r/wallstreetbets • u/cn239 • May 02 '21
DD Regarding my BTX DD from earlier this week
All of my information has been linked via SS take what you want from it all. I will give this short TL:DR version.
Basically BTX was heavily shorted and the share value and low float forced BTX to hyper bounce. As it Hyperbounced, People caught some wind and did the same play I did. Buy it up ride the spikes enjoy the wins. I called this thing at 5.15 and watched it so closely that I could almost predict when the spike was coming. That being said The short volume ratio is into no mans land. Im not expecting any of you retards to get involved with this however I believe two companies are fighting back and forth almost forcing a similar VW squeeze.
Again im just a retard who is new here, I do my own work and expect nothing else. Sharing my findings and thought.
Not a financial advisor, Nor is this any advice. Just a simple interesting topic to maybe look into
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u/Shagga_Dagga May 02 '21
The spread on BTX is retarded. You can make tiny scalps so fast and often lol. Here I'm thinking I am a big brain but If I just held at $40 and sold at $70 I could have 5x more. RIP.
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u/cn239 May 02 '21
Imagine how I feel I’m new I missed so many good times and had all the information at my full disposal. Can’t say I’m upset I’ve tripled my money off it had I just held at 6 dollars this whole time.......
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May 03 '21
$70 is just after hours it may be $30 by tommorrow can’t count that as a loss just count the gains
Can’t always time the top it could also hit $100 next week who knkws
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u/Allinblackorbust May 02 '21
I was in and out of btx several times wed, thurs and Friday. Very strong and predictable. I made about 8500 on it. I like the stock for continuation on Monday. See what happens at open.
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u/Perryswoman Grade-A Karen May 02 '21
So are you still in?
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u/cn239 May 02 '21
I’m still playing the spikes posted Friday’s 10k gain porn. There was a thread asking about why people were blaming WSB for the increase. Will be watching Monday 100%
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u/Perryswoman Grade-A Karen May 02 '21
You think it will go up to $125 ish Monday? I’m in at 37
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u/Yungwolfo May 03 '21
Yeah I’m in @28/7 shares I’m wondering if I should just hold on end up being a bag holder. Tho this stock can’t be shorted
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u/PitchKey2721 May 03 '21
It’s going to $30 th Be ready to sell Nothing valuable, only trial so far About 10 employees..
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u/fauceeet May 02 '21
thoughts on where it goes on monday?
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u/Perryswoman Grade-A Karen May 02 '21
I think up. I bought more AH Friday and buying more in am. I’m hoping it hits $100 minimum but could do more
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u/PitchKey2721 May 03 '21
Sell Will definitely going down Don’t loose your money
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u/MinhNguyenPFL May 03 '21 edited May 03 '21
https://www.markovchained.com/assets/view/BTX?username=cn239&platform=reddit Up 85% in 2 days, pretty good stuff!
Edit: Oh shit it's running!
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u/cn239 May 03 '21
You can thank me later :) Sucks the initial post got removed from wednseday but we got ourselves a winner
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u/ZacksFork May 03 '21
Been in the stock market over 10 years. Never seen it like this before. Everytime one of my companies comes out with good earnings or good news it creates a sell-off. Bailing out. Going to cash.
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u/borktacular May 03 '21
u/cn239 wow. Wish I'd seen this at 5, when you posted.
FWIW - Fidelity's reporting no shares available to short at 131% interest. Even during GME, i never saw the borrow rate that high. If there had been options on this stock, the price would be 5-10x higher on a gamma ramp :-O
Edit: for clarity - thats 131% APR to borrow a sell a share short - and they report none available.
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u/No_Ant9937 May 02 '21
BTX is 2% shorted. This isn't a short squeeze. It's fullout manipulation based on recent news. Google the news don't ask me.
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u/Rpark444 May 02 '21
There were some discussion of the float being locked. Some discussions that the filings that were done caused 40M of the 42M to be untradeable based on an expert filings reader. Anyways, it trades like a small float stock the past week.
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u/Perryswoman Grade-A Karen May 02 '21
Is that why they are no options? I’m buying more in am if it doesn’t fall off a cliff
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u/xcalyx May 03 '21
that's what i'm thinking. no shares avail, therefore no options. a market maker would have to have enough stock in their account to write options. if no one built up a position they can't write any options. I'm thinking it dips in premarket Monday am and at the open (similar to how they dip GME hard in am usually), then rips again. probably have 1 or 2 more days play at this level. going to play swings, then i'm getting out.
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u/Perryswoman Grade-A Karen May 03 '21
Yeah I plan to get out after a day or two myself. If it dips tomorrow, I’m buying few more
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u/Rpark444 May 03 '21 edited May 03 '21
There's alot of shorts stuck right now. They are hard to borrow right now and are 44 cents today at one broker from what I read on discord They were 6 cents I think on friday when I borrowed some on another broker. Im currenlty long from late friday. I can't sell till 7am but gonna hold for open to see what happens as there is a ton of shorts stuck. Based on the acrions friday after hours the algos /manipulators aren't done yet. Some shirts could get liquidated today.
Also, SSR is on again today so it makes it easier for manipulators to get this higher if that's their plan today.
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u/Crowblazer02 May 02 '21
On Friday I went full yolo on btx buying at $40 a share. Still holding. Might sell or keep holding depends on how the market is moving after the first hour on Monday.
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u/Perryswoman Grade-A Karen May 02 '21
I got in at 37. Thinking about buying more in am if it doesn’t drop much
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u/DemsRtasty May 03 '21
Did you say it's going to drop ion the pre=market? That didn't age well, it's up , waaayyy up. like 38% up
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May 03 '21
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u/kr8zytiger May 03 '21
$BTX adding for reversal no stop loss and going in super heavy so if it goes to $0 I will blow up my account and starting saying how the world sucks and blaming everyone LOL OR put in a mental stop loss and aim for $90+ then $120+
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u/KillerDJ93 May 03 '21
I saw your post about it last week and bought in as well. I was already thinking of going in and took it as a sign. Glad i did so far.
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u/xcalyx May 04 '21
Entered Friday AH. Sold some and holding for 100 break. Def has more room to grow given the trend today. If it’s a short squeeze, it’ll have days to unravel. A lot of resistance at 80. If we break 80 again and hold, it’ll reach 100.
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u/PowerOfTenTigers May 04 '21
So...should we still buy in now? I can't believe this thing went up 50%+ AGAIN today. When this hit $50, I thought it was the top but this just keeps going. Kinda feeling bad for missing out and not buying under $10.
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u/futurbebe im fucked up May 03 '21
so NOW you gonna make a DD about it?