January 28, 20215 yr 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
January 28, 20215 yr 27 minutes ago, turnin' two said: This is hilarious. I have been laughing at it since I saw it
January 28, 20215 yr 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.
January 28, 20215 yr 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.
January 28, 20215 yr 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.
January 28, 20215 yr 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.
January 28, 20215 yr 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.
January 28, 20215 yr "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
January 28, 20215 yr 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"
January 28, 20215 yr 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, 20215 yr by StrangeSox
January 28, 20215 yr 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.
January 28, 20215 yr 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.
January 28, 20215 yr 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?
January 28, 20215 yr For the record, this is a conversation between two shitbags, but one of them knows what they are talking about.
January 28, 20215 yr 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.
January 28, 20215 yr 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.
January 28, 20215 yr 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.
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