Institutions and large spec's still have access to buy and sell at will. They don't use retail trading platforms.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Volkswagon, brings back a memory or two. It looked like a floor was being put in around that time, but we went down even further.
From the TSPtalk archives 10/28/2008 below. With a total of 178 positions, Birtchtee was running his own ETF:
Birchtree's Account TalkPatience is virtuous. Look at what the short squeeze did to Volkswagon today. There are billions (16 - 18) short shares in our market - they will eventually be forced to cover and when they do.... I just bought another six positions for a total of 178 - if I'm wrong the pain will continue, but if I'm right I will really, really be right. And while I wait I pull dividends.
Keeping an eye on GME and AMC.
Both show the same weird spike between 2:05 and 2:10.
GME -51% today
AMC -44%
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Mark Cuban Tells WallStreetBets to Hold ‘If You Can Afford to’
https://finance.yahoo.com/news/mark-...173347985.html
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Cuban, it sure helps when you can get in on the IPO of the next big thing.
Agree on this below. I don't think anyone has ever learned anything about money without taking some losses. They don't have to be huge, lose everything type losses, but those good hits added up are trading tuition payments.
On advice for those who lost money: “I learned some expensive lessons when I first started trading stocks. It was painful. But I tried to learn what I got right and wrong."
Some food for thought. When someone announces on message boards to be strong and hold your shares, it means somebody is looking for bag holders. They were looking for any uptick to hopefully break even. "Just if it would go up 10 more dollars, I'll sell...."
The three idiots referenced below, however, are not serfs and see this as nothing more than an online arcade. They can lose $1B and shrug it off. Losing $50,000 on some speculation is a nickel slot machine to them. Yet people still look up to them.
I give this guy credit for being honest since the media has done nothing but glorify this mess.“They are leading sheep to slaughter,” said Joe Saluzzi, partner at Themis Trading. Prominent personalities like Cuban, Musk and Palihapitiya “are saying hold the line”, he added. “People are believing them. The retail folks don’t understand . . . It is gambling and it is being influenced and encouraged by people that should know better.”
https://www.ft.com/content/04e6c524-...a-eb52c1e76048Michael, a corporate accountant who asked that his last name not be used, said he moved his $69,000 Vanguard retirement account into GameStop shares when they fell to $230 per share on Monday. Yet as the shares continued to tumble, he offloaded his holding on Tuesday, crystallising a $42,000 loss.
“I built that . . . balance over a three-and-a-half-year period,” he said. “And in a moment of intense hype, in a moment of weakness for me, I messed it all up in a matter of a day.” The 27-year-old said he believes he can bounce back from this loss by the time he wants to retire. “But I should’ve known better.”
Reddit crowd was manipulating each other, no doubt. But what percentage of shares were they holding?
Were they responsible for retail brokers shutting down trading?
Were they responsible for still allowing professionals to trade at will?
Again, if what you typed is what you think, how can you say reddit was behind that manipulation?
Steelsaving, give it a rest. What is it, you're upset the revolution didn't happen? You bought one of these stocks or SLV and got stuck holding the bag?
Sure, some stocks were heavily shorted and big money smelled blood in the water, but what sparked Gamestop and AMC panic?
Read up on a thing called order flow, particularly in the case of Robinhood and how they can offer free trades. Robinhood is the last stop on the line. If you're concerned about order priority, go to a real broker like Fidelity which does not sell order flow. Fidelity is probably not being front run by Citadel. Better yet, you could pay some $40k a year for a license to trade direct on the NYSE and not have to rely on anybody.
I also suggest you read up on the difference between what I'll refer to as Wall Street and individual discount brokerage speculators. Institutions make their own market. When Steve Cohen wants to buy, his traders don't use intermediaries, they just do it via their market making arm. You aren't even seeing the same bid/ask as Citadel even if you have Level II quotes enabled. David Swenson attributed his years of outperformance at Yale to having direct access to low-liquid markets that others needed intermediaries to access.
Boom! Up 100% today.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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