Scott W

@CNBC CBOE writing headlines for CNBC now?

Michael Burry dumped his entire stake in GameStop after the company’s audacious bid for eBay, saying the deal’s heavy leverage shattered the investment case he had been building. “I sold my entire GME position,” Burry said in a Substack post late Monday. “Any which way I sliced it, the Instant Berkshire thesis was never compatible with >5x Debt/EBITDA, never ok with interest coverage under 4.0x ... As a result, GME is the first sale since I started this Substack.” Read more from Burry: cnb.cx/4eyMu3v

@TheUltimator5 Can't wait to try this out!

If anyone decides to try it out, please give feedback if you want. I want to make it use friendly and something that is actually useful

While the document isn't complete yet, I figured I would share it anyway so people can at least play around a bit for themselves... This is a google drive link. If you are concerned about privacy, open an incognito window and access through there. drive.google.com/file/d/1AUNa0J…

@SECGov @SECPaulSAtkins I bet the rest of the world would LOVE to criminally manipulate securities via complex options trades on the CBOE at sub-regulatory detection thresholds while the regulators work furiously to cripple the evidence contained in the CAT. Dark pools were always a distraction.

Chairman @SECPaulSAtkins: "It's often said that the American capital markets are the envy of the world. And they are." 🇺🇸

@larryvc Value. It's like a train without brakes. An unstoppable asteroid. The inevitable. The power of will.

$GME

@TheUltimator5 x.com/i/status/20514…

Burry pissed that Ryan Cohen didn’t go after one of the hand picked companies he offered after purchasing an undisclosed number of shares? Pissed enough to sell his entire stake immediately? (If he had one) Wall St. plant? Entitled?

@michaeljburry You rode the coat tails of a 20 year old conviction to dump like a bear stearns coward at the first sign of turmoil. Perhaps you should have played yourself in the big short instead of Christian Bale.

GameStop Makes Its Play $56 Billion for eBay, Makes Perfect Sense open.substack.com/pub/michaeljbu… $GME $EBAY

@Malone_Wealth Say it with me....... "Gamma"

@TheUltimator5 Not sure if you're being serious or facetious. Either way I laughed my ass off.

T+1575 $GME

@Malone_Wealth Every chance I get, dawg!

@KatieMiller @elonmusk Didn't the NFL do this in 2015 by paying taxes on assets? Still dirty either way though.

Sam Altman said today that he’s concerned @elonmusk will drop his lawsuit. Sam is cooked and he knows it. The lawsuit raises a foundational point: In America, you cannot convert a non-profit into a for-profit corporation. If a court allowed it, non-profits across the country would be permanently corrupted. Organizations could raise hundreds of billions of dollars tax-free by promising to serve humanity only to later become a for-profit company, destroying the integrity of the entire non-profit system.

@SECPaulSAtkins @TheEconomicClub Why try to reinvent the wheel when you can copy it from South Korea? Or literally any other country outlawing naked short selling.... The SEC needs analysts and statisticians to interpret evidence and data. The rest of the world already knows. What's taking you so long?

It was great to be at @TheEconomicClub of Washington D.C. today to discuss the significant progress made this past year at the SEC. Under my leadership, the SEC will continue to ensure that the U.S. remains the best and most secure place in the world to invest and do business.

@TheUltimator5 The biggest issue is that the regulators don't know how to analyze it. We need to protect and preserve this data until the regulators can figure out how to use it. The SEC really needs analyst and stat talent to leverage the data.

@TheUltimator5 I disagree. CAT captures the complete life cycle of orders, quotes, modifications, cancellations, and trade executions for all NMS stocks and OTC equity securities, along with listed options, across U.S. markets.

The SEC is asking for public comments regarding an overhaul of the CAT system. They effectively say that they don’t know what data they should be collecting, that the data collection/storage is too expensive, and don’t know if their system is secure enough and needs help with the future direction. Their lack of confidence got me thinking… who developed CAT and does it even do anything? The answer is that the SEC told the exchanges (NYSE, Nasdaq, FINRA) to develop a plan to submit all reportable trades back in 2012 under rule 613. That means the exchanges told the sec how they would report and the SEC simply gave the green light. It’s weird that the SEC doesn’t even know what data they want, unless they are having trouble doing anything with the data they currently receive, which leads to the next and main question: Does it even do anything??? Answer: not really CAT is ineffective because the SEC doesn’t regulate or capture where manipulation actually occurs. The SEC can capture and analyze every trade, but that tells nothing without additional information. Here are few examples: 1) Naked trades. CAT doesn’t capture the holdings of broker/dealers when trades execute, so nothing will flag a trade if it is made naked. Their only method is through FTDs, which are delayed and can be abused. 2) multi-jurisdictional trades. A large amount of manipulation happens when equities, futures, commodities, etc… are used together in baskets pr as hedges against each other. The $GME bonds for example, are not tracked by SEC, but by FINRA through TRACE reporting. Qualified contingent trades against those bonds are only captured by CAT from the equity side, and an effort needs to be made to retrieve the bond side data in order to make a call on whether it is valid or not. The same happens to basket swaps and other types of swaps. The CFTC regulates futures, so the two need to make an effort to work in coordination in order to find wrongdoing. There is no single system that matches everything up to say that a trade is good or that manipulation hasn’t occurred, and this is by design. As is, the CAT reports simply log trades, and it just overloads their data centers with raw numbers that can’t do anything of they aren’t paired against other things, which CAT doesn’t capture, or that the SEC doesn’t regulate. When there is no centralized database which monitors everything, it is impossible to effectively discipline bad actors since something outside of each separate entity needs to flag manipulation. Each regulator can confidently say that they find no evidence of manipulation since the evidence requires them to share the data, which they don’t necessarily do. Each regulator can additionally act in good faith and still say they find no evidence of manipulation. The system was designed that way to overcome individuals who actually have good intentions. In the end, all we see are aggregate numbers of trade reporting errors for each given day, which can be analyzed little bit, but gives no meaningful information.

@TheUltimator5 It records granular details, including the time (in milliseconds), the broker-dealer involved, and the specific customer account.

@TheUltimator5 You did an excellent job with it, brother! Directly injecting fun into a chart.

@ScottWitte9 Dumb money 😂 Love to see it

$25 $GME calls are a problem today. Even $24 calls are a problem. Sell pressure heavy

@Malone_Wealth x.com/i/status/20448…

@SECPaulSAtkins x.com/i/status/20447…

@SECPaulSAtkins This might actually be one of the most important instances for public comment to support retail in years. If you're as angry as me with the SECs incompetence, please comment on the importance of preserving and expanding the CAT. It's the smoking gun for institutional fraud.

Over the last year, the SEC has made meaningful progress to reform the CAT and strike a better balance between regulatory use, costs, funding, and security considerations. But we can and must do more. Public comment is a crucial piece of the comprehensive review. More below ⬇️

@SECPaulSAtkins The consolidated audit trail is anything but burdensome. It is transparency. It allows retail to see the illegal price fixing by market makers via options just below regulatory agencies detection ability. The SEC has been informed of this with evidence. They are guilty.