Reddit and 4chan going after the most shorted stocks and trying to blow them up. AMC, Blackberry, Bed Bath and Beyond, and more. Expect massive sell off Friday when the shorts need to be paid for.
short covering forces the holders to BUY the stock at market price. This is upward price pressure.
Market down almost 500 but reddit stocks making huge gains.....
Reddit and 4chan going after the most shorted stocks and trying to blow them up. AMC, Blackberry, Bed Bath and Beyond, and more. Expect massive sell off Friday when the shorts need to be paid for.
short covering forces the holders to BUY the stock at market price. This is upward price pressure.
Yeah that's what their doing. They are trying to raise the price of the stock so when they are forced to buy back they bankrupt these hedge funds. At least that is what I read.
Reddit and 4chan going after the most shorted stocks and trying to blow them up. AMC, Blackberry, Bed Bath and Beyond, and more. Expect massive sell off Friday when the shorts need to be paid for.
So when the pandemic hit, we saw Robinhood app holders shooting way up. You've got no sports to bet on, you've got gamblers flocking into the markets. They've got enough people/money now where they can move things. Early on, a lot of people were skeptical that these retail buyers could really make a dent.
Hmmm.
Quote:
Now, analysts are casting a wary eye toward the stocks that could be next. The list of potential targets includes Vir Biotechnology Inc. and SunPower Corp. which have short-interest levels above 30% of their floating shares, according to S3 data. Meanwhile, D.A. Davidson analysts wrote Wednesday that companies such as Fastly Inc. and J2 Global Inc. could come into the crosshairs, given their high levels of short interest.
Shares of Vir surged as much as 82% to hit an all-time high of $141 on Wednesday, while Fastly and J2 Global were higher as well. SunPower was the laggard, with prices dropping about 3%.
The rally in those stocks has dealt blow after blow to short-sellers. A Goldman Sachs Group Inc. basket of the most heavily shorted stocks has surged over 50% in January for it biggest monthly gain since at least 2008, or as far back as data for the index goes.
The hunt for heavily shorted stocks is being led by the Reddit forum WallStreetBets, which boasts roughly 2.8 million members. Users there have mobilized on the likes of GameStop, BlackBerry Ltd. and AMC Entertainment Holdings Inc., while delighting in Melvin Capital’s capitulation.
The short-squeeze strategy has also engulfed the options market, where the smallest of traders -- those who buy or sell 10 or fewer contracts at a time -- have bought a record amount of bullish calls. That’s theorized to have created a bullish feedback loop of sorts, as the dealers selling the call contracts buy the underlying stock as a hedge.
Amid the frenzy, Internet searches for “short squeeze” have spiked, according to Google Trends. On a scale from 1 to 100 -- with a value of 100 indicating peak popularity for the search -- the gauge now sits at 100.
“They’re not looking at anything fundamental at all,” said Matt Maley, chief market strategist at Miller Tabak + Co. “They’re just buying the most-shorted names.”
Joined: 02 May 2005 Posts: 90307 Location: Formerly Known As 24
Posted: Wed Jan 27, 2021 1:16 pm Post subject:
LakesGnrLake wrote:
audioaxes wrote:
LakesGnrLake wrote:
Reddit and 4chan going after the most shorted stocks and trying to blow them up. AMC, Blackberry, Bed Bath and Beyond, and more. Expect massive sell off Friday when the shorts need to be paid for.
short covering forces the holders to BUY the stock at market price. This is upward price pressure.
Yeah that's what their doing. They are trying to raise the price of the stock so when they are forced to buy back they bankrupt these hedge funds. At least that is what I read.
They are t trying to bankrupt them so much as profit off them. _________________ “We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Joined: 15 Sep 2012 Posts: 29337 Location: La La Land
Posted: Wed Jan 27, 2021 1:23 pm Post subject:
I'm still holding my GME calls. I almost bailed today, glad I didn't. Best trade of my life so far. _________________ "Every hurt is a lesson, and every lesson makes you better”
Joined: 10 Apr 2001 Posts: 65135 Location: Orange County, CA
Posted: Wed Jan 27, 2021 2:20 pm Post subject:
kikanga wrote:
I'm still holding my GME calls. I almost bailed today, glad I didn't. Best trade of my life so far.
Congrats on the success!
I deployed some capital today and should have waited on the Fed meeting. Didn't think VIX would touch 40. Basically across the board, the companies I track all hit buying zones. _________________ Resident Car Nut.
Is it still a buy right now after already being up 43%?
I sold near the peak and bought back in at 40%. But rolling in house money now and prepared for it to dip some more. A bunch of people I follow are warning extreme caution at this point (not just GME/AMC but any long position on the market) _________________ (bleep) Kawhi
after hours is not looking good, so glad I cashed out most of my positions across the board. Remember pigs get slaughtered _________________ (bleep) Kawhi
Joined: 15 Sep 2012 Posts: 29337 Location: La La Land
Posted: Wed Jan 27, 2021 5:34 pm Post subject:
audioaxes wrote:
after hours is not looking good, so glad I cashed out most of my positions across the board. Remember pigs get slaughtered
I took a nap. And missed the whole freakout. I'm still way into the green. Albeit not as much as I was at close. _________________ "Every hurt is a lesson, and every lesson makes you better”
Joined: 24 Dec 2007 Posts: 35854 Location: Santa Clarita, CA (Hell) ->>>>>Ithaca, NY -≥≥≥≥≥Berkeley, CA
Posted: Wed Jan 27, 2021 5:45 pm Post subject:
audioaxes wrote:
after hours is not looking good, so glad I cashed out most of my positions across the board. Remember pigs get slaughtered
Kicking myself for not buying Gamestock at 86. Same with Nokia today. Risk of ruin seemed to outweigh the upside. Now I feel dumb.
My general point is right, though— Gamestock has to collapse eventually. I guess the tricky part is determining when and hindsight is 20/20. _________________ Damian Lillard shatters Dwight Coward's championship dreams:
after hours is not looking good, so glad I cashed out most of my positions across the board. Remember pigs get slaughtered
Kicking myself for not buying Gamestock at 86. Same with Nokia today. Risk of ruin seemed to outweigh the upside. Now I feel dumb.
My general point is right, though— Gamestock has to collapse eventually. I guess the tricky part is determining when and hindsight is 20/20.
People have cashed out as expected. The fundamentals aren't there. For those lucky few that had the stock before it became a darling of reddit, congrats, you made some big bucks.
Joined: 15 Nov 2006 Posts: 19865 Location: Prarie & Manchester, high above the western sideline
Posted: Wed Jan 27, 2021 6:00 pm Post subject:
lakersken80 wrote:
CandyCanes wrote:
audioaxes wrote:
after hours is not looking good, so glad I cashed out most of my positions across the board. Remember pigs get slaughtered
Kicking myself for not buying Gamestock at 86. Same with Nokia today. Risk of ruin seemed to outweigh the upside. Now I feel dumb.
My general point is right, though— Gamestock has to collapse eventually. I guess the tricky part is determining when and hindsight is 20/20.
People have cashed out as expected. The fundamentals aren't there. For those lucky few that had the stock before it became a darling of reddit, congrats, you made some big bucks.
The market scares the crap out of me which is why I don't mess around with anything other than index funds. Real estate is where I feel safest...it's literally concrete. GameStop is the first individual I've ever bought. A friend kept saying it would be fun so we signed up on Robinhood and went in for a thousand shares each last week. Now I don't know what to do. _________________ http://chickhearn.ytmnd.com/
Joined: 24 Dec 2007 Posts: 35854 Location: Santa Clarita, CA (Hell) ->>>>>Ithaca, NY -≥≥≥≥≥Berkeley, CA
Posted: Wed Jan 27, 2021 6:03 pm Post subject:
C M B wrote:
lakersken80 wrote:
CandyCanes wrote:
audioaxes wrote:
after hours is not looking good, so glad I cashed out most of my positions across the board. Remember pigs get slaughtered
Kicking myself for not buying Gamestock at 86. Same with Nokia today. Risk of ruin seemed to outweigh the upside. Now I feel dumb.
My general point is right, though— Gamestock has to collapse eventually. I guess the tricky part is determining when and hindsight is 20/20.
People have cashed out as expected. The fundamentals aren't there. For those lucky few that had the stock before it became a darling of reddit, congrats, you made some big bucks.
The market scares the crap out of me which is why I don't mess around with anything other than index funds. Real estate is where I feel safest...it's literally concrete. GameStop is the first individual I've ever bought. A friend kept saying it would be fun so we signed up on Robinhood and went in for a thousand shares each last week. Now I don't know what to do.
So you have over 300 k of GameStop stock now?... _________________ Damian Lillard shatters Dwight Coward's championship dreams:
Joined: 15 Nov 2006 Posts: 19865 Location: Prarie & Manchester, high above the western sideline
Posted: Wed Jan 27, 2021 6:16 pm Post subject:
CandyCanes wrote:
C M B wrote:
lakersken80 wrote:
CandyCanes wrote:
audioaxes wrote:
after hours is not looking good, so glad I cashed out most of my positions across the board. Remember pigs get slaughtered
Kicking myself for not buying Gamestock at 86. Same with Nokia today. Risk of ruin seemed to outweigh the upside. Now I feel dumb.
My general point is right, though— Gamestock has to collapse eventually. I guess the tricky part is determining when and hindsight is 20/20.
People have cashed out as expected. The fundamentals aren't there. For those lucky few that had the stock before it became a darling of reddit, congrats, you made some big bucks.
The market scares the crap out of me which is why I don't mess around with anything other than index funds. Real estate is where I feel safest...it's literally concrete. GameStop is the first individual I've ever bought. A friend kept saying it would be fun so we signed up on Robinhood and went in for a thousand shares each last week. Now I don't know what to do.
So you have over 300 k of GameStop stock now?...
No, we dumped on Monday before close because I got really anxious, but it held. We bought a "safer" amount yesterday, thinking it was going to crash today. It's (bleep) invincible. Also bought a little AMC and Ford today, per friend's advice. _________________ http://chickhearn.ytmnd.com/
Joined: 24 Dec 2007 Posts: 35854 Location: Santa Clarita, CA (Hell) ->>>>>Ithaca, NY -≥≥≥≥≥Berkeley, CA
Posted: Wed Jan 27, 2021 6:36 pm Post subject:
C M B wrote:
CandyCanes wrote:
C M B wrote:
lakersken80 wrote:
CandyCanes wrote:
audioaxes wrote:
after hours is not looking good, so glad I cashed out most of my positions across the board. Remember pigs get slaughtered
Kicking myself for not buying Gamestock at 86. Same with Nokia today. Risk of ruin seemed to outweigh the upside. Now I feel dumb.
My general point is right, though— Gamestock has to collapse eventually. I guess the tricky part is determining when and hindsight is 20/20.
People have cashed out as expected. The fundamentals aren't there. For those lucky few that had the stock before it became a darling of reddit, congrats, you made some big bucks.
The market scares the crap out of me which is why I don't mess around with anything other than index funds. Real estate is where I feel safest...it's literally concrete. GameStop is the first individual I've ever bought. A friend kept saying it would be fun so we signed up on Robinhood and went in for a thousand shares each last week. Now I don't know what to do.
So you have over 300 k of GameStop stock now?...
No, we dumped on Monday before close because I got really anxious, but it held. We bought a "safer" amount yesterday, thinking it was going to crash today. It's (bleep) invincible. Also bought a little AMC and Ford today, per friend's advice.
Damn dude... Imagine if you had held those 1,000 shares. I guess if I bought yesterday I probably would have panicked too and sold out as soon as I had a healthy profit. _________________ Damian Lillard shatters Dwight Coward's championship dreams:
Joined: 15 Nov 2006 Posts: 19865 Location: Prarie & Manchester, high above the western sideline
Posted: Wed Jan 27, 2021 6:54 pm Post subject:
CandyCanes wrote:
Also, why Ford? Not a meme stock.
I don't know, I didn't ask. He's in finance and he helps me with my long-term investments, so he's solid.
He also bought some company called Koss that he encouraged me to buy but I declined. I think I'm done playing with this stuff. _________________ http://chickhearn.ytmnd.com/
Joined: 15 Nov 2006 Posts: 19865 Location: Prarie & Manchester, high above the western sideline
Posted: Wed Jan 27, 2021 6:55 pm Post subject:
CandyCanes wrote:
C M B wrote:
CandyCanes wrote:
C M B wrote:
lakersken80 wrote:
CandyCanes wrote:
audioaxes wrote:
after hours is not looking good, so glad I cashed out most of my positions across the board. Remember pigs get slaughtered
Kicking myself for not buying Gamestock at 86. Same with Nokia today. Risk of ruin seemed to outweigh the upside. Now I feel dumb.
My general point is right, though— Gamestock has to collapse eventually. I guess the tricky part is determining when and hindsight is 20/20.
People have cashed out as expected. The fundamentals aren't there. For those lucky few that had the stock before it became a darling of reddit, congrats, you made some big bucks.
The market scares the crap out of me which is why I don't mess around with anything other than index funds. Real estate is where I feel safest...it's literally concrete. GameStop is the first individual I've ever bought. A friend kept saying it would be fun so we signed up on Robinhood and went in for a thousand shares each last week. Now I don't know what to do.
So you have over 300 k of GameStop stock now?...
No, we dumped on Monday before close because I got really anxious, but it held. We bought a "safer" amount yesterday, thinking it was going to crash today. It's (bleep) invincible. Also bought a little AMC and Ford today, per friend's advice.
Damn dude... Imagine if you had held those 1,000 shares. I guess if I bought yesterday I probably would have panicked too and sold out as soon as I had a healthy profit.
Joined: 15 Sep 2012 Posts: 29337 Location: La La Land
Posted: Wed Jan 27, 2021 7:31 pm Post subject:
GME isn't operating on the same playing field as normal stocks sits it is a WSB stocks.
If it weren't for WSB this thing would've tanked already after previous sell offs.
This thing tanked after hours because WSB went private and they couldn't communicate with one another. Short of that happening again, I expect GME to rebound and reach a new high in the near future.
I mean the thing was $39 5 business days ago. Now it is $292. Rebounding from $248 (when WSB went private for an hour).
Just my 2 cents.
I'll probably be out of my calls tomorrow or Friday. _________________ "Every hurt is a lesson, and every lesson makes you better”
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