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Loading ...Did China’s Tencent Accidentally Leak The True Terrifying Coronavirus Statistics
But the biggest hit to the narrative and China’s officially reported epidemic numbers came overnight, when a slip up in China’s TenCent may have revealed the true extent of the coronavirus epidemic on the mainland. And it is nothing short than terrifying.
As the Taiwan Times reports in a report first spotted by user @TheHKGroup, over the weekend, Tencent “seems to have inadvertently released what is potentially the actual number of infections and deaths, which were astronomically higher than official figures”, and were far closer to the catastrophic epidemic projections made by Jonathan Read.
According to the report, late on Saturday evening, Tencent, on its webpage titled “Epidemic Situation Tracker”, showed confirmed cases of novel coronavirus (2019nCoV) in China as standing at 154,023, 10 times the official figure at the time. It listed the number of suspected cases as 79,808, four times the official figure.
And while the number of cured cases was only 269, well below the official number that day of 300, most ominously, the death toll listed was 24,589, vastly higher than the 300 officially listed that day.
ORIGINAL CHORUS:
Hail! Hail! the gang’s all here,
What the deuce do we care,
What the deuce do we care,
Hail! Hail! we’re full of cheer,
What the deuce do we care Bill!
marketwatch.com/investing/index/gdow
+71.27=+2.27%
Marking a top?
What about a top for the SM??
edit: maybe not, only down around $50 now…
Turkey’s Erdogan demands Syrian forces in Idlib withdraw
https://www.cnbc.com/2020/02/05/adp-moodys-private-payrolls-january-2019.html…
Millennials who have been day-trading the stock to pay for student loans…
Oh Dear such solid foundations !!!!!!
Before I tell you my theory, let me dispel the most common one. Many people are claiming this is the biggest short squeeze in history. Although short interest was at one point extremely high for this stock, over the past year, it has steadily declined.
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You might run across all sorts of scary charts highlighting a massively growing notional amount of Tesla shares sold short. Ignore that. It means little with the stock exploding in value. What matters is shares sold short. And that number has been steadily declining. When you combine the fact that there are a few convertible bond issues that are now deeply in the money (and therefore likely have fully hedged short positions against them), the amount of short sellers betting on this company falling has been dramatically decreasing. No doubt there are still some left. But they are not driving the run higher. If they were, the borrow rates would be increasing, and instead they are falling. Nope, the shorts are not the culprit.
Next most cited reason for the rise in Tesla’s stock price is short gamma from the market makers. Now I buy this theory – to some extent. Tesla has definitely become a retail (and institutional) trading darling. On the whole, clients are buying options from market makers, creating a negative feedback loop both ways. As the stock rises, the market makers find themselves short more stock, so they need to buy more. As it falls, they need to short it again. The massive negative gamma dealer position is definitely exacerbating stock price movement (and it will happen both ways – make no mistake about it).
The most hilarious part of this phenomenon? As my pal, Bloomberg reporter Luke Kawa recently noted, in the reddit forums investors have clued into this reality and are trying to orchestrate bull raids on other stocks (which is highly illegal, but then again the SEC didn’t seem to shut down Elon for all his infractions, so I guess manipulation on the upside isn’t manipulation but instead just good trading).
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and what looks like a third day massacre of shorts in the SM
Do pm’s have a chance to at least stabilize today?
Enquiring minds want to know.