What Really Happened With GameStop $GME ?GME TSLA GME AMC GOGO GME SPY DJ-30 QQQ GME WDAY WKHS AAPL MSFT AMC GME
I thought I would take a few minutes in this special video just to kind of explain what has been going on with GameStop ( NYSE: GME ). It was actually something Gary suggested.
The Bollinger Bands look weird and that’s because I have them 5 standard deviations from the 20-day moving average, rather than the standard 2. This type of a move here, back on the 13th, where this actually pushed above 5 standard deviations, and then we have had several others even yesterday, on Wednesday, the hit 5 standard deviations, that’s like one in a million, maybe one and a half in a million, but it is just like never supposed to happen.
This was a huge surprise to the market; the reason that all of this happened in the first place was, a lot of the retail investors looked at short interest. They could see that this stock was so heavily shorted by “smart money”, where literally 140 percent of the freely available shares were short. How does that happen? Well, you have to borrow shares in order to sell them; that’s what a short seller does. He doesn’t own the shares, he borrows the shares and sells them.
The idea is, he is able to buy those shares back at a lower price and return them to the person who lent those shares to him. That’s just the way it works; you hear in trading parlance, get a borrow; I would like to short such and such but I can’t get a borrow. Tesla ( NASDAQ: TSLA ) used to be that way, where everybody would short Tesla ( NASDAQ: TSLA ) and if you wanted to go join the short party you couldn’t do it because you couldn’t get a borrow. Unless you were huge money or something you could not find stock that you could borrow so that you could sell it.
This was the same thing, but what happens is these big-money types like this Melvin buffoon, Melvin Capital, I forget the guy’s name, it doesn’t matter, you will never hear from them again, is short this stock when 40 percent greater than the float, the number of freely available shares were shorted. How do you do that? Well, by golly you go back to your favorite broker and you are going like, hey, I know there are no more shares that I can borrow, but how about if I short it anyway? What are you going to charge me? What kind of fee are you going to charge me in order to do that?
So why would somebody, we’ll just use Mel as his name, it’s really not that’s just the name of the company, Melvin Capital “Mismanagement”, why would Mel want to do this? Well, Mel wants to do this because he is really super smart. He’s got a place in the Hamptons, he’s well connected, he’s got Jamie Dimon’s cell phone. He does a lot of business with all the major firms and he is running about, I think, 15 billion bucks. So of course, this guy is the smartest guy in the world.
And so he is looking at GameStop ( NYSE: GME ), the fundamentals absolutely stink, and they do, and so he decides that this is basically a sure thing. The company is going to zero; they have stores in malls that sell video games. Well, malls generally aren’t open and people are now playing video games online. They don’t need to go to GameStop ( NYSE: GME ) to buy an Xbox. Of course, when you have got Amazon ( NASDAQ: AMZN ) you don’t need to go anywhere to get anything. So this company is definitely, at least in this guy’s mind, a zero.
Now, a guy like Michael Burry thinks the opposite, and if you remember, this is my bad, back here I think the stock was worth around $4.50 or $5.00, it was really, really cheap. I actually saw Burry tweet this on Twitter, which is where you tweet, unless you’re a bird, that he thought the company was grossly undervalued. The market was missing some key aspects to their business. And I put our members in it and then I know I have seen recently people lamenting that they only made 30 or 40 or 50 percent on it. I haven’t held this stock in a long time, other than since the day before yesterday.
But anyway, the deal is the fundamentals are horrible and this guy thinks he is going to make just a boatload of money because the stock is obviously overvalued. And that is what this guy’s shtick is, he’s a value guy. You can be a value guy, I think you are a moron unless you are actually buying the entire company, if you are a Warren Buffett type. Buffett, if he wants to buy like Burlington Northern he is totally going to look at value, that’s the whole thing I want the company.
But if you are just looking to buy the stock or short the stock. If that’s what you are looking to do, you should take into account the sentiment, the enthusiasm, or lack thereof, you have to take into account the psychology of traders. The only reason Bitcoin is worth what it is now is because that’s what people think it’s worth. The only reason GameStop ( NYSE: GME ) is worth 245.00 right now is because that’s what people think it’s worth. If they didn’t think it was worth this amount of money it wouldn’t be trading here, it would be trading at $10.00, if that’s what everybody thought it was worth.
So SFB, Mel as we will call him, thinks that the stock is not worth $10.00, he thinks it is worth 3.00 or 2.00. and so obviously, to this brainiac, he sees all of these people as utter fools for taking this stock so far to the upside. He never hedged his bets, he never said, hey, I’m going to short this stock but if something goes wrong, like everybody and his brother learns that I am totally short a stock that has nothing but built-in buyers like there are no sellers. I am literally the last guy who has sold this stock short, maybe I better buy some calls. Maybe if I am short the stock at $5.00 or $10.00, maybe I better buy some out of the money calls. Even if they are 50 percent higher than my short entry at least I’ve got some cap on my losses. If I short the stock at 10.00 I’ve got calls at $15.00, then my risk, my max risk on the trade will be $5.00. It will be 50 percent, which is a huge massive risk, but it beats the hell out of 500 percent.
He didn’t do that. He didn’t decide, hey, do you know what? Just to, again, kind of hedge bets, not only will I buy calls but I will also sell puts. So maybe I am buying the $15.00 calls and they are costing me money. But you know what I will do? I will sell the $5.00 puts (I am just picking these numbers out of the air), I will sell the $5.00 puts and that makes me premium, that’s just extra money. If the stock does what I want it to do, of course selling those puts, that’s going to cost me money, BUT I’m okay because I am already short the stock.
Now, I am losing money on buying the calls because they are going down as the stock moves in my favor so that’s a bummer. But I am a sophisticated guy, I know how to hedge, I know how to set up these ratios. I know how to set up these relationships so I can actually control my risk, manage my risk all along the way, one way or another. I am not going to go into detail on this, but it’s like a gamma squeeze, where a market maker who has to sell stock. They buy calls to cover their stock and it has a delta of 50, meaning each option that they trade actually controls the equivalent of 50 shares of the stock, between 50 and 100. It’s 100 shares that it actually controls but the delta determines, just mathematically, how many shares it actually controls with respect to the price movement.
So then if the stock continues to move higher those calls that the broker or market maker is in, that delta goes up to 70, which means if they were short at a delta of 50 then they are losing money when the delta goes up to 70 so they have to buy more stock. So they are constantly setting this balance between their option exposure and their stock exposure. And as the stock goes higher they have to buy more calls, which pushes the stock up higher even more. It is kind of like this feedback loop and that’s called a gamma squeeze because, not to be too into the weeds here on options but gamma, you’ve got the Black-Scholes formula, which coincidentally, was actually created by one of the brainiacs who was in long-term capital management, who almost blew up the world with their stupid hedge fund betting, where they couldn’t go wrong because they are all smart and several Nobel Laureates, very brilliant guys, it is amazing how dumb smart guys can be.
But anyway, what happens is, it’s a Black-Scholes formula, which is basically an options pricing model. So the delta reflects how many shares the option controls. When the delta goes up gamma is the symbol or the factor that actually controls the delta. So the greater gamma is the more delta is impacted by that; for you guys in the weeds, the best gamma is at the money option.
So that’s what’s been happening here and it was the same thing that happened with Tesla ( NASDAQ: TSLA ) for about the last 12 years. All of this stuff here, it was because SoftBank, run by that brainiac who invested in Adam Neumann’s barefoot tequila themed WeWork or whatever it is, I think now it’s “WeTank”, the guy decided, I can do this another way. He hired a hedge fund guy and the guy was doing gamma squeezes all day long; just buying way, way, way out of the money calls, forcing market makers to buy the stock in order to hedge their positions. Their stock buying pushed the stock higher. These guys would buy even more out of the money calls and it just kept going on and on and on.
Well, the unsophisticated folks like the traders on that Reddit WallStreetBets, they figured all of this out. And by the way, I am joking when I say unsophisticated; because you tell me, who are the sophisticated investors, the guys with their Robinhood accounts and cold pizza boxes on the floor in their mom’s basement or this multi-billion dollar hedge fund who is losing his “asterisk”? I would say the real sophisticated traders are the ones with the small accounts who are banding together saying, you know what? Wall Street, screw you. To me, that’s what this is really all about. It’s not GameStop ( NYSE: GME ).
Nobody really thinks that this company is worth what the market cap is right now, which is over 16 billion dollars. Nobody thinks that it is worth this. These “unsophisticated” investors, all they were looking at was short interest, and that’s really all that mattered. If there is literally no stock that you can sell, that’s only buyers remaining. And all it takes is a spark, lights up that powder keg, and boom, this is what you get. You get it on AMC ( NYSE: AMC ). You got it on Gogo ( NASDAQ: GOGO ), which we had on the Active Trade List for a short amount of time and then I am going, no, no, no, no, I don’t like the way this is trading.
So we come back to GameStop ( NYSE: GME ); this guy with no hedging whatsoever, decides that he is going to take a big short position in this stock. The retail traders see what’s happening and they say hey, let’s juice this stock. Everybody buy a thousand shares in a minute. And you know what? I don’t know all of the SEC rules, I know they only apply when the SEC decides when they want them to apply. That’s kind of really not illegal, that would be the same thing as me in the forum today saying, hey, I think you guys should buy such and such a stock right now. Oh, but it’s for the purpose of manipulation, and Dan, you are not trying to manipulate the stock, you are just trying to help us out.
Well fine, you could make the same argument for the folks in the WallStreetBets. So from a legal standpoint, this is a real problematic thing. What newer traders don’t realize is, this crap has been going on for decades. I remember I think it was in 1999, you’ve heard of a guy named Henry Blodget. A very reputable guy, he runs Business Insider. He’s on the side of the little guy, right? No, that guy was a broker, he is actually barred from trading in the markets. And the reason is, I think he was a broker or an analyst for, I think it was Merrill Lynch but don’t hold me to it and it really doesn’t matter. He was the guy who sent the famous email saying, we’ve got to put lipstick on this pig.
And what he was talking about was, we have got to upgrade this dog of a stock because we want retail traders to buy it so we can unload it. So this guy is about as scummy as they come but I am sure he is out there today riding on his white horse telling you how he’s all for the little guy. He’s not, none of these people are, none of them are. They are all trying to put money in their own pockets. And you know what? That’s okay too because so am I, so are you. Anybody who wants to sell me a stock that I want to buy, I am happy to take it from them because the stock is going higher. They might think the stock is going lower. Only one of us is going to be right. So it can be, between two parties, it can be a binary transaction. Somebody’s going to win, somebody’s going to lose.
But with respect to something like GameStop ( NYSE: GME ), the only way this stock works is if it’s on a level playing field if buyers can buy and sellers can sell. And so you’ve got this buffoon who is very, very short this stock. And his short position starts absolutely getting crushed, like nuclear thunder coming down on this guy. So what? Because if you want to buy the stock and you know you are crushing this guy, so what? This is a game that has also been played, I remember, I think in one of Cramer’s first books, he was talking about at Cramer, Berkowitz, I know he’s not the only one, by the way, he worked with Goldman Sachs before then, where do you think he learned this technique? These guys would, pre-market, start some rumor to juice a stock either up or down and then trade into it because they knew it was a rumor.
So this manipulation has gone on for a long, long time. But you and me, the unwashed masses, the people that know anybody on Wall Street, that shop on Main Street, we haven’t been connected in that way and we haven’t had the power that we do now in social media, we haven’t had that power to actually thumb our noses at the big guys and say, you know what? We’re on to your game and we are going to take the other side of that trade and we are going to kill you. Only now is this type of thing happening.
I sent out a tweet earlier today and I asked a question, and this is totally not political at all; I said what do Bitcoin, Brexit, Trump, and then this WallStreetBets, what do they all have in common? And of course, I get some typical Trump hater guy, blah, blah, blah. I don’t care about that, I am not talking about Trump, I am talking about the people that supported him. I am talking about people who thought Brexit was a good idea. I am talking about the people who think that cryptocurrency is a good idea. And I am talking about the people that are in that subreddit, WallStreetBets or just people that are trading along. What are they doing? All of these people are flipping the bird to the establishment, to the elites. That is really what’s been going on these days. I am not advocating for or advocating against Brexit or Trump or crypto or this. I am not expressing an opinion on whether these are good or bad things. I am just telling you that this is what I think. This is how I view this and I don’t think this is going away.
I was just watching CNBC, probably the biggest shill for the big monies, oh but they are out for the little guy. Some guy was saying this will go away, we’re not going to be talking about these stocks in 2 or 3 weeks from now. And he is right in that instance because it’s not about the stocks, it’s not about the stocks. It’s about the little guy finally being able to beat the big guy at his game. That is what this is about. And also, just in that guy’s defense, I forget who he was and don’t care, he was also kind of talking about this stuff in relation to the market in general. He was saying what is happening here ( NYSEARCA: SPY ) I don’t think really has an impact on the broader market ( NDEXDJX: .DJI ),( NASDAQ: QQQ ). It is just kind of an isolated thing, etcetera, etcetera. And I agree with that because it is strictly an isolated thing, where traders have seen this huge massive short interest and they are pouncing on it. Nobody is going to try to run up the price of Apple ( NASDAQ: AAPL ) or even some speculative tech company. They don’t care about the ticker, they care about the short interest. So this is just the news of the day because it is so absolutely unusual.
So what is really going on right now? Let me explain something to you. Robinhood earlier today, and you probably heard this, they basically stopped their clients from trading or from buying GameStop ( NYSE: GME ). They just shut it down and said the only orders that you can take or that they will take on GameStop ( NYSE: GME ) are closing orders. In other words, if your long GameStop ( NYSE: GME ) you can sell it, which by the way, drives the price down, but the only time you can buy GameStop ( NYSE: GME ) is if you are short and you are buying the stock to close the position. So the only people that can buy are shorts who need to cover. Not the only people that can sell, but if you own the stock you are the only person that can sell.
So what they are doing is, they are absolutely choking off the demand for this stock, to let the big guys get out. It’s like a football game between one team that has a great passing game and the other team supposedly has a great defense against the passing game. And then something happens, the team with the great defense, maybe they lose a guy or two, or whatever it is, there is only so far that I can go with this analogy, and so the team with the good passing game starts beating the snot out of them and is starting to run up the score. And the refs get together at halftime and say, hey guys, guess what? There’s a little change in the rules here, from now on in this game you can’t throw passes; it just has to be a running game. And then once the other team catches up, then they might change the rules again. But what they are doing is, they are just rigging the system in favor of this Melvin, and whoever else, it’s not the only one, it’s just the most high profile moron on the street.
And so why is this happening? Well, here’s the deal; so Melvin runs out of gas. They’ve got massive, massive losses. They are going to have to take a loan; they wish they could close their positions but then their kids aren’t going to get into the Ivy League schools that they had somebody else cheat on their SATs to get them in in the first place so they are really screwed. So they call up their good buddies at Citadel and they say, wow, we’ve got a problem here. And of course, Citadel says, yes, we do too but we’re bigger than you. And they say loan us some money. Loan us some money so we don’t have to meet our margin calls. Square us away man and in return we will give you some collateral, owners, non-voting shares in our company, just in cans we really explode, at least you have got something. And so Citadel makes that loan; they give them a big loan for this. Okay fine.
So gosh, the stock keeps going up. Well, guess what? Citadel, those epic people that do nothing more than show us how ethical everyone is in Chicago, with Ben Bernanke on their Board of Directors, another real prize. So they actually have a deal with Robinhood and some of the other firms but Robinhood is the most notable. And kind of because, believe it or not, some of the partners in Citadel are actually founders of Robinhood. Robinhood, that free trading app, where they take from the rich and give to the poor. They put the little guy on the same playing field, it’s a level playing field as the big guy. It sounds so great, I’m a Robinhood guy.
What they don’t know is, the flipping Sheriff of Nottingham, otherwise known as Citadel, is one of the big owners of Robinhood. And they pay Robinhood for order flow. Meaning you may think your trades are free but what’s really happening is, whatever trade you are making Citadel gets a look at it before you get executed, and they get to trade in front of you. This is all done algorithmically in a nanosecond multiplied by billions of transactions. So Citadel is making a boatload of money off of your free trades. So in this instance, when Mel is getting crushed, Citadel is getting crushed, they are really getting crushed by all of this. What do they do? They call up their buddies, they’re partners at Robinhood, and say, you know what? You have got to turn off the gas here. You have got to stop trading. You have got to make this deal, where nobody else can buy the stock. We have got to stop the stock from being pushed up, we have to. And so they say, okay fine.
Now, one argument, I saw Jon Najarian on Twitter said, “The thing is when they shut off the trading then Citadel doesn’t make money on order flows, so actually harming themselves.” I get that, and I like John, I respect the hell out of him, I haven’t talked to him about this. But it kind of seems to me like shutting off the order flow for a day or for a couple of hours or whatever, that would cause the stock to go from at one point almost $500.00 down to, I don’t know, 112.00, a 76 percent decline. And Citadel has an ownership interest in the decline of GameStop ( NYSE: GME ). I think they would be perfectly fine to shut down trading for a bit. So that argument, to me, doesn’t hold water, and that’s all I can say about that. Like I said, I like John and I think he definitely has a good point and I am not nearly as sophisticated as he is so I wouldn’t question him on that. I would just say, I will take the other side of that argument.
So that’s what they did, they shut this thing down. And then, of course, all of those fine folks on Robinhood that were long the stock, for mechanical reasons, because they knew the short interest was still high, it’s still there. They knew that; all of these guys are getting screwed. I mentioned this yesterday because I was trading GameStop ( NYSE: GME ). I couldn’t get a fill; I am trying to sell the stock, market order, market order, market order. And I wasn’t getting filled, I think I probably had about an 18 percent gain in my position. I was lucky to get out for flat. You can’t tell me that that wasn’t a manipulation by TD Ameritrade, because there were plenty of shares being traded. It was a market order; I get that in a fast market you kind of have to wait your turn, but it was a market order. You shouldn’t have to wait 5 or 10 minutes. So this is a manipulated stock without a doubt. It is an isolated thing but this isn’t really anything “wrong” with the market, unless you are a hedge fund who is kind of pissed about what’s going on.
But let me show you how this was trading today. And this is why I said yesterday, the way to be trading GameStop ( NYSE: GME ), I never thought I would say this on anything, the way to be trading GameStop ( NYSE: GME ), the safest way is pre-market. Because at least the stock actually moves in an orderly fashion. They are not screwing around with the order flow pre-market. It is only during the regular hours that that happens. But to be holding a position over into the regular trading day, that is just kind of madness. It just doesn’t work because that is when the institutions can screw you.
So look at the minute chart on this. Oh, it looks pretty good now, it’s trading okay. But look at it back here, this is what was happening. See all of these little lines, they are at like 4-5 minutes, all very, very symmetrical. Stop for 5-minutes, stop for 5-minutes, stop for 5-minutes, stop for 5- minutes. I think this was 6, no, this was 5 as well. There are all of these 5-minutes stops, there is probably some kind of circuit breaker regulation, we stop it for 5-minutes to give the market a chance to normalize. No, they stop it so that the short sellers who are losing their “asterisk” can start kind of moving their positions around a little bit. So they stopped this thing for a little bit of time then, bam, these guys can cover some of their positions. They are knocking the stock down to this level just before they close it.
Look at here, knock it down, then they close it, which isn’t that really weird when you think about it? Because if the stock is going to continue to go down and they want the stock to keep going, wouldn’t you think that they would leave the stock, just let it freely trade? No, they would rather do it in an organized fashion. Halt the stock and then have some buy to cover. And then the stock goes down, good, good, we want the stock to go down. Okay, stop it right there, let us figure out what we are going to do, boom, buy to cover. Here was the top, it’s a lot lower than it was here, good if you are short. The stock goes down, great, the stock is going down. Oh, here’s another big spike down, stop it. Trade, open, oh crap, it’s going down again, I will sell some more. It is all like in one block.
Again, this is a 1-minute bar chart and you can see these big spikes. These are all red skyscrapers, tall red skyscrapers. A little trade, sideways trade, open it, boom, cover some more, the stock goes down. Pause, boom, cover some more, the stock goes down. Until finally, the stock gets down to here, and then what happens? Now it’s going the other way. You’ve got cover, cover, cover, cover, and then finally, gradually the stock starts to trade, I guess you could say normally, but you can see, this is an absolutely manipulated market. It is not Robinhood stealing from the rich and giving to the poor. It is Robinhood stealing from the poor and giving it back to the rich because that is how Robinhood makes its money.
My point for going into this with you is just to explain a little bit about the markets. And this is the dark side of trading. This is the Death Star, stuff like this. The bottom line is, these institutions, the whole thing is rigged in their favor. This is why money is free, you will never see high enough interest rates whereas a retiree you are saying, you know what? I want my money in fixed income because I don’t want to risk it. No, you will never make money on that again because they have rigged it in favor of equities. They have rigged it in favor of the rich folks who can just keep putting money in equities, and you’ve heard about the Greenspan put, then it was the Bernanke put, then it was the Yellen put, and now it’s the Powell put. Lots of puts, meaning there is only a limited amount that the market can go down before the Fed steps in and stabilizes it. Why? Well, for two reasons; first of all, because the rich get really hurt when the market takes a big dump. And second of all, if the market really takes a big dump people are going to come at them with pitchforks. So we need the markets to be stable. It is a rigged game, absolutely.
Now, where does this leave us? I will tell you where it leaves us; it leaves us more educated, more experienced, more wise to the ways of the market, you may have made a boatload of money on this stock, but I am telling you this, it was luck. Because somebody else has lost a boatload of money. When a stock is so heavily manipulated it really is kind of the luck of the draw. Because anybody who is buying this stock, I am generalizing here but I don’t mean it in a bad way at all, if you are buying this stock it is very, very difficult if not impossible, to manage your risk other than saying I will take this number of shares. And if I lose 80 percent, I’m really okay with it. But you can’t manage your risk if the market is not freely trading, you just can’t. If the market does not trade freely it is impossible for you to manage your risk.
So what we need to do is, we need to have our program, and I am getting back to what I talk about all of the time, you have a methodology for stock selection. You look at the trend, you look at precise entries; I talk about those all of the time, I am not going to go into detail now. But all of the things that you are looking for are actually designed to decrease the volatility in your portfolio. To decrease the volatility; you don’t want a portfolio that is doing stuff like this, it’s really fun on the way up, but when this thing goes over, it doesn’t roll over, it implodes. And then if you are not careful, you are buying up here, then you are selling down here, because well, the position went down 75 percent. And then later you look at it and say, yes, but then it doubled from where I sold. That’s a really, really tough position to be in. So you are in this situation where you got in a stock and then only later did you say, oh, I have got to manage this risk.
The way to be managing your risk is before you get into the stock, not after. You need to know exactly how much you are risking before you get in. Exactly how many shares you are buying, where your stop is, and then what your expectation is. And you do that by monitoring what your typical performance is and then you stay within your own game. That’s the thing, you stay within your own game. You don’t deviate into some other trading activity because it looks fun. If you are doing that you are absolutely taking yourself off of your discipline. And your discipline is really the only thing that is protecting you from going completely bust. You have to have some discipline. This is, just to me, a great example of the upside of just Katie bar the door, let it fly, let’s buy us some stock. But it is also a good example of the downside if you buy at the high. It can be really, really high.
There is stock like Workhorse ( NASDAQ: WKHS ) that we were in. We just took some profits today on this. This isn’t attacked by Reddits, this is just a freely trading stock. It came out of a volatility squeeze, boom. We timed this really, really well and we got a really nice trade out of it. So stuff like this, Apple ( NASDAQ: AAPL ). Stuff like Microsoft ( NASDAQ: MSFT ). These are not the kind of stocks that are dangerous to trade like GameStop ( NYSE: GME ) type stuff, they are too liquid, they are very liquid. And even the illiquid mid or smaller-cap stocks, those aren’t the ones that are really going to be the attention of these market manipulators.
So what we want to do is, we want to be kind of trading away from the dangerous action. We don’t want to be on the battlefield when all of the bullets are flying downrange. We want to be in our own little arenas where it’s easier to make money. It is just easier to make money. Let somebody else run around with their hair on fire and the trumpets blaring. We want to just stick to what we do and do it over and over and over again. This is not the kind of trade ( NYSE: AMC ) that you want to be in. You are in it at $5.00, then two days later it’s up $20.00. And then at one point the following day you are down 67 percent. This ( NASDAQ: AMCX ), big massive moves. We want to stay away from these. But these are all manipulated markets. They are all manipulated markets right now. It is literally like the worst of Wall Street, the absolute worst of Wall Street. And the reason you are seeing it in full display is because they have no choice. They literally have to say, you know what? Typically we do this crap under the radar, nobody really talks too much about it but we don’t have that choice now. We just have to slam this thing and get this thing done or we are going to lose our home at Martha’s Vineyard or the Hamptons or wherever these scumbags go-to vacation when they are not dodging rioters in New York City, or whatever is happening there.
I just wanted to explain that to you so that you kind of had my take on it. This is just the way I think. It’s just the way I see it. This is a trade ( NYSE: GME ) that is over. Now that they are stepping in and they are saying wait a minute little guys, we’re taking away your toys. You need to get out of here and just be thinking about this, let the other people rail against the big guys. Let the other traders who are saying hang onto GameStop ( NYSE: GME ), screw them, let’s put it to them, just hang on. I am not a trader with a mission, I am not trying to prove a point. I am not trying to slay any dragons, I just want to make some money and I want to teach you how to make money. This is gambling, this is the downside of gambling, right here. This is the upside of gambling, here, seeing stuff like this happen. There are a lot of upsides here but there are a lot of downsides too, a lot of downside.