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936horn

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Posts posted by 936horn

  1. 4 minutes ago, DonkeyCigars said:

    Kinda both.

    Not really. People saw a fundamental disconnect with a stock that was overshorted to hell, had a new board member in the form of the dude who launched Chewy.com, had more cash than debt, still had large inroads with major gaming companies (sony, ms, nintendo) and decided they could take advantage. The shorts could have unwound $250 ago and taken the L. Instead they dug in and are rightfully going to get absolutely donkey dicked on this one. It maybe started with a couple dudes meming but I guarantee the larger % of people (and other funds now) that are in, saw the opp, smelt the blood in the water, and went for the kill.

     

    ps - the GME dude on reddit is up to 48mm now.

    https://www.reddit.com/r/wallstreetbets/comments/l6ekdz/gme_yolo_update_jan_27_2021_guess_i_need_102/

    • Hook 'Em 3
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  2. 2 minutes ago, 52-80 said:

    shorting stock is not illegal

    shorting stock is healthy.  risky, but healthy.

    naked short selling is what got them here (shorting sales not confirmed to be borrow).  it IS illegal, but apparently is very ill-enforced

    That's exactly my point. Sorry if we don't feel bad for some hedge funders who are levered to the tits on a short that is at 140% of the available float as of last week. 

    Like pops always said, pigs get fat but hogs get slaughtered.

    • Hook 'Em 2
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  3. 5 minutes ago, Cheeseweasel said:

    We'll see. I'm not confident that they won't step in and protect their Wall Street Buddies.

    While I agree, what a terrible look that'd be for your 10th day as president after running a "for the people" campaign. Political suicide.

    • Hook 'Em 1
  4. 3 hours ago, Wally Fairway said:

    CNBC talking heads this morning days Melvin Capital is retiring they are out of GME 

    No idea of true or PR, but GME drops on that report

     

     

    Yeah premarket when GME was at $340. Uh huh, sure

  5. There’s absolutely institutional money pouring into GME now. Each halt today ticked down afterward and was quickly rejected. The sheer volume was nuts. There’s definitely some other funds jumping in just to take out some competition. 
     

    edit - just a bit slow. Agree w Trey. 

  6. Wednesday could be the day but I'd be very careful shorting GME (duh). Cramer just talked about it and referenced r/wallstreetbets who seem to be all in on buying up available shares. He did a 5 minute segment on how a short squeeze works and all that. Enough boomers probably watch Cramer to potentially cause even more share buying tomorrow to get in on the action and further face fuck the shorts when there aren't enough shares to go around and positions start getting closed out. I believe short interest gets reported tomorrow, I am fascinated to see how it has changed since Dec 31.

    On a related note, BBBY looks to be seeing some similar action, though their short interest is something like 70%, not the 140% or whatever GME was.

    I took a flier on some weekly GME calls that went ITM after hours today. My only regret is not being such a pussy and buying more but in my defense this followed a +60% day yesterday.

  7. 1 hour ago, Trey3216 said:

    I ended up making a quick 25% on some weekly 30 strike puts yesterday afternoon.  Closed it out and see what can be done today. 

    Looks like a good move right now, another gap up this morning. Insanity. Puts looking very tempting today

  8. 14 hours ago, Trey3216 said:

    Was trying to get a wire into my trading account so I could buy some puts on it while it was still moving up.  Now I'm pissed that the wire hasn't gone through yet.  

    I wouldn’t be too sad yet. Melvin capital has 5.4mm shares worth of 15p expiring Friday per their last 13F. Maybe they covered it all today but the short float as of Dec 31 was something like 100%. I won’t be surprised if the squeeze isn’t over and more short positions get their faces ripped off tomorrow 

    my only regret was being too big a pussy to buy options and sticking to shares on this one

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