Reddit Trolls Wall St. Hedge Funds, Buying Up GameStop Stock

[Krugminator2]

GME and AMC getting a little heavy. Small short in both. If GME breaks the 50 day could be start of 70 dollar plus drop.

GME down $55. AMC down 44%.

Sometimes I get it right.

 

[devil21]

GME down $55. AMC down 44%.

Sometimes I get it right.

As always with shorting, don't get greedy. The curious thing is that buying is outpacing selling by 3+ to 1 yet price keeps dropping slowly. Level 2 shows that 1 share orders are constantly being wash-traded back and forth to slowly lower the price. You were right but don't get greedy. This same algo cycle repeats on GME every ~90 days but the bottom is higher each cycle.

 

[Krugminator2]

As always with shorting, don't get greedy. The curious thing is that buying is outpacing selling by 3+ to 1 yet price keeps dropping slowly. Level 2 shows that 1 share orders are constantly being wash-traded back and forth to slowly lower the price. You were right but don't get greedy. This same algo cycle repeats on GME every ~90 days but the bottom is higher each cycle.

I covered AMC pre market last week at 40ish and didn't reshort. I covered GME around 178. and only got a small reshort at 190. Covered after hours yesterday around 154.

 

[devil21]

I like the stock at this price. Feels like the on-sale price will end in a couple weeks. Price averaging down is usually a good move when you like a stock, right [MENTION=59651]Krugminator2[/MENTION]? Thinking about adding another share or two this week.

 

[Krugminator2]

Robinhood IPOs Thursday, July 29th. Themes tend to underperform when significant IPOs and futures contracts hit the market. I wouldn't be surprised if Bitcoin and meme stocks hold up until Thursday and then there is a sell off. Not a prediction. More something to be aware of and take advantage of if things start to sell.

 

[Krugminator2]

Robinhood IPOs Thursday, July 29th. Themes tend to underperform when significant IPOs and futures contracts hit the market. I wouldn't be surprised if Bitcoin and meme stocks hold up until Thursday and then there is a sell off. Not a prediction. More something to be aware of and take advantage of if things start to sell.

Meme stocks straight down. GME down 40ish dollars since. Fresh multi-month lows on AMC

 

[devil21]

nm can't get image to embed.

Gensler basically admitted during a CNBC interview that Citadel and Virtu are routing buy orders to dark pools but routing sell orders (and wash trading) to lit exchanges. There's something very systemically wrong when the Citadel hedge fund naked shorts a stock, then the Citadel market maker routes trades that go against its hedge fund position off-exchange to a Citadel dark pool. End result is Citadel literally controls half of the market's daily movements however it wants. I've been writing about this through this entire thread. Rigged piracy. It's not even about shorting, per se, but rather that Citadel literally can ensure that its hedge fund never loses a bet since it controls half of all order flow and how that flow may or may not be allowed to affect exchange pricing.

On GME: just watch the options chain starting wednesday of each week. whatever price screws the most options holders on both sides, relatively close to the published price on wednesday, is where it'll close friday.
this is what happens when two entities control almost all order routing and how that routing affects, (or doesn't affect, if that is the goal) the published price. it's a license to steal under false pretenses.

 

[Krugminator2]

Reshorted GME. Might not work. Low risk idea. Closed at 157. Risk 8 bucks with idea that it will drop 100 bucks or so in a slow bleed over the next year

 

[devil21]

Reshorted GME. Might not work. Low risk idea. Closed at 157. Risk 8 bucks with idea that it will drop 100 bucks or so in a slow bleed over the next year

Good luck. Why you insist on messing with GME, given all the dodgy shit going on with that symbol, I'll never understand.

 

[Krugminator2]

Reshorted GME. Might not work. Low risk idea. Closed at 157. Risk 8 bucks with idea that it will drop 100 bucks or so in a slow bleed over the next year

Really strong close today. Exited. for a small loss.

 

[ccrsedona]

This is my first time here, just registered and Don't know how to start a post, it says I don't have permission. This is off topic but I wanted to say I tried to post on FB a link to an old article here about the real reasons that the Civil War started. Lo and behold FB Blocked it and wouldn't let me post it? They said it went against Community Standards. F them Fascists!

 

[oyarde]

This is my first time here, just registered and Don't know how to start a post, it says I don't have permission. This is off topic but I wanted to say I tried to post on FB a link to an old article here about the real reasons that the Civil War started. Lo and behold FB Blocked it and wouldn't let me post it? They said it went against Community Standards. F them Fascists!

Greetings .

 

[devil21]

Retail has started directing brokers who offer IEX exchange routing to place their GME buy orders through IEX, under the discovery that IEX isn't controlled by Citadel and Virtu and such routing does affect exchange pricing. Brokers offering IEX are already limited since most brokers are under Citadel's pay-for-order-flow scheme already. What has been revealed since retail started directing buys to IEX? ALL of the brokers who offer IEX routing still send the order to Citadel (CDRG) first and Citadel promises to then forward the order on to IEX exchange. I'm sure Citadel can be trusted to follow through Never mind that such practice is explicitly illegal, since it violates SEC trading regulations for a broker to not route an order where the trader directs it to be sent.

The general conclusion being drawn by deep-diving folks is that there are no more organic shares being traded (they've all been bought and held by retail and various institutions). Citadel is now simply conjuring up fake shares to "sell" from their dark pool, using their 6 day ability to do so as a market-maker (a form of temporary naked shorting which is legal for market makers to do to ensure market liquidity and trading activity), until they locate a real share to deliver to the buyer's account. If no real shares are found, and apparently there aren't any being traded, Citadel just experiences a fail-to-deliver and hides it in the dark pool. Buyer still sees that share in their account, though. Such a practice would explain a lot about what's going on and what has been going on in "markets" for a long, long time.

 

[Krugminator2]

The general conclusion being drawn by deep-diving folks is that there are no more organic shares being traded (they've all been bought and held by retail and various institutions). Citadel is now simply conjuring up fake shares to "sell" from their dark pool, using their 6 day ability to do so as a market-maker (a form of temporary naked shorting which is legal for market makers to do to ensure market liquidity and trading activity), until they locate a real share to deliver to the buyer's account. If no real shares are found, and apparently there aren't any being traded, Citadel just experiences a fail-to-deliver and hides it in the dark pool. Buyer still sees that share in their account, though. Such a practice would explain a lot about what's going on and what has been going on in "markets" for a long, long time.

GME is easy to borrow (meaning I don't have to pay to locate it) at all three brokers I use. The current short interest is only 13%. There is no reason to naked short. It doesn't even make sense. People can short all the shares they want.

Lets say every retail trader made it so they couldn't have their shares lent (probably .0005% do this) but lets say they did. You have still have institutions that hold 40% of the shares. They get paid interest to lend shares. It is no brainer for Vanguard or whoever has shares to do this with their index funds.

Here is the reality. This is $30-$60 stock. No one is suppressing the price. This WILL drop. It isn't a matter of if but when. And it will have nothing to do with the Jews or Blackrock or Citadel or Steve Cohen or market makers. The company is junk and the fundamentals aren't getting better. Weeds don't grow to the sky. Gravity is undefeated.

 

[devil21]

GME is easy to borrow (meaning I don't have to pay to locate it) at all three brokers I use. The current short interest is only 13%. There is no reason to naked short. It doesn't even make sense. People can short all the shares they want.

Lets say every retail trader made it so they couldn't have their shares lent (probably .0005% do this) but lets say they did. You have still have institutions that hold 40% of the shares. They get paid interest to lend shares. It is no brainer for Vanguard or whoever has shares to do this with their index funds.

So you know that your borrowed shares for retail shorting are either shares taken from someone's margin account at your broker or an institutional holder lending but not selling you sell their shares. What I posted is that liquidity of organic, owned shares being bought and sold has dried up. If you chose to simply buy a share, you would likely receive a fake share from Citadel's off-exchange dark pool, not a NYSE traded share. Retail buys are being routed into dark pools to keep them off the exchange of organic buy/sell spreads. Short sales like yours, along with wash trading, is what constitutes most of the daily volume. Volume which continues to drop lower and lower. Or put more succinctly, retail and institutions own the entire float and are not selling. Only buying and lending for shorting. Of course all expect to receive those lent shares back at some point. Published SI is irrelevant. I respect your general knowledge of trading but there's several ways to game SI numbers using options and other tricks. Or better yet, just read this:

https://www.reddit.com/r/Superstonk/comments/nt8ot8/rip_uleavemeanon_where_are_the_shares_part_1/

Here is the reality. This is $30-$60 stock. No one is suppressing the price. This WILL drop. It isn't a matter of if but when. And it will have nothing to do with the Jews or Blackrock or Citadel or Steve Cohen or market makers. The company is junk and the fundamentals aren't getting better. Weeds don't grow to the sky. Gravity is undefeated.

LOL nothing about valuation matters in the entire "market" anymore, and most certainly not regarding GME. You may be right about real value but real value stopped mattering one bit when the Fed started doling out money directly to Wall St and when underhanded tactics to suppress normal market functions were implemented back in January.

 

[devil21]

Really strong close today. Exited. for a small loss.

I bet you're glad you're not still short today, eh?

 

[Krugminator2]

I bet you're glad you're not still short today, eh?

The only time I have bought GME was last November around 12 and sold it around 14 or 15. It was actually a pretty good spot to get long today. AMC was a perfect squeeze setup. I have a such a hang up buying crap like this. Good work if you still have AMC.

These have been my best last couple of days in a long time. Took some off the table today. Will take a bunch off the table tomorrow before the Fed Meeting on Wednesday. This feels like a last ditch squeeze to get people back into the market before a rug pull later in the week. Might be wrong but will use this rally to sell into.

 

[devil21]

Some recent developments in the Gamestop saga:

- lawsuit discovery has revealed that both Vlad Tenev and Ken Griffin lied to Congress during the first hearing.

- Citadel loaded up fresh shorts overnight Jan 27-28 on GME after RH and other brokers were directed to shut down buying the following morning of Jan 28 (and in my case, at least, my entire trading account with Ally was locked at the direction of APEX Clearing for 2 days, preventing me from maintaining other positions also). This indicates massive conspiracy between Citadel, clearinghouses and brokers to defraud traders since they knew the price would plummet once buying was turned off. RH's COO said "we will be crucified for pco'ing (position close only)". It's one thing to claim pco'ing to protect the overall markets. It's something entirely different to purposely attempt to hugely profit from it at the same time....but that's what Citadel did. Pirates can't just not steal, can they?

- (edited) Some GME holders are directly registering shares in their names through Computershare, thus removing the shares from "street name" registration with Cede&Co and by extension, could prevent the new shares from being lent right back to Citadel to short again. Recent educated estimates show many times the published "shares issued" have been created by market makers (perhaps as high as 1 billion+ synthetic shares). Indeed the market is full of "fake shares" of GME and probably every other stock of consequence.

(eta^^^: I do not endorse the direct registration of stocks, DRS, as a way to bypass Dtc since it does no such thing. Seems to me that it adds another layer of complexity that isn't needed for selling. Only physical stock certs bypass Dtc. DRS does not. DRS may be a benefit for taking shares out of the "available short pool" but it does not provide full ownership rights. DRS agents even admit that selling at very high price generally requires sending written letters, processing time, perhaps even a fee and then after all of that is processed the DRS agent sells in mass lots of shares at whatever the market price is at that time. Good luck with that stuff working out if/when GME launches, as DRS agent wades through multiple thousands of "SELL NOW" letters. IMO, it's better to keep shares liquid with a broker and sit on hold waiting to talk to the broker's trading desk for relatively quick execution. Perhaps they can shut down the website but would they risk shutting down all customer access phone lines also? Yes there are other considerations such as whether a shareholder through retail brokerage is eligible for a dividend, as opposed to a registered shareholder....remember that "registration" of anything means turning over ownership to some other entity....I have no thoughts on the dividend scenario. It's quite a system of mumbo jumbo and fuckery they've built. Probably best course imo is to spread existing shares and newly bought shares out amongst brokers and the DRS agent, including direct purchase via DRS agent, to limit counterparty risk. It is worth noting that DRS agent accounts are generally -not- covered by SIPC insurance, though, unlike regular brokers.)

 

[devil21]

A decent clif notes video of GME events to date:



Stayed tuned. Fun is just getting started.

 

[devil21]

Post 293 mentioned the IEX exchange. A new wrinkle in the IEX lit market routing appears today. Citadel sued the SEC for implementing a rule that allows IEX submitted orders to circumvent Citadel's illegal price fixing. I've noticed how PFOF-to-Citadel brokers are limited in how much an order re-submission can be adjusted if the bid isn't met. Usually only in .05 increments. Where does that extra .04-.05 cents go? You already know folks....Hamptons beach houses! This new order system anticipates the rigged piracy and instead automatically resubmits at better pricing for the buyer, thus limiting the PFOF skim. Of course Citadel hates that and will claim their piracy of investor's money is for investors own good in court......

https://www.reuters.com/article/us-...pproval-of-new-stock-order-type-idUSKBN27201E

(Reuters) - Citadel Securities, which provides trading services to asset managers, banks, broker-dealers and hedge funds, has sued the Securities and Exchange Commission over its decision to approve a new mechanism for trading stocks at upstart exchange operator IEX Group Inc.

“The SEC failed to properly consider the costs and burdens imposed by this proposal that will undermine the reliability of our markets and harm tens of millions of retail investors,” a Citadel Securities spokeswoman said in an email on Friday.

The lawsuit, which was filed on Friday and first reported by the Wall Street Journal, increases Citadel Securities’ dispute over IEX’s “D-Limit” order type. The D-Limit is designed to give traders a way to buy or sell stocks at the exchange while protecting them against unfavorable price moves.

Citadel Securities earlier asked the SEC to reject the proposal from IEX, saying the D-Limit will damage the U.S. stock market’s integrity. But in August, the SEC sided with IEX allowing the plan to go forward.

Citadel Securities asked the U.S. Court of Appeals for the District of Columbia Circuit to review the SEC’s decision to approve the D-Limit order, according to a copy of the court filing.

The SEC was not immediately available for comment late on Friday.

IEX President Ronan Ryan, in a statement quoted by the Wall Street Journal, said he was confident the SEC’s decision will be upheld. “Since its launch on Oct. 1, D-Limit is already proving valuable to a broad set of market participants,” Ryan said.

“From our perspective, this recent action should only encourage more investors, brokers and market makers to use D-Limit given that the protections we have created are clearly working,” Ryan said.

IEX CEO: Markets are rigged. Check out this video. You can tell who's the shitheel and whos the decent dude.


Long interview with Flash Boys author from above video about HFT theft and author of The Big Short book.