exited half my contracts yesterday. try to ride out the rest, this am i came to the realization that i must exit. i consider myself lucky able to exit the balance of my CALLs this morning and still enjoy > 60% profit. it was quite a roller-coaster ride
If the reason they're the enemy is they accept payment for order flow, that wasn't a secret. We even talked about it in this thread. It's somewhat common. The trading of stocks is a convoluted web of banks and big players. If you hate Robinhood for that now, you should've hated them before you signed up, too. You'll also probably hate some of the others you may want to switch to for other reasons, as well.
I'm crying a bit today because one of my stocks sold in the sell-off yesterday and reported great earnings and is up afterhours today (SWKS). I'm guessing it's because Apple is a big customer, too, and AAPL knocked it out of the park yesterday. I had held that thing for months and it went up, but languished a bit behind other semis. Oh well... my loss.
You can hate Elon all you want, and I am not a big fan of him...but his motive in all this is to burn shorts. I believe Melvin capital have been shorting tesla for years. So ya, I don't think he is doing this out of the goodness of his heart but that doesn't mean the shorts shouldn't pay for this.
I’m pretty cynically about Tesla and pretty much think it would have failed without relying on narrative and very questionable accounting tactics. That is the shorts were right in the shorter run but Elon just outlasted them. Elon was pissed about his scheme failing so he’s “anti short”. Shorting a stock isn’t inherently shady, it’s about the motivation.
They interviewed one of Robinhood's CEO's earlier. I haven't been able to find the video, but here's an article : *EDIT* : The video is in the article now. It's worth a watch. Robinhood CEO says it limited buying in GameStop to ‘protect the firm and protect our customers’
All of this is terrible, but the restriction of CTRM and NAKD is the most absurd. Yes they rose, but it wasn’t an out of control situation like some others. CTRM has some good fundamentals as well. I stand by my thinking that it is undervalued. I bought both of these stocks weeks ago, and lamented as they crawled along losing nearly half my investment. Then people get behind them and this happens?? What a crock of ****. It’s all just so bad.
Bro they scanned the discord, wsb, stockwits for trending stocks and put them all on the same list. I want to know where these protections were when GLSI (bio tech) went up from 5 to 158 (2500%)....which btw is now $35. Every day tons of random **** is pumped crap ton of %....and no one cares. But now that GME is taking out a big hedge fund, buddy system has been invoked.
I'm sure some of it has to do with things like pension/retirement funds being intertwined with hedge funds and the like. Like I said, this is more than A -> B relationship... it's A -> X -> T -> B -> J ->K -> B. lol. I don't know if that's the case here, but if major hedge funds and the like collapse, the country could have a huge problem. Now, you may argue then they shouldn't be allowed to do what they do, I can agree with that. There's a lot about shorting I'm not a fan of, but the view that "they do it, we should be able to" is too simplistic. It's right, but still there are consequences. We should change the system to disallow for those consequences. We kind of did that after the Financial Crisis back around 2007/2008. I really want to see how much big players were responsible for most of the trading volume in GME and these others. I hope someone eventually gets busted for that, but I doubt they will. I'm starting to hear chatter about that more now.
Just catching up on this thread. Things are different now. But to answer your question - I like to hold WAY OTM uvxy calls when things feel.... off.
'Payment for Order Flow': Madoff's Earlier Days https://seekingalpha.com/article/112537-payment-for-order-flow-madoffs-earlier-days
, wtf, as if the successful mfg / mkt / sales of the EV has nothing to do with it. dispense w the convenient accusation, short on detail, what questionable accounting tactics? if only you understand enough Accounting to elaborate . do you know of any CEO who isn't anti-short ? certainly not Bill Gates, Steve Jobs, Marc Benioff, etc.
I was listening to the Robinhood CEO and he seemed to be deflecting ARS's questions about what actually caused them to decide to stop trading those tickers. I think it was just a general statement about trying to protect the investors or something. I never thought the answer was satisfactory/substantive.