OT: Stock trading

[UConnSwag11]

Not selling anything. Adding more to $nakd

 

[UConnSwag11]

CNBC twisting themselves into more than a pretzel trying to cover for the suits

 

[JohnFSilver]

OMG all services are restricting buying of AMC and GME

Ridiculous. They are allowing hedge funds to close out their position because they whined.

 

[StllH8L8ner]

CNBC twisting themselves into more than a pretzel trying to cover for the suits

Did you see the interview with Chamath? Great stuff.

 

[UConnSwag11]

Did you see the interview with Chamath? Great stuff.

yup and Mark Cuban this morning

 

[UConnSwag11]

Portnoy is going to destroy Robinhood

 

[HuskyHawk]

I can't trade pre market anyway.

 

[Deepster]

Ridiculous. They are allowing hedge funds to close out their position because they whined.

Hey JFS, can you explain this a little more like I'm a toddler?

 

[navery12]

Hey JFS, can you explain this a little more like I'm a toddler?

The hedge funds are required to buy these stocks back by a set time (call it 3:30 PM today for example). Robinhood and others closed out buying more stock on their apps so that the price can't go higher and the hedge funds lose any more than they have already

 

[aburks41]

Robinhood delisted $GME. You cannot even search for it anymore on the app lmao. W..T..F are they thinking??

 

[Deepster]

The hedge funds are required to buy these stocks back by a set time (call it 3:30 PM today for example). Robinhood and others closed out buying more stock on their apps so that the price can't go higher and the hedge funds lose any more than they have already

Well, that doesn't sound all that legal.

 

[JohnFSilver]

Hey JFS, can you explain this a little more like I'm a toddler?

The hedge funds need to buy stock that they borrowed. Jerks borrowed stock to sell at 20 hoping to return the share to the owner at 13.

But, when it went crazy, they are looking to get out of the contract. Only way to do that is to buy stock and fast. So, if you can only sell shares, I would think that hedge funds are going to be able to buy the shares. Not retail investors.

So, hedge funds don't have the competition of the retail investor in acquiring shares to close their position.

 

[JohnFSilver]

Well, that doesn't sound all that legal.

If it is, it shouldn't be. This is regulators protecting hedge funds.

 

[CTBasketball]

This move by TDAmeritrade, Robinhood, etc is all very highly illegal.

 

[tiger8mush]

$nok down 20%. good buying opportunity, or is this the "dump" part of "pump & dump"?

 

[aburks41]

$GME $AMC $NOK are all plummeting now

 

[pepband99]

The hedge funds need to buy stock that they borrowed. Jerks borrowed stock to sell at 20 hoping to return the share to the owner at 13.

But, when it went crazy, they are looking to get out of the contract. Only way to do that is to buy stock and fast. So, if you can only sell shares, I would think that hedge funds are going to be able to buy the shares. Not retail investors.

So, hedge funds don't have the competition of the retail investor in acquiring shares to close their position.

One thing being missed - the issue isn't just shorting and contracts. The issue is doing that WITHOUT hedging on something else to compensate. If you're hedged well, you can sit out all of this GME nonsense, and watch it plummet back to earth with a smile.

This is all about a hedge fund not hedging, and being caught.

 

[aburks41]

CNBC going on about pensions being invested in Hedge Funds. If a hedge fund is shorting stocks with PENSION FUNDS then they need to be shut down immediately. That is incredibly incredibly dangerous

 

[StllH8L8ner]

It may have been said here before but probably worth repeating, if you're thinking of going into any of these names, only invest what you're willing to lose. I'm sitting on the sideline watching this debacle unfold and while I like the idea of Main Street vs Wall Street, it's not going to end well for some.

 

[HuskyHawk]

It may have been said here before but probably worth repeating, if you're thinking of going into any of these names, only invest what you're willing to lose. I'm sitting on the sideline watching this debacle unfold and while I like the idea of Main Street vs Wall Street, it's not going to end well for some.

Exactly. I would gladly throw some $ in for the fun of it, but only money I can afford to lose. Treat it like you would money spent at a casino in Vegas.

Curious to see if these stocks are available to me via Fidelity when the market opens.

 

[UConnSwag11]

It may have been said here before but probably worth repeating, if you're thinking of going into any of these names, only invest what you're willing to lose. I'm sitting on the sideline watching this debacle unfold and while I like the idea of Main Street vs Wall Street, it's not going to end well for some.

well, yeah

 

[StllH8L8ner]

well, yeah

Ha...that wasn't meant for you! More the "I'm new to this" folks.

 

[uconndogs]

It may have been said here before but probably worth repeating, if you're thinking of going into any of these names, only invest what you're willing to lose. I'm sitting on the sideline watching this debacle unfold and while I like the idea of Main Street vs Wall Street, it's not going to end well for some.

It's not going to end well for a lot of folks. There is no doubt in my mind that there are a lot of newbie investors that have not a clue how this all works. Think of folks who have an unhealthy predilection to gambling. This is really no different and it has more of a feel of legitimacy - I'm trading and investing.

As for the Wall Street crowd, there big boys and if they get banged around a bit so be it....imo.

 

[HuskyHawk]

So I have access to all of these WSB stocks on Fidelity.

Edit: Robin Hood is trash.

 

[Brochacho]

Man, rich people suck. They got exposed by the layman and took their ball and went home. lol.