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About half of all of Fidelity trades are executed through Citadel, so if you think Citadel is some boogy-man you need to look elsewhere: https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/applications/Q32020-fbsquarterly.pdf Also, everyone is required by law to execute at NBBO (National Best Bid and Offer) so you may get worse fill or lower "price improvement" with certain brokers, but the price you execute at has to be the NBBO or better. People pay for order flow because they can take the other side of dumb retail investor trades and they have more confidence that someone sophisticated and well capitalized investor isn't trying to put one over on them. As a retail investor, payment for order flow lets you trade commission free. If you want to ban payment for order flow we are going to back to paying for brokerage services.
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Jan 28, 2021 22:28
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If a clearinghouse doesn't have enough cash do handle a crazy surge in a single company guess what? You don't get to be a loving clearinghouse anymore. Trillions of dollars move through the market everyday and loving gamestop skyrocketing is just too much? gently caress off
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Jan 28, 2021 22:29
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if robinhood bans me for buying GME and AMC i will face god and walk backwards into hell - dril
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Jan 28, 2021 22:30
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Im spite holding but not to spite wall street, to spite gogogadgetchris
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Jan 28, 2021 22:30
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greasyhands posted:There is nothing really extreme or unprecedented about the trading volume in GME, it just caught the big boys with their pants down and they pulled strings to help themselves escapr. The system is more than capable of handling the trades, and the excuse they are using is absolute bullshit. 50mil shares of GME were traded today... 150mil of AAPL traded hands. Its complete nonsense If a brokerage finds itself temporarily holding 10M extra AAPL shares for an hour because of shifting conditions within their clearing ecosystem, they are not so scared that it might lose 80% of its value during that hour, yeah? What I am speculating on is that some or several of these brokerages may have found themselves holding millions of shares of GME that they are terrified will go to $10 at any moment and choosing to stop buying (or any trading) by their customers until they have time to divest themselves of unwanted positions. I could be way off base on this. What do you think?
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Jan 28, 2021 22:30
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AMC shorts getting absolutely destroyed now that the covering has started. Up almost 2 dollars in the past 4 minutes
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Jan 28, 2021 22:30
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drunken officeparty posted:Im spite holding but not to spite wall street, to spite gogogadgetchris Depending on what you are holding my gut tells me you'll be HANDSOMELY rewarded
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Jan 28, 2021 22:31
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Robinhood blocked all my meme orders yesterday 
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Jan 28, 2021 22:32
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a_gelatinous_cube posted:How big of an economic event would a Citadel failure have been? Are they a big enough player to have caused some significant waves? Citadel would have been bad but they're basically unrelated to this, unless you're talking about how they made out (probably) like bandits getting in on Melvin capital cheap.
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Jan 28, 2021 22:33
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Gone Fashing posted:wouldnt recommend vanguard simply because their app is really bad, i have some ETF shares in there and i hate it I like Vanguard for medium-to-long-term investing in their nice funds and ETFs, which is also all free, and for all my retirement accounts. But the interface feels like something out of 2002, yeah. RH is nice for a quick glance at by portfolio on the go because the interface is so nice, but I pulled all the money out when they had that weird banking poo poo that almost looked like a liquidity crises (???) a while back, I forget what that was all about.
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Jan 28, 2021 22:33
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drunken officeparty posted:Im spite holding but not to spite wall street, to spite gogogadgetchris man I wish my posting was powerful enough that people risked their own hard earned cash just to try to make me care
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Jan 28, 2021 22:33
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ten_twentyfour posted:AMC shorts getting absolutely destroyed now that the covering has started. Up almost 2 dollars in the past 4 minutes BB is up 9% NOK is up 4% GME is up 40% AMC is up 27% These people want to lose money very badly and now that those precious hedge funds have gracefully exited or whatever the plan was today, they can do so! Pump and dumps are so dumb. they WANT TO LOSE MONEY!
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Jan 28, 2021 22:34
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Good luck meme stonks guys, FOMO that I bailed but am rooting for all you lunatics 
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Jan 28, 2021 22:34
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Leperflesh posted:If a brokerage finds itself temporarily holding 10M extra AAPL shares for an hour because of shifting conditions within their clearing ecosystem, they are not so scared that it might lose 80% of its value during that hour, yeah? What I am speculating on is that some or several of these brokerages may have found themselves holding millions of shares of GME that they are terrified will go to $10 at any moment and choosing to stop buying (or any trading) by their customers until they have time to divest themselves of unwanted positions. Every seller has a buyer, how the gently caress are the going to be stuck with the shares? Maybe i'm reading wrong but this makes 0 sense.
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Jan 28, 2021 22:35
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jokes posted:
I have it on good authority that They Like The Stock
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Jan 28, 2021 22:35
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I've been trading on WeBull for about a month now and doubled my initial investment ($100). I bought in on NAKD today, I want some of that meme money. Is the pro-strat to just hold it until it goes sky high or what?
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Jan 28, 2021 22:36
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GoGoGadgetChris posted:I have it on good authority that They Like The Stock I was under the impression that was a dog whistle they think will exonerate them if the SEC ever subpoenas their post history lol
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Jan 28, 2021 22:36
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Closed my $3 AMC CSPs from yesterday today for an annualized gain of 35,916,851.27%.
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Jan 28, 2021 22:36
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Leperflesh posted:If a brokerage finds itself temporarily holding 10M extra AAPL shares for an hour because of shifting conditions within their clearing ecosystem, they are not so scared that it might lose 80% of its value during that hour, yeah? What I am speculating on is that some or several of these brokerages may have found themselves holding millions of shares of GME that they are terrified will go to $10 at any moment and choosing to stop buying (or any trading) by their customers until they have time to divest themselves of unwanted positions. I feel like I've officially turned old, watching the unhinged crusade mentality and now moral panic from people who have no concept of how these systems work. I had to explain to a few co-workers today that, no, short interests don't bankrupt companies.
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Jan 28, 2021 22:36
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jokes posted:I was under the impression that was a dog whistle they think will exonerate them if the SEC ever subpoenas their post history lol Dude(tte) exactly; it's their version of YouTubers saying "I do not have copyright to this episode of Family Guy" Or boomers reposting that thing on Facebook to protect them from identity theft
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Jan 28, 2021 22:37
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orange sky posted:an amazing, hearty lol from me if this is true hahahahahha
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Jan 28, 2021 22:37
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Mr Gadget Chris, GME isn't $100? I thought it was going to $100 today genius man
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Jan 28, 2021 22:37
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Behotti posted:I've been trading on WeBull for about a month now and doubled my initial investment ($100). I bought in on NAKD today, I want some of that meme money. Is the pro-strat to just hold it until it goes sky high or what? Sell like 400 itm puts
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Jan 28, 2021 22:38
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jokes posted:BB is up 9% Hedges are definitely not anywhere near fully divested from their short positions, especially in GME. With the amount of outstanding shares and huge imbalances buys over sells, the volume and price action aren't there to indicate those positions have been closed.
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Jan 28, 2021 22:38
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Leperflesh posted:If a brokerage finds itself temporarily holding 10M extra AAPL shares for an hour because of shifting conditions within their clearing ecosystem, they are not so scared that it might lose 80% of its value during that hour, yeah? What I am speculating on is that some or several of these brokerages may have found themselves holding millions of shares of GME that they are terrified will go to $10 at any moment and choosing to stop buying (or any trading) by their customers until they have time to divest themselves of unwanted positions. ah basically this https://finance.yahoo.com/video/heres-why-robinhood-restricting-users-173049721.html yeahp quote:
Maybe this dude is lying but it sounds plausible to me. It would not explain the outright halt of trading (vs. permitting closing but not opening of positions) being reported by some Robinhood customers but it does explain why multiple but not all brokerages might have stopped customers from opening positions.
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Jan 28, 2021 22:38
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Robinhood writes, It’s been a tough day, and we’re grateful to you for being a Robinhood customer. In light of the extraordinary market conditions this week, we temporarily limited buying for certain securities this morning. Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed. This was a temporary decision made to best continue serving you, and was not an easy one to make. We know it’s led to frustration and confusion, and wanted to provide some clarity. As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today. To be clear, this decision was not made on the direction of any market maker we route to or other market participants. The past year in particular has shown us that the financial markets are for everyone—not just institutional investors and hedge funds. We’ve seen a new generation enter the market, and they’re sparking conversations about what it means to be an investor. We stand in support of you, our customers. Democratizing finance for all means giving more people access, not less.
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Jan 28, 2021 22:41
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If RH opens buying this loving thing is hitting 1000 tomorrow morning
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Jan 28, 2021 22:43
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Wonder how much of the drop was pissed people liquidating their RH accounts to move to another broker and they'll be buying back in next week?
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Jan 28, 2021 22:44
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ten_twentyfour posted:AMC shorts getting absolutely destroyed now that the covering has started. Up almost 2 dollars in the past 4 minutes No, the volume is too low. This is people piling in after hours
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Jan 28, 2021 22:44
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DoubleT2172 posted:Every seller has a buyer, how the gently caress are the going to be stuck with the shares? Maybe i'm reading wrong but this makes 0 sense. It is not the case that each time you buy a stock through your brokerage you are instantly matched with a retail seller of that stock somewhere else. Your brokerage makes it look like that and it sometimes/often is that, but not always. Explanations of how the market work are usually simplified down to that, because getting into the weeds is unnecessary for normal people who just want to buy a share of apple and then log out. In actuality there is a complex ecosystem of brokerages, market makers, clearing houses, so called "dark" pools, international exchanges, etc. that all participate in order flow and fulfillment. All of these entities are regulated and many are under regulatory restrictions that prevent them from just instantly handing off all liability to someone else for every trade. It is also a system set up to make a lot of intermediaries a lot of money, more or less invisibly to the retail investor. There are cogs in the system that are there for legacy reasons more than actual necessity. As many parts of the system have gotten more efficient (for example, narrowing bid/ask), the micropennies to pick up by intermediaries have become scarcer, and new strategies have developed by these actors to find their profits. This is what I'm talking about when I push back on the narrative that oh it's all so simple, bingo bango if these companies tell you you can't buy shares it can only be because they are trying to manipulate the price of the stock, for <handwaving> fat cat reasons or whatever. Maybe so. There's plenty of that poo poo around. But also maybe Anthony Denier is telling the truth that DTC is on the hook for significant collateral they don't want to or can't hold and so they pushed back on their customers (certain brokerages) to stop permitting new buy positions.
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Jan 28, 2021 22:45
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drunken officeparty posted:If RH opens buying this loving thing is hitting 1000 tomorrow morning
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Jan 28, 2021 22:45
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drunken officeparty posted:If RH opens buying this loving thing is hitting 1000 tomorrow morning It would add a glorious twist to the story that the hedgies had indeed doubled down at $420.69.
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Jan 28, 2021 22:45
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Gone Fashing posted:fidelity, allegedly. it looked like i could buy GME stock all day there Yeah, can confirm Fidelity still allows the memes
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Jan 28, 2021 22:46
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GoGoGadgetChris posted:Robinhood writes, I don't even believe in the conspiracy theories but this is stupid. What the gently caress kind of operation is the clearinghouse/Robinhood running that they can't handle a loving pump and dump on a heavily shorted stock?
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Jan 28, 2021 22:46
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mongeese posted:Which SPAC should I buy from my meme profits? FTOC FUSE BTAQ Rolo posted:These events are huge and important but I gotta say I’m starting to miss the chill SPAC chat thread. Lieutenant Dan posted:*crawls out of the rubble* ...yes Nature is healing.
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Jan 28, 2021 22:47
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https://twitter.com/robinhood/status/1354786505873625091?s=19 Ha!
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Jan 28, 2021 22:47
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drunken officeparty posted:If RH opens buying this loving thing is hitting 1000 tomorrow morning They just pushed a message saying they're going to allow 'limited buys" tomorrow. GME to $5,000?
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Jan 28, 2021 22:47
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Oscar Wild posted:No, the volume is too low. This is people piling in after hours You don't cover a multi-million position all at once, you will pay through the nose as the price skyrockets. They're covering in pieces and praying for downward runs in between.
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Jan 28, 2021 22:47
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mongeese posted:They just pushed a message saying they're going to allow 'limited buys" tomorrow. GME to $5,000? Probably they're not going to allow margin on it or something stupid. Like throwing handfuls of water on a fire.
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Jan 28, 2021 22:48
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uh thread title again? lmao https://twitter.com/LaurenWitzkeDE/status/1354890848270503938
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Jan 28, 2021 22:48
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