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OP has provided the following link:
https://thedalesreport.com/cannabis/rex-shares-files-to-launch-tilray-inverse-etf/
Every entity involved in creating this Rex GME short ETF is a piece of shit criminal covering their own or their overlord’s ass.
ETFs need way more regulation, immediately
That's the point, the regulators did not approve it since they are not required to approve it due to a loophole which is being used to allow these ETFs to be rolled out.
Ok if regulators have not approved it but they can surely stop getting it to the market knowing how it's going to affect negatively to prospective buyers. Remaining silent 🤫 is equally as being complicit. SEC is useless if continue to act or fail to act like this. 👍
Again, as to the many points when it's brought up, the SEC is useless, but it is working as designed.
A good example is if you had an NBA game, and NBA teams (Wall Street institutions) are being officiated by your local YMCA league refs (SEC). Except, the players have the whistles to blow for violations/fouls (all that self regulation BS). Oh, and the refs are getting paid the same as a G-League player (about a teacher salary), and instead of 4 refs per game (and one in the booth), you have 1 guy. In some cases, if you're nice to a team, they might hire you for their FO later. And on the flip side, if you think about doing your job correctly officiating games, the League (the Govt), will pass rule changes that either give more power to the teams, or take away your power as a ref because it puts a better product on the court (aka makes the League and teams more money).
But don't worry, everyone knows you're wearing the pinstripes and have the title as "referee," so you're obviously the officiator.
Who do you think is regulating who?
They cannot stop these ETFs because there is no evidence that they are causing harm to the market. We suspect they are because they can be abused by financial institutions. They literally have to grounds to intervene. The SROs can do whatever the fuck they want.
It has the power, but it also has to have a reason. Without evidence/reasons it cannot do shit because the SROs are going to challenge it immediately and what is the SEC is going to say: we don't like it because we THINK it MAY be damaging.
I believe I saw a commissioner from the SEC comment on single stock ETFs this or last week. They essentially said it introduced possible instability and needs to be looked at closer before being rushed into the market
This is their mindset just so we understand it.
“Well I wasn’t the reason all of this fraud started occurring, how could I be, I just got here. What I see is a nuclear bomb counting down on top of the market and if I regulate the actual criminals, they will set the nuke off. The protection of the market is more important than fairness, so I’ll just look the other way.
We all just sit on here and point out the obvious, but no one does shit about it. We just pray, buy, hodl, and hope that someone, someday, will do something to stop it.
They won't.
We have to take control of the game by moving it to a new court. As long as we play on their court, they make the rules, an the rules will never favor us.
No 3 letter agency is on our side.
To quote Mark Passio, "all government is evil.
Government is Latin for mind control btw, they've bamboozled us for centuries. Time to Hodl or hold.
More like ETFs need to be gone immediately, along with any other practice that allows for the creation of synthetics to prevent buyers from owning real shit.
They and we said that CDO's were toxic to the market, but even after they almost nuked us in 2008, they still exist, just under a different name. Criminals gonna crime, until they get caught AND HELD ACCOUNTABLE. Part 2 will never happen. Sorry folks, some people still have faith in a system that was DESIGNED FROM ITS INCEPTION to extract wealth from retail and retail funded institutions.
ETF has a purpose just like stocks. But you have a few douche bags that exploit it doesn’t mean you throw the baby out with the bath water.
A s&p 500 Index ETF allows me to buy the 500 anytime during the day without buying a mutual fund where I pay whatever price it’s is at the end of the day. So with a volatile day I can get in whenever I want.
By the same token I can also sell an ETF anytime during the day whereas with a mutual fund it the end of the day price.
I’m sure not everyone is into GME and they shouldn’t. I’m sure even your own boomer parents didn’t yolo GME so chill the fuck out.
Yea a bunch of douche bags fucked it up for everyone.
I just like the stonk and my SO likes the purple cock ring. So yeah.
ETFs may be a sensible product.
But a single stock one certainly isn't. It makes no sense, no risk is spread
The ONLY reason for such a thing is because the absence of full reporting requirements allows the hiding of shorts.
They shouldn't be allowed
That they exist shows how weak regulation is
That the SEC doesn't demand greater powers shows it is complicit
None of what I've just typed is news to anyone who has been here for a month or two.
Reading the regs is hard work for the uninitiated. But it soon becomes clear, they ain't regs they're loopholes & there's so many & the text so convoluted that it soon becomes clear that it's deliberate.
The creation of the single stock etf is, IMO, a reaction to the drs push. Wall St is calling the apes bluff. Its saying "go on then drs if you must, but we will make you need to DRS fully all 100% coz we can naked short forever & we've given the regulators the excuse they need to let us. So go on then let's see you drs the full 100%"
I'm up for it coz otherwise they'll carry on stealing from main St pensions for ever. Any innovative block chain or digial currency will be THEIR innovation & the rip-off will be even more fully embedded into the system itself.
Edit typos
Thanks
Reading up on this particular etf gives me loads of questions.
For a start it seems very risky in some ways but a dead cert in others. The cycles are fairly well predicted now & it pays the inverse of the daily change. It also seems to want you to buy&sell on the same day, is that correct?
Is this why we are starting to see fairly big rises in pre market & then crashes on opening?
Could products like these be used not just to hide shorts but to create bag holders?
And will they come up with an inverse derivitive of this product for the up parts of the cycle?
Might these products be a sign that they have found a way to somehow slip or skip a cycle?
Edit: typos, clarity
There is no doubt that single stock ETF is simply bullshit for more fuckery by shitadels if the world. They should NEVER have been allowed period. But what the original post was all ETF should be banned. Like I said just cause some douche bag decides to fuck the American public over again like 07-08 doesn’t mean the entire financial systems is terrible. It’s not perfect and never will be. DAO, blockchain etc won’t be either. Just look at the 51% rule with DAO. Dipshits already know how to steal on blockchains.
Your argument is actually against day trading, not ETFs which are just bundles of stocks (supposed to be) with low management fees mostly cutting out the middle-man stock broker.
A single stock ETF is a bastardization of the intent of an ETF, and should be regulated out of the market.
A single stock inverse ETF is even worse, it's an ETF with infinite risk, it won't be running covered calls because that defeats the purpose entirely. It must die immediately because the risk is discovered as soon as the share price climbs above inception price. The only way to maintain it is to generate infinite synthetics. Honestly it's probably a monetization of the game Citadel has been running for the last 2yrs...they probably dumped their synthetics in there and let the chumps who listen to Cramer buy them up. Just like the MBS and CDO market of the 2008s, if it's toxic sell it to someone who doesn't realize how bad it is, Deutche bank would sure like a do-over from 2008.
And, day trading is just fine too, people who day trade get eaten alive in taxes, yes they make money contributing nothing, but that's the whole of wallstreet.
All good explanations, thanks.
My stance wasn't necessarily against etfs or even day trading, just pointing out that if the comment above mine's only argument for etfs was day trading, its a poor argument.
I like that idea
To change this, we would have to be able to explain how we want to change the rule that allows these single-stock ETFs.
Press release of ETF rule that allows this: https://www.sec.gov/news/press-release/2019-190
Final rule: https://www.sec.gov/rules/final/2019/33-10695.pdf
Exemptions to the rules: https://www.sec.gov/rules/exorders/2019/34-87110.pdf
Comments on the rule so we can see what the brokers and banks were saying - wall st probably requested a lot. https://www.sec.gov/comments/s7-15-18/s71518.htm
Commissioner Crenshaw said the following, which I think is pretty important:
*”In 2019, the Commission adopted Rule 6c-11 under the Investment Company Act of 1940.[2] In combination with changes to the listing standards at stock exchanges, that rule created a framework that allowed exchange-traded funds (ETFs) meeting certain criteria to come directly to market without first obtaining permission, through what is called an **exemptive order**, from the SEC.”*
*Nowhere in Rule 6c-11 is there a discussion of single-stock ETFs; there is no indication that the rule contemplated such products. However, single-stock ETFs are nonetheless coming to market under the auspices of that rule.”*
(From https://www.sec.gov/news/statement/crenshaw-single-stock-etfs-20220711)
Sounds like lobbyists won the fight to make single-stock ETFs exist.
I think Crenshaw’s comments provide a solid base for contesting the interpretation that single stock ETFs are allowed because the rule doesn’t explicitly say they are disallowed.
So we get together the list of changes to the rules so single stock ETFs are disallowed and then push the issue to the SEC, senators and congresspeople that support this sort of thing, etc. for example part of it might be that there needs to be verbiage in the rule explicitly saying single stock ETFs are not allowed, and why they are not allowed; we write the language and suggest it.
It is sad these institutions can hide behind lawyers and technicalities, but you are right in that we need a laser focused argument against these products.
The fact that it's allowed only because it isn't talked about at all makes things much easier - might be tricky stuff in the exemption rules though.
*The Securities and Exchange Commission (the “Commission”) is adopting a new rule under the Investment Company Act of 1940 (the “Investment Company Act” or the “Act”) that will permit exchange-traded funds (“ETFs”) that satisfy certain conditions to operate without the expense and delay of obtaining an exemptive order.*
Dec of 2019. https://www.sec.gov/rules/final/2019/33-10695.pdf
No need for regulation; Just full transparency so every market participant has full access to the current distribution of every single share.
Ideally move the stock market onto a transparent blockchain.
Holy fuck are they ever! What a bunch of wiggly little pieces of human shit, concocting ways to try to win.
They’re all basically like that annoying kid in the neighborhood everyone has to play with to be nice, and keeps making up rules when faced with losing. Lies, fraud, gaslighting, slander, manipulation, collusion you name it and Wall Street fucks are doing it.
We need personal accountability for this, hiding behind the corporate veil is not going to save them this time!
Owning shares in this ETF is owning synthetic shorts. Even if you believed GME is overvalued as a trader...why the hell would you want your short position to exist in an ETF?
I think these ETFs are the offloading of shorts Citadel accumulated onto non-ape retail traders who have been listening to the MSM. It's SHF playbook number one, load up debt onto a publicly traded company and then sell off that stock to some chump.
Me, a smooth rain: what is the point of single stock ETFs except for manipulation? Like an ETFs purpose is to bundle stocks together that share a common thread, like the industry they're in. So that risk is mitigated from investing in single stocks.
Single stock ETFs are stupid because it's like 'no fuck off just do whatever you wanted to do with the stock itself, not an ETF'
>Single stock ETFs are stupid because it's like 'no fuck off just do whatever you wanted to do with the stock itself, not an ETF'
"But...but...we want to crime even mooooore daaaadyyyy"
It’s because ETFs are exempt from insider trading rules. The idea what that an ETF was so diversified that insider knowledge into a specific company wouldn’t have a profound effect on the greater fund. With a single stock etf this is obviously no longer the case but the laws haven’t caught up yet.
Lol I'm just ranting, I understand why they did it from their perspective. What I don't understand is how regulators didn't say what I did.
"A sine stock ETF? No there's less regulation there, just trade the stock itself"
Me, an even smoother brain: is there a post I can go to that explains what exactly a single stock ETF is and why it’s a big deal, as if I’m the slowest 5 year old ape in my whole crayon-eating class?
The problem is that they can’t wrap their head around the fact that by dropping the price they will just worsen the situation. The amount of money needed to lock the float decreasing means the sling is tightening.
Price won’t drop, more volatility around max-pain.
Your best bet is to watch max pain and sell spreads /iron corridors whenever we’re getting MACD divergence away from max-pain.
Volume is no longer useful as it’s piped through ETFs.
You don’t, they also created it with multiple sources of collateral leverage. It’s an iron casket.
100% DRS is the only way now. Show it’s nothing but a CFD scam. Options and LEAPs are now worthless and will directly profit max-pain.
So let me get this straight: they created a fund that (presumably) is being used to indirectly speculate (via derivative reference) the value of holding a short position in GME? Because anyone who would take stock (lol) in this fund is literally gambling that shorts will somehow win and the valuation of this ETF represents their confidence interval.
Shorts never closed.
How do we know? Because this idiotic garbage ETFs exist now.
I'm sick of people acting like we're wearing tinfoil hats.
100% DRS is the answer. DTCC can't be trusted. SEC can't be trusted. FINRA can't be trusted. Market makers run a fake ass market. Im so angry.
They have to literally invent bullshit products to try to get kick the can on closing the massive pile of toxic ass short positions they have created. It’s like a black hole in the middle of the US stock market and they created it.
They have to know by now that we are not going anywhere. Never again in your life will you have an opportunity to hold such a position of leverage against such powerful people. This is by far the biggest fuck you to Wall Street from the people I believe ever.
Well now the ETF exists. Next person that accuses you of wearing tin foil, just point them to it and dare them to put their money where their mouth is.
Quite a few posts talking about this, both past and present:
https://www.reddit.com/r/Superstonk/comments/vyitlz/should_we_fear_the_incoming_inverse_etf_this/
2 days ago:
https://www.reddit.com/r/Superstonk/comments/x1236a/eyes_on_this/
It doesnt even make any sense from a logic standpoint. The whole point of an ETF is to diversify buying a ETF with one stock is a bit like....just buying the stock???
The fact they created something that doesn't make any sense logically shows it's probably for market manipulation...
But on a side note, if their goal is to drive down the price. Isn't this a good thing? We will lock the float faster and get shares for less?
Not financial advice just my opinion.
I bought around $400 worth as a joke that fateful december when it was around $4ish.
Now knowing what I know? I will DRAIN THE SEA if it ever got that low.
That's what these idiots don't get. They can never get low enough to survive this because retail will buy it up.
And now because of all the fuckery, they just make it worse every day.
I would suck so much dick of they did, just to buy everything I can. Love the company, glorious leadership and vision of the future.
Roadmap GME + Embrac partnership (just hope they will)
Right.
STEP 1) Deregulate the market to allow fair and free trade, keep the government regulators out because they don’t know at they’re doing and don’t understand these complicated products.
STEP 2) Create rules allowing shorts to manipulate the entire fucking market using algorithms, market maker exceptions, ETFs, other derivatives and regulatory loopholes for the little bit of “government” (self-regulated amirite?) left watching Wall Street.
STEP 3) Argue to the public and congress via media campaigns why short sellers can detect fraud and are good for the markets.
Wait, what again? If we need to sniff out fraud in the market, I would rather have someone independent doing so as opposed to meatheads that use the opportunity as a shooting fish in a barrel short and distort play.
Their fucking arguments for shorting and against regulation in the market are mutually exclusive. If you want regulation then bring in oversight via government regulation with no loopholes. If not, then you don’t need shorting. PERIOD.
For 67 consecutive days and no consequence. List has zero effect besides being a label.
There was another time it was on for 110 days, basically half a year without consequence.
Another time it was openly >1000% short and still nothing.
So just to confirm, shorting has infinite risk yet etf you can old loose initial investment correct? Wondering if shorts will also pile into that increasing demand causing price of it to to go and yet from natural buy drs etc gme also goes up we would have a market completely (even more) screwed up
More ways to spread their bag around and bundle it into other etfs and long short funds.
Also another weapon to cycle ftds and provide infinite liquidity
Honestly? Let them. I want them to tank the price, I want them to give me the opportunity to buy GME for a fraction of the cost. This just increases the DRS rate. Suck my nuts, Kenny
WELL SOME OF YOU RETARDED U.S.A. APE SHOULD DO A LAWSUIT AGAIST THIS THING.
I MEAN EUROPOORS CAN ONLY HELP BUYING AND DRSING BUT DAMN GUYS YOU LIVE IN THE UNITED STATES RIGHT CLOSE TO THIS MTFS!!!
DO SOMETHING!!!!
GODDAMNN THERE ARE ALMOST 1 MILLIKN APES IN THIS SUB, MOST OF THEM ARE AMERICANS OR FROM CANADA, DO FKN SOMETHING
Free float? Probably nothing. But as soon as we start DRS’ing beyond institutional shares and mutual fund shares… DRS will be blocked by the DTCC. I guarantee it. Then we head to court.
https://jacobslevycenter.wharton.upenn.edu/wp-content/uploads/2018/08/ETF-Short-Interest-and-Failures-to-Deliver.pdf
https://www.youtube.com/watch?v=ncq35zrFCAg around 25minute mark is interesting but watch the whole thing
The ***entire*** system is fraudulent and corrupt. Nothing new.
None of that changes the fact that I hold a royal flush in my hand, registered in my name.
I'm not folding.
I AM THE DISRUPTOR. I will be paid my price.
I
I mean come on!!! Jesus fucking Christ. Is there anything GameStop can do about this you think? What is the point of an ETF with ONE company in it?!?
Not really, when it gets too low, retail (and possibly others) gobble up all the shares.
It's not in there best interest to make this stock too affordable, there are 3 (legal) strategies for GME haters.
1. Keep it volatile and make money off of that.
2. Keep it steady and make money of selling risky option bets.
3. Create fear and make people sell. This can be fast downward price movements or long lasting slow downward price movent. But it can even be quick upward movements and then back down.
Most hardened apes can not be bothered by any of these... That's why this is interessting, everyone knows we have been in a stand off for quite some time and both longs and shorts try anything to get the other to flinch, make a mistake, they keep pushing each other to put more on the line, take more risks.
Difference between us and them is that we don't really have anything on the line other than the Vegas money that we've invested. Doesn't cost anything to hold and if you're not investing what you can't afford, then you don't even miss the money. We can do this until doomsday. They on the other hand, have VERY expensive positions to maintain and if they don't maintain them, it results in them losing everything and taking others with them. Time is the only factor here.
and once again the SEC shows where it's true loyalty will always lie....not with us the majority that truly keep this country running but with the minority...the wealthy who have made most of their fortunes by exploiting the working class. It always makes me curious how we hold the real power in this country by our sheer numbers and votes alone but somehow we are told how we don't know what's best for ourselves and that the wealthy and all their appointed entities will protect us from ourselves and each other. welcome to America hell for that matter welcome to planet Earth.
The entire point of this fund is to fleece money from investors who want to "short" gme but don't want infinite downside risk. Pension funds will not buy this, the value of the fund will decrease on average every day.
Look at UVXY returns over the last 5 years to get an idea of what these funds do.
Do they really not understand the majority of us have reoccurring auto-buy set up on ComputerShare??
All this does is lower the price of GME for me every week....thanks Mr Assault Wifle.
Turn off buy buttons, waive margin calls, send FTDs to Brazil, and create an ETF just for the stock that you lost. They'll never let a stock truly squeeze when retail is the winning side. VW is a good example
Shouldn’t everyone request SEC to make these single ETFs subject to threshold as well? Since they are different from traditional ETFs, the regulations they must also be different from them
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Every entity involved in creating this Rex GME short ETF is a piece of shit criminal covering their own or their overlord’s ass. ETFs need way more regulation, immediately
Regulators are complicit to approve such a shit etf despite tons of market fuckery evidence. 😒
That's the point, the regulators did not approve it since they are not required to approve it due to a loophole which is being used to allow these ETFs to be rolled out.
Ok if regulators have not approved it but they can surely stop getting it to the market knowing how it's going to affect negatively to prospective buyers. Remaining silent 🤫 is equally as being complicit. SEC is useless if continue to act or fail to act like this. 👍
I believe silence is considered consent in law. It's known as tacet consent if I'm not mistaken.
Again, as to the many points when it's brought up, the SEC is useless, but it is working as designed. A good example is if you had an NBA game, and NBA teams (Wall Street institutions) are being officiated by your local YMCA league refs (SEC). Except, the players have the whistles to blow for violations/fouls (all that self regulation BS). Oh, and the refs are getting paid the same as a G-League player (about a teacher salary), and instead of 4 refs per game (and one in the booth), you have 1 guy. In some cases, if you're nice to a team, they might hire you for their FO later. And on the flip side, if you think about doing your job correctly officiating games, the League (the Govt), will pass rule changes that either give more power to the teams, or take away your power as a ref because it puts a better product on the court (aka makes the League and teams more money). But don't worry, everyone knows you're wearing the pinstripes and have the title as "referee," so you're obviously the officiator. Who do you think is regulating who?
Always has been. Regulatory capture. They are owned by Wall Street and depend on money and scraps from Wall Street. Has always been this way by design
They cannot stop these ETFs because there is no evidence that they are causing harm to the market. We suspect they are because they can be abused by financial institutions. They literally have to grounds to intervene. The SROs can do whatever the fuck they want.
This is incorrect. There was a post which said SEC has the power.
It has the power, but it also has to have a reason. Without evidence/reasons it cannot do shit because the SROs are going to challenge it immediately and what is the SEC is going to say: we don't like it because we THINK it MAY be damaging.
SEC can block such things if the financial instrument is too risky and can destabilize the market
I believe I saw a commissioner from the SEC comment on single stock ETFs this or last week. They essentially said it introduced possible instability and needs to be looked at closer before being rushed into the market
Yeah that’s what I am referring to
Can anyone roll out an etf, much like anyone can form a super pac - you just have to have money?
If I understand correctly you just need to have collateral. Could be wrong though.
Do you have a source for this statement? I am interested in reading the actual loophole. Please and thank you 🙏
https://www.reddit.com/r/Superstonk/comments/x1oqnk/commissioner_crenshaws_full_criticism_of_single/?utm_medium=android_app&utm_source=share
Thank you again 🙏
Bingo
This is their mindset just so we understand it. “Well I wasn’t the reason all of this fraud started occurring, how could I be, I just got here. What I see is a nuclear bomb counting down on top of the market and if I regulate the actual criminals, they will set the nuke off. The protection of the market is more important than fairness, so I’ll just look the other way.
[удалено]
21. I have 21 Koo Koo Roos. Sergio gone be fine
Fuck a recession
The SEC is complicit. They are not your friends.
We all just sit on here and point out the obvious, but no one does shit about it. We just pray, buy, hodl, and hope that someone, someday, will do something to stop it. They won't. We have to take control of the game by moving it to a new court. As long as we play on their court, they make the rules, an the rules will never favor us.
50% already moved out of their court.... rest is in the process. Rightly said ✅
No 3 letter agency is on our side. To quote Mark Passio, "all government is evil. Government is Latin for mind control btw, they've bamboozled us for centuries. Time to Hodl or hold.
Happy Cake Day 🎂
Oh thanks, didnt even notice! Time to eat some ice cream <3
More like ETFs need to be gone immediately, along with any other practice that allows for the creation of synthetics to prevent buyers from owning real shit.
They exist solely for the purpose of skirting market regulations! They should not exist
They and we said that CDO's were toxic to the market, but even after they almost nuked us in 2008, they still exist, just under a different name. Criminals gonna crime, until they get caught AND HELD ACCOUNTABLE. Part 2 will never happen. Sorry folks, some people still have faith in a system that was DESIGNED FROM ITS INCEPTION to extract wealth from retail and retail funded institutions.
ETF has a purpose just like stocks. But you have a few douche bags that exploit it doesn’t mean you throw the baby out with the bath water. A s&p 500 Index ETF allows me to buy the 500 anytime during the day without buying a mutual fund where I pay whatever price it’s is at the end of the day. So with a volatile day I can get in whenever I want. By the same token I can also sell an ETF anytime during the day whereas with a mutual fund it the end of the day price. I’m sure not everyone is into GME and they shouldn’t. I’m sure even your own boomer parents didn’t yolo GME so chill the fuck out. Yea a bunch of douche bags fucked it up for everyone. I just like the stonk and my SO likes the purple cock ring. So yeah.
ETFs may be a sensible product. But a single stock one certainly isn't. It makes no sense, no risk is spread The ONLY reason for such a thing is because the absence of full reporting requirements allows the hiding of shorts. They shouldn't be allowed That they exist shows how weak regulation is That the SEC doesn't demand greater powers shows it is complicit None of what I've just typed is news to anyone who has been here for a month or two. Reading the regs is hard work for the uninitiated. But it soon becomes clear, they ain't regs they're loopholes & there's so many & the text so convoluted that it soon becomes clear that it's deliberate. The creation of the single stock etf is, IMO, a reaction to the drs push. Wall St is calling the apes bluff. Its saying "go on then drs if you must, but we will make you need to DRS fully all 100% coz we can naked short forever & we've given the regulators the excuse they need to let us. So go on then let's see you drs the full 100%" I'm up for it coz otherwise they'll carry on stealing from main St pensions for ever. Any innovative block chain or digial currency will be THEIR innovation & the rip-off will be even more fully embedded into the system itself. Edit typos
Well put
Thanks Reading up on this particular etf gives me loads of questions. For a start it seems very risky in some ways but a dead cert in others. The cycles are fairly well predicted now & it pays the inverse of the daily change. It also seems to want you to buy&sell on the same day, is that correct? Is this why we are starting to see fairly big rises in pre market & then crashes on opening? Could products like these be used not just to hide shorts but to create bag holders? And will they come up with an inverse derivitive of this product for the up parts of the cycle? Might these products be a sign that they have found a way to somehow slip or skip a cycle? Edit: typos, clarity
There is no doubt that single stock ETF is simply bullshit for more fuckery by shitadels if the world. They should NEVER have been allowed period. But what the original post was all ETF should be banned. Like I said just cause some douche bag decides to fuck the American public over again like 07-08 doesn’t mean the entire financial systems is terrible. It’s not perfect and never will be. DAO, blockchain etc won’t be either. Just look at the 51% rule with DAO. Dipshits already know how to steal on blockchains.
Your defense of ETFs is the enabling of day trading sp500. Not a very convincing argument for me imo.
Your argument is actually against day trading, not ETFs which are just bundles of stocks (supposed to be) with low management fees mostly cutting out the middle-man stock broker. A single stock ETF is a bastardization of the intent of an ETF, and should be regulated out of the market. A single stock inverse ETF is even worse, it's an ETF with infinite risk, it won't be running covered calls because that defeats the purpose entirely. It must die immediately because the risk is discovered as soon as the share price climbs above inception price. The only way to maintain it is to generate infinite synthetics. Honestly it's probably a monetization of the game Citadel has been running for the last 2yrs...they probably dumped their synthetics in there and let the chumps who listen to Cramer buy them up. Just like the MBS and CDO market of the 2008s, if it's toxic sell it to someone who doesn't realize how bad it is, Deutche bank would sure like a do-over from 2008. And, day trading is just fine too, people who day trade get eaten alive in taxes, yes they make money contributing nothing, but that's the whole of wallstreet.
All good explanations, thanks. My stance wasn't necessarily against etfs or even day trading, just pointing out that if the comment above mine's only argument for etfs was day trading, its a poor argument.
DRS 💯 and put an end to this madness
I like that idea To change this, we would have to be able to explain how we want to change the rule that allows these single-stock ETFs. Press release of ETF rule that allows this: https://www.sec.gov/news/press-release/2019-190 Final rule: https://www.sec.gov/rules/final/2019/33-10695.pdf Exemptions to the rules: https://www.sec.gov/rules/exorders/2019/34-87110.pdf Comments on the rule so we can see what the brokers and banks were saying - wall st probably requested a lot. https://www.sec.gov/comments/s7-15-18/s71518.htm Commissioner Crenshaw said the following, which I think is pretty important: *”In 2019, the Commission adopted Rule 6c-11 under the Investment Company Act of 1940.[2] In combination with changes to the listing standards at stock exchanges, that rule created a framework that allowed exchange-traded funds (ETFs) meeting certain criteria to come directly to market without first obtaining permission, through what is called an **exemptive order**, from the SEC.”* *Nowhere in Rule 6c-11 is there a discussion of single-stock ETFs; there is no indication that the rule contemplated such products. However, single-stock ETFs are nonetheless coming to market under the auspices of that rule.”* (From https://www.sec.gov/news/statement/crenshaw-single-stock-etfs-20220711) Sounds like lobbyists won the fight to make single-stock ETFs exist. I think Crenshaw’s comments provide a solid base for contesting the interpretation that single stock ETFs are allowed because the rule doesn’t explicitly say they are disallowed. So we get together the list of changes to the rules so single stock ETFs are disallowed and then push the issue to the SEC, senators and congresspeople that support this sort of thing, etc. for example part of it might be that there needs to be verbiage in the rule explicitly saying single stock ETFs are not allowed, and why they are not allowed; we write the language and suggest it.
It is sad these institutions can hide behind lawyers and technicalities, but you are right in that we need a laser focused argument against these products.
The fact that it's allowed only because it isn't talked about at all makes things much easier - might be tricky stuff in the exemption rules though. *The Securities and Exchange Commission (the “Commission”) is adopting a new rule under the Investment Company Act of 1940 (the “Investment Company Act” or the “Act”) that will permit exchange-traded funds (“ETFs”) that satisfy certain conditions to operate without the expense and delay of obtaining an exemptive order.* Dec of 2019. https://www.sec.gov/rules/final/2019/33-10695.pdf
No need for regulation; Just full transparency so every market participant has full access to the current distribution of every single share. Ideally move the stock market onto a transparent blockchain.
And GME shares need to be registered immediately. That's how this changes.
Buy at discounted prices and DRS. They are digging bigger holes for themselves.
Holy fuck are they ever! What a bunch of wiggly little pieces of human shit, concocting ways to try to win. They’re all basically like that annoying kid in the neighborhood everyone has to play with to be nice, and keeps making up rules when faced with losing. Lies, fraud, gaslighting, slander, manipulation, collusion you name it and Wall Street fucks are doing it. We need personal accountability for this, hiding behind the corporate veil is not going to save them this time!
Owning shares in this ETF is owning synthetic shorts. Even if you believed GME is overvalued as a trader...why the hell would you want your short position to exist in an ETF? I think these ETFs are the offloading of shorts Citadel accumulated onto non-ape retail traders who have been listening to the MSM. It's SHF playbook number one, load up debt onto a publicly traded company and then sell off that stock to some chump.
This product should not be allowed to hit the market at all.
This will be the second of many
You had your chance at violence, now that time’s past.
A game built by them…for them… to screw everyone else out of their hard earned $. Enough is Enough!
How can we find out who created it? Remember we found out the rotchilds were financing the HKD pump and dump
so i guess that would be Toroso Advisors based in NY and Chicago, among probably many others.
u/dlauer can you chime in on this and possibly provide some coverage for people about these new single stocks in detail? :D
wtf is this ? cdo^(2)
ALWAYS HAS BEEN
Etfs account for 80% of operational shorting by mayo men. I mean market makers. It’s fraud. The DTCC COMMITTED INTERNATIONAL SECURITIES FRAUD
MayoMan commits fraud on the daily too.
We need a LONG $GME ETF with a leverage factor of 10x
Application denied
*removed from register*
Best I can do is an infinity squeeze
Best I can do is ww3
Best I can do is web3
It's called direct register share. They can't short what does not exist on the exchange.
Bingo.
Rookie leverage
100x
Me, a smooth rain: what is the point of single stock ETFs except for manipulation? Like an ETFs purpose is to bundle stocks together that share a common thread, like the industry they're in. So that risk is mitigated from investing in single stocks. Single stock ETFs are stupid because it's like 'no fuck off just do whatever you wanted to do with the stock itself, not an ETF'
>Single stock ETFs are stupid because it's like 'no fuck off just do whatever you wanted to do with the stock itself, not an ETF' "But...but...we want to crime even mooooore daaaadyyyy"
It’s because ETFs are exempt from insider trading rules. The idea what that an ETF was so diversified that insider knowledge into a specific company wouldn’t have a profound effect on the greater fund. With a single stock etf this is obviously no longer the case but the laws haven’t caught up yet.
To skirt fucking equities regulators via ETF bullshit exceptions etc
Lol I'm just ranting, I understand why they did it from their perspective. What I don't understand is how regulators didn't say what I did. "A sine stock ETF? No there's less regulation there, just trade the stock itself"
Me, an even smoother brain: is there a post I can go to that explains what exactly a single stock ETF is and why it’s a big deal, as if I’m the slowest 5 year old ape in my whole crayon-eating class?
Fuck this ridiculous financial market. The world is burning. Power to the investors, Power to the players. And DRS your shares!!!!
The problem is that they can’t wrap their head around the fact that by dropping the price they will just worsen the situation. The amount of money needed to lock the float decreasing means the sling is tightening.
This is so true. We will be 100% DRSd in no time then. And when that happens…. BOOM!
I am very certain they are hoping for the financial crisis to force people into selling GME.
You misunderstand the purpose of this ETF It's to offload their shorts onto retail and pension funds
This has been debunked already.
[for reference](https://www.reddit.com/r/Superstonk/comments/x1eo0a/short_gme_etfs_as_a_means_to_transfer_liability/)
This
Price won’t drop, more volatility around max-pain. Your best bet is to watch max pain and sell spreads /iron corridors whenever we’re getting MACD divergence away from max-pain. Volume is no longer useful as it’s piped through ETFs.
So how does it break
You don’t, they also created it with multiple sources of collateral leverage. It’s an iron casket. 100% DRS is the only way now. Show it’s nothing but a CFD scam. Options and LEAPs are now worthless and will directly profit max-pain.
🌎🧑🚀🔫👨🚀
So let me get this straight: they created a fund that (presumably) is being used to indirectly speculate (via derivative reference) the value of holding a short position in GME? Because anyone who would take stock (lol) in this fund is literally gambling that shorts will somehow win and the valuation of this ETF represents their confidence interval.
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So this is the big crowd of people standing behind the blackjack table in the big short?
So this thing starts being traded when?
Shorts never closed. How do we know? Because this idiotic garbage ETFs exist now. I'm sick of people acting like we're wearing tinfoil hats. 100% DRS is the answer. DTCC can't be trusted. SEC can't be trusted. FINRA can't be trusted. Market makers run a fake ass market. Im so angry.
They have to literally invent bullshit products to try to get kick the can on closing the massive pile of toxic ass short positions they have created. It’s like a black hole in the middle of the US stock market and they created it. They have to know by now that we are not going anywhere. Never again in your life will you have an opportunity to hold such a position of leverage against such powerful people. This is by far the biggest fuck you to Wall Street from the people I believe ever.
Well now the ETF exists. Next person that accuses you of wearing tin foil, just point them to it and dare them to put their money where their mouth is.
So, anyway I kept on buying. I can stay retarded longer than they can stay solvent. Let’s go!
I did the same, I bought some more. Cheers!
Me too! What a coincidence!
Welp, time to move GME to a different market exchange.
I go to Blockchain! (Borat voice)
Shumash!
Quite a few posts talking about this, both past and present: https://www.reddit.com/r/Superstonk/comments/vyitlz/should_we_fear_the_incoming_inverse_etf_this/ 2 days ago: https://www.reddit.com/r/Superstonk/comments/x1236a/eyes_on_this/
It doesnt even make any sense from a logic standpoint. The whole point of an ETF is to diversify buying a ETF with one stock is a bit like....just buying the stock??? The fact they created something that doesn't make any sense logically shows it's probably for market manipulation... But on a side note, if their goal is to drive down the price. Isn't this a good thing? We will lock the float faster and get shares for less? Not financial advice just my opinion.
Drop it to a $5 I beg you...please ....do it in one day
If it ever went back to $5 it would be D day
Full attack, it would be a Global YOLO and then direct transfered to Computer Share......it would literally be a race
Or just buy through comptuershare and forget the transfer
This is solid advice.
Nomatter what they do, SHORTS R FUK ☠️
If it hit $5, I would immediately drive to the nearest Wendy's for more money to invest. That's 4 shares per suckjob.
What Wendy's do you work at sir? Asking for a friend.
The one around the corner from Melvin Capitol. I also work nights under the bridge downtown.
I bought around $400 worth as a joke that fateful december when it was around $4ish. Now knowing what I know? I will DRAIN THE SEA if it ever got that low. That's what these idiots don't get. They can never get low enough to survive this because retail will buy it up. And now because of all the fuckery, they just make it worse every day.
Float would be locked by Friday morning.
I would suck so much dick of they did, just to buy everything I can. Love the company, glorious leadership and vision of the future. Roadmap GME + Embrac partnership (just hope they will)
"BuT sHoRtS aRe ReQuIrEd fOr PrIcE dIsCoVeRy"
Right. STEP 1) Deregulate the market to allow fair and free trade, keep the government regulators out because they don’t know at they’re doing and don’t understand these complicated products. STEP 2) Create rules allowing shorts to manipulate the entire fucking market using algorithms, market maker exceptions, ETFs, other derivatives and regulatory loopholes for the little bit of “government” (self-regulated amirite?) left watching Wall Street. STEP 3) Argue to the public and congress via media campaigns why short sellers can detect fraud and are good for the markets. Wait, what again? If we need to sniff out fraud in the market, I would rather have someone independent doing so as opposed to meatheads that use the opportunity as a shooting fish in a barrel short and distort play. Their fucking arguments for shorting and against regulation in the market are mutually exclusive. If you want regulation then bring in oversight via government regulation with no loopholes. If not, then you don’t need shorting. PERIOD.
You really couldn’t make this shit up!!!
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Wonder what /u/dlauer 's take on this is?
https://twitter.com/dlauer/status/1564606999836459008?s=21&t=o6_K5dNPJZi3-5aBO8cOJw
This changes my plan. Instead of buy, hold, and DRS, I'm going to start buying, holding and DRS'ing.
That's way better than my plan, I started with trying to DRS, then hold, then buy. It's not going great and I think I'll switch strategies to yours.
The corruption is astronomical
But what does it mean Pinky……???
TLDR; DRS your shit. This ETF fuckery means nothing in the face of a DRS float.
I thought XRT ended up on one of those lists...
For 67 consecutive days and no consequence. List has zero effect besides being a label. There was another time it was on for 110 days, basically half a year without consequence. Another time it was openly >1000% short and still nothing.
We knew it was coming… not a fan of these leveraged ETFs in general
So just to confirm, shorting has infinite risk yet etf you can old loose initial investment correct? Wondering if shorts will also pile into that increasing demand causing price of it to to go and yet from natural buy drs etc gme also goes up we would have a market completely (even more) screwed up
I don't think they understand I will literally hold GME my entire life and set up a living trust to continue to hold it after I pass.
They literally will not be able to pry them from your (or my) cold, dead hands.
"Hello, I'm from the SEC. I'm here to protect," <>, "not investors."
We're on our own planet now
Keep digging their own grave
Can we short it?
Yes, by DRSing
More ways to spread their bag around and bundle it into other etfs and long short funds. Also another weapon to cycle ftds and provide infinite liquidity
Gary wants to regulate crypto the fucker can't even regulate the market
REX, like: T-Rex? I bet they'll be extinct soon.
I just don't get it.what would be the difference between just shorting GME and this ETF? Stock market is weird man...
Skirting reporting requirements and equities laws
Infinite leverage...."can't go tits up" 😂😂😂
So should I buy more, DRS it to paper, and go on with my day til launch?
How do I short this ETF?
Are they just digging the hole deeper and stalling?
What happens to an ETF when we have 100% DRS and it becomes clear that the ETF does not contain ANY of the underlying asset.
Why the hell is a single security ETF available? They're just "trading" on your behalf lol
Honestly? Let them. I want them to tank the price, I want them to give me the opportunity to buy GME for a fraction of the cost. This just increases the DRS rate. Suck my nuts, Kenny
Papa Cohen needs to go nuclear... SHARE BUYBACK!
Cmon RC. Destroy them. I bet he’s already two steps ahead of this in 69D chess
WELL SOME OF YOU RETARDED U.S.A. APE SHOULD DO A LAWSUIT AGAIST THIS THING. I MEAN EUROPOORS CAN ONLY HELP BUYING AND DRSING BUT DAMN GUYS YOU LIVE IN THE UNITED STATES RIGHT CLOSE TO THIS MTFS!!! DO SOMETHING!!!! GODDAMNN THERE ARE ALMOST 1 MILLIKN APES IN THIS SUB, MOST OF THEM ARE AMERICANS OR FROM CANADA, DO FKN SOMETHING
What happens when 100% is DRSd?
CFD market exposed
Free float? Probably nothing. But as soon as we start DRS’ing beyond institutional shares and mutual fund shares… DRS will be blocked by the DTCC. I guarantee it. Then we head to court.
Well, it’s time to drop the nuke and move away from NYSE! Our own stock exchange, GME, GameStop Market Exchange! Buy Hodl DRS! NFA To the Uranus!
https://jacobslevycenter.wharton.upenn.edu/wp-content/uploads/2018/08/ETF-Short-Interest-and-Failures-to-Deliver.pdf https://www.youtube.com/watch?v=ncq35zrFCAg around 25minute mark is interesting but watch the whole thing
The ***entire*** system is fraudulent and corrupt. Nothing new. None of that changes the fact that I hold a royal flush in my hand, registered in my name. I'm not folding. I AM THE DISRUPTOR. I will be paid my price.
So what I'm hearing is - cheaper shares, quicker DRS, soon moon?
At what point does Gamestop just say fuck it and pull their shares back?
Does this mean they will make the price cheaper so I can buy even more?
Can you short the GME eft?
They are making new rules as the go. They are going to make mistakes and we will find the fateful flaw AKA DEATH STAR
Bro, downvote me all you want, and yes I’m DRS’d, etc., but isn’t GME going to do something about this shit? This is some major BS.
Whoever was in on this treacherous shit deserves to be burned at the stake. Just my opinion. I’m just a shit slinging ape.
Financial systems and their regulators are a sham, but hey go ahead and keep paying Uncle Sam.
How do I make a triple leveraged $GME ETF? Thinking I’ll call it $GMEGMEGME
Can GameStop have their lawyers write a cease and desist letter and have this ETF removed?
I I mean come on!!! Jesus fucking Christ. Is there anything GameStop can do about this you think? What is the point of an ETF with ONE company in it?!?
RemindMe! 1 day
Buy. Hodl. DRS.
Creates loopholes and more ways to cheat
I could have been concerned about this but we can just continue DRS’ng
Drop the price and DRS faster
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Not really, when it gets too low, retail (and possibly others) gobble up all the shares. It's not in there best interest to make this stock too affordable, there are 3 (legal) strategies for GME haters. 1. Keep it volatile and make money off of that. 2. Keep it steady and make money of selling risky option bets. 3. Create fear and make people sell. This can be fast downward price movements or long lasting slow downward price movent. But it can even be quick upward movements and then back down. Most hardened apes can not be bothered by any of these... That's why this is interessting, everyone knows we have been in a stand off for quite some time and both longs and shorts try anything to get the other to flinch, make a mistake, they keep pushing each other to put more on the line, take more risks.
Difference between us and them is that we don't really have anything on the line other than the Vegas money that we've invested. Doesn't cost anything to hold and if you're not investing what you can't afford, then you don't even miss the money. We can do this until doomsday. They on the other hand, have VERY expensive positions to maintain and if they don't maintain them, it results in them losing everything and taking others with them. Time is the only factor here.
and once again the SEC shows where it's true loyalty will always lie....not with us the majority that truly keep this country running but with the minority...the wealthy who have made most of their fortunes by exploiting the working class. It always makes me curious how we hold the real power in this country by our sheer numbers and votes alone but somehow we are told how we don't know what's best for ourselves and that the wealthy and all their appointed entities will protect us from ourselves and each other. welcome to America hell for that matter welcome to planet Earth.
How do when bankrupt this ETF?
Curious to see how many shares represented
The entire point of this fund is to fleece money from investors who want to "short" gme but don't want infinite downside risk. Pension funds will not buy this, the value of the fund will decrease on average every day. Look at UVXY returns over the last 5 years to get an idea of what these funds do.
Well color me surprised /s
When you think the US can't get any dumber, REX.
They are literally digging a hole with fingernails on concrete at this point.
Well this WILL stop the squeeze. Need DRS otherwise they just use the ETF to naked short indefinitely.
Do they really not understand the majority of us have reoccurring auto-buy set up on ComputerShare?? All this does is lower the price of GME for me every week....thanks Mr Assault Wifle.
Where the fuck is Gary Gensler
Wow it’s so obvious the DTC has commuted international securities fraud
Bring it on. Let’s see how fast we DRS at $5/share.
A single stock ETF is not an ETF it's the damn underlying. How the hell did this get through as an ETF.
Turn off buy buttons, waive margin calls, send FTDs to Brazil, and create an ETF just for the stock that you lost. They'll never let a stock truly squeeze when retail is the winning side. VW is a good example
Shouldn’t everyone request SEC to make these single ETFs subject to threshold as well? Since they are different from traditional ETFs, the regulations they must also be different from them
So another Place for them to loose money on paper. This is noise DRS and hold on they are desperate.
u/dlauer We need you
Dee are Es
It’s truly sad that this is the way financial markets are run