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posted ago by Trashaccount121 ago by Trashaccount121 +1092 / -0

So let me begin by saying this: I am in on the GME squeeze, yes. I have been in since early December. I have made 5 figures so far on an initial buy-in under 10k, will soon be 6 figures, and... we'll see. I am (legally required to mention that I am) not a financial adviser, and nothing I say here should be construed as advice nor direction. This is simply data for you to understand what's going on technically for the stock market action, and the larger implications.

So, we'll begin with a definition of short selling. Short selling (shorting) is the borrowing of shares from a broker, with the promise that you will pay back in-kind (with as many shares as you borrowed), and if you don't pay back within a certain timeframe you begin paying interest on it. Shares are lent from brokers (to use a very simple example, Robin Hood, yes, the app). Only big money hedge funds and financial institutions are allowed to short, it's financial shit.

Anywho, if you're quick on the draw you'll understand the implications. Shorting is for when you believe* a stock is going down. If you borrow a share from a broker that's trading for... 10 bucks and short sell it, you pocket 10 bucks then and there. You then stand to gain as much as you buy it back for after the price goes down. If, for example, you buy the share back when the price has dropped to 5, you turn in that share back to your lender and now have netted 5 bucks. The maximum gain for this example is 10 bucks, i.e. the company bankrupts and their shares are worthless. I say "believe" with an asterisk, because there's a caveat. We'll come back to that.

On the flipside, shorting has what's called an "infinite downside". This is because, if you hold till the bitter end (which most shorts won't), the price of the stock could theoretically go to infinitely-high levels. So if you short that 10 dollar stock, and it climbs to... 15 bucks by the time you're margin called and asked to return the share, you MUST buy back the share at 15 bucks, market value, or else pay an interest value based on the stock's current value to the lender.

Stay with me, we're going balls-deep into market shit here. I promise I'll keep it simple.

So, shorters (such as the oft-mentioned Melvin Capital) tend to have HUGE pools of liquidity. They can afford to take an interest hit if they think they can hold through the upward trend of the stock (past their initial short position) till the point where it goes back under and they can buy back, or "cover", that share at a profit, or at least a break-even point.

Here's where that caveat comes in that I mentioned, and point 1 of my thread: The trick is, all these hedge fund cats have a huge fucking network of contacts in the MSM and politics, and will utilize them, either when they first short or when they're in trouble, to run hit pieces on the company they shorted, explaining why the price it's at is WAAAY too high! They may or may not (illegally) also do shit like do a massive sell-off, or get someone else with large pools of money to burn (known as whales) to do so. This normally scares off normie investors, who will see the downward trend and sell at whatever they can to mitigate losses.

So, the shorts basically are pocketing the losses from Joe Blow the novice trader, and... well, in my opinion, creating NOTHING of value. Their money literally comes from scaring people and creating pessimism. Fuck that. Moving on.

In particular regards to Gamestop, we need to set the scene for what's going on with the company. Like most brick-and-mortar places, the Kung Flu hit them hard, and they took a tumble down to single-digit stock values. Shorts saw this and, knowing GME was just another strip mall retailer, figured their time was coming and they were gonna be bankrupting before too long. So they shorted it at, oh, 20 as it was going down during the beginning of the Coof.

But then, they got greedy. I won't get into the technicals here, because it would require an entire fucking new thread to explain, but they did something called "naked shorting" to short more shares than actually exist. They leveraged shares held in call options (again, not gonna explain it, look elsewhere), basically promising to lenders "hey, I know you don't ACTUALLY have this stock and if the option holder exercises they'll need 100 shares, but I promise I'm good for it!" So they got MORE shares, these ones being "implied", and shorted AGAIN on those, say at 15. Then GME STILL kept dropping. Cool, make every fucking cent they can. Short some more. Etc. etc.

Okay, so that's fine and well, they shorted literally more stocks than GME even had available for trade, but (biiiig but) if GME went bankrupt, as they earnestly believed, it wouldn't fucking matter, because they wouldn't have to pay back shares if the company no longer existed.

Enter Player 1: Michael Burry (of Big Short fame.)

Burry saw what was going on, and he's been on the winning side of short positions before. Now, there's something to be said for shorts against scum like Enron. Short sellers DO provide a value in driving down the value of companies that don't deserve their money. I won't argue that. Problem is, looking at GME's finances, they were NOT on the track to bankruptcy. They were hurting, sure, everyone hit by the WuFlu was, but they were far from filing Chapter 11.

So Burry bought shares (or call options, can't remember which), a sizable enough amount that it kept the stock from hitting the ground. Now, this already fucked with the shorts, because remember, they were now all-in on GME bankrupting. They would never admit as much, since naked shorting is illegal and all, but yeah, they were. But by chugging along, even if barely on a lifeline, GME's survival was... troublesome to say the least.

Enter Player 2: Ryan Cohen (of Chewy fame.)

You may or may not have heard of Chewy. Depends on if you have a pet or not. But short version is, they're an online pet supply company that Cohen ran really fucking well, selling them to Petsmart for... 2 and a half bil, I think it was? Anyways, he made the company work on the e-commerce platform. And... he joins GME. GME, mind you, is of course traditionally a brick-and-mortar physical retailer, but consider the sentiment caused by an e-commerce guru deciding to roll the dice on GME. Was he gonna fix them? Completely dominate the online video game retail market? Maybe, maybe not, that's not super relevant. The main and important point is, the POSSIBILITY that he COULD made GME look good again.

Their stock price starts going up. Uh-oh for the shorts.

Enter Player 3: Q32020 Earnings and New Console Cycle

Okay, so what just happened in the video game world? PS5 and whatever the fuck the new Xbox, Series X Mark 2 Mod 5 or whatever, is called came out. Hey, hate them all you want, GME provides those consoles that millenials and zoomers want. That ALONE would keep GME solvent for at least a year or so. But their Q3 report came out, and... yeah, they took a hit from the Shanghai Shivers, but they actually didn't do nearly as badly as other companies. Actually did fairly decently. They're closing a bunch of redundant extra locations, and they have decent cash-on-hand keeping them in the green(ish). Worse and worse for the shorts. Some have now left their single-digit stock price short positions, the juice isn't worth the squeeze. But not the biggest fish in the hedge funds. They shorted at 10-20, and GME was still right there at this point in time, last November. They can weather the storm. At least till break-even. No losses in THEIR portfolios!

Enter Player 4: Wall Street Bets, /biz/, StockTwits, and various other retail (individual) trader social media.

Okay, GME is on the uptick, but... I mean, Cohen's good, but he's no miracle worker, right? GME WILL go down! Except some retards on various financial forums (WSB being the largest source), even as early as a fucking YEAR ago, saw the ridiculously high short ratio and saw writing on the wall. I understand there's also apparently a whole sentiment about "muh nostalgia", but that may or may not be the point. Anyways, WSB is already well-known for being a bunch of dumbfuck millennials who yeet six figures into random stocks and options as a fucking joke. They have a LOT of money to burn. But this time... this was no meme. Buying up the shares means the shorts have to buy from them. As a refresher, the shorts MUST buy shares to return, they cannot pay cash-in-kind or whatever the fuck. And if the ONLY people holding shares are a bunch of memeing fucktards... limited supply, extremely high demand.

And so... the short squeeze began. Really began running about when I bought in, right after thanksgiving weekend (after the Q3 report came out and showed they were actually doing just fine, relatively speaking). What you must understand here is, no, there is no "next GME". This is basically it. This is literally documentary-tier history. Hedge funds banked on GME going into the fucking dirt, and the populist left, populist right, and a fuckton of Karen and Steve normies on Robin Hood bought a share or two. And every single share counts. Every single share some rando of RH owns, every 10 thousand shares a WSB whale holds, EVERY SINGLE SHARE is being held by people who leave the shorts with no choice to buy from them. In other words... shareholders dictate the price. We (myself included, as I said) will sell them at whatever fucking price we choose, and they will pay it, even if they must liquidate all of their other assets and bankrupt the hedge funds. We don't fucking care.

Shorts who fuck over scams like Enron are good, fine, they devalue companies that don't deserve it; but not shorts who literally made money off of thing like the scamdemic (as GME was just one example), fucking over other people and taking their money. Dunno why they hit GME in particular as a brick-and-mortar, maybe because of the digital game marketplace being stronger (compare AMC, not nearly as heavily shorted but also a meme stock, I guess it's because the theater experience is kinda its own thing?).

And right now, the MSM, Big Wall Street, all these fuckers, are absolutely LIVID. THEY'VE been gaming the market sentiment for decades, and they got nice fancy econ degrees from ivy leagues and wear suits to work! They DESERVE it! But no, not a bunch of random... NORMAL PEOPLE on web forums and shit! And the fact that they so stubbornly held against the sentiment merely reinforced the will of all of us longs, because we're like "bro, just give up and cover your positions, it's over". Nope, instead they beg for CNBC to run endless hitpieces about how GME isn't worth X. But the thing is, we AREN'T TRADING ON GME'S ACTUAL WORTH. The stock value is being trade ON THE SHORTS' NEED TO COVER.

Basically, they've been making money off of other peoples' losses as long as they've been shorting companies that don't deserve it. And now that they're the ones being bent over, they're whining to the SEC to game the system for them, or the government to change the rules for them. They are facing bankruptcy based on this bet, and the idea that THEY could be so thoroughly fucked over by their lack of risk management terrifies them. They've been worth 7+ figures for years, decades for some of the oldest traders. The idea of losing it all is so horrifying, that they are pulling every dirty trick they can to keep us from winning.

So yes, a bunch of the WSB people are fucking commies. And I don't fucking care right now. We have a common enemy here, the scum that have been sucking value out of working-peoples' pockets for years on end. If they wanna turn around and give it all to some trans rights charity or some shit, I don't care. Our paths diverge when this fight is over. But until then? All the hedge funds can go fuck themselves. They got money from the banks that were bailed out in '08.

We want our fucking money back.

Comments (80)
sorted by:
74
Kokothegorilla 74 points ago +75 / -1

Fuck.yes. great post. This is beautiful. Shorts are getting fucked by day traders - I bet stock twits is on fire right now (my old stomping grounds)

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Trashaccount121 [S] 40 points ago +40 / -0

I like your attitude, but no, not fucking day traders. DTs are slowing down the squeeze because they keep fucking pocketing 5% scalps every 5 fucking seconds.

If they would just hold this shit, the squeeze would already be over by now. Instead, they try to keep profit taking as often as they can for pennies on the dollar, and every time they do that they risk the shares being snatched up not by longs squeezing them but by shorts managing to snatch them up before we can.

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Miracle_on_Ice 47 points ago +47 / -0

Thank you for such a clear and understandable breakdown and timeline of events.

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educatedandfree 42 points ago +42 / -0

As someone who flew her us flag upside down when the 2008 bailouts went through:

THIS IS DELICIOUS. I WANT MOOOOOOOOOORE.

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roadrunner0 39 points ago +39 / -0

A deep enough explanation on how these people generate wealth for themselves out of nothing like the Federal Reserve does using loopholes that for us would be illegal.. Parasites that do not create wealth but steal it legally.. Their buddy network is connected via software so they can illegally coordinate this stuff and max the screw while keeping the dirty deal hidden..

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navycuda 37 points ago +37 / -0

I jumped in today, little over 100 shares.

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FuckGovernment 36 points ago +36 / -0

I don't even believe in shorting. It shouldn't be allowed.

You either buy or sell a stock. Enough with the borrowing shares you don't own to buy back later bullshit. It's made the stock market as FIAT as the currency.

But I'm glad you're making money, PEDE. And enjoyed your write-up. I hope you hose those bastards.

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Trashaccount121 [S] 32 points ago +32 / -0

I'm very much a bull trader myself, in case my sentiment wasn't clear, but I do understand why there's a case to be made in very specific circumstances where the stock ACTUALLY IS worth a fraction of what it's worth, and shorting basically starts the avalanche to run shitty companies into the ground until they either unfuck themselves from whatever they're doing wrong or go insolvent.

But given the choice between having shorts able to make sentiment plays (as anti-GME/anti-brick-and-mortar-american-companies shorts did this past year) in addition to the "white hat" shorts, and not allowing shorting at all? Yeah, I'd err on the side of taking the ability away. Why the fuck would you WILLFULLY bet on people/a company failing? That's just fucked up.

5
HiddenDekuScrub 5 points ago +5 / -0

Nah, your sentiment was pretty clear, IMO.

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RedditIsCommunist 9 points ago +9 / -0

There’d still be put options though....

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Trashaccount121 [S] 20 points ago +20 / -0

The thing is, puts' risk is entirely on the contract holder.

When you short, you're putting the lender at risk, and when you do NAKED shorts, you put the actual legal owners of those stocks at risk (because their shares are being lent out even though their broker says "Yes, you have X amount of Y stock!", but then if the shareholder tries to sell the broker's like "ahhh... you see.... TEEEEECHNICALLY you DON'T have that share after all, we lent it out to [Hedge Fund], sorry, you'll have to wait to sell your position.")

12
RedditIsCommunist 12 points ago +12 / -0

Ok I get it. This kind of stuff should be illegal, along with stuff like selling people gold that you don’t have in the vault while charging a “storage fee” for the storage of “their” gold that isn’t there.

Wish I could find the article on that.... think it might have been on zerohedge.

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deleted 26 points ago +26 / -0
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Trashaccount121 [S] 23 points ago +23 / -0

The irritating thing here is that, as I'm sure you're aware, a LOT of boomers/retirees have their 401ks or IRAs tied up in these hedge funds.

As someone (You, maybe?) said in another thread I saw, they're holding our own money hostage against us (the common people). If we torch the hedges, sure, I and whoever else gets to walk away with bags from the squeeze make out with a profit, but it harms tens, hundreds of thousands, maybe millions, of people whose accounts have value BECAUSE they're built up on the backs of this short selling bullshit.

14
jackdaniels 14 points ago +14 / -0

ELI5 how 401ks or other retiement accounts are affected? Shouldnt those be in mutual funds with low risk and low yield? or is it for those that direct their funds into higher risks?

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HiddenDekuScrub 4 points ago +4 / -0

Sorry, I had a small write up on this but realized I completely rambled off topic.

But in a nutshell, it's usually a combination of both low-risk and high-risk.

2
somercet 2 points ago +2 / -0

No. It's a balance of risk from low to high. Or should be.

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deleted 1 point ago +1 / -0
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J_Von_Random 7 points ago +7 / -0

Kind of reminds you of how the GOP got votes ("you gonna vote Dem?") doesn't it?

3
kmichaels2 3 points ago +3 / -0

Yup, better get out now. It will get bumpy!

3
NvCrone 3 points ago +3 / -0

Rest easy, Pede. Hedge fund/SEC rules don't allow small investors. And most Mutual funds don't either. Pension funds are individual, but I suspect that well run funds aren't in this game.

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Joaniev9 19 points ago +19 / -0

Thanks for explaining this to me... very good write up

15
Maga714dude 15 points ago +15 / -0

This was an excellent post!

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MagaNificent 14 points ago +14 / -0

You and this post are f'ing impressive. Thank you for this explanation.

11
tholins 11 points ago +11 / -0

This was very thorough. Thanks, fren.

10
Judiwont 10 points ago +11 / -1

Interesting thanks for the information

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MadRussian 9 points ago +9 / -0

Fucking poetry, Sir. Well written.

8
Skeeter_N_CO 8 points ago +8 / -0

Thanks for this post. I'm still unclear on how this ends, though. If they are naked shorting and the people who own the stock can't close out their positions, what then? Who gets stuck holding the bag?

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Trashaccount121 [S] 13 points ago +13 / -0

As of the last time I saw the short float, it's (somehow still) at 143% short interest (that is, there are 143% of GME's stock shorted on the market. It's as dumb as it sounds.)

Now, let me be clear here: A LOT of current short interest is actually post-squeeze shorting. There are people who are in positions that are long enough that they shorted GME on its way up -- 50, 100, 200 dollar shorts -- and IF the squeeze completes before their shares are due back, they won't miss out on the interest.

But a sizable chunk, it's hard to tell how much because the data isn't readily available, are OG shorts who've been holding since the beginning a year ago, or one-month shorts or so who shorted in the past couple months and are already paying exorbitant interest rates (borrow interest was at like 60+%!) to hold on for just a couple more days.

It's essentially a massive game of chicken. Every day we hold, they get more and more desperate to cover and close their positions. And let's say 60% of the shorted shares are currently past-due -- THOSE are the shorts we're squeezing. After this is all done and over with, GME will fall to fair valuation, and anyone who managed to pull a naked short as the price climbed might just pull off getting out in the green once the post-squeeze price drop occurs.

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Comntrinchief 5 points ago +5 / -0

60% interest! Dear God!!!

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Trashaccount121 [S] 11 points ago +11 / -0

Melvin Capital had lost 30% of their net worth by Monday (when they got their bailout from their sugar daddies at Citadel).

30%... since January 1st.

Someone did the math on WSB, for every... it was like 40? Bucks that GME went up, it cost them another 8 figures (can't remember exactly how much) per day to hold their short positions. That is, every 40 dollars GME increased, their interest cost increased by something in the 10s of millions, I can't remember any more specifically than that. But even if it were 10,000,000 exactly, that means that as of right now (the post was last week when GME was still at 40), they're now paying... 50? 60? Million dollars per day just to keep their short positions open. At least. I wanna say it was actually something like 40 mil, not 10 mil, and if that's the case they are losing 200 million fucking dollars a day.

3
aaafirefly123 3 points ago +3 / -0

HAHAHAHAHA!

LET EM' BURN!

TAKE THEIR SHIRTS AND THROW THEM OUT INTO THE STREETS!

3
Comntrinchief 3 points ago +3 / -0

Glorious!

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Darth_Venath 8 points ago +8 / -0

Communists and capitalists vs the rich and elite

8
jackdaniels 8 points ago +8 / -0

2021 is shaping up quite... differnetly!!

7
TexasPride 7 points ago +7 / -0

Incredible post pede. Would love to learn more about stocks now. Only investments I've made are in real estate and gold

7
peruvianhat 7 points ago +7 / -0

Great post, very informative.

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deleted 6 points ago +6 / -0
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dixond 6 points ago +6 / -0

DEUS FUCKING VULT

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RedditIsCommunist 6 points ago +6 / -0

This is a new one that isn’t on Gene Sharp’s list https://www.aeinstein.org/nonviolentaction/198-methods-of-nonviolent-action/ But it’s not a complete list, really. Needs some updating!

Just wait until Congress starts talking about this. This will expose even more of what goes on.

5
Alias117 5 points ago +5 / -0

Nice info here since i had no clue what all of this was about so basically they are doing the FED scheme with shorting stock, making more stock then they can actually cover like not enough actual worth (gold reserves) to cover the money they keep printing because no true oversight as to their business.

7
Trashaccount121 [S] 7 points ago +7 / -0

Kind of. That's more on the naked shorting, specifically, but they WILL be forced to cover those positions back to the lenders (the brokerages that lent them the shares in the first place). I guess theoretically there may be a doomsday scenario where they use some obscure rule or clause written in the trading rules somewhere to get out unscathed, or for a Rapture-tier event, they end up getting bailed out federally (specifically, it would be the banks that gave them capital in the first place).

But in general, it's not quite the same, because most of the shorting is done against the value of shares that ARE real. Put another way, I use RH because I'm a scrub, months ago RH lent Melvin Capital [the number of shares I have]. Melvin Capital owes those shares back to RH. They HAVE to give those shares, not cash-in-kind but shares, back to RH. So their ONLY CHOICE is to buy the shares from me, the shareholder, to then turn around and give them right back to the broker from whom I bought them in the first place.

The naked shorts were pretty much all either already closed, or are shorted against post-squeeze prices. And honestly speaking, anyone who shorts GME for... 2 or 3 weeks or so... out, will probably be able to make money as the price crashes down to fair value for GME's stock

5
GiveMe1776 5 points ago +5 / -0

Praying for people like you to give these greedy hedge fucks what they deserve. Good on ya!

5
Comntrinchief 5 points ago +5 / -0

Thanks for this. Don’t need to read any misleadia article about it now. This is gold! Gold I tell you!

5
BidenTaintMyPrez 5 points ago +5 / -0

Epic. Post.

I read the whole damn thing. This is the best explanation for a normie like me to read.

"we AREN'T TRADING ON GME'S ACTUAL WORTH. The stock value is being trade ON THE SHORTS' NEED TO COVER." -This is epic. I would take this to mean that there's really no way out if the normies decide to just hold onto the stocks indefinitely. Amazing. HOLD THE LINE!

Great job, fuck those bloodsuckers!

3
Trashaccount121 [S] 3 points ago +3 / -0

They literally are at our mercy. This is why "1000 per share is not a meme" is a meme growing amidst us longs, albeit a very true meme.

They're backed against a wall. Now, something fucking absurd like 50k per share won't happen, because no matter how much they're bleeding in interest, there's no way it'll hurt them more than buying something that overpriced.

4
Jojotherab 4 points ago +4 / -0

Amazing post. How does an average joe like me learn this and also learn to make money? I made $0 on this Gamestop thing and would like to learn how to trade so I can make more money lol

3
big_donnie_42069 3 points ago +3 / -0

Buy GME and hold until mo day at LEAST

4
womendriverslol 4 points ago +4 / -0

I deleted my reddit account. Please share whatever amazing shit HAUPT drops.

4
alfredbester 4 points ago +4 / -0

well done

4
NinjaJeb007 4 points ago +4 / -0

Somebody needs to make a movie out of this... the quote-unquote Treatment and plot line is right here. Fascinating post!

4
BunkerHill 4 points ago +4 / -0

Thank you so much for your cogent explanation. This is beautiful!

4
66_Chevelle_SS 4 points ago +4 / -0

Damn good post. Thank you.

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deleted 4 points ago +4 / -0
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Trashaccount121 [S] 16 points ago +16 / -0

I already said this in my OP: There is no "next target", at least not one that I can see (and it would skirt legality to imply there's a "next target" as it gives ammo to the "GME was 'targeted' by reddit manipulators!" narrative.)

But there is nothing else that has the same technicals as GME. Nothing else was so aggressively shorted and made such a snap-back recovery, nothing else had 5 pieces of big news come and keep their price up, nothing else has several multi-billion-dollar hedge funds who just kept doubling down rather than bailing out. Nothing else will squeeze this hard, and depending on if the government and/or SEC decides to play the "no more toys for you" game, the conditions that led to this squeeze may NEVER come again.

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deleted 8 points ago +8 / -0
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Trashaccount121 [S] 16 points ago +16 / -0

Notice how I didn't even recommend anyone here buy GME, set nor declare my personal PT, and kept as vague as possible in what my positions are. I have no intention of implying that I am in any way smarter than any other retail investor right now. I really have nothing to offer y'all, and I've said the same both to people in various places online that I've mentioned my successes and to IRL friends, coworkers, etc., who want to know "hey man what's the next 10000% ticket to success"? Far as I can tell, there isn't one. GME is in a very unique situation right now.

But even on top of that, I honestly don't even have any idea what my move is once I cash out. I mean, first thing is setting aside however much math says I owe in tax (+10% or so probably for safety's sake), then I'm gonna be closing all my debts out, then... that's the thing, I really have no idea what the fuck to trade in next. This whole GME thing alone put me into the >25k territory (watch that get moved by all this drama) that lets me day trade at will, but even if I DIDN'T still have my job, like... I have no real idea of what, if anything, is the 'next big play'.

None of the meme stocks being pushed by WSB etc. have the technicals that GME does, and that total gain I can make off of them is probably already gonna be capped by the time GME shorts are squeezed for all they're worth. So I won't be playing AMC, BB, BBBY, none of those.

Probably just gonna invest in some fucking boomer stock with decent dividends while I finish out my navy contract through the end of this year, use the money to finance my move and new house, then figure it out from there.

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deleted 4 points ago +4 / -0
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Comntrinchief 2 points ago +3 / -1

Personally I would put it in renewable energy stocks. The Democrats are going all in on the Green New Deal no matter how much it devastates the broader economy. They aren’t hiding it either. It is purely ideological based economics.

3
CalmlyA 3 points ago +4 / -1

Thanks for this read. Better information from a random post on patriots.win than any other source.

3
AerialRush 3 points ago +3 / -0

My question, where can I go to join in with talking. The corpo faggots over at Discord and Reddit have obviously shown their colors again. Just wsbets.win to communicate for now? Any telegrams?

3
el-y0y0s 3 points ago +3 / -0

rip your tax bill next year.

8
Trashaccount121 [S] 8 points ago +8 / -0

Eh, the gains will be worth it, methinks.

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el-y0y0s 6 points ago +6 / -0

If there's any way to shelter short term gains, let us know !

3
Jimboslice73 3 points ago +3 / -0

Would you say what happened is close or not to the movie Trading Places?

2
FormerLibtard94 2 points ago +2 / -0

Thanks so much for breaking down what is happening bud.

2
Hanging_Chad 2 points ago +2 / -0

Well said.

2
big_donnie_42069 2 points ago +2 / -0

Fuck man I just sunk $666.69 on a put for GME tomorrow morning why’d you have to post this and make me want to buy more....

Absolute best explanation I’ve heard of this so far, thank you for posting this and hold to the moon!

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Trashaccount121 [S] 2 points ago +2 / -0

On a put? Are you fucking retarded?

Please tell me it was a March or April put at least, i.e. post-squeeze. Otherwise I won't feel sorry in the slightest for your losses, nothing personnel kid

2
big_donnie_42069 2 points ago +2 / -0

Wait I put it on on a buy like “buy $666 of stock whatever the share price is”... what’s a put?

3
Trashaccount121 [S] 3 points ago +3 / -0

Put Options... complicated trader shit. It's far too late at night for me to explain it at the moment, either DuckDuckGo it or check back tomorrow for my writeup.

Call options are way easier to explain.

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HeretostayUSA 2 points ago +2 / -0

Too late to get in?

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Trashaccount121 [S] 6 points ago +6 / -0

I am not a financial adviser. I will reiterate this a million times.

However, there is speculation GME could hit literally $1000+ per shares if we hold our stocks hard enough to make shorts beg to buy them at ANYTHING we ask them for. GME currently trades for about 300 per share, European market and pre-market hours in the morning will probably have the stock opening at... I would predict 350-400 tomorrow morning.

Do with that what you will.

2
PostPartyPresident 2 points ago +2 / -0

I've read that people will hold until Friday. Why Friday? And won't the hedge funds just continue their BS after Friday?

2
HiddenDekuScrub 2 points ago +2 / -0

Thanks for the writeup. Understood the gist of what happened, but didn't realize any big names were involved.

2
LibertySmiberty 2 points ago +2 / -0

Best thing I’ve read in a while. Just awesome.

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kommisar6 -3 points ago +1 / -4

Haven't you guys learned a thing or two about anonymous internet posters? You are naive If you think you are going to make money by letting someone else do the hard work and you not having to lift a finger. You know pump and dump is also a thing...

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Trashaccount121 [S] 3 points ago +3 / -0

All this financial data is available to anyone who wants to see it. The short interest isn't a fucking secret. The borrow rate for shorted shares isn't a fucking secret.

https://www.ortex.com/stocks/26195/shorts

If you don't understand what's going on, that's fine, but don't come in here and start spouting off bullshit. As I made crystal fucking clear in my OP and various replies ITT, the phenomenon that GME Short sellers are experiencing is quite possibly a once-in-a-century thing, and I don't want anyone to try to rush into buying the stock as some sort of get rich quick ticket to the moon.

Anyone here can read or watch any number of posts, threads, videos, etc. across all of social media, and be convinced into buying in, or warned off and told in no uncertain terms that they WILL lose if they participate now. That's not why I made this thread. People all make their own risk assessments. What I am doing is explaining just what is going on, for those unfamiliar with the market, so that regardless of whether or not they participate, they at least understand WHY this is happening, and how -- while incredibly rare -- this is a circumstance that happens in the market. Short squeezes are real. If you want to know why short squeezes exist, I guess re-read my OP.

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kommisar6 -1 points ago +1 / -2

"So let me begin by saying this: I am in on the GME squeeze, yes. I have been in since early December. I have made 5 figures so far on an initial buy-in under 10k, will soon be 6 figures, and... we'll see"

You are literally appealing to people's greed. Beware friends.

5
Trashaccount121 [S] 5 points ago +5 / -0

Well, just for your reference, most retail trader apps have frozen purchase of so called "meme stocks" anyways, so no one else can get in even if they wanted to.

I disclosed my position and added the "not an advisor" blurb because technically, if someone construed me explaining the circumstances as advice and bought in, and loses it all, I could be held legally liable.

The fact that you're sitting here going "hurr be careful guys this dude's just trying to scam you" tells me you're drinking the MSM fear koolaid, because the "w-we're protecting the little guy!" excuse is the current narrative du jour. Good job carrying water for the MSM and not reading literally any of what I said.

Only reason I posted this was to give an insight into what's going on, so that even people who have been on the sidelines and have no interest in this understand the ins and outs of how what's happening is happening, and why it's totally organic and possible under the right conditions, rather than listen to the literal lies that this is a freak event that shouldn't be possible that MSM is screeching to protect their wall street buddies.

The conditions leading to this are a series of 1% probability occurrences, to be clear, but nowhere along the line did something synthetic happen.

Let me reiterate one more time: shorts have to buy shares. Period. As of last I checked, short float is 140%. Even a quarter of that is 35%, if we assume ONLY a quarter of current short float is past-due back to brokers. That alone would mean that 35% of GME's 46 million shares on the market MUST be bought back by these hedge funds to return to their lenders. If no one sells to them, they'll say "okay, I'll pay more". If still no one sells, "okay, I'll pay even more." And this is a conservative estimate of how much they need to cover.

Do you need me to explain supply and demand for you, too?