End of Day Wrap Up 01/28/2021

by Eye Love Gains · Published January 29, 2021 · Updated February 3, 2021

Retail Traders v. Wall Street

Today was an upsetting day for many traders who owned GME, AMC, NOK, NAKD, SNDL, CTRM, EXPR, BBBY, BB, KOSS, TR, TRVG, and many others. It is a day I will remember for a long time, but not because the hedge funds came out in full force. It is not about being shorted; which many people assumed was the issue. The problem was Robinhood, along with other brokerages including but not limited to Charles Schwab, TD Ameritrade, Webull, Interactive Brokers and others decided they would restrict the buying of the stocks mentioned.

Robinhood sent out a tweet, linking to their blog which reads:

TD Ameritrade retweeted Charles Schwab’s post to their Twitter followers:

The spokeswoman for TD Ameritrade stated that they made the decision “out of an abundance of caution amid unprecedented market conditions and other factors.”

Webull restricted the following tickers:

Interactive Brokers tweeted:

So the Bloodbath Begins

Premarket started promising with most positions opening green. Everything came crashing down once the market opened. There’s being shorted, which is fine… and then there’s the issue of not being allowed to actually BUY any of the stocks mentioned above. The only option was to SELL, and that’s the issue. “Retail traders” weren’t allowed to buy, but the big institutions were free to do as they please to manipulate the stock prices. The double standard is why this created a huge upset, and it should make us mad.

Why This is a Big Deal To Me

I wasn’t able to buy AT ALL at the lowest point in my Webull account, and that upset me DEEPLY. Those who follow me on twitter know I always buy big dips when I set up my positions or add to current positions. Stocks fall if no one buys, and the fact that they controlled others’ ability to buy should not be legal. Luckily, I was able to still buy in TD Ameritrade, so I caught nearly every big dip. Had they restricted me, I would’ve rolled my money to a new brokerage and encouraged others to take a stand as well. We should be able to control how we choose to spend OUR money. They have no right to take that right away from us, PERIOD. The ability to buy at the huge sell off point could have helped those that bought too high to average down, and get out of their positions safely. It could allow people who wanted to enter at the low to freely do so, but that didn’t happen.

A New Movement Was Created As People Began to Speak Up

While we were drowning in the bloodbath they created, many people from Robinhood were closing their accounts and moving their money out. People were calling their brokerages nonstop demanding they lift the restrictions. Us the people pushed the big institutions to get with the program. Today’s investors and traders are more intelligent and vigilant, and we won’t allow anyone to mess with our money in the midst of this pandemic. Together we are powerful, so powerful that, of course, social media movements were created under the tags #deleteRobinHood #cancelRobinHood #dumpRobinHood and many others.

My Disappointment with Some Large Furus

To my amazement, many larger furus chose to be silent while all of this was happening. It upset me to see their followers ask what to do because they’re new to the market. They didn’t understand what was happening, and I used to be them. It upset me because they could have spoke up, but they chose to ignore the problem, and go about their day as though nothing was happening. It’s their right to do nothing, but what is the point of it all if you can’t help guide them as to what you would do if it was you. I was infuriated by those who posted gains because tons of people lost their money, not because of anything they did, but because of what the brokerages did by not allowing people to buy, yet big institutions were allowed to reload their short positions, causing the stocks to plummet. I just think there’s a time and place, but once again, they are free to do as they please. Some furus openly admitted to opening short positions, and that was truly disappointing. It’s beyond money at this point, it’s about us uniting as traders to prove a point. Once again, they are free to do as they please, but I’m all about the principle.

They Won the Battle, But We’ll Win the War

I am sitting with pretty large positions going into tomorrow and next week. Together, we will take back what they took from us. Together, we will show hedge funds, that us everyday people are stronger in numbers. We can overtake them if people would simply buy and hold. We can do this, but only if we do this together.

Top 10 Green Positions (1/28/21):

SNDL
LMFA
NVAX
NAKD
GHSI
NXTD
CTRM
BTDG
OCGN
NAK

Top 10 Red Positions (1/28/21):

AMC
GME
NOK
OXBR
NTN
SRNE
POLA
PLL
AQMS
AHT

Today’s Top 3 Highlights:

The battle between everyday traders vs. Wall Street continues to be the catalyst for tomorrow and into next week. We shall see where tomorrow’s Premarket takes us.

As always, if you made some massive gains from any of my stock picks, be sure to support your local and small businesses. Check out which business I supported next here. Be the change you wish to see in the world. Believe it or not, we can make a difference in keeping these businesses open!

-Cheers

Disclaimer : This should not be considered investment advice, and should not be used to make investment decisions. Do not buy or sell any stock without conducting your own due diligence. Information on eyelovegains.com is opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts and data provided here are not meant for investment purposes and only serve as examples. We are not liable for any losses you may endure from the buying and selling of stocks or securities within your accounts.

Eye Love Gains

Anna is the face behind Eye Love Gains. Her passion for helping Entrepreneurs, Small Business Owners, Traders, and those struggling to rebuild their lives is the key motivation behind eyelovegains.com.