I predict that the S&P 500 will be well under 5,000 by September 30th

I SMELL MY OWN FARTS said:
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Truth Detector said:
I think you will be embarrassed. Sell off your stock holdings yet? :laugh:
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It is possible, maybe even probable, that I will lose quite a bit of money, but I have even more money, so I am not too worried. We are talking about stock options, not stock holdings. I am keeping the mutual funds that I indirectly own stock with(SWTSX and SWISX), and before I retire the plan is to only put more money in. When I retire the plan is to take out 4% or less, a year.

I do own various non publicly traded stock. I will be keeping those too, unless forced to sell through a buyout.
 
Walt said:
It is possible, maybe even probable, that I will lose quite a bit of money, but I have even more money, so I am not too worried. We are talking about stock options, not stock holdings. I am keeping the mutual funds that I indirectly own stock with(SWTSX and SWISX), and before I retire the plan is to only put more money in. When I retire the plan is to take out 4% or less, a year.

I do own various non publicly traded stock. I will be keeping those too, unless forced to sell through a buyout.
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You've already flashed your hand, Wally. You don't have much money, and you are practically BEGGING for the market to drop. You don't have any stocks. You just want to make Trump look bad.

It won't work, Wally.
 
Walt said:
It is possible, maybe even probable, that I will lose quite a bit of money, but I have even more money, so I am not too worried. We are talking about stock options, not stock holdings. I am keeping the mutual funds that I indirectly own stock with(SWTSX and SWISX), and before I retire the plan is to only put more money in. When I retire the plan is to take out 4% or less, a year.

I do own various non publicly traded stock. I will be keeping those too, unless forced to sell through a buyout.
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You don't own any stock, Wally. It's obvious you're pretending.
 
Walt said:
GameStop is a publicly traded stock. It used mark to market, which meant that the market set the price. It never stopped trading on the exchanges, so aside from nights, weekends, and holidays, it always had a market price.


The people who shorted GameStop lost billions because they could not set the price of GameStop.
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it was paused because some people were bidding it up when the exchange didn't;t like it.

it was corrupt.

you;re still lying.
 
Walt said:
First off, it was the opposite of insider trading. They did not have insider information, nor any knowledge that the public did not have about the value of the stock. In fact, because of the ignorance, they had less information than the general public had, which is why they took the wrong side in the trade.

For the most part the "smart money", like Plotkin, were not market makers. They took only one side of the trade, unlike a market maker who would be willing to take both sides. Calling them market makers is false, and more importantly misleading.

Trading of the stock was never suspended on the exchanges. Robinhood suspended buying long positions on GameStop, but you could easily use Schwab, TD Ameritrade, or a thousand other brokerages to trade on the exchange.

The best you could claim was that it was market manipulation. It is a bit of a stretch, but you could claim that "smart money" refusing to pay Robinhood to sell long positions manipulated the market.
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no.

its exactly insider trading.
 
Sammy Jankis said:
it was paused because some people were bidding it up when the exchange didn't;t like it.
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The exchanges never paused GameStop. One brokerage stopped selling long positions, but that was just one brokerage.

Sammy Jankis said:
it was corrupt.
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Maybe. I actually think the system was corrupt, before the action. It was about selling "dumb money" to "smart money." You are upset about the sales breaking down, while I am upset about the sales starting in the first place.
 
Walt said:
The value of an asset must be marked for many reasons, such as when it is used as collateral for a loan,
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... by the person accepting it as collateral, not by some uninvolved third party prosecutor.

Walt said:
for tax purposes,
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... then the government must perform that evaluation.

Walt said:
or just to see if what valuation benchmarks are being hit.
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This ceases to be a requirement.

Walt said:
What you are describing would be mark to limit. I have a limit order set on my puts of $186, even though the current market price is $2.57. The limit order is the price I would be willing to sell the asset, without knowing anything else. So if I sleep through a huge rise in prices, at $186, I do not believe they will go that much higher that I would be able to delay selling them with the possibility of losing out. I could just as easily set the price at a trillion dollars each. If we used mark to limit, then I would able to claim to be the richest man on earth.
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I have great news! You already can claim to be the richest man on earth. I suggest you give it a try if that's something you've always wanted to do.

Walt said:
Or put another way, imagine you have a house that as a realistic value of $100k. You live there, so would not sell at $100k, but would demand a premium to move out of a house you love. Then you start thinking, and say you will sell the house for a billion dollars. If the bank used mark to limit, they would loan you $500 million on that house that now has a value of a billion dollars.
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The bank would have someone assess the value.
 
Walt said:
Insider trading is when traders use information not open to the public to trade. In this case, the "smart money" ignored information open to the public, and lost money. It is the opposite of insider trading.
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its a worse form of insider trading where the market markers themselves pause things because their trades are going south.

insider trading works but a worse term is actually needed.
 
Walt said:
The exchanges never paused GameStop. One brokerage stopped selling long positions, but that was just one brokerage.


Maybe. I actually think the system was corrupt, before the action. It was about selling "dumb money" to "smart money." You are upset about the sales breaking down, while I am upset about the sales starting in the first place.
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yes they did.
 
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