Robin Hood just ended trading on GameStop and AMC

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.reddit.com/r/wallstreetbets/comments/l9cz1k/for_everyone_that_just_joined_because_of_gme_and/

This is exactly why WSB is going to ruin a lot of individuals who get suckered into a ponzi scheme. Tiny disclaimer at the bottom does not absolve them of guilt.

Regular people will go bankrupt listening to this. Meanwhile Melvin Capital will have a bad year, and then they will keep on managing a hedge fund until they retire.

If this frenzy is artificially popped by tilting the scales even further in favor of the hedge funds then the people you are concerned about will get hurt worse. We have to let this play out naturally. Those risks are forseeable. The risks of popping this artificially are not.

No, those people will get hurt by the same amount. There will be fewer winners in the ponzi scheme though.

And frankly there is no "scales tipping" going on. If you are butthurt about Thursday, get a bigger and better broker. Honestly you can't expect to take on the seventh fleet from a speedboat with a machine gun on it. Talk about how a little company like Robin Hood somehow rigged the system is a conspiracy theory. And ultimately the SEC will write a report that says they were in danger of going below their required capital ratios. WSB will, like good conspiracy theorists, claim that this is proof that "THE CONSPIRACY GOES EVEN DEEPER".

The WSB instructions on Thursday were to hold. And RH never restricted holding. WSB was mad that people might sell what they freely own. Think about that.

Ultimately the WSB plan will fall apart because they aren't a unified syndicate with pooled profits, and when profit taking comes, it's every man for himself. There will be no settlement day where the people who got in at $300 or $400 get money. You could already be suckered. For all you know, some of the paper multimillionaires may have already hedged their positions. If you are relying on their portfolio screenshots to tell the truth, good luck with that. The guy who started this never intended to launch a crusade to destroy short selling. Why would you expect him to take up the cause now? Fear that his life will be threatened if he does, maybe. It is rational to expect that he is looking out or his family right now. He's a renter who currently has $40M. and knows how to lock in those profits without showing his cards. Not saying he did, but why wouldn't he?

Most squeezes and market cornering efforts fail. Sometimes both sides go down the toilet. And those efforts are an individual or a small group of highly unified individuals. In this case you have thousands of people with indvidual motives. Those range from a $500 bet to "stick it to the man", to someone going all in to pay off college debt, to someone else who doesn't even understand what buying on margin means but sees a boat or a house in his future.

I have seen a few people describe them as "collateral damage". Hey, you aren't a bond villain. You're a person who must weigh the ethics of participating in this scheme based on misinformation, in the same way a member of Congress needs to weigh the ethics of challenging certification of the vote with an uneducated/delusional mob outside.

Wow, how deep in the hole are you? Because this is some hillarious paranoia. It'll be ok, you'll be fine. Cover your shorts and take your losses. You shouldn't be in the game if you can't handle the consequences.

If you must know. I do use multiple of those "real" brokerages. What's more the only position I have in GME are puts. That doesn't change the fundamental analysis of what happened or what will happen. It also doesn't change the policy position I advocate. So called smart money has been taking a pound of flesh from retail constantly. The front run the order flow to take a skim. The pump up penny stocks to start momentum and then crash it when retail jumps in. They do all this simply be virtue of having more capital, more leverage, and more information. For once, due to a confluence of unique situations, they turned the tables and succeeded. They did this through hard work and smart analysis. The idiots should be praised not villified.

And seriously, may a thousand perils rain down upon you for comparing them to seditionist traitors. I dont care how much money you are loosing. That's not cool.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Did WSB uncover a huge scam walk street had been running?

https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/

Basically, the allegation is that there may be more shares floating around than actually exist! Wall street has been creating fake shares, and if you bought gme stock you may only have an iou for a stock, not the actual stock. The number of failures to deliver for GME is perplexing, and Michael Burry was wondering why it took 3 weeks to deliver shares when he requested delivery of the ones he owned.

Um, the fact that short interest rose above 100% is neither illegal nor hidden.

What you said does not contradict what they said. Shares can be lent out for options but the lender needs to keep track of which shares are lent out and whether or not they still have a right to lend them. This is looking like mortgage backed securities and the failure to properly record all over again.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Did WSB uncover a huge scam walk street had been running?

https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/

Basically, the allegation is that there may be more shares floating around than actually exist! Wall street has been creating fake shares, and if you bought gme stock you may only have an iou for a stock, not the actual stock. The number of failures to deliver for GME is perplexing, and Michael Burry was wondering why it took 3 weeks to deliver shares when he requested delivery of the ones he owned.

Um, the fact that short interest rose above 100% is neither illegal nor hidden.

What you said does not contradict what they said. Shares can be lent out for options but the lender needs to keep track of which shares are lent out and whether or not they still have a right to lend them. This is looking like mortgage backed securities and the failure to properly record all over again.

Yes, they didn't uncover anything, and it's not a huge scam. "Uncover" implies hidden, and "scam" implies illegal. Short interest reports clearly show this happens. If people are waking up to the dangers of short sales, options, etc. great.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Did WSB uncover a huge scam walk street had been running?

https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/

Basically, the allegation is that there may be more shares floating around than actually exist! Wall street has been creating fake shares, and if you bought gme stock you may only have an iou for a stock, not the actual stock. The number of failures to deliver for GME is perplexing, and Michael Burry was wondering why it took 3 weeks to deliver shares when he requested delivery of the ones he owned.

Um, the fact that short interest rose above 100% is neither illegal nor hidden.

Naked short selling is illegal. But the question is who is doing it? The funds? And if so, are the clearing houses and DTC in cahoots? That's gigantic fraud.

Users on WSB showed some whacky sales, where RH showed shares of fractional holdings sold for over $2000. They literally posted the screen shots. Fractional shares don't exist, meaning it is RH shares being sold, and RH accidentally leaked info on how the price of true stock trades. Funds and wall street are using counterfeit shares to artificially drive the price of the stock down, harming retail and other investors.

People are now starting to day that everyone needs to call up and demand physical delivery of the shares so that there can be a true count of the total number of real shares out there. If it ends up being the case that GME is being manipulated with 100-200% more shares than actually exist, it is a huge fraud and a crime that goes high up. WS may be terrified they're getting exposed, which is why they are trying to block retail from buying shares.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Did WSB uncover a huge scam walk street had been running?

https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/

Basically, the allegation is that there may be more shares floating around than actually exist! Wall street has been creating fake shares, and if you bought gme stock you may only have an iou for a stock, not the actual stock. The number of failures to deliver for GME is perplexing, and Michael Burry was wondering why it took 3 weeks to deliver shares when he requested delivery of the ones he owned.

Um, the fact that short interest rose above 100% is neither illegal nor hidden.

Naked short selling is illegal. But the question is who is doing it? The funds? And if so, are the clearing houses and DTC in cahoots? That's gigantic fraud.

Users on WSB showed some whacky sales, where RH showed shares of fractional holdings sold for over $2000. They literally posted the screen shots. Fractional shares don't exist, meaning it is RH shares being sold, and RH accidentally leaked info on how the price of true stock trades. Funds and wall street are using counterfeit shares to artificially drive the price of the stock down, harming retail and other investors.

People are now starting to day that everyone needs to call up and demand physical delivery of the shares so that there can be a true count of the total number of real shares out there. If it ends up being the case that GME is being manipulated with 100-200% more shares than actually exist, it is a huge fraud and a crime that goes high up. WS may be terrified they're getting exposed, which is why they are trying to block retail from buying shares.

They should not allow brokerages to lend out shares at all.

[Anonymous]

Frankly, you should have to hold any stock you buy for at least 3 months. Also, when you put in a buy or sell, a random number generator should choose the time when it occurs during the next day.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Did WSB uncover a huge scam walk street had been running?

https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/

Basically, the allegation is that there may be more shares floating around than actually exist! Wall street has been creating fake shares, and if you bought gme stock you may only have an iou for a stock, not the actual stock. The number of failures to deliver for GME is perplexing, and Michael Burry was wondering why it took 3 weeks to deliver shares when he requested delivery of the ones he owned.

Um, the fact that short interest rose above 100% is neither illegal nor hidden.

Naked short selling is illegal. But the question is who is doing it? The funds? And if so, are the clearing houses and DTC in cahoots? That's gigantic fraud.

Users on WSB showed some whacky sales, where RH showed shares of fractional holdings sold for over $2000. They literally posted the screen shots. Fractional shares don't exist, meaning it is RH shares being sold, and RH accidentally leaked info on how the price of true stock trades. Funds and wall street are using counterfeit shares to artificially drive the price of the stock down, harming retail and other investors.

People are now starting to day that everyone needs to call up and demand physical delivery of the shares so that there can be a true count of the total number of real shares out there. If it ends up being the case that GME is being manipulated with 100-200% more shares than actually exist, it is a huge fraud and a crime that goes high up. WS may be terrified they're getting exposed, which is why they are trying to block retail from buying shares.

Technically naked shorting is illegal but there are loopholes so it still happens. There is no mystery and nobody will go to jail for it. Obviously they never should have left these loopholes open and they certainly should close them now.

[Anonymous]

Anonymous wrote:Frankly, you should have to hold any stock you buy for at least 3 months. Also, when you put in a buy or sell, a random number generator should choose the time when it occurs during the next day.

This would ruin al sorts of HFT firms. They don't hold any stocks for a single day and have no positions when they close. Somewhat agree though. Or just have a transaction tax.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Frankly, you should have to hold any stock you buy for at least 3 months. Also, when you put in a buy or sell, a random number generator should choose the time when it occurs during the next day.

This would ruin al sorts of HFT firms. They don't hold any stocks for a single day and have no positions when they close. Somewhat agree though. Or just have a transaction tax.

Good. What value do they provide beyond enriching themselves by skimming from others?

Is that what our stock market is for?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Frankly, you should have to hold any stock you buy for at least 3 months. Also, when you put in a buy or sell, a random number generator should choose the time when it occurs during the next day.

This would ruin al sorts of HFT firms. They don't hold any stocks for a single day and have no positions when they close. Somewhat agree though. Or just have a transaction tax.

Good. What value do they provide beyond enriching themselves by skimming from others?

Is that what our stock market is for?

Yes. They provide liquidity. That means whenever someone needs to sell there is a buyer. They make money but provide a real service. Your idea on the random number generator is illegal. It would breach a large number of duties and if you did that it would create yet another place for mischief at the securities firms.

Not a popular opinion here but markets work fine. There are issues from time to time. But most of this nonsense this week comes from people who do not know what they are doing or what they are talking about.

[Anonymous]

Here is a congressional hearing on High Frequency Trading. I am passing this link on without making judgment.

https://www.govinfo.gov/content/pkg/CHRG-113shrg91299/html/CHRG-113shrg91299.htm

[Anonymous]

Pyramid scam, including the "good guys" -- the good guys are holding calls and need the stocks to remain high for several days/weeks/month to cash out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Frankly, you should have to hold any stock you buy for at least 3 months. Also, when you put in a buy or sell, a random number generator should choose the time when it occurs during the next day.

This would ruin al sorts of HFT firms. They don't hold any stocks for a single day and have no positions when they close. Somewhat agree though. Or just have a transaction tax.

Good. What value do they provide beyond enriching themselves by skimming from others?

Is that what our stock market is for?

Yes. They provide liquidity. That means whenever someone needs to sell there is a buyer. They make money but provide a real service. Your idea on the random number generator is illegal. It would breach a large number of duties and if you did that it would create yet another place for mischief at the securities firms.

Not a popular opinion here but markets work fine. There are issues from time to time. But most of this nonsense this week comes from people who do not know what they are doing or what they are talking about.

How can you say they work fine when Tesla is so over valued? when the stock market didn't go down during COVID? I trust Elizabeth Warren, and she says it is not fine.

[Anonymous]

Anonymous wrote:Here is a congressional hearing on High Frequency Trading. I am passing this link on without making judgment.

https://www.govinfo.gov/content/pkg/CHRG-113shrg91299/html/CHRG-113shrg91299.htm

okay, this is very dry stuff so I skimmed through for Warren quotes:

Senator Warren. So, if I am following you, Mr. Solomon, you
are saying that they are really adding volatility to the
market, volume to the market, without adding true liquidity to
the market.


Senator Warren. Well, I want to say, thank you very much,
Mr. Chairman, on this. You know, high frequency trading reminds
me a little of the scam in office space. You know, you take
just a little bit of money from every trade in the hope that no
one will complain. But, taking a little bit of money from
zillions of trades adds up to billions of dollars in profits
for these high frequency traders, and billions of dollars in
losses for our retirement funds and our mutual funds and
everybody else in the marketplace.

[Anonymous]

enator Warren sort of talked about a tax. That is sort of
a tax on the system. All the money that the high frequency
crowd is taking out--they are not taking risk overnight, they
are flat every day, they never lose money--all the profits they
are making are coming from someone else. That might be the
longer-term investors, everybody in their 401(k)s, their 529
plans, et cetera.
So, we are very concerned about intraday volatility and
that is why we would like to see some pilot programs to
examine, can we constrain that a little bit? Can we make the
markets a little deeper, a little more transparent to bring
that intraday volatility in, narrow it? We do not have the
answer until we try.