Market Where?
Striker
And the hedge funds are allegedly trading between themselves in a coordinated way in order to try and collapse the price.
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Redditors gave Wall Street traders an absolute pasting
- Thread starter The Albanian
- Start date
I think MT said this was a lie, but I think you asked a serious question that wasn’t answered - if the platforms stopped people buying stock, but not selling it, who was allowed to sell it to the buyers?
monkeytassle
Striker
Can you post some proof of this?
It's the brokers prerogative to prevent trading. The stock is still openly tradeable.
Market Where?
Striker
He is lying through his teeth. Can see him being a fall guy in this.
No that’s why I said allegedly. It has been alleged. I would guess there is some way of analyzing the trades in the stock which would give you an idea.
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monkeytassle
Striker
Its because its bollocks mate. Its nonsense. You could call another broker, open an account, pre fund the account and trade any if those shares if you so wished.
This sort of crap is why I get annoyed.
Market Where?
Striker
You seem certain - can you post some proof? Was the average trade yesterday a big number of shares or a small number?
monkeytassle
Striker
You first
Market Where?
Striker
I said I don’t have any and caveated my post with alleged. You stated it was bollocks and nonsense.
The total number of shares traded yesterday dropped dramatically from previous days. This at least suggests something restricted trading.
You likely have a lot more access to stuff than me. What was the average number of shares per deal? If a significant block of shares was traded a number of times it would support the allegation that organisations holding short positions were trading between themselves.
Scunny Dan
Midfield
Gentlemen, I have spoken to Mark Baum, and he says you should fuck off.
monkeytassle
Striker
If you take out the 22nd,25th and 26th the average volume was back to normal. 27th volumes were below average (before any restrictions)
If you collude you go to prison for a long time. Firms just don't tolerate this behaviour. Too much at stake.
Agree. I think it’s already tipped heavily enough in their favour to bother with collusion. And despite what people think, the people who run these companies aren’t evil and don’t want to screw over the tiny people. They just want to make money. And they can do it well enough within the rules. I just think the rules are skewed in their favour.
monkeytassle
Striker
If you were a client of robinhood you could have used another broker to buy more stock if you so wished. Similar restrictions to à hedge fund hitting risk limits at their prime broker. They can go to another if they have the cash. There's no skew. The only inconsistency I really hate is something called exchange colocation. But that's just physics.
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Skandhaless
Striker
Interesting to hear about " the man " getting it in the arse .
I hope the original 'owners' of game shop and employees with share options have made an absolute mint. The rest can fuck off , all spivs of different brands .
Shows the markets for what they are a vast myth making confidence trick to extract value without labour.
I hope the original 'owners' of game shop and employees with share options have made an absolute mint. The rest can fuck off , all spivs of different brands .
Shows the markets for what they are a vast myth making confidence trick to extract value without labour.
Well yes and no. As many have said, it’s artificially inflated and will fall back to the right levels at some point.
But agree with the sentiment. There are too many easy ways the market can be manipulated. Shorting is the worst - especially shorting and then talking shit about the company you’ve just shorted in order to make what you bet would happen, happen.
Market Where?
Striker
Can you give some examples of long prison sentences actually being handed out? When did the intolerance of this type of behaviour happen? To give you a heads up I will look for clear examples of collusion and it’s pointless posting any before a certain date if you say rules changed then.
monkeytassle
Striker
The man has resulted in some factory worker getting long at ridiculous valuations. And nobody who owned shares will have made a dime unless able to sell them
So the same as the reddit forum pumping stocks. Same thing
Market Where?
Striker
Taking your last point - you stated above that people in these companies are not evil and don’t want to screw the little people. That sort of behaviour sounds pretty shitty and designed to make money whatever the consequences to others?
monkeytassle
Striker
Yes. Tom Hayes got 14 years. Jay merchant 6.5. Peter Johnson and Jonathan Mathew got 4 each. Alex pabon 2.5.
Raj rajaratnam got 11 for insider trading.
The game changed post 2008
Nah it’s not the same thing. They didn’t talk the company up in order to increase the price. They didn’t say this company is the best in the world and it’s undervalued. If they had, then I agree it’s market abuse. But they didn’t.
If I tell my mates that a company I bank is the best company in the world and they should all get into it, with the sole intention of increasing the price so I can make a profit personally - that’s market abuse. They didn’t do this.
monkeytassle
Striker
Let's fuck the shorts and get rich artificially inflating a worthless stock.
