Trading the stockmarket (NO Referrals)

Trusty · 27 Jan 2021 at 11:43

G-MAN2004 said:
Guy on CNBC just said Melvin are out, which dropped the premarket price massively. How is this legal when they're clearly not out?

You got some data to make the claim they are not out?

its more probably that they are out rather than still holding. These guys don't make the money they have by holding onto losers for very long

Melvin will be bankrupt though, but its also an LLC, so the individuals tied to this fund wont be affected.

The people this will hurt now are retail holders, buying stock which is worth 10/20 dollars max

dirtychinchilla · 27 Jan 2021 at 11:50

Sounds like it might be best to get out ASAP. The pre-market is dropping rapidly.

WSB seem to think that the news that Melvin is out is false and that they don't actually comment on their stock holdings. No idea how true that is.

Trusty · 27 Jan 2021 at 11:56

dirtychinchilla said:
WSB seem to think that the news that Melvin is out is false and that they don't actually comment on their stock holdings. No idea how true that is.

They do, they have to file 13f every quarter.

https://fintel.io/i/melvin-capital-management-lp

dirtychinchilla · 27 Jan 2021 at 11:57

Trusty said:
They do, they have to file 13f every quarter.

https://fintel.io/i/melvin-capital-management-lp

Sorry, I meant they don't comment on a daily basis or for the news.

Trusty · 27 Jan 2021 at 11:58

dirtychinchilla said:
Sorry, I meant they don't comment on a daily basis or for the news.

No, but this is a highly unusual situation. CNBC are trying to help innocent people getting burnt here.

Its not good for anyone to see people buying stock at 10x fair value because of some meme's.

Redditors broke a small hedge fund. Great, thats the win it seems, if you can call it that

Skillmister · 27 Jan 2021 at 11:59

Truly criminal if they haven't actually covered

Skillmister · 27 Jan 2021 at 12:01

https://youtu.be/yS4yPsmaDDQ

Citron covered in the 90s (so he claims). Tasty loss there

Martynt74 · 27 Jan 2021 at 12:10

Assume most Americans will be asleep still now, so assume this will drop like lead on open as people rush to close.

Interesting times indeed.

I do struggle to understand who's doing all this buying/selling in such huge qauntities out of market hours though. If it's only the larger investment houses that have access to do so.

mid_gen · 27 Jan 2021 at 12:12

A lot of red around today. Strange times. A big collapse is coming....don't fancy trying to call it so I'm just sitting on the fence 50% cash.

Hyburnate · 27 Jan 2021 at 12:17

I'm not so sure it's going to crash. Just have a suspicion

Skillmister · 27 Jan 2021 at 12:18

Martynt74 said:
Assume most Americans will be asleep still now, so assume this will drop like lead on open as people rush to close.

Maybe not now it's heading back up. That looked like a quick panic which happened yesterday and Monday. They're just getting bigger each time until one of them will head back to ground level and not return I guess

27m new shorts yesterday by the looks of it. Whoever gets in last is going to make some serious money

Hyburnate · 27 Jan 2021 at 12:19

Yeah this isn't over, this is people seeing the ATH and going I'm done... paper hands whatever you want to say.

I'm sticking more in maybe another 3 shares at market open and going from there.

Minusorange · 27 Jan 2021 at 12:19

G-MAN2004 said:
Guy on CNBC just said Melvin are out, which dropped the premarket price massively. How is this legal when they're clearly not out?

Even if they did get out, they're not the only ones holding the shorts

Hyburnate · 27 Jan 2021 at 12:23

The scumbags are exactly that, they'll want to try to not lose billions so they'll play every card in the book including if that means paying people in the media to run whatever story they want. Call me a conspiracy theorist but weirder things have happened!

dirtychinchilla · 27 Jan 2021 at 12:28

I’m just going to watch it. If GME reaches $300 I’m out. If it starts to drop further, I might pull out at $150

regulus · 27 Jan 2021 at 12:32

Decidedim.

Martynt74 said:
Gutted, i had some AMC from Monday, but i sold at what was a high point for yesterday, thinking i'd timed it well. Looks like it's up 125% just in pre market so you're already £4k in profit!

My issue is that my T212 was intended as my "fun" platform where i stuck a few hundred quid and went for higher risk/short term trades, it's done well because of these shares, but i can't quite decide whether to keep removing profits to move over to Fidelity for longer term holdings, or whether to just aim for the same trades with higher stakes.

It's a battle between sensible and "To the moon "

Doesn't help that T212 still haven't allocated a recent fund transfer from the 14th

Yep. Decent bit of profit there on that premarket figures. Could drop a 100% during trading though

Skillmister · 27 Jan 2021 at 12:35

https://twitter.com/noob_tradR/status/1354394702422786050?s=20

Melvin only 10% of float so even if they have covered there's some big players out there still to do so

Caveat: no date on it so they could have had more

sanaxe1 · 27 Jan 2021 at 12:35

Ask your self if you built up a 12 billion empire which was your life's work and you were about to lose everything over the course of 1week would you try every dirty trick in the book, call every friend in media and wall street to try and help you out. That's what this guy is doing but the entire market is against them hence the rocket ship rises. They are just trying to get the stock down before Friday to shorten their losses as they know when Friday comes and they get called they are buggered which will caus the gamma squeeze.

regulus · 27 Jan 2021 at 12:41

Think I'm going to go in with 5k on GME.

If my AMC and BB premarkets hold for the day then I'll more than make 5k for the day so no harm if I lose that.

Well, it's either GME or new speakers for the home cinema.

tlrBeta · 27 Jan 2021 at 12:46

If GME dips, I may join - hundreds, not thousands I must add.

However, all big IF's there.