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THE GAMESTOP GAME HAS BEEN STOPPED.....THE REVERSE HOTEL CALIFORNIA 1/29/21

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  I'm giving Jimbo, our new chief splainer, the lead again. Jimbo, take it away! 

6 hours ago, Jimbo said:

THE GAMESTOP GAME HAS BEEN STOPPED.....THE REVERSE HOTEL CALIFORNIA

As I predicted trading in the most shorted stocks restricted.

But not entirely suspended.

No....rather trading has been "Slanted".

i.e. the Redditers can only sell but they cannot buy!!!!!!!!!

(A sort of reverse hotel California - in the song you can check in but never leave...well Redditors can leave (sell the stock) but they can never check in (buy the stock)).

So if they cannot buy then who is on the other side of the trade when they sell, who are the buyers??????

Who is in the "Hotel California" position?????????

Answer (drum roll please):

The long short hedge funds who need to buy back the stock to close out their underwater short positions.

The rules of the game have been flipped 180 degrees so that the Redditers no longer occupy the privileged "Buy" position, the long short funds do!!!

A beautiful example of the current wall street power dynamic at work.

 

 

 

 

 

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Fact check: "True." Started accumulating various miner shares beginning ~2001. There was no GDX or GDXJ yet, so I assembled a basket of them on my own.  We bought our house from our landlady in A

Jorma I think there are two separate issues here: 1/ Issue One...getting out of the wrecked motor vehicle that are their shorts. This requires buying back stock....sooner or later. Where are

Funny thing is we have a local GME, a junior explorer .. took off like a rocket temporarily when the newbies heard the news of US GME and didn't read the fine print .. went into a trading halt and then the selling set in 😶

image.png.766059f5463cf68e8e10263dd0bbaaa4.png

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I bought some SILJ (junior silver miners ETF) yesterday. Sold it about a half hour before the close.  I'm looking at another possible entry and exit today. I like the 3 minute bars on this one. Currently on the downside. 

 

silj.jpg

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It was another outrageous week for me: turned over $7k buying and selling, slowly increasing my portfolio by taking back a portion of capital on the winners and using it to take a stake in others.

 

Jimi, was that you who had shares in 100 small companies on the last big run?  And paid for your house with the proceeds?

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2 hours ago, DrStool said:

I bought some SILJ (junior silver miners ETF) yesterday. Sold it about a half hour before the close.  I'm looking at another possible entry and exit today. I like the 3 minute bars on this one. Currently on the downside. 

 

silj.jpg

So much for that. Doesn't look like they'll let me back in.  Gap breakout through 15.50 area. 

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