Bad Crypto Investing Advice

Talk, mix, mingle, have a good time. Just ... be kind.
User avatar
Ophelia's Vengeance
Posts: 338
Joined: Sun Nov 01, 2020 8:53 pm

Re: Bad Crypto Investing Advice

Post by Ophelia's Vengeance »

Up 55K?! And that was your joke play stock!
the band was altogether, yes he was alright, the song went on forever
User avatar
Furious
Posts: 623
Joined: Mon Nov 02, 2020 12:14 am
Contact:

Re: Bad Crypto Investing Advice

Post by Furious »

Ophelia's Vengeance wrote: Fri May 28, 2021 11:00 pm Up 55K?! And that was your joke play stock!
*shrugs*

What's weirder is that i 'found' $7k in my Binance account a few minutes ago and I thought it was close to zero... unless, someone deposited money into it and only OpenSea can do that which means i sold an NFT? EDIT: Nope not a sale. Manna from Heaven I guess :D

Not completely sure thats what happened and i have to slog through OpenSea properly (im typing from my phone atm) but its 2am and my dopamine receptors were already burned out from 9am Friday morning.

I bought 2.7 ETH with the $7k. It'll go up again. 😜

Tuesday June 2nd theres a AMC stockholders vote and the Board (AMC not us) will count all the shares. Every shorted synthetic share has to be repurchased at the price the synthetic shareholders demand. Most likely it'll be a Mexican standoff for a few more weeks (correction: months. Another meetings on July 29th) - - hedge funds already lost $1.25B or more last week on interest owed from the AMC shorted stock. Wew
y u poek bear?
User avatar
Furious
Posts: 623
Joined: Mon Nov 02, 2020 12:14 am
Contact:

Re: Bad Crypto Investing Advice

Post by Furious »

Watching this damned stock for the next month (or two)I'm going to be both cranky and euphoric.

in other words, you'll be behaving like normal

hush :P
y u poek bear?
User avatar
Furious
Posts: 623
Joined: Mon Nov 02, 2020 12:14 am
Contact:

Re: Bad Crypto Investing Advice

Post by Furious »

(translated from Inside Paradeplatz) https://insideparadeplatz.ch/2021/05/28 ... -squeezes/
Text editing is mine.

Mother Of All Short Squeezes

The “Meme” share AMC is shooting through the roof and could cause a quake on the stock exchanges. The SNB is right in the middle.
May 28, 2021

MOASS (Mother Of All Short Squeezes) is a hype that is currently going around the world, although in Switzerland the topic obviously remains under the radar. What's going on here?

The focus is on meme stocks, which are trendy with millennials and fluctuate greatly. After Gamestop it is now about the most shortened and hyped share in the world - the AMC Entertainment.

Who is AMC Entertainment? In short: it is the largest cinema chain in the world, which was already in financial difficulties before the pandemic and has suffered even more as a result of this chronic crisis.

Why? Because hedge funds severely shortened the share for a long time (bet on a falling share price) and wanted to drive the company into bankruptcy. This while the Hedgies made a lot of money with it.

It didn't work out that way. Now the journey goes in the other direction. AMC's course exploded these days. Now the big press is also beginning to take an interest, as a report in the Financial Times shows.

It started in mid-2020 when a trader named Roaringkitty (Wallstreetbets) built a huge community of retail traders on Reddit who are investing heavily in the Gamestop share.

As a result, the shorting of the hedgies suddenly stopped working. The goal was to achieve a shortsqueeze - and that happened in January 2021.

The Gamestop price has shot up from 19 to 350 US dollars, which put the US hedge fund Citron Research and especially Melvin Capital in dire straits.

Melvin had shorted the stock so much that he received funding of $ 2.75 billion from the largest hedge fund in the United States, Citadel LLC.

It didn't help because Melvin apparently had too many shorts on. According to information on Reddit, Melvin had around $20 billion under management before the squeeze and suffered a loss of 49% in the first quarter of 2021.

Since then, their website has been offline.

A short squeeze is a state of emergency on the stock market in which the price of a share rises extremely quickly. This is possible with stocks in which short sellers have previously speculated on a large scale with the help of short sales on falling prices.

If enough investors and investors recognize that there are a large number of short positions, that is, the share is shorted, they can drive up their price by purposefully buying the share.

In this way, they can force the short sellers to withdraw their bets on the fall so as not to lose any money. In German, experts also speak of the fact that shortsellers have to "smooth out" their short sales.

Naked short selling is an illegal practice almost everywhere, while shorts are regulated differently on trading venues around the world.

Typically, traders need to borrow a stock or find it can be borrowed before shorting it. Despite this requirement, short selling pressure can arise on a share, which can be greater than the tradable shares on the market.

The key question now is: Will AMC be the mother of all shortsqueezes?

Maybe, maybe not. After the gamestop squeeze happened, investors learned that you can keep driving the price up by buying and holding the stock.

This is because the hedge funds have to cover their short positions at some point. All it takes is enough retail traders to buy.

Hodl'n (Hold the Line), nerves of steel, patience - that's the motto.

This is exactly the tactic that over 3 million retail traders around the world are currently using with AMC Entertainment shares, while the largest US hedge fund Citadel and others are in sheer panic.

It should be mentioned that Citadel is the largest market maker in the USA, through which most of the trades are carried out.

The CEO of AMC, Adam Aron, who of course has to repay the debts of AMC, wanted to hold a general meeting on May 4th, at which he had requested an additional 500 million shares in addition to the existing 450 million shares.

Since around 80% of the shares are in the hands of retail traders and they did not agree with the so-called dilution (profit dilution due to the new titles), he removed this item from the agenda, which led to even greater excitement among the hedgies .

From the point of view of small investors, this is a clever move by CEO Aron, who stands 100% behind all “apes” (retail traders) and speaks to them regularly. Finally, he canceled the planned shareholders' meeting in May and postponed it to the end of July.

Currently, all real stocks (not naked shorts) are counted, and on June 2nd it will be known how many naked shorts are in roughly real terms.

Rumor has it in the US that it should be between 1 and 2 billion pieces, which would be a catastrophe for the hedge funds.

If the retail traders keep buying and do not let themselves be unsettled by the massive "negative" interference from media such as CNBC, Motley Fool, Fox News as well as moderators such as Jim Cramer or hedge fund manager Rich Greenfield and hold their shares (HODL) , it is possible that the share, as in the VW Shortqueeze 2008 (which hit $1,000 per share), will also skyrocket. (Note that I had to get this article from Germany. The US media on this story is pozzed beyond belief. -Furi)

This is because the hedgies have to cover their short positions. The longer the retail traders hold their stocks instead of selling them during the squeeze, the higher the price can rise.

At Reddit, where the “Apes” exchange ideas, the mood was such that a few months ago they spoke of a possible floor of 1,000 dollars.

Due to the many phenomenal reports from brilliant analysts in the forum, there is now talk of a floor of 10,000 or even 100,000 dollars per share.

This all sounds completely crazy, but it is not impossible if the investors do not sell too early during a short squeeze.

This is exactly what the Hedgies in the USA are terrified of. For several weeks now, bots have been flooding in, which are intended to unsettle investors and encourage them to sell - via Reddit, Twitter and Youtube.

Hardly ever seen on this scale. The trouble is that this doesn't work because the community holds together so well that the numerous "ladder attacks" have no consequences.

Now the SEC (Securities and Exchange Commission) comes into play with its new chairman, Gary Gensler, who had closely observed the game stop process and is now introducing the first changes to the rules of the game for the hedgies, which should make shorting much more difficult .

At the recent conference hearing, Gensler mentioned that he wanted to create more fairness and transparency for small investors. This is roughly the opposite of what the hedge funds want.

Who are the investors at AMC? Now it's getting exciting: Over 80% of the shares belong to retail traders worldwide, as already described. Large institutional investors such as Blackrock, Fidelity, Vanguard and many more are now also increasing their positions.

You would probably not do this if you wanted to put "on a dead cat".

If you look at the above list of institutional investors, you will be amazed: The Swiss National Bank is also invested with 195,641 shares.

If you look again closely you can see that the SNB increased its position by 50% on May 7th.

Apparently, as it is described by bright minds on Reddit, Credit Suisse is also involved - but as one of the big short sellers (because this is allowed in Switzerland).

That will be dangerous, because should this short squeeze actually happen, then it could go badly in the eye for CS under certain circumstances.

The Archegos case is not far back. That cost the CS a few francs, now the US judiciary is supposed to be investigating, as US media just reported. The CS did not want to comment on this.

What's next? Nobody knows, but the mood in the USA is so “hot” that individual retail traders are now renting aircraft with huge banners to advertise AMC - in New York, Chicago and California.
y u poek bear?
User avatar
Furious
Posts: 623
Joined: Mon Nov 02, 2020 12:14 am
Contact:

Re: Bad Crypto Investing Advice

Post by Furious »

stay there STAY RIGHT THERE 2021-06-06_10-45-45.jpg
stay there STAY RIGHT THERE 2021-06-06_10-45-45.jpg (4.81 KiB) Viewed 12689 times

Still piddling around mid 30s and this does not upset me one bit.

pleez o pleez don't quindruple before I shift my moneys back


And right after I say that this story breaks *facepalm*

https://redpilled.ca/breaking-el-salvad ... an-dollar/
y u poek bear?
User avatar
Furious
Posts: 623
Joined: Mon Nov 02, 2020 12:14 am
Contact:

Re: Bad Crypto Investing Advice

Post by Furious »

moneymoneymoney 2021-06-22_6-49-44.jpg
moneymoneymoney 2021-06-22_6-49-44.jpg (5.12 KiB) Viewed 2329 times

...

*baits hook with AMC*

*casts line into the Money Sea*

*nibbles on cracker*

*the line moves on its own*


jaws-shaw-as-quint.gif
jaws-shaw-as-quint.gif (168.29 KiB) Viewed 2329 times
y u poek bear?
User avatar
Furious
Posts: 623
Joined: Mon Nov 02, 2020 12:14 am
Contact:

Re: Bad Crypto Investing Advice

Post by Furious »

Steady...

dhands.gif
dhands.gif (224.95 KiB) Viewed 2292 times
y u poek bear?
User avatar
wanderinginmn
Posts: 80
Joined: Thu Oct 29, 2020 3:43 am

Re: Bad Crypto Investing Advice

Post by wanderinginmn »

It is going to burn. China is the canary in the old school coal mine.
-I.
User avatar
Furious
Posts: 623
Joined: Mon Nov 02, 2020 12:14 am
Contact:

Re: Bad Crypto Investing Advice

Post by Furious »

wanderinginmn wrote: Sun Jul 04, 2021 4:39 am It is going to burn. China is the canary in the old school coal mine.
*waterballoons Ivan*

I said STEADY...
y u poek bear?
User avatar
Furious
Posts: 623
Joined: Mon Nov 02, 2020 12:14 am
Contact:

Re: Bad Crypto Investing Advice

Post by Furious »

Y'all still holding steady?

GOOD NOW HOLD SOME MORE BUT i would suggest any so-so stocks you're holding sell them now and start plunking them into crypto. When the stock market tanks, crypto will too a little but it'll recover MUCH faster.
y u poek bear?
Post Reply