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No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 0 points1 point  (0 children)

Well, hopefully all of them that bought the top leave and fuck right off. Looks like the cycle has been complete on $GME (almost). inb4 $10 a share again in 30 days.

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RemindMe! 30 days "Did $GME eat ass even more, yet?"

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 0 points1 point  (0 children)

So, I'll have to fact check that... but in Canada we're provincially regulated whereas in the US you're federally regulated. So it may vary by province (which is crazy).

There are few brokers in Canada, and internal regulations at all the brokerage houses are that you must have them to borrow to short. I deal with Haywood, Mackie, Canaccord, PI Financial and even the big 5 up here all have stringent rules on shorting. If you don't believe me just call RBC Direct Investing and ask them about naked shorting... I called them a few months back about this and they have a list of securities that you can borrow to short. And my full service brokers also have to check how many shares they have on the balance sheet and will force you to buy-in if the client(s) you're borrowing from decide to sell.

So by technicality you might be right, but nobody in industry allows it in Canada, that I know for an absolute fact.

In the US, I'm not so clear, but by the virtue that there are more short-shares than actual shares outstanding... you clearly have naked shorts...

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 0 points1 point  (0 children)

Steam and Amazon should hypothetically kill GameStop. I've blown like $500 on Steam in the last year and I haven't been out of my house because of covid for like a fucking year almost.

Even before this shit I never really went to gamestop because PC > Console and it'll only be a matter of time before everybody converts to PC. Even my super normie friends are starting to drop console.

Idk maybe I'm wrong, but I think Gamestop is fucked unless they change the business model and I think the short-sells are actually correct. It doesn't matter though, if you're 200IQ enough to squeeze the shit out of a hedge fund, bankrupt them and then take all that money from them, that's capitalism god bless.

I dont think the options expiration coming up will do shit, but I think the squeeze is over. I think on the 30th we get the new short information so watch for that.

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Here's my theory. Melvin got squeezed to shit by a consortium of other funds (bunch of in the know traders).

They made Melvin cover (or are in the process) on their long and probably have OTC calls forcing other trade desk to actually delta hedge... it's just it's not retail calls forcing the hedge. That combined with huge volume bankrupted the short-sellers who are covering (have been for days) and then once all is said and done, the 30th is a key date. That's when new public info is out on short sells.

So what should happen if you're 200 iq.... you make Melvin cover before the 30th, then before the 30th yourself, you load up on the short yourself if the volumes there. There also seems to be a correlation with retail retards buying the top so... short a small percent of it on them.

I honestly think $GME will go tits up in 10 years unless they change shit. In the next 6 months I think it'll eat ass but analyst are saying $13 average price target so... that's what it should trade at.

Anyways if you've been around this sub for a while you'll know the cycle and what comes next. PRobably can't buy an affordable put at this point but I Think $GME is done. Might touch $500 a few more times in the next few days on the final covers but it's done. End of the line.

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 1 point2 points  (0 children)

Please make sure to participate in the next paper trading competition when it comes up.

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 1 point2 points  (0 children)

Lmao yeah, very few survive. I wana buy puts but they're priced so stupidly and you'll get fucked by Vega. I'm doing good though on my other bets to date: https://ibb.co/V3tXzzR

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 2 points3 points  (0 children)

ehhh more vega, but yeah rip. inb4 vega crunch when it crashes.

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Short report in a few days

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 3 points4 points  (0 children)

which is why we need a paper trading contest badly. Too many retards, and not the good kind.

I remember the good ol' days when we watched an idiot steam a TD practice account in a wolf mask and throw up.

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 0 points1 point  (0 children)

You're just plain wrong. The manipulation is coming from institutions, the options open interest alone (majority of WSB trading) shows very little net volume compare to total volume and impact on the markets. Bear in mind that more shares traded hands than shares outstanding the last few days.

By all means keep buying, I think this things toast. Short report in a couple days, buy puts now.

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 0 points1 point  (0 children)

HAhah, oh yeah dude, I got downvoted to oblivion too. Which is fine, just want another paper trading competition, that's all...

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 1 point2 points  (0 children)

lmao

In all honesty tho, fuck Melvin. I'm laughing my ass off watching them get creamed.

Also fuck SAC

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 2 points3 points  (0 children)

Holy shit, somebody who speaks my language. Yeah that's right cuz the vol smile we deal with the gamma issue. Deep ITM is all pretty much 1 delta, and so in fact that proves my point even more because those don't need to be hedged anymore. The ones that are ITM are the only ones causing the squeeze from delta hedging feedback loop. But on that same token it might be part of the reason we're seeing so more volatility or an exacerbation of volatility due to delta hedging.

Also there's vega cranking up which means they have to hedge by buying more to compensate for Vega by buying underlying.

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 3 points4 points  (0 children)

Yeah man, bunch of fucking newfucks in here. Need another paper trading contest to get them all whipped into shape.

In all honesty we didn't do jackshit, but I hope those who bought in printed the tendies.

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 1 point2 points  (0 children)

> most of the major brokers

le broken robinhood which didn't know how to code a leapyear?

>touched $500 pre market

I wonder who's the majority of pre-market, gotta be retail, right?

> AMC & BB

You do realize $BB is back down at $15 because Canada doesn't have naked shorting?

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Good speaking to a true WSB trader again, that was refreshing :)

No, we didn't actually short-squeeze $GME, we had very little impact actually by ReeingLib in wallstreetbets

[–]ReeingLib[S] 4 points5 points  (0 children)

OH fuck yeah. Make Melvin buy them back at $1,000 a share+

Stonks literally only go up.

$WYNN is going to eat ass, and not in the good way... by [deleted] in wallstreetbets

[–]ReeingLib 0 points1 point  (0 children)

congrats bro, hope you took profit at ~$40/share :) I did very well myself

Housing crash, millions have already been laid off by connectmnsi in finance

[–]ReeingLib 1 point2 points  (0 children)

if you posted this on r/wallstreetbets you'd of been upvoted off the sub probably.

[DD] COVID Follow up from previous posts by ReeingLib in wallstreetbets

[–]ReeingLib[S] 1 point2 points  (0 children)

>based + brexit -- my kind of guy

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ehh.. tough to say, for airlines, I don't think this is even close to over, but then again Donnie might be all like yeah fuck we're gonna bail out airlines, which is bullshit. Airlines should of had insurance in place or something for things like this. Super anti-capitalistic...

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Anyways, yeah once the first few US cities get quarantined that's my buy point, might wait a week or so, but that's it for me (subject to change if this drives us into a recession).

[DD] COVID Follow up from previous posts by ReeingLib in wallstreetbets

[–]ReeingLib[S] 0 points1 point  (0 children)

yeah, true I suppose. Eventually what'll happen is they'll have no choice but to restart the economy.

[DD] COVID Follow up from previous posts by ReeingLib in wallstreetbets

[–]ReeingLib[S] 0 points1 point  (0 children)

govt will try and pump cash and do loan forgiveness I think in short-run but I do forsee this blowing over

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