BF2S Forums Investment

Imagine if January ends with a resurgence of Occupy Wall Street after the Capital Hill thing on the 6th. What a month.

I like the new model a lot

1. Take a short position on a stock
2. Let slip you've taken a short position on a stock
3. Market says fuck you
4. Shit your pants

So it nose dived today from 480ish once Robin Hood and others put a hold on it. Robin Hood and others announced they were releasing the blockade on it and the temp block was to make sure that accounts buying on margin had the liquidity to cover it. After hours it is way up which is unusual since after hours it was down yesterday. The retards on /r/WSB (that is what they call each other, retards) are planning to push it hard tomorrow and dump their Friday paychecks into it. I wouldn't be surpirsed if they pull off running it up again.

I don't think BB or AMC is going to catch on. People have been pushing those along so far and it hasn't taken off like GME did. Frankly, I don't expect something like this to happen again. Reddit isn't going to let /r/WSB put together stock manipulation brigades even though there will be plenty of people to try one. I do expect some QAnon/WikiLeaks scam to take off among right wingers.

BB has support people made post about it being undervalued. AMC and NOK were labelled as diversions though AMC said they won't go bankrupt and there was talk about Nokia and 5g contracts or something. Who knows what will happen. All had big bumps then dropped

1.) Rich people: If you don't want to be poor, invest your money
2.) Poor people: Ok, sure
3.) Rich people: Wait, stop.

You tell me who's problem this is.

Sorry, I should be less opaque to actually support a discussion. What I mean to say is you don't get to ask for it, and then when it happens claim that's not what you meant. It doesn't work that way, in sane conversations, anyways.

The only thing that is regrettable is that /u/DeepFuckingValue put up horrible DD to convince less sophisticated investors that GME was viable for the short to medium term. There's a video of his face, and he's the guy who will take the fall for this, even though the DD was publicly posted for conversational purposes, and no different an effort at stock manipulation than the Hedges getting on the news telling people the positions they have shorts on to suggest those companies are failing. It is the same. The playbook got used by a retail investor, and they executed well enough to get critical mass to exploit a float volume issue in shorted low-value high-visibility stocks.

It looks bad, but for real, this is fair play. I stand by that.

Also, in the interest of full disclosure so you know where I'm coming from, I've been an active member of WSB for about 3 years. And for what it's worth, the media's hot takes on the culture there are hilariously inaccurate, willfully or ignorantly. Of course, the owners of those media companies might have something on the line here. I don't know for sure, but I have a guess.

EDIT - I am so tired I posted my response in the wrong thread somehow. Apologies to DF, who I thought had deleted his above post. Turns out I'm just an idiot.

Last edited by Pochsy (2021-01-29 04:02:48)

That is where things were when Robinhood was front-running trades (selling trade instructions to brokers so they can buy at a slightly lower price, often pennies, to squeeze value through huge volume. For reference, this is 40% of RH revenue stream).

We are now at that the point that the brokers are not allowing buy instructions on these stocks, but sell instructions are still fine.

There is already a class action from the RH investors over this. The US congress wants a commission hearing.

We're only starting to wade into what wealth inequality means in the modern world. People are suggesting it's a prisoner's dilemma for the poor where they will turn on each other. These suggestions are misguided, because if you understand the assumptions of the prisoner's dilemma, you know that necessary to the metaphor is the inability of the prisoners to communicate and optimize win-win scenarios. Social media is that communication in our case here. WSB is done, but what are they going to do? Shut down Reddit? Facebook? Instagram? This is that big a problem.

EDIT - If that's not clear, here's a video that explains exactly what happens when the prisoners can talk:

Last edited by Pochsy (2021-01-29 05:00:03)

I only have two shares that I plan to hold onto into the ground unless it crazy spikes which I doubt. I will consider the losses as makeup for a lifetime of political campaign contributions I never made. I just hope in some small way to contribute to market instability, congressional investigations, and other financial services drama.

Still not sure why the US govt hasn't sent a carrier group to ensure the steady flow of X-Boxes at a price the american consumer can reasonably afford.

I'll admit I found a few gems there in years past. Gamestop always forgets to dole out pre-order bonuses, so they decide to sell it like I think best buy does sometimes. Also found new and old consoles there, both hard to find. Though also at Fred Meyer, so whatever.

Senate Minority Leader Mitch McConnell, R-Ky., told reporters the more than $2 trillion plan the White House unveiled Wednesday “is not going to get support from our side.” The proposal would invest in roads, bridges, airports, broadband, water systems, electric vehicles and job training programs, and raise the corporate tax rate to 28% to offset the spending.

The Republican also vowed to oppose the broader Democratic agenda under Biden, who passed his first major initiative this month in the $1.9 trillion coronavirus relief package.

“I’m going to fight them every step of the way, because I think this is the wrong prescription for America,” McConnell said at a news conference in Kentucky.

https://www.cnbc.com/2021/04/01/mcconne … -plan.html

I know Republicans don't really have to worry about upsetting voters because they will get votes anyway but it will be interesting to see how they manage to convince people that keeping the corporate tax rate low is more important than blue collar construction jobs. Maybe they will tell people the roads are gay.

Re: 1 week ago, ironic how Republicans who are big talk about infrastructure improvements, hesitate to put viable plans into action because it would "tax corporations," who would also benefit from better infrastructure.

Could also tell them it would provide jobs for their blue collar, working class voters, but those are already in the bag so why should they care.