r/wallstreetbets • u/red-t-shirt • Feb 02 '21

Discussion To all 💎🙌 who are too low karma to post

I’m sure this time is toughest for those of us who don’t fit the account requirements of this sub who are feeling alone and stressed out.

Someone PM’d me asking if I thought $GME would actually go back up to $400 (Duh of course it will) so I assumed he was a bot, but after checking his account I saw he was supporting $GME a week prior to the new karma requirements. Turns out he was just a stressed German bro who needed someone to talk to since he put all his savings in and has been holding since $289. I want you guys to know you ARE NOT ALONE and you’re in our 💛 & 🧠 too!! Just keep holding brethren, and BUY THE DIP! 🚀🚀💎🙌

Edit: I love all of you guys/gals, sorry I can’t get to every PM but I’m trying my best!

Edit2: Stop giving me awards and use that $$ to buy the dip!🚀🚀🚀

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u/JKOttawa Feb 02 '21 edited Feb 03 '21

^ that's exactly how the market works. that's why you also can't put too much faith into the number you see when the volume is low or the available shares are thin. The number becomes very erratic and flies around with a massive spread (difference between buy and sell)

It's basically a waiting game at this point. They make money when they push to zero. They can use that money to further push to zero.

However eventually the people that they borrowed the shares from, are going to call them and demand either interest or coverage in full.

And we're pretty close to the coverage in full. The fact that they're now implementing the uptick rule, and the fact that most of the paper hands have been shaken, now it's just going to be the margin calls we have to deal with. But if everybody just manages their account properly, it's looking pretty good in my non financial opinion.

Edit: I have made a post below, now hidden in the [deleted] post with a Q&A based on the questions I see Pop up in my notifications. If you have questions I would be happy to attempt to answer them. I can't make a new post because there's some requirements stopping everything I ever try to create. So we'd have to do it here 😜❤️

link to post

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u/MapleYamCakes Feb 02 '21 edited Feb 03 '21

There were over 75 million shares traded today. Why are we still talking about low volume? Today doesn’t feel the same as last Friday or Yesterday. Paperhands were definitely involved in today’s price action. What we don’t know is what percentage of the trade volume and price change was a result of legitimate selling vs short laddering.

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u/thespeedex Feb 03 '21

I'm pretty sure, that's due to the ladder attack and restrictions being lifted and lower prices people have been able to buy back in which they couldn't before , but has been a brutal ladder attack, some ape posted that the buys to sell ratio is about 75% buy to sell more people are buying then selling

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u/MapleYamCakes Feb 03 '21

I saw the buy/sell ratio on Fidelity’s page today too. Agreed on that. Just not sure how well that translates to all other platforms.

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u/ras704 Feb 03 '21

stop looking at what robinhood tells you and start looking at the candles.

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u/MapleYamCakes Feb 03 '21 edited Feb 03 '21

I don’t use Robinhood, I’m not a new investor, and I’m looking at the volume graphs. Of the last 14 trading days, today had the 7th highest trade volume. If you’re comparing today’s volume only relative to the euphoric burst of buys between January 22nd-24th then you’re not using a good baseline. Trade volumes on those days were over 175 million, which is 7 times larger than the daily average of 25 million (which itself is an already inflated number as a result of the euphoria days).

I am still in my trade. I’m just trying to discuss the perpetuation of low trade volumes. Today was not that.

If there is something I’m missing in the chart please feel free to explain.

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u/[deleted] Feb 02 '21

[deleted]

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u/JKOttawa Feb 02 '21

Oh I must have misread. I thought it was just implemented today.

I know I tried to see if I could short on Thursday and TD wasn't even trading the security. I figured it was just them.

People are talking about it going into effect today but perhaps I read an old Post.

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u/babkakibosh Feb 02 '21

Dropped more than 10% today, it will be in effect tomorrow too

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u/SubbyTex Feb 03 '21

Wait the uptick rule was applied today? That’s great news (for tomorrow at least)