Topic Split: Stock Market Watch
Moderators: NCF, salmar80, BF004, APB, Packfntk
Last edited by wallyuwl on 01 Feb 2021 15:32, edited 1 time in total.
Bought some AG during a dip this afternoon, average $21.61. Missed twenty cents cheaper by about one minute.
Watching a web cast live right now. He is mostly talking about AMC but not exclusively. He is a technical trader it seems. Showed the manipulation of the market via naked shorts on AMC during the last hour of trading today, real time. GME showed the exact same trend, like identical. As of the 29th there were 147 million shorted shares of AMC and those would have increased a ton today. So the shorts doubled down selling paper to each other. Eventually those shorts will come due and this thing is going to explode as long as people hold and don't give the shorts cheap shares to cover. Already a little bounce in after hours.
Watching a web cast live right now. He is mostly talking about AMC but not exclusively. He is a technical trader it seems. Showed the manipulation of the market via naked shorts on AMC during the last hour of trading today, real time. GME showed the exact same trend, like identical. As of the 29th there were 147 million shorted shares of AMC and those would have increased a ton today. So the shorts doubled down selling paper to each other. Eventually those shorts will come due and this thing is going to explode as long as people hold and don't give the shorts cheap shares to cover. Already a little bounce in after hours.
I'll have to take a look tomorrow, but I may have to toss a bit more into AMC. Originally bought at $9.10/share. But maybe I toss another another few bucks if it still around $13-14 tomorrow. What's the talk about where they hope this to spike?
RIP JustJeff
The guy in the video estimated $80 is realistically possible, and up to $109 when the squeeze happens based on the ratio of the first squeeze from $3 to $25 last week.
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BF004
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Also to answer your original question. Not until the HF’s start actually filling their shorts (pun intended). But the interest on keeping them open gets more and more ridiculous on them the more they are out of the money. Every day the price remains at least level is a win as long as all the holders hodl, but once the price actually goes up, that’s when it can balloon as they race to fill their shorts against ever growing interest.
And the days to close is just kind of a ratio between the cost of closing vs the interest to keep open. If it’s like 0.6 like that lot today, just simply makes sense for them to fill their option rather than keeping it open.
So either a higher stock price or a higher interest rate will pressure them to start filling faster. So just holding the line even another day is really gunna be pressuring them on those days with like 2-4 days to close as those days drag on.
I'm not happy. I can't deposit any more money in my account and support hasn't gotten back to me yet. AMC dropping like a rock.
RIP JustJeff
GameStop, too. The fix is in and the big boys are getting their “get out of jail free” card hand delivered.
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Pckfn23
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I have never watched a stock tank in real time...
Since no one can buy, not surprising. Utter &%$@ really.
Since no one can buy, not surprising. Utter &%$@ really.
Palmy - "Very few have the ability to truly excel regardless of system. For many the system is the difference between being just a guy or an NFL starter. Fact is, everyone is talented at this level."
I'm pretty sure I can still buy on Public, but still waiting on help being able to deposit.
At some point they'll have to re-open and allow people to buy everywhere. If the movement stay strong and holds and continues to buy low, it should spike again. But I think a lot of people are getting scared. Some people seem to be having their positions auto-closed due to a lack of funds.
You are correct. Utter BS.
RIP JustJeff
AMC and GME already on the upswing.
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RIP JustJeff
AMC back up to almost $9. It's low was $6.12 less than an hour ago. And I am going to miss buying! 
RIP JustJeff
Public, it's a mobile only trading app (I think Pckfn mentioned it). Something is up with my account and it won't let me deposit more funds. I can't even view my banking info. It's not that they are stopping or not allowing it, just some glitch in my account or the app. I've reinstalled a few times, made sure everything is updated. Even tried it on a 2nd phone and it still won't work. Waiting for support to get back to me. So far they said it's usually a phone/app version issue. So typical support cop-out answer.
RIP JustJeff
I see that butt-puppet Portnoy sold off his gme and amc for a 700k loss.
RIP JustJeff
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BF004
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Yeah, mad at him for that. Mark Cuban gave a little love to the hold side.
Blackrock is buying like 2.3 million shares, or did, or something, that should help more than anything Portnoy would/could do.
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So what happened today? Did the retail traders sell off or was it manipulation as described in that long quote?