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Thread: Reddit Trolls Wall St. Hedge Funds, Buying Up GameStop Stock

  1. #211
    Quote Originally Posted by Krugminator2 View Post
    Gamestop is on right at a major inflection point. If it holds below 155 or so think below 100 is in the cards. Wasn't aware of that Congress is talking about this tomorrow. Will be interesting to see if that moves the stock.
    (On GME: based on options chain as of right now, my educated guess of Friday closing price is 160.XX....but the pattern is still holding regarding my March post of closing price always landing where it ultimately keeps the most options worthless)


    Media has been pretty quiet about the hearings for some reason. It's at 12pm ET. Link here, with yt stream embedded: https://financialservices.house.gov/...EventID=407748

    Interestingly, the link includes some bullet points on what appears to be proposed legislation in the works:
    Legislation

    H.R. ____, the "Capital Markets Engagement and Transparency Act of 2021."

    H.R. ____, to amend the Investment Advisers Act of 1940 to limit the exemption provided for family offices from the definition of an investment adviser to those family offices with less than $750,000,000 in assets under management and for other purposes.

    H.R. ____, to require the Securities and Exchange Commission to carry out a study on the impact of the gamification of online trading platforms, and for other purposes.

    H.R. ____, to amend the Securities Act of 1934 to establish certain requirements with respect to retail investor options trading, and for other purposes.

    H.R. ____, to amend the Securities Exchange Act of 1934 to prohibit payment for order flow.

    H.R. ____, to amend the Securities Exchange Act of 1934 to prohibit trading ahead by market makers, and for other purposes.
    Last edited by devil21; 05-06-2021 at 09:08 AM.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book



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  3. #212
    It looks like a long slow descent down might have started today.

  4. #213
    Quote Originally Posted by Krugminator2 View Post
    It looks like a long slow descent down might have started today.
    Judging by overall appearances, that could apply to this whole shebang, not just GME...
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  5. #214
    Quote Originally Posted by Krugminator2 View Post
    It looks like a long slow descent down might have started today.
    Not such a good trade.

    I think if tomorrow closes red then that will start the decline. If not then maybe another month or two before it starts to break down.
    Last edited by Krugminator2; 05-25-2021 at 09:36 PM.

  6. #215
    Quote Originally Posted by Krugminator2 View Post
    Not such a good trade.

    I think if tomorrow closes red then that will start the decline. If not then maybe another month or two before it starts to break down.
    Fwiw, there's still a huge contingent of GME holders who conclude (based on reasonable research) that the big squeeze is still imminent. It is curious how a new set of SHTF rules for clearinghouses took effect today, with much more closely monitored systemic risk activity. Overhauls to index futures options monitoring also, designed to project likely payouts on SPX, for example, in the instance of a major, sudden price move. Those sorts of rule overhauls, in combination, could indicate an anticipated scenario where GME skyrockets in a squeeze but indexes simultaneously crash as liquidations occur to cover GME short margin calls.

    I'm watching to see if the options chain tomorrow shows that the likely friday closing price range will result in a lot of options settling ITM. If so, it could get very, very interesting very quickly.

    (eta: I assume moving the markets over to a blockchain based system is in the cards at some point. Successfully doing that would require flushing the entire system of the millions or, market-wide, billions of fake shares of companies floating around, due to naked shorts and accounting fraud. IMO, the only question is when and how does that happen.)
    Last edited by devil21; 05-27-2021 at 07:22 AM.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  7. #216
    Quote Originally Posted by devil21 View Post
    Fwiw, there's still a huge contingent of GME holders who conclude (based on reasonable research) that the big squeeze is still imminent. It is curious how a new set of SHTF rules for clearinghouses took effect today, with much more closely monitored systemic risk activity. Overhauls to index futures options monitoring also, designed to project likely payouts on SPX, for example, in the instance of a major, sudden price move. Those sorts of rule overhauls, in combination, could indicate an anticipated scenario where GME skyrockets in a squeeze but indexes simultaneously crash as liquidations occur to cover GME short margin calls.

    I'm watching to see if the options chain tomorrow shows that the likely friday closing price range will result in a lot of options settling ITM. If so, it could get very, very interesting very quickly.

    The ideal would be a big gap up a pull back and rally to blow out shorts and then 100 dollar move down in the afternoon.



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