Wall Street Bets V The Ruling Class

tankasnowgod

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What was your point again?

My point was very clear from the start...... this is NOT a normal trade. That's all you claimed in the beginning, but now, you admit this move basically killed a hedge fund. You have moved the goalposts all the way across the field, even though you now deny it.

I never said Gamestop was going to stay up forever, either. I think it will come down, probably soon. But I think it could go much higher before it comes down as well. It may well be in the $10 range by June, but may hit something like $2000 or $10,000 (depending on the severity of the squeeze) before that happens.

I'm not in Gamestop, and I certainly wouldn't purchase anything around Gamestop at these levels, nor would I be shorting it right now, either, even if I had a broker that assured me he could get those trades. I am just watching one of the most unique events in trading history. This will be up there with the events in 2008, and the Hunt Brothers silver trades in the late 70s.
 

Kvothe

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My point was very clear from the start...... this is NOT a normal trade. That's all you claimed in the beginning, but now, you admit this move basically killed a hedge fund. You have moved the goalposts all the way across the field, even though you now deny it.

I never said Gamestop was going to stay up forever, either. I think it will come down, probably soon. But I think it could go much higher before it comes down as well. It may well be in the $10 range by June, but may hit something like $2000 or $10,000 (depending on the severity of the squeeze) before that happens.

I'm not in Gamestop, and I certainly wouldn't purchase anything around Gamestop at these levels, nor would I be shorting it right now, either, even if I had a broker that assured me he could get those trades. I am just watching one of the most unique events in trading history. This will be up there with the events in 2008, and the Hunt Brothers silver trades in the late 70s.

I never denied that this was a massive, singular move, or that a hedge fund got killed. I merely pointed out that this shouldn't be glorified as the beginning of some sort of lasting revolution. It's basically a pyramide scheme, and many people will lose their money, some so much that it will destroy their lifes because they swallowed this story whole. The makers of this story probably got out already, after making a lot of money. Yesterday, browsing through r/wallstreetbets I came across a post that said "I invested my whole year's salary, follow my example" - the first reply to this was "me too lets keep fighting". Unfortunately the person forgot to switch his accounts, as both posts were written by the same guy. I expect there are hundreds of such accounts to give the impression that this is some sort of revolution of the common man. There are no heroes in the stock market, just winners and loosers.
 

yerrag

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You can actually swing the odds in your favor in blackjack.
I would rather spend more time on the blackjack table than trade stocks using the Elliott Wave while staring at the screen all day. Blackjack isn't rigged and drinks are served. And playing poker, while it faces me up against great poker players, doesn't quite get me to the level of the greatest poker player, unrigged - the market. When rigeed though, you lose all the time. In the long run.

And the US market is perhaps the most pretentious free-market market in the world, simply a microcosm of what everything in the US has been made to be. Rigged elections. Rigged wars. Rigged terrorism. Rigged justice system. Rigged scientific studies. Rigged school admission systems. Rigged fiat currency. Rigged new airplane safety and approval system. I can't name them all. It's an endless list.
 
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Drareg

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This stock may continue to rise regardless of who pulls out, before it shot up in price the rumor is many billionaires were backing the changes at GameStop, if this is true then it should continue to stay elevated.
 

Lejeboca

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Rigged elections. Rigged wars. Rigged terrorism. Rigged justice system. Rigged scientific studies. Rigged school admission systems. Rigged fiat currency. Rigged new airplane safety and approval system. I can't name them all. It's an endless list.

Yeah, the "Emperor's New Rigs" , to sum up them all.
 

Kvothe

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Looks like the revolution is over. Wonder how many poor, gullible fools lost all their money in this Ponzi scheme.
 

LeeLemonoil

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Looks like the revolution is over. Wonder how many poor, gullible fools lost all their money in this Ponzi scheme.

That’s not correct. The HFs executing short ladder attacks and brokers artificially curbing demand by restricting buys of the shares.
Still, the shorts aren’t covered fully as of yet.
The HFs have already lost billions and still are at risk of losing many more - though the tides have turned via illegal and immoral actions.

But yes, many folks have lost lots, especially today

Still, the term „ponzi scheme“ is absolutely not applicable here. It never was one and it wasn’t meant as one from the wsb-side.

An unusually low-informed post for your standards
 
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Drareg

Drareg

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Looks like the revolution is over. Wonder how many poor, gullible fools lost all their money in this Ponzi scheme.

It’s not over, people spread betting would have lost, spread betting is for idiots, those who own shares for real can just hold.
 

S-VV

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It would appear a lot of new bag holders have been created. Meanwhile in $LINK...
1612366049619.png

WTF WAS THAT?!?!?
 

S-VV

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BTW, I really hope it moons. Many people have invested money they can't afford to loose, they deserve one last pump to get rid of their bags. F*ck WallStreetBets
 

rebuke

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When is the magical squeeze supposed to happen is Melvin effectively postponing it through fraud and manipulation?
 

Kvothe

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BTW, I really hope it moons. Many people have invested money they can't afford to loose, they deserve one last pump to get rid of their bags. F*ck WallStreetBets
I'll translate: "Many people lost their money in a pump&dump. I hope they get another pump&dump so that they get back their money at the expense of some other gullible fools."
 

LeeLemonoil

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I'll translate: "Many people lost their money in a pump&dump. I hope they get another pump&dump so that they get back their money at the expense of some other gullible fools."

Again, wrong on all acounts. There wasn’t a dump. There was coordinated, illegal market manipulation by short ladder attacks = pseudo sales among hedgefunds.

This your second blatant misconception and misinterpretation of the situation after wrongly calling out a ponzi-scheme.

One more, and you will have to buy a GME-share as punishment
 

S-VV

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I'll translate: "Many people lost their money in a pump&dump. I hope they get another pump&dump so that they get back their money at the expense of some other gullible fools."
Think of it as a redistribution of losses for those unfortunate enough to buy at the peak with money the need.This was the first PnD that was memed outside of small circles, and it caught many people off guard
 
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Drareg

Drareg

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I'll translate: "Many people lost their money in a pump&dump. I hope they get another pump&dump so that they get back their money at the expense of some other gullible fools."

They can hold the stock.
 
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Drareg

Drareg

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When is the magical squeeze supposed to happen is Melvin effectively postponing it through fraud and manipulation?

The hedge funds and big banks are coordinating together, they have the capital to keep it going for a while, how long nobody knows, you can see the sell off in other stocks to cover the short in GME.
 

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