Look, it’s obviously your money and you can do what you want. But you should keep a couple things in mind. First, by day trading, you’re potentially elongating the fuse for the rockets take off. Second, what happens if moass takes off when you just sold 10 for $50 and it jumps to $500? Will you buy it back for 5k? Or wait for it to drop? What if it never does? Are you ok watching the rocket take off without you? Don’t sell 500 million in Bitcoin for a couple pizzas. (True story)
You can get your stocks DRS’d through E-Trade, it’ll just require you having an annoying conversation with their customer service rep… But for buying more GME in the future, best to buy your shares directly from GameStop through ComputerShare
I was assuming that the seller in this case did not put in an AON order. If he did there might be a problem matching orders for the sale. If the buyer in this case had an AON order for 100 shares the sellers 10 (if best price) would have been picked up along with 90 others at best price.
My first guess is they don't have your shares. Your shares were shorted and in order for you to sell they would have to buy at a higher price than they wanted to buy at.
I am sure not just you but hundreds if not thousands of others.
It does look like the price is moving back up again.
From what I have heard from people in the business. If they have shares on hand and they can make money lending those shares they will lend those shares.
These brokers make no money on the trades. They make their money using your shares. That's why there are so many brokers offering free trades.
Bottom line, it there is something that would block their ability to make money from your shares they would not offer it to you in the first place.
An example in your case would be they would not allow you to put a sell order a certain % above current price. That would block you from doing what you did.
The fact that they allow you to put that order in tells me it means nothing to them.
Paper handed *****
This is not the way.
Look, it’s obviously your money and you can do what you want. But you should keep a couple things in mind. First, by day trading, you’re potentially elongating the fuse for the rockets take off. Second, what happens if moass takes off when you just sold 10 for $50 and it jumps to $500? Will you buy it back for 5k? Or wait for it to drop? What if it never does? Are you ok watching the rocket take off without you? Don’t sell 500 million in Bitcoin for a couple pizzas. (True story)
Heresy !!
Hey, just kidding. Its never wrong to sell your shares when you need to ( as long as you are not selling them short that is!)
Don’t trust E-Trade with your stocks. Get them DRS’d over to ComputerShare
Do I go through E Trade to do that or through ComputerShare?
You can get your stocks DRS’d through E-Trade, it’ll just require you having an annoying conversation with their customer service rep… But for buying more GME in the future, best to buy your shares directly from GameStop through ComputerShare
Thanks!
Weak!
Maybe all of the bids were "all-or-none" greater than your 10 shares.
If they are buying 100 share blocks it might skip right over you.
No, the orders don't skip. If you offer to sell at a lower price then the next seller your shares will sell first
AON order
https://www.investopedia.com/terms/a/aon.asp
I was assuming that the seller in this case did not put in an AON order. If he did there might be a problem matching orders for the sale. If the buyer in this case had an AON order for 100 shares the sellers 10 (if best price) would have been picked up along with 90 others at best price.
That would be a series of partial fills --- it wouldn't go through.
I've seen this done to "paint" the ticker tape.
You put in a bid and someone buys below you. It goes back up --- you get nothing.
BlackRock was trying to halt trading earlier, so I guess these companies blow where the overlord wind tells them.
https://greatawakening.win/p/15JAOLQtr1/blackrock-is-shitting-themselves/c/
RH said other platforms had halted trading of GME.
Which are you using, market or limit orders
You need to call E-trade.
My first guess is they don't have your shares. Your shares were shorted and in order for you to sell they would have to buy at a higher price than they wanted to buy at. I am sure not just you but hundreds if not thousands of others.
It does look like the price is moving back up again.
From what I have heard from people in the business. If they have shares on hand and they can make money lending those shares they will lend those shares.
These brokers make no money on the trades. They make their money using your shares. That's why there are so many brokers offering free trades.
Bottom line, it there is something that would block their ability to make money from your shares they would not offer it to you in the first place.
An example in your case would be they would not allow you to put a sell order a certain % above current price. That would block you from doing what you did. The fact that they allow you to put that order in tells me it means nothing to them.
I DRS a week after the split,it took 5 business days,at e-trade.
I just called and asked for a representative. Took 5 minutes tops,no fees. That's the 3rd time I did it,with no problems.
They can do whatever they want with your iou shares. Your sell order doesn't stop anything.
In early days that theory was floating around, but has since been proven false.
Setting that sell order is just unnecessary risk. Imagine if your shares got automatically sold for $420