Boiler Room: The Official Stock Market Discussion

[Brolic]

Does Etrade, TD, or fidelity do instant account verification?
Webull is taking too long.

 

[old pig]

Does Etrade, TD, or fidelity do instant account verification?
Webull is taking too long.

ya I signed up with both etrade and fidelity super early this morning...fidelity was immediate...etrade technically took a few hours to verify after I joined/created my account...I’ll keep the etrade account for a while but I’m dealing with fidelity after finding out etrade was on some fukkery after I signed up...I could close the account but I guess it wouldn’t hurt to have it as a backup...RH already had too many strikes against it and thurs. was the final one...if I had prior access to a real brokerage I could’ve probably taken advantage of AH/PM hours before that shyt they pulled on thurs. cuz the irony is I got spooked when I saw @CountryBalla mentioned the possibility of it happening before it did...he more so anticipated a full freeze tho (no buying and selling)...sorry for the rant...but yes for etrade and fidelity

 

[Brolic]

ya I signed up with both etrade and fidelity super early this morning...fidelity was immediate...etrade technically took a few of hours to verify after I joined/created my account

Which one has a better user interface on the mobile app?

 

[HoldThisL]

 

[Macallik86]

I posted this yesterday and someone in here called it bullshyt.

There is a retail trader circle jerk going on right now. With every piece of evidence suggesting that the limiting of purchases wasn't some nefarious plan, the goalposts keep moving on some Qanon shyt. All I can do is try to make money off of the inevitable implosion that is on the horizon.

 

[old pig]

Which one has a better user interface on the mobile app?

idk...I used some fukked up exchanges when I was in crypto so the appeal of the interface/ease of use is not something I dwell on too much...on a personal note I like etrade better but that had no impact when I decided to use fidelity over them

 

[Macallik86]

If Melvin capital and the other short sellers failed it would have brought down the entire market so DTCC raised the collateral requirements to 100% to cause a domino effect and stop GME trading and let Melvin and them get out from under the pressure.

If Melvin fails they default on all their obligations.
The brokers have to step in and cover all Melvin's obligations.
The brokers can't afford that so the clearing houses have to step in for them.
The clearing houses can't afford that and at that point you sell a stock you get nada.
At that point I believe SIPC has to step in freeze everything and pay people out up to $500K of their holdings and the rest is lost because the insurance only goes that high.

So essentially the central clearing house stepped in and caused a chain reaction to save Melvin and other short sellers and thus the market. Imagine the suffrage if that didn't happen.

Like I said the government needs to insert themselves into this now. These WSB cats are playing with the detonator of a nuclear bomb.

Good concise post.

This type of systemic uncertainty will turn people risk off and will dump stock imo. We'll see if it creates a temporary dip or something more extended. We are due for a correction/pullback anways imo

 

[NatiboyB]

Besides Webull who else gives free stocks for people to join

 

[HoldThisL]

Besides Webull who else gives free stocks for people to join

RobinHood

 

[Kyle C. Barker]

welp! listen up brehs, RBLX ipo will be delayed yet again, this means that it won't be dropping early feb as planned and will probably be dropping march or later. smh, let's hope its end of feb.

Given everything that has been going on I'm fine with that.

 

[winb83]

The source of their financial trouble is the short, then market manipulating to double down on making the short. This was a PROFIT motivated move. Just like the 2008 collapse. Stop framing it as of they're trying to save the market or some shyt, they got caught with their dikk in the door being greedy

The NOT a matter of too many normies are playing and the market cant handle it. Its a matter of the hedge funds overextending themselves to bet against them. Because it can absolutely handle when normies get gutted and played en masse.

No it wasn't. If there is a massive wave of brokerage failures and clearing house failures who does that hurt?

You can debate how we got to this point all you want later but right now we are where we are. Sometimes in order to save innocent people you have to save everyone including the villains. This was such a case.

If you worked your whole life and have a 401K worth $1 million or something and are about to retire do you deserve a $500K payout and that's it because a hedge fund tried to run Gamestop into the ground and reddit wanted to go to war with them?

Some people have their whole life savings tied up in the markets in safe stable companies and don't deserve to have the rug pulled from under them cause some reddit users wanted to blow up our economy.

 

[Kyle C. Barker]

The boiler room is transforming into hot garbage.

I blame dogecoin , gamestop and robinhood. All the helpful inciteful information about good companies have been put on pause for gamestop and robinhood fukkery

So much to scroll through these days viewing this thread

Meanwhile the dow is down 1000 points

 

[humminbird]

Besides Webull who else gives free stocks for people to join

sofi kind of

Spoiler: referral link

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[Starski]

 

[Kenny West]

No it wasn't. If there is a massive wave of brokerage failures and clearing house failures who does that hurt?

You can debate how we got to this point all you want later but right now we are where we are. Sometimes in order to save innocent people you have to save everyone including the villains. This was such a case.

If you worked your whole life and have a 401K worth $1 million or something and are about to retire do you deserve a $500K payout and that's it because a hedge fund tried to run Gamestop into the ground and reddit wanted to go to war with them?

Some people have their whole life savings tied up in the markets in safe stable companies and don't deserve to have the rug pulled from under them cause some reddit users wanted to blow up our economy.

Your example of 401ks were gutted in value last year by covid. And for them it was tough titty, thats the market.

Besides, the initial cascading into clearing houses blowing up from debt would mean that all the regular people investing in GME would have gotten paid, right? Who's to say that the money distributed to I'd guess millions of individuals wouldnt go back into the market? None of these fearmongering forecasts speak on the possible wealth redistribution that could offset many of the doom and gloom

Like how many people do they think care about the health of the stock market/clearing house vs the prospect of they as thousands (if not millions) of individuals being cheated out of a chance multiply their net worth?

For all the people who just started investing this week, what good do you think they'll find in a market that cheated them the moment they won?


These hedge funds represent one sector of this country. One small sector

But yeah this is pointless to debate. Crypto and DKNG about to be my only longs