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Agreed. Lends credibility to the theory of artificially holding it back while rules are put in place for orderly unwinding of positions/organizations too. Patience, just a matter of time now.
We can hold paying nothing longer than they can hold while bleeding the borrow rates if nothing else.
And now they just "magically" came up with another quarter million shares...
Correct me if wrong, but if a HF goes bankrupt my understanding is ALL of it's short positions in ALL of it's stocks have to be reconciled and not just one...correct? So as an example, they'd have to purchase short shares to close the positions to the extent that it dissolves the HF entity (and then insurance/safety nets/asset buyers kick in).
Or can the short positions move as a whole to a new bankruptcy wholesale purchaser for pennies on the dollar? A purchaser that has the liquidity to be able to hold the short positions that is...not that any would want to at pre-squeeze short price...
Reason I ask is can we expect that ALL other stocks that are being overshorted by a particular HF (ie. AMC, GME, SWRM, BB, etc) be expected to "pop up" all at the same time if short shares are purchased back to reconcile the books? Will positions close out in a staggered timeframe instead? Or will it only be select ones and rest are shifted to new holders?
I'm hoping the run in SWRM continues between now and the May meeting so the gains can be shifted over to the more stable AMC. Something poetic about CDEL funding their own demise from one stock over to another... :-P
Lender margin call, Lender share callback (for privatizing (unlikely)), DTCC deposit requirements get too high, Mark over market losses get to be too high-risk for shorts (cover), borrow rate bleeding shorts for too much (up to and beyond original price and/or beyond cover cost), ???
What else?
Had a decent chance at silver today and they pissed it all away...
And once again this POS has what would've been a beautiful run squashed because the idiot savants settle for pennies rather than dimes... /smh
On the good side, when this stock wants to move up, it moves up FAST. It just doesn't want to move up as often as one would like... LOL!
It would take a solid effort of company achievements, revenue, substantive new releases (not wishywashy, want-to-do's; but multiple concrete, past-tense achievements showing profit), and volume just to break this low channel it's been stuck in since 2016.
Oh and removal of the CDEL walls might help too... :-P
IMO.
Noooo! Oh well, TG2 $1B+ income now in 4Q for the holidays instead... I'm making plans around this one.
"Exhibition continues to be closed in Europe (with UK eyeing a May 17 reopening) and in Brazil as they continue to grapple with Covid, and it’s going to take time for those markets to get back in shape."
https://deadline.com/2021/04/top-gun-maverick-mission-impossible-7-tom-cruise-release-date-change-july-4th-weekend-memorial-day-weekend-1234730581/
Well...isn't this interesting. Look what got posted to DTCC's site 6 April 2021. Listed as "DTC Letter of Securities Possession (LOP)". Looks like another way to force HFs to not naked short...or at least pay more for it.
https://www.dtcc.com/legal/issue-eligibility
"if the Certificates are not received by DTC’s Underwriting Department by 4:00 p.m. ET on the Closing Date, DTC may debit the Account of the DTC Crediting Participant to the full extent of the Certificates not so received, and if this debit creates a short position, DTC may charge the settlement account of the DTC Crediting Participant 130% of the current market value of the securities represented by such Certificates until they are received by DTC. "
FTD's (Fails to deliver) are about to get more expensive.
Seriously...what are the chances that the HF's get margin called and begin to unwind on April 1st... ROFL.
Both Fintel and crazyawesomecompany are showing ZERO -0- shares available this morning for GME. Good news for AMC if we follow the leader...
Found it. This is what's making the waves on Reddit... Sounds like it's starting over in Asia and sweeping along with the international date line as folks are waking up with the info.
https://www.reddit.com/r/GME/comments/mho31w/gme_margin_call_from_the_interactive_brokers/?utm_medium=android_app&utm_source=share
So if I understand it correctly, it really comes down to one of two words for HFs at this point. Cover or Liquidate.
If they liquidate, they're selling other positions to have enough margin (reduce SLR) to wait it out on GME/AMC for the price to come down AND have enough shares available (one or the other might be realistic but not both); and then the race against borrowing fees is a slow bleed that can leave them with minimal to nothing...or paying...in the long run if retail holds long enough. HFs might drop PPS down to anything ($1?) but if no one is selling (AND they run the risk of others buying any available shares they need and locking them in a hold making it worse for them) it's not worth pushing it too low. Anyone remember the game Hungry Hippo and the scramble for resources? LOL! The only ways left are churn or burn upward.
If/when they cover, the first to cover has the least amount of pain as they'll be grabbing shares on the way up, rather than at the top.
So who covers first? Place your bets...
(All IMO and guesses)
Interesting choice of words...
Another coincidence to add to the mix is this statement, "Citadel’s hedge fund filings with the SEC also indicate that some of the largest banks on Wall Street, such as JPMorgan Chase, Goldman Sachs, and Citigroup, are its prime brokers – meaning that it is highly likely that they and other globally systemic banks are providing margin loans that have helped Citadel Advisors leverage its equity from $35 billion to $235 billion."
Ref: https://wallstreetonparade.com/2021/02/is-citadels-hedge-fund-a-harmless-35-billion-minnow-or-a-235-billion-killer-shark/
Which of the 59 times in past 12 years are you referring to? Any of these?
"On July 16, 2020, Citadel Securities agreed to a $700,000 fine by FINRA for executing customer orders at prices worse than it traded for its own account. It was allowed to neither admit nor deny the charges. The activities did not occur over a matter of days or weeks – but over a period of years.
On November 13, 2020, FINRA fined Citadel Securities $180,000 for failing to mark 6.5 million equity trades as short sales. Citadel did not admit or deny the allegations but paid the fine. The activity occurred between September 14, 2015 and July 21, 2016.
On December 10, 2018 the Securities and Exchange Commission fined Citadel Securities $3.5 million for the following:
“From November 2012 to August 2016, Citadel submitted 2,774 EBS to the Commission, all of which contained deficient information, resulting in incorrect reporting of trade execution time data for approximately 80 million trades. As a result, Citadel violated the recordkeeping and reporting requirements of Section 17(a)(1) of the Exchange Act and Rules 17a-4(j) and 17a-25 thereunder.”
Ref: https://wallstreetonparade.com/2021/02/gamestop-hearing-citadels-ken-griffin-doesnt-let-the-brutal-facts-get-in-the-way-of-his-testimony/
Seems like too many events are happening all at the same time to just be coincidence. Too many are aligning in a direction to be written off as business as usual also.
Lately this past week, between the closed door session (usually done in enforcement or criminal proceedings) to the filing of the NSCC (SR-NSCC-2021-004) on 23 Mar 2021 in anticipation of the SLD rule being put into effect. This is all starting to point to a major, foundation-shaking event in the not to distant future.
Some DD from Reddit that presents some strong opinions with the reasoning behind them is resonating and might be of interest to this board...
www.reddit.com/r/GME/comments/mdc40j/dtcc_recovery_and_wind_down_rw_procedure_dd/
"As a closing thought, whilst the 801 rule is not yet active, this rule change could very well spell the start of the DTCC and co preparing themselves for an event which risks their survival"
And what has been gleaned from the SEC Closed Door meeting with a TLDR of "A player in the game may be about to get pinched"
www.reddit.com/r/GME/comments/mdegxq/re_sec_closed_meeting_today_3252021/
Add in some rather amazing AMC price action/manipulation over past few weeks and it's all looking like it's about to come to a head. IMO. Better sooner than later of course, but I'm willing to wait however long it takes to watch this show. It already has more plot twists and turns and curveballs than initially imagined.
SR-NSCC-2021-004 (which makes for an amazing policy junkie read!) can be found at:
www.dtcc.com/legal/sec-rule-filings
It took me awhile to figure out what they are doing with the proposal. They didn't do a very good job of making all this clear either. But it's a proposal not a directive at this current stage. It's just getting confused by many because read the directive within the proposal and folks are latching onto the directive first and not the proposal. Clear as mud yet?
Put another way...It's basically being circulated as a "Hey, what do you think of this proposed directive?" kinda thing first. If there aren't any major objections/comments/undue complexities to the proposal then they will publish the not-for-comment or pre-anything version with a hard effective date like the text within the proposal states...or an 'effective immediately' if everyone can support the change in writing.
But oh yeah, I want the SEC/DTCC/NSCC to fast track that rule (as do most of us) because in my opinion it'll lead to some rather violent upswings as it holds HFs responsible and accountable for their own actions.
So the sooner the better...imo
Read the filing... and post 19692.
"The Commission is publishing this notice to solicit comments on the advance notice from interested persons." Saying they are just after comments at this time and setting the purpose of the ADVANCED NOTICE filing.
They have to approve the proposal first before the dates WITHIN the proposal go into effect.
They have not published the effective date...yet.
Wait. Is that the total number of shares TRADED or the total number of shares ISSUED in that column?!? There's no legend explaining definitions that I found. But it's in the "OTC (Non-ATS) ISSUE Data" section... Hmmm.
Looks like it'll take out Virtu Americas also with more than 538M shares(more than O/S!) too...
So for Citadel alone to cover their short shares, assuming even infinite shares at current price could be purchased at $9.23 they are looking at a $19,070,337,386.62 BILLION dollar price tag on the deal... WITHOUT TAKING INTO ACCOUNT THE RISE IN PPS FOR BUYING PRESSURE???
Oh yeah, there's going to be bankruptcies involved with this one then. No wonder DTCC, NSCC, and SEC are scrambling to cover their asses and dump it all in the HFs lap.
WOW! It's just like VW all over again. Big spike down on lower volume right before.
/sigh. 4 years and counting for this turd to start floating. If the company found the cure for cancer the shorts would still hold it back.
Why do several folks say the SLD is already in effect when it obviously is NOT, even according to the filing??? Wishful thinking? Rush to implement? Preparation? Scare the HF's into movement? I mean I'd love to get to the moon sooner rather than later too, but jumping the gun with false info is just going to cause more noise/FUD rather than accurate, tangible, visible facts.
From the SEC Federal Register document 18 Mar:
"The Commission is publishing this notice to solicit comments on the advance notice from interested persons." Saying they are just after comments at this time and setting the purpose.
"(v) Implementation Timeframe
NSCC would implement the proposed changes no later than 10 Business Days after the later of the no objection to the advance notice and approval of the related proposed rule change?[37] by the Commission. NSCC would announce the effective date of the proposed changes by Important Notice posted to its website." Saying no objections and approval of Commission need to happen first and then an announcement of an effective date can happen.
"III. Date of Effectiveness of the Advance Notice, and Timing for Commission Action
The proposed change may be implemented if the Commission does not object to the proposed change within 60 days of the later of (i) the date that the proposed change was filed with the Commission or (ii) the date that any additional information requested by the Commission is received. The clearing agency shall not implement the proposed change if the Commission has any objection to the proposed change.
The Commission may extend the period for review by an additional 60 days if the proposed change raises novel or complex issues, subject to the Commission providing the clearing agency with prompt written notice of the extension. A proposed change may be implemented in less than 60 days from the date the advance notice is filed, or the date further information requested by the Commission is received, if the Commission notifies the clearing agency in writing that it does not object to the proposed change and authorizes the clearing agency to implement the proposed change on an earlier date, subject to any conditions imposed by the Commission.
The clearing agency shall post notice on its website of proposed changes that are implemented.
The proposal shall not take effect until all regulatory actions required with respect to the proposal are completed." So within 60 days if no objection AND not waiting on more information. If no objection is in writing then they can implement earlier in 60 day window by posting implementation change on NSCC website.
Has any immediate implementation announcements been posted? Please post those if so!
IMO, if it were in effect already we would see MUCH more beneficial movement in PPS than current. Just need patience.
Ref: https://www.federalregister.gov/documents/2021/03/24/2021-05993/self-regulatory-organizations-national-securities-clearing-corporation-notice-of-filing-of-advance
"Retail investors want to clean up capital markets, and they just might be powerful enough to do it now. That’s a serious wake-up call for both naked short sellers and the investing public."
https://www.silverdoctors.com/headlines/world-news/naked-short-selling-the-truth-is-much-worse-than-you-have-been-told/
Well if the SEC ever wanted an example of market price manipulation, they got one.
Wow! 249k single buy block. Their wall is getting holes punched in it.
20 Million shares traded at $14 today. Craziest price suppression trading I've ever seen...
Dow down, NASDAQ down, Oil down, Gold down, BTC/USD down, AMC Up 3.2%... Luv it.
Good to see some green somewhere in the portfolio.
To counter all the negative news attacks, can you just imagine if the company put out something like "Company stunned when audit finds 50 million more voters than outstanding shares"? Now THAT would be newsworthy... followed by the investigation into when the market stewards became the market abusers with synthetic shares and how it's going to be corrected.
I'm curious if we're going to hear anything more about the share count they did. I wonder if the results were under, right at, or over. Seems to me the loaned shares could have been just masked from the count, but the number of voting shareholders that bought those shares could not. Given the Fails to Deliver, I don't think anyone is getting/giving an accurate picture.
In the meantime... we're left to play the "what if" game.
The HFs have nothing to fear then! They closed all their positions, I heard it on the news...right? /sarc
ROFL!
Must've been tied to commitments to buy at closing price...? Dunno. But it was like the bid was invisible.
Yeah, I saw that too. Something was way wrong/broken there. Was like the bid down to $13.56 didn't exist...
I want to see the results too! lol I think we all do!
Check out all the filings for AMC leadership acquiring shares today! Skin in the game.
While at it, might as well ask the question of the SEC too...
From the A8974 filing notice on 5 Mar 2021:
"You may also address your written comments to the Secretary of the Commission, Securities and Exchange Commission, 100 F Street NE, Washington DC 20549. Electronic comments may be submitted using the SEC’s Internet comment form (http://www.sec.gov/rules/sro.shtml) or by sending an email to rule-comments@sec.gov. Please include File Numbers SR-NSCC-2021-002 and SR-NSCC-2021-801 on the subject line. We request that you provide NSCC with a copy of your comments."
The paragraph prior="The full text of the Filings may be obtained by visiting the DTCC website at www.dtcc.com/legal/sec-rule-filings.aspx. Written comments on the Filings may be addressed to National Securities Clearing Corporation, c/o General Counsel’s Office, 55 Water Street, New York, New York 10041, Attention: Jacqueline Chezar, Executive Director and Associate General Counsel, and your comments will be forwarded to the SEC." But looks like you got an email response direct from the listed POC already; well done.
SSR trap chess move imo. SSR indicator now showing on. Should make today and tomorrow more interesting.
https://amc.crazyawesomecompany.com/
Fails to deliver (2nd half Feb) posted. Back of envelope math shows 1,545,951 fails to deliver for the 2 weeks.
If the overall hold & squeeze strategy works on AMC/GME, and they seem to be, I would love to hear from someone (anyone!) on if or how to break the grip of shorts in SWRM... that place has been a bear pit for 4 years now. Can this strategy work for any heavily shorted stock, or just Billion+ market cap stocks???