Hungary Bill (Forum Supporter) said:ShawnG said:Well, BB came down to $20 so I'm back in. See if it goes up again.
In at $15.25.
I had a couple hundred left over from my "Dogs of Dow" account dividends that weren't reinvested. Why not join in the fun for once?
Sure, why not, right? 7 @ 14.83.
In reply to Hungary Bill (Forum Supporter) :
That was $20 Canadian.
More fun than a casino.
Found on Reddit. Anyone that knows this stuff know if this sounds correct?
When do we sell? A quick guide for GME Army. (SECRET TO DIAMOND HAND )
Too much disinformation about when to sell. I'm tired of seeing people paper handing GME when it drops by 20%, or saying to sell Friday (BTW DO NOT berkeleyING SELL FRIDAY OR I WILL COME OVER THERE AND DO STUFF TO YOU!) so here is the DEFINITIVE guide on how to play the ending.
First, we need to understand what is "Days to Cover" or "Short Ratio" .
Official definition:
• Days to cover, also called short ratio, measures the expected number of days to close out a company's issued shares that have been shorted. • Days to cover is calculated by taking the number of currently shorted shares and dividing that amount by the average daily trading volume for the company in question. • A high 'days to cover' ratio can often signal a potential short squeeze.
Dumbed down version:
• imagine you're Melvin Capital and you have 1 million sticks up your butt. How long will it take to get all those sticks out of your butt? If the volume of stick removing is 1 per day, then it'll take 1 million days to remove 1 million sticks up your butt. If it's 50,000 sticks a day, then it's 20 days. • Same thing with covering short positions. How long will it take Melvin Capital and other shorters to cover their short positions? You take alllll the shorted shares, divided by the average volume of share movement per day, and you get something called "Days to Cover"
Now you know what day's to cover means, you can check many websites to see what is the days to cover for GME.
So you can see, even if Melvin Capital wants to cover their shorts, it's gonna take them DAYS, and right now it's gonna take them an entire trading week to cover their position.
So what does that mean for us?
Well, we're just waiting for the day when Melvin Capital starts covering their position. When is that day? VERY berkeleyING SOON. They're are bleeding out of their ass with the insane interest rate they're paying for their position, and a lot of puts are expiring on Friday, plus a lot of ITM (in the money) calls expire Friday and can be exercised to get shares.
Friday might be the day where Melvin Capital have no choice BUT to start covering.
Now, IF this happens, then it's not gonna take Melvin Capital 1 hour to cover all their shorts, but DAYS. Meaning if Melvin capital starts covering FRIDAY, it will take them at LEAST 3 DAYS to fully cover, which means ALL of next week, the price will keep increasing and increasing! So realistically I'd say Tues or Wed next week might be peak sell time, IF the covering starts Friday. No need to panic sell. No need to worry about a top that lasts for minutes. It will LAST FOR DAYS!!!!!
This is going to be a popular game for a while: choose a stock, buy it cheap and then see if you can work the masses into a buying frenzy - make em believe that they're "doing this for the children" or "sticking it to the man". Either of those usually works. Cash out before the crash, and find another stock, ah, cause. You are not hurting anyone and not forcing anyone, and besides it won't even cost them anything cause they're all doing it with the stimulus money they got from the government. So, it's free for everybody but the tax payers.
In reply to californiamilleghia :
You already monetize that ability via streaming on twitch.
In reply to undefined:
I'm not sure when they're planning on getting out of GME, I ducked out at 368 after getting in at 71.26.
I do know that when they get out it will come out on the discord server and not reddit first. Too many eyes can see the announcement on Reddit in real time versus the discord server, I would not plan to ride it out till the last possible moment unless you're on discord or you're doing it solely to sink the hedge funds and do not have an interest in actually being profitable yourself.
EarlSpot said:This is going to be a popular game for a while: choose a stock, buy it cheap and then see if you can work the masses into a buying frenzy - make em believe that they're "doing this for the children" or "sticking it to the man". Either of those usually works. Cash out before the crash, and find another stock, ah, cause. You are not hurting anyone and not forcing anyone, and besides it won't even cost them anything cause they're all doing it with the stimulus money they got from the government. So, it's free for everybody but the tax payers.
Ah, so people only started gambling this year because the government gave back a paltry amount of our money instead of holding it until April?
You're right, there's no way I could have covered a few hundred dollars without the stimulus.
Assuming that you're not a new account just a troll, take a look at the last time this (shorted well over 100%) happened with VW, called "the infinity squeeze."
The big difference this time was that anyone with a few hundred can sit at the big kids table instead of other investment firm.
I am irritated because the narrative I have heard, which I cannot find unbiased information to prove, is that RobinHood stopped accepting trades on those stocks because Citadel stopped taking their orders. Simultaneously, Citadel added a short position such that when trading resumed normally, they would benefit from the drop. It's literally rigging the game in a very blatant way.
Can anyone confirm?
EarlSpot said:This is going to be a popular game for a while: choose a stock, buy it cheap and then see if you can work the masses into a buying frenzy - make em believe that they're "doing this for the children" or "sticking it to the man". Either of those usually works. Cash out before the crash, ...
Do it. ...or just watch CNBC.
We should all buy a bunch of penny stonks - say ERBB because i have 10,500 shares already - and talk it up here and put it everywhere with hashtags and watch ourselves become millionaires in a few weeks
NickD said:Can you imagine being the poor guy that has to write this chapter in a history book 10 years down the road? How do you not come off as a complete crazy person? "In the beginning of 2021, a hedgefund insulted an ailing company and drew the ire of a internet community, who then proceeded to wring the hedgefund's necks until they squealed."
Can you imagine the poor guys who have to write the history books on 2020/2021 so far?
Patrick (Forum Supporter) said:We should all buy a bunch of penny stonks - say ERBB because i have 10,500 shares already - and talk it up here and put it everywhere with hashtags and watch ourselves become millionaires in a few weeks
If you spend a cool million+ on stocks and a coupla hundred thousand on marketing, you've just described a fund/market maker...
captdownshift (Forum Supporter) said:In reply to undefined:
I'm not sure when they're planning on getting out of GME, I ducked out at 368 after getting in at 71.26.
So, this is VW when it became the highest stock in the world, gamestop is following the same pattern and we are in that dip before the climb
People are using various mechanisms to see how much demand is on the stock and which shorts have been closed. The below link is one of the more popular
http://isthesqueezesquoze.com/
So whose their next target? I've only got $100 or so i can spare but I want to get in early
In reply to RevRico :
BB is down to $18 cad right now.
Yeah, NOK, BB, and AMC are all secondary targets, and they'd be where I would look if you want to gamble - in that order, because they're IMHO much safer bets. Nokia is still HUGE and actually has value to them, BB the same but less safe. AMC is riskier, basically ask yourself if you think that movie theaters will be around in 10 years.
EDIT: On AMC and the "ask yourself" question - think outside the box. They may not, probably will not look the same, but will they innovate and become something different that is a money maker?
I don't think I have much to contribute to anything of substance, but I'm enjoying the discussion going on here.
Who knows, I may even gamble a few bucks on one of these 
Today's trading volume vs the average volume for GME is down almost 98%
Coupled with the drop in price, as well as the fact that shorts have not been sold, this suggests that the large investors are trading back and forth in an effort to confuse the pricing algorithms into thinking that the demand is not high and dropping the price.
Nothing has changed in the potential worth, investors are just trying to chip away at those without the resolve to hold and make them bleed
Robbie (Forum Supporter) said:Robbie (Forum Supporter) said:What if the redditors are really just people running competitive hedge funds?
I'm going to bring this up again. Before we assume any of this is a win for the 'little man', let's really be sure who is actually running the show. Reddit gives a lot of annonimity if im not mistaken.
Agreed. On reddit nobody knows your a dog. Or a Russian. Or a hedgefund. The david and goliath, stick it to the man/hedgefund, revenge for '08 narrative just looks like marketing. Somebody is gonna get rich on this when the stampede starts, but it's not the masses. The prisoner dilemma is real and it's the unsophisticated investors who will be left holding the bag.
It's not clear to me how much this is actually hurting hedge funds. One fund needed a 2B bailout from it's parent company but this is basically chump change. The top 20 funds have around 750B assets under management-this doesn't include investment banks and other wall street entities.
4-5 business days to move money from my credit union to robinhood, Damn, guess I'm not playing unless I sell that single share of zinga I have that's tripled in value since 2018
As of 5 minutes ago, Nokia under $5, blackberry at $17.
ShawnG said:In reply to RevRico :
BB is down to $18 cad right now.
Yeah, but the reason I chose BB instead of AMC theatres or Gamestop, is even if we miss gains from the rally, there's still the partnership with Amazon that was just announced to help with the autonomous vehicle sensor whatever stuff, so there's still a good chance it'll be profitable in the longer run.
Bloody hell, they did it. The stock closed at $328.46, up $134.86 (69.66%) on the day.
In reply to Hungary Bill (Forum Supporter) :
Exactly, it's not going to hurt you to hold it.
93EXCivic said:NickD said:Can you imagine being the poor guy that has to write this chapter in a history book 10 years down the road? How do you not come off as a complete crazy person? "In the beginning of 2021, a hedgefund insulted an ailing company and drew the ire of a internet community, who then proceeded to wring the hedgefund's necks until they squealed."
Can you imagine the poor guys who have to write the history books on 2020/2021 so far?
CrustyRedXpress (Forum Supporter) said:Robbie (Forum Supporter) said:Robbie (Forum Supporter) said:What if the redditors are really just people running competitive hedge funds?
I'm going to bring this up again. Before we assume any of this is a win for the 'little man', let's really be sure who is actually running the show. Reddit gives a lot of annonimity if im not mistaken.
Agreed. On reddit nobody knows your a dog. Or a Russian. Or a hedgefund. The david and goliath, stick it to the man/hedgefund, revenge for '08 narrative just looks like marketing. Somebody is gonna get rich on this when the stampede starts, but it's not the masses. The prisoner dilemma is real and it's the unsophisticated investors who will be left holding the bag.
It's not clear to me how much this is actually hurting hedge funds. One fund needed a 2B bailout from it's parent company but this is basically chump change. The top 20 funds have around 750B assets under management-this doesn't include investment banks and other wall street entities.
Does it matter?
What's good for the retail investor like you or I is going to be good for the hedge funds that aren't selling shorts. Half of Gamestop stock (roughly) is owned by trillion-dollar worth investment firms for retirements. They're gunning for it to reach as high as it can go as well before they sale, and the squeeze hasn't happened yet so they're holding just like everyone else.
One hedge fund was put into bankruptcy by this a while back. Quite a few others have been hurt badly, some badly enough to announce that they are changing the way they invest.
As for the hedge funds holding GME like the rest of us, we'll get them in time.
You'll need to log in to post.
