Quin Posted January 28, 2021 Share Posted January 28, 2021 2 minutes ago, StrangeSox said: womp Quote Link to comment Share on other sites More sharing options...
turnin' two Posted January 28, 2021 Share Posted January 28, 2021 7 hours ago, Kyyle23 said: This is hilarious. Quote Link to comment Share on other sites More sharing options...
bmags Posted January 28, 2021 Share Posted January 28, 2021 looks like good ole fashioned etrade still executes them. Quote Link to comment Share on other sites More sharing options...
Quin Posted January 28, 2021 Share Posted January 28, 2021 Well, this is going to get super interesting. Quote Link to comment Share on other sites More sharing options...
Soxbadger Posted January 28, 2021 Share Posted January 28, 2021 Ted Cruz has also agreed that it should be investigated. Quote Link to comment Share on other sites More sharing options...
mqr Posted January 28, 2021 Share Posted January 28, 2021 6 minutes ago, Soxbadger said: Ted Cruz has also agreed that it should be investigated. This is the third or fourth horseman of the apocalypse Quote Link to comment Share on other sites More sharing options...
Kyyle23 Posted January 28, 2021 Share Posted January 28, 2021 27 minutes ago, turnin' two said: This is hilarious. I have been laughing at it since I saw it Quote Link to comment Share on other sites More sharing options...
Soxbadger Posted January 28, 2021 Share Posted January 28, 2021 AMC over $10.5, seems the swarm is fighting back. Quote Link to comment Share on other sites More sharing options...
Soxbadger Posted January 28, 2021 Share Posted January 28, 2021 And just like that its down to $9.5 Quote Link to comment Share on other sites More sharing options...
ChiliIrishHammock24 Posted January 28, 2021 Share Posted January 28, 2021 Etrade just allowed me to buy more stock of NOK at $4.88 Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 28, 2021 Share Posted January 28, 2021 1 hour ago, Soxbadger said: I dont have TD, but from what I can tell it seems they are making certain types of trades (options etc) more difficult and have higher requirements. Many places already have these restrictions about margins etc because they theoretically could leave the brokerage liable if things went hectic. Maybe someone here has a TD account and can give more information, but if that is true, it is a lot different than a blanket restriction on buys for certain stocks. By restricting buys they are eliminating support positions which makes a drastic sell off much more likely. I fully expect to lose all the money that I put in, but it was to show solidarity. Nobody cares if a hedge fund or short seller tanks my stock position. So for today, Ill let them sweat a little. The brokerage is also on the hook if John Q Reddit goes belly up and can't pay his losses because he doesn't understand what he is doing, so putting 100% cash restrictions on these underliers is absolutely warranted and it is something with history behind this. I happened in 08-09, it happened in 01, and it will happen again. Quote Link to comment Share on other sites More sharing options...
turnin' two Posted January 28, 2021 Share Posted January 28, 2021 21 minutes ago, Kyyle23 said: I have been laughing at it since I saw it Every time it slips into my consciousness I laugh. Can't help it. Quote Link to comment Share on other sites More sharing options...
Soxbadger Posted January 28, 2021 Share Posted January 28, 2021 1 minute ago, southsider2k5 said: The brokerage is also on the hook if John Q Reddit goes belly up and can't pay his losses because he doesn't understand what he is doing, so putting 100% cash restrictions on these underliers is absolutely warranted and it is something with history behind this. I happened in 08-09, it happened in 01, and it will happen again. Im actually shocked that they didnt have this in place to begin with. Quote Link to comment Share on other sites More sharing options...
StrangeSox Posted January 28, 2021 Share Posted January 28, 2021 Is it true that RH and possibly others were allowing you to sell GME but not buy it today? Seems like pretty blatant market manipulation. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 28, 2021 Share Posted January 28, 2021 57 minutes ago, Soxbadger said: Im actually shocked that they didnt have this in place to begin with. It isn't something used everyday. Typically ordinary rules are enough, such as normal margin requirements and short sale rules. But in a spot where are seeing actual coordination, it isn't a normal time. Quote Link to comment Share on other sites More sharing options...
bmags Posted January 28, 2021 Share Posted January 28, 2021 "Citadel made a deal with Robinhood to short their position and then close all purchases" 100000 likes 50000 RTs The unprecedented volatility made it increasingly expensive to settle 4 likes 10 rts Quote Link to comment Share on other sites More sharing options...
bmags Posted January 28, 2021 Share Posted January 28, 2021 1 hour ago, southsider2k5 said: The brokerage is also on the hook if John Q Reddit goes belly up and can't pay his losses because he doesn't understand what he is doing, so putting 100% cash restrictions on these underliers is absolutely warranted and it is something with history behind this. I happened in 08-09, it happened in 01, and it will happen again. good newsletter this morning from joe weisenthal calling this an "upcrash" Quote Link to comment Share on other sites More sharing options...
StrangeSox Posted January 28, 2021 Share Posted January 28, 2021 (edited) Why should we take WeBull's CEO at his word, though? e: and how do you square that with RH's "we're doing this to protect YOU" message? Edited January 28, 2021 by StrangeSox Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 28, 2021 Share Posted January 28, 2021 That also makes sense. None of these new overnight shops are clearing their trades. They aren't the custodians, so they aren't taking those ultimate risks if something blows up. Trust me when I saw that the SEC isn't just looking at the trades, they are looking at the health of the custodians, and if Robinhood is causing problems for their clearing firm, their clearing firm is going to shut the problem down. So essentially what is happening in my eyes is the clearing firms are probably increasing margins on RH, who is then realizing they can't be profitable or pass the costs on to the traders, so instead they are just shutting things down. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 28, 2021 Share Posted January 28, 2021 2 minutes ago, bmags said: good newsletter this morning from joe weisenthal calling this an "upcrash" I can get with it. I mean options pricing is a University of Chicago Nobel laureate formula (Black Schoals), of which volatility is a huge component. If the market place reevaluates what the odds and possibilities of vol are, and finds they need to be higher, the price of options everywhere will go up. That will server as a deterrent to anyone wanting to trade these, as now they need to risk more capital to engage in their strategies. 1 Quote Link to comment Share on other sites More sharing options...
Quin Posted January 28, 2021 Share Posted January 28, 2021 1 hour ago, StrangeSox said: Why should we take WeBull's CEO at his word, though? e: and how do you square that with RH's "we're doing this to protect YOU" message? Well, WeBull reopened GME stock, so maybe? Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 28, 2021 Share Posted January 28, 2021 For the record, this is a conversation between two shitbags, but one of them knows what they are talking about. Quote Link to comment Share on other sites More sharing options...
ron883 Posted January 28, 2021 Share Posted January 28, 2021 12 minutes ago, southsider2k5 said: For the record, this is a conversation between two shitbags, but one of them knows what they are talking about. Portnoy's barstool fund has raised 33m for small businesses. He's brash, but he has become the people's champ and rehabilitated his image. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 28, 2021 Share Posted January 28, 2021 1 minute ago, ron883 said: Portnoy's barstool fund has raised 33m for small businesses. He's brash, but he has become the people's champ and rehabilitated his image. Throwing other people's money at things doesn't change who you are. 1 Quote Link to comment Share on other sites More sharing options...
bigruss Posted January 28, 2021 Share Posted January 28, 2021 24 minutes ago, southsider2k5 said: Throwing other people's money at things doesn't change who you are. I'm pretty sure he put in quite a bit to kick it off too, and he's been taking a lot of time to build partners with that fund. I know what you're saying but trying to give the guy a bit of credit for some good. Quote Link to comment Share on other sites More sharing options...
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