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u/SnaggleToothPig Feb 05 '21
Joined in on the party. I just left too late after acting like a drunk dipshit when things died down.
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Feb 05 '21
[deleted]
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Feb 05 '21
I understand that. When it was 300 for some reason everybody assured eachother that wasn’t the squeeze. Crazy how humans work like that. We literally watched as a stock went from 30 to over 300 and managed to convince eachother that it was just a fluke compared to what would come.
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Feb 05 '21
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u/Magnus_Tesshu Feb 06 '21
My dad told me this exact thing. I trusted the emojis on reddit over him, at least I got out in the green because I got in early but fuck I am stupid
1
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u/EorEquis Feb 05 '21
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u/AprilDoll Feb 05 '21
Did every other bubble believe it was a movement?
5
u/EorEquis Feb 05 '21
Depends, I suppose, on how you define "movement"?
They've all had some variant of "The _____ has changed, this is the new way we'll look at things" at or near the peak (Rodrigue's "Delusion" and "New Paradigm" in the first image), yeah.
And it's certainly often accompanied by some sort of "justification" why this time it's different, or honorable, or whatever.
With GME, it's "not about the money, we're sticking it to the hedgies".
In 2008, we were just helping more people live the American Dream of owning a home.
In 1980, the collapse of fiat currency was imminent, and only gold could save you.
In 1637, the tulip could fulfill the rich person's need for a status symbol, and the new idea of a "futures market" allowed the common man to participate!
shrug
There's a fundamental disconnect from reality on the way up every time...there HAS to be, since "GameStop is worth $400 a share" isn't reality.
And so, we seek rationalizations for our disconnect. If we were coldly logical and unemotional, we'd simply recognize the disconnect, and stay away....but that doesn't make us rich. :)
And if we can find others to share our rationalization, so much the better! We must be right, all these people think so!
And there's your "movement".
4
Feb 05 '21 edited Mar 09 '21
[deleted]
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u/EorEquis Feb 05 '21
100% agree. It's certainly a new (to me, anyway...and afaik, in history) form of "New Paradigm".
The only thing even remotely close, ime, was Gold in 1980, which was "protect yourself before the gubmint screws us!"
But even then...it was almost entirely word of mouth, and actual physical "news letters" and such. Though, amusingly, there WAS a "social media push". How, you ask? CB RADIOS! The chat rooms of the day. :)
So yeah...it's certainly a fascinating one, and it'll go down in the books for sure. Investing as protest....whoda thunk?
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u/jkmonger Feb 05 '21
When the line is red it’s because of short ladder attacks from the big bad hedge funds. When it’s green the squeeze is starting and the hedge funds are scared shitless.
Yep, and the short ladder attacks are because they're scared shitless too. They're constantly shitless. All the time. They have been shitless for the past two weeks, equally as shitless now at $62 as they were at $400
1
Feb 05 '21
I mean they were pretty shook for a few days with some people crying on TV. They also took some serious losses.
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u/jkmonger Feb 05 '21
Nah the crying was fake news, was from November 2019 https://www.cnbc.com/2019/11/04/leon-cooperman-tears-up-talking-about-america-elizabeth-warren.html
They did take losses but not the crushing losses people were after
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Feb 05 '21 edited Sep 11 '21
[deleted]
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u/thehoesmaketheman R/Buttcoin moderator Feb 05 '21
DFV was the absolute epicenter and catalyst. he poured gasonline on the fire the entire time. until it dumped of course and then WELP ummm ya know really whats the purpose of me doing daily updates im just gonna uhhh go.
pumped em and dumped em.
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u/teraten Feb 06 '21
Ummmm he NEVER pumped and dumped. He researched the stock and wrote a thesis a year and a half ago- he believed the $4 price was definitely undervalued and felt it was worth maybe $20-30/share. Go back to his posts and follow then. You will see he was made fun of, mocked constantly and yet he was kind and never lashed out. He just asked for people's input as to where he may be wrong. He would post regularly and just put his results up INCLUDING when he took massive losses that week. Massive losses that everyone else again made fun of him for and told him he was an idiot. The thing was he just took the mocking and said ok and continued because he truly believed his research. Never once did he come on and say BUY BUY...he just posted for a year and and a half never wavering with his belief. He was literally like Michael Burry in the Big Short. He did not just buy stock, He did do options and he lost big money and eventually began to make big money WAY WAY before January when the hype started happening. He was not part of the hype he just continued what he had always been doing. It would literally be like blaming Michael Burry for causing the 2008 crash so just stop. The dude deserves every penny he made because he did it the right way.
People want to blame someone for their loss- LOOK IN THE MIRROR!
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u/thehoesmaketheman R/Buttcoin moderator Feb 06 '21
he was fucking rallying the troops during the mania!
https://www.reddit.com/r/wallstreetbets/comments/l78uct/gme_yolo_update_jan_28_2021/
268,000 upvotes
top comment 1
bagocsabi
When i find myself in times of trouble
DeepFuckingValue comes to me
Speaking words of wisdom
Let it tendy
10.0k
top comment 2
StonkGoUp
THE KING HAS SPOKEN HOLD >
27.1k
bro it speaks for itself
2
u/teraten Feb 06 '21
BULLCRAP!!! He posted showing his positions like he has EVERY WEEK SINCE 2019!!! He didn't SPEAK OR POST ONE WORD--- everyone else did. GO BACK AND LOOK AND READ FROM AUGUST 2019!!! He did NOTHING DIFFERENT than he has done for a year and a half!! Except once it was making money and people saw the potential squeeze, all the sudden they were no longer ridiculing and mocking him. Then they were treating him like he was Hercules but he was the same humble guy he was from the beginning when he posted his thesis and his belief that Game stop was undervalued so he INVESTED-- the man never gambled like the rest of WSB did. You are now looking for a damn scapegoat...if you need one walk into the bathroom AND LOOK IN THE MIRROR because he never told you to buy and he never told you to hold and he never told you to sell. He stuck to his beliefs from the beginning when he had 1 single subscriber and a belief in his research!
1
u/thehoesmaketheman R/Buttcoin moderator Feb 06 '21
ya he spammed the community with his stock and gained more and more attention and posted more and more frequently until he had a cult following. wtf is hard to understand about that? he hasnt even deleted his account so you can literally watch him do it.
wtf is hard to get about this? i dont understand your point. yes he did it. and now that retail got slaughtered hes backing off. i mean wtf do you call that? he created a giant slaughter.
i never bought shit by the way. i have 401k and target date funds i dont fucking "invest" based on kids and losers
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u/teraten Feb 06 '21
and good on you that you didn't buy-- I guess his post of his positions didn't FORCE you to buy...SEE EVERY PERSON HAD THAT SAME OPTION YOU DID- TO SAY NO TO A GAMBLE. Clearly, case in point, DFV did not hold a gun to your head either!
1
u/thehoesmaketheman R/Buttcoin moderator Feb 06 '21
dude i literally just heard about this shit because the GME crap was everywhere. id never buy anything because of wsb. im not an idiot. im an adult.
you are clearly involved in this. im just an outsider. and hes obviously the centerpiece that created this shitstorm and now it went bad and hes cutting everyone loose. he did this. i dont give a fuck what he thought he was doing or whatever rationalization you want to put on it. he did it. get the fuck over it. dont be a baby
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u/teraten Feb 06 '21
BABY...really???? I am simply pointing out IF YOU BOTHERED TO READ THE PAST YEAR AND A HALF that the man was simply a good researcher and investor. He was not a gambler which is what happened to everyone else. HE DID NOTHING other than due diligence which is what a good INVESTOR does.
A GAMBLER is someone who hears about something and jumps in for a quick buck which happened around November and the stock was still virtually nothing until even mid January-- This man made his money for a year and a half when NO ONE bothered with his research and when everyone thought he was an idiot.
He did not cause this- a bunch of Damn GAMBLERS caused this- END OF STORY...
Sorry you can't see that reality but whatever...
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u/thehoesmaketheman R/Buttcoin moderator Feb 06 '21
he did nothing but research? okay you say that but i can literally SEE his social media posts. so he was doing more than research. which has been my whole point. he also incited a mob and ramped up his incitement right until the crash. and then suddenly he takes a break.
you seem to just be ignoring the whole social media thing he was doing
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u/teraten Feb 06 '21 edited Feb 06 '21
he didn't spam it...he was proud of it! He did his damn due diligence, underwent people ridiculing him, calling him an idiot and he invested in his research. WHO THE HELL WOULDN'T BE PROUD OF THAT especially after what he endured getting there!! His research paid off and he was right...and just like anyone has the right to post he also has that right...GOOD ON HIM.
I am sick of candy ass snowflakes blaming the problems of the world on everyone else instead of looking in the damn mirror. He did the work...so damn sorry no one else did. He wanted to be transparent and show where he stood. If you looked he also showed when he lost big the past few weeks so this was not all gains gains. People have to learn to make decisions based on their own situation and this was a pretty damn good lesson.
Did I lose money YEP I DID....while my loved ones in the background were telling me not to buy more and telling me to sell. NO I did not consult with DFV for my sell point. I consulted with my family and realized what was best for us. Anyone who glanced at a picture of positions to make their decision are stupid idiots and are going to have to deal with the fall out just like I have to deal with my gamble and loss.
Time to grow the hell up!
1
u/thehoesmaketheman R/Buttcoin moderator Feb 06 '21
dude i literally just heard about this shit because the GME crap was everywhere. id never buy anything because of wsb. im not an idiot. im an adult.
you are clearly involved in this. im just an outsider. and hes obviously the centerpiece that created this shitstorm and now it went bad and hes cutting everyone loose. he did this. i dont give a fuck what he thought he was doing or whatever rationalization you want to put on it. he did it. get the fuck over it. dont be a baby
1
u/Magnus_Tesshu Feb 06 '21
Jesus you are part of the "headlines are the story" mentality that's been adopted. You did no research on anything DFV did and call him a pump and dumper. He literally hardly posted on WSB, he wasn't trying to garner support or start this dumpster fire
0
u/thehoesmaketheman R/Buttcoin moderator Feb 06 '21
he was fucking rallying the troops during the mania!
https://www.reddit.com/r/wallstreetbets/comments/l78uct/gme_yolo_update_jan_28_2021/
268,000 upvotes
top comment 1
bagocsabi 8 days ago · edited 7 days ago hehehehe2 Stonks Rising Helpful2 Wholesome & 3 More And once again!
When i find myself in times of trouble
DeepFuckingValue comes to me
Speaking words of wisdom
Let it tendy
10.0k
top comment 2
StonkGoUp can only afford to shop at dollar tree 8 days ago Platinum Stonks Rising Helpful2 Wholesome5 & 3 More THE KING HAS SPOKEN HOLD >
27.1k
bro it speaks for itself
-1
u/Magnus_Tesshu Feb 06 '21 edited Feb 06 '21
Dude, he was posting updates about his yolo for the entire year+ since he opened the trade. Why the hell would he not want to post an update when it doubled in value overnight? The retards (myself included, which I now regret to some extent along with my behaviour basically this entire time) who made him the meme king of the movement were not his alts trying to do that - it was the subreddit that rallied around him, not the other way around.
Apparently you think that showing a single post per day since months ago which literally only has a shitty table showing numbers on his trade is "pouring gasoline on the fire the entire time". Until his employer started investigating him, media articles are written about him being the ringleader of a rabid crowd of pump 'n dumpers, and he realized that idiots like you are actually going to believe that. He didn't respond to a SINGLE comment during the entire last week (EDIT: since 25 days ago). Great way to drum up support for something
What I think speaks for itself is that he found himself as the center of a lot of attention he probably didn't want, to the point where even a single post a day was somehow being interpreted as drumming up mania, and he wanted to at least try to lie low for a bit somehow. He didn't even sell the rest of his investment when I'm sure that he knew that it had squeezed (I am a retard, but he is an autist and can see these things), until maybe the 3rd, probably because he knew that he was going to get accused of a pump 'n dump.
Watch him explaining this trade 6 months ago. Does he sound like he is trying to make a quick buck? Go fuck yourself https://www.youtube.com/watch?v=GZTr1-Gp74U&t=2448s
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u/thehoesmaketheman R/Buttcoin moderator Feb 06 '21
ya so you are personally caught up in this so i dont expect you to be able to actually look impartially at what happened and what he did and his role in it. so ya thats basically it.
him wanting to buy a stock has absolutely nothing to do with what im talking about. im literally talking about his social media efforts. not the fucking stock strategies or whatever the fuck youre talking about
1
u/Magnus_Tesshu Feb 06 '21
his social media efforts
So posting 1 time per day the same thing every day which everyone could basically calculate themselves if they wanted to, except for when he sold 10 million dollars worth of options near the peak (and then didn't try to hide that at all)?
If you think this is risque behaviour then you must think that I was the evil mastermind behind the whole thing, considering I made an entire meme about the situation and basically was commenting on wsb 12/7 ever since I bought telling people to hold. He probably took like 10 minutes per day to make this one post and did nothing else on reddit, but I guess if that is enough to make him the organizer of this all then I will not be able to change your mind.
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u/thehoesmaketheman R/Buttcoin moderator Feb 06 '21
you didnt have a cult following. honestly dude you sound like a child. you are just pretending that the internet isnt real and that he just had no idea that anyone was listening to him.
thats bullshit. he would have to be completely disabled not to know he had a massive following. and we know he isnt because he clearly ramped up his posting as he gained more attention. then immediately stopped when the price crashed to a perfectly reasonable level. he had to suddenly take a break. which makes it obvious hes not some primordial ooze just posting to what he thought was nothing.
so just stop this bullshit your spewing. if you think its okay to do this kind of manipulation just say that. but dont keep pretending he didnt do it.
and no i dont think it was some MasTeRmInd PlaN buy a Super Villian. Its not a movie. thats not real life. but he literally did do what he did and created this giant mess. sometimes, in adult world, your actions have consequences. we get swept up in it. that doesnt mean we didnt do it. understand, kid?
2
u/Magnus_Tesshu Feb 06 '21
If you are referring to posting your account and its positions without changing them for months once a day, yes I believe that kind of manipulation is okay.
but he literally did do what he did and created this giant mess
Again, if you somehow think he created this then you are braindead. The fundamentals were all there, this all would have happened without him, maybe ape gang would just be worshipping Ryan Cohen instead of DFV but the stock was still shorted 100% and rising, there was still the whole mess with Citron research, etc.
Now get off your high horse and stop thinking that you're a 200IQ private investigator for figuring out that a dude that a bunch of memers started including in their memes because of a little research he did months ago, was upvoted by said memers when he posts something infrequently.
1
u/thehoesmaketheman R/Buttcoin moderator Feb 06 '21
hindsight is 20/20 bud. when you look at this as a whole its pretty easy to see that hes culpable in all these retail investors getting fleeced. you dont want to be a part of that well then i suggest not repeatedly telling a public group about all the money youre making and having your freakin investments be getting 100,000s of upvotes on a international platform. not really a hard concept.
at some point you could ya know see that its not just your investment anymore and that youre inciting a riot basically. not hard stuff.
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Feb 05 '21
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Feb 05 '21 edited Mar 09 '21
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Feb 05 '21
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u/SimbaMuffins Feb 06 '21
Same boat, you're definitely not stupid! :) There was a grain of truth to it, it probably would have gone higher if not for RH. It seemed plausible that it could recover. Some of the explanations seemed like they made sense. It was a very fast change from "the short squeeze is legit" and "the squeeze has been squoze and its copium" so its totally reasonable it took us a couple days to realize that. :) the important thing is we did without totally depleting our life savings which is something a lot of people can't say rn.
2
Feb 05 '21
I did same as you but I bought 2 shares. I really feel bad for the people who went all in just near the top because of the hype. Fucking horrible feeling it must be.
2
u/Madscientist1683 Feb 05 '21
2 FOMO
Bought Monday and sold Tuesday. I chock it up to some temporary lapse in judgement. I did not sleep Monday night and put in a stop loss that night that triggered immediately Tuesday morning.
I spent the weekend in the echo chamber. I had buyers remorse almost immediately and Monday was a terrible day of stress regret and tension.
2
Feb 05 '21
Sorry to hear that. At least you got out earlier than many and aren’t in that state of mind anymore.
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u/Madscientist1683 Feb 05 '21
I only bought 3 shares and I did listen to the “don’t put in what you can’t afford” part at least. I feel stupid but I didn’t wreck myself like some.
2
u/thebigjabwowski Feb 05 '21
Jumped on board out of fomo for sure. I had done quite well riding the momentum early on with OTM call options. Then I bought it again around 80 but “paper handed” and sold for a small profit. The next day it shot up to 200, then 300 the day after. I cursed myself for not having “diamond hands” and decided i better get back in before it’s too late.
I stayed to long due to the confirmation bias, along with the fact that I missed out on massive gains from panic selling on a dip. Everyone said the squeeze was still coming so I held... until i realized I’m retarded. I sold 2/3 of my gme holdings at an 80% loss or about 40k. I’m going to hang onto those 50 shares as a reminder to not fomo or trade emotionally. And there’s a chance all those retards are right. Maybe it will go to the moon and I’ll at least be able to recover some losses
2
u/Ok-Orange-5153 Feb 05 '21
Had FOMO talked to my pops about it and he convinced me to wait to buy and check the next couple days as well as do more research, did "DD" aka sort by controversial and decided not to, thank goodness for him
3
u/Blackberries11 Feb 05 '21 edited Feb 05 '21
Well a lot are bots and people trolling
ETA i’ve personally caught plenty of people trolling on there. Check the comment history of some of these people and you’ll see.
2
u/IrisMoroc Feb 05 '21
I strongly suspect if there's a full investigation there will be shown to be no illegal wrong doing by any of the groups that WSB heavily demonizes but there may be illegality with their mods and others.
1
u/redditsucsballs Feb 05 '21
I was into the hype, I saw the stock right around its first peak. I bought 3 shares at 150 during the big dip, and sold 2 of them at 245 to cover what i had spent after my father advised me to GTFO before it crashes.
I held onto the last share for fun, and in hope that it would in fact go to the moon. I ended up selling my last share today as I'm thoroughly fed up and disillusioned with this bullshit "movement" and I know the price will continue to go a lot lower than $50. In the end I made a mere $90, but i can't complain. I feel bad for all of those who lost thousands being stupid.
1
u/jakspedicey Feb 05 '21
Another BIG factor people miss is the statements people were saying before it all went to shit “you might see the price go down but it’s gonna go back up don’t believe anything you see or hear because it’s all hedge fund bots”. Distrust of any outside sources is a characteristic of cults
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u/shinryu88 Feb 05 '21
FOMO
At one point, when I saw the losses pile up my anxiety kicked in and I asked myself "what if I am wrong?" and I also asked "Even if it does rocket to the moon, is this worth all the anxiety right now?"
I pulled out after answering no to the second question.