{"id":3202,"date":"2021-02-16T11:24:21","date_gmt":"2021-02-16T19:24:21","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=3202"},"modified":"2021-02-24T10:40:20","modified_gmt":"2021-02-24T18:40:20","slug":"ep-187-gme-debacle","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/ep-187-gme-debacle\/","title":{"rendered":"Ep 187: The Former Market Maker Returns \u2014 and Weighs in on the $GME Debacle"},"content":{"rendered":"<div id=\"backtracks-player\" style=\"max-width: 100%;\" data-bt-embed=\"https:\/\/player.backtracks.fm\/st\/steadytrade-com\/m\/ep-187-the-former-market-maker-is-back-and-weighs-in-on-the-gme-debacle\" data-bt-theme=\"dark\" data-bt-show-description=\"false\" data-bt-show-comments=\"false\" data-bt-show-art-cover=\"true\"><\/div>\n<p><script>(function(p,l,a,y,e,r,s){if(p[y]) return;if(p[e]) return p[e]();s=l.createElement(a);l.head.appendChild((s.async=p[y]=true,s.src=r,s))}(window,document,\"script\",\"__btL\",\"__btR\",\"https:\/\/player.backtracks.fm\/embedder.js\"))<\/script><\/p>\n<p><span style=\"font-weight: 400;\">Former market maker J.J.\u2019s back to share insight on the GameStop Corp. (NASDAQ: $GME) debacle and more!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tim Bohen\u2019s away living out a long-time dream. So today, hosts Kim Ann Curtin and Stephen Johnson grill J.J. with listeners\u2019 questions&#8230;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But first, they\u2019re picking this former market maker\u2019s brain about the insane action we saw in the $GME debacle. Remember that epic short squeeze and the broker trading restrictions that followed?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You definitely don\u2019t want to miss what he thinks is really going on&#8230;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And if you missed J.J\u2019s first appearance on the podcast, go back and listen to <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-179-former-market-maker\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">episode 179 <\/span><\/a><span style=\"font-weight: 400;\">to hear him share secrets of <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-180-market-manipulation-revelations\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">market manipulation<\/span><\/a><span style=\"font-weight: 400;\"> that blew our hosts\u2019 minds. It\u2019s one of our most-viewed episodes of all time.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The $GME Debacle<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Today, J.J. breaks down the $GME short squeeze and what he didn\u2019t like about the price action when it was up.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Were the WallStreetBets traders right about their $1,000 price target? J.J. agrees the stock should have gone that high \u2026 if there wasn\u2019t something else going on.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So how does he know what he\u2019s talking about? Well, as J.J. tells Kim and Stephen, he used to get paid $200K a month to pull off the same thing the WallStreetBets traders were trying to do. He used to be a mechanic of these kinds of plays.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">His spidey sense is tingling, telling him there\u2019s something fishy going on here&#8230;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And people aren\u2019t talking about it because it sounds like a tinfoil-hat conspiracy theory.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Will Hedge Funds Want Revenge?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Stephen asks if the hedge funds might strike back against retail traders after the $GME squeeze took them out.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">J.J. doesn\u2019t think so&#8230;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He explains that when Wall Street hedge funds blow up, it\u2019s not the same as retail traders. They just take time off and maybe travel. Then when they come back, a prime broker will likely lend them more money.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hedge funds aren\u2019t trading their own money \u2014 it\u2019s other people\u2019s money. It\u2019s a job for them.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tune in to hear what J.J. says is the biggest difference between institutional and retail trading&#8230;\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">The $GME Debacle and Brokerage Shutdowns<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">What about brokerages shutting down trading in certain stocks after the $GME debacle?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">J.J. says it\u2019s \u201ccriminal.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And what does he think is the real reason for the shutdowns? He has his opinions&#8230;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ultimately, he thinks the brokerages should be honest with their clients. J.J. reflects on the current market and compares it to the Roaring \u201820s \u2014 it makes him nervous.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kim wants to get to the bottom of the payment for order flow business model that brokerages work under. Tune in to hear J.J. describe how it all works.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s a lot to take in&#8230;<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Listeners\u2019 Questions About the $GME Debacle<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Kim digs into the listener mailbag to ask J.J. your questions\u2026<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What\u2019s his advice for new traders caught in the $GME debacle? He says trading is a skill you develop over time. To him, traders are better off in the long run to take time and learn what\u2019s going on behind the chart.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Does he think other hedge funds were jumping into $GME with the retail traders?!\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tune in to find out what he thinks, when market makers dump shares, and what\u2019s most important when deciding on an entry.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And he has closing advice for listeners to avoid <\/span><a href=\"https:\/\/www.steadytrade.com\/paralysis-by-analysis\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">paralysis by analysis<\/span><\/a><span style=\"font-weight: 400;\"> and much more.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Do You Think?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">What do you think is the real story behind the $GME debacle? Let us know your thoughts in the comments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Remember: if we select your question or comment as an on-air topic, you could win a SteadyTrade mystery gift box. Leave a comment below or on <\/span><a href=\"https:\/\/www.youtube.com\/user\/stockstotrade\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">YouTube<\/span><\/a><span style=\"font-weight: 400;\">!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thanks for tuning in to the SteadyTrade podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.<\/span><\/p>\n<p><b>Into this episode? Please leave a review on <\/b><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/steady-trade-the-profitable-side-of-trading\/id1275946076?mt=2\" target=\"_blank\" rel=\"noopener noreferrer\"><b>iTunes<\/b><\/a><b>.<\/b><\/p>\n<h3><span style=\"font-weight: 400;\">Meet Our Hosts<\/span><\/h3>\n<p><strong><a href=\"https:\/\/www.steadytrade.com\/about\/\" target=\"_blank\" rel=\"noopener noreferrer\">Get to know Tim Bohen, Stephen Johnson, and Kim Ann Curtin here.<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Follow our hosts on social media&#8230;<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Tim Bohen<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Twitter: <\/span><a href=\"https:\/\/twitter.com\/tbohen\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">@tbohen<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Instagram: <\/span><a href=\"https:\/\/www.instagram.com\/tbohen\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">@tbohen<\/span><\/a><\/p>\n<h4><span style=\"font-weight: 400;\">Stephen Johnson<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Twitter: <\/span><a href=\"https:\/\/twitter.com\/Jonk87\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">@Jonk87<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Instagram: <\/span><a href=\"https:\/\/www.instagram.com\/stephenjonk87\/?hl=en\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">@stephenjonk87<\/span><\/a><\/p>\n<h4><span style=\"font-weight: 400;\">Kim Ann Curtin<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Twitter: <\/span><a href=\"https:\/\/twitter.com\/kimanncurtin\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">@kimanncurtin<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Instagram: <\/span><a href=\"https:\/\/www.instagram.com\/kimanncurtin\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">@kimanncurtin<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former market maker J.J.\u2019s back to share insight on the GameStop Corp. (NASDAQ: $GME) debacle and more!\u00a0 Tim Bohen\u2019s away living out a long-time dream. So today, hosts Kim Ann Curtin and Stephen Johnson grill J.J. with listeners\u2019 questions&#8230; But first, they\u2019re picking this former market maker\u2019s brain about the insane action we saw in [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":3204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[3],"tags":[30,19,18],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ep 187: The Former Market Maker Returns \u2014 and Weighs in on the $GME Debacle - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"Former market maker J.J.\u2019s back to share insight on the GameStop Corp. $GME debacle and more!\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.steadytrade.com\/ep-187-gme-debacle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ep 187: The Former Market Maker Returns \u2014 and Weighs in on the $GME Debacle - 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