Well I just got off the blackberry ride at $20. Now I can laugh with the rest of y’all while this goes crazy now that I don’t have any stake in it
Poke any bear enough times and watch what happens. People have obviously had enough of sociopaths in Brooks Brothers suspenders manipulating their livelihoods and fucking them over for fun. If it ruins more than a few of these louses, I could not care less.
And the people doing the investing don't care. It's ALL about the shorts manipulating the market and saying "fuck you" to them. The whole CNBC announcement that Melvin is out, etc, was just bullshit... simple math can show you that. The news scared people off and triggered a bit of a sell that they used to partially cover their short position. Apparently Friday is the big day, so we'll see if this still goes. I know I've got my shares limit sell at $418... and I'm going to try and not watch the graphs any more.
Yeah, I bought back into after the morning dip yesterday and sold when it hit $150 again. I wish I had held until this morning, though.
I wish I'd held my original $36, but hey, that's why they call it gambling. Right now it seems that a ton of trading platforms are having problems... from TD Ameritrade, to Robin Hood, to Schwab... all having issues.
Yes both of my trades got rejected this morning. No real reason why. I almost doubled my small investment in AMC for shits and giggles.
Yeah, but all the exchanges at once? And when trading has been nearly fully digitized for well over a decade?
Systems have a limit... and will fail when that limit is reached. I tend to think that with this Global shitshow going on, the volume they are experiencing around GME is well over any previous record, and the system was never designed to handle it. There is no such thing as an infinitely scalable system, especially when you get to something as highly available and fault tolerant as trading. Some people are reading conspiracy theories into it, I'm thinking it's just EVERYONE is looking and trading and it's causing capacity problems.
I get it. If I were to guess, part of the problem (probably) is people are quickly selling and then re-buying with unsettled cash in their accounts, which is not exactly what regular retail accounts are designed for. This creates a volume risk for the brokerages.
Correct, they can't handle the volume. I'll say it again, Tastyworks is the newest platform out there and it runs flawlessly when everyone else is struggling in high volume days. It was built by the guys who started Think Or Swim. They still haven't been able to get approval for Canada yet, and they've been trying since the opened it.
My trading platform also crashed and then cancelled my buy orders earlier which is annoying. I'm not too invested in GME, but decided to buy some for the lolz (or whatever it's called nowadays)