Bitcoin weekly RSI just slipped below 30 for only the fourth time in history.
If you longed the weekly $BTC close and held for 1 year:
2015 → +112%
2019 → +136%
2022 → +26%
Great explanation of the case in layman’s terms. I support these guys 100%. They did nothing wrong which was why the case was reviewed and tossed out by the judge. The older I get the more I see how corrupt and incompetent these government three letter agencies truly are.
The case in a nutshell:
Them: “You bought, you posted, you sold. Fraud!”
Me: “I also sold before I posted, and bought after, why leave that out?”
Them: “We’re not gonna talk about that part. Any time you sell anything, we call it a dump.”
Me: “But doesn't dump imply I made prices fall too? Because they didn’t.”
Them: “Dump means whatever we want it to mean!”
Me: “But, I traded that ticker like 50 times that day. And the next day. And over the next week.”
Them: “Irrelevant! We’re not telling people that part. What matters is...look...you made a false statement!”
Me: “Which one?”
Them: “You said you liked the stock and ‘it could go to $10 IMO’.”
Me: “Isn't that just an opinion? And also, didn't it go to like $12? So, it's both an opinion and a true statement.”
Them: “IRRELEVANT! You sold once along the way, so you lied!”
Me: “I sold some, then I bought more, then sold again, like every other day trader. You don't mention that part. It's just risk management and trading.”
Them: “We don't like it!! Fraud!”
Me: “So how long am I supposed to hold?”
Them: “Doesn’t matter, we will still call it fraud.”
Me: “Weird. So you’re telling 1% of the story and deleting all the context?”
Them: “Exactly! That’s how we confuse people!”
Me: “...Okay? But I’m a day trader. I trade all day. That’s the job.”
Them: “Nope. You said the word ‘long’ once. You’re a long-term investor now.”
Me: “‘Long’ in trading just means bullish. Nothing to do with time.”
Them: “We’ve decided it’s all about time.”
Me: “What? lol... Trading isn't typically based on time. It's based on price action. But anyway, everything I posted about the company was all true and public info.”
Them: “Doesn’t matter! We’ll still say you lied about company information!”
Me: "Where? How?"
Them: “Look! Here you wrote you bought in ‘PM’, but your order was in the morning! That's am! not pm!”
Me: “In trading, PM = pre-market, not post-meridiem. This isn't an am/pm thing. It was PreMarket, and not that it matters, but that's true.”
Them: “We don’t get it, and we don’t like it!”
Me: “...? What?”
Them: “And here you admit to a criminal act!! See, you said in a private message, "I bought after people posted.”
Me: “...? Okay, so where’s the lie about a company?”
Them: “Somewhere. We’ll find it later!”
Me: “But don't you have to at least allege I lied about company information or manipulated stock prices to charge me?”
Them: “Uhh.. We're not sure, but we will confuse people and the courts enough with case law that doesn't fit at all, and find all the lies later!”
Me: “...Find the lies later?”
Them: “Yeah, we will make them up as we go!”
Me: “Is that even legal to do to a person?”
Them: “We're the government, we do what we want, and we have full immunity! Everyone trusts everything we say, haha suckerrrrr!”
Me: “...? But, like every stock you mention did what I guessed they’d do, and didn't they even keep going up after I sold. You don't even mention prices moving.”
Them: “Irrelevant!”
Me: “Uhm? See, here you’re calling it a 'pump and dump,' but then you also admit multiple times in court that I didn’t cause prices to go up or down or cause anyone to win or lose. So, this makes no sense.”
Them: “Correct!”
Me: “Well, if I didn’t cause anything to happen, how is it fraud or a pump and dump?”
Them: “Because we don’t get it, we don't like it, and we don't know what else to call it!”
Me: “It’s literally just called influence. I post opinions about stocks and trade them based on my personal risk and plan as they move, just like everyone else. People decide if they like the information I put out or not.”
Them: “Quit trying to confuse us with things we don't understand!”
Me: “So wait, I'm trying so hard to understand what you're saying. You’re charging me for influencing people with opinions, true company news, and data, the stock prices did what I guessed they would do, and you're just saying you don't like my opinions about the stocks because I traded them in and out, and didn't post every single buy and sell?”
Them: “Yes, FRAUD!”
Me: "Wait, What? I have over 18,000 pages of trades for 2021 alone. How could I possibly post every trade? Some of these I traded 100s of times, how could I logically post every buy and sell?"
Them: "We don't know, but we want you to tell everyone what you're doing at all times, always, or we claim fraud!"
Me: "But there's no requirement, law, or rule anywhere that says I have to do that unless I meet the requirements of a 13/d/g. If there were a rule or law, I would have followed it. Please help me understand?"
Them: "Irrelevant!"
Me: "What? Okay, but the guys on CNBC and every other financial network, analyst, and trader do the same things."
Them: "But they wear a suit!"
Me: "Okay, look at my profile pic."
Them: "Irrelevant!"
Me: “....So you're saying free speech about public companies is now fraud?”
Them: “Yes! Followers = fraud!”
Me: “But I can't control who listens or who follows me. I didn’t tell anyone to follow me or to buy or sell. I posted 'trade your own plan,' 'do your own due diligence,' and even said 'I don't post when I sell.'"
Them: “We have decided that means you secretly told them to buy!”
Me: “Secretly told them to buy?? Uhh? But people started following me because I was posting good information that they valued. If I didn't provide them with value, no one would listen to or follow me. I didn't wake up one day with followers or tell anyone to follow me. So this doesn't make any sense."
Them: “Yeah, we don't get it either, but someone somewhere in some private room that you weren't in said something about robbing idiots of their money!”
Me: “What does that have to do with me? I don't know the group of people in that private room, and I didn't even know it existed. Are they even talking about me?”
Them: “We're not sure, but we don't like it! So we're gonna say it was you and all your friends to confuse people!”
Me: “But it wasn't... here is the proof that you yourself provided.”
Them: “...we're not gonna talk about that or correct it!”
Me: “Uhm...Okay, so I'm trying to understand. You have all my messages, texts, and DMs, right?”
Them: “Yes! Haha sucker! We got you!”
Me: “Okay... But wait, so do you see anywhere that I said something like that? I can't seem to find anything anywhere in any of my messages talking about committing any crime. Can you please show me?”
Them: “No! But also, irrelevant! Someone somewhere said it!”
Me: “?? Okay... So just to recap this situation: You can’t find a single false company statement, no insider info, no fake news, no market manipulation, wins or losses don't matter, no private conversations about any crime… but this is federal securities fraud?”
Them: “Right! Because you had intent! You intended to sell a stock you owned.”
Me: “Doesn't every trader intend for the stock they're in to go up so they can sell it and make money? Isn't that just trading?”
Them: “Not when you post gifs of Power Rangers and rocketship emojis!!”
Me: “...Huh?”
Them: “Yeah! That's material information about companies!”
Me: “....What? How?”
Them: “We're not sure, but we're gonna say it is!”
Me: “But didn't all of these stocks have significant volume and news? Didn't most had millions or billions of shares traded before I even posted about them. Weren't some were up like 50% before I even mentioned them?”
Them: “We haven't looked into it, but you can't tell anyone there was any news, or that you continued to trade it, or any of that hogwash! All you can say is you bought, posted, and then sold! Pumper!!!!”
Me: "...But that's not what a pum"
Them: "IRRELEVANT!"
Me: “Dang okay, but you actually said multiple times in court that you’re not trying to prove I caused prices to move up or down, or that I caused anyone to win or lose. So what are we here for? It just sounds like you're attacking freedom of speech and self-expression.”
Them: “We will decide the facts!”
Me: “So there are no caused wins or losses, no artificially inflated prices, no material lies about any company, even alleged? I think there is confusion about what a pump and dump actually is. What’s the fraud here?”
Them: “The vibes!”
Me: “...The vibes?”
Them: “Yeah, it felt wrong. We don't understand it, and we don’t like things or vibes we can’t control. So we're going to try to ruin your life and slander your name to people who can't tell the difference!”
Me: “...? Isn't that false and misleading?”
Them: "Not when we do it!!"
Me: "...."
$PFE speculative play going long this POS but heard some chatter about US Gov taking a stake similar to $INTC so will give it a try here at $24-ish. It’s still garbage to me and always will be fwiw.