2000 index mirror) is a fund that does the same thing.
There are NO futures contracts that specifically target GME. It would be WAY easier to just short the stock by "shorting against the box" where they both buy and sell at the same time, and then exit their long so they are net short.
The reason for the "run up EVERY 90 days" is FAR MORE LIKELY to be explained by market manipulation. Every 90 days, there is an earnings report. Stock manipulators (like the ones YOU are following) tout stocks around earnings time. The company itself might also manipulate in hopes of landing a big fish who will make an investment in a company that is on the brink of bankruptcy -- like GME did recently.
Now, THAT is the first interesting point I've seen made in this entire thread. However, MEME has ... ZERO ASSETS.
https://finance.yahoo.com/quote/MEME?p=MEME
Also, DWAC has ... ZERO REVENUE. It is a SPAC, which are almost all shell companies with nothing. Maybe Trump's support will change things, but so far ... ZERO REVENUES (not zero profits, but zero revenues -- my niece's lemonade stand had more in revenues than DWAC).
How do you arrive at that figure? They have $1.4 billion cash on the books, with no other significant assets (inventory would go for 10 cents on the dollar in a liquidation, and the rest is smoke and mirrors). But against that cash, they have $1.5 billion in current liabilities.
https://www.sec.gov/cgi-bin/viewer?action=view&cik=1326380&accession_number=0001326380-21-000129&xbrl_type=v#
The company doesn't have any REAL book value, if push came to shove and they had to declare bankruptcy. Which, it looks like will happen sometime this year at the current burn rate, unless they get another cash infusion.
Hey, props to you. At least YOU responded with actual substance, unlike anyone else in this thread.
I followed this story back when it was up over $400 per share, and it was interesting, but it looked like a hyped-up nonsense story to me then. Looks even worse now.
At least, I stepped aside from a roughly 90% loss (so far). Maybe that's why the shills here are so angry with me.
Those losses are hard to take. I've been there, done that, with other stocks.
That's why I see it much differently. And so far, I have been the one who was right. I just wish I would have shorted, too.
Good luck if you are long. At least YOU can make a case for your position, and I DO respect that.
I don't respect the braindead zombies around here, though, who evade honest questions. You are the rare exception to the rule around here, it seems.
Found out why he cares so much KEK
"Stepped aside" means I did NOT take a loss (because I never bought it) ...
... unlike YOU.
How much is your loss? There are only 2 possibilities:
(1) YOUR personal loss is MASSIVE, or
(2) YOU are just talking out your ass like you always do, and you never had the balls to buy the stock you think is so great in the first place.
Which is it, queball?
Stop it, you’re hurting my feelings
One thing I did not cover is that in the last GME conference call for earnings, GME talked about the number of shares that were DIRECT REGISTERED to their custodian. This is the first time a company did this since 2000 and only the second US company to EVER do this in history. Just a thought...
That said:
Because according to the media, the shorts all covered GME last year. That statement was repeated a lot last year, but that is not the case due to the swaps.
The report that the SEC made on GME stated that GME has not actually had a short squeeze and that retail FOMO-ing in to the stock lead to the run-up. Again, per the SEC report there has been no short squeeze yet.
Yes. But so does the SEC:
https://www.youtube.com/watch?v=JndCIMLV0oU
They have done this so much. Though GME is not in the highest percent of their earnings, that does not matter because they are allowed to create any amount of shares as needed. Watch the video and you will see why XRT, MEME, the Motley Fool ETF, and IWM (all containing GME) have very high short interest with XRT being a dirty slut.
MEME has assets.
Yahoo Finance has been ass since Apollo Global Management bought them. Apollo also happens to be a player in the GME saga too🤔
https://www.roundhillinvestments.com/etf/meme/
DWAC was their largest ownership in December, but now it is SoFi.
Finally, look at a chart of DWAC and look at when MEME was placed on the threshold list.
If revenue mattered to share price, then AMAZON would be at Zero for years prior to winning their contract with the Federal Government in 2014. Further, there is no reason that Tesla is worth more than Ford or Toyota who deliver way more cars
The SWAPS are not with the ETF. They are with the Short Hedge Funds and the Family Offices themselves versus Prime brokers. That is why Archegos failed and why Melvin and others are currently getting fucked:
https://archive.ph/ra2bN
That is why the short interest is low on GME. That and exercising DEEP OUT OF THE MONEY PUTS (yes, they have done this. Look up the Brazilian Puts fiasco on Bloomberg Terminals)
The run-up and crash correlates with Futures and Swaps rollover (T+2+35), not earnings though. GME earnings seem to happen 1 to 2 months post run-up.
As a matter of fact do this experiment: Go to tradingview.com
Open a daily chart of GME.
Add the indictor called Gherkinit Futures indicator.
Look at the indicator and compare it too each run-up of GME. There is a very clear and distinct pattern.
Want some more? Look at the stock BRN.AX on trading view as well. Notice how it almost mirrors GME movement for movement and look at where it is now.
So here's what you can do to get your money back (if you choose too): Buy the March or April GME 100 CALL. The 90 day run-up pattern starts this week.
If I am wrong, you loss $1300 bucks. If I am right, when it completes the pattern and head to $200, you can CASHLESS EXERCISE GME and get 100 shares for 13 bucks a share.
Disclosure: I not only own shares but I own a few of the 100 CALLs as well.
First of all, thank you for actually engaging in a real discussion. You are the ONLY one in this thread, it seems, who is capable of doing that. Props to you (although it shouldn't be that hard -- I guess everyone else here is just a lemming).
Anyway ...
I have not followed this story since early last year. All I can say is that this statement from a CEO smells like market manipulation to me. I have seen plenty of small companies in trouble doing all sorts of weird things that other companies never do. It does not necessarily mean anything other than manipulation.
I do remember Patrick Byrne talking about the naked short sellers pushing down Overstock.com. He was probably right, and the media attacked him. So, maybe there is something to it. But it is 50/50 at best, as to whether it means what the touts are claiming it does.
Right, because the financial media were conspiring with the hedge fund shorts, along with brokers like Robinhood, to provide cover for their hedge fund friends to get out of their shorts.
A short squeeze occurs when buyers buy up a stock so much that the short sellers have to also buy to avoid massive losses. There would be no need for that with GME, because the stock has been in a steady downfall most of the time, giving short sellers plenty of time to get out without a squeeze. That is likely what those moves up are about. But the overall direction has been down -- 80%+.
BTW, if hedge funds, mutual funds, and media are all in on the conspiracy, then what makes you think the SEC wouldn't be, too? What makes you think the SEC is telling the truth? Wasn't Rod Rosenstein's wife in charge of it recently?
Regarding XRT, here is the actual SEC report:
https://www.sec.gov/comments/s7-16-15/s71615-60.pdf
It is 40 pages, and I don't have time to read through it and figure out what they are talking about. I will say that XRT is a fund that mirrors the S&P Retail Index, and shorting a massive amount of GME stock would be a ridiculous thing to do for multiple reasons.
Is the SEC talking about the buying/selling of XRT shares itself, or claiming that XRT is secretly shorting stocks to boost their results? That wouldn't even make sense, since their mandate is to DUPLICATE (not outperform) the index.
The story being told by these stock touts doesn't make any sense, even if it could technically happen. Why would an index fund do secret trades to boost its returns or help out its buddies, when it is set up ONLY to mirror an index?
XRT and IWM are both index funds. The Motley Fool ... well I wouldn't put anything past them, other than they have built a huge company and would be very stupid of them to risk it via money laundering and market manipulation.
If you can point to something SPECIFIC in those 40 pages, I will have a look. But it sounds like some online touts are selling tulip bulbs. Even if these money managers wanted to do it, there is no mechanism for it to happen.
OK, I had to do some looking, but I finally found a source that says MEME has assets:
https://www.etf.com/MEME#fit
It owns GME, but only 4.15% of its fund is GME (long position, not short). It only has $1.7 million in assets, total. Do you realize how SMALL that is?
Average Joe in San Francisco has more equity in his house than that fund has in total assets.
This means its GME position is 4.15% of that, or about $70,000. So, they own around 700 shares of GME. Maybe those reported numbers are a bit old, so let's say around 1,000 shares, which would make sense.
Big whoop! That is NOTHING.
GME traded 3.56 million shares today. What does MEME's position prove? They don't even have the assets to short any significant amount of GME if they wanted to. And if they did, it would totally expose them as frauds. If they made a bunch of money, their fund would outperform what it is supposed to do, and if they lost, they would be headed to prison for lying and manipulating.
The whole thing makes no sense.
Amazon had plenty of REVENUE, as does Tesla. They didn't have PROFITS, but they had revenue.
DWAC has ZERO REVENUE. Like I said, sell one glass of lemonade at a lemonade stand, and an 8-year old child has more REVENUE than DWAC.
A lot of biotech companies are like that, too. I just saved my mother from investing in a biotech "cancer drug" company because I showed her it has NO REVENUES.
This is a BIG problem for DWAC. Maybe it will change, but investing in this NOW is stupidity.
OK, if that is true, then there is no need to involve ETF's at all. And the LAST ETF's they would want to involve would be index ones. Those guys have NO ability to maneuver the way you are claiming. They just cannot do it, even if they wanted to. And if they did, they would be found out IMMEDIATELY.
Regarding family offices, those are just investment advisors. They do NOT place trades. They go THROUGH prime brokers, just like the hedge funds do.
Hedge funds, family offices, and similar businesses MUST USE PRIME BROKERS to place their trades. While there are likely a lot of shady prime brokers, you should be asking yourself: FOR WHAT?
What advantage does the prime broker have?
Besides all that, SWAPS are not used like that. If someone wants to short stock, it is because they want to DRIVE DOWN the price. Therefore at some point, they MUST put those shares (long or short) into the MARKET. It would do them no good to have some sort of SWAP sitting in a drawer collecting dust. That is just nonsense.
If you are talking manipulation at a massive level, I will tell you a MUCH easier way of doing it.
Have the Federal Reserve create money, and run the trades through FOREIGN brokers. That's what the perps did on 9/11. Because the trades were foreign (German, to be specific), the "investigators" claimed they couldn't find out anything.
Anyway ...
Thanks for actually responding to my comments. You are the ONLY one here who did so.
I think the touts in GME are pulling a con game on you guys.
(1) Look at the GME financials. They are burning up cash at a rate that will put them into bankruptcy within the year. Maybe someone will bail them out. Someone already did (maybe a short seller). But the BUSINESS itself is LOSING money. If that does not change, look out below -- unless a big fish steps in (again).
(2) The manipulation through ETF's is NOT going to happen the way the touts are claiming. INDEX funds are NOT going to be playing that game, just to save a few hedge funds (who, by the way, were RIGHT about the financial prospects of the company).
(3) Family offices do NOT place trades directly with the exchanges. There MUST be a broker that does that, and prime brokers are used for the big guys (small family offices might just use a regular retail broker).
Finally, look at the chart:
https://www.barchart.com/stocks/quotes/GME/interactive-chart
It might not be obvious to you, but it is obvious to me that GME is a pump and dump, and nothing more. The company has been losing revenue, and is now losing money.
The shorts were right.
But if you are long, good luck.
P.S. Now that the stock market is closed, I can say that it did EXACTLY what I said it would do earlier in this thread -- chop sideways today and into tomorrow. After the Federal Reserve announcement at 2:00 ET, look out! We could have a wild ride for a few days as the market figures out what to do next.
Then listen to the video I sent you while doing something else. The video goes over what XRT is doing.
But that is what they are doing: The fund contains GME. They are allowed to rebalance and can create shares as needed as long as they satisfy the creation in T+2+35 days time. If they do not do that, that is called an FTD (Failure to Deliver).
https://www.investopedia.com/terms/f/failuretodeliver.asp
Yes. It is in the report. I am mostly surprised that the SEC knows about it, and has done nothing yet.
More on FTDs for GME and XRT:
XRT https://archive.ph/GYBi3
XRT https://archive.ph/vcA64
GME https://archive.ph/8HfJN
GME and XRT https://archive.ph/TiJyi
MEME and TMFC are brand new funds created to allow more shorting of shares via the ETF creation feature.
Why create them?
Because of the massive number of share direct registered.
If your shares are direct registered, they cannot be shorted.
And with the amount of FTDs on GME and XRT, they needed more share creation opportunities because shares are being DRS'd at a crazy rate.
GME CEO's announcing that was also a shot across the bow for the Short Funds out there: Once the float is locked up enough, then this will end up exactly like the Porsche VW short squeeze. But unlike that squeeze, there is no single party the government can go to get the shares back like the German government did with Porsche.
So why has GME dropped a lot since then?
It is easier to manipulate stock when there is not that many shares/volume in the stock.
What took millions of shares bought or sold in the March 2021 to June 2021 time frame now only takes thousands because again millions of shares are DRS'd.
...Archegos did not bet short on GME by buying shares, they bet short on GME via the swaps. The swaps were with Prime Brokers with Credit Suisse helping facilitate them and then Credit Suisse eating the bag:
https://archive.ph/c0CDn
Further the swaps are very important for this GME tale. So important that the CTFC made it so they cannot be revealed until 2023
https://archive.ph/WUVdk
Did you do what I requested and look at GME at TradingView using the indicator?
Here ya go: https://www.tradingview.com/x/3cpg01xE/
90 day cycle for all to bear
Also every. Single. Short. Squeeze does a major dip before the rip as companies move to lower the price as much as they can so they can hurry to buy it back before they get completed fucked. Look at the chart of VW, or BRN.AX, or IRNT.
Yes. One firm Tyrannosaurus WRECKED Credit Suisse.
1 firm.
Imagine all the other ones as the bill comes due.
Think about when CITADEL blows up.
Instead of going point by point with you, if you want to actually see what is going on and why this is the trade of a lifetime, here is a link for you of a shit load of Due Diligences on GME:
https://fliphtml5.com/bookcase/kosyg
You can look at it, or not. Your choice.
He'll ignore and say we're bag holders, watch.
OK.
I had a chance to look over the SEC paper. I got about halfway through and skimmed the rest. I did not watch the video.
I also did a little review of some things on Reddit for GME.
Let's see if I have this correct:
Is that the theory?
Let's look at MEME. It holds $1.7 million in assets. 4% of that is GME. If a fund were to short 10% of MEME (a ridiculously large amount, and very unlikely though not impossible), that would mean they would be short $170,000 of the fund. 96% of it is not GME, so they would buy up those stocks, leaving a "net short GME" of $8,500.
That would be a monumental waste of capital.
Let's look at XRT. It has around 8 million shares ("officially"). Short 10% of that (again, a really bad idea if it could even be done -- and not reporting it would also be considered a criminal act if more than 5%), then that would be somewhere around $70,000,000 short (valuation of underlying assets). Since GME is less than 1%, they would have to buy $63,000,000 and be "net short GME" of $7,000,000.
IMPORTANT POINT: This assumes that NAV and AUM are equal. They are NOT equal. In fact, this is one of the red flags the SEC paper points out -- NAV and AUM for an ETF (ETP) can be way off from each other, which leaves investors at much greater risk than they think. This also makes it very difficult (maybe impossible) to get this hedge exactly right. Something to consider.
IMPORTANT POINT #2: Even $7,000,000 is peanuts for GME shorts. These guys supposedly have A LOT of money tied up in their GME positions. GME traded $350,000,000 worth of shares yesterday alone. Even if there are 10 times the phantom shares of XRT out there, it would not make any sense to go through XRT just to short GME which could be done directly in the market. Much more efficient use of capital.
Also, excessive shares of XRT could easily be explained by large investors hedging, or even wanting to push down the market. Maybe the Federal Reserve or similar criminals are manipulating to push the market around.
Why is it GME shorts, and what evidence is there that they are shorting XRT and then buying up everything that is not GME?
Have you thought about this? If they are buying up everything other than GME, then they should be pushing those stocks higher -- either with actual shares or phantom shares. Are those stocks going UP? Hell no. The overall XRT portfolio is going DOWN, with the market. So, what evidence is there that theses excess XRT shares for due to GME shorts? It could have nothing (or very little) to do with them.
It sure seems like a convoluted theory to explain why GME is not going up like it "should" according to some people.
But ... WHY "should" GME go up? Look at the BUSINESS that the stock represents.
LOSING MONEY. BURN RATE that will eat up capital within 1 year, if not saved by a big investor like was done before.
And why would anyone want to save it? I suppose if they have $10 billion short in the stock, it might be worth it to give them $1 billion to try and save it. But that would mean they are short 100 million shares at the current prices. Maybe this idea made some sort of sense (in an evil way) a year ago, but not so much today.
The economy is in a shambles, no matter what the numbers say. Gamers are not going to suddenly have a bunch of money to go out and get games from GME. Their brick-and-mortar concept will have to go bye bye because they cannot sustain the expense. That will put them fully online, which gives them no competitive advantage. It then becomes a commodity like every other website.
I just do not see how this company pulls out of its nose dive, regardless of any short seller manipulation.
But the SEC paper was an interesting read. I already knew most of it, but it was good to be reminded of these red flags, generally, and I did not know how bad XRT was.
So, I appreciate the info. I will not be playing GME on the long or short side because I don't see a good reason to.
But if you are in, good luck to you.
Again, I appreciate that YOU (alone in this thread) had responses for me and a good discussion. For a group of people who think they are "awake," it is not good to see that most of them cannot defend their ideas on much of anything. You can, even if I might not agree completely, and I respect that.
Best of luck.
Maybe because you are condescending in all your posts and insult people because they are invested in GME. I'm surprised this guy is willing to engage with you. He's a better man than I to spend that amount of time explaining things to you.
If you think I am being condescending, it is because YOU have no ability to actually discuss the substance of topics. I find that disgusting. Especially on a forum like the GAW.
Besides that, you admitted in a previous thread that you LIKE to troll and cause people problems online.
Only a psychopathic personality would actually LIKE doing that.
Therefore, although I am willing to have debates with other people in this thread, I don't particularly like YOU.