Carpet_pissr wrote: Fri Jan 29, 2021 2:38 pm
@Hamlet: Well played (in terms of selling vs holding IMO). That was the only smart move unless you just wanted to play the lottery for funsies with that new found money.
Yeah, my dad is retired and pretty risk adverse so we all felt good about it. Once this pandemic is over they (mom & dad) have big plans for travel too, so this is really great for them.
Carpet_pissr wrote: Fri Jan 29, 2021 2:38 pm
@Hamlet: Well played (in terms of selling vs holding IMO). That was the only smart move unless you just wanted to play the lottery for funsies with that new found money.
Yeah, well done. If there was lot of FOMO, maybe keep 50 shares but I think you did just fine.
Great timing to get together and have the conversation!
CNBC last night was reporting that in order avoid traditional capital infusions they had to go to investors and promise them bigger pieces of pie to get infused along with promises to discounted pieces of pie later.
This corresponds to
Robinhood, which is privately held, contacted several of its investors, including the venture capital firms Sequoia Capital and Ribbit Capital, who came together on Thursday night to offer the emergency funding, five people involved in the negotiations said.
Basically, Robinhood blew it by not being honest about this. They should have just come clean and explained that they were short of cash to cover all the action on these stocks.
Agreed. Andrew was asking Vlad if it was a liquidity problem and Vlad denied it. That should have been the putting it on the table moment, not a shell game of words. I don't know if it will bite them in the ass but I sure wouldn't trust them with my money.
Gruber is right, IMO, that they should have just come clean about this from the start. Now they look like the amateurs, and like they blew their 'let the people trade' reputation.
LawBeefaroni wrote: Fri Jan 29, 2021 4:31 pm
While everyone is watching the GMEs, indexes are inching lower.
I picked up 3 shares of VTI today. $195, $194, $193.
Closed out SQQQ calls I bought Wednesday. I buy those occasionally when I'm not confident enough to sell long positions but have a feeling indexes will go down. It's ambien.
LawBeefaroni wrote: Fri Jan 29, 2021 4:31 pm
While everyone is watching the GMEs, indexes are inching lower.
I picked up 3 shares of VTI today. $195, $194, $193.
Closed out SQQQ calls I bought Wednesday. I buy those occasionally when I'm not confident enough to sell long positions but have a feeling indexes will go down. It's ambien.
I'm poised to continue buying on the dip/correction/drop. I mentioned before I've been increasing cash with nowhere comfortable to put it and would have been pulling more if I was reasonable to do so. I'm not sure if I'll reload back up to $195 or leave it as is. I'm poised to purchase up to nearly a 20% drop, currently down to $184. It was set all the way down to $172 but I raided some of that money on an impulse buy for PFE.
LawBeefaroni wrote: Fri Jan 29, 2021 5:37 pmSLV 1 share limit.
List makes no sense. For example, AMC, you can only trade 1 share but 10 options contracts? RH is fucked.
I was just talking about this with a contact from a big exchange I used to consult at. He thinks the clearing house has underneath changed the collateral requirements for these options. It doesn't make much sense to me because the money at risk is known. One thing I don't know is does RH allow naked puts?
LawBeefaroni wrote: Fri Jan 29, 2021 5:37 pmSLV 1 share limit.
List makes no sense. For example, AMC, you can only trade 1 share but 10 options contracts? RH is fucked.
CNBC just said they saw a list of 50 RH limits and they couldn't make sense of the rationale but that RH said it was because of how RH were monitoring trades. They listed GM as one of the limited equities.
LawBeefaroni wrote: Fri Jan 29, 2021 5:37 pmSLV 1 share limit.
List makes no sense. For example, AMC, you can only trade 1 share but 10 options contracts? RH is fucked.
CNBC just said they saw a list of 50 RH limits and they couldn't make sense of the rationale but that RH said it was because of how RH were monitoring trades. They listed GM as one of the limited equities.
Right - that is the mystery. A little disclosure I spent a year helping that big exchange with part of their surveillance/monitoring program from an IT risk POV which is why I am a little confused/borderline concerned about this situation. So when I hear a brokerage talking about limiting trades due to monitoring...well usually you apply those to individuals...not the whole platform. It's wacky.
So what happens if someone buys 10 AMC $1 calls (or whatever the lowest strike is) and tries to exercise? Do they get 1,000 shares (which is noncompliant by 999 shares)? Are they only allowed to sell the calls?
Carpet_pissr wrote: Fri Jan 29, 2021 6:02 pm
At this point, RH employees are frantically, manually reviewing and placing (or not) all trades.
Seriously, I give them a less than 50% chance to survive this just based on the little I have read so far. Smells like their doom.
They were touting their record high downloads. They are pretty much banking on the next group of suckers not understanding what the hell is going on and just asking, "Is this where I get the STONKS?"
There's a really good interview on CNN with the CEO of Robin Hood. The first 15 seconds when the host grills him about what his company is doing he swallows obviously, then his eyes dart around wildly as he begins the sentence "That's just not the case" Its obvious he's nervous and lying through his teeth. You don't even need to watch the rest of the interview.
LawBeefaroni wrote: Fri Jan 29, 2021 5:37 pmSLV 1 share limit.
List makes no sense. For example, AMC, you can only trade 1 share but 10 options contracts? RH is fucked.
CNBC talking a ton on sliver this morning. Saw PAAS was up $5 pre-market. Called my dad again and advised him against euphoria and/or his normal trading guides again this morning. We'll see. He says he's making money last week, so good for him. I'm sitting out. I"m not smart enough to know what's up. Though it sounds like I should have been finding money and playing.
Going to take the bump in SIVR calls and sell after the open.
I did dig out the physical last night to take a look. Bought some Maple Leafs and Krugerrands last year when Eagles were getting expensive. Nice pile of those three plus the Boeing collection (1.5 oz each).
Melvin Capital, the hedge fund that was wrongfooted by retail traders who drove up shares in GameStop and other companies it had bet against, lost 53 percent in January, according to people familiar with the firm’s results.
The New York-based hedge fund sustained a $4.5 billion fall in its assets from the end of last year to $8 billion, even after a $2.75 billion cash injection from Steve Cohen’s Point72 Asset Management and Ken Griffin’s Citadel.
Melvin became the target of retail traders who coordinated to drive up the share price of GameStop on online message boards such as Reddit, after the firm disclosed its bet against the company in regulatory filings.
The short squeeze on Melvin has been taken by some as a victory over a broken system they see as benefiting the country’s elite, and the trading strategies used to pressure hedge funds have shot from the fringes of the internet to the heart of the zeitgeist.
On Wednesday Melvin said it had exited its bet against GameStop and repositioned its portfolio. The firm moved to reduce risk in its investments following a turbulent start to January when it lost 30 percent in the first three weeks. Melvin’s leverage ratio is at the lowest it has been since the firm’s founding in 2014, said a source familiar with the firm. The news of Melvin’s January performance was first reported by The Wall Street Journal.
LawBeefaroni wrote: Tue Feb 02, 2021 10:21 am
Missed APPH yesterday. Had a buy order in but was too stingy. Could have raised by $1 and got shares. Ah well.
In TPB, SEED. Still trying to get more SLGD below $2.5. Watching VERU.
KOPN is a favorite in the group I'm in but haven't done my own research.
Don't forget to talk about this stuff after 16th when I put aside more cash toward buying VTI on the dip. Really, if I had money I might have tried to gamble on the silver stuff when it came up. Hard to say. I'm feeling the gambling bug watching this crazy volatility but not enough to deviate from the sense is keeping me away.
Watching all my small company stuff that was a value illusion come back down to earth presumably as GME fallout. I'm guessing all those call values will be following soon, but they haven't started moving yet.
Was wishing I had money to get into TAN last week. Now I'm wishing I had money last week to get in to TAN. It'll be a while before I can justify taking a position there.
Really, if I had money I might have tried to gamble on the silver stuff when it came up. Hard to say. I'm feeling the gambling bug watching this crazy volatility but not enough to deviate from the sense is keeping me away.
