Posted on 02/02/2021 6:29:54 AM PST by RomanSoldier19
Stocks were rising Tuesday amid positive stimulus and vaccine news, while the GameStop trade appeared to run out of steam.
The Dow Jones Industrial Average rose 238 points, or 0.8%. The S&P 500 futures rose 0.8% and the Nasdaq Composite was indicated to open up 0.75%.
On Monday, President Joe Biden met with Republican lawmakers to discuss their $618 billion stimulus plan, one that would include $1,000 direct payments to households. Democrats, meanwhile, are cooking up a $1.9 trillion proposal. More stimulus means more money for consumers to spend and more cash for small businesses to rehire workers for when Covid-19 vaccines reopen states.
Sentiment around the vaccine appears to be getting better as well. A vaccine produced in Russia was 92% effective, while more Americans have been vaccinated against Covid-19 than have caught the virus.
The Reddit trade also appeared to be over. GameStop (GME) has dropped 40%, while AMC Entertainment (AMC) is off 31%. The market, it would seem, is starting to behave normally.
(Excerpt) Read more at marketwatch.com ...
The peasants almost got past the moat!
Not surprised. Last week was like riding a rollercoaster.
Groundhog Day all over again....................
Looking at chart, at the moment it gapped down from 220 to 130, but its not clear that it will continue to “tumble” or if it will bounce up. Its still has not gotten down to the 20 dollars or so it used to have before this stuff started.
40 kills the GME shorts.
9 kills the AMC shorts.
We are talking the amount of overkill here.
Gamestock just traded @ $103 and dropping like a rock. Many will not make it out alive.
I have Exxon. Hope it goes to 400 a share. Lol.
Exactly. I hope Jacob Moonshine's story lulls the overlords to sleep, while GME hovers around 100 (at 113+ right now) until every last one of these mega shorts is squeezed by the b____s.
SLV just traded under $25 and dropping hard.
There never was any shortage. Just in coins/collector bars.
over at WSB they are still talking up the buy on GME now that it is dropping like a rock.
So the price going lower kills the shorts? HUH?
$2000, then $1400, now $1000. Eventually we will owe Uncle Joe!
The Empire Strikes Back.
I’m glad I got out at $350.
There will never be a shortage of paper silver.
“Order is restored” == “The Empire Strikes Back”
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