stock market was up today...

[Velo Vol]

Nope to which part?

I didn't vomit.

This kind of hearing is representative government at its finest.

 

[SpaceCoastVol]

"Yes or No" "I'm reclaiming my time".

Disgusting.

 

[05_never_again]

Does anyone watching the 'hearings' today on GME et al find the sight of Maxine Waters running it as disgusting and vomit inducing as I?

It is so annoying to me that people get their hopes up for these hearings, as though something big is going to be revealed. These hearings are performances for the politicians, nothing more.

 

[Velo Vol]

It is so annoying to me that people get their hopes up for these hearings, as though something big is going to be revealed. These hearings are performances for the politicians, nothing more.

Maybe the SEC will fix whatever it is that needs to be fixed.

 

[Carl Pickens]

My biz is booming. I ask around and yep, finding mfg employees is a challenge.

What kind of mfg business do you have?

 

[Carl Pickens]

Nope.

You must be into old ugly ass women

 

[Thunder Good-Oil]

Maybe the SEC will fix whatever it is that needs to be fixed.

The only thing that needs to be addressed is why well funded hedge operations are allowed to manipulate stock prices to the downside. Thousands or millions of retail investors organizing on a public forum and pushing back by doing the opposite shouldn’t be a concern.

 

[05_never_again]

Maybe the SEC will fix whatever it is that needs to be fixed.

Highly doubtful. The SEC investigates speeding and parking violations and hands out speeding and parking tickets.

 

[05_never_again]

The only thing that needs to be addressed is why well funded hedge operations are allowed to manipulate stock prices to the downside. Thousands or millions of retail investors organizing on a public forum and pushing back by doing the opposite shouldn’t be a concern.

WSB is also just a cover, IMO, for the real squeezing, which was likely done by other HFs on the other side of the trade as Melvin and other shorts. There no doubt were some WSB traders, like deepf******value, that did their own homework and were in early. And good on them for doing so. However 95% of that crowd got interested and started buying at triple-digit prices.

I know it is an exciting thought for a ragtag group of traders on Reddit to think they pushed back against or even "defeated" some sophisticated hedge funds, but there's no way that is what really happened. They participated, no doubt, but they were riding on the back of an elephant. We already know that a handful of HFs reported large long positions in GME on 12/31, as of the most recent SEC filing. Those were the guys selling to the WSB crowd at 200, 300, 400, etc.

Wall Street generally, and the HF community in particular, actually isn't a particularly large group of people. Word had gotten out that Melvin and others were in a compromised position, and any time a large market participant is in a compromised position a trade opens up on the other side.

 

[SpaceCoastVol]

Maybe the SEC will fix whatever it is that needs to be fixed.

Like what? A bunch of idiots throwing their money away trying to 'get the man'? Sorry, but being stupid has a price.

 

[SpaceCoastVol]

The only thing that needs to be addressed is why well funded hedge operations are allowed to manipulate stock prices to the downside. Thousands or millions of retail investors organizing on a public forum and pushing back by doing the opposite shouldn’t be a concern.

This^^^^^^^^^^^^^^^^^^^

 

[Orangeburst]

What kind of mfg business do you have?

Sales of rotating equipment to manufacturers and they tell me their employee issues. I am not an owner just a worker bee

 

[Carl Pickens]

Sales of rotating equipment to manufacturers and they tell me their employee issues. I am not an owner just a worker bee

I hear the same thing from my customers ..... and it’s not just manufacturing.

 

[vols4sure]

I just have to say I enjoyed Roaring Kitty. Posting a Rocky picture on Twitter minutes before testifying to Congress, telling Congress he is not a cat during his testimony, and having a "Hang in There" cat poster behind him.

 

[Velo Vol]

Congrats if you placed your bets on energy.

 

[Rasputin_Vol]

Congrats if you placed your bets on energy.

That's great. That is exactly what the middle class needs rising energy prices and strong banks.

 

[Vol737]

Let’s get this party started. A few trillion $$ more, anyone?


Michael Burry Warns Weimar Hyperinflation Is Coming | ZeroHedge

 

[Velo Vol]

Seems this trend continues.

 

[lawgator1]

Seems this trend continues.

Add to that the fact that the market has already built in expectations for post-covid recovery and things promise to be sluggish for awhile. If GDP heading into 2022 is even better than expected, market could continue to new heights. But if the numbers are slow, could really hurt.

 

[Velo Vol]

That's great. That is exactly what the middle class needs rising energy prices and strong banks.

Do you even own any stocks? Or does your "investing" consist of rocks in your home vault?

 

[Rasputin_Vol]

Do you even own any stocks? Or does your "investing" consist of rocks in your home vault?

Of course I do. My point is that the two sectors that are being lauded for their growth are not necessarily signs of good things to come for the Average American. American companies that make widgets and employ people here are good. But higher energy costs and banks growing with relation to more FED growth and money printing is not a good thing.

 

[05_never_again]

Of course I do. My point is that the two sectors that are being lauded for their growth are not necessarily signs of good things to come for the Average American. American companies that make widgets and employ people here are good. But higher energy costs and banks growing with relation to more FED growth and money printing is not a good thing.

The US is the world's largest energy producer, and rising oil prices are good for the frackers in particular. Rising energy prices isn't an unequivocal negative thing for the United States. Banks are rallying because the yield curve is steepening, not necessarily the money printing itself. Both industries employ a ton of people here.

 

[volgr]

Rising energy prices isn't an unequivocal negative thing for the United States.

Pretty bad timing with a lot of Americans struggling to make ends meet.

 

[05_never_again]

Pretty bad timing with a lot of Americans struggling to make ends meet.

They are still much lower than they were during some parts of the financial crisis, or in the early 2010s. WFH means less commuting than there used to be.

 

[volgr]

They are still much lower than they were during some parts of the financial crisis, or in the early 2010s. WFH means less commuting than there used to be.

I'm sure the Biden Administration will have them sky high before long. Blue collar working class Americans don't have the luxury of working from home. Yeah, this may be a boon for the city dwelling soy sippers who work from home and don't own a car, but it has real world impacts for many others.