One more example: When I first bought a couple days ago, I paid a $6 premium over spot. Two days later, silver has just supposedly lost close to 10% of it's value and the premium is now $13 over spot...on a pre-order. That doesn't appear to be something that's losing value, it's actually gaining in value but someone or something is manipulating it.
Mark Cuban is doing an AMA on GME: https://www.reddit.com/r/wallstreet..._everyone_its_mark_cuban_jumping_on_to_do_an/ And it's at $85... this is the week to see who's got the balls to ride it out, I think.
I wouldn't be surprised if it goes down to $50. But I also think that it will come back, and that's when the real squeeze is on.
I get how GME was supposed to collapse as a return to "normal". But the volume and the freefall still looks like some fuckery is going on. It seems like the data indicating the capacity for a short squeeze won't get updated until next week, and the WSB subreddit is crawling with bots and bullshit. Right now, I have 8 shares of GME and I'm down around $1200. I'm looking at that as my gains from RH over the past few months anyway, so I'm still net positive for the last year. There is so much fuckery and manipulation going on right now, it's shocking. I think this will for sure reverberate in the market and regulation for a few months, especially as some "crybaby" stories emerge from retail investors who had accounts fucked with/suspended. Robin Hood is probably bankrupt within a year or two, out of sheer protest, not to mention the legal shit show they find themselves in.
I like that when a stock appreciates too quickly, trading is halted and people need to take a breather. When it goes into freefall...................*shrugs shoulders* Sucks to suck.
This is where I’m fuzzy on wsb’s endgame with this. Holding it until it settles on a realistic price means a whole bunch of them bought in way too high, to shove it to the man, and will lose a good portion of their investment no? I guess exposing shorts was worth the loses they take? Have a feeling the billionaires will still come out being billionaires without much punishment to show for it. The plebes wasted their stimmies.
I've picked my "out" number, and it's basically doubling up my recent investment. As much as watching the hedge funds get slammed is entertaining, watching the WSB bloodbath as people figure out their exit strategies is going to be just as entertaining. To quote DFV: "what's an exit strategy?"
I truly wonder if holding for holdings sake occurred to them as an eventual losing bet? Some of the future “I lost everything” stories should serve as a warning. It’s funny watching a collective fight against the man, but it won’t be funny to some of these people if they feel duped somehow.
I can’t see how it wouldn’t jump back up, seeing as how it’s now cheap enough to get the true late-to-the-party noobs involved. EDIT: No, I haven’t bought in. I’m even n00bier than that.
I ordered another 20 ounces of silver at $31 today. Gotta bring that average of $38 down a bit... The folks that hold physical silver are an interesting bunch that I never knew existed. They call themselves "Stackers" and many of them remind me of Golem...a lot of them are actually cheering that silver is going back down (So they can get more of their precious.) Some state they won't sell even if it hits $200, they just really, really like silver. Sort of like me and my baseball cards, except I know when to bail out of my cards. Sort of... Which brings me to this: A couple days ago I completed my 1961 Topps set. I spent a lot of time upgrading cards due to a bumped corner or centering issues, so it is a high end set. One card bothered me though, it just wasn't up to snuff with the other cards....the main Mickey Mantle card. I have a PSA 4 (Very good-Excellent) with centering issues. I bit the bullet and bought a dead centered PSA 6. For $700. Oh well, it upped the value of my entire set and my PSA 4 will be off to the auction house soon, so I'll recoup most of it quickly. The new high end Mantle:
Barring a breakdown of our economic system, that card will sell for around $1200 in a year. If the economy tanks, well....I'm sitting on quite a bit of silver now. And ammo. And guns. Is that what they mean when they say to diversify your investments?
I wonder if there will be a hardcore crash in the baseball card market when the generation that gives a shit about who Mickey Mantle was dies.
It didn't crash Ruth, Cobb, or Wagner. At some point the market will crash, just like happened with stamps. However, I think a few major stars will weather the storm....Mantle will be one of them.
Hmmm... GameStop just made a couple of monster hires: https://news.gamestop.com/news-rele...ls/gamestop-appoints-chief-technology-officer I wonder what their stock packages were like?
Now, am I just missing something, but I find this hilarious... in their new announcements, they describe GameStop as a Fortune 500 company. Would they be that without the recent stock shit going on? Seems to me they're making the absolute most of the situation while it lasts.