Heimdallr Posted February 2, 2021 Share Posted February 2, 2021 8 minutes ago, winitall said: Why doesn’t share price matter? There are still more shares shorted than actually exist. It doesn't matter what the price is if there aren't enough shares available to buy. Eventually they have to cover, and if people are holding and not selling, you get a situation where anyone with a share can demand whatever price they want, because that is all that is available and the shorts are FORCED to buy at any price. Or maybe not, I'm just a moron 1 Quote Link to comment Share on other sites More sharing options...
Johnny Nix Posted February 2, 2021 Share Posted February 2, 2021 3 minutes ago, mattyice0401 said: GME still an option or is it something people should stay away from now? I personally am staying away from GME 1 Quote Link to comment Share on other sites More sharing options...
Sad People Posted February 2, 2021 Share Posted February 2, 2021 1 minute ago, Johnny Nix said: I personally am staying away from GME I was too but it seems like a decent buy in time and people still think it could run up from what I’ve read. Not entirely sure how all this works still. Quote Link to comment Share on other sites More sharing options...
Heimdallr Posted February 2, 2021 Share Posted February 2, 2021 Don't put anything into GME that you aren't prepared to lose 80% of. Eventually it will go down to $20-$40 again. It is also possible it gains 1000% in the short term. 4 Quote Link to comment Share on other sites More sharing options...
Sad People Posted February 2, 2021 Share Posted February 2, 2021 Maybe if it dips back down To around $80 per I might jump in a little bit and see what happens. Quote Link to comment Share on other sites More sharing options...
winitall Posted February 2, 2021 Share Posted February 2, 2021 20 minutes ago, Heimdallr said: There are still more shares shorted than actually exist. It doesn't matter what the price is if there aren't enough shares available to buy. Eventually they have to cover, and if people are holding and not selling, you get a situation where anyone with a share can demand whatever price they want, because that is all that is available and the shorts are FORCED to buy at any price. Or maybe not, I'm just a moron They don’t have to cover though all at once. There is no end date for them. Besides having the margin tied up and paying 2% roughly to the brokers in interest, it isn’t costing them anything really. So if the share owners try and price gouge them, they can just wait it out. The brokers can always call the shares whenever they want, but that isn’t going to happen. Quote Link to comment Share on other sites More sharing options...
El Ramster Posted February 2, 2021 Share Posted February 2, 2021 35 minutes ago, MWil23 said: Mine's different from a 401K, as it's a secondary fund and "catch all" for a backup retirement, future wedding/college fund(s) for my kids, etc. It's hard to complain after November/December being up 25% alone in those two months. I'll take my 7% in January on top of my other retirement portfolio. No I know you’re good. I’m speaking on behalf of my sister. There’s no way she should have seen 13% returns for the year... 1 Quote Link to comment Share on other sites More sharing options...
El Ramster Posted February 2, 2021 Share Posted February 2, 2021 RH really killed the momentum. Cuban was doing a ama. Wonderful read. Careful there’s some foul language if you aren’t into bar talk. RH shutting buyers out really scared the folks. They simply weren’t ready to handle/pay the insane amount of cash. What broker holds the most $$€€€ so this won’t happen again. He’s encouraging the little guys to do the same thing but with a bigger broker. 3 Quote Link to comment Share on other sites More sharing options...
Shockwave Posted February 2, 2021 Share Posted February 2, 2021 37 minutes ago, Johnny Nix said: I personally am staying away from GME Day trades with strict stop losses in place for me with GME 1 Quote Link to comment Share on other sites More sharing options...
iknowcool Posted February 2, 2021 Share Posted February 2, 2021 30 minutes ago, Heimdallr said: Don't put anything into GME that you aren't prepared to lose 80% of. Eventually it will go down to $20-$40 again. It is also possible it gains 1000% in the short term. Yep. Went ahead and sold some to guarantee I broke even at the very least. Gonna hold onto the rest and see what happens. My avg cost is still $43 so I'm not in a huge hurry. I feel bad for the people who bought over $300, but that was always going to be a huge risk. Definitely don't put any money into it if you can't afford to lose it too. 2 Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted February 2, 2021 Share Posted February 2, 2021 8 minutes ago, El Ramster said: RH really killed the momentum. Cuban was doing a ama. Wonderful read. Careful there’s some foul language if you aren’t into bar talk. RH shutting buyers out really scared the folks. They simply weren’t ready to handle/pay the insane amount of cash. What broker holds the most $$€€€ so this won’t happen again. He’s encouraging the little guys to do the same thing but with a bigger broker. They killed it almost instantly and it gave the market time to react and respond. Absolutely crappy set of circumstances. 2 Quote Link to comment Share on other sites More sharing options...
El Ramster Posted February 2, 2021 Share Posted February 2, 2021 Bought more shares of Cleanspark energy today... I really think it hits 60-80 in 5-7 months specially with crypto. Quote Link to comment Share on other sites More sharing options...
bcb1213 Posted February 2, 2021 Share Posted February 2, 2021 (edited) Thinking about getting into arry today Watching aptx Deep watching Simon, spg. Probably won't jump into that one til closer to summer. Their balance sheet is amazingly clean despite the pandemic tho. If it gets below 60 I'll probably take a leap of faith Anybody have thoughts on these three? Edited February 2, 2021 by bcb1213 Quote Link to comment Share on other sites More sharing options...
evilflamingo Posted February 2, 2021 Share Posted February 2, 2021 (edited) Disappointing that GME was most likely ruined on that Thursday manipulation. Sold part of my stake Yesterday when I came to terms with this becoming a drawn-out play and I didn’t want to obsess and have this much cash tied up for that long. Dropped 100 shares at $250 to ensure a +150% play even if the rest goes to zero. Will keep the rest as it is and just let things have it’s course. Maybe we get a (smaller) squeeze sometime in the future, maybe Cohen gets appointed CEO in June and turns it around, I’m fine with whatever. It’s by far been my most interesting play on the stock market! Edited February 2, 2021 by evilflamingo 2 Quote Link to comment Share on other sites More sharing options...
pheltzbahr Posted February 2, 2021 Share Posted February 2, 2021 Buy dips, sell rips...repeat. Quote Link to comment Share on other sites More sharing options...
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