GME, Hedge Funds, Citadel and Reddit

[Ann]

Well, this is sporty:

 

 

 

[Nouseforaname]

1 minute ago, GG1 said:

 

Methinks someone missed the pun

 

Must be all the HCQ & Zinc i've been popping. Messing up with my head.

[Nouseforaname]

1 minute ago, Ann said:

Well, this is sporty:

 

 

 

 

As much as I disagree with him, he's a legend.

[NCBillsFan]

 

 

[Ann]

I think Robinhood is screwed no matter what they do. This has been fixed, but while it was up:



 

[Ann]

https://twitter.com/WebullGlobal/status/1354828730674372610
 

 

[Ann]

Erm ...
 

 

[Nouseforaname]

2 minutes ago, Ann said:

Erm ...
 

 

 

He looked very coked out this morning.

[Nouseforaname]

2 minutes ago, DC Tom said:

 

Limiting retail "traders" ability.  Which is why it's so damned risky to be a trader through retail platforms - you've got at least one intermediary, and usually several, between you and the market.

 

Note, though, that this doesn't limit institutional trading, which have other means available.

 

Don't like it?  Then buy a seat at the table.

 

Of course idiots like Dave Portnoy and AOC don't understand how market making works.  

 

 

[Ann]

Just now, Meazza said:

 

Of course idiots like Dave Portnoy and AOC don't understand how market making works.  

 

 

You mean stopping trading for individuals so the hedge funds can now short, buy, trade, while only allowing the little people to liquidate (and the liquidate is new... some were forcing them to hold their positions)? 
 

[GG1]

3 minutes ago, DC Tom said:

 

Limiting retail "traders" ability.  Which is why it's so damned risky to be a trader through retail platforms - you've got at least one intermediary, and usually several, between you and the market.

 

Note, though, that this doesn't limit institutional trading, which have other means available.

 

Don't like it?  Then buy a seat at the table.

 

That's all correct, but it burns me up when there are cable networks that make their living by advertising platforms that dupe individual investors into thinking they can be on par with institutions.   

[Nouseforaname]

Just now, Ann said:

You mean stopping trading for individuals so the hedge funds can now short, buy, trade, while only allowing the little people to liquidate (and the liquidate is new... some were forcing them to hold their positions)? 
 

 

See tom's answer.  

[GG1]

Just now, Ann said:

You mean stopping trading for individuals so the hedge funds can now short, buy, trade, while only allowing the little people to liquidate (and the liquidate is new... some were forcing them to hold their positions)? 
 

 

No, because Robinhood can't clear the trades without a major market maker given the huge volatility in these stocks.

[IDBillzFan]

14 hours ago, DC Tom said:

 

First part's easy - sell a million shares this week.

 

(Yes, I'm joking.  That'd be a hell of a class-action suit.)

 

Sorry, unrelated, but it just reminded me of the old Steve Martin joke (not that one, another one); "How To Be A Millionaire And Not Pay Taxes."

 

Step one: get a million dollars.

 

[Nouseforaname]

Just now, DC Tom said:

 

They don't understand how markets work, period.  They'd think buying a jar of peanut butter at the grocery store and buying 400,000 units of peanut butter wholesale should be the same damn thing.  

 

I haven't said this in a while, but it's certainly necessary now: things that are different ARE NOT THE SAME.  Thank God AOC's in the House, where her ignorance isn't just mitigated, but expected.  God help us if she ends up in the Senate.

 

Exactly and sorry for my friends here at Billsfans but none of you aside from @GG1 and @DcTom know &#%$ all about the stock market and how this works.

[Ann]

1 minute ago, GG1 said:

 

No, because Robinhood can't clear the trades without a major market maker given the huge volatility in these stocks.

While she mentioned Robinhood, this goes far deeper than Robinhood. Market manipulations for thee, but not for me.  Now sit down peasant.
 

[Ann]

1 minute ago, Meazza said:

 

Exactly and sorry for my friends here at Billsfans but none of you aside from @GG1 and @DcTom know &#%$ all about the stock market and how this works.

M'kay

[Nouseforaname]

Just now, Ann said:

M'kay

 

Great reply.

[Ann]

Just now, Meazza said:

 

Great reply.

Your generality might be a wee bit off. 🙂
 

[GG1]

1 minute ago, Ann said:

While she mentioned Robinhood, this goes far deeper than Robinhood. Market manipulations for thee, but not for me.  Now sit down peasant.
 

 

If anything, Robinhood's actions are saving many retail investors from taking a bath, where they clearly don't understand what they're buying.  If they're doing this as a gag to stiff the short sellers and are throwing a few hundred in the market to prove a point is one thing, but considering over $25 billion traded hands yesterday indicates that it may be more than that, and they are going to get badly burnt.