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Reddit r/WSB bankrupts Hedge Fund using Robinhood

Matt Sun

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That's why they're buying physical silver to give Citadel another blow. If all the physical silver is unavailable what exactly are you trading with "paper silver contracts." They want to expose that.
I will put the silver coins i just bought on a home-made rocket and send them literally to the moon...

Seriously.I think it's important to have the precious metal experience. The silver ounce price today is like 27$. Yet in amazon the less expensive 1 oz coin is 49$. And in the Amazon equivalent of my country Argentina the same coin is 95$ . This spread sounds like an oportunity and as it really holds its value. Kind of useful thing when your business runs on the good old strong , never devaluating argentinian peso...
 
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Ocean Man

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This is a truly captivating thread, for real, I cant wait for the movie. Hasn't been anything good come out in ages hehe.
Will watch at AMC!
 

BizyDad

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Wait, it's BioWar now? I can't believe I had to hear this from the MSM and not my FastlaneFam.

 

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Personally, I'm still undecided on my move with respect to this and watching things unfold.
It's already too late.
The stock market is like anything else: If everyone is doing something, you should probably not be doing it.
@MJ DeMarco said something like that in his books. If everyone is buying, you should be selling, etc etc.
In this case, with the GME stock, it's too late to get on board and see massive positive returns. Buying in at this point is buying in to lose, especially when the hedge fund guys call their regulator friends.
 
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ItsAJackal

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Wait, it's BioWar now? I can't believe I had to hear this from the MSM and not my FastlaneFam.


I've been reading a lot about all of this lately because I find it fascinating. Most of the people on that subreddit have determined that news outlets are falsely reporting that "Reddit is now looking at _____" to try and scare people into selling GME. Most of the posts on that sub claiming that they are now targeting silver and/or other stocks are all bots or random accounts that haven't been active in 3-4 years but now are posting a ton about silver.

They have pretty much identified that the funds are doing everything they can to either cause panic selling or try and boost other areas so they can help cover their losses (e.g. silver). The sub also saw that the big dip last week (stock lost around $200) was due to the fact that while the stocks were frozen publicly (no retail investor could purchase) there was still buying and selling going on between the funds themselves, which in turn was artificially lowering the price. That was the same time that all outlets were reporting that the funds had "closed all their shorts" and again, were trying to initiate panic selling.

If you want to lose an hour down a rabbit hole, I'd suggest going to that subreddit and sorting by "top" over the past 1-2 days. The amount of research they have done to call out these funds is incredible.

Mark Cuban is actually doing an AMA on the sub right now as we speak (9:30 EST)
 

LightningHelix

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It's already too late.
The stock market is like anything else: If everyone is doing something, you should probably not be doing it.
@MJ DeMarco said something like that in his books. If everyone is buying, you should be selling, etc etc.
In this case, with the GME stock, it's too late to get on board and see massive positive returns. Buying in at this point is buying in to lose, especially when the hedge fund guys call their regulator friends.
9 times out of 10 this is great advice, i just like to look a bit into the nuances of the situation. It looks like a situation that I'd have to buy the dip and assume other redditors will too, and then sell shortly after, making maybe a quick buck with not great gains and lots of potential that we haven't even seen the bottom yet. That dosen't really help their cause either, I'd just be out for myself and a greedy quick buck with the potenital to get slaughtered. Take this as a sign if anything, Mark Cuban supports WSB's movement but he openly says he dosen't own any GME stock.

It's all well and good to send a message, but doing what's best for you at the end of the day is more important and I prefer to send a message that doesn't also follow with me lighting my money on fire.
 
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LightningHelix

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I've been reading a lot about all of this lately because I find it fascinating. Most of the people on that subreddit have determined that news outlets are falsely reporting that "Reddit is now looking at _____" to try and scare people into selling GME. Most of the posts on that sub claiming that they are now targeting silver and/or other stocks are all bots or random accounts that haven't been active in 3-4 years but now are posting a ton about silver.

They have pretty much identified that the funds are doing everything they can to either cause panic selling or try and boost other areas so they can help cover their losses (e.g. silver). The sub also saw that the big dip last week (stock lost around $200) was due to the fact that while the stocks were frozen publicly (no retail investor could purchase) there was still buying and selling going on between the funds themselves, which in turn was artificially lowering the price. That was the same time that all outlets were reporting that the funds had "closed all their shorts" and again, were trying to initiate panic selling.

If you want to lose an hour down a rabbit hole, I'd suggest going to that subreddit and sorting by "top" over the past 1-2 days. The amount of research they have done to call out these funds is incredible.

Mark Cuban is actually doing an AMA on the sub right now as we speak (9:30 EST)

I do think that alot of WSB know what they are doing, but its mostly guys who have been there long before the GME craze. Now everyone and their grandma wants a piece of the action, that subreddit grew from less than a million subs to more than 8 million in the span of a week. The sub has been diluted with a bunch clueless newbies asking advice and spamming diamond hands and rocket ships, while adding nothing of value. I know its reddit, so some degree of this is expected, but I'm sure the average IQ of the sub dropped about 25 points.

Mark Cuban supports them and does an AMA, but he has no stock in GME, Idk that should tell you something. I'm sure he likes the idea, but not enough to risk any of his own money.
 
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theag

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Seems like people are starting to lose money.

View: https://twitter.com/stoolpresidente/status/1356618475234557956?s=20


This guy bought $1M worth of GME yesterday at 260 and lost around half of it in 24 hours, with it currently trading at 130:

https://www.reddit.com/r/wallstreetbets/comments/la6w8q View: https://www.reddit.com/r/wallstreetbets/comments/la6w8q/just_bought_1mm_worth_of_gme_my_profits_from/

Can't wait to see this whole F*cking house of cards crash and burn. And I don't mean just the meme stocks.
 
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lludwig

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Kak

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Dave Portnoy. Lol. The self proclaimed “new Warren Buffett.”

These kids are taking investment advice from a guy that owned a million dollar position in a failing company.

958CF832-F664-4FAC-AA2B-A1831095DE83.jpeg
 
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MJ DeMarco

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Anyone want to talk about GameStop's business model, its financial numbers, its prospects for growth and massive profits? You know, the real reasons why a company is investment worthy?

I guess not.

LOL.
 

Kak

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I don't get the fascination with Dave. He's the modern-day Jim Cramer, except has no f**king idea of what he's doing.

Even that might be giving him too much credit.
 

PapaGang

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And yet, as every major financial news source is proclaiming that silver is the new GME and that r/WSB is buying it en masse, 8 of the 10 first posts on the sub are all about how you should NOT buy silver. In fact, they know that the biggest holder of silver contracts is Citadel, the very company they are "fighting".
You don't need a ferret's nose to smell the fishy business going on here.
I am not holding any precious metals.
"You can fondle the cube, but it doesn't respond."
-see attachment


With that said, there is a place for it in a diversified portfolio, which is exactly what Kak is doing. He's had an old, long position, which is the correct play.
 
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biophase

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I don't get the fascination with Dave. He's the modern-day Jim Cramer, except has no f**king idea of what he's doing.
I don't think Jim Cramer has any idea on what's he's doing either. Have you ever seen the websites that track his advice?
 

PapaGang

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Anyone want to talk about GameStop's business model, its financial numbers, its prospects for growth and massive profits? You know, the real reasons why a company is investment worthy?

I guess not.

LOL.
Wha?
Man, we're way past that. GME is another Bitcoin.
It's, like, a store of value, dude.
 

James Fake

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I’ll go. I bought $15k worth of GME at $80 when it was bloody, and I sold at near double that. I still have a ton at $30. I also have a crap load of SPY Calls I bought Friday near close as everybody was calling for market crash and ignoring all fundamentals as their emotions took over in wanting to see WSB fail. Driving atm, but here’s quick screenshots, but pretty much all backed up from all my posts in here anyways.

I’m also eye’ing a rebuy for GME back in around close if the action is right. Btw; not a big gap trader but there’s a 25% gap down, seeing as how its extremely large inside of suspect price action pre and post market open; I’m pretty sure we retest $200 sooner than later.

Eerily follows VW price action and volume action; so there may be quite a surprise within the next 4-5 days.

Just remember; I show up on red days just as much as I show up on green. When the one sided “experts” show up, you do the opposite. See you Feb 8th’ish.. then again on Feb 12th’ish for a diff type of grand finale.
 
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PapaGang

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Wait, it's BioWar now? I can't believe I had to hear this from the MSM and not my FastlaneFam.

The forum is busy creating value.
 

LightningHelix

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Anyone want to talk about GameStop's business model, its financial numbers, its prospects for growth and massive profits? You know, the real reasons why a company is investment worthy?

I guess not.

LOL.
To be fair, six months ago some people on WSB were speculating that Gamestop was undervalued because of a bunch of upcoming changes to the company in its management and business model, plus short term gains on selling upcoming consoles and several other reasons. That's when people started catching on too additional things like the short stock at 140%. Unfortunetly this fact alone caused it to spread like wildfire and make GME way overvalued.

One of the core WSB members named RoaringKitty has a Youtube channel actually, maybe someone will find it informative:
View: https://www.youtube.com/watch?v=GZTr1-Gp74U&t=650s
 
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theag

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I’ll go. I bought $15k worth of GME at $80 when it was bloody, and I sold at near double that. I still have a ton at $30. I also have a crap load of SPY Calls I bought Friday near close as everybody was calling for market crash and ignoring all fundamentals as their emotions took over in wanting to see WSB fail. Driving atm, but here’s quick screenshots, but pretty much all backed up from all my posts in here anyways.

I’m also eye’ing a rebuy for GME back in around close if the action is right. Btw; not a big gap trader but there’s a 25% gap down, seeing as how its extremely large inside of suspect price action pre and post market open; I’m pretty sure we retest $200 sooner than later.

Eerily follows VW price action and volume action; so there may be quite a surprise within the next 4-5 days.

Just remember; I show up on red days just as much as I show up on green. When the one sided “experts” show up, you do the opposite. See you Feb 8th’ish.. then again on Feb 12th’ish for a diff type of grand finale.

Should've sold everything at $468 :p. Now that would have been sth to brag about.
 
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Kak

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Wha?
Man, we're way past that. GME is another Bitcoin.
It's, like, a store of value, dude.
The “dude” makes it authentic. :rofl:
 

lludwig

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I don't think Jim Cramer has any idea on what's he's doing either. Have you ever seen the websites that track his advice?
True. But he at least sounds intelligent. Would I follow his advice? Hell no!

This reminds me of the 2007 article in Barron's which did research if you were to do the exact opposite of what he recommended.


Our analysis of Cramer's picks over the past two years, from YourMoneyWatch.com, showed that, on average, the stocks jumped 2% the day after he mentioned them. From there, they usually moved sideways or down for the following 30 trading days (see chart). This offered an opportunity to make money -- 5% to 30% a year -- by selling Cramer's selections short.
 
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Brian Fleig

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I meant traditional day traders before Robinhood. That's why Robinhood might get shut down because they made it easy to day trade.
Wrong again and the wsb kiddies are not day trading. I am not defending RH, I despise it but they are following the law in terms of day trading although none of this is about day trading.
 

James Fake

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I do think that alot of WSB know what they are doing, but its mostly guys who have been there long before the GME craze. Now everyone and their grandma wants a piece of the action, that subreddit grew from less than a million subs to more than 8 million in the span of a week. The sub has been diluted with a bunch clueless newbies asking advice and spamming diamond hands and rocket ships, while adding nothing of value. I know its reddit, so some degree of this is expected, but I'm sure the average IQ of the sub dropped about 25 points.

Mark Cuban supports them and does an AMA, but he has no stock in GME, Idk that should tell you something. I'm sure he likes the idea, but not enough to risk any of his own money.

This is spot on.

I think the focus of 99% of the outside is looking at WSB as a “for or against” and focused purely on GME and AMC performance.

But the good WSB traders are not focused on that much. We’re already ahead..

For instance, most with early GME entries have made more than enough. I hold some at $30 but I honestly don’t care about it, I’ll hold it to do my part and could careless if it goes to zero.

We’re already grouped up making entry (or waiting entry to open up) on the upcoming breakout companies, easy 10 baggers for both mid and long term.

Its not much different than the make up of any other trading communities imo. Just WSB’s style makes some people (inside and out) really emotional.
 
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csalvato

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Brian Fleig

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No, it's right.

It's illegal for a brokerage to allow you to day trade with less than $25,000 (including Robinhood)


Where @kelvinfernandezm was wrong was that it's a requirement to do any trading...which it's not.
No it's not right. I can daytrade all day every day with a cash account. I can day trade 3 times in a 5 day period with a margin account AND I can have as many margin accounts as I am able to fund.
 

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