It just all got shut down, the big boys didn’t like getting it like they dish it out, so some servers and some forums that discuss trading (as this forum discusses homesteading) were yanked off the internet so the common man couldn’t participate.

what happened:

some big heavy investors got together and decided to short sell the stock of GameStop. It is a dying business venture.

What short selling means is you borrow money, and sell stock in a company you don’t actually own.

this drives the price down, because the heavy selling tells others to get out of the stock as well.

when the stock falls low enough, the short sellers buy back the stocks (they never actually owned) and pocket the money that the stock value had dropped. They sold high and bought low on borrowed money.

some small imvestors, like me and you type folk, caught on to this through a web forum. And with the easy access to trading over the internet these days, all these common little folk started playing the same stocks to the big short sellers.

well, once you start short selling, you can’t stop until it works.....

and as long as people keep playing the stocks, the price won’t fall, it actually went up. A lot.

this messed up the big guys really badly. I hear they lost 3 billion dollars.

I hear today it was all shut down, and it won’t be reported accurately by the media. The forum being used was closed down, several apps stopped working, and it will be reported in the main stream media that some wayward Internet forum stirred up trouble but the bad actions have been corrected.

This was a giant hole in the typical stock manipulatioN done by the big outfits.

it should be illegal to short sell a stock you don’t own. That is clearly manipulating the market. But, it is the games the big outfits play to gather your money for themselves.

and we let it happen.

Paul

 

It just all got shut down, the big boys didn’t like getting it like they dish it out, so some servers and some forums that discuss trading (as this forum discusses homesteading) were yanked off the internet so the common man couldn’t participate.

what happened:

some big heavy investors got together and decided to short sell the stock of GameStop. It is a dying business venture.

What short selling means is you borrow money, and sell stock in a company you don’t actually own.

this drives the price down, because the heavy selling tells others to get out of the stock as well.

when the stock falls low enough, the short sellers buy back the stocks (they never actually owned) and pocket the money that the stock value had dropped. They sold high and bought low on borrowed money.

some small imvestors, like me and you type folk, caught on to this through a web forum. And with the easy access to trading over the internet these days, all these common little folk started playing the same stocks to the big short sellers.

well, once you start short selling, you can’t stop until it works.....

and as long as people keep playing the stocks, the price won’t fall, it actually went up. A lot.

this messed up the big guys really badly. I hear they lost 3 billion dollars.

I hear today it was all shut down, and it won’t be reported accurately by the media. The forum being used was closed down, several apps stopped working, and it will be reported in the main stream media that some wayward Internet forum stirred up trouble but the bad actions have been corrected.

This was a giant hole in the typical stock manipulatioN done by the big outfits.

it should be illegal to short sell a stock you don’t own. That is clearly manipulating the market. But, it is the games the big outfits play to gather your money for themselves.

and we let it happen.

Paul

I am not sure it is over. It may be with this security and I am not here to give investment advice as this isn't the place and I am not the person. It is just funny because my better half asked Monday night if there is any news that she should know about and this is the only thing that I mentioned. I have always told her when she hears something about short selling or naked calls because she asks about my focus on financial markets that goes from utter neglect to intense focus, and my response to short selling and naked calls is a comparison to picking up nickels in front of a steam roller. But, that is for the individual investor. Many institutional investors either reduce their risk or make their month from them or their career.

This, in my humble opinion, has changed markets here. It may end with this one nearly insolvent and Blockbuster remake stock. But, it is going to happen again no matter what forums they have tried to shut down and restrictions some online brokers have placed on trading.

For the record, I no longer have any position short or long in this particular security...right now.

 

I don't understand: "What short selling means is you borrow money, and sell stock in a company you don’t actually own."

How can they sell stock that they don't own?

Do they really sell it, or simply act as brokers who recommend that the real owners sell their stock?

And why do they need to borrow money if they are selling stock?

Obviously, I'm ignorant about the market and how it works.

 

I don't understand: "What short selling means is you borrow money, and sell stock in a company you don’t actually own."

How can they sell stock that they don't own?

Do they really sell it, or simply act as brokers who recommend that the real owners sell their stock?

And why do they need to borrow money if they are selling stock?

Obviously, I'm ignorant about the market and how it works.

Shorting a stock is basically borrowing it from someone that is long a stock in a margin account that makes it available to borrow. You eventually have to buy it back.

Shorting stocks.

 

Was just reading about this, not surprised they were shut down by the big boys. Ya know the big corps that got all that gov. bailout money.

 

It's way above my small brain! I only deal in real estate. I can lay my hands on it.

 

Am I a bad person...When I was watching the news of all this going down with a big smile on my face....

do I hear a fiddle...?

 

I think it also involved other poorly performing companies like AMC. I thought it was pretty clever. A way for the little guys to pull one over on the big boys. But will not be allowed much longer. Look for new regulations restricting how much stock little guys can buy over a period of time or something similar.

 

It spread to other widely shorted stocks today when GME went parabolic. This will end in tears of joy and sorrow. But, it is as you accurately stated a sign to those that have manipulated markets in certain securities for some time that they at least have to glance over their shoulders once in a while.

 

They are worried that if a large hedge fund fails it could cause an avalanche of others to fail and turn into a huge financial mess. I see some are already saying the hedge funds may need a bailout to prop them up. That figures. Does anyone think the little guys would get a bailout if they failed?

 

I don't ever short stocks, I can't imagine the mental condition that make a person wish for ill will, and lowering stock performance...That said, when I see a deal, I jump on it. My son and I picked up a few hundred shares of AMC, and GME this afternoon, in after hours trading (not open to all traders), hoping it will go up bigly tomorrow when some of the other brokerage houses finally allow trading at opening bell.

 

"I didn't hear one person on TV complaining about Wall Street trying to crush GameStop."
@CVPayne
says the "whining by Wall Street" is making him "sick" during the GameStop stock shenanigans.

 

In all fairness, this happened because of Texas Newest "Maverick" billionaire Elon Musk. When he talks, people listen. He said some offhand thing about how good Gamestop was and people started buying.

Was it on purpose?

Probably

Why?

Because there are people out there he doesnt like. Maybe even the ones that shorted the stock.

It created a bubble for the stock that could not be sustained anyway. But there are others that have direct control instead of organic control. Namely, the Federal Reserve and many others. Of course they will protect their own. They always have and they always will.

I suspect, that was Elon's main gripe. They tried to shut him down last year if any here remember. They made his stock lose almost half it's worth and called him crazy and unstable. I guess he is crazy. A year later he is now the richest man in the world. Passed Bezos a few weeks ago.

If you cant join 'em....beat 'em.

This is solely my opinion and does not reflect any intimate knowledge of Elon or any of his entities.

 

I like the if you can't join them beat them! I've never been part of the in crowd!!!

 

I trade a lot. I have yet to get involved. I'm a small time trader. I do fairly well at it. Enough to pocket $90K/yr.

I sold a biz at age 40 and retired (I am 50 now). Trading gives me something to do as a stay at home retirement job. My trading lets me buy my "toys" (tractors, saw mills, cars, trucks, etc ). without having to finance or touch my long term retirement funds/investments. Again, I am 50 an retired at age 40 when I sold my business. I do a lot of work around our place back in the woods but not enough to keep me busy 80 hrs/week...so I trade stocks.

 

GameStop shares soared yet again to as high as around $500 in Thursday’s premarket, as the Reddit-driven retail momentum continued to heat up. The brick-and-mortar video game retailer’s stock reversed losses in overnight trading, surging over 45% at one stage. The move followed a more than 130% rally on Wednesday in heavy volume, pushing its week-to-date gains to 466%. The stock was worth about $40 just a week ago. It was worth around $6 a few months ago.

 

My kid has been following this for a few days. Apparently it was an investing/stock market subreddit that started it with some insider trading information and Elon jumped on board because he approved of the shennanigans. The subreddit has since been shut down (by Reddit, not by the people on the subreddit) and the kid tells me they've been seeing signs that somehow it will all be blamed on white supremacists and domestic terrorists (which is not where the kid saw this coming from) by the powers that be. We'll see.

Some of the "girls" I went to school with were Facebooking about the money they made on Gamestop and were buying AMC stocks yesterday morning because that was the next intended target. They mentioned thanking their kids, so I guess mine isn't the only one watching this happen at the source.

 

My son told me about it a few days before it made the news.

 

These kids nowadays know things

 

This thing has really blown up big.

it shows the games and unfair ness of the stock market.

they are trying very hard to brush it aside and downplay it. Nbcmsn and linked media is really trying very hard to deflect and downplay and blame ‘just a few’ terrorist type folk for this. Youtube also is not allowing uploading of real reports on this.

don’t believe that the edited stuff.

stock market is big money, and like all big money, it’s been arigged game for some time.

selling bonds you don’t own to drive down a stocks value, and then cashing in on the lowers value is a common thing. That alone should tell us it’s not a fair setup.

the big fish are at a crossroads now. If they squash this and do a major move to eliminate the little people getting in on their game it will be too big of news to hide. People will lose faith in stocks and the people they prey upon will go away, the stocks will crash.

if they don’t do something to protect them self’s from the common man, these types of attacks can go on an will pull down the big hedge funds one by one. No self respecting big fish would allow that to happen.

either way that have a big problem. They opened up the stock market to little fry, they assumed they would get to pick up a lot of money from the uneducated common man.

they left some opening where the common man can use the same games against the big fry, they didn’t get their ducks in a row in time.

oops.

now, how do they put the toothpaste back in the tube? They will try, but how messy does this get in the next month, how much cover up can they afford?

this is actually a big deal.

the structure of Wall Street is in the balance. Not saying anything will fall, but going forward something will change, and a lot of big fry are very afraid right now.

stuff could happen.

 

Seems the big guys are a bit nervous.

Trading app Robinhood blocks users from buying GameStop, other high-flying stocks

The trading app Robinhood is restricting trading in certain securities because of the recent volatility in a number of names.

www.foxbusiness.com

 

They will force the stock short to work out after all. The trading apps only allow selling the stock now, can’t buy that stock any more.

well, if you can only sell, who will buy? Only a few big fish allowed to buy, so the stock will fall back to where the big fish wanted it and all will be fine. Notice they did not freeze the stock, they only froze buying the stock. One way street, we are in control......

nothing to see here, move along, nothing ever even happened. Everything worked just the way we planned it, er I mean the way it should.

Paul

 

Some brokers have shown, quite clearly, who controls them and who their customers really are and it isn't the individual investor that trades through them. We shall see if it works out like they think.

 

One irony of this episode is that I have found myself on the same side of an issue as AOC, Robert Reich, Ted Lieu, Jon Stewart and a bunch of other people that I wouldn't agree with about well....anything.

 

Me too. That was hard to admit.

 

Not so hard really. People are more similar than they are different.

 

Trust me. It was hard. Common ground is uncommon now

 

It will take a while for this to go away. It's pretty evident what they are about. I expect the news to quit taking about it but most people don't forget.

 

 

That's the thing about stamping down dissent, it always springs up elsewhere. The real manipulators are typically those shorting stocks. You short, then do a media blitz about how it is overvalued and basically siphon money from the company and common investors that way. At least, that seems like the way things work currently. I'm hearing this time the big boys may have taken a bath to the tune of 100 billion or so at this point but I'm completely clueless on this type of thing so I could be mistaken.

 

You understand it very well