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Bitcoin  Rating:  Rating
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 Posted: Wed Jan 27th, 2021 05:27 pm
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Blazer
MR HOCKEY


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Not related to Bitcoin, but wasn't sure where to put this.

Anyone know what's happened with the market today? Reading something about some crazy Gamestop and AMC manipulation, trading went insane, and they stopped all trading this morning.



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 Posted: Wed Jan 27th, 2021 05:27 pm
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MR HOCKEY


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Apparently Fidelity crashed. Ameritrade went down temporarily too.



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"Well, maybe I like the nightlife just a little bit more than I like the damn gym, jack! And when you're makin' $500,000 a year, there ain't no reason to change what you're doing." - Dusty Rhodes, 1/4/1986
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 Posted: Wed Jan 27th, 2021 05:43 pm
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kargol



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Blazer wrote: Not related to Bitcoin, but wasn't sure where to put this.

Anyone know what's happened with the market today? Reading something about some crazy Gamestop and AMC manipulation, trading went insane, and they stopped all trading this morning.
I think it's reddit users getting pissed off at Wall Street trying to kill off Gamestop by shorting its shares, so they are basically buying loads of Gamestop shares to put the price up and stop the shorting working.



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 Posted: Wed Jan 27th, 2021 05:44 pm
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Kriss
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Blazer wrote: Not related to Bitcoin, but wasn't sure where to put this.

Anyone know what's happened with the market today? Reading something about some crazy Gamestop and AMC manipulation, trading went insane, and they stopped all trading this morning.


https://ftw.usatoday.com/2021/01/gamestop-stock-gme-short-selling-explained

https://thedeepdive.ca/gamestop-the-gme-short-squeeze-explained/

https://www.vox.com/the-goods/22249458/gamestop-stock-wallstreetbets-reddit-citron



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 Posted: Thu Jan 28th, 2021 01:16 am
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srossi
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So I bought back into Bitcoin at right about $30,000 this morning. I’ve been in Ethereum at $1,250 for a little while. My targets are $45,000 and $2,000 respectfully.

Last edited on Thu Jan 28th, 2021 01:16 am by srossi



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 Posted: Thu Jan 28th, 2021 02:13 am
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gwlee7
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When this short squeeze on Gamestop breaks, and it will, the sell off will so be fast that most of the people who are driving the price up thinking they are being cute and smart by sticking it to the man, will be jumping off bridges.  If they think that Robinhood will be able execute “free” trades on the secondary market fast enough for them to get out before all their gains get wiped out they are mistaken.   They need to be dumping it now.  



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I just think it's amazing that Trump is really on Twitter all day, personally writing this shit. He's about 3 beers away from joining S&W and getting into a flame war with Ports.----srossi
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 Posted: Thu Jan 28th, 2021 04:13 am
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Quattro

 

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Yep

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 Posted: Thu Jan 28th, 2021 11:04 am
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silentkiller



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gwlee7 wrote: When this short squeeze on Gamestop breaks, and it will, the sell off will so be fast that most of the people who are driving the price up thinking they are being cute and smart by sticking it to the man, will be jumping off bridges.  If they think that Robinhood will be able execute “free” trades on the secondary market fast enough for them to get out before all their gains get wiped out they are mistaken.   They need to be dumping it now.  
Seeing that it just hit 440 if I was in I'd stay and see if it could actually hit $500. Though before this started people were saying they wanted to hit $1000 which believe it or not might actually happen. 



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 Posted: Thu Jan 28th, 2021 11:41 am
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KGB

 

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I have a schadenboner that's lasting more than 4 hours. Should I seek help?



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 Posted: Thu Jan 28th, 2021 01:24 pm
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Principal_Raditch



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I bought AMC when it was 2.36 back in November, since it's a local company and was hoping to see them push to $5/share. Dumped it yesterday at $19.50. Obviously wish I'd put 100k into it.... Premarket today is down @38%. 

Last edited on Thu Jan 28th, 2021 01:28 pm by Principal_Raditch

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 Posted: Thu Jan 28th, 2021 01:29 pm
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srossi
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Principal_Raditch wrote: I bought AMC when it was 2.36 back in November, since it's a local company and was hoping to see them push to $5/share. Dumped it yesterday at $19.50. Obviously wish I'd put 100k into it....
That would've been incredibly risky since it should've gone to zero.  This manipulation is ridiculous and shows what a joke the stock market is.  Stock price means less than nothing when it comes to the health of a company.



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 Posted: Thu Jan 28th, 2021 01:31 pm
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Principal_Raditch



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srossi wrote: Principal_Raditch wrote: I bought AMC when it was 2.36 back in November, since it's a local company and was hoping to see them push to $5/share. Dumped it yesterday at $19.50. Obviously wish I'd put 100k into it....
That would've been incredibly risky since it should've gone to zero.  This manipulation is ridiculous and shows what a joke the stock market is.  Stock price means less than nothing when it comes to the health of a company.

I only bought 1000 shares...so my outlay wasn't too much. I figured they'd get some kind of financing, just not the almost Billion that they ended up getting. 

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 Posted: Thu Jan 28th, 2021 04:02 pm
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tamalie
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I wonder if all the people jumping in on the GameStop stock gambit realize that it’s preposterously overvalued because it’s a meme and it’s a bunch of day traders trying to screw with hedge fund weasels for the sake of making a point that gets murkier by the day.

At a certain point the stock price is going to top out and then start falling. That fall could be fast and steep. So depending when you got in and for how much, if you don’t get out at the right time, you could be more ruined on a proportional basis than the hedge funds you tried to ruin.

As a play on the old saying goes, if you owe the bank $50,000, you have a problem, but if you owe the bank $50,000,000 then the bank has a problem. One hedge fund just got financing in excess of $1,500,000,000 to cover its potential losses. They’ll be fine. Some guy who dumped in his entire 401k is in a different spot if it goes south.

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 Posted: Thu Jan 28th, 2021 05:34 pm
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KGB

 

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Although our end goals are certainly diametrically opposed, this is one subject on which the far left and the dissident right have a lot of common ground.  Wall Street is just another member of the DC/Media/Tech uniparty.  Today, they changed the rules on the fly so that the little guy gets shut out while the oligarchs ensure their continued chokehold on the nation's (fiat) wealth.  What next, 30,000 troops, ideologically vetted for their loyalty to their masters, stationed on Wall Street so that the commoners don't get any ideas?  

Even Ted Cruz and AOC are bedfellows today.  

https://twitter.com/tedcruz/status/1354833603943931905 



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 Posted: Thu Jan 28th, 2021 06:18 pm
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silentkiller



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KGB wrote: Although our end goals are certainly diametrically opposed, this is one subject on which the far left and the dissident right have a lot of common ground.  Wall Street is just another member of the DC/Media/Tech uniparty.  Today, they changed the rules on the fly so that the little guy gets shut out while the oligarchs ensure their continued chokehold on the nation's (fiat) wealth.  What next, 30,000 troops, ideologically vetted for their loyalty to their masters, stationed on Wall Street so that the commoners don't get any ideas?  

Even Ted Cruz and AOC are bedfellows today.  

https://twitter.com/tedcruz/status/1354833603943931905 

This is what I think is the really strange and big part of it. Almost everyone except for the hedge fund guys are coming down hard on Robinhood for this absurd limiting of buying stock from Gamestop and about 10 other companies. 



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