mr.yuck Posted January 29, 2021 Share Posted January 29, 2021 (edited) @glorydaysinwatched that earlier and laughed my ass off when he compared robin hood to other industries that experienced shortages during the pandemic. They just happened to run out of money to cover all this fuckery. Edited January 29, 2021 by mr.yuck Premature postulation 1 Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 Just now, mr.yuck said: @glorydaysinwatched that earlier and laughed my ass off when he compared robin hood to other industries that experienced shortages during the pandemic. word up fuck that dude....those fucking old busted fucks lost money. the first thing they did was run to the SEC. they didnt do this shit in 2008 when the Lehmann's bro's fucked more than 30 million american's in the ass 1 1 Quote Link to comment Share on other sites More sharing options...
mr.yuck Posted January 29, 2021 Share Posted January 29, 2021 Ive been watching these fuck heads cry all day. They were talking about civil servants pensions being tanked as an unintended result. They made sure to mention trachers and fire fighters. Not cops though. That leads me to believe that police pensions are being fucked right now. They dont want to say so because people are already on some fuck the police shit and dont want to make people go even harder. Cops cant retire? Great news! 1 Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 1 minute ago, mr.yuck said: Ive been watching these fuck heads cry all day. They were talking about civil servants pensions being tanked as an unintended result. They made sure to mention trachers and fire fighters. Not cops though. That leads me to believe that police pensions are being fucked right now. They dont want to say so because people are already on some fuck the police shit and dont want to make people go even harder. Cops cant retire? Great news! they didnt mention cops cuz these fucks are old school democrats. they dont like cops cuz "gen z" these centrist fucks believe you can be LGBTQ+, black, undocumented, any political party... you can be anything....but you can't be rich and you can't fuck with a broken corrupt system. Quote Link to comment Share on other sites More sharing options...
NightmareOnElmStreet Posted January 29, 2021 Share Posted January 29, 2021 2 hours ago, Dark_Knight said: It literally happened to me this morning with amc. Idk how to even report it. I’ve been getting super weird emails from Robinhood the last few days leading up to all this shit telling me the markets very volatile. Is you can’t even buy any of that stock. Has this type dog thing ever happened before...? They can just shut shut down because it’s not going someone’s way?? Quote Link to comment Share on other sites More sharing options...
abrasivesaint Posted January 29, 2021 Share Posted January 29, 2021 (edited) I’ve read and heard it has to do with clearing houses, but that could just be an excuse. The fuck do i know. edit: @NightmareOnElmStreet You could also still buy it through other sources. Edited January 29, 2021 by abrasivesaint Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 all apps are now blocking the "reddit" stocks Quote Link to comment Share on other sites More sharing options...
where Posted January 29, 2021 Share Posted January 29, 2021 Robinhood is taking orders for gme amc Quote Link to comment Share on other sites More sharing options...
KILZ FILLZ Posted January 29, 2021 Share Posted January 29, 2021 It looks like vanguard still has GME available 1 Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 CNBC is finding reddit users to "interview" and "cancelling" CNBC is doxxing them instead fucking centrist fucks Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 LOOK AT THIS FUCKING CLOWN FAT RETARD SAYS THAT THE RULES WERE MADE TO REGULATE WALLSTREET AND IF THE "LITTLE GUY" WANTS TO PLAY, THEY NEED TO KNOW THE RULES. AS IF REGULATIONS WERE SLAPPED ON WALLSTREET IN 2008 2 Quote Link to comment Share on other sites More sharing options...
KILZ FILLZ Posted January 29, 2021 Share Posted January 29, 2021 That dudes outfit is teeming with small dick energy. 2 Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 HOLY FUCK GAMESTOP SHAREHOLDERS WERE SO SURE THAT GAMESTOP WAS GOING TO GO DOWN AFTER THE MARKET CAP WAS REACHED, THEY STARTED BETTING ON THE HEDGE FUNDS THEMSELVES THE SHARE HOLDERS KNEW THE COMPANY WAS GOING DOWN Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 brace for a small crash in the market again Quote Link to comment Share on other sites More sharing options...
Dirty_habiT Posted January 29, 2021 Author Share Posted January 29, 2021 16 hours ago, glorydays said: I'm chuckling to myself about this..... because people placed so much trust and belief in assholes that will do whatever benefits themselves the most. I'm not surprised in the least bit that people are getting fucked here. I'll be enjoying my popcorn and the money I earn by working while I watch this all burn down with people running around screaming everywhere that this was a major surprise. Who else saw catastrophe coming in a way that nobody would expect? I KNEW this wasn't going to go the way people thought it would. I still cannot and do not want to predict the outcome of this, but it's going to be plenty juicy and lots of people will be pissed, me not included. 🍿 2 Quote Link to comment Share on other sites More sharing options...
Dirty_habiT Posted January 29, 2021 Author Share Posted January 29, 2021 16 hours ago, Mercer said: Damn, that's fucking criminal. The irony of 12ozProphet members calling something criminal. Feel like this should be a meme. Who should enforce the laws that are being broken? 🍿 1 Quote Link to comment Share on other sites More sharing options...
Elena Delle Donne Posted January 29, 2021 Share Posted January 29, 2021 (edited) this is interesting from @Mercerspecifically, who i thjnk said he was more on the ancap side of things? but idk, i think most of us who have a graffiti background (myself included) at least partially acknowledge the existence of laws and regulating bodies Edited January 29, 2021 by Elena Delle Donne 1 1 Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 I support taxing the rich and giving tax relief to the poor and the labor class If i have to shell out 35% of my paycheck to the government, the rich better fucking pony up also 2 Quote Link to comment Share on other sites More sharing options...
Dirty_habiT Posted January 29, 2021 Author Share Posted January 29, 2021 4 minutes ago, glorydays said: I support taxing the rich and giving tax relief to the poor and the labor class If i have to shell out 35% of my paycheck to the government, the rich better fucking pony up also I think the goal is to get away from the paying high taxes to bring in high amounts of money. There are many ways around this, and I am guilty of what you said above right here. I pay a lot of my money into tax and I do not like it. I agree that some sort of tax should exist, but I do not like paying the amount I pay. Because of that, I will be trying to figure out ways to move my money around into other places where i can still benefit from it and gain more money.... without being taxed on it. There is no "tax on the wealthy" without creating a "tax on the wealthy" for the sole purpose of taxing them for being rich. Which, I doubt will ever happen. The point I'm trying to make is, they are subjected to the same taxes that everyone else is, they've just learned how to move money around in ways that doesn't allow it to slip between their fingers in taxes. My goal is to be like the people that know how to keep their wealth from being taxed..... it's not to make more and more salary. Making more salary gets you into higher tax bracket and it's a "consumer" mindset IMO. Wealthy folks don't think about how many more hours a week they can work to bring in more money, they just figure out how to make more money w/ the money they have and eclipse the amount of taxes they have to pay. This is smart IMO..... and I'm not saying this "to you" (GloryDays) because I don't think you know this, but rather because you got me to think this and then write it down with your comment. 1 1 Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 2 minutes ago, Dirty_habiT said: I think the goal is to get away from the paying high taxes to bring in high amounts of money. There are many ways around this, and I am guilty of what you said above right here. I pay a lot of my money into tax and I do not like it. I agree that some sort of tax should exist, but I do not like paying the amount I pay. Because of that, I will be trying to figure out ways to move my money around into other places where i can still benefit from it and gain more money.... without being taxed on it. There is no "tax on the wealthy" without creating a "tax on the wealthy" for the sole purpose of taxing them for being rich. Which, I doubt will ever happen. The point I'm trying to make is, they are subjected to the same taxes that everyone else is, they've just learned how to move money around in ways that doesn't allow it to slip between their fingers in taxes. My goal is to be like the people that know how to keep their wealth from being taxed..... it's not to make more and more salary. Making more salary gets you into higher tax bracket and it's a "consumer" mindset IMO. Wealthy folks don't think about how many more hours a week they can work to bring in more money, they just figure out how to make more money w/ the money they have and eclipse the amount of taxes they have to pay. This is smart IMO..... and I'm not saying this "to you" (GloryDays) because I don't think you know this, but rather because you got me to think this and then write it down with your comment. Ive read the donation rules, specifically at the higher tax brackets. apparently, if you donate a certain amount, depending on the tax rules that year, you can avoid paying any federal or state taxes at all. I think its a good goal to be able to make enough money to be more than comfortable. I'm never against anyone wanting to make more money. But to make money off workers who work 60 hours a week and then turning around and claiming that the person who "invested" should get the lion share.....no, im against that. i dont care what anyone's ideology is, that is textbook definition of worker exploitation. 2 Quote Link to comment Share on other sites More sharing options...
Dirty_habiT Posted January 29, 2021 Author Share Posted January 29, 2021 But.... in a free country, is it exploitation? I leave jobs when they piss me off.... and don't look back. If that isn't a capability for someone, is it the employer's fault or is it the employee's fault? 60h/wk is also a sign that more staff is needed and your boss not wanting to hire more staff instead of making you work 1.5 person's jobs per week (60h) is a great sign that it's time to fuck off to another place of employment. 60h/wk is a symptom of bad management caused by unwillingness to hire more staff. People have this twisted idea that overtime is a good idea. If you're working overtime to "get what you want" out of life, then I would question, is your life about working or is it about living? Sounds like it's about working. Better plan is to soak up that "extra pay" by getting more per hour. Also, let's look at this, who do you think is more pissed to pay high taxes? Person A. Worked 60h last week. Made $10000 Person B. Worked 30h last week. Made $10000 I'm striving to be person B.... while, I think, most of the world thinks the way to more pay is to be person A. The "work harder" mindset is what lets bosses and employees participate in that 60h week bull corn. 1 1 Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 15 minutes ago, Dirty_habiT said: But.... in a free country, is it exploitation? I leave jobs when they piss me off.... and don't look back. If that isn't a capability for someone, is it the employer's fault or is it the employee's fault? 60h/wk is also a sign that more staff is needed and your boss not wanting to hire more staff instead of making you work 1.5 person's jobs per week (60h) is a great sign that it's time to fuck off to another place of employment. 60h/wk is a symptom of bad management caused by unwillingness to hire more staff. People have this twisted idea that overtime is a good idea. If you're working overtime to "get what you want" out of life, then I would question, is your life about working or is it about living? Sounds like it's about working. Better plan is to soak up that "extra pay" by getting more per hour. Also, let's look at this, who do you think is more pissed to pay high taxes? Person A. Worked 60h last week. Made $10000 Person B. Worked 30h last week. Made $10000 I'm striving to be person B.... while, I think, most of the world thinks the way to more pay is to be person A. The "work harder" mindset is what lets bosses and employees participate in that 60h week bull corn. That is the ideal version, though, isn't it? That's if the planets are aligned and that person is able to acquire new employment BEFORE quitting the shitty job. It does look good on paper. But look at what's happenning now. Unemployment is fucking skyrocketing and the few jobs that are still out there are being competed for. If millions of workers compete for only thousands of jobs, then it is safe to say that the workers really wanting the job would work for the least amount of money. like the joke that everything contracted by the federal government is made by the lowest bidder. And in a free market where every entity joining the marketplace has "free choice" Is it really a choice when we tell workers "work that job or leave"? That's like saying its either you eat shit or eat nothing at all. that's not a choice, you HAVE to work (shitty job or otherwise) or eventually become homeless or starve. 2 1 Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 wallstbets_20210129_101045_0.mp4 Quote Link to comment Share on other sites More sharing options...
Kalashnikov Posted January 29, 2021 Share Posted January 29, 2021 To be fair, the people having their GME sold off bought on margin. That's in the TOS when you sign up for a margin account. I have to say, this is all very interesting to watch play out, that's for sure. Either way, lots of people are invested just to send a message. This is all going to crash and burn as soon as Melvin/Citadel are out. It's just a shame that the United States advertises itself as having "free market capitalism", we know that isn't the case. Just with everything else in this country, it's the illusion and feeling of freedom so long as you don't try to go after the ones who really control things. 2 3 Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 3 minutes ago, Kalashnikov said: To be fair, the people having their GME sold off bought on margin. That's in the TOS when you sign up for a margin account. I have to say, this is all very interesting to watch play out, that's for sure. Either way, lots of people are invested just to send a message. This is all going to crash and burn as soon as Melvin/Citadel are out. It's just a shame that the United States advertises itself as having "free market capitalism", we know that isn't the case. Just with everything else in this country, it's the illusion and feeling of freedom so long as you don't try to go after the ones who really control things. I agree. The laissez faire attitude is a fake freedom presented as capitalist patriotism which only benefits the rich. The working class is tricked into thinking that they arent "poor", its just a rough patch. Everyone in America is "on their way to being rich" The trick is: "if I work hard enough, I'll be like Elon Musk and Jeff Bezos" That's propaganda that makes workers work even harder for inadequate pay thinking that they'll become rich. 1 1 Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 1 3 Quote Link to comment Share on other sites More sharing options...
Dirty_habiT Posted January 29, 2021 Author Share Posted January 29, 2021 rekt 1 Quote Link to comment Share on other sites More sharing options...
Elena Delle Donne Posted January 29, 2021 Share Posted January 29, 2021 20 minutes ago, glorydays said: excellent, just a great show all around 2 Quote Link to comment Share on other sites More sharing options...
glorydays Posted January 29, 2021 Share Posted January 29, 2021 A Small Reminder of Some of the Risks Involved There is a prevailing mis-understanding among people fresh to the market that you can buy and sell as much as you want at the "market price." This is false. You are buying and selling from real people or algorithms that believe they can scalp your order. The idealized scenario is that GME rallies, Melvin covers, and everyone at reddit gets out at the top. This represents a misunderstanding of market mechanics. Melvin will cover before we truly know it, and the crash will happen as quick as the rally. So with recent events, you must ask yourself: Who is Your Counterparty? Nothing is a sure bet. How confident are you that your counterparty is who you think it is? Thousands of redditors & new traders beyond have been buying stocks fully confident that Melvin Capital hasn't exited their trade. This is also supported by some analysis provided by two different firms, although their estimates differ some amount. Confounded in this is the interpretation of the data: Does this include market makers and dealers that are short stock but covered with calls or options deltas? Is their information fully accurate in an event the likes of which has never happened? It's tough to know for sure. Know Everyone's Hand Your guess on how much they've covered and when they covered has a massive effect on how you perceive the value of this trade. Buying if you think Melvin has $10b notional to cover is a much better bet than if they only have $2b to cover. You also have to consider how much notional the rest of the market has bought in anticipation of a squeeze. The difference between the two represents your effective edge. Remember, we don't actually know Melvin's current position. We don't know what's going on behind closed doors. We only know the hand they're showing us via media. Has their clearing firm taken over? Has a much bigger collection of firms absorbed the position? Have they been buying since Monday? Have they covered and have new funds entered the space at a much better level? You are fighting Goliath at a poker table in the city of Gath. The pot is worth $25 billion dollars. Ken Griffin has never lost. Melvin's prime brokers Morgan Stanley, Goldman Sachs, Deutsche are not used to losing (well, Deutsche is). They will do whatever it takes to take the pot from you and leave you holding the bag. They will not blink twice because there is a lot of fucking money on the line. Know What Can Go Wrong Nobody could have guessed everything that happened this week. Prepare yourself for the unexpected. Your brokerage will undoubtedly close out your position at the worst possible time. The stock could be halted for days. You could be assigned on ITM options. Your stock could get delisted. Your stock may get diluted. Only Spend What You're Willing to Lose This one is self explanatory. Your investment could go to zero. Even if you think you make money on every trade, if your bet size is 100%, the long term value of your portfolio is zero. Don't Take Out Loans on Emotional Capital If you are new, you really don't know the gut-wrenching, stomach-turning feeling of seeing the possibility of your net liquidity hitting zero or negative. It fucking sucks. You just know the highs. You're buying along the speculative frenzy and frantic rallies, wrapped in anti-billionaire & pro-underdog themes. It may even feel good to think that a guy who cut his teeth at a firm notorious for an insider trading scandal is getting his comeuppance. We love the feeling. If you are fully invested financially & emotionally, you are completely overleveraged and will pay the price. Make feeling good your goal, and set limits that you can stomach. There are several feel-good stories of people making life-changing money to pay off their student loans or their family members' surgeries. Please think twice about this, and only spend what you can afford to lose. If placing a bet makes the difference between your pet living or dying, you may have a gambling problem. These were success stories because they got in at a much better level and could have had a much sadder ending. Secondly, don't take it personal. There are people on the other side of your trades, your brokerage support line, the subreddit, the media. They are all playing their own hand to the best of their knowledge. It's easy to blame a broker, yell at their support desk, hate-tweet at a company, or even rage-text that guy you know who develops APIs at ETrade. A lot of people across the industry are rooting for you. Fuck, even Ted Cruz and AOC are rooting for you, because this transcends politics. If you're mad at Melvin Capital or Ken Griffin or the guys who crashed the economy in 2008, keep it that way. They will try and misdirect your anger in every single direction: brokerages, the media, and reddit. If your enemies are a few guys at the top holding a $25b short position and moving levers, keep it that way. Thirdly, if you don't want to be a human being for the sake of the person on the other side, be a human being for your wallet's sake. You make better financial decisions in the absence of emotions. 1 1 Quote Link to comment Share on other sites More sharing options...
ndv Posted January 29, 2021 Share Posted January 29, 2021 23 minutes ago, glorydays said: Talk about a Stonk... 2 Quote Link to comment Share on other sites More sharing options...
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