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GME and AMC stock action (out of main)
- Thread starter Electroman
- Start date
Make sure you try again in Schwab if it says invalid symbol -- it's a "bug" and you just have to keep trying.
TD and Schwab took action yesterday, RH and IB altered order types today...and thats only what was in media..who knows who else did what so far.
i havent experienced much difference in my IB account. i still see quotes and saw no outages other than exchange halts (no doubt at the behest of MMs)
i dont think RH will melt down, regardless of what everyone think. its painful to switch accounts, and the larger you get, the more painful it is. maybe they see an imbalance of transfer outs to other brokerages, but theres many customers that couldnt care less about GME and AMC/AMCX
the maket participants will align to protect themselves in whatever way they can, especially with no oversight or guidance. some chats/tweets/etc are blaming the brokerage for thingsit doesnt control, and blaming the exchange for things it doesnt control.
one thing we need is to understand who the market particiapnts are, what their roles are, and what they have control over. none are above or absent from culpability/responsibility
if your brokerage isnt sophisticated enough to handle an outlier situation like we are witnessing, from a real-time risk mitigation perspective (simultaneously analyze customer account valuation, market valuation of target security in order, margin impact, etc) then yes, they are going to pull all the stops in order to get their house in order, otherwise cease to exist.
even the sophisticated ones like TD Schw IB etc are taking measures
what i dont necessarily agree with is why switch to 'closing only' and margin increases. who not just stick with margin increases and leave the closing only out of the equation?
is it because as im writing this GME has been halted half a dozen times? (basically it seems they are un-halting, letting a trance of orders come through, and ther halting again) allowing an orderly wind-down of this chaos...because if thats whats going on, no algo software that manages risk, as described above, could handle that in the fly with jsut some simple margin parameter increase. hence the 'closing only' aspect. it de-risks all the trading flow for that broker (yes it sucks for the trader) but may be the only save for the broker.
this is unprecedented. gm was 500 premarket, then 156 at a recent halt - crazy
winklevii on cnbc now slamming the establishment - touting crypto trading, as there is no 'halt' effect
but even there, do you relly want to be on the wrong end of a crypto rout? who do you call? who protects you? swap one broken thing for another?
unprecedented!
i havent experienced much difference in my IB account. i still see quotes and saw no outages other than exchange halts (no doubt at the behest of MMs)
i dont think RH will melt down, regardless of what everyone think. its painful to switch accounts, and the larger you get, the more painful it is. maybe they see an imbalance of transfer outs to other brokerages, but theres many customers that couldnt care less about GME and AMC/AMCX
the maket participants will align to protect themselves in whatever way they can, especially with no oversight or guidance. some chats/tweets/etc are blaming the brokerage for thingsit doesnt control, and blaming the exchange for things it doesnt control.
one thing we need is to understand who the market particiapnts are, what their roles are, and what they have control over. none are above or absent from culpability/responsibility
if your brokerage isnt sophisticated enough to handle an outlier situation like we are witnessing, from a real-time risk mitigation perspective (simultaneously analyze customer account valuation, market valuation of target security in order, margin impact, etc) then yes, they are going to pull all the stops in order to get their house in order, otherwise cease to exist.
even the sophisticated ones like TD Schw IB etc are taking measures
what i dont necessarily agree with is why switch to 'closing only' and margin increases. who not just stick with margin increases and leave the closing only out of the equation?
is it because as im writing this GME has been halted half a dozen times? (basically it seems they are un-halting, letting a trance of orders come through, and ther halting again) allowing an orderly wind-down of this chaos...because if thats whats going on, no algo software that manages risk, as described above, could handle that in the fly with jsut some simple margin parameter increase. hence the 'closing only' aspect. it de-risks all the trading flow for that broker (yes it sucks for the trader) but may be the only save for the broker.
this is unprecedented. gm was 500 premarket, then 156 at a recent halt - crazy
winklevii on cnbc now slamming the establishment - touting crypto trading, as there is no 'halt' effect
but even there, do you relly want to be on the wrong end of a crypto rout? who do you call? who protects you? swap one broken thing for another?
unprecedented!
respectfully disagree for reasons i just posted about.. in general, brokers all same. each has a bit of a niche that may cater to you slightly more than another. but underlying function and market particpant role similar
its a clash of algos...trading vs risk mgmt
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In this video (he's an ex Wall Street Insider), he says that 80% of market volume is institutions, so retail investors are definitely at a disadvantage in a war like this. Especially when you have brokerages coordinating "attacks" against their customers. Wild times. Now you know what Parler felt like when everyone dropped them.
BTW, this is a good series of videos:
Today's:
Yesterday:
This is all to protect the assholes who naked short (and the markets and regulators who allow it).
BTW, this is a good series of videos:
Today's:
Yesterday:
This is all to protect the assholes who naked short (and the markets and regulators who allow it).
Thanks, it did go through on Schwab just now
JRP3
Hyperactive Member
Causalien
Prime 8 ball Oracle
For IBKR, you can actually buy call ootions on gme. Seems like they messed up the blocking
another thing...if this repeated halting of GME is what it looks like, thats kinda BS
the point is to continuously quote a market..not halt it, review the incoming orders to tweak your quote tools, and lift the halt, process, halt again, repeat, repeat
the optics of that allows one to theorize that the MMs now have unilateral power to stop time, review the book, optimize their quoters, prioritize the orders they want, and scrap/hold for later the orders they dont
...insane
i cant say that is really happening..but it doesnt look good to have a halt evey 5-10 minutes throughout the day
wheres FINRA, wheres SEC - wheres bloomberg and cnbc or wsj with their questions to regulatory bodies asking what exactly is going on at the most fundamental point in the market - the process of executing and filling orders at the 'exchanges'
the point is to continuously quote a market..not halt it, review the incoming orders to tweak your quote tools, and lift the halt, process, halt again, repeat, repeat
the optics of that allows one to theorize that the MMs now have unilateral power to stop time, review the book, optimize their quoters, prioritize the orders they want, and scrap/hold for later the orders they dont
...insane
i cant say that is really happening..but it doesnt look good to have a halt evey 5-10 minutes throughout the day
wheres FINRA, wheres SEC - wheres bloomberg and cnbc or wsj with their questions to regulatory bodies asking what exactly is going on at the most fundamental point in the market - the process of executing and filling orders at the 'exchanges'
That's fine but they won't ever get a dime from me again.
Such disparate people like AOC, Ted Cruz, and Dave from Barstool are all rabble rousing on this. I will be surprised if at least we don't see a fake investigation.
I've said this before but this is surely the greatest show on earth, what a rollercoaster. Tipping down again now it looks like.
If they hadn't stopped retail from buying it might have gone up to 1k or so.
Absolutely, and they'll keep applying this downward pressure in hopes they can make it free fall and stay below $200 for tomorrow. I don't think they have what it takes to keep it down, even with the droves of investors they're screwing over for their own "safety." I'm angry for everyone who can't buy right now.
Its funny, how CNBS anchors do not have a mirror!
They cry wolf if an open discussion board can do what they have been doing for a living all the time.
They are spewing BS about stocks every day, but that is not "manipulation" but if an unknown guy does it on the internet that is horrible. LOL
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I am pissed with IB. Not allowed to buy more GME as well
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