SLV
SIVR
PSLV

I use SIVR the most, it has a low expense ratio

Give them time. All they need to do is call the ATF and say the words Machine Gun and Bump Stock and the boys will figure out a way to make it illegal and you have to turn it in.

NEVER say never....lol (but you’re right)

GREATEST INVESTORS OF ALL TIME:

Warren Buffett
Charlie Munger
Peter Lynch
George Soros
Benjamin Graham
u/DeepFuckingValue

— Dr. Parik Patel, BA, CFA, ACCA Esq. \uD83D\uDCB8 (@ParikPatelCFA) January 27, 2021

Please God

My body is ready.

DRUMPF SUPPORTERS DID THIS

How Trumpism explains the GameStop stock surge

In all seriousness, that's not just picking a fight with Melvin. That's fighting The Fed, the large banks and the govt

Yep, then I can show my wife and said I told you so.

CNN would be there to film you being lined up against the wall and executed by the elites.

Hmm, considering going long on some puts, but the premiums are still higher than I'd like... I'm not convinced it's ready to come back down to earth yet, this could stale mate for some time...

Pretty soon they will be treating WSB like the_donald.

It's unwound a bit but not sane at all still.  TD and CS locking down trading is going to be interesting if people are unable to unload their shares.  

Attached File

QFT

I've followed wsb for a while now. They are not very big fans of Trump.

they hate everyone.

but Papa Musk.

The media is now calling them the "Reddit Raiders"

By tomorrow, they'll be the wall street insurrectionists.

Oh Boy, I'd love to WSB on GLD or SLV. It would be epic.

Well, I just bought into Nokia with $500.  

and BBY for $100, BB for $100, GME for $100 and AMC for $100.  

Got $100 left to play with...

Is there a Reddit thread to learn just wtf is going on here?  I’m lost

https://www.reddit.com/r/wallstreetbets/

TLDR: hedgefunds short stock, rocket bros drive stock up, hedgefunds must buy stock to cover short, stonks go up further much sadness and lulz probable illegal shit

Yeah, I searched his Twitter and couldn't find it.
Thank you for the verification.

the last thing I think I would do is pay off a student loan at this point.  no interest being accrued at the moment and Biden wants to wipe them out.

I don't get why anything about that should be illegal other than hedge funds taking excessive unmitigated risk. It's on them, not retail speculators.

Never underestimate the power of people with large (well, less large now) stacks of cash to get things declared illegal.

I'm not SEC but assuming they aren't still working on sending Edward to prison because he forgot to record a lunch with Jones, they probably have something that covers this.

Edit:

Also maybe reddit will get sued into oblivion and have to shut down.

Did a lil rough math. I'd say Citadel is french-fucked on this one.

They'd need to have bought somewhere between 20-80m shares of GME to hedge their options book today. Only 80m shares changed hands in total.

This is going to get really interesting. If GME isn't way down by 4PM on Friday, Citadel could blow up.

I wish I knew more about investing so I could get in on this. [sad panda]

Bought BB $40 2/26/21 calls

Was up as much as 50%

Up 25% at the close

EFFFFFF. I was waiting for a market downturn to make silver cheap and buy some up.

This is quite possibly the dumbest move ever made by Wall Street.

It's bad for them.  And every single day it gets worse.

Life lessons.  Insatiable greed.  David vs. Goliath.  Memes.

There's a movie here.  
Power to the Players

Which is complete B*llSh*t....I lost a shitload of money today in the market no one is going to cover me.  These guys deserve what they get.  


I'm curious how much of the market sell off is due to them selling other assets to cover their margin and short positions.

Working hard to stop it, that's where they are.

"Wall Street vs Main Street", except that Wall Street gets to game the rules.

https://www.reuters.com/article/us-gamestop-hot/wall-street-vs-main-street-fight-quashes-hedge-funds-as-gamestop-keeps-rallying-idUSKBN29W131

Wall Street vs Main Street fight quashes hedge funds as GameStop keeps rallying

(Reuters) - Retail traders scored against professionals on Wednesday as hedge funds Citron and Melvin retreated with heavy losses on short positions in GameStop in the week-long battle between Wall Street and Main Street, with more calling for scrutiny of anonymous stock trading posts on social media.

Funds sold long positions in stocks to pay for the losses, which sparked a 1% slide in Wall Street’s main indexes.

The battle started when famed short seller Andrew Left of Citron Capital bet against GameStop and was met with a barrage of retail traders betting the other way. The short squeeze has been so sharp that funds were selling long positions in stocks to pay for the losses [.N]

“Because the rules are changing, people don’t like that,” technology investor Chamath Palihapitiya told CNBC. “We are moving to a world where ordinary folk have the same access as professionals and can come to the same conclusion or maybe the opposite. The solution is more transparency on the institutional side not less access for retail.”

Citron has been a target for some on Reddit’s “WallStreetbets” thread, where posts helped drive gains for several niche stocks. Left said in a video post that Citron abandoned its bet against GameStop shares after the video game retailer’s value soared almost tenfold in a fortnight.

“I have respect for the market,” Left said in the post.

Melvin Capital Management closed out its short position in GameStop on Tuesday after taking a huge loss.

The Goldman Hedge Industry VIP ETF, which tracks hedge funds’ most popular stocks, has fallen for five straight sessions, its longest losing streak since February 2020.

Commentators and lawyers called for scrutiny of the moves. Nasdaq chief Adena Friedman said exchanges and regulators should watch whether anonymous social media posts could be driving “pump and dump” schemes.

“If we see a significant rise in the chatter on social media … and we also match that up against unusual trading activity, we will potentially halt that stock to allow ourselves to investigate the situation,” Friedman said on CNBC.

Friedman added that exchanges and regulators should investigate if they suspect “that there may be some manipulation.”

The U.S. Securities and Exchange Commission (SEC) declined to comment. GameStop and AMC are both listed on the New York Stock Exchange.

The White House and U.S. Treasury Department are monitoring the situation, White House Press Secretary Jen Psaki said. Reddit has not been contacted by authorities over stock surges driven by a message board on the platform, a spokeswoman said.

Commentators have questioned moves in several Reddit-hyped stocks. Some on Wall Street wonder share prices across the market have soared into bubble territory.

GameStop’s stock has surged nearly 700% in two weeks, lifting the struggling retailer’s market value from $1.24 billion to more than $10 billion. BlackBerry Ltd soared 185% on Tuesday, on course for its biggest monthly gain ever.

GameStop surged another 113% to $316.08 on Wednesday and AMC's stock was up 285% to $19.07, while the broader stock market .SPX fell 1.7%. TD Ameritrade limited trading in GameStop and others, CNBC reported.

Along with Finnish technology firm Nokia Oyj , the companies were among the most heavily traded, with Reddit threads humming with chatter about the stocks. Nokia said on Wednesday it was not aware of any reason for the continuing surge in its share price.

Such inflated stocks will eventually come back to their fair value, said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.

“It does have a David and Goliath feel where the Reddit crowd is taking on the most shorted stocks by the largest hedge funds in the world and winning.”

BlackRock Inc, the world’s largest asset manager, could have made gains of about $2.4 billion on its investment in GameStop. Its share holdings amounted to roughly a 13% stake as of Dec. 31, 2020, a regulatory filing showed.

“It’s a dangerous game to play from both sides of the spectrum, whether you’re long or short,” said Matthew Keator, managing partner in wealth management firm the Keator Group in Lenox, Massachusetts.

“You get close enough to the fire you’re going to get burned ... it won’t matter what social media is cheering the stock on.”

According to research firm S3 Partners, total short interest in GameStop was $10.6 billion as of Wednesday. In the last seven days the short has increased by $117 million, or 1.1%, as the stock price surged.

Year-to-date, GameStop shorts have lost $19.15 billion, including $9.85 billion on Wednesday at a $285 share price, according to Ihor Dusaniwsky, S3’s managing director of predictive analytics.

“These large mark-to-market losses will be squeezing many existing shorts out of their positions, but we are still seeing new short sellers taking their place as they look to short at the top and ride a windfall of profits,” he said.

REVENGE OF ‘DUMB MONEY’

Long dismissed as “dumb money,” retail traders have made stocks move in ways that defy fundamental analysis. Global bets worth billions of dollars could be at risk as amateurs challenge the bearish positions of influential funds.

On GameStop, the retail investor army has gone toe-to-toe with institutional short-sellers, a traditional area for hedge funds.

The 20 small-cap Russell 2000 index companies with the biggest bearish bets against them have risen 60% on average so far this year, easily outperforming the market, a Reuters analysis of Refinitiv data shows.

Europe’s most-shorted stocks also saw big price swings on Wednesday. Experts are debating whether these massive share moves should be considered ominous signs for the market.

Reddit co-founder Alexis Ohanian said the rise of retail investors is healthy.

“That’s the sentiment, the public doing what they feel has been done to them by institutions,” Ohanian said in a tweet on Wednesday. “I know they’re all ‘random people on the internet’ but there’s a lot more empathy and community there than people realize.”

NOt really. I took  business class 20 years ago...
 in this case there is a scarcity of 100 dollar bills so the person who sold you the option might advertise "hey I want a 100dollar bill, ill pay you 105 in 20's for it; but nobody is taking so the price is climbing to insane levels (300+ dollars for that initial 100 dollar bill),
in this case the initial 100 dollar bill was 4 bucks and guy bought 1400 options(at 100 shares each , so when the guy exercises his option to buy on said date he sell those options to the firm that provided them for market price(in this case 300 bucks minus his initial 4, 296, times 100, times 1400, something like 40 million bucks worth to that one guy, and everybody else on reddit was like "hey this company said they will be paying 105 for 100 dollar bills on Friday, ill buy some and hold them so they are worth more, and EVERYBODY bought and held so there are NONE for the company to sell on Friday for under 300 bucks).

The shorts will keep coming because it is over-valued and someone is going to ride it down at some point and reap a windfall.  Hedge funds just can't trigger the fall on this one like they are accustomed to doing.

GME is dramatically undervalued at the ~$340 it is currently trading at. Its true value is Citadel's marginal ability to pay to stay in business. Or, the FED's willingness to print away Citadel's failure to prevent counter-party contagion. That pain point hasn't been reached yet.

The rest of the things being traded are mostly pump and dumps. GME is now a financial singularity with no clear way out.

All the fake wealth is panicking.  I love it.

I wondered how long it would be before they saw the opportunity that is commodities. I'm finna be hood rich soon.

Looks like fun. I'm in for one share of GME even though I have no idea beyond the basics what is going on.

If TD and Schwab had hedgefunds that stood to gain or lose via halting would this be an FCC as well as an SEC violation?

Dude its a pump and dump.

We can bitch all day about big money, but this is a pump and dump with rocket bros at the head.

You can't argue that it's not blatant market manipulation regardless. If Wallstreet does this shit it's a masterful move, If some zoomer does it, fuck him he can't sell his holdings until the drop enough that he ends up taking a loss? Fuck that shit.

well said

Big hedge fund shorts a stock, group on reddit and discord sticks the hedge fund good and profits.  Now talking heads and the SEC think this is unfair lol.

post from reddit.

No, that's the interesting part. This isn't a pump and dump. It's an externality of over-leveraged short and options positions being exposed to tail risk. GME is a financial singularity now.

That doesn't mean you should put money in it. I don't think anyone gets paid out of this, since no-one on the other side of the trade can afford to pay...