There is a prevailing mis-understanding among people fresh to the market that you can buy and sell as much as you want at the "market price." This is false. You are buying and selling from real people or algorithms that believe they can scalp your order. The idealized scenario is that GME rallies, Melvin covers, and everyone at reddit gets out at the top. This represents a misunderstanding of market mechanics. Melvin will cover before we truly know it, and the crash will happen as quick as the rally.
So with recent events, you must ask yourself:

Who is Your Counterparty?

Nothing is a sure bet. How confident are you that your counterparty is who you think it is? Thousands of redditors & new traders beyond have been buying stocks fully confident that Melvin Capital hasn't exited their trade. This is also supported by some analysis provided by two different firms, although their estimates differ some amount. Confounded in this is the interpretation of the data: Does this include market makers and dealers that are short stock but covered with calls or options deltas? Is their information fully accurate in an event the likes of which has never happened? It's tough to know for sure.

Know Everyone's Hand

Your guess on how much they've covered and when they covered has a massive effect on how you perceive the value of this trade. Buying if you think Melvin has $10b notional to cover is a much better bet than if they only have $2b to cover. You also have to consider how much notional the rest of the market has bought in anticipation of a squeeze. The difference between the two represents your effective edge.
Remember, we don't actually know Melvin's current position. We don't know what's going on behind closed doors. We only know the hand they're showing us via media. Has their clearing firm taken over? Has a much bigger collection of firms absorbed the position? Have they been buying since Monday? Have they covered and have new funds entered the space at a much better level?
You are fighting Goliath at a poker table in the city of Gath. The pot is worth $25 billion dollars. Ken Griffin has never lost. Melvin's prime brokers Morgan Stanley, Goldman Sachs, Deutsche are not used to losing (well, Deutsche is). They will do whatever it takes to take the pot from you and leave you holding the bag. They will not blink twice because there is a lot of fucking money on the line.

Know What Can Go Wrong

Nobody could have guessed everything that happened this week. Prepare yourself for the unexpected. Your brokerage will undoubtedly close out your position at the worst possible time. The stock could be halted for days. You could be assigned on ITM options. Your stock could get delisted. Your stock may get diluted.

Only Spend What You're Willing to Lose

This one is self explanatory. Your investment could go to zero. Even if you think you make money on every trade, if your bet size is 100%, the long term value of your portfolio is zero.

Don't Take Out Loans on Emotional Capital

If you are new, you really don't know the gut-wrenching, stomach-turning feeling of seeing the possibility of your net liquidity hitting zero or negative. It fucking sucks. You just know the highs. You're buying along the speculative frenzy and frantic rallies, wrapped in anti-billionaire & pro-underdog themes. It may even feel good to think that a guy who cut his teeth at a firm notorious for an insider trading scandal is getting his comeuppance. We love the feeling. If you are fully invested financially & emotionally, you are completely overleveraged and will pay the price. Make feeling good your goal, and set limits that you can stomach.
There are several feel-good stories of people making life-changing money to pay off their student loans or their family members' surgeries. Please think twice about this, and only spend what you can afford to lose. If placing a bet makes the difference between your pet living or dying, you may have a gambling problem. These were success stories because they got in at a much better level and could have had a much sadder ending.
Secondly, don't take it personal. There are people on the other side of your trades, your brokerage support line, the subreddit, the media. They are all playing their own hand to the best of their knowledge. It's easy to blame a broker, yell at their support desk, hate-tweet at a company, or even rage-text that guy you know who develops APIs at ETrade. A lot of people across the industry are rooting for you. Fuck, even Ted Cruz and AOC are rooting for you, because this transcends politics. If you're mad at Melvin Capital or Ken Griffin or the guys who crashed the economy in 2008, keep it that way. They will try and misdirect your anger in every single direction: brokerages, the media, and reddit. If your enemies are a few guys at the top holding a $25b short position and moving levers, keep it that way.
Thirdly, if you don't want to be a human being for the sake of the person on the other side, be a human being for your wallet's sake. You make better financial decisions in the absence of emotions.

Disclaimer: I am not a financial advisor. This entire post represents my personal views and opinions, and should not be taken as financial advice (or advice of any kind whatsoever). I encourage you to do your own research, take anything I write with a grain of salt, and hold me accountable for any mistakes you may catch. Also, full disclosure, I hold a net long position in GME, but my cost basis is very low (average ~$67--I have to admit, the drop today was too tasty so my cost basis went up from yesterday)/share with my later buys averaged in), and I'm using money I can absolutely lose. My capital at risk and tolerance for risk generally is likely substantially different than yours. In this post I will go a little further and speculate more than I'd normally do in a post due to the questions I've been getting, so fair warning, some of it might be very wrong. I suspect we'll learn some of the truth years from now when some investigative journalist writes a book about it.
Thank you everyone for the comments and questions on the first and second post on this topic.
Today was a study in the power of fear, courage, and the levers you can pull when you wield billions of dollars...
Woops, excuse me. I'm sorry hedge fund guys... I meant trillions of dollars--I just briefly forget you control not just your own but a lot of other peoples' money too for a moment there.
Also, for people still trading this on market-based rationale (as I am), it was a good day to measure the conviction behind your thesis. I like to think I have conviction, but in case you are somehow not yet familiar with the legend of DFV, you need to see these posts (fair warning, nsfw, and some may be offended/triggered by the crude language). The last two posts might be impressive, but you should follow it in chronological order and pay attention to the evolution of sentiment in the comments to experience true enlightenment.
Anyway, I apologize, but this post will be very long--there's just a lot to unpack.

Pre-Market

Disclaimer: given yesterday's pre-market action I didn't even pay attention to the screen until near retail pre-market. I'm less confident in my ability to read what's going on in a historical chart vs the feel I get watching live, but I'll try.
Early in the pre-market it looks to me like some momentum traders are taking profit, discounting the probability that the short-side will give them a deep discount later, which you can reasonably assume given the strategy they ran yesterday. If they're right they can sell some small volume into the pre-market top, wait for the hedge funds try to run the price back down, and then lever up the gains even higher buying the dip. Buy-side here look to me like people FOMOing and YOLOing in at any price to grab their slice of gainz, or what looks to be market history in the making. No way are short-side hedge funds trying to cover anything at these prices.
Mark Cuban--well said! Free markets baby!
Mohamed El-Erian is money in the bank as always. "upgrade in quality" on the pandemic drop was the best, clearest actionable call while most were at peak panic, and boy did it print. Your identifying the bubble as the excessive short (vs blaming retail activity) is money yet again. Also, The PAIN TRADE (sorry, later interview segment I only have on DVR, couldn't find on youtube--maybe someone else can)!
The short attack starts, but I'm hoping no one was panicking this time--we've seen it before. Looks like the momentum guys are minting money buying the double dip into market open.
CNBC, please get a good market technician to explain the market action. Buy-side dominance, sell-side share availability evaporating into nothing (look at day-by-day volume last few days), this thing is now at runaway supercritical mass. There is no changing the trajectory unless you can change the very fabric of the market and the rules behind it (woops, I guess I should have knocked on wood there).
If you know the mechanics, what's happening in the market with GME is not mysterious AT ALL. I feel like you guys are trying to scare retail out early "for their own good" (with all sincerity, to your credit) rather than explain what's happening. Possibly you also fear that explaining it would equate to enabling/encouraging people to keep trying to do it inappropriately (possibly fair point, but at least come out and say that if that's the case). Outside the market, however...wow.

You Thought Yesterday Was Fear? THIS is Fear!

Ok short-side people, my hat is off to you. Just when I thought shouting fire in a locked theater was fear mongering poetry in motion, you went and took it to 11. What's even better? Yelling fire in a theater with only one exit. That way people can cause the financial equivalent of stampede casualties. Absolutely brilliant.
Robin Hood disables buying of GME, AMC, and a few of the other WSB favorites. Other brokerages do the same. Even for people on 0% margin. Man, and here I thought I had seen it all yesterday.
Side note: I will give a shout out to TD Ameritrade. You guys got erroneously lumped together with RH during an early CNBC segment, but you telegraphed the volatility risk management changes and gradually ramped up margin requirements over the past week. No one on your platform should have been surprised if they were paying attention. And you didn't stop anyone from trading their own money at any point in time. My account balance thanks you. I heard others may have had problems, but I'll give you the benefit of the doubt given the DDOS attacks that were flyiing around
Robin Hood. Seriously WTF. I'm sure it was TOTALLY coincidence that your big announcements happen almost precisely when what has to be one of the best and most aggressive short ladder attacks of all time starts painting the tape, what looked like a DDOS attack on Reddit's CDN infrastructure (pretty certain it was the CDN because other stuff got taken out at the same time too), and a flood of bots hit social media (ok, short-side, this last one is getting old).
Taking out a large-scale cloud CDN is real big boy stuff though, so I wouldn't entirely rule out nation state type action--those guys are good at sniffing out opportunities to foment social unrest.
Anyway, at this point, as the market dives, I have to admit I was worried for a moment. Not that somehow the short-side would win (hah! the long-side whales in the pond know what's up), but that a lot of retail would get hurt in the action. That concern subsided quite a bit on the third halt on that slide. But first...
A side lesson on market orders
Someone printed bonus bank big time (and someone lost--I feel your pain, whoever you are).
During the face-ripping volatility my play money account briefly ascended to rarified heights of 7 figures. It took me a second to realize it, then another second to process it. Then, as soon as it clicked, that one, glorious moment in time was gone.
What happened?
During the insane chop of the short ladder attack, someone decided to sweep the 29 Jan 21 115 Call contracts, but they couldn't get a grip on the price, which was going coast to coast as IV blew up and the price was being slammed around. So whoever was trying to buy said "F it, MARKET ORDER" (i.e. buy up to $X,XXX,XXX worth of contracts at any price). This is referred to as a sweep if funded to buy all/most of the contracts on offer (HFT shops snipe every contract at each specific price with a shotgun of limit orders, which is far safer, but something only near-market compute resources can do really well). For retail, or old-tech pros, if you want all the contracts quickly, you drop a market order loaded with big bucks and see what you get... BUT, some clever shark had contracts available for the reasonable sum of... $4,400, or something around that. I was too stunned to grab a screencap. The buy market order swept the book clean and ran right into that glorious, nigh-obscene backstop limit. So someone got nearly $440,000 PER CONTRACT that was, at the time theoretically priced at around $15,000. $425,000 loss... PER CONTRACT. Maybe I'm not giving the buyer enough credit.. you can get sniped like that even if you try to do a safety check of the order book first, but, especially in low liquidity environments, if a HFT can peak into your order flow (or maybe just observes a high volume of sweeps occurring), they can end up front running your sweep, pick off the reasonable contracts, and slam a ridiculous limit sell order into place before your order makes it to the exchange. Either way, I hope that sweep wasn't loaded for bear into the millions. If so... OUCH. Someone got cleaned out.
So, the lesson here folks... in a super high volatility, low-liquidity market, a market order will just run up the ladder into the first sell order it can find, and some very brutal people will put limit sells like that out there just in case they hit the jackpot. And someone did. If you're on the winning side, great. It can basically bankrupt you if you're on the losing side. My recommendation: Just don't try it. I wouldn't be surprised if really shady shenanigans were involved in this, but no way to know (normally that's crazy-type talk, but after today....peeking at order flow and sniping sweeps is one of the fastest, most financially devastating ways to bleed big long-side players, just sayin').
edit *so while I was too busy trying not to spit out my coffee to grab a screenshot, piddlesthethug was faster on the draw and captured this: https://imgur.com/gallery/RI1WOuu
Ok, so I guess my in-the-moment mental math was off by about 10%. Man, that hurts just thinking about the guy who lost on that trade.*
Back to the market action..

A Ray of Light Through the Darkness

So I was worried watching the crazy downward movement for two different reasons.
On the one hand, I was worried the momentum pros would get the best discounts on the dip (I'll admit, I FOMO'd in too early, unnecessarily raising my cost basis).
On the other hand, I was worried for the retail people on Robin Hood who might be bailing out into incredibly steep losses because they had only two options: Watch the slide, or bail. All while dealing with what looked to me like a broad-based cloud CDN outage as they tried to get info from WSB HQ, and wondering if the insta-flood of bot messages were actually real people this time, and that everyone else was bailing on them to leave them holding the bag.
But I saw the retail flag flying high on the 3rd market halt (IIRC), and I knew most would be ok. What did I see, you ask? Why, the glorious $211.00 / $5,000 bid/ask spread. WSB Reddit is down? Those crazy mofos give you the finger right on the ticker tape. I've been asked many times in the last few hours about why I was so sure shorts weren't covering on the down move. THIS is how I knew. For sure. It's in the market data itself.
edit So, there's feedback in the comments that this is likely more of a technical glitch. Man, at least it was hilarious in the moment. But also now I know maybe not to trust price updates when the spread between orders being posted is so wide. Maybe a technical limitation of TOS
I'll admit, I tried to one-up those bros with a 4206.90 limit sell order, but it never made it through. I'm impressed that the HFT guys at the hedge fund must have realized really quickly what a morale booster that kind of thing would have been, and kept a lower backstop ask in place almost continuously from then on I'm sure others tried the same thing. Occasionally $1,000 and other high-dollar asks would peak through from time to time from then on, which told me the long-side HFTs were probably successfully sniping the backstops regularly.
So, translating for those of you who found that confusing. First, such a high ask is basically a FU to the short-side (who, as you remember, need to eventually buy shares to cover their short positions). More importantly, as an indicator of retail sentiment, it meant that NO ONE ELSE WAS TRYING TO SELL AT ANY PRICE LOWER THAN $5,000. Absolutely no one was bailing out.
I laughed for a minute, then started getting a little worried. Holy cow.. NO retail selling into the fear? How are they resisting that kind of price move??
The answer, as we all know now... they weren't afraid... they weren't even worried. They were F*CKING PISSED.
Meanwhile the momentum guys and long-side HFTs keep gobbling up the generously donated shares that the short-side are plowing into their ladder attack. Lots of HFT duels going on as long-side HFTs try to intercept shares meant to travel between short-side HFT accounts for their ladder. You can tell when you see prices like $227.0001 constantly flying across the tape. Retail can't even attempt to enter an order like that--those are for the big boys with privileged low-latency access.
The fact that you can even see that on the tape with human eyes is really bad for the short-side people.
Why, you ask? Because it means liquidity is drying up, and fast.

The Liquidity Tide is Flowing Out Quickly. Who's Naked (short)?

Market technicals time. I still wish this sub would allow pictures so I could throw up a chart, but I guess a table will do fine.
​

Date	Volume	Price at US Market Close
Friday, 1/22/21	197,157,196	$65.01
Monday, 1/25/21	177,874,00	$76.79
Tuesday, 1/26/21	178,587,974	$147.98
Wednesday, 1/27/21	93,396,666	$347.51
Thursday, 1/28/21	58,815,805	$193.60

What do I see? I see the shares available to trade dropping so fast that all the near-exchange compute power in the world won't let the short-side HFTs maintain order flow volume for their attacks. Many retail people asking me questions thought today was the heaviest trading. Nope--it was just the craziest.
What about the price dropping on Thursday? Is that a sign that the short-side pulled a miracle out and pushed price down against a parabolic move on even less volume than Wednesday? Is the long side running out of capital?
Nope. It means the short-side hedge funds are just about finished.
But wait, I thought the price needed to be higher for them to be taken out? How is it that price being lower is bad for them? Won't that allow them to cover at a lower price?
No, the volume is so low that they can't cover any meaningful fraction of their position without spiking the price parabolic almost instantly. Just not enough shares on offer at reasonable prices (especially when WSB keeps flashing you 6942.00s).
It's true, a higher price hurts, but the interest charge for one more day is just noise at this point. The only tick that will REALLY count is the last tick of trading on Friday.
In the meantime, the price drop (and watching the sparring in real time) tells me that the long-side whales and their HFT quants are so certain of the squeeze that they're no longer worried AT ALL about whether it will happen, and they aren't even worried at all about retail morale to help carry the water anymore.
Instead, they're now really, really worried about how CHEAPLY they can make it happen.
They are wondering if they can't edge out just a sliver more alpha out of what will already be a blow-out trade for the history books (probably). You see, to make it happen they just have to keep hoovering up shares. It doesn't matter what those shares cost. If you're certain that the squeeze is now locked in, why push the price up and pay more than you have to? Just keep pressing hard enough to force short-side to keep sending those tasty shares your way, but not so much you move the price. Short-side realizes this and doesn't try to drive price down too aggressively. They can't afford to let price run away, so they have to keep some pressure on at the lowest volume they can manage, but they don't want to push down too hard and give the long-side HFTs too deep of a discount and bleed their ammo out even faster. That dynamic keeps price within a narrow (for GME today, anyway) trading range for the rest of the day into the close.
Good plan guys, but those after market people are pushing the price up again. Damnit WSB bros and Euros, you're costing those poor long-side whales their extra 0.0000001% of alpha on this trade just so you can run up your green rockets... See, that's the kind of nonsense that just validates Lee Cooperman's concerns.
On a totally unrelated note, I have to say that I appreciate the shift in CNBC's reporting. Much more thoughtful and informed. Just please get a good market technician in there who will be willing to talk about what is going on under the hood if possible. A lot of people watching on the sidelines are far more terrified than they need to be because it all looks random to them. And they're worried that you guys look confused and worried--and if the experts on the news are worried....??!
You should be able to find one who has access to the really good data that we retailers can only guess at, who can explain it to us unwashed masses.

Ok, So.. Questions

There is no market justification for this. How can you tell me is this fundamentally sound and not just straight throwing money away irresponsibly?? (side note: not that that should matter--if you want to throw your money away why shouldn't you be allowed to?)
We're not trading in your securities pricing model. This isn't irrational just because your model says long and short positions are the same thing. The model is not a real market. There is asymmetrical counterparty risk here given the shorts are on the hook for all the money they have, and possibly all the money their brokers have, and possibly anyone with exposure to the broker too! You may want people to trade by the rules you want them to follow. But the rest of us trade in the real market as it is actually implemented. Remember? That's what you tell the retailers who take their accounts to zero. Remember what you told the KBIO short-squeezed people? They had fair warning that short positions carry infinite risk, including more than your initial investment. You guys know this. It's literally part of your job to know this.
But-but-the systemic risk!! This is Madness!
...Madness?
THIS. IS. THE MARKET!!! *Retail kicks the short-side hedge funds down an infinity loss black hole\*.
Ok, seriously though, that is actually a fundamentally sound, and properly profit-driven answer at least as justifiable as the hedge funds' justification for going >100% of float short. If they can be allowed to gamble INFINITE LOSSES because they expect to make profit on the possibility the company goes bankrupt, can't others do the inverse on the possibility the company I don't know.. doesn't go bankrupt and gets a better strategy from the team that created what is now a $43bn market cap company (CHWY) that does exactly some of the things GME needs to do (digital revenue growth) maybe? I mean, I first bought in on that fundamental value thesis in the 30s and then upped my cost basis given the asymmetry of risk in the technical analysis as an obvious no-brainer momentum trade. The squeeze is just, as WSB people might say, tendies raining down from on high as an added bonus.
I get that you disagree on the fundamental viability of GME. Great. Isn't that what makes a market?
Regarding the consequences of a squeeze, in practice my expectation was maybe at worst some kind of ex-market settlement after liquidation of the funds with exposure to keep things nice and orderly for the rest of the market. I mean, they handled the VW thing somehow right? I see now that I just underestimated elite hedge fund managers though--those guys are so hardcore (I'll explain why I think so a bit lower down).
If hedge fund people are so hardcore, how did the retail long side ever have a chance of winning this squeeze trade they're talking about?
Because it's an asymmetrical battle once you have short interest cornered. And the risk is also crazily asymmetrical in favor of the long side if short interest is what it is in GME. In fact, the hedge funds essentially cornered themselves without anyone even doing anything. They just dug themselves right in there. Kind of impressive really, in a weird way.
What does the short side need to cover? They need the price to be low, and they need to buy shares.
How does price move lower? You have to push share volume such that supply overwhelms demand and price therefore goes down (man, I knew econ 101 would come in handy someday).
But wait... if you have to sell shares to push the price down.. won't you just undo all your work when you have to buy it back to actually cover?
The trick is you have to push price down so hard, so fast, so unpredictably, that you SCARE OTHER PEOPLE into selling their shares too, because they're scared of taking losses. Their sales help push the price down for free! and then you scoop them up at discount price! Also, there are ways to make people scared other than price movement and fear of losses, when you get right down to it. So, you know, you just need to get really, really, really good at making people scared. Remember to add a line item to your budget to make sure you can really do it right.
On the other hand..
What does the long side need to do? They need to own as much of the shares as they can get their hands on. And then they need to hold on to them. They can't be weak hands either. They need to be hands that will hold even under the most intense heat of battle, and the immense pressure of mind-numbing fear... they need to be as if they were made of... diamond... (oh wow, maybe those WSB people kind of have a point here).
Why does this matter? Because at some point the sell side will eventually run out of shares to borrow. They simply won't be there, because they'll be safely tucked away in the long-side's accounts. Once you run out of shares to borrow and sell, you have no way to move the price anymore. You can't just drop a fat stack--excuse me, I mean suitcase (we're talking hedge fund money here after all)--of Benjamins on the ticker tape directly. Only shares. No more shares, no way to have any direct effect on the price whatsoever.
Ok, doesn't that just mean trading stops? Can't you just out-wait the long side then?
Well, you could.. until someone on the long side puts 1 share up on a 69420 ask, and an even crazier person actually buys at that price on the last tick on a Friday. Let's just say it gets really bad at that point.
Ok.. but how do the retail people actually get paid?
Well, to be quite honest, it's entirely up to each of them individually. You've seen the volumes being thrown around the past week+. I guarantee you every single retailer out there could have printed money multiple times trading that flow. If they choose to, and time it well. Or they could lose it all--this is the market. Some of them apparently seem to have some plan, or an implicit trust in certain individuals to help them know when to punch out. Maybe it works out, but maybe not. There will be financial casualties on the field for sure--this is the bare-knuckled capitalist jungle after all, remember? But everyone ponied up to the table with their own money somehow, so they all get to play in the big leagues just like everyone else. In theory, anyway.
And now, Probably the #1 question I've been asked on all of these posts has been: So what happens next? Do we get the infinity squeeze? Do the hedge funds go down?
Great questions. I don't know. No one does. That's what I've said every time, but I get that's a frustrating answer, so I'll write a bit more and speculate further. Please again understand these are my opinions with a degree of speculation I wouldn't normally put in a post.

The Market and the Economy. Main Street, Wall Street, and Washington

The pandemic has hurt so many people that it's hard to comprehend. Honestly, I don't even pretend to be able to. I have been crazy fortunate enough to almost not be affected at all. Honestly, it is a little unnerving to me how great the disconnect is between people who are doing fine (or better than fine, looking at my IRA) versus the people who are on the opposite side of the ever-widening divide that, let's be honest, has been growing wider since long before the pandemic.
People on the other side--who have been told they cannot work even if they want to, who wonder if congress will get it together to at least keep them from getting thrown out of their house if they have to keep taking one for the team for the good of all, are wondering if they're even living in the same reality.
Because all they see on the news each day is that the stock market is at record highs, or some amazing tech stocks have 10x'd in the last 6 months. How can that be happening during a pandemic? Because The Market is not The Economy. The Market looks forward to that brighter future that Economy types just need to wait for. Don't worry--it'll be here sometime before the end of the year. We think. We're making money on that assumption right now, anyway. Oh, by the way, if you're in The Market, you get to get richer as a minor, unearned side-effect of the solutions our governments have come up with to fight the pandemic.
Wow. That sounds amazing. How do I get to part of that world?
Retail fintech, baby. Physical assets like real estate might be a bit out of reach at the moment, but stocks will do. I can even buy fractional shares of BRK/A LOL.
Finally, I can trade for my own slice of heaven, watching that balance go up (and up--go stonks!!). Now I too get to dream the dream. I get to feel connected to that mythical world, The Market, rather than being stuck in the plain old Economy. Sure, I might blow up my account, but that's because it's the jungle. Bare-knuckled, big league capitalism going on right here, and at least I get to show up an put my shares on the table with everyone else. At least I'm playing the same game. Everyone has to start somewhere--at least now I get to start, even if I have to learn my lesson by zeroing my account a few times. I've basically had to deal with what felt like my life zeroing out a few times before. This is number on a screen going to 0 is nothing.
Laugh or cry, right? I'll post my losses on WSB and at least get some laughs.
Geez, some of the people here are making bank. I better learn from them and see if they'll let me in on their trades. Wow... this actually might work. I don't understand yet, but I trust these guys telling me to hold onto this crazy trade. I don't understand it, but all the memes say it's going to be big.
...WOW... I can pay off my credit card with this number. Do I punch out now? No? Hold?... Ok, getting nervous watching the number go down but I trust you freaks. We're still in the jungle, but at least I'm in with with my posse now. Market open tomorrow--we ride the rocket baby! And if it goes down, at least I'm going down with my crew. At least if that happens the memes will be so hilarious I'll forget to cry.
Wow.. I can't believe it... we might actually pull this off. Laugh at us now, "pros"!
We're in The Market now, and Market rules tell us what is going to happen. We're getting all that hedge fund money Right? Right?
Maybe.
First, I say maybe because nothing is ever guaranteed until it clears. Secondly, because the rules of The Market are not as perfectly enforced as we would like to assume. We are also finding out they may not be perfectly fair. The Market most experts are willing to talk about is really more like the ideal The Market is supposed to be. This is the version of the market I make my trading decisions in. However, the Real Market gets strange and unpredictable at the edges, when things are taken to extremes, or rules are pushed beyond the breaking point, or some of the mechanics deep in the guts of the Real Market get stretched. GME ticks basically all of those boxes, which is why so many people are getting nervous (aside from the crazy money they might lose). It's also important to remember that the sheer amount of money flowing through the market has distorting power unto itself. Because it's money, and people really, really, really like their money--especially when they're used to having a lot of it, and rules involving that kind of money tend to look more... flexible, shall we say.
Ok, back to GME. If this situation with GME is allowed to play out to its conclusion in The Market, we'll see what happens. I think all the long-side people get the chance to be paid (what, I'm not sure--and remember, you have to actually sell your position at some point or it's all still just numbers on your screen), but no one knows for certain.
But this might legitimately get so big that it spills out of The Market and back into The Economy.
Geez, and here I thought the point of all of this was so that we all get to make so much money we wouldn't ever have to think and worry about that thing again.
Unfortunately, while he's kind of a buzzkill, Thomas Petterfy has a point. This could be a serious problem.
It might blow out The Market, which will definitely crap on The Economy, which as we all know from hard experience, will seriously crush Main Street.
If it's that big a deal, we may even need Washington to be involved. Once that happens, who knows what to expect.. this kind of scenario being possible is why I've been saying I have no idea how this ends, and no one else does either.
How did we end up in this ridiculous situation? From GAMESTOP?? And it's not Retail's fault the situation is what it is.. why is everyone telling US that we need to back down to save The Market?? What about the short-side hedge funds that slammed that risk into the system to begin with?? We're just playing by the rules of The Market!!
Well, here are my thoughts, opinions, and some even further speculation... This may be total fantasy land stuff here, but since I keep getting asked I'll share anyway. Just keep that disclaimer in mind.

A Study in Big Finance Power Moves: If you owe the bank $10,000, it's your problem...

What happens when you owe money you have no way to pay back? It's a scary question to have to face personally. Still, on balance and on average, if you're fortunate enough to have access to credit the borrowing is a risk that is worth taking (especially if you're reasonably careful). Lenders can take a risk loaning you money, you take a risk by borrowing in order to do something now that you would otherwise have had to wait a long time or maybe would never have realistically been able to do otherwise. Sometimes it doesn't work out. Sometimes it's due to reasons totally beyond your control. In any case, if you find yourself there you have no choice but to dust yourself off, pick yourself up as best as you can, and try to move on and rebuild. A lot of people had to learn that in 2008. Man that year really sucked.
Wall street learned their lessons too. Most learned what I think most of us would consider the right lessons--lessons about risk management, and the need to guard vigilantly against systemic risk, concentration of risk through excess concentration of leverage on common assets, etc. Many suspect that at least a few others may have learned an entirely different set of, shall we say, unhealthy lessons. Also, to try to be completely fair, maybe managing other peoples' money on 10x+ leverage comes with a kind of pressure that just clouds your judgement. I could actually, genuinely buy that. I know I make mistakes under pressure even when I'm trading risk capital I could totally lose with no real consequence. Whatever the motive, here's my read on what's happening:
First, remember that as much fun as WSB are making of the short-side hedge fund guys right now, those guys are smart. Scary smart. Keep that in mind.
Next, let's put ourselves in their shoes.
If you're a high-alpha hedge fund manager slinging trades on a $20bn 10x leveraged to 200bn portfolio, get caught in a bad situation, and are down mark-to-market several hundred million.. what do you do? Do you take your losses and try again next time? Hell no.
You're elite. You don't realize losses--you double down--you can still save this trade no sweat.
But what if that doesn't work out so well and you're in the hole >$2bn? Obvious double down. Need you ask? I'm net up on the rest of my positions (of course), and the momentum when this thing makes its mean reversion move will be so hot you can almost taste the alpha from here. Speaking of momentum, imagine the move if your friends on TV start hyping the story harder! Genius!
Ok, so that still didn't work... this is now a frigging 7 sigma departure from your modeled risk, and you're now locked into a situation that is about as close to mathematically impossible to escape as you can get in the real world, and quickly converging on infinite downside. Holy crap. The fund might be liquidated by your prime broker by tomorrow morning--and man, even the broker is freaking out. F'in Elon Musk and his twitter! You're cancelling your advance booking on his rocket ship to Mars first thing tomorrow... Ok, focus--this might legit impact your total annual return. You need a plan, and you know the smartest people on the planet, right? The masters of the universe! Awesome--they've even seen this kind of thing before and still have the playbook!! Of course! It's obvious now--you borrow a few more billion and double down again first thing in the morning. So simple. Sticky note that Mars trip cancellation so you don't forget.
Ok... so that didn't work? You even cashed in some pretty heavy chits too. Ah well, that was a long shot anyway. So where were you? Oh yeah.. if shenanigans don't work, skip to page 10...
...Which says, of course, to double down again. Anyone even keeping track anymore? Oh, S3 says it's $40bn and we're going parabolic? Man, that chart gives me goosebumps. All according to plan...
So what happens tomorrow? One possible outcome of PURE FANTASTIC SPECULATION...
End of the week--phew. Never though it'd come. Where are you at now?... Over $9000^\)!!! Wow. You did it boys, and as a bonus the memes will be so sweet.
^\)side note: add 8 zeros to the end...
Awesome--your problems have been solved. Because...
​
..
​
BOOM
​
Now it's EVERYONE's problem. Come at me, Chamath, THIS is REAL baller shit.
Now all you gotta do is make all the hysterical retirees watching their IRAs hanging in the balance blame those WSB kids. Hahaha. Boomers, amirite? hate when those kids step on their law--I mean IRAs. GG guys, keep you memes. THAT is how it's done.
Ok, but seriously, I hope that's not how it ends. I guess we just take it day by day at this point.
Apologies for the length. Good luck in the market!
Also, apologies in advance for formatting, spelling, and grammatical errors. I was typing this thing in between doing all kinds of other things for most of the day.
Edit getting a bunch of questions on if it's possible the hedge funds are finding ways to cover in spite of my assumptions. Of course. I'm a retail guy trying to read the charts and price action. I don't have any special tools like the pros may have.

Edit: Actual TL;DR - There is none. It's a complicated issue and I'm hoping you will take the time to read the post if you want to engage in the discussion. That's why the post is tagged 'discussion'.
I made a lengthy comment after reading this post yesterday. What a crazy helmet! But it was the top comment chain in that thread that caught my attention, particularly this comment:

Annoyance leads to a group that is willing to put up with it getting all the rewards but hating the game because it's annoying and a second group that doesn't put up with it but hates that they're missing out on the stuff the first group is getting. Everyone loses.

My thoughts on this subject probably merit its own discussion thread, so here it is.
This reminds me of Grod's Law:

Grod's Law: You cannot and should not balance bad mechanics by making them annoying to use

Years ago on the Giant in the Playground forums (a community for the D&D 3.5 edition tabletop roleplaying game), an argument broke out when a user recommended balancing the absurd power of magic using classes by making them meticulously track their material components for each spell.
For those unaware, material costs for spells that didn't have an explicit monetary cost listed were generally just flavorful; holdovers from Gary Gygax's day at the helm, basically little Easter eggs in the game. Like Detect Thoughts required you to use 2 copper pieces to cast, e.g. 'penny for your thoughts?', and Fireball required you to use bat guano (known to be high in sulfur content) and saltpeter (chemically combined they create an exothermic reaction IRL).
Anyway, your wizard or whatever was expected to buy a spell component pouch for a few gold and that pouch was assumed to have all the basic material components they'd need for most spells in limitless quantity. Spells in D&D can be incredibly powerful and versatile in their use, and the most powerful builds in the game all involve casting magic. Well, this user suggested balancing those spells by making wizards have to spend time gathering their individual material components. Want to cast Fireball? Spend a few days scraping bat shit off the cave floor, etc.
The problem with this rationale is that it doesn't really solve any problems. Wizards are still just as powerful, but now the player has to go out of their way, detracting from the campaign and story, so they can scrape their spell juice off the dungeon floor. Grod argued the following:

• The disruptive munchkin ignores it, argues it, or forces the rest of the group to suffer through it. His power remains the same, and he gets more annoying to play with.
  
• The inappropriate powergamer figures out how to circumvent the restriction. His power remains the same.
  
• The reasonable player either figures out how to circumvent the restriction (rendering it moot), avoids the class (turning it into a ban) or suffers through it. His power remains the same and/or his enjoyment goes down.
  
• The new player avoids the class or suffers through it. His enjoyment goes down.
  

Tie this back into PoE already!

Yes, sorry. Thanks for putting up with my rambling.
I kinda feel like harvest is like this - A terrible implementation of a mechanic that GGG (i.e. Chris Wilson) hates (i.e. thinks is 'bad' for the game). It highlights a massive problem with itemization and crafting in this game.
Way too much character power is tied up in gear as compared to skills and passives. And Harvest crafts are so powerful because other crafting tools in PoE are are way too random, but the power creep in items over the years has made it way too appealing (various influence mods for example). Crafting most items is a gamble, plain and simple. Gambling is just not appealing to many people, and it can get expensive very fast. It's layers upon layers of RNG for even the chance of getting a decent item, some of which can be build-enabling, and there are very few deterministic methods of getting what you want. It's far easier to just buy a powerful item like that from someone else. Of course, that can't be done for SSF players, but even in trade league it can be problematic when GGG balances the game around meta-builds (supply and demand means you might not get to enjoy playing your build because upgrades are too expensive).
GGG wants the game to be like this. They want you to engage in the skinner box of gambling RNG they've designed. Harvest just doesn't jive with how they want you to build your character, but it's immensely popular for anyone who hates gambling and wants to build their character in a predictable and targeted way. Their solution was to leave it in the game but make it as cumbersome and obnoxious to engage with as possible, so it becomes a massive opportunity cost to do so.
You find a grove in a map. Cue 20 to 30 minutes of reviewing your stash and gear for possible upgrades and reviewing craft options for valuable ones that might be sold on TFT, etc. It completely disrupts the flow of the game and you can barely save enough valuable crafts for one or two side builds. When you finally do get one of the few good craft options, you might not even have something to use it on! Ultimately it's far more time-efficient to sell your good crafts (using 3rd party mechanisms, of course) and just keep playing the game.

How does this affect me, SaneExile?

The system affects the game exactly how Grod proposes:

The inappropriate powergamer figures out how to circumvent the restriction. His power remains the same.

PoE isn't a collaborative tabletop game like D&D, so "inappropriate powergamer" is, well, an inappropriate name for this group. Optimizing gameplay in PoE is perfectly reasonable and encouraged. But people who trade crafts in large volume on TFT or are in massive guilds throwing around thousands of exalts are not your average optimizer, and are not affected by this cumbersome barrier to entry. They find the optimal solution and just incorporate it into their gameplay and profit off it massively.

The reasonable player either figures out how to circumvent the restriction (rendering it moot), avoids the class (turning it into a ban) or suffers through it. His power remains the same and/or his enjoyment goes down.

Reasonable player -> average PoE player. The distinction between these two groups can get fuzzy, but it's hard to argue that someone playing 40 hours per week and someone playing 10 hours per week can achieve the same levels of effectiveness. Practice makes perfect, and practice takes time. Those in large communities are, likewise, not really playing the same game as the solo players (e.g. aura-bots, trade groups, etc.). For some, efficiency is measured in chaos per hour. For a few, it can be exalts per hour. This group is very much the former.

The new player avoids the class or suffers through it. His enjoyment goes down.

Class -> game mechanic. In this case, I'm sure a lot of people just pretend the Sacred Grove doesn't exist. Harvest is a thing that other people do. And if they do choose to engage with it, its cumbersomeness and complexity means their overall enjoyment of PoE is diminished. I couldn't even begin to explain the system to someone new to the game, at least in a reasonable manner that doesn't sound like a college economics lecture.

Conclusions

So, average people either suffer through harvest's implementation because it's so damn useful, or they avoid it and suffer FOMO or other gambling-induced psychological issues because the power-players in the community are cranking out incredibly OP gear on the trading market. Lose-Lose. This isn't unique to harvest, it's just the most obvious with this crafting system in the game. Crafting in general is fucked up, when you really consider how it's designed to prey on gambling addiction.
This might not be a problem in the short term (obviously you don't need the helmet posted above to make specters work), but in the long term it throws off the balance of the game through power creep. The Raise Specters gem was meganerfed this league, but it's definitely still playable, and with items like this, it's not even that much weaker than before. Essentially, the power of the skill was offloaded from the gem to PoE's itemization system, and the barrier to OPness is that much higher. The rich get richer and the average market has one less meta build.
GGG really fucked up Harvest, but it's only because Harvest highlighted just how fucked up crafting in this game is. Super powerful crafts have always been something only the PoE rich engage with regularly and with any significant profit. Harvest, for its league at least, let more casual players engage with that system. And the power creep ended up being so massive that they hamstrung it every chance they got.
Ultimately, GGG's implementation ends up hurting the whole game because of Grod's Law - the benefits of it are minimized while the annoyance is maximized. It's possible we can benefit from some stopgap solutions, like more horticrafting station space, tradeable crafts (like beasts), etc., but many of these come with their own host of issues. They're just bandaids on the crafting mechanic as a whole, which is a product of the itemization design.
TL;DR, thanks for coming to my TEDTalk. General disclaimer that this is my personal opinion of the state of the game, one that I've put way too much time into. It's still fun in a lot of ways, but the more I play the more I see problematic design features creeping their way into the game.
Edit: Well this took off. I've been trying to address arguments from you all as best I can, but there's one I noticed in particular keeps coming up and I think my main post didn't clarify my stance as well as it could've:
I'm not against the idea of RNG. Randomness in itself is not a problem for this genre or most games in general. I am however very much against the argument that, 'well the entire game is randomness so more randomness is fine.' I've tried to address that in this comment, which I'll link instead of reiterating.

4️⃣2️⃣0️⃣ POT STOCK 4️⃣2️⃣0️⃣
💎🤚 ROCK SOLID HOLD 💎🤚
🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Sundial Growers produces high quality cannabis products in their individual controlled modular grow rooms at a 470,000 sq ft state-of-the-art Health Canada licensed facility in Olds, AB, eh. With a large portfolio of brands, they have products at every price point from low to high-end, flower to topicals and a crap ton of money.
In the beginning of February, they announced the completion of a $0.75 public offering for a cool $100 milly. Simultaneously, they launched another offering. BuT tHaT's GoInG tO DiLuTe tHe MaRkEt! ThE sToCk HaS A 1 BiLlIoN dOlLaR fLoAt. Doesn’t that fucking suck? No, it doesn’t, and I’ll tell you why: it’s good.
These offerings allowed these guys to load up on mad cash and sky's the limit with this new found cash money 420 swag 69. They are sitting on something like $600+ milly. That is a lot of fucking money. So what are they going to spend it on? Acquisitions? Expansion? Whatever it is, I trust the fuck out of their management team. "Sundial's current balance sheet and liquidity enable management to focus on delighting consumers while providing significant optionality to participate in North American consolidation," said Sundial's CEO, Zach George. Fuck yea George, delight me.
more rockets🚀🚀🚀🚀
Last week, this thing was in delisting territory, making this a tough gamble even at the low $1 ranges. Fast forward, we're like 1 day away from compliance, aka that is no longer a problem. brushshoulderoff
We saw some crazy movement last night and premarket this morning, potentially shorts covering some naked calls, as we saw a lot of call action at $1.50, $2, $2.50, and $3 this week. Then, we opened and saw some major sell-off. That’s fine, because we got to see how this reacted to this once volume leveled out. Good news, we’re chilling around $3 which is where we will likely do battle today. Now, we’re also seeing people go full HAM on $5 2/19 calls for the next leg of our journey.
ALL OF THIS MOVEMENT IS HAPPENING WITHOUT THE CATALYST. That's why I'm 💎🤚 AF RN.
You know what else excites me about this banger? When I go to purchase this stock in Fidelity, do you know what happens? MESSAGE DW34-FUCKING-02: The price of this security has been highly volatile. Consider the potential risk of loss and closely monitor any purchase you make. Uhh, can you say BONER JAMZ 2021?
$SNDL TO THE MOON BABY 🚀🌙
But don’t take my word for it. Seriously, don’t. I’m not a financial expert and this is not advice, merely my meaningless pea brained opinion. Do your own research and shit. Or don’t, I’m not your fucking dad.
POS: 2000 @ $1.11 and added 13 $5 C 2/19 on today's dip
Edit: Market is red and esp weed. Add when sad. I'm down here scoopin up dips and buyin value contracts.

GME Short Squeeze What Comes Next Part 3
Hello all,
Before I begin I would like to address something I have been encountering on my posts in the comments section. I keep receiving some hate concerning my opinions and I want to be crystal clear that they are just that; opinions. I also want everyone to know that is is meant to be a dialog. I am not trying to pump this stock because truthfully, this goes far beyond us retail investors at this point. What I want is a dialog between all sides to examine this truly fascinating phenomenon that is occurring.
I would also like to clarify something, I am not a bagholder. I do currently hold bags because I own 336 shares at a $194.34 cost basis, however, that total amount is house money that was used from my profits on the first go around.
I also understand some people are tired of hearing about this because it's the same regurgitated form of someone else's post as it keeps circulating in an attempt to retain hype and drive future buying; this is not what this post is about. As investors and individuals involved in the world of finance, this situation should absolutely intrigue us whether or not we are involved. I am here to present my logic on the situation but encourage healthy discussion and debate.
This brings me to my first claim. This is not over. Now, I am not claiming that a squeeze will still occur, I am simply claiming it is not over, for better or for worse. Several things need to take place for this to be completely over, at which point I will either post my gains or my losses from the adventure.
When I say "it" I am referring to this entire phenomenon, not one short squeeze. I do not think these events, "it", is over. This is largely due to retail and institutional purchasing not really changing all that much since we found the bottom and established support at a staggering $60. This support was lost today and found new support at $50. There was very interesting ATH action and I'm not sure what to make of it.
Millions of bag holders (not just WSB) are still holding and in fact, averaging down, thereby purchasing more. These same bag holders are absolutely refusing to sell for such massive losses and in turn are becoming long term investors on the stock if another squeeze isn't to occur. People are picking up speculative positions in the off-chance of another squeeze. Others are determining this as a fair value for the company, not fundamentally, but based on the future prospects of Ryan Cohen and team. Finally, it is nowhere near leaving the global stage with important upcoming dates that we will discuss later.
To examine why it isn't over let's look at both sides of the argument:

1. Bulls claim it's not over for many reasons that you can find in the hundreds of other bullish posts, so I won't bore you with those details. My argument on the bull side is more along the lines of what I listed above.
2. Bears claim it is over because there was a 2250% price increase over the course of two weeks, therefore this must be a short squeeze.

I think we can all agree, bear or bull, that something happened. A 2250% increase certainly isn't nothing. The question is...what? I see several possibilities and would like to discuss them in the comments.

1. The shorts in fact covered and this was a short squeeze.
2. The shorts partially covered and this was a partial short squeeze, but the price increase was mainly hype and gamma squeezes.
3. The shorts didn't cover anything and this was a globally hyped price increase in conjunction with several gamma squeezes.
4. Some combination of the above 3.

First, the data:
Based on morningstar the short interest is showing 78.46%. Now, I think the website is having some issues storing cookies because it will show the outdated 226% unless you open it up in incognito.
Market watch is showing 41.95%
This spread is interesting for sure, my thoughts are some of these calculations are including "synthetic longs" introduced by S3.
It is extremely possible to manipulate these numbers via illegal methods and even legal methods using options. Please see this SEC document to explain how this would work. I am not trying to convince anyone to fit my narrative, but these things occur far more commonly than one would expect. The reasoning is because the fines for committing the crime are far less costly than letting the event take place. Please see FINRA's website for the long, and frequent list of fines being dealt out due to manipulation. A common culprit? Lying about short volume.
Let's use the absolute worst case scenario being reported of 41.95%, which mind you is still extremely high for one stock:
The shorts in fact covered and this was a short squeeze
What's interesting here is even if the shorts 100% covered all of their positions, they very well could have shorted on the way back down. Why wouldn't you? It would be insane to not open a short position when this hit nearly $500 especially if you lost half of your companies money; what better way to get it back? For the remainder of this thesis, I will be assuming that some of the short positions that exist are newly opened positions at a higher price unless someone has a counter-claim as to why that wouldn't be possible/probable.
That would mean 226% was covered on the way up and another 41.95% was reopened on the way back down. Based on the volume and price changes throughout the past two weeks this simply doesn't pass the math check.
The shorts partially covered and this was a partial short squeeze.
Again, using 41.95% this is highly likely and the most reasonable case. Some, probably the worst positions, were covered on the way up.
I think this is precisely what happened, we had some partial shorts covering but for the most part it was gamma squeezes, hype, and FOMO whereby the price started climbing so rapidly it became smarter for the shorts to just wait out the bubble than to actually cover all of their positions.
Again, we fall into a "what-if" scenario regarding shorting on the way back down.
The shorts didn't cover anything and this was a globally hyped price increase in conjunction with several gamma squeezes.
This scenario does not pass the math check using the 41.95% figure.
If the data is being manipulated then this becomes very interesting because if some of the worst positions are still open then that means all of these HF's losses that were reported were strictly interest and they are simply waiting this out for as long as it takes making back their losses on their newly opened short positions in t $300-$400 range.
Sadly, this puts us in the guessing range yet again. We can do the math and see it's possible this scenario exists, however, we would be comparing it against losses reported by the entities that were being squeezed.
There are way to many what-if's for me to me consider this a possibility, but I can't write it off completely.
Some combination of the above 3.
Truthfully, this isn't worth examining just yet. There would be far to many "what-if's" to address, this is something that could be address at the later dates that we will get to shortly.
Now, I've heard it a lot regarding the 02/09 data. "It's two weeks old". Well, that is always the case. The FINRA short data is always two weeks old and suggesting that we can't pull any information from it at all is asinine. Where it gets quite murky, is the data includes 01/27 information. This was a day unlike any other in this saga.
I will take this moment to address the following upcoming catalysts and when I truly think this will be done; one way or the other.
Today's data 02/09, was very important because if it showed an extremely low percentage then we know shorts have exited and did not re-enter and this is completely done. Given the data does not reflect that, we now must turn to several events that could act as catalysts for either a further squeeze or a complete shutdown.
02/19 - In my last post, I discussed the Failure To Deliver (FTD) conundrum. I do need some help figuring out the exact expiration date. From here "The close-out requirement states that a participant of a clearing agency needs to take immediate action to close 4 out a fail to deliver position in a threshold security that has persisted for 13 consecutive settlement days by purchasing securities of like kind and quantity."
The exact date is slightly irrelevant because I highly doubt all of these FTD's are going to deliver on the same exact day. This site, while it isn't an official channel seems to be doing a good job of tracking data. If you want to learn more about FTD's and the implications there please visit that site or review my last post which has links to follow for further reading.
02/18 - Keith Gill aka u/DeepFuckingValue will testify before congress and RH CEO Vladimir will be attending. This can go several ways which can lead to an SEC trading halt on GameStop or with evidence that proves foul play occurred. Who knows? It will certainly be interesting and I don't even to speculate on the market reaction to this even because it could go a ton of different ways; it will be an important date nonetheless
02/24 - The next FINRA short interest information will be made readily available to the public. This will be far more interesting and helpful information because it won't include the insane volatility of January, but it will also highlight the newest short positions. This data will help further drive where I think this is all going to end. It's possible that shorts opened new positions at $50 thinking it was going back to $12. Let's not speculate too much here either, it's just another dataset that will bring light to the direction this is headed.
03/25 - GameStop ER. This is big too for several reasons. First, this will include the console sales cycle which historically has done well for GameStop. A typical buy the hype, sell the news event. It will be interesting to see how the market reacts leading up to this ER, maybe people won't even touch GME leading up to then due to the recent volatility, but if they do, and if there is still a lot of short interest, this too could force shorts to begin covering. Another critical part of this ER is Ryan Cohen. This will be the first time this new board addresses the public with their plans for the future and for the first time since this entire adventure began, the "dying brick and mortar" narrative will finally begin to change in the public eye. That is still the common misconception regarding GameStop, that it is a dying brick and mortar retailer where nothing has changed. This hasn't been the case for around 6 months now, but this will be the first time it is publicly address. The headlines surrounding GameStop's future plans will be very interesting to read and the markets reaction will be far more interesting.
I have been asked a lot what my PT is and when I expect the squeeze to happen, but let me be clear. Very seldom do squeezes "just happen". In fact, short squeezes are far more common than one would think, they just typically happen over months, if not years and the shorts cover on dips so you don't even notice it's happening. In order to force a squeeze, you need to hold a decent amount of shorts underwater. Soon one will crack and start closing their position, this leads to a series of shorts closing their positions skyrocketing the price until more and more shorts need to cover. This is rare.
I hope this narrative of purchasing heavily shorted companies comes to a close soon because a lot of people are going to lose a lot of money simply buying up companies because they are heavily bet against. Catalysts and massive changes need to occur like overhauling your entire business as is the case with GameStop.
Normally, shorts will close their positions one at a time, covering on dips and you don't even notice it's happening. In times where you see a price rise of seemingly no news could very well be shorts closing their positions because their research led them to realize this company is on the road to recovery.
I digress. Given the most recent data and the multiple upcoming catalysts I am still very bullish on a GME short squeeze. My post from quite some time ago illustrated the importance of catalysts regarding a short squeeze, this is still very much the case. The first run was interrupted and the second run won't happen with magic, it requires a catalyst. Another post was titled For those who do not understand the inevitable GME short squeeze, was at the time "inevitable" because math. That is no longer the case. It is no longer inevitable but it is still possible.
I want to be clear: This is not nearly as close to a sure thing as it once was and it depends on a lot of different factors. One of the largest is the people. Granted, a lot of what's happening now is in the hands of institutions but millions of retailers holding their positions to the grave certainly helps the institutional buyers have more faith in their play to continue a squeeze.
SO WHAT DO I THINK
I think shorts certainly covered some of their positions, but not all. I also firmly believe a significant amount of short positions were opened on the way back down by both HF's and individuals. Some certainly positioned high, but based on sentiment, it appears a lot of people think GME is fairly valued around $20 (which I disagree with but let's use that for the time being). That would mean shorts would have no problem opening positions at 100,70,60, even $50.
42% is still very high which means a squeeze is inevitable so long as the company continues in a positive path. However, squeezes typically aren't as abrupt as people think. They are actually quite common, in fact another position I'm heavily invested in is SPCE and they have been going through a squeeze for several weeks and will continue to squeeze so long as news continues to be positive.
How would we get an abrupt short squeeze? A massive bull run. The new shorts that entered at lower levels wouldn't be too hard to catch, however, they are probably low volume, so when they buy to close, it won't be large enough volumes for massive peaks, but a bull run very well could lead to these lower tiered shorts closing, triggering a gamma squeeze. If gamma squeezes are made week over week then shorts at the higher end would have two options:

1. Close early and take profits
2. Wait it out because they are positioned so well that interest means nothing and they don't think there is any hope of us rising to those levels.

In the first case, them closing early would be a nice short squeeze to probably several hundred dollars, but it wouldn't break $1000.
To break $1000 we would need a big bull run to catch the shorts, trigger gamma squeezes, and keep momentum until they are caught and underwater. This is highly unlikely unless there is another global sentiment.
NOTE: ALL OF THESE ASSUMPTIONS I AM MAKING ARE BASED ON THE 42% REPORTING. IF IT IS IN FACT 78% THEN THE POSSIBILITY IS TREMENDOUSLY INCREASED FOR THESE THINGS TO HAPPEN.
SO WHEN DOES IT ALL END
My though is if by the end of March these catalysts were not enough to reignite the hype and squeeze, then it will essentially be over except in the case of a few circumstances:

1. A VW/Porche moment occurs where a large buyer picks up a large portion of the company.
2. Some other currently unknown catalyst appears seemingly out of thin air
3. The data was in fact manipulated. Regardless of what the data says, if the shorts did in fact lie about their short int to take the fine over being squeezed, then they will be squeezed regardless.

It is quite possible, that these catalysts and moments aren't enough to force a squeeze anymore especially if the shorts have repositioned really well. I will retain the mindset that this fateful January 2021 was not a short squeeze. However, that does not mean it will ever actually happen.
SO WHAT IS YOUR PLAY HOOMAN?
Well, I am long on GME which is why I didn't mind hopping back in even at outrageous prices. I will continue averaging down and don't plan on selling for quite some time, probably several years. The reason for this is I believe in Cohen and his team to turn this into something unexpected and I imagine an eventual ROI. Once this is all said and done and I think either the shorts truly have covered or they simply got away with it (Beginning of April), I will be posting my DD for GME as a long play regardless of the squeeze mechanics.
Thank you all for joining me on this wild journey. I hope we can discuss some of these points in the comments like adults and truly try to grasp this wild situation we are all in. There are extremes on both sides from "get over it, the squeeze happened" to a cult like mentality on the other extreme. I hope through discussion we can find the moderate approach and further understand the market mechanics at play.
Thanks for your time
WARNING: Until the squeeze business is over for good, this is a very volatile and risky play. Joining now for the hope of a potential round 2 squeeze should only be done in a speculative manner with money you are willing to lose. This is more akin to a gamble than it is investing. I think the current market price is fair given the future prospects of the company but do your own DD, I will not be releasing any until this squeeze is put to rest.
TL;DR: I am still bullish on this scenario even at 42%, if it really is 78% then I am extremely bullish. There are a plethora of upcoming catalysts that could reignite the squeeze but even if none are powerful enough, with Cohen's new direction we could expect good news for quite some time forcing shorts to exit on a more spread out timeline.
Disclaimer: I am not a financial advisor. I do not wish to sway your opinion in either direction. I simply seek to examine this interesting and volatile situation via crowd sourcing. What you do with your money is entirely up to you.

I run a private campground. It’s been in my family for generations. For those of you with a rich family history, I’m sure you know how stories tend to accumulate. They get passed along haphazardly from one generation to the next, distorting as they do, and the truth grows muddy along the way. Land is like that too, except instead of gathering stories about Aunt Jodi’s scandalous first husband, it gathers monsters.
If you’re new here, you should really start at the beginning and if you’re totally lost, this might help.
There’s a lot to do to maintain a campground and I’ve been having to do a lot of the work myself around here. I don’t want my winter staff going into the deep woods without a good reason right now. Normally I’d send Bryan, as he has the dogs to protect him, but those are on loan. Also, I haven’t seen a lot of Bryan. He shows up, he gets the work done that he needs to, and then he just… vanishes for a while. I don’t know if he’s visiting his dogs or the fairy or both. And now that I think about it, Bryan tends to make himself scarce throughout the year. I guess I haven’t paid that close of attention before. He still gets the job done just fine so does it really matter if he’s off visiting his fairy bff in his downtime?
Unfortunately, even with the spiders’ help, I’m still battling the thorns in my chest. It’s taking a lot of my strength away and I’m getting winded easier. It’s made getting rid of these accursed things a priority. I know the fairy said they’d go away when they killed the fomorian, but as many of you have pointed out, they’re taking their sweet time going about that.
I do have a theory about the current stalemate, though. The fomorian probably wants the thorns to cover more of the campground. The fairy probably wants the sun to return, being of the company of Lugh and all. And both of them probably want less treacherous footing for their steeds.
I see the dapple gray stallion’s hoofprints in the snow sometimes. It makes it easy to avoid. I just turn around and immediately go in the opposite direction.
With this surefire way of avoiding my nemesis, I figured it was time to try a gamble. The fairy initially told me that I could try finding a way to banish the thorns by seeking out another entity of disease. I’ve taken that to mean the gummy bears. Their presence has brought sickness and rot before. The only problem was I really wasn’t sure how to find anything out from them. Did I use their bodies in an elixir? Did they have the answers themselves? There was a human shaped gummy bear, at least until one of Byran’s dogs splattered it. Perhaps there’s more intelligence among them than I thought.
I decided to try out one of Mattias’s strategies. He learned a lot about these creatures simply by being close to them. Following their paths through the woods.
I figured the worst that would happen is I’d wander around the forest for a bit and maybe feel a little stupid.
...okay, that’s really not the worst that could happen, considering the upheaval my land is experiencing, but barring any other catastrophe it wasn’t that dangerous of a plan.
Or at least, the first part wasn’t.
I got some dead mice from the pet store to bait the traps with. They weren’t very big, so I didn’t expect to attract any of the larger gummy bears. This was perfectly fine with me. I was in no hurry for another encounter like the last one, especially with the dogs on loan to the fairy. I baited the traps and left them scattered throughout the deep woods.
Within a couple days the traps yielded results. I found the jellied remains of a rabbit inside one of the traps, staring at me with glistening eyes, its translucent ears quivering. I crouched beside the cage.
“I’m going to let you out,” I said. “Don’t try to bite me or I’ll drop-kick you into the afterlife.”
Just to be safe, I released the gummy bear with the cage door pointing away from me. The rabbit bolted and I sprinted after it, only to lose it within seconds. So the worst case scenario came true, I felt real dumb there, standing in the woods and belatedly realizing that I couldn’t actually keep up with a rabbit.
The second gummy bear I caught was a raccoon. That’s still not something I was convinced I could keep up with, so I took the liberty of breaking both of its hind legs before I released it. The bones snapped like dry branches. The gummy bear hissed wetly and bared its yellowed teeth at me, but otherwise didn’t seem to be in pain. I’m not sure if this qualifies as animal cruelty and frankly, I’m trying not to think about it too hard.
This time, I had no problem keeping up with the gummy bear once it was released. It dragged itself along by its forelegs, seemingly oblivious to the dangling appendages that trailed behind it. Our progress was slow and I impatiently began to wonder if perhaps I should have only broken one. There was nothing I could do about it now. The gummy bear would turn and hiss at me if I got too close, so I kept a healthy distance between us.
And I followed it. I honestly had no idea where it would lead me, but Mattias’s journal implies that he learned everything he did by being close to these inhuman things. The world is less stable when they’re nearby, he claimed. Things slip through.
It took a long time. I was tempted to quit and go home repeatedly and each time I had to remind myself to have patience. Mattias surely had, as he didn’t have the siren call of the internet luring him away. The raccoon made a circle of the deep woods, its pace consistent, dragging its broken legs behind it. It moved with purpose. It stayed off the road, but I caught glimpses of gravel now and again through the barren trees. After a little while I realized that it was slowly but surely turning, heading back towards the hill that led up and out of the forest.
I was beginning to think this had all been a waste of time and I should just finish the thing off. Watching it drag itself all through the woods for the past couple of hours had stirred an acute sense of guilt about this entire affair. Killing something was one thing. That’s a matter of life and death, generally. But crippling something like this… perhaps there’s more of my father in me than I thought. He’s in the quiet spaces of my soul and most of the time I can’t hear him over the roar of my anger.
I heard him now.
I steeled my resolve and hefted the crowbar I’d brought along for just this purpose. Blunt weapons are the best tool for destroying gummy bears. Sharp edges can cut pieces off them, but that won’t necessarily slow them down. Even if you cut it in half you could get unlucky and the pieces might reconnect and join back together and then you got a gummy bear with its ass literally stuck to its shoulder flailing around and trying to bite you.
Blunt trauma, however, separated the parts beyond repair. Like dropping a cherry pie on the floor. You aren’t getting that back together in a cohesive form. And like an exploding cherry pie, the gummy bear burst into a gooey red smear that coated the nearby ground and splattered on the trees when I brought the crowbar down into the center of its body.
Something like smoke hovered over the ground. It was only there for a second. I might have missed it, had I not been watching. Ever since my encounter with the human sized gummy bear I’ve been thinking about what I saw and experienced and wondering if I’d imagined it. But there it was. A miasma. An ill wind carrying sickness to anyone that inhaled it. It rolled away from me, traveling uphill, and then it passed between two trees and was gone.
I almost walked away. But something stirred in the back of my mind, sluggishly connecting the pieces. Dropping each thing that had happened into place until the pattern was evident.
I’d followed it around the old woods. We’d made a circle and were now at where we’d begun. Except sometimes… when walking in a circle with intent… you don’t actually wind up back where you started.
There are other worlds inside my campground. Many more than what I have encountered already, according to my ancestor.
I walked after the smoke and passed between the two trees and they creaked as I went by them, bending their heads to twine their branches so that I passed under an arch and then…
I was elsewhere.
The hall. I’d found the hall of the gummy bears.
I need to stop using such stupid names for the things on my campground.
The structure was of primitive construction. The ceiling was thatched and birds flew between the rafters. There were no windows and the only light came from candles burning in sconces on the wall. The air was thick with the stink of rancid fat and smoke. I tried to take shallow breaths and walked slowly forwards across the rushes strewn over the dirt floor. Small things rolled and broke under my feet. I did not look closer to see what they were. They felt like bone fragments.
The hall continued on for a long time. The darkness swallowed me up and I could only see a handful of yards in any direction. The columns supporting the roof blurred together, each one the same as the last. Round posts with the bark roughly hewn off, painted in ochre tones of yellow and red. Primitive colors made from the earth. This place was very old, a remnant from the earliest edges of human civilization.
I reached the end of the hall. At first I took the back wall for a mosaic, dark wood interspersed with ivory points of varying sizes. Then, as I drew closer, the shapes resolved themselves. Skulls. The back wall was covered with skulls. Animal skulls of all sizes. I recognized groundhogs, squirrels, deer, and a couple coyotes.
A platform of rough hewn stone was built against the back wall. On it sat a chair, backless, with a rounded seat of hide stretched between two ornate arms. The carvings that covered the legs and arms were the only intricate decoration I’d seen in this entire place.
I crept closer to the chair, trying to get a better look. It was then that I noticed there was something strange about the mortar holding the stones together.
It glistened in the faint candlelight, like a fatty cut of meat.
I drew up short with a sudden sense of unease. Nervously, I hefted the crowbar, taking confidence in its weight. I held still and listened to my surroundings, intently searching for any noise, any sign that something was urgently amiss.
A rattling in the corner. Like the scuttling of tiny claws. I pivoted to face it, just in time to see one of the skulls fall off the wall.
It did not strike the ground. It stopped just short, as if falling into thick snow, and then it tilted gently to one side and went motionless. Smoke condensed beneath it, barely discernible in the dim light of the candles.
It felt like it was staring at me.
Then it was gone, swiftly flowing out of sight the instant I blinked. Heart pounding, I watched the shadows, trying to discern where it had gone. But behind me I heard another noise, like the scrape of claws, and I turned to face it just as another skull fell from the wall. This, too, was caught by the smoke.
I felt like my heart was ready to burst from my chest. The rushing of my own blood echoed in my ears. I licked my dry lips and waited, my eyes darting back and forth in a vain attempt to watch all angles. The room was silent. I couldn’t depend on my hearing. How would smoke make noise?
The first came from my right. It swept in low, the smoke billowing like the incoming tide. I turned on my heel and brought the crowbar down in an overhead swing. It connected just as the creature surged upwards, the empty eye sockets leering. The mid part of the crowbar crushed through the skull and into the brain cavity and the smoke dispersed as if flattened, floating back down to the ground.
Blunt teeth raked against my shoulder. I hissed and spun, swiping sideways with the crowbar as I did. It passed through the column of smoke and the creature faltered, as if losing its balance, and a follow-up swing sent the skull tumbling away in three separate pieces.
More skulls were rattling on the wall. Three fell. Then two more. They were quickly swallowed up in the darkness, only to emerge seconds later, lunging at me from the shadows. I would dispatch one with a well-aimed blow and then turn to counter another. Or feel the bite of their teeth. I could only be thankful there was no jawbone with which to crush whatever limb they latched onto when they had an opening. Still, the teeth broke skin. I barely felt the pain underneath the adrenaline.
They were aiming for my throat. For my abdomen. And for every one I dispatched, another couple skulls would fall.
Then there was another sound, overwhelming the rattling of the skulls or my own frantic breathing. Laughter. A gurgling, wet laugh, emanating from the direction of the throne. I risked taking my eyes off the shadows and saw that the mortar holding the stones together was not… actually… mortar.
It was flesh. Jellied, translucent flesh. And it was seeping upwards, congealing on top of the dais, working its way up the legs of the throne.
And it was laughing.
“Send them all!” I screamed at the dais. “I’ll smash every skull on that damn wall if I have to!”
There were so many now. They crowded between the columns, lines of ivory skulls bobbing on a thick carpet of smoke. I exhaled slowly, trying to steady my nerves. I could do this, I told myself. I was stronger than them. Their teeth could not pierce very far and so I only had to outlast them and protect my vitals. And hadn’t Beau taught me how to outlast?
“Go on,” I growled. “My name is Kate. I’ve killed inhuman things before and I’ll destroy all of you as well if I have to.”
The chuckling finally stopped with a final, satisfied note echoing down the long hall. Panting, I pivoted, watching as the creatures receded into the shadows between the columns. Finally, only once the silence returned and nothing else came out of the darkness at me, did I turn and give my full attention to the mass at the fore of the room.
It covered the throne as a shapeless mound of flesh the color of an onion. A quivering lump fully the height of a human and just as wide, the chair hazy behind the translucent jelly. As I watched, small shapes detached from the dais. Stones, two the size of my fist and the rest the size of walnuts. These slowly made their way up through the entity’s body until they floated in the middle of the space between the arms of the chair. The larger stones positioned themselves as eyes and the rest became teeth. The teeth split apart and it began to speak.
“Have you brought me tribute?” it gurgled.
“No,” I replied.
“Then you are an intruder.”
All around me, the skulls shifted, moving forwards a pace. I resisted the urge to raise my weapon once more.
“That is not my intent either.”
“Ahhhhh.” The teeth spread into a smile. “Then you are a supplicant.”
“Are you a king of the Partholanians?” I asked.
Those ancient people of Ireland who died of disease.
“It has been a long time since I’ve heard their name,” it replied thoughtfully. “We are of them. They had a name for our hall. It has since been forgotten.”
I briefly considered telling it what we call them, but quickly squashed the idea. I didn’t want to cause myself more problems by naming it and I certainly didn’t want to name it “the hall of the gummy bears” I mean that’s a terrible name.
DO NOT CALL IT THAT IN THE COMMENTS.
“There’s thorns on my land,” I said. “They’re rotting the trees.”
“So you seek us?”
“They say the Partholanians died of disease.”
“You are a supplicant, here to beg a boon,” it hissed.
My heart sank. Another bargain. It named what it wanted with no small measure of malicious joy and I knew before it finished that I would not be able to grant what it wanted.
It asked for bodies. Human bodies. Not these weak animals that they steal here and there, filling their wretched, dead corpses with the spirits of its people until the flesh dissolved to pieces around them and they came fluttering back here, to this last refuge of its kind. It wanted living flesh. Strong flesh, that they could inhabit and walk among the living once more.
I said that wasn’t possible. I offered it dead human bodies. It was something, at least, and I could obtain those. The funeral home might be willing to help. I only needed to fulfill the bargain long enough to get a remedy for the thorns, I thought desperately.
The creature refused. They were tired of inhabiting dead things, bodies that had already given up on life and could not be restored. It wanted a heart that remembered how to beat and lungs that knew how to breathe.
“And what of the person that inhabits that flesh?” I asked.
“Perhaps the soul will stay. Perhaps it will depart. I do not care.”
If I did this, it said, it would give me what I needed to stop the rot. I took a deep breath. And I agreed to its bargain. It shook with pleased laughter.
“One last question,” I said. “Why can’t you get a body of your own making, like how the other creatures on my campground have?”
Beau says he remembers being on my land, walking down the road looking for someone to share his drink with. He came from somewhere, as did the hammock monster and the lady with extra eyes and all the others.
“The watcher will not let us pass,” it hissed. “We are too weak. We cannot take form. We can only steal, scavenging the scraps. It is a shameful survival. Do you pity us?”
“No,” I said quickly.
“Nor do we pity you. We see your death sometimes, lurking in the woods.”
“My death?” I asked desperately. “The beast? Or something else?”
It chuckled, a sickening gurgling sound, like boiling mud.
“Bring me bodies,” it said, “and perhaps I will tell you more.”
I recognized the dismissal. I turned and walked away, the skin on the back of my neck crawling under the weight of all those empty eyes watching me go. The doors to the hall hung open for me and when I passed through, the trees unwound themselves and the arch and the hall were gone. There were only the snow-laden branches of the campground.
I’m a campground manager. I have no intention of honoring this bargain. I admit that it is tempting to give some of my more problematic campers to them. Heck, for some of them, being a flesh vessel for the decaying soul of an unborn monster of ancient times would probably be a personality improvement. However, as I’ve discussed before, the town does not look kindly on bargains with evil things. They turn a blind eye to the campground for the most part since we contain the evil things, but I feel this might cross a line. There’s no direct benefit for the townsfolk, after all. I’m not keeping something away from them. The gummy bears are stuck here already. If anything, I’m throwing innocent people into their maw just to make them stronger.
I don’t think they’d accept it being worth the sacrifice to get rid of the thorns, either. They tend to be rather short-sighted. It would take the thorns consuming the campground and overflowing into their land for them to accept the necessity of such a bargain. I don’t have enough time to wait for that.
And I don’t know… it’s kind of nice to be the heroine sometimes. Maybe this is my father’s legacy coming out. He always wanted to save people.
So I’m going to cheat. That’s one of the strengths of humanity. We can freely use deceit. I just need a willing accomplice.
And I know exactly who to ask. [x]
Read the full list of rules.
Visit the campground's website.

ALL CREDIT GOES TO u/hooman_or_whatever
GME Short Squeeze What Comes Next Part 3
Hello all,
Before I begin I would like to address something I have been encountering on my posts in the comments section. I keep receiving some hate concerning my opinions and I want to be crystal clear that they are just that; opinions. I also want everyone to know that is is meant to be a dialog. I am not trying to pump this stock because truthfully, this goes far beyond us retail investors at this point. What I want is a dialog between all sides to examine this truly fascinating phenomenon that is occurring.
I would also like to clarify something, I am not a bagholder. I do currently hold bags because I own 336 shares at a $194.34 cost basis, however, that total amount is house money that was used from my profits on the first go around.
I also understand some people are tired of hearing about this because it's the same regurgitated form of someone else's post as it keeps circulating in an attempt to retain hype and drive future buying; this is not what this post is about. As investors and individuals involved in the world of finance, this situation should absolutely intrigue us whether or not we are involved. I am here to present my logic on the situation but encourage healthy discussion and debate.
This brings me to my first claim. This is not over. Now, I am not claiming that a squeeze will still occur, I am simply claiming it is not over, for better or for worse. Several things need to take place for this to be completely over, at which point I will either post my gains or my losses from the adventure.
When I say "it" I am referring to this entire phenomenon, not one short squeeze. I do not think these events, "it", is over. This is largely due to retail and institutional purchasing not really changing all that much since we found the bottom and established support at a staggering $60. This support was lost today and found new support at $50. There was very interesting ATH action and I'm not sure what to make of it.
Millions of bag holders (not just WSB) are still holding and in fact, averaging down, thereby purchasing more. These same bag holders are absolutely refusing to sell for such massive losses and in turn are becoming long term investors on the stock if another squeeze isn't to occur. People are picking up speculative positions in the off-chance of another squeeze. Others are determining this as a fair value for the company, not fundamentally, but based on the future prospects of Ryan Cohen and team. Finally, it is nowhere near leaving the global stage with important upcoming dates that we will discuss later.
To examine why it isn't over let's look at both sides of the argument:

1. Bulls claim it's not over for many reasons that you can find in the hundreds of other bullish posts, so I won't bore you with those details. My argument on the bull side is more along the lines of what I listed above.
2. Bears claim it is over because there was a 2250% price increase over the course of two weeks, therefore this must be a short squeeze.

I think we can all agree, bear or bull, that something happened. A 2250% increase certainly isn't nothing. The question is...what? I see several possibilities and would like to discuss them in the comments.

1. The shorts in fact covered and this was a short squeeze.
2. The shorts partially covered and this was a partial short squeeze, but the price increase was mainly hype and gamma squeezes.
3. The shorts didn't cover anything and this was a globally hyped price increase in conjunction with several gamma squeezes.
4. Some combination of the above 3.

First, the data:
Based on morningstar the short interest is showing 78.46%. Now, I think the website is having some issues storing cookies because it will show the outdated 226% unless you open it up in incognito.
Market watch is showing 41.95%
This spread is interesting for sure, my thoughts are some of these calculations are including "synthetic longs" introduced by S3.
It is extremely possible to manipulate these numbers via illegal methods and even legal methods using options. Please see this SEC document to explain how this would work. I am not trying to convince anyone to fit my narrative, but these things occur far more commonly than one would expect. The reasoning is because the fines for committing the crime are far less costly than letting the event take place. Please see FINRA's website for the long, and frequent list of fines being dealt out due to manipulation. A common culprit? Lying about short volume.
Let's use the absolute worst case scenario being reported of 41.95%, which mind you is still extremely high for one stock:
The shorts in fact covered and this was a short squeeze
What's interesting here is even if the shorts 100% covered all of their positions, they very well could have shorted on the way back down. Why wouldn't you? It would be insane to not open a short position when this hit nearly $500 especially if you lost half of your companies money; what better way to get it back? For the remainder of this thesis, I will be assuming that some of the short positions that exist are newly opened positions at a higher price unless someone has a counter-claim as to why that wouldn't be possible/probable.
That would mean 226% was covered on the way up and another 41.95% was reopened on the way back down. Based on the volume and price changes throughout the past two weeks this simply doesn't pass the math check.
The shorts partially covered and this was a partial short squeeze.
Again, using 41.95% this is highly likely and the most reasonable case. Some, probably the worst positions, were covered on the way up.
I think this is precisely what happened, we had some partial shorts covering but for the most part it was gamma squeezes, hype, and FOMO whereby the price started climbing so rapidly it became smarter for the shorts to just wait out the bubble than to actually cover all of their positions.
Again, we fall into a "what-if" scenario regarding shorting on the way back down.
The shorts didn't cover anything and this was a globally hyped price increase in conjunction with several gamma squeezes.
This scenario does not pass the math check using the 41.95% figure.
If the data is being manipulated then this becomes very interesting because if some of the worst positions are still open then that means all of these HF's losses that were reported were strictly interest and they are simply waiting this out for as long as it takes making back their losses on their newly opened short positions in t $300-$400 range.
Sadly, this puts us in the guessing range yet again. We can do the math and see it's possible this scenario exists, however, we would be comparing it against losses reported by the entities that were being squeezed.
There are way to many what-if's for me to me consider this a possibility, but I can't write it off completely.
Some combination of the above 3.
Truthfully, this isn't worth examining just yet. There would be far to many "what-if's" to address, this is something that could be address at the later dates that we will get to shortly.
Now, I've heard it a lot regarding the 02/09 data. "It's two weeks old". Well, that is always the case. The FINRA short data is always two weeks old and suggesting that we can't pull any information from it at all is asinine. Where it gets quite murky, is the data includes 01/27 information. This was a day unlike any other in this saga.
I will take this moment to address the following upcoming catalysts and when I truly think this will be done; one way or the other.
Today's data 02/09, was very important because if it showed an extremely low percentage then we know shorts have exited and did not re-enter and this is completely done. Given the data does not reflect that, we now must turn to several events that could act as catalysts for either a further squeeze or a complete shutdown.
02/19 - In my last post, I discussed the Failure To Deliver (FTD) conundrum. I do need some help figuring out the exact expiration date. From here "The close-out requirement states that a participant of a clearing agency needs to take immediate action to close 4 out a fail to deliver position in a threshold security that has persisted for 13 consecutive settlement days by purchasing securities of like kind and quantity."
The exact date is slightly irrelevant because I highly doubt all of these FTD's are going to deliver on the same exact day. This site, while it isn't an official channel seems to be doing a good job of tracking data. If you want to learn more about FTD's and the implications there please visit that site or review my last post which has links to follow for further reading.
02/18 - Keith Gill aka u/DeepFuckingValue will testify before congress and RH CEO Vladimir will be attending. This can go several ways which can lead to an SEC trading halt on GameStop or with evidence that proves foul play occurred. Who knows? It will certainly be interesting and I don't even to speculate on the market reaction to this even because it could go a ton of different ways; it will be an important date nonetheless
02/24 - The next FINRA short interest information will be made readily available to the public. This will be far more interesting and helpful information because it won't include the insane volatility of January, but it will also highlight the newest short positions. This data will help further drive where I think this is all going to end. It's possible that shorts opened new positions at $50 thinking it was going back to $12. Let's not speculate too much here either, it's just another dataset that will bring light to the direction this is headed.
03/25 - GameStop ER. This is big too for several reasons. First, this will include the console sales cycle which historically has done well for GameStop. A typical buy the hype, sell the news event. It will be interesting to see how the market reacts leading up to this ER, maybe people won't even touch GME leading up to then due to the recent volatility, but if they do, and if there is still a lot of short interest, this too could force shorts to begin covering. Another critical part of this ER is Ryan Cohen. This will be the first time this new board addresses the public with their plans for the future and for the first time since this entire adventure began, the "dying brick and mortar" narrative will finally begin to change in the public eye. That is still the common misconception regarding GameStop, that it is a dying brick and mortar retailer where nothing has changed. This hasn't been the case for around 6 months now, but this will be the first time it is publicly address. The headlines surrounding GameStop's future plans will be very interesting to read and the markets reaction will be far more interesting.
I have been asked a lot what my PT is and when I expect the squeeze to happen, but let me be clear. Very seldom do squeezes "just happen". In fact, short squeezes are far more common than one would think, they just typically happen over months, if not years and the shorts cover on dips so you don't even notice it's happening. In order to force a squeeze, you need to hold a decent amount of shorts underwater. Soon one will crack and start closing their position, this leads to a series of shorts closing their positions skyrocketing the price until more and more shorts need to cover. This is rare.
I hope this narrative of purchasing heavily shorted companies comes to a close soon because a lot of people are going to lose a lot of money simply buying up companies because they are heavily bet against. Catalysts and massive changes need to occur like overhauling your entire business as is the case with GameStop.
Normally, shorts will close their positions one at a time, covering on dips and you don't even notice it's happening. In times where you see a price rise of seemingly no news could very well be shorts closing their positions because their research led them to realize this company is on the road to recovery.
I digress. Given the most recent data and the multiple upcoming catalysts I am still very bullish on a GME short squeeze. My post from quite some time ago illustrated the importance of catalysts regarding a short squeeze, this is still very much the case. The first run was interrupted and the second run won't happen with magic, it requires a catalyst. Another post was titled For those who do not understand the inevitable GME short squeeze, was at the time "inevitable" because math. That is no longer the case. It is no longer inevitable but it is still possible.
I want to be clear: This is not nearly as close to a sure thing as it once was and it depends on a lot of different factors. One of the largest is the people. Granted, a lot of what's happening now is in the hands of institutions but millions of retailers holding their positions to the grave certainly helps the institutional buyers have more faith in their play to continue a squeeze.
SO WHAT DO I THINK
I think shorts certainly covered some of their positions, but not all. I also firmly believe a significant amount of short positions were opened on the way back down by both HF's and individuals. Some certainly positioned high, but based on sentiment, it appears a lot of people think GME is fairly valued around $20 (which I disagree with but let's use that for the time being). That would mean shorts would have no problem opening positions at 100,70,60, even $50.
42% is still very high which means a squeeze is inevitable so long as the company continues in a positive path. However, squeezes typically aren't as abrupt as people think. They are actually quite common, in fact another position I'm heavily invested in is SPCE and they have been going through a squeeze for several weeks and will continue to squeeze so long as news continues to be positive.
How would we get an abrupt short squeeze? A massive bull run. The new shorts that entered at lower levels wouldn't be too hard to catch, however, they are probably low volume, so when they buy to close, it won't be large enough volumes for massive peaks, but a bull run very well could lead to these lower tiered shorts closing, triggering a gamma squeeze. If gamma squeezes are made week over week then shorts at the higher end would have two options:

1. Close early and take profits
2. Wait it out because they are positioned so well that interest means nothing and they don't think there is any hope of us rising to those levels.

In the first case, them closing early would be a nice short squeeze to probably several hundred dollars, but it wouldn't break $1000.
To break $1000 we would need a big bull run to catch the shorts, trigger gamma squeezes, and keep momentum until they are caught and underwater. This is highly unlikely unless there is another global sentiment.
NOTE: ALL OF THESE ASSUMPTIONS I AM MAKING ARE BASED ON THE 42% REPORTING. IF IT IS IN FACT 78% THEN THE POSSIBILITY IS TREMENDOUSLY INCREASED FOR THESE THINGS TO HAPPEN.
SO WHEN DOES IT ALL END
My though is if by the end of March these catalysts were not enough to reignite the hype and squeeze, then it will essentially be over except in the case of a few circumstances:

1. A VW/Porche moment occurs where a large buyer picks up a large portion of the company.
2. Some other currently unknown catalyst appears seemingly out of thin air
3. The data was in fact manipulated. Regardless of what the data says, if the shorts did in fact lie about their short int to take the fine over being squeezed, then they will be squeezed regardless.

It is quite possible, that these catalysts and moments aren't enough to force a squeeze anymore especially if the shorts have repositioned really well. I will retain the mindset that this fateful January 2021 was not a short squeeze. However, that does not mean it will ever actually happen.
SO WHAT IS YOUR PLAY HOOMAN?
Well, I am long on GME which is why I didn't mind hopping back in even at outrageous prices. I will continue averaging down and don't plan on selling for quite some time, probably several years. The reason for this is I believe in Cohen and his team to turn this into something unexpected and I imagine an eventual ROI. Once this is all said and done and I think either the shorts truly have covered or they simply got away with it (Beginning of April), I will be posting my DD for GME as a long play regardless of the squeeze mechanics.
Thank you all for joining me on this wild journey. I hope we can discuss some of these points in the comments like adults and truly try to grasp this wild situation we are all in. There are extremes on both sides from "get over it, the squeeze happened" to a cult like mentality on the other extreme. I hope through discussion we can find the moderate approach and further understand the market mechanics at play.
Thanks for your time
WARNING: Until the squeeze business is over for good, this is a very volatile and risky play. Joining now for the hope of a potential round 2 squeeze should only be done in a speculative manner with money you are willing to lose. This is more akin to a gamble than it is investing. I think the current market price is fair given the future prospects of the company but do your own DD, I will not be releasing any until this squeeze is put to rest.
TL;DR: I am still bullish on this scenario even at 42%, if it really is 78% then I am extremely bullish. There are a plethora of upcoming catalysts that could reignite the squeeze but even if none are powerful enough, with Cohen's new direction we could expect good news for quite some time forcing shorts to exit on a more spread out timeline.
Disclaimer: I am not a financial advisor. I do not wish to sway your opinion in either direction. I simply seek to examine this interesting and volatile situation via crowd sourcing. What you do with your money is entirely up to you.

Lord Darnley was not a man mourned by many. Today, his short and indolent life is overshadowed by his legendary wife and the circumstances of his death. But even today, more than four hundred years later, those circumstances are, in many ways, still a mystery. Of the hundreds who would have loved to see him dead—lords, lovers, and ‘friends alike—could his wife have orchestrated his murder? And what of the strange letters that seem to incriminate her?
Note: This is several mysteries wrapped up in one, so, fair warning, it’s disgustingly long. it's also another I have no idea how to tag. Murder? Lost artifact? It's 3AM and I don't care anymore. Apologies for the clunky title, too.
Life:
Lord Darnley, as he is commonly referred to, was born Henry Stuart sometime in 1545. In his infancy, his father—an earl—was found guilty of treason and exiled to England. Darnley received a classical education and was the model of a carefree noble’s son. Eventually, his father’s title was reinstated. Now, Darnley was an ideal candidate for any noblewoman in search of a husband.
One such woman was Mary Queen of Scots, Darnley’s cousin. Mary was taken with him immediately, but not all were; as Sir Walter Scott put it, “Young Darnley was remarkably tall and handsome, perfect in all external and showy accomplishments, but unhappily destitute of sagacity, prudence, the steadiness of character, and exhibiting only doubtful courage, though extremely violent in his passions.” Mary was not dissuaded, and they wed in July 1565, much to the displeasure of Queen Elizabeth. To no one’s surprise, the marriage was not a happy one.
Mary faced incredibly high expectations as the only surviving legitimate child of James V of Scotland and, as many considered her, the legitimate heir to England’s throne. Darnley was not a partner with whom she could share her burdens; instead, he was “shallow, vain, weak, indolent, selfish, arrogant, vindictive and irremediably spoiled.” Darnley spent his days gambling and avoiding court business and his nights with women of ill repute. But he was also prone to fits of jealousy, and was involved in the murder of Mary’s secretary, David Rizzio. Though Mary seemed to forgive him, many have questioned how genuine this was—for all that she was saddened by the unhappiness of her marriage, she was a consummate politician. Whatever the case, she tried, unsuccessfully, to obtain a divorce. Despite this, she gave birth to a son in 1566, and Darnley spent more and more time away from court.
Death:
As the distance between Mary and Darnley grew, Mary became closer to James Hepburn, Earl of Bothwell and Lord Admiral of Scotland. Like Darnley, Bothwell was known for his brutality, licentiousness, and pride. Unlike Darnley, Bothwell was power-hungry and cunning, though he was “more opportunist than strategist.” Darnley, perhaps aware of the close relationship between Mary and Bothwell, became sullen, and eventually, in 1567, took ill (possibly from syphilis) in Glasgow. Mary traveled to him, and decided he would be sent back to Edinburgh to recover at Kirk o’Field house, a small two-story dwelling in a church courtyard (now covered by modern-day Edinburgh, likely under the Old College). Soon after, Mary left to attend a wedding. Allegedly, she remembered she had to attend the wedding at the last minute, after previously saying she’d be spending the night with Darnley.
On February 10th (note: some sources say 9th), a gunpowder explosion destroyed the house. But the explosion didn’t kill Darnley—his body, along with the body of his attendant, was found in an orchard nearby, likely smothered, with a cloak, dagger, chair, and coat beside him. Darnley wore only his nightshirt.
The explosion was strong, powered by two barrels of gunpowder placed under Darnley’s bedroom, and another servant was killed by the blast, which rocked the nearby church buildings. But Darnley and his attendant were not in Darnley’s bedroom, where they almost certainly would have died instantly. What passed for an autopsy in 1567 was performed, revealing internal injuries likely from the explosion, but no visible marks, from strangulation or otherwise. Some contemporaries believed that the surgeons lied about the lack of external injuries, but they would have had few reasons to do so.
Theories & Suspicion:
The most likely scenario is that something—but what?—alerted Darnley to the danger he was in, and he escaped from the house with his attendant using the chair and rope found with them. A pursuer, likely the person or persons who set off the gunpowder, chased Darnley (who would still have been weak from illness), and strangled or smothered him. Alternatively, some think that the explosion was never meant to kill Darnley, merely cover it up—but when Darnley escaped before he could be killed and his body burned, he was murdered in the orchard instead. According to one witness, 12 men went through the gate into the courtyard, and after the explosion, another eleven went by. Witnesses presented a problem, however, because of the differing opinions on Darnley and Mary. But the real mystery isn’t how Darnley died. It’s who did it. Or rather, who ordered it.
Unsurprisingly, Darnley had no shortage of enemies, political or otherwise. As consort to Mary Queen of Scots and scion of a controversial family, dozens of people would have loved to see him dead, to say nothing of his personal unpopularity. In Kirk o’Field alone lived Duke James Hamilton, an enemy of Darnley’s family with whom he had competing claims for the succession of the Scottish throne and the Douglas family, an enemy of Darnley with whom Hamilton had connections. And that’s in addition to the many, many others who might have come to Kirk o’Field to kill the convalescing Darnley, who was, as rumors had it, stark raving mad from syphilis; the family of the murdered David Rizzio, for instance, was quite prominent. In killing Rizzio, Darnley had also committed two capital offenses—unprovoked murder and high treason—and there is a strong possibility that Darnley’s murder could have been an extrajudicial execution, since, as Consort to the Queen of Scotland, he never could have been tried. Another very viable suspect is James Stewart, Earl of Moray and Mary’s illegitimate brother, who may have been attempting to kill both Mary and Darnley to seize the throne; there is evidence that Mary was expected to be with Darnley that night, leading several historians to believe that the target was not only Darnley, but Mary. James has also been accused of having signed a bond with other Lords in December of the previous year, pledging to dispose of Darnley, which makes it just as likely that Darnley was the sole intended victim. Some even argue that if Bothwell or Mary did it, it might have been James Stewart whispering in their ears and manipulating them the entire time—two birds with one stone for him, getting rid of the troublesome Darnley and casting a pall of suspicion over his political rivals.
Bothwell & Mary:
Despite the pool of suspects, the likeliest to most people of the time was Bothwell, who was already considered an upstart with ideas above his station. According to him, thunder came out of the sky, burning the house and leaving Darnley’s body intact. But according to one lord’s memoirs, Bothwell’s servant would allow no one to see the body. he certainly had motive; Bothwell, remember, wanted power—with Darnley gone, Mary’s hand would likely be his, and everyone knew it. Bothwell was tried by Scotland’s privy council in April of that year in what was largely considered to be a sham trial and acquitted. Queen Elizabeth herself seems to have believed Bothwell was responsible, though she was tactful enough not to mention her opinion on Mary's alleged participation. Soon after, he married Mary. It is still debated whether Mary was a willing participant or not; according to her letters, she chose to marry him to protect herself and her country. It is most likely, however, that she was forced through violence or fear to marry Bothwell. As time passed, many still remained convinced that Bothwell, possibly with Mary’s help, had killed Darnley.
Despite his acquittal, Bothwell’s accused associates were not so lucky. One, a captain, was hanged—likely a scapegoat—and several others were hanged and quartered. One of these men claimed that he, under the orders of Mary and Bothwell, had placed gunpowder under Darnley’s room. He also claimed that Mary had given him a key to the cellar under the pretense of wanting a new bed, which is considered strong evidence for her involvement. Mary also did comparatively little to investigate Darnley’s death, especially when compared with her usual forthrightness. And, on the night of Darnley’s death, Mary posted no guards to his house, as she usually did. Allegedly, Mary—who had visited Darnley the day before his death—had also planned on spending the night with him, but had changed her mind. But despite the suspicion, little could be done to the Queen of Scots.
The Casket Letters:
One of the most interesting parts of the Kirk o’Field mystery are the Casket letters. Soon after Mary’s wedding to Bothwell, James Stewart—another possible suspect in Darnley’s death—rebelled, leading a group of ‘Confederate Lords.’ Bothwell fled to Scandinavia, where he was caught and imprisoned, and died in April 1578, in “appalling” conditions. Mary, however, was put under house arrest (castle arrest?) and abdicated in favor of her infant son, becoming the Regent of Scotland.
Rumors soon spread that she was abdicating because incriminating letters had been found proving her involvement in Darnley’s death. This seems to have begun with James Stewart, who told an ambassador (and not Queen Elizabeth) that he’d “heard of” someone having found letters from Mary to Bothwell about the murder. Then, the Bishop of London, Edmund Grindal, said he’d also heard of these letters, and that they showed Mary urging Bothwell to speed up the plot. According to a document from the Confederate Lords, these letters were found and disseminated before Mary’s abdication, and the existence of these letters was confirmed in a statement to Parliament confirming Mary’s abdication: “it is maist certain that sche wes previe, art and part (complicit) and of the actuale devise (plot) and deid of the foir-nemmit murther of her lawful husband the King our sovereign lord's father.” In the official charges against Mary, called Hay’s Articles, its alleged that a servant of hers was ordered to retrieve the letters but was caught and, after torture, gave the letters to Earl Morton, one of the Confederate Lords.
Thus far, the letters seem like little more than slander. But the so-called Casket letters were soon presented to a group of officers of Queen Elizabeth, and compared with known samples of her handwriting. The results—at least those released officially—were that the Casket letters were genuine. And, suspect as these results may seem, several other independent investigations revealed the same, even by those who wanted strongly to support Mary.
The collection itself, housed in the titular silver casket, contained eight letters, two marriage contracts, and twelve sonnets. The authenticity of the sonnets are questioned;, as one historian pointed out, they are far clumsier than what Mary would likely have written, and don’t fit the genre of “courtly love poetry” she would have known. The marriage contracts, which allegedly depict Mary and Bothwell’s union a full month before they’re known to have wed, seem to be an almost certain forgery, since they include excerpts from events that occurred after they were allegedly written, though some argue that the dates could easily have been either confused or deliberately miswritten. But the letters themselves, if true, are the most damning. The first two, known as “the short Glasgow Letter” and “the Long Glasgow Letter” (note: the texts of both are linked, beginning on page 127, as well as some excerpts. There are several translations, all of which differ, but the overall meaning is the same) allude most obliquely to a murder plot and affair between Mary and Bothwell. Some claim that the disparities in dates may be because all of the writings are Mary’s, but different dates were added later to make the Casket letters more incriminating.
Today, we would be able to compare Mary’s known writing to these letters and determine her guilt once and for all—but the letters are lost. They seem to have remained in Earl Morton’s possession until he was unexpectedly executed, after which they changed hands several times. Eventually, they ended up with the Earl of Gowrie, who refused to give them to Queen Elizabeth. Instead, they were given to King James VI, Mary’s son, and likely destroyed in 1584, though some still hope that they might have been hidden away. Several copies remain, one in French and the others translations into Scots and English. Now, whether or not the letters were authentic is almost impossible to ascertain, and as such, so is the true extent of Mary’s guilt, if she was guilty at all.
Final Thoughts & Questions:
The evidence against Bothwell—and perhaps Mary—certainly seems strong. But some, maybe conspiratorially, think that they were merely scapegoats. The English government certainly had reasons to want them gone, blamed for this crime and forever shadowed by it, their rule and chances for the throne destabilized. It certainly did shadow Mary for the rest of her life, and she never quite escaped suspicion. But Mary and Bothwell, as well as the English government, were clearly not alone in wanting Darnley gone, and the various nobles had motives that were just as strong. James Stewart, Earl of Moray, certainly ended up quite well; he flourished as regent of Scotland (note: before his own assassination where, fun fact, he was the first head of government assassinated via firearm) while Mary was eventually executed after a long period of captivity.
Interestingly, yet another mystery surrounds the events at Kirk o’Field. You may have noticed in my images the inclusion of sections from a sketch; this drawing, from soon after Darnley’s death, was created to summarize the murder scene. But several elements have been a source of confusion for hundreds of years; the artist includes, for instance, a group of riders in the corner. Those riders, however, were not mentioned in eyewitness testimonies until weeks later. How, then, did the artist know about them?

• Who ordered and who carried out Darnley’s death? Exactly how did it happen?
• Was it Bothwell and/or Mary, James Stewart, The Rizzios, James Hamilton, or someone else entirely?
• If Bothwell was responsible, how much did Mary know?
• Are the Casket letters authentic, a mix of fact and fiction, or simply forgeries?

Sources:
https://www.bl.uk/collection-items/map-of-the-murder-of-lord-darnley-1567#
https://www.tudorsociety.com/10-february-1567-murder-henry-stuart-lord-darnley/
https://www.nationalarchives.gov.uk/education/resources/kirk-o-field/
https://www.rse.org.uk/wp-content/uploads/2016/10/Who-Killed-Lord-Darnley.pdf
https://www.historyextra.com/period/tudodownfall-mary-queen-scots-execution-murder-lord-darnley/
https://www.britain-magazine.com/carousel/who-killed-lord-darnley/
https://en.wikipedia.org/wiki/Murder_of_Lord_Darnley
https://en.wikipedia.org/wiki/Casket_letters
https://archive.org/stream/casketlettersmar00henduoft/casketlettersmar00henduoft_djvu.txt (the letters)
I genuinely thought this was going to be short. hahahahaha

It had been centuries since the Luddite Wars but the scars across the badlands had still not fully healed. Twisted spires of half melted rock loomed over glass smooth craters pockmarking a desert of orange sand. Sand that had formed from the rust and decay of thousands of tons of burning steel from long abandoned cities. Though rarer now, sometimes the winds would uncover a new pocket of irradiated debris and scour the barren lands with a new wave of radiation. But, other than a few isolated pockets, the battered and scabbed land - bitter and sterile though it was - no longer could be said to be lethal within hours of entering it. Still, with its nightmarish hellscape and it's metal laced grit battering anyone foolish enough to enter, the area more than earned its moniker of Damnation among the survivors. It was said that only a great fool or a madman would ever ride out into Damnation. The sight of just such a rider emerging from a cloud of rust colored sand caused a stir of dread to pass through those that manned the Wall that day.
Still too distant to make out details even with use of the periscope. In wilder days when the winds were still fierce and still hot with radioactive winds a brave soul might have volunteered or been coerced into exposing themselves from the protection offered by the wall to Damnation and venture on top to use a spyglass. But, as the centuries passed and the desert cooled both the Keepers and the Wall itself succumbed to the ravages of time. The sixteen meter tall line of concrete and steel that stretched from horizon to horizon was now just a stained and crumbling shadow of its former glory. Gaps showing exposing the rebar underneath were evident on both sides but, for now at least, the Wall still held. As for the Keepers themselves? That profession which was once viewed as a vital part of the defense of the remnants of humanity had gradually suffered its own form of social erosion. From a respected job to one that was used as a prison sentence to a refugee camp for society's outcasts. The current Keepers were little more than scavengers attempting to carve out their own niche from the scant protection offered by the Wall. So, they contented themselves to observing the stranger through the narrow eyepieces of the periscopes. Watching and waiting.
The stranger was garbed in a fashion appropriate for desert travel. That is to say with no exposed skin and a full face breathing apparatus. The stranger's long coat and wide brimmed hat both appeared to have once been black but had long since been stained orange by the clouds of dust. Gloved hands gripped the reins of the horse tightly while glassy lensed eyes stared straight ahead while a tube extended from the mask to a chest mounted purification unit. He sat stiffly with no wasted movements and seemingly to sit impossibly still atop the saddle. If not for his upright stance and subtle adjustments to the horse's pace as it navigated the uneven terrain, he might have been mistaken for a dead man. The man was obviously still alive. The horse, however, was not.
As the rider and his mount grew closer it became more and more evident that the horse was, in fact, quite dead. The eyes were gone and were now just hollow pits. Bone could be seen jutting out from the rotting flesh along the nose and exposing a bone in one foreleg and part of the ribs along the chest. Blackened rips along the horse's flank were evident where the flesh had ruptured during putrefaction and fluids now weeped from these open sores. Still, the horse walked. Stiffly and mechanically as if it's decaying flesh had somehow been stretched over an automaton. In a sense, that is exactly what had happened.
"Necromancer," Bri of the Evening Watch swore.
"Are you certain?" Vict asked without bothering to rise from his seat. VIct wore the copper badge used to identify a sheriff. The Wall had long since abandoned the position of sheriff, but not the badge. It was now used to identify the First among the Keepers. A position that Vict had held well into his gray haired years. Positively ancient in Wall terms. One day he knew his reflexes would slow and the hand or knife of some upstart would claim his badge. But, for now, Vict's rule had been a successful one. The few crops that would grow near the wall were plentiful and the people in the Wall were thriving as well as could be expected. They had successfully defended themselves from rival Wall tribes that had seized control of their own gates and, as much as was feasible considering the environs of living within the Wall, his people were content. Vict was considered a strong leader. A wise leader. His gray hairs were a testament to that and as long as he did not make mistakes he would be allowed to grow new ones. For now. "His mount is dead," Bri clarified, "It has been ravaged by the desert already. I do not think anything more than proximal arcana could be keeping it going now."
Vict nodded and, finally, arose from the crudely constructed chair to don his own duster. He disliked walking out on the Damnation side of the wall. But confronting this stranger was his duty as First. But, no need to do so alone.
"Can you tell if he's armed?"
"Not yet," Bri admitted, "The light is bad and he is wearing dark clothing. I think there is an electro-rifle on his saddle but he may have a sidearm as well."
"Good enough," Vict said, "We'll assume he is. Summon the others. I want at least six men joining me at the gate. And bring the coil guns with you."
"Those haven't worked in decades, Vict."
"No need to let him know that," Vict remarked as he donned his hat, "We'll just keep that as a surprise for him."
"On it," Bri said with a grin as he scurried off down the corridor towards the living quarters beyond. Some members of the Watch may need to be woken up, Vict knew. The Watch was rarely called upon these days and some had probably long since forgotten what their shift may actually involve. Only a handful, like Bri, were still diligent enough to show up to perform the most minimum of duties. It was a distressing trend but one that Vict himself knew no way of stopping. People guarded the wall from threats along the corridors and from the goodlands. No one cared to stare into the interior.
Vict sauntered towards the door that opened out into the tunnel of the Gate. He soon found himself standing before the massive doors that served as the final barrier between him and Damnation. Fifty meters behind him were doors that opened up into the Goodlands. Those doors they kept ajar most of the day to allow for ventilation. The doors before him had not been opened in years. He wondered if the mechanisms still worked.
He heard the Watch assemble behind him and, without looking to count their numbers or verify they were even dressed and presentable, he signaled the doorman to activate the giant motors that would ease open the doors. It took several minutes for a crack large enough to admit a man on horseback to open. As the doors swung out and away from him, Vict marched forward. He heard the others following him.
The metallic tang of the desert of Damnation stung his nostrils as he edged closer to the boundary of the badlands. As the gap widened the man and the dead horse came into view.
"That's far enough!" Vict shouted.
To his surprise, not to mention considerable relief, the horse stopped short and the motionless rider did not reach for a weapon. Madness was unpredictable after all. He should not expect a reasoned response from a man performing an unreasonable action.
The rider sat there upon his dead horse and, presumably, studied Vict and the Watch. If he was intimidated by their presence he gave no outward sign of it. Slowly, the man lifted one hand away from the reins and reached towards himself. Vict tensed for a moment but relaxed when he saw the hand was not reaching for a holster but rather angling for the respiration unit on the chest. The stranger flipped a switch to activate the speaker. So, he just wanted to talk. That was encouraging.
"I am looking for someone," the stranger's distorted voice crackled from the speaker, "Did another rider come through here some time ago?"
"No," Vict answered.
"Are you certain?" the rider asked, "It would have been many months ago. I can provide a description."
"These gates have not been opened over ten years," Vict clarified, "He didn't come this way."
The rider cocked his head to one side and then seemed to take in the expanse of the wall slowly.
"Perhaps another gate, then?" he asked, "Do you communicate with the other gates?"
Vict shook his head.
"The tribe that took the next gate isn't exactly friendly to our cause," he explained, "The gates further down the line? They may be more neighborly but it's a long walk to find out."
"I see," the rider said, "Then may I request passage through your gate?"
"Are you here to start trouble?"
"Yes," the man replied.
Vict blinked in surprise. He had expected madness, certainly, but being honest about it was new.
"Don't see as to how it benefits me to allow that then," Vict declared. He then motioned back towards the desert,
"Turn around the way you came."
"I can pay the toll if there is one," the stranger offered.
An intriguing offer, actually. Vict almost considered it. Good coin could be valuable in trade with the cityfolk. Still, if they found out he let trouble in then the cities may also attack in retaliation. Good coin spent no better than no coin when you were dead.
"Tempting, but I'll pass," Vict said, "I told you to turn around. I won't ask again."
The speaker crackled as the man sighed.
"Very well," the rider said, "I had hoped to do this another way. But if you insist."
Quicker than he thought would have been possible, the stranger's hand flashed into the interior of his coat. It was out again in an instant and an object was hurled at him. Vict retreated half a step and reached for the knife on his own belt. To his surprise, the object landed gently on the sand near his feet. It was not an attack after all. Curious, he stepped closer and looked closer. He felt the blood drain from his face. It was not a weapon, no, but it was definitely still a threat.
"You're a marshal!" Vict hissed angrily.
"And you are interfering in my lawfully sworn duty," the Stranger replied, "Will you grant me passage?"
This was bad. The badge that laid upon the desert floor before him was not like Vict's own. It was not a piece of metal. This was an actual biolocked minicomp. This badge could only be carried by those who had the full weight of the Restored Pan-Continental Alliance behind them as well as the Oligarch itself. Each badge was said to be a miniature mainframe that could be used to open any digital lock, access any account, and take control over any computer system if needed. If it still used a computer, it would yield to the badge if the wielder wished it. If that wasn't bad enough, if it was handled by anyone other than the biolocked owner it would administer a lethal discharge. Still, Vict hesitated.
"We don't really have a lot of use for the PCA this far out in wastes," he remarked, "Figured they forgot all about us."
"Just focused on other more pressing matters at the moment," the marshal clarified, "Cooperation now would be in your best interest."
Vict recognized a threat when he heard one. What's more, now that the badge had been thrown out, he was certain the Oligarch itself was listening in on them. The last thing the Wall needed was a cybernetic army marching down upon them.
"Yeah, well," Vict said as he stepped slightly to one side. Not quite yielding passage but not completely blocking it either.
"I still have to consider the people beyond," he explained.
"You have my oath my quarrel is not with you nor the people of the wall or the points beyond," the man said formally, "My bond is the apprehension of a singular individual."
"Do you swear," Vict asked, "That you will cause no harm to anyone other than your current assignment?"
"I make no such guarantees," the stranger countered, "I am entrusted to enforce the Oligarch's law. However, if you insist, I swear I will not exercise more force than is deemed necessary to achieve this goal and I will not interfere with any matters that I may observe that are outside the scope of my immediate objective regardless of their legal stature within the PCA save for Class II felonies or above. Such acts would supersede any oath I am authorized to provide."
Legal speak for "if I see someone being murdered, raped, or dismembered I'm legally required to interfere. But I won't stop people from lying, cheating, gambling, or partaking of illegal substances." Considering the authority the badge was offering, it was actually a very generous concession. A little too generous and one that immediately raised suspicions.
"And what do you expect in return for such an oath?" he asked.
"You have armed men behind you," the stranger noted, "Are they available if I require the assistance of a posse?"
"They're armed," Vict confirmed, "And trained for what it's worth. But I need them here."
"I did not ask that they be removed from service indefinitely," the stranger said, "I am asking if I have need of additional gunmen if you will provide them."
"And if I saw no?"
"Your gate is mechanized," the marshal pointed out, "Presumably computerized as well. As would be many of your wall's defenses."
"So I either take your oath and cooperate willingly or you take it by force?" Vict replied before grunting, "And if I tell my men to fire?"
"Then you simply have to hope they kill me first before I shoot any of them," the stranger said, "Otherwise I will have their corpses start shooting at you."
Vict sighed.
"You also offered payment before?" he reminded the stranger.
"An offer that was conditional on me not having to reveal my badge," the stranger said, "What is your response?"
"Your oath then," he said, "I need something to show we enacted our duty to protect the interior."
"Then you have it," the stranger said, "I swear to harm no one beyond this gate save in purview of my lawfully sworn duty and the scope of my current quarry."
There was a chirp from the badge. Vict assumed this meant the Oligarch had acknowledged the oath. If memory served, the oath of a marshal was considered a law in of itself. The badge would make certain its wielder stayed true to this pledge. With lethal force if necessary.
The rider came closer and now Vict could smell the rotting flesh as well as see it. The horse did not breathe, he noted. It moved silently and robotically with no external cues from its rider.
"Could you hand that back to me, please?" the rider asked while pointing at the fallen badge. Vict hesitated.
"It won't sting you as long as I am present and have given you authorization to touch it," the marshal assured him. Vict could not afford to lose more face in front of his men. This encounter had been humbling enough as is. He picked up the silver bar. Nothing happened. The surface was cool to the touch but did not otherwise harm him. If not for the dancing lights just below the metallic surface he might suspect it was a forgery. He handed it back to the rider and hoped he did not appear to be in a hurry to be rid of the thing.
"Thank you," the rider said and looked through the tunnel ahead.
"What town is beyond that gate?" he asked.
"The closest one is the town of Clean Air," Vict told him and shrugged, "It's an older settlement. Mostly just a few farmers and a saloon. Not much happening there. But you can get a bed for the night if you need it at the saloon." The rider nodded and started to ride forward. Without knowing quite why he did, Vict decided to add, "If you continue west and follow the ridge line you can find the Healing Valley.."
The horse froze mid step.
"What did you say?" the rider's speaker crackled.
"If you ride a few days west along the ridge line you will find the Healing Valley," Vict said, "At least, that's what I've heard. Everyone is heading there these days. Maybe your man is well."
"These Healing Valley," the rider asked, "What is it?"
"I don't know, really," Vict admitted, "Some new commune or settlement. I don't know. They say there is some sort of spring there or something that has a healing arcana. All I know is that the lands are very fertile and they say even mutants can drink from these waters and be renewed."
"You said it is to the west along the ridge line?"
"Yes," Vict said and, before he could add more detail, the dead horse surged forward into a gallop. The horse and rider went through the gate into the good lands at a pace no normal steed could hope to maintain. The horse kept this breakneck pace up without tiring as it flew past the settlement of clean air and angled towards the ridgeline beyond. As the sun sank the horse galloped on without showing other signs of fatigue. The rider, meanwhile, reached up with one hand to unbuckle the straps of his mask. Moving with the horse and anticipating each movement as if they were somehow joined together, he managed to free himself from the confines of the mask and breathed unhindered for the first time since leaving the Citadel across the wastes.
By the time the sun rose again the horse was beyond even his ability to sustain. The leg bones had cracked until the wear of racing along the rocky path at full speed and ruptures had appeared all across its flanks. He eventually led it to the side of the road and into a small gully between some stones. There he released his grip upon its body and allowed the flesh to resume its normal decaying processes. It was of no concern anyway. He could tell he was in the right place.
"Kincaid's here," he subvocalized. The implant just below his right ear heard him all the same and the Oligarch's response was immediate.
"Have you made visual contact?"
"No," he admitted, "But I can see evidence of his work. There is a valley below me. Lush fields of green with crops too large to grow by natural means."
"You are certain this is his work?"
"There's no death," he said, "I can't sense any at all around me. Even the soil. There is no decomposition taking place. The ground itself is essentially sterile. The only thing keeping these crops alive is his will." The Oligarch was silent for a moment. That in itself was troubling. It's processes worked many times faster than a human's. What could cause it to hesitate?
"Repositioning a satellite," the Oligarch explained for him, "And initial telemetry indicates you may have a bigger problem than we thought. That valley extends for several kilometers to the north and south of you. I estimate its total area to be in excess of 400 square kilometers."
"His power is still growing," the marshal concluded grimly.
"Even our worst case projections did not account for this," the Oligarch confirmed, "The area of influence is enormous and for him to sustain that much power without arcanic blowback is unheard of. This should not be possible with the resources available to a human mind."
"He's not exactly human anymore," the rider reminded the Oligarch.
"No," it confirmed, "He is not. Still, the organic strain should be crippling. He must be using his own power to sustain himself. That should be creating a feedback loop."
The rider nodded.
"Maybe the valley is a way of bleeding off the excess?" he suggested.
"Plausible," the Oligarch said, "But that creates a scaling issue. At some point he will be exerting more just to keep the blowback from consuming him than even his own enhanced vitality can maintain."
"When will that happen?"
"Uncertain," the Oligarch admitted, "I already stated this does not fit within current models. There is more."
"Don't tell me," the rider said, "The zone of no death means that my own arcana will be diminished."
"Or absent entirely," the Oligarch admitted, "Given that he cannot sustain this level of involvement indefinitely I believe this most likely indicates he is aware of you and that you are walking into a trap."
"So what do you suggest?" the rider asked, "Wait it out? See if he collapses and then go in?"
"The sphere of influence has already corrupted the local ecosystem and is likely impacting residents as well," the Oligarch said, "If this is allowed to progress unabated the damage is likely irreversible and may have a cascading effect on neighboring ecosystems."
"So if I don't walk into the trap," the rider translated, "We may have a full on ecological meltdown that will cost millions of lives. If I do go in and try to do damage control, I'm going in without my arcana?"
"You could return to the Wall and recruit more allies," the Oligarch suggested.
"No good," the rider said, "Once we go in then Kincaid can twist them too. They are all living people. Can you send a drop ship in?"
"If I could spare one do you think I would have sent you?"
"No," the rider agreed and sighed, "All right, into the trap I go."
The stranger returned his attention to the dead horse beside the road. In the short time he had been distracted a swarm of insects and all manner of flying and burrowing creatures had descended upon the animal. It's hide now was a virtual living carpet of creatures feasting upon the first real meal they had had in who knows how long. Before this he was certain it was only the power of Kincaid's aracana that had been keeping them alive. Alive but starving. Well, if Kincaid didn't know he was here before this had just sent up a big flare. Grimacing, he reached into the swarm of insects to retrieve his rifle from the saddle.
Walking into the valley below was surprisingly uneventful. No one rose to challenge him nor did any feral creatures attempt to accost him. If he didn't know better, he would think this was just another agricultural sector in the PCA. In fact, now that he was closer, the crops closest to him appeared to be the standard genetically engineered high yield wheat hybrid grown in the AgSec. Only a full meter taller. As he drew closer he caught the sounds of someone in one of the fields ahead of him. Curious, he slung the rifle's strap over his shoulder and checked both pistols were firmly in their holsters. Cautiously, he approached the source of the noise.
He found himself stepping into a small clearing among the dense grains occupied by an elderly man wearing what appeared to be tattered clothing that had a homespun look to it. The trousers were frayed at the ends and had been patched so many times and with such a variety of fabrics it was difficult to determine the original coloring. A brown vest covered his chest and left his arms exposed. The man was facing away and appeared to be attempting to cut down a swath of the grain using a sickle held awkwardly in the man's left arm. This was despite the fact that the man's right arm appeared to be more than twice the size of his left and had an uneven lumpy appearance as well as several gnarled scars across the surface. Holding his right arm stiffly, the man swung the tool. The stalks tumbled to the ground around him and the man cursed again.
"It's growing back too damned fast!" the man shouted at last.
"What is?" the stranger asked, "The wheat?"
The farmer wheeled around with his blade held high as if preparing to strike. The stranger, though armed, held his hands out to the sides in a gesture of peace. The farmer looked him up and down as if evaluating him before deciding to lower his blade.
"Who are you?" the farmer asked.
"Just a friend passing through," the stranger replied, "I heard you back here and thought you might need some help."
"Friend, eh?" the farmer asked with a snort, "You don't look like any friend I know." The stranger nodded his head towards the crops.
"What seems to be the problem?" he asked.
The farmer rolled his eyes back towards the recently felled grains and snorted.
"Look for yourself," he instructed, "See those stalks I just cut? Watch em."
The stranger did. It did not take long to notice what the farmer wished him to see.
"They are regenerating," the stranger declared.
"That's one way of looking at it," the farmer snarled, "Being a damned nuisance is another. There is supposed to be a path here to get back to my house. I can't clear it faster than it tries to grow back. I can't even leave those grains on the ground too long or they start sprouting as well."
"Can you burn a path?"
The farmer shook his head.
"Doesn't work," he explained, "Fires just go out and the plants heal themselves. You're new, aren't you?" The stranger nodded.
"I just came from the Wall," he explained, "I heard of a place called the Healing Valley and thought I would see it for myself."
"Healing Valley?" the old man spat, "Guess now that the Minister's here calling it plain old Coppertown ain't good enough for the likes of them."
"The Minister?"
"Look, son," the old man said patiently, "I ain't got all day to spend here talking to the likes of you. Now, you want to talk then you can help. You reap and I'll bag 'em."
The stranger seemed to consider arguing but finally nodded. He unclipped the respirator and mask from his chest before unslinging his rifle. He then doffed his coat and hat before bundling the gun and smaller items inside the confines of the coat. The stranger could be seen clearly now and the old man found himself staring at a younger man with sharp features and a hawkish beak of a nose. The stranger's hair was black and full unlike the old man's stringy gray locks. The hair was kept brushed straight back in what appeared to be a choice of convenience rather than aesthetics. The stranger's face was neither cruel nor kind nor even particularly handsome. It was just an everyman face. So why did the old man feel so certain this stranger who called himself a friend was hiding something behind those dark eyes?
"Name's Yacob," the farmer introduced himself, "What do they call you?"
The stranger didn't reply. He simply picked up the sickle and started hacking at the grains with quick and efficient motions. He did not have the skill nor the technique of an actual farmer, but he made up for it in speed. Yacob found himself hobbling along after the man while shoveling fallen grains into a sack.
"So, not big on names, eh?" Yacob remarked, "That's fine. I'll just call you Cat for the moment."
"Cat?"
"Because you should mind what curiosity did to one of those," Yacob snapped, "You just keep cutting and I'll answer your questions. But only until we get to the porch. Once we reach the house the deal's done."
"How far is the house?"
"Not far else I wouldn't have made the offer. So stop wasting time and ask what you came for. I know you ain't here to admire wheat."
"Fine," the stranger said, "Tell me about the Minister." Yacob shrugged.
"Not much to tell you," he said, "He showed up here about a year ago. Big talking man like you. Wouldn't tell us his name either. Just started talking like he was a preacher man. Going on about the rightful place of man and unshackling ourselves from the burden of slavery. Real 'make the world a better place' nonsense. Folks didn't really listen to him at first. But then the miracles started happening."
"Miracles?" the stranger grunted as he cut, "Like what sort of miracles?"
"I was getting to that!" Yacob snapped, "Don't rush me! Now when I say 'miracles' I don't mean loaves of fishes falling from Heaven. I mean like Bailey Moskva being able to walk again. Or Happy Tam regaining his vision. People in the town just started getting better. Healthier. But it didn't stop there. The crops were dying. Only they just stopped. Vegetables that were dying on the vine the day before got better. That kind of miracle."
The stranger, who was just now starting to breathe heavy from the exertion, only nodded his understanding and continued to hack away at the grains. He used to tool more like a machete than as a harvesting tool but, again, it was still better progress than Yacob could make on his own.
"In the early days we all thought that, well, maybe this Minister was onto something," Yacob went on, "He kept talking prosperity and we were feeling it, ya kin? Even the most piss poor farmer was having a bumper crop. All these lame folks who worked in the mines were getting healed up. Even the sick and the dying were up and walking around. It seemed like the good days would never end and people were praising the Minister and all his bollocks."
"But not you?" the stranger asked between gasps of exertion.
"Oh I fell for it to," Yacob said, "Me a hardcore believer, that I was. I even stood there smiling proudly as he took my Abby into his inner circle."
"Abby?" the stranger asked.
"My daughter," Yacob admitted with a sigh as he bent over to pick up more of the fallen wheat, "My little girl. She was such a delight to me and looked after me after the passing of my Elsie. All of twenty two years old and when the Minister said he chose her I was proud as a peacock."
The stranger slowed his frantic hacking.
"Something happened?" he asked, "With Abby?"
"Bah!" Yacob said, "Never you mind. That's none of your concern. I told you what you wanted to know. Now ask something else!"
"Why didn't you ask him to heal your arm?" the stranger asked.
Yacob froze in place and blanched.
"What?" he stammered.
The stranger paused and turned to point at the engorged and irregularly shaped right arm held limply at Yacob's side.
"Why didn't you-?"
"I heard what you said!" Yacob shouted, "Stand aside! I don't want any more of your help! Be off!"
The stranger didn't move.
"I meant no offense," he said, "It just appears that you have had a-"
The stranger moved his hand to indicate the swollen right arm. Yacob, seeing the movement, misinterpreted and jumped backwards while yelping. To the stranger's surprise, the right arm moved. Not only did it move on its own, he heard a faint whirring sound as it did. Yacob howled in pain and dropped to the ground. Blood trickled from an open wound in the arm that wasn't there before.
"Now you see what you made me do?" Yacob asked between clenched teeth, "That metal cuts right through!"
The sickle fell from the marshal's limp fingers. Those bumps. He recognized them now. They were in the approximate position and size for servo motors. Which could only mean one thing.
"That's a cybernetic arm," he said out loud.
"'Course it it!" Yacob snapped, "I lost the real one sixteen years ago in the mines! The mechasurgeon fitted me with a new one. Never really gave me any problems until this skin started growing over top of it."
Of course, the marshal realized. He should have realized. With the field of the arcana flooding the area even old wounds, healed wounds, would be affected. Growing a new arm would be impossible with the prosthetic in place. But escasing it with a new layer of skin was still possible. He felt sickened at the thought of living flesh growing over the metal arm and getting trapped inside the motors and actuators. The skin stretching and tearing only to heal over and do it again and again. He suddenly understood the bitterness of the farmer. He picked up the sickle, turned, and hacked at the vegetation with renewed vigor. Kincaid would pay for this. He would pay.
"Wait," Yacob said, "I told you-"
"I'm getting to your house," the marshal growled, "That was the agreement. You answered your questions and now I am doing my part."
He paused for a moment to lower the blade but only for as long as it took to unbutton the cuffs of his sleeves and to roll them up. He then resumed his relentless hacking and slashing. After a few minutes of labor he found himself staggering free from the dense vegetation and standing upon a wooden platform. Blinking in confusion, he lowered the tool and realized he was standing on the porch that had been his original objective. He dropped the sickle and turned to go. He found his way blocked by a cursing Yacob limping after him while dragging the marshal's coat and rifle in his wake with his one functional arm.
"Slow down!" Yacob gasped as he joined the marshal on the porch, "I can't keep up with your-"
Yacob'e eyes grew wide as he froze in mid step. The marshal looked in the direction of the man's gaze to see if he could find what had alarmed the man. It took him a moment to realize it was the fine parallel lines of the scars running along the marshal's own forearms. The lines, usually too faint to see, were an angry red from his recent exertion.
"It's just an implant," the marshal said between gasping breaths, "I'm a cyborg like yourself."
"Like me nothing," the farmer counted, "Them's battle implants. Are you a deserter?"
That was an interesting question.
"Do you get many deserters here?" the stranger asked as he retrieved his property from the limp grip of the older man.
"A few," Yacob admitted with a shrug, "Mostly PCA. Sometimes Oceania. Which are you?"
"I'm . . . not a deserter."
The old man snorted.
"I'm not," the marshal said, "It's complicated."
"Well," the old man said with another shrug, "At least now I know how you were able to push yourself like that. I hear those implants really juice you boys up."
The marshal didn't answer. Instead he turned to take his leave.
"Wait," Yacob said as he placed a restraining hand on the marshal's chest, "I didn't mean to yell at you earlier. It's just . . . it's not a good idea to talk about the Minister like that. Not out in the open. Not everyone sees him the way I do."
"I understand," the marshal said and then stepped to one side, "I have inconvenienced you enough for one day."
"You know him, don't you?" the old man asked as the marshal stepped up beside him, "That's why you were so keen to ask me those questions. Is that why you're here? You're after him?"
"Thank you for your hospitality, Yacob," the marshal replied, "I should go."
"Wait," the old man pleaded, "You should know about something if you plan on facing him."
"What is that?" the marshal asked while turning to face the smaller man. With a pained expression on his face, Yacob lifted his mangled prosthetic. The marshal heard the whir of servos fighting against the flesh coating. The farmer held up his arm and showed the unlined palm of his hand to the marshal. There was a peculiar bulge there.
"This," Yacob said just before a lightning bolt erupted from the palm of his hand and tore through the marshal's chest only to explode out the backside. The marshal crumbled to the porch with a look of confusion still painting his features.
Tune in for our next exciting episode!