i suspect those limits only apply to margin accounts which is entirely reasonableStarprintsky wrote: ↑Thu Jan 28, 2021 1:29 amYeah, this is gross btw
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JPMorgan made money that it did not, you would have to say, "deserve" to make
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Re: this thread is for posting matt levine quotes in
I'm willing to entertain the idea that it wasn't. It's awfully coincidental that it got shut down immediately after it started attracting attention from the media.Starprintsky wrote: ↑Thu Jan 28, 2021 1:54 amAre we gonna pretend it wasn't lolShiny Days wrote: ↑Thu Jan 28, 2021 1:40 amthe discord got shut down for "racism"Fry Guy wrote:r/wallstreetbets and the discord went private/got shut down.
I'm not the conspiratorial type either, but I have to take a moment and reflect when almost every article or clip from a major source that I've seen on the Game Stop/WallStreetBets situation has been about one of: 1) possible legal issues, 2) concern that retail investors might lose everything if they keep making bad decisions, 3) the ignorance of these people, 4) meme investing.
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Oh I totally believe that it was shut down now because of this, at the very least because it attracted a bunch more attention, and potentially something more calculated.Dantes wrote: ↑Thu Jan 28, 2021 2:03 am I'm willing to entertain the idea that it wasn't. It's awfully coincidental that it got shut down immediately after it started attracting attention from the media.
I'm not the conspiratorial type either, but I have to take a moment and reflect when almost every article or clip from a major source that I've seen on the Game Stop/WallStreetBets situation has been about one of: 1) possible legal issues, 2) concern that retail investors might lose everything if they keep making bad decisions, 3) the ignorance of these people, 4) meme investing.
I'm just saying, let's not pretend it wasn't full of what we could charitably call "edgy" talk. I googled around after Arti shared that fake article and encountered a bunch of "yeah that's just finance bro".
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That's fair.Starprintsky wrote: ↑Thu Jan 28, 2021 2:12 amOh I totally believe that it was shut down now because of this, at the very least because it attracted a bunch more attention, and potentially something more calculated.Dantes wrote: ↑Thu Jan 28, 2021 2:03 am I'm willing to entertain the idea that it wasn't. It's awfully coincidental that it got shut down immediately after it started attracting attention from the media.
I'm not the conspiratorial type either, but I have to take a moment and reflect when almost every article or clip from a major source that I've seen on the Game Stop/WallStreetBets situation has been about one of: 1) possible legal issues, 2) concern that retail investors might lose everything if they keep making bad decisions, 3) the ignorance of these people, 4) meme investing.
I'm just saying, let's not pretend it wasn't full of what we could charitably call "edgy" talk. I googled around after Arti shared that fake article and encountered a bunch of "yeah that's just finance bro".
I spent some time in r/WallStreetBets yesterday and the language was oddly reminiscent of 4chan's patois (tendies, diamond hand, loss porn, nugs, etc.). I would not be surprised at all if the discord was far worse.
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i think arguing for reason is sort of missing the mark like we can just jump to theyre a private company and they can do whatever they want
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it seems perfectly plausible that they got shut down because the higher profile made discord pay more attention to existing rules violations
but if the real reason is that discord wanted to get rid of a channel where people goad each other into ruining their lives that is also good imo
but if the real reason is that discord wanted to get rid of a channel where people goad each other into ruining their lives that is also good imo
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I finally found the thread for talking about the squeeze.
If we learned anything from the housing bubble it's that the smart money is on Melvin bailout + new regulations that fail to address the years of predatory and impossible shorting.
What I do kind of hope is that this gets Biden to reconsider overturning the OCC move toward protecting financial services access
If we learned anything from the housing bubble it's that the smart money is on Melvin bailout + new regulations that fail to address the years of predatory and impossible shorting.
What I do kind of hope is that this gets Biden to reconsider overturning the OCC move toward protecting financial services access
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Yeah, because our government is too limp dicked to regulate.Shiny Days wrote: ↑Thu Jan 28, 2021 2:19 am i think arguing for reason is sort of missing the mark like we can just jump to theyre a private company and they can do whatever they want
Re: this thread is for posting matt levine quotes in
This is too supportive of the establishmentJeb Bush 2012 wrote: ↑Thu Jan 28, 2021 2:50 am it seems perfectly plausible that they got shut down because the higher profile made discord pay more attention to existing rules violations
but if the real reason is that discord wanted to get rid of a channel where people goad each other into ruining their lives that is also good imo
It's your turn in Cthulhu Wars
It's your turn in Squirrel Wars
It's your turn in Demon Wars
It's your turn in Wall Street Wars
http://devilsbiscuit.com/
It's your turn in Squirrel Wars
It's your turn in Demon Wars
It's your turn in Wall Street Wars
http://devilsbiscuit.com/
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Actually, the second line is ridiculously paternal.Doug wrote: ↑Thu Jan 28, 2021 6:35 pmThis is too supportive of the establishmentJeb Bush 2012 wrote: ↑Thu Jan 28, 2021 2:50 am it seems perfectly plausible that they got shut down because the higher profile made discord pay more attention to existing rules violations
but if the real reason is that discord wanted to get rid of a channel where people goad each other into ruining their lives that is also good imo
Pour like Hemingway's last call.
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twitter accounts i trust say that robinhood is actually just straight up closing people positions now
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does that mean that they're forcing people to sell their options? that probably isn't legal, right?
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they're forcing people to sell their shares. as to whether it's legal uh, well, that's what the lawsuit will decide
Re: this thread is for posting matt levine quotes in
Robin Hood beats up the poor
Just like in Time Bandits
Just like in Time Bandits
It's your turn in Cthulhu Wars
It's your turn in Squirrel Wars
It's your turn in Demon Wars
It's your turn in Wall Street Wars
http://devilsbiscuit.com/
It's your turn in Squirrel Wars
It's your turn in Demon Wars
It's your turn in Wall Street Wars
http://devilsbiscuit.com/
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okay that actually got my attention. that is insane
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you may note that $118 is like the lowest point of the entire day and GME is currently at 248.55
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oh wait, you can buy on margin with robinhood right? so presumably they're only doing this to those accounts?
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i don't actually know if that's on margin or not (the email has no mention of margin) but even if people are trading on margin it's at best extremely rude to close out a well-collateralized position
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and if you do that _and_ bottom-tick the entire day's market you are definitely getting sued
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The establishment backlash is already worse than I imagined it would be
It's your turn in Cthulhu Wars
It's your turn in Squirrel Wars
It's your turn in Demon Wars
It's your turn in Wall Street Wars
http://devilsbiscuit.com/
It's your turn in Squirrel Wars
It's your turn in Demon Wars
It's your turn in Wall Street Wars
http://devilsbiscuit.com/
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What is the "unreasonable risk involved in brokering your position" there? I don't understand their justification.
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"it is ethically questionable to run a service in which people are advised to ruin their lives, and it is better if you voluntarily choose not to do that" strikes me as being at most moderately paternalistic imo
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Ruin their lives
wow, [you]. that all sounds terrible. i hope it gets better for you
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It's not an atypical use of the phrase, that trueJeb Bush 2012 wrote: ↑Thu Jan 28, 2021 8:23 pmif you put all of your money into gamestop and then lose it all when the bubble bursts I think that can be fairly described as "life ruining" yes
wow, [you]. that all sounds terrible. i hope it gets better for you
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thats why im thinking they're buying options on margin
maybe theres a t&c fine print thing that says if you borrow money they reserve the right to sell anything you buy with it
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ok sure. buying the thingsRylinks wrote: ↑Thu Jan 28, 2021 8:37 pmthey are not buying options, as the screenshot says 4500 shares
i googled around and yeah it looks like its accounts that are using margin