GME

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dualstow
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Re: GME

Post by dualstow » Fri Jan 29, 2021 1:34 pm

CT-Scott wrote:
Fri Jan 29, 2021 1:10 pm
dualstow wrote:
Fri Jan 29, 2021 12:53 pm
I think it's interesting that Gill had no desire to "stick it to the man" and was genuinely into Gamestop as early as 2019. But, it didn't hurt him that so many on social media did and do harbor that desire.
On that note, that's part of the reason why I haven't (yet, anyway) jumped on AMC, Nokia, Naked, or whatever else is being chatted about.
...
I've been a bit surprised that GameStop's communications team seems to have been completely silent on these recent events. Shouldn't they be announcing a stock split, or how they plan to take on some ambitious new investment, with all of this new money that they should be able to tap into? Any sort of positive-sounding announcement by them should result in a positive movement on their stock. Don't they *want* their stock price to go up?
I'm happy for the people who get in and out of these ridiculous pump-and-dumps, but I don't want to have anything to do with them. Nokia, what a joke. I mean, if they happen to pick an indie stock that I already own, I won't complain. O0 I'll be forced to sell. High class problem.

I think it's fantastic that Gamestop has been silent. The most beautiful thing they can do, in my opinion, is not comment.
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Re: GME

Post by vnatale » Fri Jan 29, 2021 2:15 pm

CT-Scott wrote:
Fri Jan 29, 2021 1:05 pm

A couple of random thoughts...

1) I don't consider myself knowledgeable enough to have any strong opinions pro/con short-sellers (or hedge funds, for that matter). I did find this thread on Twitter by Cory Doctorow pretty informative (if accurate). Here's the specific quote of interest re:short selling:
Shorting isn't just a bet on someone else's failure - it's a way to fund bullshit-detection. If you know (or suspect) that a company is lying about its prospects, you can bet against it.


I do think that an argument can be made that people with much more power and wealth than the "little guys" trying to get involved have been manipulating markets for a long time now, and there is a lot of corruption involved with politicians, the mere existence of the Fed, etc., such that it's easy (for me, anyway) to root for the little guys and, perhaps more importantly, to root for some of the corruption and hypocricy to get exposed. I also feel, however, that this will all likely end with corrupt billionaires and politicians being unaffected long-term and the average person having an even harder time of being able to "win" the game that already favors the corrupt.

2) I was late to the game on GME (no pun intended) and am just playing with some gambling money. Enough that I'll be sad if I lose it, but won't lose much sleep. But also enough that if it skyrockets and I get out in time, I could be very happy with myself for not sitting on the sidelines. Again, though...how do I know when to time my exit? Surely someone/somewhere has written up some markers for people to look for (e.g., to detect when the bulk of the shorts have been squeezed).


Or this (which I read elsewhere)....

"There's a lot of nonsensical market theories being tossed around. I will almost guarantee in the end there's an investigation that exposes fraud here by the guys who started proposing this. It is being pitched like it is a david vs goliath thing but these things almost always involve a different Goliath manipulating the people who think they're taking on the man."
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
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Re: GME

Post by dualstow » Fri Jan 29, 2021 2:23 pm

vnatale wrote:
Fri Jan 29, 2021 2:15 pm
..read elswhere:

"There's a lot of nonsensical market theories being tossed around. I will almost guarantee in the end there's an investigation that exposes fraud here by the guys who started proposing this. It is being pitched like it is a david vs goliath thing but these things almost always involve a different Goliath manipulating the people who think they're taking on the man."
Reminds me of part of Matt Levine's latest, which showed many different angles.
You could tell a different version of the story, a more traditional one really. In this one, innocent retail investors who have succumbed to Robinhood’s gamification of markets, and who have been bamboozled by the maniacs on WallStreetBets, have been buying GameStop stock at ridiculous prices and hoping to unload it on a greater fool. In this story GameStop is more or less a classic pump-and-dump scheme; to protect retail investors, they must not be allowed to buy the stock anymore. “These small and unsophisticated investors are probably going to get hurt by this,” said Massachusetts Secretary of the Commonwealth William Galvin, as he called for the stock exchange to consider suspending trading in GameStop for a month.

In that story, Robinhood saved its clients from themselves, though at the expense of its other clients who had already bought the stock.
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Re: GME

Post by Kriegsspiel » Fri Jan 29, 2021 2:42 pm

Yea, that's what I'm saying. Nobody should be saved from themselves, the retail investors, the big hedge funds, anyone who lends money to them. Nobody.
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Re: GME

Post by CT-Scott » Fri Jan 29, 2021 2:51 pm

Well, I'm not seeing any magical boost in the price of GME today. When's it supposed to start lifting off towards the moon?
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Re: GME

Post by dualstow » Fri Jan 29, 2021 3:05 pm

CT-Scott wrote:
Fri Jan 29, 2021 2:51 pm
Well, I'm not seeing any magical boost in the price of GME today. When's it supposed to start lifting off towards the moon?
Last week? Meanwhile, it did go up 70% today, did it not?
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Re: GME

Post by Kriegsspiel » Fri Jan 29, 2021 3:13 pm

dualstow wrote:
Fri Jan 29, 2021 3:05 pm
CT-Scott wrote:
Fri Jan 29, 2021 2:51 pm
Well, I'm not seeing any magical boost in the price of GME today. When's it supposed to start lifting off towards the moon?
Last week? Meanwhile, it did go up 70% today, did it not?
Looks like it went up 25% in one hour, but on the day it's down.
You there, Ephialtes. May you live forever.
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Re: GME

Post by dualstow » Fri Jan 29, 2021 3:27 pm

Kriegsspiel wrote:
Fri Jan 29, 2021 3:13 pm
dualstow wrote:
Fri Jan 29, 2021 3:05 pm
CT-Scott wrote:
Fri Jan 29, 2021 2:51 pm
Well, I'm not seeing any magical boost in the price of GME today. When's it supposed to start lifting off towards the moon?
Last week? Meanwhile, it did go up 70% today, did it not?
Looks like it went up 25% in one hour, but on the day it's down.
What am I reading wrong here? At yahoo, I see it last closed at 193. It's down from its opening, but it closed at 325, $131+ higher.
Screen Shot 2021-01-29 at 4.28.44 PM.png
Screen Shot 2021-01-29 at 4.28.44 PM.png (50.41 KiB) Viewed 4547 times
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Re: GME

Post by l82start » Fri Jan 29, 2021 3:27 pm

-Government 2020+ - a BANANA REPUBLIC - if you can keep it

-Belief is the death of intelligence. As soon as one believes a doctrine of any sort, or assumes certitude, one stops thinking about that aspect of existence
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Re: GME

Post by vnatale » Fri Jan 29, 2021 3:45 pm

Capture.JPG
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Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
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Re: GME

Post by Kriegsspiel » Fri Jan 29, 2021 4:19 pm

dualstow wrote:
Fri Jan 29, 2021 3:27 pm
Kriegsspiel wrote:
Fri Jan 29, 2021 3:13 pm
dualstow wrote:
Fri Jan 29, 2021 3:05 pm
CT-Scott wrote:
Fri Jan 29, 2021 2:51 pm
Well, I'm not seeing any magical boost in the price of GME today. When's it supposed to start lifting off towards the moon?
Last week? Meanwhile, it did go up 70% today, did it not?
Looks like it went up 25% in one hour, but on the day it's down.
What am I reading wrong here? At yahoo, I see it last closed at 193. It's down from its opening, but it closed at 325, $131+ higher.

Screen Shot 2021-01-29 at 4.28.44 PM.png
I always count on me being the tard.

I just type in GME to the search bar and move the slider on the chart, where it opened at 381 then bounced around for a while. At 1430 it was at 256, at 1515 it was at 322 for the 25% gain in an hour, then it finished the day at $328.
You there, Ephialtes. May you live forever.
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Re: GME

Post by InsuranceGuy » Fri Jan 29, 2021 5:21 pm

[deleted]
Last edited by InsuranceGuy on Mon Mar 08, 2021 5:06 pm, edited 1 time in total.
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Re: GME

Post by Smith1776 » Fri Jan 29, 2021 5:30 pm

I'm still holding on to my GME shares. ;D ;D ;D

...

In my index funds. :P :P :P
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Re: GME

Post by Smith1776 » Fri Jan 29, 2021 5:30 pm

I wonder what Craig and Tex would have thought about this whole saga. Heck, I wonder if either of them are in the Reddit army.
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Re: GME

Post by Kriegsspiel » Fri Jan 29, 2021 5:41 pm

Well, at least InsuranceGuy got out, so he can dump his millions into his PP assets and pump them up for the rest of us schlubs!
You there, Ephialtes. May you live forever.
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Re: GME

Post by InsuranceGuy » Fri Jan 29, 2021 6:01 pm

[deleted]
Last edited by InsuranceGuy on Mon Mar 08, 2021 5:04 pm, edited 1 time in total.
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Re: GME

Post by Kriegsspiel » Fri Jan 29, 2021 6:11 pm

InsuranceGuy wrote:
Fri Jan 29, 2021 6:01 pm
Kriegsspiel wrote:
Fri Jan 29, 2021 5:41 pm
Well, at least InsuranceGuy got out, so he can dump his millions into his PP assets and pump them up for the rest of us schlubs!
Wish I could help but I don't do the PP
"You will put it all into the PP."
"ok"
Image
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Re: GME

Post by Smith1776 » Fri Jan 29, 2021 6:15 pm

Blasphemer.
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Re: GME

Post by Smith1776 » Fri Jan 29, 2021 6:17 pm

Actually this is even more appropriate:


Image
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Re: GME

Post by InsuranceGuy » Fri Jan 29, 2021 6:20 pm

[deleted]
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Re: GME

Post by vnatale » Fri Jan 29, 2021 6:37 pm

Does anyone disagree that all of this was NOT "investing" but was, instead, "speculating"?

I believe investing is for the long-term while speculating is for the short-term.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
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Re: GME

Post by vnatale » Fri Jan 29, 2021 6:40 pm

Capture.JPG
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Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
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Re: GME

Post by InsuranceGuy » Fri Jan 29, 2021 7:09 pm

[deleted]
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Re: GME

Post by dualstow » Fri Jan 29, 2021 7:14 pm

Kriegsspiel wrote:
Fri Jan 29, 2021 4:19 pm
dualstow wrote:
Fri Jan 29, 2021 3:27 pm
What am I reading wrong here? At yahoo, I see it last closed at 193. It's down from its opening, but it closed at 325, $131+ higher.

Screen Shot 2021-01-29 at 4.28.44 PM.png
...
I just type in GME to the search bar and move the slider on the chart, where it opened at 381 then bounced around for a while. At 1430 it was at 256, at 1515 it was at 322 for the 25% gain in an hour, then it finished the day at $328.
I guess that’s what Ct-Scott did, looked at the opening but not the previous closing.
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Re: GME

Post by dualstow » Fri Jan 29, 2021 7:18 pm

vnatale wrote:
Fri Jan 29, 2021 6:37 pm
Does anyone disagree that all of this was NOT "investing" but was, instead, "speculating"?

I believe investing is for the long-term while speculating is for the short-term.
Totally agree.
InsuranceGuy wrote:
Fri Jan 29, 2021 7:09 pm
I disagree, i was pretty sure GME would go up in the short-term when I bought in given the level of short interest and the addition of Ryan Cohen and his two buddies to the board.

To me speculating=gambling so 50%/50% chance you are on the right side of a trade. Investing means you have quite a bit better chance of being on the right side of a trade.
..
I think investing entails sharing in a company’s profits or receiving dividends, interest or rent.
What you did was to make an intelligent trade, to take a calculated risk, closer to gambling, that doesn’t really have anything to do with the value of the company.
But hey, a $300K gain is a $300K gain. O0 The dollars are every bit as green.
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