The short squeeze is back on after Robinhood folded a little and permitted plebs to buy. There are a lot of narratives being tossed around this morning but I want to make something indelibly clear to the readers of IBC.
THE EASY MONEY has been made in the squeezes. The writing is on the wall. I’d avoid those stocks like the plague. It simply isn’t worth it, being a revolutionary and all like a retard whilst trading stocks. My only goal is to make money, not to destroy the financial system as we know it.
Having said that, I am seeing a trend in metals today, especially junior miners. Also, DOGE coin has a surreal run last night and both BTC and ETH are taking off.
On this Friday, you want to be long crypto derivative stocks and miners. Avoid GME, AMC, BBBY like the plague, imo.
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I’m so happy I bought some $GME on the australian market.
Good work mate
Yup.
Been buying at the close and selling last two days in pre-market SIL etf, GDXJ etf, and PAAS.
Bought RIG (Transocean Offshore) heavily shorted this AM @3.30 and sold @3.38 like 15 minutes later because I be scared of a heart attack.
Listen closely and you get hear the deck chairs of the Titanic starting to slide towards the iceberg.
Long SOFI through IPOE thank me later Fly
market weird as fuck.
… and the iceberg is getting closer.
RH had to borrow cash and I am sure there are hedge funds and market makers in trouble and thus selling to raise cash.
Can you say Lehman Brothers?
What doesn’t make sense is why no other big funds didn’t put the squeeze on GME, etc before this. Short interest isn’t a big secret that Redditors discovered and I can’t imagine other funds aren’t pressing just out of common courtesy. Thoughts?
It may because the hedge funds, market makers, investment bankers etc. are regulated by the Securities Exchange Act of 1934 and within said Act prohibits market manipulation. The Law is an outgrowth of the 1929 Crash where stocks were clearly manipulated stocks up to and including the Crash.
Although the individual posters on Reddit can’t be fined/prosecuted there may be a case against Reddit itself. I really don’t know and would have to look up the definitions within the Law and as defined by subsequent Federal Court decisions.
Just an opinion.
P.S. I turned down an SEC job 40 years ago right after Law School because I didn’t want to get put in a Regional Office reading Corporate filings.
Could be… I don’t know the answer but 140% short seems to be market manipulating a company into bankruptcy, no?
With the recent Softbank gamma squeeze it doesn’t seem like it would be illegal for a fund to take a large position via calls and shares.
Some funds are long… I kinda just think it happen too fast, they are embarrassed, and they are all in cahoots
Because all of them, SB are pump& dump schemers.
Sometimes it is a fine line between arbitrage and hedging.