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Topic: In other news ...

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Mdot21

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Re: In other news ...
« Reply #2016 on: January 29, 2021, 11:44:14 AM »

WhiskeyM

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Re: In other news ...
« Reply #2017 on: January 29, 2021, 11:44:59 AM »
It'll be interesting to see how the SEC responds.  We may see implementation of market stops if a stock moves too far in a short period of time, which we already have for the larger market.

That would be a poor move on the SECs part.

It would only serve the interests of the hedge funds that are causing problems in the first place.

Which would show that the SEC serves the interests of the wealthy, and the entire system really is rigged.

The SEC needs to cap short selling.  GME was shorted 140%.  It's ridiculous.

Cincydawg

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Re: In other news ...
« Reply #2018 on: January 29, 2021, 11:48:21 AM »
We already have rules on the overall markets.

Under market rules, circuit breakers kick in at three thresholds:
  • Level 1: A drop of 7% from the prior day's closing price of the S&P 500 triggers a 15-minute trading halt. Trading is not halted if the drop occurs at or after 3:25 p.m. ET.
  • Level 2: A drop of 13% triggers a 15-minute halt. Trading is not halted if the drop occurs at or after 3:25 p.m. ET.
  • Level 3: A drop of 20% triggers a halt for the rest of the trading day, and trading resumes the following day.
These automatic trading halts are aimed at preventing the market from entering a free fall, and Monday's halt did its job, with the major indexes coming off their lows once trading resumed. However, the indexes fell again later in the day, with the Dow Jones Industrial Average down more than 2,000 points, or nearly 8%.



FearlessF

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Re: In other news ...
« Reply #2019 on: January 29, 2021, 11:56:05 AM »
That would be a poor move on the SECs part.

It would only serve the interests of the hedge funds that are causing problems in the first place.

Which would show that the SEC serves the interests of the wealthy, and the entire system really is rigged.

The SEC needs to cap short selling.  GME was shorted 140%.  It's ridiculous.
this is exactly what I expect
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

Cincydawg

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Re: In other news ...
« Reply #2020 on: January 29, 2021, 11:57:33 AM »
I would be OK with a halt in trading a single stock if the price moves by over say 30% in a day, something like the exchange halts.

Companies can do this themselves of course.  It happens before some major announcement.


Mdot21

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Re: In other news ...
« Reply #2021 on: January 29, 2021, 11:59:26 AM »
That would be a poor move on the SECs part.

It would only serve the interests of the hedge funds that are causing problems in the first place.

Which would show that the SEC serves the interests of the wealthy, and the entire system really is rigged.

The SEC needs to cap short selling.  GME was shorted 140%.  It's ridiculous.
Great point. Why the EFF does this keep getting lost in the discussion? Wall Street hedge funds broke the f###ng law and shorted stocks that don't even exist! Naked shorting is suppose to be illegal!

SEC needs to actually ya know, do it's job. They should be investigating these hedge funds and all of their market manipulation and naked shorting. They won't though. Why? That entire sector of the government has been captured by Wall Street.

No sector of society is as powerful as Wall Street. They own the politicians on both sides of the aisles.

Cincydawg

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Re: In other news ...
« Reply #2022 on: January 29, 2021, 12:05:27 PM »
I agree whoever shorted past 100% should be "investigated".  I don't know the rules on that.

stocks - How can GameStop be short 140% of float? - Personal Finance & Money Stack Exchange
stocks - How can GameStop be short 140% of float? - Personal Finance & Money Stack Exchange

Cincydawg

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Re: In other news ...
« Reply #2023 on: January 29, 2021, 12:09:21 PM »

Mdot21

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Re: In other news ...
« Reply #2024 on: January 29, 2021, 12:11:55 PM »
Glad that people are finally waking up. At the beginning of the coronavirus pandemic, hedge fund billionaire asswipe Bill Ackman went on CNBC and told millions of their viewers the world is ending, said everything is going to zero, hell is coming- we're all going to die- all while shorting the hell out of the market- and made billions in the process- in a matter of a week. Not a damn thing happened to him. These hedge fund dickwads go on CNBC and Bloomberg 24/7 and do this kind of shit constantly- and nothing happens to them. Ever. 

Cincydawg

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Re: In other news ...
« Reply #2025 on: January 29, 2021, 12:14:30 PM »
How Bill Ackman Turned $27 Million Into $2.6 Billion During the Coronavirus Crisis | Barron's
How Bill Ackman Turned $27 Million Into $2.6 Billion During the Coronavirus Crisis | Barron's


Mdot21

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Re: In other news ...
« Reply #2026 on: January 29, 2021, 12:16:18 PM »
GameStop and AMC stocks soar on another day of wild trading in heavily shorted companies - MarketWatch

It appears the 140% figure is artificial.
What? No, it's not. The hedge funds shorted more shares than actually exist. That's how you get to 140%. They borrowed all that shares that actually exist 1.4 times. This is suppose to be illegal.

Mdot21

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Re: In other news ...
« Reply #2027 on: January 29, 2021, 12:19:29 PM »
How Bill Ackman Turned $27 Million Into $2.6 Billion During the Coronavirus Crisis | Barron's
How Bill Ackman Turned $27 Million Into $2.6 Billion During the Coronavirus Crisis | Barron's
How? The asshole literally went on TV and told millions of viewers they were literally all going to die and the world is over. He said hey I'm the smartest guy in the room- listen to me- you're all going to die- hell is coming- the world is over- all while he was shorting the hell out of everything. He deliberately tried to incite panic selling- full well knowing he was banking on that happening. And what do you think happened? It worked. The guy should've been prosecuted and fined by the SEC. NOTHING happened to him.

Cincydawg

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Re: In other news ...
« Reply #2028 on: January 29, 2021, 12:24:20 PM »
The float is the number of shares actually available for trading. Float is calculated by subtracting closely held shares -- owned by insiders, employees, the company's Employee Stock Ownership Plan or other major long-term shareholders -- from the total shares outstanding. At the right price, of course, the closely held shares may start to float. Funny how that works.



OrangeAfroMan

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Re: In other news ...
« Reply #2029 on: January 29, 2021, 12:25:44 PM »
I'd guess a presidential state of the union address on the radio back in John Boy Walton's time (Great depression & WWII) would reach the same number and percentage of the population

one person sharing his opinion
Okay, but a presidential address was (hopefully) to be informative - keeping people abreast of things, right?  And that person was elected and (again, hopefully) earned their way to that position.

I guess walking that fine line between being cool for the teens, sexy for the men, yet safe for families/kids is some type of earned credit (pop stars with tens of millions of followers).  
“The Swamp is where Gators live.  We feel comfortable there, but we hope our opponents feel tentative. A swamp is hot and sticky and can be dangerous." - Steve Spurrier

 

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