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Who had that Bitcoin target price prediction?

racer1

racer1

Tom Curren status
Apr 16, 2014
12,966
15,053
113
Honolulu, Hawaii
I'm amazed at the genius of it. And that the reddit forum all knows they're idiots and that it's going to dump at some point but if they hold on through Friday it'll be another wave of shorts getting rekt. It's like yeah the stonks gains are great but look at Cohen bailing out billions. It's beautiful and of course it's going to end with somebody holding the bag, but it's still glorious.

Looks like some larger institutions / whales are sniffing at that Cohen $2.8 billion dollar bailout.
 
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racer1

racer1

Tom Curren status
Apr 16, 2014
12,966
15,053
113
Honolulu, Hawaii
Went deep down that reddit. This isn't a pump and dump. I mean it sure looks like it now, but there's guys in there that have been long on GameStop for months even a year plus. There's just so much short money on it, there was actually more short calls than there was even shares available.
 
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Sharkbiscuit

Duke status
Aug 6, 2003
26,709
19,656
113
Jacksonville Beach
Just so I'm clear here, we have a possible massive naked short, which is basically an all-out financial fkng assault on a business, and the problem is, a bunch of dudes who miss hanging out at the mall listening to Sum 41 and trying to hook up with chicks that look like Avril Lavigne just picked an icon of their youth, and decided to defend it, because it was getting picked on too much.

And the problem isn't naked shorting, oh no no no. The problem isn't using CNBC to shill for you. No that's standard issue hedge fund stuff.

The problem is people who like to jack off to late aughts Avril Lavigne defending an American Business.

I wonder if the hedge funds tossed a brick through a window and spraypainted "BILLIONAIRE LIVES MATTER" on a GameStop if the narrative would be reversed.
 
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casa_mugrienta

casa_mugrienta

Duke status
Apr 13, 2008
43,700
18,207
113
Petak Island
racer1 said:
While I am pessimistic about it's actual acceptance into mainstream commerce/finance, I do think the US dollar is fcked.

Saw a stat that said 20% of the USD in circulation was CREATED in 2020.

WUT?!

And that number will go up when we push out more stimulus, more UI and more PPP loans.

I feel like all my cash savings is a ticking time bomb.
Click to expand...
Well, looks like Grampa Joe is also gonna give us the rest of that $2,000 stimulus Trump wanted to give that those mean Repubes blocked.

Just print it.
 
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SlicedFeet

SlicedFeet

Miki Dora status
Dec 17, 2004
4,752
989
113
Swarm Diego
That Redit group is now viral.

The SEC would be all over it but I don't think the SEC has anything to do with Crypto exchanges. You guys will look back on this as the good 'o' days. I used to trade a ton back in the early 2000's and that's when Yahoo Groups and Yahoo Finance had tons of Message Boards. The SEC did monitor those.

As per GameStop and Bed Bath & Beyond, etc. Any time there is no Fundamentals driving the stock, all eyes are on it.

It looks like most of the call options on the Crto is Out-of-the-money (They were hoping for a higher price which would make them money without having to own the crypto) which just means that they lose all what they put in. I don't see this affecting the crypto price at all but a HUGE windfall for the MarketMaker. Don't know anything about the Crypto option board but damm, that has to be irresistable to savy Marketmakers. Talking about stealin candy from baby's - freaking GoldMine and unregulated.
 
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racer1

racer1

Tom Curren status
Apr 16, 2014
12,966
15,053
113
Honolulu, Hawaii
GME trading above $300 all day. Citron and Melvin said they took significant loses and got out. That one dude $22M is now worth $50M. It sounds crazy, but if you read what happened it's not. GME was over shorted. Reddit nerds saw a weakness and started buying GME to put a short squeeze on all the short calls. Well the short calls are getting fcking squeezed! Friday is gonna be nuts.

The hilarity of that Reddit forum is that it used to be where you went to see HUGE losses. Like guys taking margin calls before an earnings report and then losing it all. That's why it was called wall street bets, cause guys were getting rekt and showing screenshots. Now media is saying it's some sort of organization or hedge fund itself. So funny.
 
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Sharkbiscuit

Duke status
Aug 6, 2003
26,709
19,656
113
Jacksonville Beach
racer1 said:
GME trading above $300 all day. Citron and Melvin said they took significant loses and got out. That one dude $22M is now worth $50M. It sounds crazy, but if you read what happened it's not. GME was over shorted. Reddit nerds saw a weakness and started buying GME to put a short squeeze on all the short calls. Well the short calls are getting fcking squeezed! Friday is gonna be nuts.

The hilarity of that Reddit forum is that it used to be where you went to see HUGE losses. Like guys taking margin calls before an earnings report and then losing it all. That's why it was called wall street bets, cause guys were getting rekt and showing screenshots. Now media is saying it's some sort of organization or hedge fund itself. So funny.
Click to expand...
Media = fake news. If it was an investment bank or hedge fund nobody would be talking about any consequences for its actions.
 
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SlicedFeet

SlicedFeet

Miki Dora status
Dec 17, 2004
4,752
989
113
Swarm Diego
Getting dumped in after hours. Don’t have my computer on, I do have level 2 options trading and would love to see the volume and spreads. Going to have to make some popcorn. AMC would be be happy about that.
 
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