Wall Street Bets V The Ruling Class

[Drareg]

Wall Street Bets is a Reddit thread started in 2012, it was mainly for folks looking for stocks/stonks to buy or short, as the years passed it grew, I signed up in 2018, after the covid market drop they passed 1 million users, a few days ago this jumped to over 5 million. It’s user base really grew since the stock trading app robin hood started.
Its made up of a few experienced traders it seems but its mainly amateurs.

Here is the simplified version of story, when an objective story is printed I will post it, it’s a bit messy but I wanted to start a thread to highlight how corrupt and rigged the financial system is, this is the perfect live example unfolding!

Basically a few weeks ago they seen a change in CEO at GameStop(GME), major hedge funds were betting against game stop, shorting the stock, the folks on Wall Street bets decided the stock would go up because the new CEO was talented, they started a huge pump, basically thousands of users started buying GME, the price went from around 18 dollars to 347dollars in less than a few days, it’s now back at 197 dollars because wall streets big banks are dumping it in the off hours to save mervin capital, if mervin capital goes under it could have a knock on effect.
Its unfolding here -https://www.reddit.com/r/wallstreetbets/

One hedge fund Mervin capital had shorted GME, when the WSB pump began they started to loose money and could potentially go under, this is a huge development in the world of finance.
Mervin capital had to get funds from another big bank to stay afloat, the MSM via MSNBC started pumping fake news that mervin had liquidated there position in GME at a loss, this was a lie, folks on WSB checked the SNC fillings. They have also started the narrative that WSB is the far right!
The big banks were even trading overnight to drive the price down again, retail traders can’t do this.
Big players in the financial world are crying that WSB are engaging in market manipulation, something the big banks have been doing for years! An investigation is needed they say! Remember the big sell off before covid19 hit, senators selling their stocks etc ?

Since then Robin Hood have stopped users from trading GME while big banks can still trade on it, basically they are trying to force stop losses on GME retail traders or make sure there puts don’t pay out, it’s complete fraud, Wall Street has really been exposed since this started. The folks on WSB are refusing to give in and are exposing the tactics been used, they are holding their stocks and will pump again when the markets open, the stock exchange want to halt trading on GME stocks!

Whats happened is WSB over time has figured out that information and meaning can drive stock prices regardless of the underlying financials, the big banks have been in cahoots with the MSM using this tactic for years, now the peasants can engage in crowdsourcing a pump on a stock they are crying foul!

 

[Drareg]

A reddit users opinion on another aspect of the criminal financial mob at work-https://www.reddit.com/r/wallstreetbets/comments/l7bpf5/30_seconds_from_triggering_market_nuclear_bomb/

"I'm glad this place has quieted down enough for some actual DD written by a monkey with a keyboard and Adderall.

Disclaimer: I am that monkey. Let me explain to you what happened, play by play. I will give you illiterates who hate reading a spoiler up front:

We were within approximately 30 seconds of triggering a nuclear bomb that would have blown up the market. Do I have your attention? Here goes:

1. ⁠Yesterday, new call option strike prices were added all the way up to $570. Do I have to go over gamma squeezes again? Really? We've been over this: when deep out-of-the-money call options start being gobbled up and the price starts moving towards being in-the-money, the call writers have to hedge their risk of having their sold calls exercised, typically by buying stock. This creates upwards pressure on the market. We've been seeing these movements all week.
2. ⁠Yesterday after market, you probably saw that coordinated effort to drive the price down and spook retail investors into a mass sell-off. It didn't work.
3. ⁠Last night, Robinhood sent out a message to users: you could no longer enter into new options. You could exercise them if you had the collateral (money in the account) to do so. Very interesting and the first sign of pants-sh***ing fear.
4. ⁠Today, the market opened very strong. It opened so strong that we were looking at a self-perpetuating gamma squeeze all the way up way past $570.
5. ⁠At approximately 9:58 am, the stock had reached $468 in a parabolic move.
6. ⁠Two minutes earlier, at 9:56 am, Robinhood tweeted that they were not allowing users to buy GME stock, but they would allow selling.
7. ⁠The trend instantly halted and started a collapse downwards, before picking up a bit, especially after some retail was allowed back in.

Okay, now that you are clear on the facts, understand this: The market ran out of liquidity today, or was threatening to get close enough that they killed it. What does that mean? It means they ran out of shares and/or capital. They wouldn't let you buy new shares because we were burning through all the shares on the market.

I saw an unsubstantiated post from a user who said a small sell limit order executed at $2600 for him. Do you get the severity of the situation, if that's true? It means the buying was getting to the point where it was just about to put INFINITE pressure on the price of the shares. It means virtually any ask was getting bid.

How do you get infinite upwards pressure? A gamma squeeze triggering the mother of all short squeezes, just like we predicted. The call writers need shares to hedge. Retail is still buying more. The short sellers need over 100% of the float back. Add these together. There were more shares needed than existed on the open market. That's what a liquidity crisis is.

Listen to this to this remarkable (if infuriating) interview where the chairman of Interactive Brokers admits that they didn't have the capital to pay out the winners (us), so they took their ball and went home. DO YOU GRASP HOW INSANE IT IS THAT HE SAID THEY NEEDED TO SHUT DOWN BUY ORDERS TO "PROTECT THE MARKET"? Hello! He's not talking about the market for GME shares. He's talking about the entire market! The New York Stock Exchange. The NASDAQ. All that.

Remember the movie Snowpiercer? Do you remember that scene where the lower class people realize the soldiers who oppress them have no bullets? Go to the 1:00 minute mark of this link:

It kick starts a full blown rebellion. They have no bullets. It's the exact same in this market: No capital. No shares. Infinite losses inbound.

TL;DR: For all you who will just skip to the bottom to ask, "Do I get my tendies now?" the answer is this: they NEED NEED NEED your shares. Do you get that? HOLD. Like the guy in the movie, scream, "They're out of bullets!" and create a stampede. That's how we win.

They needed your shares so badly that they literally risked PRISON TIME to get them. They tried robbing you, and I'm not even exaggerating. They were within 30 seconds of all being wiped out today"

 

[Drareg]

Worth a read, highlights how warped wall street is, here’s hoping they pay the price on GME.

is the squeeze squoze yet?

no.

isthesqueezesquoze.com

 

[Michael Mohn]

They steal the election.
They Burn down entire city blocks.
They lmprisoned half the world under covid Lockdown. Shut down the entire economy.
They muzzle the Internet.
Libel everyone with their control of the media.
They rig the markets.

When will people rise up and finish off these elites?

 

[Kvothe]

It all sounds very romantic, but in the end it's just reddit lads trying to get rich with a single trade or two. Made some nice money today hopping on the Dodgecoin train. I'll closely watch the subreddit from now on , seeing which stocks/coins they wanna pump next.

 

[JDreamer]

It all sounds very romantic, but in the end it's just reddit lads trying to get rich with a single trade or two. Made some nice money today hopping on the Dodgecoin train. I'll closely watch the subreddit from now on , seeing which stocks/coins they wanna pump next.

No offense, but you're way out of your lane here.

This was beyond a bunch of redditors trying to make themselves money. They purposely targeted a stock that was unmercifully shorted by a hedge funds. In fact 140% of GameStops tradable shares were shorted. That should be mathematically impossible and not to mention illegal, but the pathetic SEC constantly looks the other way. It goes on all the time too.

So this group of Redditors had the buying power, the knowledge, and the social media influence to turn the tide. Most importantly they were making a point to re-direct some of that Wall Street wealth to the people. They forced what is probably the biggest short squeeze in the history of trading - which means if this had run its course the hedge funds would have had to buy back into the market a insane prices whereby going bankrupt.

Predictably the brokerages and hedge funds colluded to try to stop it to save a few of their good ol' boys. Our own Sec of Treasury Janet Yellen turned a cheek - to no surprise she was once recently paid $800k for speaking in front of the hedge funds who were most affected by this event. That is literally a screaming example of the divide between the wealthy elite and us regular folk. So now, this fight has become something bigger. Occupy Wall St 2.0 is on it's way too.

 

[tankasnowgod]

It all sounds very romantic, but in the end it's just reddit lads trying to get rich with a single trade or two.

It's clearly more that that-

That is a parabolic move on massive volume. That is more than a 10x in just 5 days of trading. If it's "just Reddit lads," well, then those Reddit lads are about to expose the scam of Naked Short Selling in a big way. That is not something you see in 10 year old companies with no fundamentals.

This is bigger than when Don Johnson broke Atlantic City.

The Man Who Broke Atlantic City

Don Johnson won nearly $6 million playing blackjack in one night, single-handedly decimating the monthly revenue of Atlantic City’s Tropicana casino. Not long before that, he’d taken the Borgata for $5 million and Caesars for $4 million. Here’s how he did it.

www.theatlantic.com

 

[Kvothe]

It's clearly more that that-

View attachment 21460

That is a parabolic move on massive volume. That is more than a 10x in just 5 days of trading. If it's "just Reddit lads," well, then those Reddit lads are about to expose the scam of Naked Short Selling in a big way. That is not something you see in 10 year old companies with no fundamentals.

This is bigger than when Don Johnson broke Atlantic City.

The Man Who Broke Atlantic City

Don Johnson won nearly $6 million playing blackjack in one night, single-handedly decimating the monthly revenue of Atlantic City’s Tropicana casino. Not long before that, he’d taken the Borgata for $5 million and Caesars for $4 million. Here’s how he did it.

www.theatlantic.com

Yeah it's a parabolic move. In crypto markets you see these moves all the time because of groups puhsing and pumping it. It was a remarkable effort, and there is a lot of genuine convinction in a lot of people participating. Nevertheless, it's a pyramid scheme par excellence. Just as all pumps, GME will collapse soon, and the majority of the people that followed the call of r/wallstreetbets will be left with a significant loss of money. The only ones winning will be the people that organized the whole thing, got in early, and left early. And the hedgefunds that are getting in now to short it, of course.

 

[tankasnowgod]

Yeah it's a parabolic move. In crypto markets you see these moves all the time because of groups puhsing and pumping it. It was a remarkable effort, and there is a lot of genuine convinction in a lot of people participating. Nevertheless, it's a pyramid scheme par excellence. Just as all pumps, GME will collapse soon, and the majority of the people that followed the call of r/wallstreetbets will be left with a significant loss of money. The only ones winning will be the people that organized the whole thing, got in early, and left early. And the hedgefunds that are getting in now to short it, of course.

You missed the whoooooooole point. Hedge funds aren't "getting in now" to short it. They shorted it prior to this move. They shorted more stock than exists. The parabolic move IS A SHORT SQUEEZE. When you short a stock, you leave yourself open to potentially unlimited losses. Melvin capital is on the hook for a massive loss, that may destroy it, and several other Hedgefunds.

When you see a 10x over 5 days in crypto (which itself is rare), it's in a tiny coin, maybe something like SALT that only has a $36 Million dollar market cap. It doesn't happen to a 10 year old stock on the NYSE that is currently sitting at about $24 Billion Market cap, and about $3 BIllion market cap before this happened.

 

[Fred]

Careful! This whole story may be a ploy. They may be setting up a fall guy for the market crash that is inevitable when Biden's economic policies are enacted. The solution to this manufactured crisis will be more censorship and restriction in communications, AND new finance and banking rules which obviously fits into the larger agenda.

 

[ThinPicking]

Careful! This whole story may be a ploy. They may be setting up a fall guy for the market crash that is inevitable when Biden's economic policies are enacted. The solution to this manufactured crisis will be more censorship and restriction in communications, AND new finance and banking rules which obviously fits into the larger agenda.

I get the vibe it's a warning shot.

Trying not to be cynical.

 

[yerrag]

Just treat the market like you would when you enter a casino:

The house always wins. How long you last before you go broke is your bragging right.

So don't go broke on everything. I used to go broke on just $20 playing dollar blackjack. But those days are gone. So I don't anymore.

It's a waste of time and a waste of life really. You're just a victim.

Many other ways to earn a living. Ooops. They took that away also.

Play pool and learn to be hustled. That's the stock market.

 

[Fred]

CNN right now: "I would not have traded options," Omar admitted, "if I had not found WallStreetBets."
Poor anonymous "Omar" lost all his money thanks to the internet.

 

[Drareg]

Yeah it's a parabolic move. In crypto markets you see these moves all the time because of groups puhsing and pumping it. It was a remarkable effort, and there is a lot of genuine convinction in a lot of people participating. Nevertheless, it's a pyramid scheme par excellence. Just as all pumps, GME will collapse soon, and the majority of the people that followed the call of r/wallstreetbets will be left with a significant loss of money. The only ones winning will be the people that organized the whole thing, got in early, and left early. And the hedgefunds that are getting in now to short it, of course.

They will get out by the time it collapses, nobody fully believes GME wI’ll be turned around nor do they care, they knew there was potential for a short term price turnaround because the CEO was changing, GME have benefited from the price increase, they can use the money to invest in the company so who knows.
What they realized is information and meaning underlying speculation in the markets, hedge funds and big banks have been at this for years, this realization gives them power, if they can crowdsource a pump then they can do this again, granted the amount of shorts hedge funds had with GME made this pump a massive gain.

 

[Drareg]

Careful! This whole story may be a ploy. They may be setting up a fall guy for the market crash that is inevitable when Biden's economic policies are enacted. The solution to this manufactured crisis will be more censorship and restriction in communications, AND new finance and banking rules which obviously fits into the larger agenda.

This is possible, I suspect they will call for legislation that allows short positions to be hidden from the public domain, it’s fraud but legislated fraud is different in their eyes.

 

[Lejeboca]

This is curious -- pure coincidence or and how couldn't this be connected to the swamp:

PURE CORRUPTION: Biden's Treasury Secretary Has Personal Gain In GameStop Stock Saga

President Joe Biden's recent Treasury Secretary pick Janet Yellen has personal interest in the recent GameStop saga between retail investors and the investing app Robinhood. On Thursday, Robinhood illegally barred investors from buying and selling GameStop stock after retail investors bought up...

trendingpolitics.com

 

[Regina]

Careful! This whole story may be a ploy. They may be setting up a fall guy for the market crash that is inevitable when Biden's economic policies are enacted. The solution to this manufactured crisis will be more censorship and restriction in communications, AND new finance and banking rules which obviously fits into the larger agenda.

+1. seems like a classic problem, reaction, solution.

 

[jondoeuk]

This will lead to a lot more regulation (a bad thing), and doesn't 'expose' real manipulation by the likes of the Fed.

 

[Regina]

Hedge Fund Manager Claims Victim Status; Claims "We Have to Work Together and Pull Together"

acecomments.mu.nu

 

[Kvothe]

You missed the whoooooooole point. Hedge funds aren't "getting in now" to short it. They shorted it prior to this move. They shorted more stock than exists. The parabolic move IS A SHORT SQUEEZE. When you short a stock, you leave yourself open to potentially unlimited losses. Melvin capital is on the hook for a massive loss, that may destroy it, and several other Hedgefunds.

When you see a 10x over 5 days in crypto (which itself is rare), it's in a tiny coin, maybe something like SALT that only has a $36 Million dollar market cap. It doesn't happen to a 10 year old stock on the NYSE that is currently sitting at about $24 Billion Market cap, and about $3 BIllion market cap before this happened.

I know what a short is, and i know what happened, thank you. Hedge funds are getting in now. What do you think would be more profitable than shorting GME before this story? Shorting it now, of course. Everyone knows it is soon going to crash down, and big investors that weren't involved prior are already oppening shorts that they know will be very profitable. This up move has run out of fuel and even holding the current levels won't be sustainable for much longer. The chance of another big move upwards (percenteagewise) is very low. The only reason I am not going to take this safe bet myself is because I admire some of the people that made this happen.