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The battle over Gamestop is getting really interesting

LordOfChaos

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AMC is a better play now because it is cheaper.

I feel like it's like cryptocurrencies. There's plenty of coins being more innovative or faster or better in many ways than bitcoin. But only Bitcoin is synonymous with it and gets the attention.

AMC may be a better buy on a fundamental basis, but none of this is based on fundamentals, it's based on attention driving it to gamma squeezes driving it to short squeezes.
 

LordOfChaos

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the market is crashing and gamestop is reaching a new daily high, this is insane to watch

I still believe it's inversing the whole market, it's absolute insanity. When it goes up funds have to de-risk on everything else.


Only we are smooth brained enough to cause a once in a decade event twice in a few weeks lol
 
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GHG

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I still believe it's inversing the whole market, it's absolute insanity. When it goes up funds have to de-risk on everything else.


Only we are smooth brained enough to cause a once in a decade event twice in a few weeks lol

So basically pretty much all the hedge funds are in on this?

Imagine giving these fuckers your money to manage your investments for you.
 

Buggy Loop

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I believe the initial catalyst of 140% short interest and the sudden mania from retail investors made a huge ripple in Wall Street and HF/banks started accumulating money and shares for the WW3 of the financial world. These guys are bloodthirsty. If they know (and they understand the game much better than us) where the shorts went (as in not all covered), and there’s a chance to blow up a highly successful HF and market maker, then I think what we are witnessing since yesterday is the result of that theory.

The movie about this will be super interesting once we know what really happened after the fallout.
 
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Larlight

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Is power hour it? Is this where we go to the moon? Cause I want to keep watching the ticker but I got shit to do today lol...
 

Buggy Loop

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Wow, took a little fraction of the volume of the 9:30 sell for roughly the same down slope.

Either blatant manipulation...

Or we're at the limits of the available shares available (smaller float = more violent up/down for less way less volume)
 

LordOfChaos

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Looks like support at 126, resistance at 152, if it breaks the top figure things get interesting. If it trades sideways until March 5th it also breaks resistance.


The first legit article out of all this maybe?


Don't shares get recalled for shareholders meetings? Wouldn't that screw naked shareholders and squeeze them?
 
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Buggy Loop

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Don't shares get recalled for shareholders meetings? Wouldn't that screw naked shareholders and squeeze them?

oh yes, yes it would fuck em up.

By the way, from 100$ to 300$ call options, the volume is so high that if they land ITM, that’s 16.1M shares the market makers have to find, 35.9% of the float (which is already dried up). That would be one of the most epic gamma squeeze. There’s gonna be a huge fight to not make that happen.
 
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Buggy Loop

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So Gamestop is now rich?

Well it was artificially brought down to the ground with the shorters having the knee on GameStop‘a neck like that infamous cop move. As for it’s “true” value as of now, who the hell knows since retail got screwed by COVID, but more importantly, what we know is this : Ryan Cohen, managed to build a company selling pet food online to be valued at 6 times what GameStop is now worth, against all odds with the likes of Amazon around,

So the speculation is not about what GameStop is worth as of today, but what it will be worth in the future after Cohen’s intervention.. So far he’s doing the good moves, has the right ideas and building a dream team to move forward.

Oh and that 140% short just so happened to create a bubble that will repeatedly pop off for god knows how long because the shorts are not covering their positions, so that attracts a lot of momentum investors, it’s a wild ride.
 

BigBooper

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I'm betting a lot of the GME investors are gamers as well, so I'm curious how many have shifted their game purchases to Gamestop to help their profits.

I tried, but they sent me a couple of "new" games, already opened with a sticker directly on the case to reseal it. I hope Cohen takes suggestions when he becomes CEO. Not going to buy more from them till they change.
 

LordOfChaos

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I'm not hating this trading sideways for a bit. Seems a lot more stable. Rocket up = rocket down but it's steadying a base here. Also just by trading sideways and a bit up it seems to have broken some resistance.

The first run went off 19 dollars. The second started at 50 and the first leg has been sharper. If it finds a stable base at 120?

 
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LordOfChaos

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Humm are you guys seeing this...Someone (whale? Many whales?) seems to have learned from the hedge fund attacks, it used to be the sell laddering at the last 10 minutes of the day to force it to close lower and avoid that catalyst reaction, now someone has spiked it EoD on a few days now.

Was some of my only green in a sea of red today lol
 
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Buggy Loop

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You guys read that the DTCC filed a change of rules so that market makers can be called to pay within an hour’s notice? In NSCC-2021-801, pg 37


Each Supplemental Liquidity Provider that has a Supplemental Liquidity Obligation on a Business Day would receive a notice from NSCC of the amount of its Supplemental Liquidity Obligation and would be required to make a deposit in that amount to the Clearing Fund within one hour of such notice. The proposed timing of funding a Supplemental Liquidity Obligation would mirror the current requirement that is applied to Members’ Required Fund Deposits, which is also calculated and collected daily, and must be funded within one hour of demand.29 Specifically, NSCC expects to deliver notification of Supplemental Liquidity Obligations to Supplemental Liquidity Providers by around 8:30 AM ET each Business Day, with deposits required by no later than 9:30 AM ET.

This is basically the DTCC protecting their ass if market makers are playing « let’s bankrupt Wall Street » with a shitty bet and they are bankrupt before the end of an event such as a squeeze and that they (DTCC) end up having to carry the bags.

A margin call for MM, imagine that? Under normal circumstances, it would fly under the radar, but with what happened to GME and the way they made RH stop buying shares, I think a lot of peoples were sweating if it goes up. Now? When this passes, they can throw a MM under the bus.
 
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LordOfChaos

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Another .6 billion down

"Shorts sellers are down nearly $6 billion in year-to-date mark-to-market losses, including $609 million in Monday’s trading alone, Dusaniwsky said by email."

 
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Buggy Loop

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DFV made ~7.8M gains (2M$ -> 9.8M$) just from his 50,000 38$ shares he bought 2 weeks ago (unrealized because this guy hodl)

Imagine, the congressman who asked him if he would buy at 40$ and smirked when DFV said “yes”.
 
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LordOfChaos

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DFV made ~7.8M gains (2M$ -> 9.8M$) just from his 50,000 38$ shares he bought 2 weeks ago (unrealized because this guy hodl)

Imagine, the congressman who asked him if he would buy at 40$ and smirked when DFV said “yes”.

Bill Huizinga. That guy looked so foolish. His questions made no sense, "Did you buy Gamestop because you were unaware of the payment for orderflow?", that should have nothing to do with buying a stock, that's Robinhood's problem.

I wonder why



(That's only the max individual contribution, if they maxed that out they undoubtedly also contributed vastly more to PACs)
 
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Buggy Loop

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No, get ready for a huge makeover


Cohen made a 32 billion $ franchise out of fucking pet food against the likes of Amazon, and chewy is still not making money.

Think about how a fucking mess the Amazon store is for a minute? A good game online distributor, digital and physical, and perhaps even streaming (they hired ex Amazon AWS), and this business is flying. The marketplace on Amazon ruined it IMO. Can’t even trust what I buy without looking into if it’s legit.
 

LordOfChaos

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Yeah sex is great but have you ever been in a meeting not thinking about it and had your watch buzz many times in a row as your first trail of limit sells is hit?


Took out 6K today so I'll always at least come away with that plus the few K and the initial investment from the first run I already took out, but the majority is still on the rocket to the moon.
 

Reizo Ryuu

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fuck it, I'm back in for a grand, put in a very tight stoploss though, so if it drops I'll barely lose anything, but more importantly I won't have to watch the ticker like a hawk lol.
 
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fuck it, I'm back in for a grand, put in a very tight stoploss though, so if it drops I'll barely lose anything, but more importantly I won't have to watch the ticker like a hawk lol.
its too volatile for you to have a high stoploss. Just going to be giving away your money. Just accept going in this late as gambling by assuming you already lost it all so you can don't get screwed by volatility.
 
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LordOfChaos

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This has quietened down so much that I didn't know if it was still going or not.

That kind of seems good...This rise is happening without the same intensity of media coverage and fomo as last time. It's like the 2017 bitcoin run when everyones grandma was asking about it up to 17K, but this years run past 50K almost had less hype it seems like?

This run seems a lot more stable so far.
 
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Buggy Loop

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That kind of seems good...This rise is happening without the same intensity of media coverage and fomo as last time. It's like the 2017 bitcoin run when everyones grandma was asking about it up to 17K, but this years run past 50K almost had less hype it seems like?

This run seems a lot more stable so far.

And this is what could be considered average volume movement. Look at AMC, for a month now on average it is over 3 times more volume, yet it can’t budge.

GME’s small float, the % of insider holdings and institutions holdings makes it perfect for movement.