GME

[Kane]

Don't get me wrong - I'm all for this. Just trying to game out issues.

[exploited]

My dudes... People are gonna hold. Wall Street has seriously f**k up trying to pull that bullshit today. Wowzas.

[John Galt]

Citadel probably was able to cut billions in loses by the shit they pulled today, getting out of naked shorts. Maybe picked up others but they probably crunched some numbers and determined killing robinhood was worth it. And robinhood signed it's own death warrant today

Meanwhile a bunch of retards holding stock they like are still going to topple huge players

[Saz]

I agree with Portnoy all these people should go to prison. RH basically was undercapitalised, they could not make collateral at DTCC for trades with this sort of volatility, so they shut them down. Now query whether someone like citadel knows this the whole time and is banking on volatility triggering a retail halt at the small brokers most people use. The egregious is not being undercapitalised, its not informing your investors of these limitations and doing f**k nothing to mitigate them earlier this week despite raging volatility. Robinhood kind of f**k me over though by stopping options trading, big big gains on all those puts but no volume to sell at the real prices. Got out with my money and am still holding a few mar/aprl puts on GME and AMC, but at comically low strike so you would have to be dumb to buy, even if market crashes. But its ridiculous, they stopped all my potential buyers from buying. I filed a FINRA complaint and opened an account with fidelity and I'm going to open a brokerage at chase as well. Robinhood cutting off trades because it can't come up with $1b, go to chase they have 200bn in T1 capital you will not be cutoff.

It's for the best anyway. I just use my usual broker schwab where, unlike the funny money I throw in robinhood, I'm able to day trade (in GME!!) and its hard not to make money with this sort of volatility.

Also, I hear you Winchester, but over the last 5-6 years I'm looking at my investments and most of my money is in index trackers, which over the 5 years have done fine but really nothing impressive. Vast majority of my returns have come from crypto and WSB trades (mostly TSLA), despite never having more than 5% of my portfolio in this stuff (not BTC or ETH though, I count those as legit assets now). Never play with more than you can lose, but at 10,000% returns on some of these cheap options it can pay to punt

I think there will be good money doing this going forward if retail participation increases. Short term though I suspect this will lead to a broad market correction.

[Winchester]

[Saz]

[Saz]

And like I tell ym parents, by YOU I mean boomers who are not actually you. Im sorry you have to be a part of the generation that destroyed this country, but we are aware a lot of you are not at fault and can see things clearer than much of your cohort.

Also totally separate topic but this whole robinhood thing is going to give BTC and blockchain a good boost. I remember working with DTCC as a junior lawyer and its a cluster f**k 1970s operation. Literally took multiple days for a team fo high paid lawyers to get a foreign listed bond into DTCC to trade in the US. What? Really looking forward to the near future when we have GME coin or SPY coin, a token evidencing an underlying security which can be traded like any other crypto (f**k government will never allow this dems just pass more regulations and republicans only cut them for rich people). Get rid of this T+2 bullshit, stop restricting me from day trading with under 25k, stop closing the f**k market at 4pm. This whole escapade is quickly teaching everyone of my generation that the markets are blatantly rigged and not fit for purpose. People are realising that all these "protections" for the sake of retail investors don't protect them at all, and actually prohibit them from executing trading strategies larger players use with great success.

[Winchester]

I ain't a boomer saz, just sayin, lol.

I'm not cashing out in 5 years either. I'll keep 10 years expenses in bonds rest in stock for the duration. Unless shit really hits the fan the most conservative my portfolio will be is 60% Stock 40% Bonds, currently at 65/35. Rebalancing last march turned out pretty sweet.

[Saz]

I know, but Leon Cooperman won't take my calls so, you will have to stand in for them for now. I'm about 70/30 as well, Equities and Crypto, and that's in large part because I can't get crypto in 401k or Roth. I'll lose every dollar I have before I buy a f**k 0.9% 10 year bond.

[Winchester]

Yeah, bond returns are dismal right now, but they're for safety. They do make good ballast and you have something to sell if equities take a big dive and vice versa if interest rates go up again. Like I said I know nothing about what the market holds in store, so I diversify. I also hold about 30% of my equities in exUSA indexes, they've been dismal for quite a while too compared to the US market, but they seem like such a good value in comparison.