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, and I'm using money I can absolutely lose. My capital at risk and tolerance for risk generally is likely substantially different than yours.
Before I get into Monday's action, a couple of things:
I wanted to first give a shout out to piddlesthethug for capturing this screenshot, which shows that moment in time I referenced in my third Gamestop post, where some poor soul got sniped while sweeping the 29 January 115 calls. I added it into the post with an edit, but my guess is most who read the post a while back would have missed it. I guess my mental math in the moment was off as you can see from the image that the cost was actually just shy of $500k rather than $440k as I wrote in the post. Brutal.
People have also asked me where I stand on this trade. I was lucky to get in early, trade some momentum, and retain a sizeable core holding (relative to my play account). As I've mentioned some comments, my core holding, which I will hold until this saga plays itself out, would buy me a new car, all cash. Though after today I'd have to downgrade from a lower end Lexus to a Corolla lol.
Alright, so, today's action.
I have to admit that I was just glancing at the chart between writing emails, working on excel spreadsheets, conference calls, and meetings. Whenever I could, I was listening to CNBC in the background, and taking a closer look whenever I heard anything that might move sentiment, or theoretically telegraph an attack as had happened so many times last week.
In my opinion the price action played out almost by-the-numbers according to a squeeze campaign strategy as I laid out in my previous post. I want to be clear, however, that while it was consistent with what I laid out (liquidity drying up, trying to skirmish at lower and lower price points), you could reasonably interpret it other ways. As I mentioned in at least one comment, seeing things play out in a manner consistent with your expectations is by no means positive confirmation that your thesis is correct. It just happens to be consistent with the evidence you have so far. Always keep that in mind.
I tried responding to a few comments and questions in realtime as I got notifications on my phone. Just as a heads up, I won't always be able to do so, and it seems like there were a number of knowledgeable people commenting in realtime anyway. As I've said in comments on my previous posts, I am definitely not the smartest person in the room, so don't just take my word for it just because I'm the original poster. Please challenge anything I say if you feel I'm mistaken, and don't dismiss out of hand people who may have a different viewpoint.
One thing I thought I noticed in early morning market hours action was that there was no sell order depth above the ticker price, which I interpret as a good sign. Downward pushes into fairly good volume got sucked back up largely in a low-volume vacuum. The most extreme example of this was the first push right at market open. Tons of volume to push the price down, then a tiny fraction of volume as price got sucked back up. This means very little continued panicking and bailing due to the aggressive push, resulting in gaps to the upside on the follow-on buying. There were messages and comments from people concerned that low price would let the short side cover, but, as I explained, low price doesn't help the short side unless they can buy at that low price in meaningful volume. That sort of action where price gaps up as soon as buying (whether by shorts or longs) is driving price tells you that there isn't much meaningful volume to be had at the lower prices. From a higher level view, volume through the day dropped as price dropped, and that seems to have remained consistently true throughout the day.
There was some very strange after-market volume. No idea what that may have been, other than maybe hedge unwinding as T+2 contract settlement outcomes were determined. It seemed, at least to me, to be too much volume in too dense a time window to be retailers bailing out of their accounts en mass. It would make no sense to do so into the vacuum of after hours anyway rather than the firmer price support of market hours.
I got messages that I was both a short side hedge fund shill and a long side pump and dump fraudster trying to somehow take peoples' money. My sentiment analysis KPIs thus indicate I'm likely striking a healthy balance (lol).

The Game (Theory)

Ok, but seriously, is this situation a pump and dump?
Possibly.
I say possibly because, as I stated in a comment, a failed squeeze campaign is effectively identical to a pump and dump in that the only thing that happens is capital is transferred mostly from people who got in later to people who got in earlier. Even worse, in aggregate a good amount of capital may end up being transferred from the campaigners to the short side. Not that it was necessarily intended to be that way from the start--it's just what ends up happening if the campaign fails.
Ok, so failure aside, what are the dynamics of the trade? What kind of game is this?
In simplified terms, I'd describe a squeeze campaign where the short side doubles down as a modified dollar auction where the winning side also takes the losing side's bid money. In other words, at an aggregate level, it's winner take all, go hard or go home, with all the excitement of market action in the middle. Note that I said in aggregate and with market action in the middle, as that basically means even the winning side will have individuals who lose possibly everything if they get washed out before the end. As I mentioned in some comments where I urged people to consider taking profits if they needed the money, this is going to be a white-knuckle trade to the very end.

Power

For most of our lives, most of the time, the saying that 'information is power' and the closely related 'knowledge is power' are abstract, philosophical truisms that people say to try to sound cool and edgy. More tangible and relevant to our daily lives might be 'money is power', or, for the least fortunate, the threat and reality of physical force.
Today, for many in the GME trade, that previously abstract philosophical truism gained intense and urgent relevance. What is current SI? Can you trust numbers from S3? What about Ortex? Are there counterfeit shares in play? What is the significance of Failures to Deliver? Can the short side cover their position off the exchange? etc. etc.
Being in this situation, if nothing else, has lifted the veil for many people. The right information, in the right circumstances, is incredibly powerful. It outlines in stark contrast the power dynamics of information asymmetry.
If you want to exercise more agency in your future as a trader and investor, you have to make a habit of cultivating your critical thinking skills and ensuring you have diverse and often divergent sources of information. Do not let yourself be trapped in an information bubble where you can be easily manipulated. Most of all, try to avoid developing a siege mentality at all costs. If nothing else, in my opinion, it's critical for your long-term financial success.
I don't know the answer to those questions definitively, and my purpose in creating this account and posting is absolutely not to get people to listen and necessarily believe everything I write. In fact, it would make me happier if I see people use some of the tools, techniques, and concepts I've tried to introduce to challenge some of my thinking. Catching my mistakes helps me. Doing it in the open for all to read helps everyone.

Faith, Conviction, Calculated Risk

Many people trade and invest according to wildly divergent strategies.
Some people, including those that most Wall Street types consider to be 'responsible' investors, invest on blind faith. You put your capital is someone else's hands (hopefully a qualified fiduciary), and trust that they will do a good job. The only judgment you exercise really is in choosing the person(s) in which to place your faith. This is not entirely unlike what many WSBettors are doing with respect to DFV. I do this with my retirement accounts, though lately I've been considering transferring about half my retirement capital to a self-directed IRA.
Others trade on conviction. They have, for whatever reason, a very strong belief in an investment thesis that they are willing to put to the test by putting capital at risk, and are willing to lean into the thesis through unfavorable price action so long as no disconfirming evidence comes to light. I consider value investors to fall into this category.
Others are momentum traders and 'technical analysts', who are trying to read the market data to look for asymmetrical calculated risk opportunity. These opportunities need not necessarily be tied to any particular underlying fundamental investment thesis. All that matters is whether you win on a sufficiently frequent basis and carefully manage your downside risk.
I think it's healthy to try to gain an understanding of all three approaches. I personally also find it necessary to be careful if you find yourself switching between those approaches mid-trade. I.e., if you started in the GME trade on faith, it may be deeply disturbing if you find yourself in the no-man's land between faith and conviction, where you have learned enough to understand more of the risks in the trade, but not enough to understand the underlying investment thesis of how it could play out. I'm not saying you shouldn't try to make that transition--just try to maintain self awareness if you choose to do so to avoid making any rash decisions.

Swimming In The Deep

So, the consistent #1 question I always get: what happens next? My consistent answer, which I know frustrates everyone, is I don't know, and no one else does either.
One person in the comments made an astute observation that perhaps the truth, which some may find disturbing, is that our fate really lies in the hands of the whales on the long side rather than retail being in the driver's seat. This may very well be true. I would give it better than even odds at this point. In fact, even if retail collectively represents more shares in this trade, retail is not a well-organized, monolithic entity, and therefore would have more difficulty playing a decisive role at critical times.
Another question I got, which was a very good one to be asking, is what evidence do we have that there really are whales on the long side? For me, there have been critical actions over the past few days that I would have found to be highly unlikely to be achievable by retail investors, such as the sustained HFT duel into the close on Friday. That was very consistent, relatively well controlled, and sustained push on volume of 6-7mio shares traded in the $250 - $330/share price range. Oversimplified math would peg that at just shy of $2bn in capital flow. That is not retail--particularly with so many retail brokerages restricting trading at that time. The 17mio shares sold into the aftermarket action consistent with a squeeze (and Ortex reported reduction in short interest) is also definitely not retail. Others have pointed out massive action in the options today. Tons of block purchases in the millions of dollars and high 6 figures. Not retail.
All of that being said, does that really change very much? Even if you consider yourself to be part of a movement, and have genuine feelings of solidarity with your retail fellows (I do, which is why I'm writing these posts and holding that core position), in the end you are trading as an individual. This is a point that I have made repeatedly. In the end, you need to know yourself, know your trade, and have a plan. Your plan may conceivably be to follow someone else (I know many are following DFV to whatever the end may be), but in the end even that is still your plan as an individual.
If my thesis is correct we will continue to see lower trade volumes, and price grinding down to a floor of harder support, possibly even at the retail line of support (~$148/$150) I outlined in a prior post. There may also be some price dislocation tomorrow depending on options contract T+2 settlement impact. I don't know enough about what to expect there. If the squeeze is to happen, unless RH lifting restrictions or people transferring their accounts causes a surge of retail momentum, it will happen after that type of price movement continues for a while (maybe days, maybe longer), until sufficient liquid float has been locked up.
Right now options action is heavily weighted to puts, so any market maker hedging activity will put more pressure on price.
If the squeeze fails to happen there won't be a siren, ringing of a bell, or anything like that. It might happen gradually and non-obviously until suddenly, as only the market seems to be able to do, it becomes obvious that whoever's still there has been left holding the bag. Hopefully this isn't the case, but if it is I'll be right there with what at that point may only buy me a razor scooter rather than a car lol.
If it succeeds, it should be fairly obvious. Just don't forget to ring the register!
Either way, this is market history in the making. As I said in a previous comment, when you ride the rocket, it's definitely not going to be smooth--but it might just be awesome.
Apologies for the lengthy post again. Good luck in the market!

Cut my salary in half? Kiss your business goodbye.

The cast: (Names changed for anonymity)
Me - your storyteller of the moment.
Chad - Hiring CTO.
Richard - CEO, brother of Chad.
Big Bro - Engineer coworker
Eddie - IT and Desktop support guy.
This takes place near the very beginning of my software engineering career, back in '05 or '06. I'd just been let go from my previous place of employment due to be being compliant with directives I'd been given (although not maliciously, so that story wouldn't be appropriate here, sadly), and thus working myself out of a job. I was a young college dropout from a technical college that hadn't been federally accredited yet, and thus all my student loans were from banks and loan companies instead of from Uncle Sam, and debts were due. I was also making payments on my very first car, even though it was a beater that the prior owners had already nearly driven into the ground (4 years old and nearly 200k miles on it when I bought it), and of course, rent and utitlities. The job I'd just been let go from already had me working paycheck to paycheck as they paid far under average rate, but I was still new professional so I couldn't be very choosy. I was living in Los Angeles county, so the cost of living was so bad, I was having to choose which bills were going to be late on a monthly basis. Specifically, I was living in a town called San Pedro, a small town tucked fairly out of the way.
After blasting my resume to all the job boards, I get a call from a startup who seems interested in my resume and wants me to come in for a face-to-face interview (skipping the call-screen entirely). In my desperation, I agree. I'm given an address, which is all the way up in Woodland Hills. I check the internet... 55 minute drive so long as there's no traffic. With traffic it looks like the commute will be more like an hour and forty-five minutes... each way. I'm desperate though, and literally nobody else has reached out to me about my resume or responded to my applications, so I go to the interview. I arrive to an mostly empty office complex. Maybe 6 or 7 other cars in a parking lot capable of holding at least 50. I go into the building mentioned in the address, and call the phone number I was given to let them know I've arrived. Enter Chad. Chad comes to meet me, and seems excited that I've come! He escorts me through the building to an office. Mind you, as far as I can see, we're the only two humans in the building. He gives me the pitch for the company, tells me he built the software being sold, but it's not scalable, and needs someone who can rewrite it. After we go through the whole interview song and dance, he offers me the job on the spot. The pay is marginally higher than the last gig, so I figure gas would be covered for the commute. I agree, and we shake hands, as I'm going to be starting the next Monday.
Red flags start appearing from the very first minute I arrive on monday. First, I'm given a tour, which consists of the 14x14 foot office I'm going to be sharing with Chad, as well as another engineer who's going to be starting the following monday. I'm not a fan of having someone able to look over my shoulder, it makes me nervous. I ask why each engineer's desk has two computers. "Because the one you will be writing code on doesn't have internet access, for security purposes." (Note: this was pure paranoia. There was nothing about this software that required such tight security, we weren't doing any gov't contracts or anything of the sort.) Then, I'm escorted clear across the building, to meet with the CEO (Richard), the IT guy (Eddie), and the sales/support team. I'm told that half of the team is supporting the existing version of the application, 2 people are selling the existing version to new clients (or trying to), and one person is explicitly tasked with selling the new version. The one I haven't even started on yet. I'm still young and dumb at this point, but even I know this means the salesperson is probably giving out a date when the customer should expect their purchase to be filled. "It's a good thing you started when we did, we've been telling customers it'll be ready in June." Did I mention all this was happening in February? Apparently I've agreed to rewrite, test, and package an entire application I've never seen before in approximately four months. So, tour being done, I sit down and get to work. After jumping through a bunch of hoops of getting the software I prefer downloaded onto the actual work machine, as well as the code, I set about reviewing code so horrific I've not seen its like since, and there isn't a single comment in the entire thing. Before I can ask a single question of the CTO however, he tells me he's headed to downtown LA to scalp his tickets to the Lakers game, and that he'll see me tomorrow. So... now I'm alone in the office with this abomination, a machine that's been hamstrung to heck and back, and the only thing I've got to console me is the fact that at least I'm employed again.
Fast-forward a week, I've documented the bulk of the code (because there wasn't any), and the boss and I do not get along. He's mad because I've not written any substantial code, and I'm frustrated because I'm trying to understand a lot of what specific code is trying to do and he's routinely leaving around noon to go sell his tickets for Laker's games, or just not in the office because he's chatting with someone else. When he is in the office, I show him my documentation, and try to get him to verify it or describe the purpose of code where all I can say is "Wat?" By the end of the week, I've covered about 30% of the project in a wiki-like document, and I've taken to leaving after sunset so I can a) get more done, b) have a shorter commute, and c) drive when my car isn't an oven (the ac didn't work). I've barely managed to convince the CTO that what I'm doing is necessary so the engineer starting the next monday doesn't have to do anywhere near the same crap I've got, which would make us a more efficient team.
Monday arrives, and in comes Big Bro. I call him this because he was a much more experienced engineer than I was. We spend the first day with him getting set up, then us reviewing what I've documented. He manages to answer some questions the CTO never did, just because he is that much better, and I start to feel more confident. Over the next weeks, Big Bro took me under his wing as an engineer teaching me best practices, standards, and where my plans were good and where they could be better. If it hadn't been for him, I'd have gone insane! I end up joining him outside for smoke breaks even though I don't smoke, just so I can get a breath of non-office air. He and I discuss the project, and we also make friends with Eddie, who makes us laugh by telling us horror stories about the CTO and CEO (apparently he was a school *friend* of theirs and basically worked with them because they paid him to do something he felt was super easy).
April rolls around. I've got a special occasion I need the day off for, which happens to be a Wednesday that year. I'd advised him when I first started and he'd been cool with it. I remind him on April 2nd (since I had an irrational fear of policy decisions being made on April Fool's Day), and he loses it. He goes off on a rant, and straight up informs me that he regrets hiring me, claiming I didn't have the skills I told him I did, and wasn't worth what I was being paid. We're definitely not half-way done (more like one third), and it's already been decided that June is a lost cause and that we're shooting for August now. That habit I started before, of leaving after the sun went down? Yeah, that never stopped. I was arriving at 9am every day, and leaving around 10pm every night, trying my best. Big bro was the same, and Eddie would stay late with us just because we liked hanging out together. So, it should be understandable that I was very close to losing it right back at him. In a strained, yet diplomatic voice, I told him that if he put in the same amount of work to help us as we put in to rewrite *his* code, we'd probably be a lot closer to done than we were, especially given the twelve hour days. He was not a fan of that, and switched to straight up yelling, blaming us for the lost sales and refunds due to the delays, and that the only way he'd get off our backs was by getting the project done. This entire time Big Bro is just sitting there, and says nothing to back me up. Chad then left the office for a bit, and I just declared I was taking my lunch and would be back in an hour. I felt frustrated by Chad and betrayed by Big Bro, who I felt (rightly or not) should have had my back since we were in the same boat.
When we were both back in the office, he apologized for yelling and told me that since he agreed when I was hired I could have my day off. Cool. I apologized too, although not for anything specific. I just didn't want to talk to him anymore and figured that was the fastest way to end the conversation.
Fast forward to June, and the opportunity for Malicious Compliance. Over the last two months, Chad has been getting worse and worse. He's yelling nearly every day (and still leaving early too). Big Bro and Eddie are also feeling the pain, nobody is safe from his ego. The smoke breaks and afternoon/evening portion of our day are when we're most productive, as nobody can focus until Chad leaves. The first monday in June rolls around and Chad invites me to go on a walk outside for a 1-on-1 meeting. I figured I'm being fired (at this point we've had to refactor the rewrite almost entirely due to missing a critical chunk of functionality, and we're still only 60% done. August release is looking less and less sure). Chad informs me that he's hired a 3rd engineer, but in order to stay in the budget to pay him, he's cutting my salary in half. I stop on the spot and just give him a blank look.
"Are you serious?" I ask. "I'm barely able to pay for my bills and the gas required to commute here as it is. If you cut my salary at all, I won't be able to afford to live." At this point the idea of cutting my productivity to help ramp up a new engineer so he can help us meet the deadline doesn't even occur to me, although in hindsight that would have also been a pretty major issue.
Chad brushes me off. "That's not my problem. The fact that you missed one deadline and look like you're gonna miss another is. If you've got a problem with that, you're more than welcome to go find another job. The new guy starts in two weeks." And with that he walks inside. I'd just been told that I had two weeks left of job at my current salary. Cool. So that day I do something I hadn't done since I first started. I left while the sun was still up. (Specifically, I left at 5pm). I drive my oven-car (no working Air Conditioning in a car that had been left in the sun all day in Woodland Hills had me feeling like a baked potato) through traffic (hour and a half-commute home through LA heat), and updated my resume before reactivating my accounts on all the job sites. I'm contacted the next day by a potential new employer, and I get an interview scheduled. I decide to tell Big Bro about the new opportunity, and he hits me with news that lets me know just how small a world we live in.
Me: "Hey, Big Bro, just fyi I've started looking for a new job. I've already got an interview lined up."
Big Bro: "Really? Where?"
Me: "Over at "
Big Bro: "Wow! That's where I worked before I came here! That place is pretty awesome, and I left there on pretty good terms. I know the CTO there, go ahead and use me as a reference!"
Me, skeptical: "Really? Okay...."
Turns out Big Bro was true to his word, and the CTO and I even talked about Big Bro during the interview. Apparently they'd already talked about me, and Big Bro had been the ultimate hype man, confirming everything I said about why I was looking for a new job and everything. All goes well, and I'm electronically signing an offer-letter that Friday afternoon (Chad had already left for the day, so there was nobody to look over my shoulder as I used the work computer that *had* internet access to get this done). At the new Job, the commute is cut by more than half, and comes with a pretty significant raise. I tell Big Bro and Eddie on the last smoke break (I still don't smoke) that I'm done, and I've found something new. Oddly enough, they both smile and just wish me luck. "No hard feelings, hope we stay in touch!" Odd, but I'd stopped really caring about anything related to that job, so I paid it no mind. I went back inside, packed up my stuff into my backpack, and walked to the CEO's office.
Me: "Hey Richard, got a minute?"
Richard: "Hey OP, what's up?"
Me: "Just wanted to let you know I found a new job, so I'm moving on."
Richard: "Really, why? We need you!"
Me: "You guys decided it was cool to cut my salary to a point where I couldn't afford to live. Chad said if I didn't like it, I should look for something new, so I did."
Richard, looking defeated: "Well, when's your last day?"
Me: "Today."
Richard, now pissed: "We need you here to train the new guy who starts soon!"
Me: "Hey, I had to train myself and to an extent, Big Bro when he first started. The new guy should be able to as well."
And with that, I left for greener pastures.
The unexpectedly *huge* fallout:
Four months later, Big Bro texts me to ask me how things are going. I tell him things are great, and we schedule a lunchtime call because apparently things have gone sideways in a huge way.
Part 1) Apparently Chad came in on Monday almost violently angry, and demands Eddie re-image my work machine first thing in the morning, which erases everything I'd left on there.Big Bro comes in an hour later, and he and Chad discuss the new timeline for the project. Somewhere in there apparently Big Bro asks Chad to log into the admin account on my old work machine so he can pull the documents I'd accumulated about the planned architecture, the existing code, meeting notes, etc. Chad answers by apparently punching a hole in the wall, and leaving for the day (probably to go to the hospital to deal with his hand), at 10:30 in the morning. Big Bro then spends the rest of that week ostensibly working on recreating the documentation from scratch.
Part 2) When I asked how the new guy handled the new documentation, Big Bro laughed and told me there never was any documentation. Apparently he and Eddie had become really good friends in the months we worked there, to the point where they'd become roommates about a month before I left. More than that though, they'd decided to start a freelance/consulting business together and only had to decide on when to make that their full time jobs. Neither of them liked Chad much, and wanted to make their departure hurt as much as possible. So, they decide to make Big Bro's last day the day before the new guy starts, and Eddie would quit shortly afterward, sticking around just long enough to watch the bomb go off. Did I mention Big Bro never told Chad he was quitting? Yeah. He just didn't show up that Monday. He had, however, emailed that 'documentation' he'd spent a week writing to Chad. Turns out he wasn't documenting the code at all. He'd spent a week writing a letter explaining in excruciating detail why Chad was such a bad boss, and he'd emailed it to everyone in the company. I asked if he still had it so I could read it, and he sent it to me after the call.
Thankfully, like the big helper he was, Eddie had ensured that the new guy's email was set up and in the proper groups before the email was sent, so the guys first email in the company was a novella about the kind of person he' agreed to work for. Apparently Chad thought it was appropriate to take his frustration out on the new guy, who'd already read a significant portion of the email before Chad shoved him away from his desk and deleted it. Apparently new guy promptly decided (and rightfully so) that agreeing to work for Chad had been a mistake, packed up his things, and quit on the spot.
Part 3) With the new guy quitting, the August deadline was now little more than a dream within a dream, which according to Eddie doesn't stop Chad and Richard from trying to find that miracle rock star engineer who can save them from their own situation (which, given what they were offering as pay, didn't exist). So time advances in its unstoppable way, August arrives, and customers find that they've paid for something that hasn't been delivered yet, and pretty much unanimously demand refunds, with a few customers bringing legal action against them. With the amount they have to refund, and the money they now need for legal fees (because of they way they'd incorporated, they were personally liable), they could no longer afford to pay anyone, and were forced to shutter the business.
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Final Note: For my fellow software engineers out there who were wondering just how bad this application was, this "program" was a single php file with over 40k lines of code, running inside a `while` loop. Any and all logic consisted of if/else trees, which then led to either more if/else trees or more loops. No function calls, no external libraries included, just.... spaghetti of the worst kind. Given the nature of the application, most critical logic had to be implemented in no less than seven places, depending on where the execution was when the logic was needed. At worst the tab-depth was something like nineteen or twenty tabs deep.
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Post upvote-splosion edit:
I wanted to write out my thanks, and to answer some of your questions, but it turned into another long wall of text. So, instead I put it in a comment, which I'll link to here:
https://www.reddit.com/MaliciousCompliance/comments/lb8evx/cut_my_salary_in_half_kiss_your_business_goodbye/glvy3kg/

Evidence pointing to shorts did not cover pretended they did (via options) to break the squeeze (Feedback requested)

I know you guys are probably sick of hearing GME related stuff but I really wanted to post this here to get some additional thoughts/feedback from experienced investors.
Long post ahead, but I encourage you to read the whole thing.
TLDR: Data points strongly point to Hedge Funds using tricks to appear as if they covered their shorts when they haven't truly covered. Full version below.
There’s an insightful piece on https://tradesmithdaily.com/investing-strategies/the-drop-in-gamestop-short-interest-could-be-real-or-deceptive-market-manipulation/ that identifies there are two ways for both short interest and price to fall quickly.
First way is retail investors not holding the line and panic selling thereby driving the price down further, releasing into the market more of the float and enabling shorts to covebuy back shares at progressively lower levels.
**
Quoting from Tradesmithdaily:
Plummeting short interest along with a plummeting GME share price, in other words, could indicate that the Reddit army is headed for the hills, and the longs were selling early, giving the shorts a means to cover, as the longs got out… Important to note that if the long holders of GME shares did not break ranks and sell en masse, it would have been impossible for the share price to fall and hedge fund short interest to fall at the same time. because, without a critical mass of long-side holders selling into the market, the hedge funds covering their shorts would have nobody to buy from as they covered (bought back) their short positions.
**
However the other scenario where this can occur is the hedge fund short interest in GME didn’t really dissipate but instead they played a trick to make it seem like it did, demoralizing the retail side and further “breaking the squeeze.”
**
To now quote verbatim from Tradesmithdaily:
The way the hedge funds could have done this — made it appear as if they covered their shorts, even when they really didn’t — involves trickery in the options market.
The tactics involved are not a secret. In fact, the Securities and Exchange Commission (SEC) knows all about such tactics, and published a “risk alert” memo on the topic in August 2013.
The SEC memo is titled “Strengthening Practices for Preventing and Detecting Illegal Options Trading Used to Reset Reg SHO Close-out Obligations.” You can read it here via the SEC website.
The memo contains a dozen pages of highly technical language, but here’s a quick rundown:

If short sellers are facing a squeeze because shares are hard to buy, or scrutiny for holding an illegal short position, they can create an appearance of having closed their short position through the use of deceptive options trades.
A hedge fund that is short a stock can write call options on a stock — meaning they are now “short” the call options, having sold the call options to someone else (typically a market maker) — and simultaneously buy shares against the call options.
The shares bought against the call options could be “synthetic” longs — meaning they are not part of the original share float of the stock — as sold to the hedge fund by the market maker that takes the other side of the options trade.
This works because, if a market maker buys options from an options writer, the market maker has legal privileges to do a version of “naked shorting” as part of their hedging function. This is necessary, under the current rules and the current system, for market makers to protect themselves when facilitating options trades.
As a result of the above transaction, the hedge fund that sold short calls was able to buy synthetic long shares against the calls. (A synthetic share is one that has a long on one side and a short on the other but wasn’t part of the original float.) The synthetic long shares are the other side of the naked shorts, legally initiated by the market maker, so the market maker can hedge.
The hedge fund that bought the shares can now report that they have “bought back” their short position via buying long shares — except they actually haven’t! The synthetic shares they bought are canceled out against the short call positions they initiated, a necessity of the maneuver by way of the market maker’s hedging of the call position they bought from the hedge fund.

It gets very complicated, very fast.
But the gist is that hedge funds can use tricks to make it look like they’ve covered their shorts — even if they haven’t truly covered, and can’t, for lack of available float — by way of exploiting loopholes that exist due to an interplay of reporting rule delays, market maker naked shorting exceptions, and legal practices of synthetic share creation (new longs and shorts made from thin air) relating to market-making.
Below is a section of the SEC memo (from page 8) that gets to the heart of it:
“Trader A may enter a buy-write transaction, consisting of selling deep-in-the-money calls and buying shares of stock against the call sale. By doing so, Trader A appears to have purchased shares to meet the broker-dealer’s close-out obligation for the fail to deliver that resulted from the reverse conversion. In practice, however, the circumstances suggest that Trader A has no intention of delivering shares, and is instead re-establishing or extending a fail position.”
**
In short (no pun intended) these tricks “help hedge funds maintain short positions that, legally speaking, they weren’t supposed to have because the shares were never properly located”, which triggers alarm bells when we consider the extraordinarily high amount of FTIDs/Failed to Deliver Shares (https://wherearetheshares.com/) and Michael Burry’s (now deleted tweet viewable here https://web.archive.org/web/20210130030954/https://twitter.com/michaeljburry?lang=en) about how when he called back shares he lent out, brokers took weeks to actually find them with the implication they could not be located.
These factors lend credence to the idea that shorts weren’t really covered but were given the impression of being covered with trickery using options, in order to “cover” short positions that they shouldn’t have had to begin with because shares were never properly located.
Separately but potentially related, S3 released updated short numbers last Sunday reducing from their projection of short interest from 122% to 113% (a day later on Friday) to 55% on Sunday (while markets were closed therefore in my estimation using the same data set that calculated 113%), which many found to be suspicious. Later it was found that this new number was calculated using the same data set that yielded 122% short interest percentage, but with the significant difference of adding synthetic long shares into the short float equation which is against standard practice.
For a more detailed breakdown a user here pasted a good analysis of how those numbers were reached https://www.reddit.com/wallstreetbets/comments/laoaru/read_this_they_are_screwed_numbers_dont_lie/
**
Excerpt:
The real short % according to S3's data is 122%. However, their 55% figure is technically not a lie, but extremely misleading. I will explain everything.
Here is what they did:Sources (S3 head):https://twitter.com/ihors3/status/1355990194575564801?s=19 https://twitter.com/ihors3/status/1356004816414269448 https://twitter.com/ihors3/status/1355969693841051650
S3 head is redefining share float to include shares that don't exist in order to be able to say shorted % of float is lower.
it reduces the traditional SI % Float, Instead of Shares Shorted/Float our calc is Shares Shorted/ (Float + Shares Shorted)
So, by this definition, if a stock is shorted 400% of existing shares (total banana count borrowed and resold 4x) and total shares is 100, short % is calculated like this:400 shorts / (100 shares + 400 longs whose shares are borrowed) = 0.8That is, the normal way we define short % would say it's 400% shorted. S3's way says 80%.
Knowing this formula, we can work back to what S3 would have said the short % of float was using the normal definition of short % of float:55% short of float means for all existing shares + shorts (or, ont he other side of the trade "longs whose shares were borrowed away to short") is 55/45 as much as existing shares. Meaning, portion of shares short by the normal definition (% of existing bananas borrowed) is 55/45 = 1.22
That is, S3's data is telling them that after friday trading, GME is still 122% short.
**
Many have pointed out this could be manipulation on S3’s part. It’s interesting to note that as late as the Jan 29th, Ihor from S3 stated most GME shorts have not covered and net shares shorted hadn't moved much at all (https://twitter.com/ihors3/status/1355246955874701314). Initially on the 28th he claimed short interest float to be $122 (https://twitter.com/ihors3/status/1354847896173240322). The next day he claimed short interest to be 113% (https://twitter.com/ihors3/status/1355249817048522755) of float. 2 days later on Sunday, S3 released a report on the calculated short interest to be 55% (oddly their original announcement tweet appears deleted, but found this https://twitter.com/S3Partners/status/1356392101806800897), which was confusing to many as this was a big discrepancy in short percentage in a short time. It turned out this percentage was calculated by including synthetic longs into the equation which is a practice that is not standard, thereby yielding a lower short interest percentage of 55% which the media then bandied around before and during market open on Monday. Whether this involved collusion to harm the retail investor I cannot conclusively say as I don’t have the evidence to conclusively make that claim, but definitely something to consider along with all other data points.
With the possibility of Synthetic Long Shares being used in a fraudulent way, if you care about how this could play out if we force the issue, I would recommend you to follow instructions from this comment https://www.reddit.com/wallstreetbets/comments/lcpwh0/how_gme_can_still_be_a_great_play/gm2tsnw/ and call or email Gamestop Investor Relations and ask them to call an emergency share holder meeting to save the company from bankruptcy, as calling this vote means calling shares back to owners eliminating all synthetic stock, and hence taking leverage away from short selling funds participating in fraudulent activity
If you'd like to read more into the subject here are more solid posts that are related to this subject that I recommend you check out:
https://old.reddit.com/wallstreetbets/comments/lalucf/i_suspect_the_hedgies_are_illegally_covering/
https://old.reddit.com/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/
https://www.reddit.com/wallstreetbets/comments/lanf94/gme_is_a_time_bomb_and_its_highlighting_a_severe/
https://www.reddit.com/wallstreetbets/comments/lag1d3/why_gme_short_interest_appears_to_have_fallen/
https://www.reddit.com/wallstreetbets/comments/l9rk78/sec_doj_60_minutes_public_data_suggests_massive/
https://www.reddit.com/wallstreetbets/comments/l9z88h/evidence_of_massive_naked_short_selling_fraud_in/
https://www.reddit.com/wallstreetbets/comments/lbydkz/s3_partners_s3_si_of_float_metric_is_total/

Megathread: Long-Concealed Records Show President Trump’s Losses and Years of Tax Avoidance | Part II

Gamestop Big Picture: Theory, Strategy, Reality

SUBMISSION	DOMAIN
The New York Times Publishes Bombshell Report on Donald Trump's Tax Returns	esquire.com
Trump Holds $421 Million In Debt, Could Owe IRS $100 Million In Penalties, Times Says	huffpost.com
Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance	nytimes.com
Donald Trump 'paid $750 in federal income taxes in 2016' - New York Times	bbc.com
‘Freeloader-In-Chief’: Twitter Afire Over Explosive Trump Tax Return Report. “Raise your hand if you pay more taxes than supposed ‘billionaire’ Donald Trump.”	huffpost.com
18 Revelations From a Trove of Trump Tax Records	nytimes.com
Trump paid no income taxes in 10 of last 15 years, with president’s financial challenges mounting	theglobeandmail.com
5 takeaways from NY Times report on Trump's tax returns	apnews.com
Report: Financial records appear to show Ivanka Trump got 'consulting fees' to reduce father's tax bill	theweek.com
New Biden campaign ad jabs at Trump's reported $750 income tax payments	thehill.com
Trump's tax revelation could tarnish image that fueled rise	apnews.com
Trump’s tax revelation could tarnish image that fueled rise	detroitnews.com
Tax bombshell reveals Trump's image is a sham	cnn.com
Ocasio-Cortez: Trump contributed less in taxes 'than waitresses and undocumented immigrants'	thehill.com
Biden campaign sells 'I paid more income taxes than Trump' stickers	thehill.com
New York Times: Trump paid no income taxes in 10 of past 15 years beginning in 2000	cnn.com
Report: Donald Trump Pays Less In Taxes Than People Living Below the Poverty Line, Most Likely Because He’s A Crook	vanityfair.com
Trump avoided paying taxes for years, largely because his business empire reported losing more money than it made, report says	washingtonpost.com
What the Donald Trump tax return revelations could mean for his re-election chances	9news.com.au
Donald Trump paid no income tax in 10 of last 15 years: NY Times - US & Canada	aljazeera.com
Video: Trump Calls Years of Tax Avoidance ‘Fake News,’ Attacks I.R.S.	nytimes.com
Trump’s huge losses and a $70,000 hairstyling bill: Six key findings from bombshell tax report	independent.co.uk
Biden Campaign Shreds Trump With New Ad, Snarky Merch After Stunning Tax Report	huffpost.com
Trump Tax Returns Show He’s a Populist Fraud	thebulwark.com
Trump's tax revelation could tarnish image that fueled rise	apnews.com
Trump’s Massive Hairstyling Bill Revealed In NYT Bombshell Tax Report	huffpost.com
Trump criticised Obama for only paying 20.5% tax in 2012 — a new NYT report shows Trump paid no income tax that year	businessinsider.com
Trump’s tax avoidance is a national disgrace. Don't let him blame 'the system' - Americans paid for Trump’s $73m tax refund – and he’s laughing all the way to the bank	theguardian.com
Trump income tax filings reveal chronic losses, tax avoidance	detroitnews.com
Trump has lost more than $315 million on his golf courses over the last 20 years, bombshell report finds	businessinsider.com
Michael Cohen says Trump "should do 360 years" in prison after tax returns revealed	newsweek.com
‘An ER visit costs more’: Trump’s reported $750 tax bill inspires a rush of comparisons	washingtonpost.com
First Thing: Trump’s tax returns finally released, just in time for election	theguardian.com
The Finance 202: Trump's tax avoidance is already breaking through to the presidential campaign	washingtonpost.com
Trump's Election Odds Worsen After Tax Returns Released, Bookmakers Say	newsweek.com
The Trump Tax Bombshell	nytimes.com
Donald Trump ‘a bad businessman or a tax cheat – probably both’, say accountants	theguardian.com
Trump Tax Returns the 'Rosetta Stone' for Understanding His Corruption, Michael Cohen Says	newsweek.com
Biden Campaign Pounces On NYT Bombshell Report On Trump’s Tax Returns	talkingpointsmemo.com
Why Donald Trump’s Tax Returns Matter — Business failures, shady tax dodges, conflicts of interests—now we know why he didn’t release them.	motherjones.com
Donald Trump's tax returns reveal why he really ran for president	cnn.com
Trump tax records show duplicity. That's devastating for his campaign.	nbcnews.com
18 revelations from a trove of Trump tax records	boston.com
Ten times Trump shamed others on tax	bbc.com
Trump paid more in tax to foreign countries than to US - He made payments to authorities in Panama at an amount of $15,598 (£12,127), some twenty-one-times bigger than his contributions in the United States	independent.co.uk
Trump Is Just Another Moocher - The president is running out of time, and his tax returns just dispelled all his pretensions to wealth and sacrifice.	theatlantic.com
Trump tax returns show he paid no taxes for 10 years, claimed golf courses lost $315 million: report. After avoiding taxes for a decade, Trump paid just $750 in income tax in 2016 and 2017	salon.com
Trump’s long-hidden tax returns make him look like a terrible businessman, or a cheat. Probably both.	washingtonpost.com
Perspective - Trump is either a tax fraud or the world’s worst businessman	washingtonpost.com
Former GOP governor says Trump has "no empathy" and "no transparency" after report on president's tax avoidance	newsweek.com
Don Jr. Accuses NYT Of Publishing Trump Tax Bombshell To Give Biden 'Attack Line' Before Debate	talkingpointsmemo.com
Ordinary People Are Sharing All The Times They Paid More Income Tax Than Donald Trump - "I paid more than $750 in income taxes working 39 hours a week at Starbucks during college."	buzzfeednews.com
Biden campaign seizes on Trump tax report to underscore 'Scranton vs. Park Ave' message	cnn.com
No, The New York Times Did Not Break the Law by Exposing President Trump’s Tax Returns	lawandcrime.com
Trump Erupts at Bombshell Report Revealing He Pays Almost No Federal Income Tax	independent.co.uk
Report of Trump’s tax-dodging buttresses Biden’s ‘Scranton v. Park Ave.’ theme	latimes.com
Trump earned $73 million in revenue from foreign business deals during his first two years in office, according to a review of the president's tax returns	businessinsider.com
Trump’s Tax Evasion Is an Indictment of American Plutocracy	thenation.com
Trump defends tax practices while bashing New York Times report	thehill.com
Democrats Say Trump Tax Returns Report Shows His 'Disdain' For Working Families	npr.org
‘Do as I say not as I do’: Trump’s old tweet attacking Obama’s tax bill comes back to haunt him	independent.co.uk
Trump tried new line of defense amid tax scandal	politico.com
Trump's Tax Returns Expose Him as a Massive Failure Who Survived in Age of Plutocracy	esquire.com
Trump's Reported $750 Tax Bill is Smaller Than the Average Payment for an American Household Making $20,000 a Year	businessinsider.com
Biden Wastes No Time Hitting Trump on Tax Returns	usnews.com
The Government’s Probably Spent More at Trump Properties Since 2017 Than He’s Paid in Income Tax for a Decade	washingtonpost.com
‘Do as I say not as I do’: Blockbuster NYT report casts new light on Trump’s tax rhetoric	washingtonpost.com
'Two days rent in Trump Tower costs more': Trump's reported $750 tax bill inspires a rush of comparisons	independent.co.uk

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, and I'm using money I can absolutely lose. My capital at risk and tolerance for risk generally is likely substantially different than yours.
Note: If you have insightful/challenging comments, please consider putting them on the main post as soon as it get approve (assuming it gets approved) on investing*.*
Before I get into Monday's action, a couple of things:
I wanted to first give a shout out to piddlesthethug for capturing this screenshot, which shows that moment in time I referenced in my third Gamestop post, where some poor soul got sniped while sweeping the 29 January 115 calls. I added it into the post with an edit, but my guess is most who read the post a while back would have missed it. I guess my mental math in the moment was off as you can see from the image that the cost was actually just shy of $500k rather than $440k as I wrote in the post. Brutal.
People have also asked me where I stand on this trade. I was lucky to get in early, trade some momentum, and retain a sizeable core holding (relative to my play account). As I've mentioned some comments, my core holding, which I will hold until this saga plays itself out, would buy me a new car, all cash. Though after today I'd have to downgrade from a lower end Lexus to a Corolla lol.
Alright, so, today's action.
I have to admit that I was just glancing at the chart between writing emails, working on excel spreadsheets, conference calls, and meetings. Whenever I could, I was listening to CNBC in the background, and taking a closer look whenever I heard anything that might move sentiment, or theoretically telegraph an attack as had happened so many times last week.
In my opinion the price action played out almost by-the-numbers according to a squeeze campaign strategy as I laid out in my previous post. I want to be clear, however, that while it was consistent with what I laid out (liquidity drying up, trying to skirmish at lower and lower price points), you could reasonably interpret it other ways. As I mentioned in at least one comment, seeing things play out in a manner consistent with your expectations is by no means positive confirmation that your thesis is correct. It just happens to be consistent with the evidence you have so far. Always keep that in mind.
I tried responding to a few comments and questions in realtime as I got notifications on my phone. Just as a heads up, I won't always be able to do so, and it seems like there were a number of knowledgeable people commenting in realtime anyway. As I've said in comments on my previous posts, I am definitely not the smartest person in the room, so don't just take my word for it just because I'm the original poster. Please challenge anything I say if you feel I'm mistaken, and don't dismiss out of hand people who may have a different viewpoint.
One thing I thought I noticed in early morning market hours action was that there was no sell order depth above the ticker price, which I interpret as a good sign. Downward pushes into fairly good volume got sucked back up largely in a low-volume vacuum. The most extreme example of this was the first push right at market open. Tons of volume to push the price down, then a tiny fraction of volume as price got sucked back up. This means very little continued panicking and bailing due to the aggressive push, resulting in gaps to the upside on the follow-on buying. There were messages and comments from people concerned that low price would let the short side cover, but, as I explained, low price doesn't help the short side unless they can buy at that low price in meaningful volume. That sort of action where price gaps up as soon as buying (whether by shorts or longs) is driving price tells you that there isn't much meaningful volume to be had at the lower prices. From a higher level view, volume through the day dropped as price dropped, and that seems to have remained consistently true throughout the day.
There was some very strange after-market volume. No idea what that may have been, other than maybe hedge unwinding as T+2 contract settlement outcomes were determined. It seemed, at least to me, to be too much volume in too dense a time window to be retailers bailing out of their accounts en mass. It would make no sense to do so into the vacuum of after hours anyway rather than the firmer price support of market hours.
I got messages that I was both a short side hedge fund shill and a long side pump and dump fraudster trying to somehow take peoples' money. My sentiment analysis KPIs thus indicate I'm likely striking a healthy balance (lol).

The Game (Theory)

Power

Faith, Conviction, Calculated Risk

Swimming In The Deep

Two-By-Two, Eyes-Of-Blue: Uncovering The Conspiracy And Future Expansions of 2077 - An Analysis of The Conspiracy, Clues, and Theories to the Future

I think we're all aware by now of the conspiracy that's building in the background of 2077. Most of us know about the mysterious Blue Eyes who appears in The Sun ending to the game. He operates as The Stinger of sorts for (that) ending of the game; He and V discuss a job vaguely alluded to through out the ending sequence and then the ending cuts to V in space charging off towards The Crystal Palace. Cue DLC Hook and credits.
But, let's go back here. This is only the tail end of the conspiracy and where it actually intersects with V's story. Blue Eyes (and some connections to him) crop up multiple times through out the game and, when pieced together, start building a larger picture that runs deeper into Night City than the pockets of most corporats.
I've finished my second playthrough of the game and I've been drafting this post as I play and find more clues. I doubt I'll find everything or might completely dismiss some, but I want to be on the front lines of uncovering this mystery, especially if this will be our Gaunter O'Dim for Cyberpunk 2077. I apologize for the length of this post ahead of time, but I need to summarize a bunch of lore and at least 4 major side-quests; "I Fought The Law", "Dream On", "Full Disclosure", and "The Prophet's Song".
Here's a long essay incoming, but I hope you chooms enjoy and I hope you read through to the end because, oh boy, I uncovered some cool shit!
So, who is Blue Eyes? Who are his contacts? What is his role in the ecosystem of this city?
"I FOUGHT THE LAW"
Let's start with where he most appears in the game; Jefferson and Elizabeth Peralez, political family in the running for Night City's first family. Which I kinda have to summarize their questlines, including the first one which Blue Eyes never appears in. But I'd prefer to go in chronological order and not jump around, so stick with me.
Elizabeth first contacts you for the job "I Fought The Law". It's fairly basic, but the quest tells us she convinced her husband to hire V to look into the recent death of Mayor Rhyne. We get a BD of a cyberpsycho attack by Peter Horvath on Mayor Rhyne. Weldon Holt leaves the room before the attack and then the security gate crashes right before Peter walks in with billions of eddies worth of chrome. The attack is unsuccessful and stopped by Detective River Ward, who was only there because Peter went missing internally at the NCPD and he knew where Peter would go.
When investigating Peter Horvath, his previous boss describes him as paranoid that "probably thought Mayor Rhyne talked to him through the TV" and that the world was out to fuck him. She then mentions that someone "finally saw what he was worth" which cues into how Peter was thrown into this attack in the first place; he had a patron who funded his chrome and the attempt on Rhyne's life. Tellingly, River than goes into a little talk about how clues rarely make sense until put into the larger context, much like we're doing right now.
V goes to the club Rhyne died in; The Red Queen's Race. V sneaks through, takes out some Animals, and can investigate what actually happened to Rhyne. If we read the emails on the office terminal, we know that Weldon Holt arranged for Rhyne to be there. He initially mentioned this to Rhyne during the first BD; Rhyne asked Holt directly to arrange his usual room at the club. So, this doesn't inherently look too suspicious on it's own, but Holt knew where Rhyne would be. We also find out via the Animals Boss there that Weldon Holt is the one who hired them to smash up the club and they're currently waiting around for payment. Further, you can go to the room Rhyne died in, find the BD headset, and put it on... which INSTANTLY knocks V out and they need to be rescued by River (who, btw, takes out any Animals on the property you didn't get to! Ty bro!). They surmise that Rhyne was killed by a virus in the headset. Lastly, we find footage of Detective Han (River's partner) covering up the death of Rhyne. They confront Han, V goes off to the Peralezs, and quest ends.
Of note, finding the BD set is a hidden dialogue option with the Peralezes suggesting, yes, that's the correct deduction to make. You don't get that option otherwise. And V never actually comes to any real conclusion to what happened to Rhyne.
So, let's summarize what we know about the death of our Mayor. Peter Horvath was hired by an unknown Patron who spent a ton of money to turn him into a suicide bomb against Rhyne. They have connections internally to the corrupt NCPD which allowed Horvath to get access to Rhyne, both from escaping NCPD custody and for the security to give him access to Rhyne's conference room. That fails so our mastermind instead assassinates Rhyne at his usual sex club, one that we know for sure Holt knew about. Rhyne is assassinated via malware in a BD porno headset, NCPD comes in an Detective Han cleans it up. Later, Holt hires the Animals to take claim to the club and fuck it up.
Holt is looking suspicious AF rn, but we also don't have any direct evidence and V says as much if you accuse him. Personally, I think it's a little too clumsy if it's him. Holt leaves the room just as an assassination attempt goes down, sets up a sex club appointment for the Mayor where he's successfully assassinated, NCPD covers it up... and then he hires a gang to cover it up more? Something doesn't fit here.
My theory is Holt is innocent. He's a scum bag, but not the culprit here. Why would you EVER give your identity to the Animals you hired to cover up an assassination? The big dumb brutes of the underworld? A name they give up with almost no fight? No, I think someone hired them under Holt's name. And I think they hired them because they KNEW the BD Headset was left behind; Han dismissed it entirely as Rhyne dying of a heart attack brought on during sex. They needed that destroyed to cover the final footprints. It's the only piece of evidence that doesn't have Holt or NCPD's name on it and doesn't fit the narrative that both are pushing. If they're covering NCPD or Holt's tracks, why not delete the emails or footage of Han? And if Holt or Han were trying to push this false narrative, why leave the headset right there the first time?
And, while I have no evidence of this assertion, the Animals are only still there because they're waiting for payment to come in... I think our employer never intended to pay them and left them in the path of V, who is likely to shoot them and tie up the loose end for our mysterious entity. Animals destroy the BD set, V shoots the animals, no trace. And, even if he doesn't, Animals will point V to the wrong person.
No, we've got a third party here. But let's continue so we can finally let our lead actor take center stage.
"DREAM ON"
"Dream On" starts when Jefferson calls V and asks them to help in another case. Long and Short; Jefferson woke up in the night and found a man in a mask (or an implant) standing over him. Jefferson shot the man, only for his head to fry and knock him out. Coming to, he's back in bed with no evidence it ever happened. SSI, their private security, insists that there was nothing on the cameras, no evidence, and nothing happened. Elizabeth claims she slept through the whole thing event.
V investigates the apartment, with Elizabeth giving the tour, and finds a lot of evidence. Elizabeth is kinda dismissive at first thinking V won't find much. First small stuff leading into larger reveals. Let's start small and work our way up.
First room Liz takes us to is the campaign room. She talks about running the campaign entirely out of pocket and having to keep most of their supplies at the Penthouse; "It's cheaper that way". You find a picture of their daughter on the wall and Liz explains that she's off at university in Europe while Jefferson is running for office; "It's easier that way" she says. That phrasing again.
EDIT: A redditor in the comments pointed out that the Peralez are being controlled via drugs in their food as part of the tech. They mention they've been eating fast food lately, explaining why Jefferson was lucid enough to catch the agent and shoot him.
V can look at Jefferson's emails (which Liz slightly discourages them, saying there's nothing there) which reveals a bit more about their campaign. There's a video of the iconic commercial and poster of Jefferson pulling out a gun and shooting a bunch of paperwork. In the email, Jefferson HATES this commercial, but his assistant, Lea Patel, insists on it as it will air in television time slots with action-drama series and catch the attention of voters. Further emails have Eric Boucher, Jefferson's Campaign Partner (Manager?), saying Jefferson has been acting unpredictably lately; presumably referencing one of the next emails. Boucher is confused because they fired Lea Patel together, only for her to continue working and sent him a new ad for approval. When emailed, Jefferson is confused about Lea being fired at all and doesn't remember the event ever happening, even telling Boucher to be honest if he has some issue with her. A final email is from SSI Chief of Security, Wallace, discussing Jefferson's intent to hire a merc to look into Rhyne's death ("Dream On") and they suggest Jefferson drop it or have NCPD or themselves look into it. Private Security just... offering to investigate the former mayor's death? Huh... sounds more like they want to squash the issue to me.
We should now talk about the Peralez's campaign. As you explore the apartment, Liz explains that they're running on a corp free campaign; they want to get Night City out of the control of the corps and do so without ever owing any favors to them. She specifically cites "Night Corp, Militech, and Petrochem" as ones they've denied. Militech and Petrochem come up a few times in other quests but Night Corp is relatively obscure. And they choose that corp to be the first one she mentions? Stands out to me. It also isn't lost on me that we're talking about running a campaign out of pocket and refusing corp assistance... while walking on the fancy ass balcony of a penthouse in Charter Hill- North Oak.
Next room, we find Jefferson's office. Elizabeth and Jefferson both graduated with law degrees from Asukaga University in Berkley. V points out it would be extremely expensive for them both, but Elizabeth says that both got full ride scholarships from the Richard Night Foundation, run by Night Corp. To further fucking cement this moment, there's a Richard Night biography shard on the desk. But we'll drop this for now because I want to get to Night Corp a bit later.
The computer on the office desk has some emails on it sent by Elizabeth. One is between her and Judy where she's asking Judy for help on the original "I Fought The Law" quest and Judy is the one who gave her your contact in the first place. Another is from their daughter kinda asserting the same thing earlier; safer for her in Europe so she's not a target on the campaign trail. And here's the interesting one; Boucher emailed Elizabeth asking why Jefferson changed his mind on Lea Patel. Elizabth says Jefferson explained it to her that it "slipped his mind" and "circumstances changed in Lea's favor" and she asks him to drop the whole thing. She's dismissive and gives extremely vague details.
Next room, Bedroom. Elziabeth's gun is on the table. It's the one Jefferson claimed he fired and scanning it tells us that it has been fired recently. We also find the wedding photo of Jefferson and Elizabeth where she fondly talks about having blue roses because she loves them so much... except the photo's roses are red and V says as much. Elizabeth quietly corrects herself that they only had red roses instead and moves on.
In the hall, we find the blood trail and gun shots in the wall; both covered up hastily. Following the trail, we enter a tv room. The Smart Glass isn't working and Elizabeth says it stopped working recently; not like they use it much anyway. Passing a Tech Check lets us try and fix it... only to be quickly blacked out by it so hard Johnny felt it too. V asks Elizabeth about it but she doesn't know what V is talking about despite having been standing right there. We also find a hidden door in the wall. Unlike earlier, Liz is actually confused by the door but demands V try and open it.
Downstairs we have the security room. Liz says that it used to be her place but "Security had to set up somewhere" and that she had to make sacrifices for this campaign; "it wasn't the first nor will it be the last". One computer has a Welcome email from SSI to new recruits. It details that they have access to all areas except Section Zero, which is reserved for Blue or Black agents and that, should the encounter a Blue or Black Agent (SPECIFICALLY "in the night"), do not interact or acknowledge them. The next email from Wallace mentions an accident where there was a "behavioral anomaly" and "ALPHA" injured a Blue Agent (BLUE-66M) who is in critical and the SSI head is requesting access to Sector Zero to give medical aid. SSI gives Wallace the code to Sector Zero and sends a team to aid. SSI knew about the accident and lied. You go to the second computer, unlock it, and can unlock the upstairs door. On that terminal is a bunch of deleted files (presumably the security footage from that night) and emails discussing "normal maintenance procedure" and further informing security that ALPHA (Jefferson) hired a merc (V) and, should security encounter them, do not interact with them.
Small thing I found interesting, a shard called "You Are What You Slot" is found down here too. It details a fictional assassin who kills and then steals the identity of her victims. Small and doesn't mean much on it's own, but the shards are hinting at the story here; one of false identities and manipulation.
Now, let's get to the main event; the secret room. Inside is a control center. Elizabeth is horrified and feels violated. She shouts that she's not letting SSI anywhere near them, only for her head to start hurting and she tells V to do what he needs to do. She leaves him. Inside the control room is a box of bloody medical supplies. The computer discusses "behavioral norms" for ALPHA (Jefferson) and suggests amplifying "neural dampening". It discusses things similar to Wallace's terminal, but from the other side; ALPHA is displaying odd behavior by hiring a merc, the SSI teams avoided meeting the merc, and then the actual accident that occurred injuring BLUE-66M during regular 'maintenance'. The other side of the room also has another data shard, "Rewriting Synaptic Pathways", basically talking about using tech to rewire the brain a bit.
Following some wires from the control room to the roof, we find a signal dish. Johnny (replacing Elizabeth for conversation now that she's gone), joins in that the tech looks prehistoric but functional and that Militech used it in the war; it requires line of sight to transmit data but otherwise can't be intercepted. We can see the tower and go to investigate. V tells Liz the whole deal; V can suggest that the Van near the tower could be SSIs or that it might not be due to unconventional tech. Liz then itterates twice that it's a stressful campaign time for Jefferson and V should talk to her, NOT him. "Sure, whatever" V and the player dismiss.
(I SWEAR WE'RE ALMOST DONE WITH THE SUMMARIZING FOR DREAM ON, I'M SO SORRY.)
We drive after the van, Johnny is suddenly excited for smashing a corpo conspiracy and iterates that citizens do not choose their representatives, instead they're chosen by "key players" who watch the Peralezes for weaknesses or blackmail material. We arrive at the facility patrolled by Maelstrom and the occupants of our van park, get out, and climb ladders to the roof where they get into an AV that is cloaked to be near invisible (as shown in a couple of vids on YouTube and this subreddit).
At the place, Maelstom is explained; "UNKNOWN USER" contacted them while driving the van for protection to take care of V and then destroy the van. Van's data makes it pretty clear; the Peralezs' minds are being manipulated, new neural pathways are being created, and their memories are being created, changed, or erased. There are also a couple of other names of other test subjects. The data is then erased. We do see an almost flower like symbol before the data is destroyed.
The agents on the cloaked AV CAN be killed and do drop a shard, thought it doesn’t have many more details, merely that they’re contacting HQ to arrange extraction and that the Van’s data should be destroyed and echoing the arrangement with Maelstrom mentioned earlier in their shards.
V calls Liz, Liz wants to meet in person instead of over holo and send him to a Japantown Raman shop (same one that used to be Rainbow Cadenza, coincidentally). Odd choice for an upstanding congresswoman. She says her nerves are shot, the ramen shop is a quieter place to meet than the apartment, and she needs a moment to gather herself since she last saw V, with V even asking if something has happened since they last saw each other. Of note, Liz is stress smoking the entire scene, something she hasn't done until now. She then explains, no, it's been over a longer period of time. She's been watching her husband change and act differently for awhile; he stopped reading, his taste changed, and he even insisted he was an only child and never had a bother when Liz asks about visiting the grave. Of note, yes, Antonio Peralez has a Columbarium Vault, which proves Liz is correct on this. She confesses that she herself has been told by others she's been acting strangely. V says she knew what V would find and she asserts that she doesn't know the who, how, or why, but "they're changing us". Jefferson apparently went on in great detail about a trip she swears they never went on, but she doesn't know if the vacation is a fake memory or if she's the one that doesn't remember.
She saw a stranger in their apartment tinkering with a monitor, only for him to be missing when it was reported to SSI and they looked at the feeds. The next day, she got a phone call from a stranger (whom she refers to by "he") saying that she's walking on thin ice and Jefferson could have an accident. They later erased all data that the phone call had happened. Elizabeth claims she's terrified for herself and her husband's safety and doesn't want V to reveal the truth. V points out "they" could be telling her to say that but it doesn't really change how she feels since she just wants Jefferson to be safe. She tells V to tell Jefferson it was SSI spying for Holt. She asserts she wants SSI out of her roof if they're spying on their sleep. She will take responsibility for firing SSI, but wants Jefferson to be safe and out of that fight. She adds a meeting with Jefferson to his calendar at Reconciliation Park. But, ultimately it's V's choice (especially since she has no idea if she'll remember the conversation) and leaves. Johnny jumps and and talks and mentions that there were talks like this back in his day and worrying about the damage a puppet mayor could do.
V heads to Reconciliation Park to meet with Jefferson. Entering, V is called by an Unknown Number which blacks out V's optics. They claim to know who V is, *what* V is, and what V wants. It doesn't matter what V tells Jefferson, but "don't dare cross that line" and "you're playing with fire". Its a garbled male robo voice, so safe to say it's irrelevant to the owner.
Enter Stage Right, our missing lead; Mr. Blue Eyes. He is standing on a balcony watching the place where we meet Jefferson. In the Scanner, he is labeled "Mr. Blue Eyes", has no known affiliation, is wanted for "SC 370", and is wanted for "Classified". His eyes are electronically glowing blue you can even see from several yards away. You cannot injure him as grenades do nothing and you can't aim at him. Of small note, and I don't know if this ACTUALLY means anything, but his hair style asset is referred to as Morgan Blackhand in the files, but could mean nothing if this hair is actually used by other NPCs. MOST LIKELY THIS IS NOTHING UNLESS SOMEONE HAS FURTHER INFO.
(Plot twist: It meant something. But we'll get there.)
V sits with Jefferson and can reveal the truth; "SSI is on the take from an unknown group to control your lives". V can even point out the absurdity of Peralez being as successful of a politician as he is without any corp sponsors. "They want you to be *their* mayor. Molding you like clay". You can tell Jefferson how to proceed and additional details, but it doesn't matter. Later, Jefferson will send a text and delete your number and so will Elizabeth, who will call you out for telling Jeff. In the end credits voicemails, Jefferson has decended into paranoia about some vitamins Liz gave him which he didn't trust so he sent them to the lab, only to then not trust the lab results saying they're fine. Jefferson Peralez is confirmed the new mayor during Late Act 2 and the major difference is his state of mind at the end game; either hiring V to be on his security staff or descending into absolute paranoia over everything in his life.
Lastly, Johnny appears and cryptically talks about back in his day when they'd talk about rogue AIs. Personally... I kinda completely dismiss this? It comes out of nowhere, Johnny cites NOTHING for why he'd bring this up in relation to the case, and I can't fathom a motive. I’d also point out that this isn’t the only time Johnny is outright wrong. In fact, he’s wrong A LOT in the game. For example, he criticizes V for listening to the Netwatch Agent and that he’s bullshitting you. Except, the agent is 100% correct that VDB did spike V as a suicide virus and Johnny is actually wrong. He also claims he doesn’t know what happened with Thompson after Never Fade Away, but this is a lie because Thompson is flying the AV Johnny takes to Arasaka in 2023. The only connection I can find is "Who is controlling Blue-Eyes" which might make Johnny correct, if just not in the way 'Rogue AIs' initially implies.
So, what actually has happened?
The Peralez family has been molded for a very long time into being the perfect political couple. They got scholarships from the Night Foundation for two fancy law degrees, have successful political careers, and Jefferson is running for Mayor on an anti-corp platform, an insanity for Night City. And he's actually successful at it. During a maintenance service at night on the Peralez's apartment, Jefferson woke up and shot an SSI/Unknown agent making repairs. The Control Booth knocked Jefferson out and they pulled the agent out of the apartment into the secret room. SSI put the Peralezes back into bed and hastily cleaned up everything, but the damage was done and Peralez hired V who uncovered mostly everything.
Elizabeth seems to be initially very upset by the discovery, but wants V off the trail when we meet her next. However, she's not in on it as she's equally a victim to the brainwashing/gaslighting and that's for certain. I think she's a pawn who is either too scared or too programmed to break the rules of movement on this chessboard. It's worth noting that, while the unknown entity threatens Jefferson's life and V's well being, they do not make due on either of these threats. I call their bluff. They have put too much work into Jefferson to abandon or kill him.
But, where else have we heard of this gaslighting brainwash process before?
"FULL DISCLOSURE"
Ok, we're on the shorter end so I don't have to actually explain this quest in full. Sandra Dorsett is a netrunner and a very skilled on at that, actually collecting data from Night Corp. She was kidnapped by the savs we rescued her from at the beginning of the game shortly AFTER she stole this data, suggesting Night Corp was behind it. This data is on the shard she asks you to collect during the aforementioned quest. V has full ability to NOT read it, but let's look at it; "Operation Carpe Noctem" ("Seize The Night" in Latin)
Described in it is an experiment on Night Corp's own employees where they are quietly brainwashing them and getting them to do whatever they want. They specifically cite an empathetic and calm employee who they got to fight a co-worker and then jump from a 16th floor window. The shard ends on mentioning that they're ready to install CN-07 on "our actual target".
I think multiple quests discussing brainwashing and gaslighting is too coincidental to be utterly unrelated to each other. I think Night Corp's actual target mentioned here is Peralez.
So, what is Night Corp?
Night Corp is the most mysterious of the corps in Night City. It currently operates to better Night City via philanthropic ventures, fundraising, community support, and city infrastructure. Basically, while Militech and Arasaka and the others operate in the city, Night Corp basically RUNS the actual city. They're also noteworthy for the level of security they have that even the best netrunners can't get much from them and, since they keep to themselves and seemingly just do city infrastructure stuff, no one really super bothers them. It has been run by Miriam Night, wife of late-Richard Night, until recently and we currently don’t actually know who runs NightCorp.
Originally, they were the Night Foundation, but that requires explaining Richard Night... oh boy, Lore Drop. I'll make it quick as possible.
Richard Night is the founder of Night City. He started as a partner of a firm, but his ambitions grew beyond that to founding "Night International" to build his dream; a city that would be so grand it would make all other cities pale by comparison, Coronado City. A capitalist mecha of opportunity, Night City would be run by corporations and have next to no anti-business policies on the books. Arasaka, EMB, and Petrochem were his first backers and he came into claim of land on the central-California coast; Del Coronado Bay and Morro Bay would be the location of his dream city.
(BTW, irl, Morro Bay, California is a real place. Been there, have family there, go there regularly, kinda cool!).
Despite being a capitalist mecca city and run by corps, Richard Night also dreamed it to be "A sprawling metropolis, free of crime, of poverty, of debt. A place where people could live safely, peacefully, without having to worry about the dire situations that were growing around the world at the time".
However, due to the design plans, Night didn't employ local contractors and instead got expensive architects and builders from all over the world. Local builders didn't like that, they had mob connections, bloodshed started. And soon Richard Night was murdered by an unknown assassin, presumably a mob hitman. The city was renamed Night City in his honor and his dream utopia became to embody everything that was destroying the world. Mob took control and corps didn't give a fuck since it didn't hurt them any until they eventually had to take out the mob gangs, but not in any favor to Night’s dream either.
Miriam Night, Richard's Widow, founded the Night Foundation (later Night Corp) to stick to Richard's Ideal dreams of what he wanted the city to be. They invest heavily in ecological research, alt power sources, civic infrastructure, public works, and charities and scholarships for Night City youth. "They've even managed to stay out of the normal corporate power struggles which tend to plague every other corporation, both inside the city and out. Even the shadowy corporate rumors about them, like having underwater bases in the bay or access to orbital satellites, remain unsubstantiated despite extensive investigation."
So, where does this put us now? We have ONE last quest...
"THE PROPHET'S SONG"
Garry The Prophet is our local crazy man. He spouts off insanities to anyone who will listen near Misty's Esoterica in Kabuki. However, some of his ideas aren't quite as much off the mark as one might think. There ain't no technonecromancers from Alpha Centuri (or Spanish Inquisition) nor is Saburo Arasaka an immortal vampire, but he was correct that Saburo wasn't dead and in fact immortal; via Mikoshi and The Relic.
He send you on a quest to investigate a meeting; he says that his ripper mistuned some cyberware in his head and he can hear their communications. You show up to a meeting between corps and Maelstrom. They say some nonsense phrases and transfer a data shard. Reading it ("Destroy After Reading") it seems like nonsense. But does include the line "The cages of men melt as night descends". You can decode it via a Null Cipher; first letter of every line: “Project Oracle Command Execute Plans”.
We don’t know what Project Oracle is. In real life, secret project or operation names actually tend to be chosen at random and are unrelated to the actual project (you can google funny stories about names that ended up awkward to the actual project), so this could mean nothing. But, narratives tend to give meaning to everything. Oracles are mythical in references and could predict the future or see the unseen. Perhaps perfect prediction via behind the scenes manipulations? Not sure we’ll get answers on this one for now.
Going back to Garry, he's been kidnapped. His protoge is screaming he's been kidnapped "Black suits came by - blue eyes and all". Blue Eyes huh? Further, she claims that they threw him into an invisible AV... Huh, like the one we saw back during "Dream On"? "Night's comin... The eternal night"
So, it’s time to jump us to the final step in our Fool’s Journey: The Sun.
“THE SUN”
The Sun ending has V wake up in their new penthouse apartment (with their love interest if they have one). Checking the computer, we see emails from our dear Mr. Blue Eyes. He wants an answer from V as to the job to the Crystal Palace he has planned and that they’re on a tight schedule for “obvious reasons”. We meet with him at the Afterlife and he talks about the job; Casino security is going into maintenance and V mentions giving him the casino client list. V also asks him to “hold up your end of the bargain”. They never discuss eddies or payment. It’s all in such vague terms. “Your end” or “Obvious reasons”. Smaller point but an email from Vik on the space shuttle also tells us that he’s asked around about Blue Eyes and has nothing; either he works with people WAY above Vik’s paygrade or he’s shady as hell… or both.
I think Blue Eyes knows V is dying (the obvious reasons) and I think the unspecified payment is V’s survival. V always says that they want to come back to their love interest so it’s not a mindless suicide run and I don’t think V would risk it all for nothing but eddies; especially not after Reaper (both versions) paint suicide runs as a horrible terrible thing. To then glorify it in another ending… no, the game is smarter than that.
Your love interest doesn’t seem to be too upset about the situation either. Panam and Judy leave V in The Sun due to their lives taking different directions, but it seems mostly amicable and understanding. They even express desire to see V again because they know V needs to do this job. Kerry, who stays with V in The Sun and expresses worry and also a desire to settle down with V, also seems mostly understanding that V needs to go on this quest. I don’t think they’d be so calm and loving and understanding if this were a suicide run. They know more than the player does.
Further, I think Blue Eyes isn’t after the casino aspect of the Crystal Palace at all. While that’s the major commercial aspect of the station as marketed to the citizen world, the station also has embassies from every nation on earth, facilities from all the major corporations, and is pretty much THE place where all the dark corporate espionage goes down. There’s so much more to this location than ‘casino resort’. *EVERY* corp has space stations and hideaways in space because the Crystal Palace offers it’s own legalities and opportunities that are not allowed within Earth’s terms and conditions. If they want to do some research that would be frowned upon elsewhere and get up to some Top Secret shit, it’ll be in outer space. Night City is controlled by corps and has lax laws, but outer space’s are even more so.
I think the cure V wants is not only on the station, I think it’s what Blue Eyes himself is after, but I’ll get there when it’s time to theory craft about the future.
I think it’s worth noting; Blue Eyes IS IN THE TRAILER FOR THE GAME. Yeah, anyone remember that shot on a shuttle with a guy being burned out from the inside? Yeah, he’s there. In the foreground. *Smirking*. The shuttle also seems like they’re in space.
These events leading to the Crystal Palace and the conspiracy with Blue Eyes are blatant DLC Hooks for the future and suggest a post-game DLC. This isn’t the first CDPR has done so either; Blood and Wine takes place after the story of Witcher 3 and is explicitly incompatible with the worst endings of that game. I think, conceivably, other endings where V is still alive could be roped into this adventure; Blue Eyes merely needs to hire them with the same offer of survival. While The Star takes V to Arizona and away from Night City, I think that choice of location is appropriate as, to even get to space for The Crystal Palace, citizens go from LAX to Arizona for a space port to launch them off Earth’s surface. They could have chosen anywhere else to send Panam and V, but they choose Arizona, huh. I do think Reaper, Temperance, and Devil will be locked out of this future, however, as all make any point of Blue Eyes hiring V irrelevant; there’s no V left to hire/save. MAYBE a rejected Devil ending, but I wouldn’t blame them for not continuing that conclusion either as Devil is one of the bad endings.
So, it’s finally time to really compile a lot of this information into where I think this is going in the next comment below

GME Gang: On the Subject of the Golden Bridge and Its Inevitable Destruction By Fire 🚀🚀🚀

Build your opponent a golden bridge to retreat across.
Sun Tzu, Art of War
Everything was for tomorrow, but tomorrow never came. The present was only a bridge and on this bridge they are still groaning, as the world groans, and not one idiot ever thinks of blowing up the bridge.
Henry Miller, Tropic of Capricorn
I was wrong! Blow the bridge! Blow the fucking bridge!
Tugg Speedman, Tropic Thunder
Hello again GME Gang! It’s been a while since I last ranted at you, but I know we’ve been in some very good hands here at WSB with all the great DD folks have posted over the past few weeks. So no need for CPT Hubbard to go for 11 again on the Thumbscroll Dial (until today, that is). I’ve enjoyed a lot of these posts very much, so thank you on behalf of myself and the attention-deficient Rocket Children for continuing to deliver that 100% Chaff-Free GME-grade Wheat at such a feverish clip.
Now, I am going to get to Hong Kong’s Lamest Outlaw and his disconcertingly vacant eyes here shortly. But first I want to take you on a journey back to Christmas Eve, in the year of our lord 2020—a heady time in all our lives. We were all so young and innocent then, weren’t we? Fresh off the run up to 22. Blissfully oblivious that we were living in the last moments where the question What is The War of 1812? was the only acceptable Jeopardy question for the answer: The Last Time the Goddamn U.S. Capitol Was Stormed. This was also before we all became irresponsibly overleveraged in Cathie Wood’s Ornamental Gourds ETF. It was a wondrous, confusing time.
But before we get too off topic, let’s all hop in my 1985 DeLorean (purchased with proceeds from my Jan 15 calls – thanks RC!), fire up the ol’ Flux Capacitor, and get that shit to 88 because something happened that evening that is Worth Pondering—particularly in light of recent events. And just as a friendly reminder: even though you’re going back in time in a DeLorean, no one here has to deviate funds away from GME shares to Save the Clock Tower and you are under no obligation to fulfill a scenario where you wind up making out with your Mom (unless your Mom is Cathie Wood like mine—in which case maybe just some quick over-the-clothes stuff).
On the Subject of How It Once ‘Twas The Night Before Christmas
So what in the holy fuck happened on the night before Christmas, Captain? Well, while all you Gentiles were sleeping soundly after lying to your children about benign home intruders and before gorging yourself on the teat of late-stage capitalism, me and the rest of the Chosen People were up late eating Chinese food and thinking about tendies (self-hating Jew Joke! Ba-zing!). But then: when out on the electric twitter machine there arose such a clatter, I sprang to my phone to see what was the matter. And what to my wondering eyes did appear, a mysterious tweet from a Rich-Ass Viking who had a lot of fucking interesting things to say about this whole GME situation that’s what.
This tweet, buried as a reply to a tweet sent by Mr. Rod Alzmann (@RodAlzmann or u/Uberkikz11), simply said: “Merry Christmas. Shhh.” But it included this screen shot:
[**Image Deleted Due to the Mods - check the link below where someone transcribed it - I'll try to add later**]
Now, this tweet to Rod, sent late at night and likely after a strong Mead or three, was very promptly deleted. But your intrepid cub reporter saw this here tweet that night with his own two eyes—seeing as I am a degenerate GME addict and devoted follower of Mr. Rod Alzmann (Hi Rod!). And I took screenshots, of course, like any responsible records custodian might. And so did the dude who wrote a somewhat-overlooked WSB post on this, which included the most pertinent text of the message if you are having trouble reading it here:
https://www.reddit.com/wallstreetbets/comments/kk0omp/christmas_miracle_gamergate_2020_gme_shorts/
Now, what are we to make of this? At the time, I thought it was very interesting. But I did not give it too much attention seeing as how the internet is overcrowded with anonymous weirdos claiming to know more than they do about all sorts of subjects (and now I feel your judging eyes…). Also, there was some very good commentary in that WSB post from some sharp folks about the screenshot author’s questionable use of the shorthand PE/IB—given that private equity and investment banks wouldn’t apparently be involved in a behind-the-scenes transaction with the short funds like what was being discussed there (don’t ask me, I just string together silly words here). But maybe you poke around his Twitter a bit and see for yourself.
Still, plausibility assessments based on preferred nomenclature aside, it seemed to me that some version of that conversation had to be taking place behind the scenes in a situation like this—given the batshit insane short interest, the funds supposedly involved, and the rapid rise in SP coinciding with RC’s share accumulation, December 21st amended 13D filing, and new status as a GME Insider and Board member (just love saying all that in a row, don’t you?).
So the Viking’s screenshot tweet, and the very likely possibility that shorts are in so deep that they’re attempting to negotiate peace with large shareholders behind the scenes, stuck in my tiny little baby brain as a pretty plausible set of scenarios. And from the look of it, it seems like some funds were at least willing to discuss offering these shorts a Golden Bridge away from Certain Fucking Destruction on the open market. And if the words on the screenshot are at all aligned with reality, these short funds have no good options.
Yet it seems like they are still playing hardball to negotiate the carat on this generous bridge offer they’re getting. Why? Maybe they’ve been getting high on their own supply for so long and they don’t know how to see this situation for what it is. Who knows? Maybe there is no Ryan Cohen and we’re all living in a simulation. But if the recent low-rent anti-GME articles and market manipulation efforts we’re seeing are any indication, these overleveraged short fuckers seem to think they’re going to be able to spin out of this hold and drive the SP back down to even smaller peanuts than it’s at now by sheer force of will (and some deployment of well-honed tricks of the trade amirite?) to emerge unscathed. Or even victorious? I dunno—it’s their delusional fantasy sequence.
But do you know what this scenario reminds me of? And this is just coming to me so please bear with me as I’m not showing this to my editor before we print (I haven’t seen this movie in ages – don’t know what made me think of this!). Fuck it, I’m just gonna start riffing here. The shorts trying to thread this needle, against all odds and logic and common sense, reminds me of that hilarious scene in Dumb and Dumber where haplessly delusional Jim Carrey thinks he has a chance with Mary Samsonite Swanson. But the scene is funny because he really doesn’t. Have any chance. At all.
Now, I know this is a 1990s movie originally released on VHS that we haven’t seen it or even seen it referenced in ages. But now that you’re thinking of it again after all this time, doesn’t it remind you of this too? I know, I get it: You’d have to have fucking peanuts for brains for it not to.
(https://twitter.com/ryancohen/status/1350877969816956934?s=20)
On the Subject of the Continued Internet Bumbling of Mr. Justin Dopierala
Now that screenshot came to mind this past week when something kind of weird happened while we were all enjoying our quick rocket ship ride. And yes, we are briefly going to talk again about Seeking Alpha’s second finest pro-GME author (always been more of a Dmitriy man myself) and recurring CPT Hubbard character, Justin Dopierala (and no, Angela, I do not want to have like 10,000 of his babies).
Last Thursday, after we were all virtually high-fiving one another and counting our future Lambos, Mr. Justin Dopierala, head of Domo Capital and longstanding uber-bull GME shareholder and author at Seeking Alpha (last seen arguing pithily with our own Rod Alzmann about the conservative nature of Rod’s holiday earnings projections. Hi again Rod!), made it known that he sold all of Domo Capital’s 500,000 shares for around $42.50—at the very top of the run up last Thursday morning.
Now, Domo Capital’s business decisions are none of my goddamn business. And there are plenty of market opportunities right now. Shit, I hear there is even a new Cathie Wood Gourd ETF coming online soon that people are really excited about and that I’m sure Justin’s clients would find intriguing. But Domo’s decision to sell seemed curious given a few things: (1) on Wednesday, when the rocket is mid-flight, he got a twitter follow from Gabe Plotkin, head of Melvin Capital, which he promptly tweeted about with a “get a load of this fuckin’ guy” vibe (oh the sweet, intoxicating arrogance of tendie victory, I too love it so); (2) he had also tweeted that day comparing GME’s rise to Apron’s short squeeze that lasted 4 days—where he also stressed to his followers that Apron had a much lower SI than GME; and (3) he then promptly deleted all of these tweets and almost everything else GME-related on Thursday after apparently introducing 500,000 shares of liquidity into the height of a stressed market up and through the Thursday reversal and down into his own personal tendie town.
Now, after seeing all this, I mouthed off a bit to Justin on the electric twitter machine because that’s kind of my thing. And if you are familiar with my prior ramblings, you know that he and I go way back. In response, Justin talked a bit of shit about your intrepid cub reporter here in a comment on Dimitry Kozin’s October 21, 2020 article about a possible sony revenue share deal or something, the comment section of which has become the preferred SA water cooler over there. (And I can’t link that because Thems The Rulez). And Justin hurt my little feelings a bit with his very sharp denial. And by all means have at it over there to check out his comment about why he sold if you give a shit. That is if Justin hasn’t deleted it yet. Free country and all.
But to summarize, on the subject of treacherous coordination with Melvin Capital, Justin said he would not could not in a boat and he would not could not with a goat. And I for one believe him. And do you know why? Because even though Justin seems like a very smart guy in some ways, he’s also a well-known internet bumbler who blurts out things to his internet friends that a person with better self-control would keep to themselves. And so I do not think he is capable of pulling that off or keeping a secret like that. Also: he said he didn’t so I am more than willing to give someone the benefit of any doubt in that area and you should too. I think we keep Hanlon’s razor firmly in mind here about never attributing to malice that which is explained by stupidity. That is unless, of course, you’re Andrew Left and you’re actually trying to convince people that you didn’t realize there was a US presidential inauguration planned for the same time you announced your Super Important TeeVee Yammerfest ‘21 about GME not being a good candidate for an imminent short squeeze no way no how not if my name isn’t Andrew Left short seller expert extraordinaire and Hong Kong’s Most Misunderstood Ethically-Minded Businessman. You can ascribe the fuck out of malice to that one.
No, even though I really have no idea, I think the most likely thing that happened there was that Gabe Plotkin, Master of the Universe, Head of Melvin Capital, and Acolyte of Perennial Most Ethical Business Man MVP candidate, Steven Cohen—got into Justin’s head when Plotkin followed him on twitter during the 57% (at one point 94%) day last Wednesday and then Justin got a bit chippy about it.
And this is the real reason I’m bringing this up.
Because I honestly care very little about the Nervous Investing Habits of the Wisconsin hedge fund voted most likely to prompt a Mr. Roboto reference. No: I think that Gabe Plotkin sent a message with that follow. Without even ever having to say it directly. And I think that after GME’s huge run and getting a little overexcited while working the twitter machine, Justin maybe had a chance to relax with a warm glass of milk that night and reflect on that message. Which I believe was: I’m watching you, motherfucker. And the only reason I’m paying any attention to some shitstain Wisconsin pseudo-fund on a day like today when I am getting my ass fucking torched is because I want you to know that if this GME shit blows up on me, I’m going to fuck your ass up. I will remember the name Domo Capital forevermore. And when you least expect me, I’ll be there. Now: your move, motherfucker.
And once I realized what might have happened there, that made me feel kinda bad for Justin if he felt that way. Definitely a puss move because fuck you Plotkin I drink your fucking milkshake, right? But bad because that’s a mean message for a business colleague to send, Gabriel. Shame on you if that's how you roll like a big New York bully and scaring our poor Justin like that. And if you just wanted to follow him to shoot the shit or swap listicles and Star Wars Prequel memes with a respected contemporary—even in the very midst of getting fucking annihilated while short GME—well Justin has a totally different account for that and he’s not allowed to access it during work hours.
On The Likelihood That The Most Heavily Shorted Stock in History Is Not Being Subject to Continued Market Manipulation When A Steve Cohen Acolyte Is Losing His Fucking Shirt
Have you heard about Steve Fucking Cohen? The guy who looks like he’s tip top of the list of the premier Hollywood casting agency’s rolodex for Saddest Dipshit Still At the Strip Club After Everyone Else Has Already Gone Home? I’m sorry, that’s mean and my mother told me to always be kind to the truly hideous looking because they’re probably still beautiful on the inside (spoiler alert: he’s not!).
Get a load of this guy:
https://www.bloomberg.com/news/articles/2014-01-02/why-sac-capitals-steven-cohen-isnt-in-jail
https://www.latimes.com/entertainment-arts/business/story/2020-09-02/controversial-hedge-fund-billionaire-steven-cohen-takes-on-hollywood
https://www.marketwatch.com/story/steven-a-cohen-among-the-million-dollar-donors-to-trump-inauguration-2017-04-19
https://www.vanityfair.com/news/2016/11/steve-cohen-trump
https://nypost.com/2015/06/17/billionaire-steve-cohen-bros-out-with-guy-fieri/
Are you back? I’ve missed you. That was scary, wasn’t it? But allow me to TL/DR all that for you who decided to avoid all that unpleasantness: the dude just has all this bad luck and keeps finding himself into these really awkward situations where someone could potentially question his commitment to ethical business and life practices as well as adherence to the laws of the United States and it’s just not fair and nothing’s fair and Nice Guy Steve Cohen Is The Victim Here So Just Stop Right There Mister I See What You’re Doing. He's also bros with Guy Fieri. Cool.
But why am I talking about a guy who would so clearly pass Billy Madison’s Final Question about Business Ethics without even breaking a sweat?
Because Steve Cohen once had a young Ace Protegee that he loved very much. With the name of an Archangel, so tender and pure. And one day this young man decided he wanted to Prove Himself and Leave Steve’s Nest. And thus was born Melvin Capital, seeded financially by Steve Cohen but named after famed Crooner Melvin H. Tormé, which Gabe’s esteemed mentor Steve would play in his office, over and over, all those years ago.
Now let’s fast forward a bit because I’m boring myself with all that fucking Cohen reading (the bad Cohen—don’t you dare get anyone confused here). As I was saying: Gabe Plotkin, head of Melvin Capital, has by all accounts gotten himself into a bit of a pickle here being so deeply short GME. Lots of people have analyzed and overanalyzed it, and I’m not going to do it again here; that dead horse is well and truly beaten. But to bottom line it: we’re all just staring down what is essentially an unprecedented math problem that will, at some point, resolve itself. And if it revolves itself in favor of the Good Guys, then the Bad Guys will lose a Fuck-ton of Money. That’s your money block quote, WSJ, so fuck off and stop calling me.
Now: picture yourself as a Steve Cohen acolyte that just bought a $44M Miami Compound and who cannot stop talking about how co-owning the Charlotte Hornets is worth it just for the courtsides alone bro once basketball is a thing again and so what if Michael Jordan keeps calling him Gary it’s close enough. Are you feeling the most financially secure that you have ever felt in your young rich life right about now? Or might you be a wee bit worried that you’ve pursued an investment thesis so reckless, so irrationally and intentionally destructive of equity, that even Melvin H. Tormé himself must be rolling in his fucking grave that you would ever dare put at risk your ability to continue being Michael Jordan’s Gary?
And so here is when I again link my good buddy Jim Cramer’s Great Unveiling of the Tactics Deployed by Short Sellers hoping to change the narrative and construct a “new truth” to suppress the SP in the face of, oh, let’s just say: a very promising turnaround story in a high-growth industry by an e-Commerce Canadian Genius who does not fuck around and who knows what he’s fucking doing and aims to sell more and better video games experiences to crackhead video gamers and there’s a million things he wants to do but just you wait, just you wait.
Is this plot that hard to follow?
And I’ll also say this: I know fuck-all about monitoring order flows or how funds continue to create synthetic shares to short shit into oblivion. But I’m just stepping back and thinking of the broader narrative and tactics on this. Spit-balling here again—bear with me. Now, if you were massively short a security while paying out your ass in borrowing fees for the privilege of entering the most crowded short trade in the market and you’re now opposite a massive business turnaround story, Ryan Cohen, numerous institutions, funds, retail whales, Norwegian HNW Freemason Consortiums, and the energy behind the Finest Rocket Children Ever to Grace Planet Fucking Earth—and you’re taking it in the ass week after week here—Do you then play this straight? Do you set aside all of these illegal and deceptive short tactics Jim Cramer candidly outlines in that video even though they’re impossible to enforce and are in fact not enforced? That Jim basically says you’d be professionally negligent if you were short and didn’t do this shit because fuck it whosgonnastopyou? And now you fucked up and that steamroller is barreling down upon you and there are all these things you could theoretically do try to get yourself out of this jam if you were That Kind of Person? Do you set this all aside and, at least in Jim’s view, tie one hand behind your precious ethical back? On the most heavily shorted stock off all time where you are bleeding Real Life Big-Boy Money? Just buying and selling you know, just a job, honest living, nothing much to it, sometimes you win, sometimes you lose, can't get too carried away with it.
Or is it something a little bit fucking different than that?
I don’t know. I’m not in the industry myself. And I would never accuse anyone of doing anything so clearly contrary to the values upon which their professional career as Master of the Universe was built. So Gabe: chill. Don’t follow me or something on twitter man, since for all I know that’s Plotkinese for I Hope You Don’t Mind Sleeping With This Severed Horse Head in Your Bed Motherfucker. It’s just money, dude. You seem pretty well taken care of. But man would I be sweating if I were short right now staring down the barrel of your new neighbor Ryan Cohen’s whims and patience and polite Canadian manners and ambiguous emojis that we all lose our shit for. I mean, fuck man: are you ok? Don’t forget to exercise and eat well during all this. Maybe switch to green tea or something. And remember: you’ll always—always—be Michael Jordan’s Gary.
But here is where we return to our good friend Andrew Left from Citron Research.
Do you remember the excitement you felt this past weekend? I’ve never seen WSB so jacked. People were coming out hot on Tuesday—an uptick day! The new phone book’s here! The new phone book's here! What luck to be free of Gary’s tomfoolery for one fine day. And then GME spiked right away—reaching a high of over $45 that morning.
But then something happened. We all know what it was. But here is where any SEC lookie-loos need to close those Pornhub links and pay closer attention. Because in the moments before the Citron tweet that morning about Andy’s upcoming BuzzFeed Listicle call on Why GME is Scary Investment GRRRR, total short shares available dropped from 1.2M to 0. And a $300K put bet was placed on a weekly with a strike price well over 10% out of the money at the very moment that GME’s price was accelerating rapidly. (H/t u/FatAspirations). That’s some WSB-level shit right there.
And yet they pull it off! GME immediately shoots down nearly 30% intraday, and eventually climbing abck up above 10%, making us all feel a little weird and like ungrateful millennial brats for feeling so shitty about a 10% day. But we all know what fucking happened, now don’t we?
So what can we say about ol’ Andy? Now, many of you know Andy as the dumbshit who shorted TSLA until he was ground into little bits of dumb dumb dust and made to look ever so foolish over and over again until he finally cried drunk uncle and flipped to being long TSLA and now he’s cool to you or whatever. Or you might know him as the guy who puts out really shoddy research that often, by pure happenstance, drives a new narrative to control the orderflow and SP on a WSB-beloved security like PLTR? You know the guy I’m talking about. Once in hot pursuit by Hong Kong fuzz, an International Man of Obviousness with a face that says: why yes, I will have another vodka tonic thankyouverymuch. That’s him.
Well, just like future call-back candidate for the role of Frightened Inmate #2, Mr. Steve Cohen, Andy is also but a Caveman—frightened and confused by your modern concepts of “ethics” and “rules.” No! No!—He’s a straight shooter! Devoted to rooting out obvious frauds, like Lukin Coffee and TSLA (Do not fuck with Elon or my Hot Mom’s ETF, Andy). And like the aspirations of Antoine Bugle Boy when he entered the blue jeans market, Andy saw an overcrowded short trade here based on an overly simplistic and obsolete short thesis about GME and said: “Me Too!” And as this thing is ripping to the stratosphere, Andy starts ringing his dumb dumb twitter bell and saying hear ye, hear ye—Inauguration Day and time it shall be for all my Big Brain thoughts about GME!
Nothing weird about that. No sir.
So Andy Citron or whatever the fuck his name is will be putting out some dumbshit video or something today in what seems to be a pretty clear attempt to scare my poor Rocket Children and get those pesky computers to high frequency this shit to drive the SP down to more acceptable loss levels (cause let’s be honest: they’re still taking a fucking bath here) for Mel Tormé’s namesake hedgefund and all the other cretins that are dug into short position here. And they’re gonna try to scare ya’ with the color red! And they know that no one here likes the color red.
But do see what’s going on here and who we’re dealing with. This really ain’t rocket science, Rocket Children. The dude actually tried to claim he forgot about the Inauguration. In 2021. He has not been in a coma, to the best of my knowledge. But you do look a little bleary eyed, Andy. Must have been all that staying up super late working on those last few bullet points to fill out the powerpoint on that GME listicle of yours, eh sport?
Conclusion: On the Subject of Patience and The Arc of The Universe Bending Toward Ryan Fucking Cohen
In my youth there was a period of time where I went out on boats that would drop crates into the waters of the Arctic. Bundled inside them were raw pieces of meat. In the coming days the boats would head back out to the frigid seas, hook the floats bobbing upon the waters, and pull the crates up. Packed inside would be many crabs. They were so delicious & made a good price at market. The difference between the crate that was empty and the create full of bounty was a mystery even the great physicist Erwin Schrödinger pondered at much length.
But the hearty fishermen of my youth already knew the answer long ago. Why did the trap fill up? Time. In time, all traps fill. In time, all things pondered shall be revealed.
--The Fucking Viking, That’s Who
Now look, you all know I have a soft spot for Ryan Cohen. Hell, we all do. He’s a good dude. And the man has played this flawlessly so far. He really has. The fact that we are all sitting here with Ryan Cohen having successfully negotiated three seats on the Board—a bloodless coup as my man Rod Alzmann says—here in January? It’s amazing. His vision for GME is dialed-the-fuck in and extremely exciting. This misunderstood business is on the threshold of an exciting turnaround with Ryan Cohen at the helm. And though I was very much looking forward to the potential repercussions of a vote being called at the annual meeting and what that might mean for the short-term share price, this result is infinitely better. Whatever their motivations, that Board and George Sherman saw the writing on the wall here and accepted the Golden Bridge that Ryan offered them. And Ryan Cohen has done everything he’s set out to do here. And he’s clearly been having fun while doing it. Read up on the guy at some point if you haven’t–there’s lots of good DD out there on him, obviously. And while you’re reading and thinking about Ryan Cohen, think also about guys like Steve Cohen (no fucking relation) and Gabe Plotkin and Andy Left and how lucky we are that we get to roll with RC against that motley crew of fuckwads.
And do you know what? I’m guessing that RC, and maybe even the funds being discussed in that screenshot, have been very patient with Mr. Plotkin et al in recent weeks. You don’t go around bankrupting hedge funds willy nilly, you know--bad form and all that old chap. People tend to remember that. And guys like Steve Cohen and Gabe Plotkin seem like they play for keeps. So now you try to build them a Golden Bridge to cross—maybe not their preferred route of travel, but could be worse and all that, right guys? But for whatever reason it seems like the natural instinct here on the short side is fight over flight. And these short FUD tactics are getting increasingly ridiculous to help slow down the inevitable march toward the detonator right next to that bridge. So relax everyone! And let’s not fool ourselves: All those Masters of the Universes are well aware of the math problem they’re all facing here and they must have a vague grasp of the odds that this goes off in one direction over the other. And what that could mean for the size of their money pits and how many sports teams they can buy this year. Shit, I assume Steve Cohen is counseling his young acolyte about how many sads he himself felt deep down in his man heart on that fateful day in 2008 when he lost $250M on a short when Volkswagon squeezed to infinity—a sadness that he will continue to draw on when his agent finally finds him a role that calls for it.
But my point is: the longs here can afford to be patient and let this play out. When this thing moves, the Viking’s Schrödinger crabs will only be in one pot. And I’m guessing that pot is the one being held by the guy who is actually in total control here: Ryan Goddamn Cohen.
So enjoy the show today. If you’re anything like me, you’re feeling relaxed after gorging yourself on lucky space peanuts all week.(https://solarsystem.nasa.gov/news/10022/lucky-peanuts/)
And though these silly wabbits with their cumbersome FUD efforts can get a bit tiresome, I’m still very much enjoying this GME show at this point and almost do not want it to end—what with all these Sorkin-esque twists and turns and my Cohen Tweet Decorder Ring getting all this sweet action.
But just remember who Ryan Cohen is, what he cares about, and what, so far, he has told us he intends to do here. And then you might realize, as I have, that Ryan Cohen has had the Gray’s Sports Almanac here all along. This story has already been written. He’s already won. And Melvin Capital’s Schrödinger-ass crabs are dead as fuck. The only question now is: what causes that Golden Bridge to blow? I, for one, am content to wait on RC while counting my good fortune that I can continue to accumulate until whatever happens here happens. So pass the rocket peanuts.
It’s just money after all. Right Gabe?
TL/DR: Psst: a Mysterious Viking once told me about behind-the-scenes Golden Bridge negotiations that are likely taking place that give shorts no chance but the shorts seem to think they’re saying there’s a chance but there really is no chance; Gabe Plotkin, Steve Cohen and Andy Left are misunderstood Straight Shooters who probably answer typical interview questions about their own perceived weaknesses by saying “Sometimes I just care too much about doing the right thing”; and Ryan Cohen is the Goddamn Man so we can all relax and not worry so much about all this dumb short FUD bullshit, ok? OK. 🚀🚀🚀
**If you construe any of the above as investment advice without doing your own DD or at least Googling Ryan Cohen then you are a fucking idiot and may God have mercy on your soul. You too, Andy.

When a body is found 600 miles away... Extensive two part write up on the bizarre case of Judy Smith (1997). Part 1 of 2.

Hello everyone, for the last few months I have been creating long form write-ups on a variety of unsolved cases. If you are interested in other lengthy write ups you can find them on my profile- https://www.reddit.com/useQuirky-Moto.
Months ago, I was asked to cover the inexplicable case of Judy Smith, a woman who went missing from Philadelphia or perhaps Massachusetts, only for her body to be found in North Carolina months later. The case was famously covered on the show Unsolved Mysteries, and it is strange enough to warrant a long, hard look at the case and a comprehensive timeline. I hope you are able to learn something new about this semi well-known case.
Background
Judy Smith was born Judith Eldridge in Massachusetts in 1946. Right out of high school Judy married for the first time. Her husband and she had been married very shortly when in an attemot to avoid the draft, he fled to Sweden. Judy went in search of her young husband but soon returned to the states empty handed and filed for divorce. Years later, Judy married Charles Bradford a man who worked in the racehorse industry. They had two children together, Craig and Amy, but unfortunately the marriage did not last and soon Judy found herself jobless and raising two children by herself. Rather than fret, Judy got a job and enrolled in nursing school. Judy was known to study in all of her free time and soon became a successful home health care nurse. In 1986 at age 40, Judy was caring for a man who was recovering from throat surgery when she met her patient’s son, a well to do lawyer named Jeffrey Smith. Jeffrey said he was impressed by how Judy cared for his father and asked her on a date. Judy and Jeff had several things in common, both had been divorced single parents who raised children alone, and Jeffrey worked in healthcare as well, except he was a lawyer. The couple both enjoyed going to plays and Celtics basketball games. After seven years together, Jeff and Judy moved in together and three years later the couple married in Nov., 1996.
According to friends and family, Judy was a rather assertive and independent person. She was no stranger to travelling alone. Judy had been to Europe on her own a few times, and when her children were pre-teens, she took them to Europe for a backpacking adventure. Judy also independently traveled to Thailand where she went hiking and visited friends. While Judy wasn’t the epitome of fitness, she was an active person who enjoyed walking, hiking, and sightseeing. She was also known to be a go-getter who once helped an AIDS patient who was having a medical crisis on a plane. So, while Judy was kindhearted and considerate, she wasn’t thought to be naive and was able to take care of herself in a variety of different situations.
The disappearance
Five months into her new marriage on April 9th 1997, Jeffrey prepared to attend a conference in Philadelphia that was taking place from Wednesday April 9th-Friday April 11th at the Double Tree hotel in downtown Philadelphia. Judy decided to accompany her husband to Philadelphia and planned to do some sightseeing in the area. Afterwards, the Smiths were going to New Jersey to spend the weekend with some friends before flying back home.
On April 9th in the morning, Judy accompanied her husband to Logan International Airport to fly to Philadelphia, but discovered at the gate that she could not board as she did not have her photo ID. Judy encouraged Jeffrey to take the 1:30 pm flight and assured him that she would take a flight later that day and meet him in Philadelphia. According to relatives, the Smiths took public transport to the airport and Judy apparently took the bus back home and retrieved her ID. Jeffrey flew to the conference while Judy returned home and booked a flight for later that day. Judy boarded a 7:30 pm flight and arrived at the hotel in Philadelphia at approximately 9:30 pm.
Once at the hotel, the couple purchased some snacks and went to bed. The next morning Jeffrey awoke and ate breakfast at the complimentary buffet downstairs while his wife was still asleep. When he returned to the room Judy was in the shower. The two talked about several things, and Judy explained that she planned on taking the PHLASH bus in order to see the famous sights such as the Liberty Bell and Independence Hall. The Smiths planned on meeting up at the hotel in the evening to attend the conference’s 6 pm cocktail party together. With that squared away, Jeffrey attended the conference. Sometime in between 9 and 10 am a hotel concierge recalled seeing a woman matching Judy’s description ask how to get to the PHLASH bus stop. The woman was in her 50s, with shortish hair, wearing a dark colored coat, blue jeans, and white tennis shoes, carrying a bright red backpack. (Picture of the Judy wearing the backpack here).
At approximately 5:30 pm Jeffrey who was done with the day’s sessions returned to the hotel room expecting to find Judy waiting for him. Judy wasn’t there, so Jeffrey attended the cocktail hour in the hopes his wife was already visiting at the party, but she wasn’t there either. For the next 45 minutes, Jeffrey floated between the room and the party hoping to find Judy. At approximately 6:15 pm Jeffrey told the concierges that his wife had not returned from sightseeing and the hotel staff began calling local hospitals. At 6:30 pm, Jeffrey hopped in a taxi and instructed the driver to take the PHLASH bus route slowly so he could look for his wife. In one interview Jeffrey recalled that he made the driver go so slow it angered those stuck behind him. After a few hours without any sign of Judy, Smith called the police to report his wife missing. Shockingly, the PPD told Jeffrey that he couldn’t file a report until it had been twenty-four hours since the last final sighting of Judy. After lodging some complaints with some high-ranking officials within the city, a missing person’s report was taken for Judy Smith on the morning of April 11th, 1997 (Lewis, 1997).
Jeffrey called his step children and asked them to check the house in case Judy had gone home, and he also asked that they would check the answering machine, but there were no messages of note and the house was empty.
A check of the hotel room showed that Judy had left with her signature red backpack, her wallet, the jewelry she normally wore including a diamond engagement band and a simple silver wedding ring, and the clothes on her back. Jeffrey estimated that she had approximately $200 dollars with her at the time.
According to later interviews with Philadelphia investigators, Judy, or someone with her name did in fact buy a USair ticket on the 7:30 pm flight into Philadelphia. Her ticket was used to make the flight and her seat was occupied on the flight into Philadelphia (Justiceforjudy.org). At the time of the Smiths’ trip, regulations that required photo identification to board a plane had only been in effect for 18 months and Judy had flown only one other time during that time frame. Additionally, police have a luggage tag from Judy’s suitcase that showed that she took the 7:30 pm flight, and that her bag did not travel to Philadelphia with Jeffrey earlier in the day (AP, Oct 4th, 1997).
Sightings
As news of Judy’s disappearance spread, many people called the police station to report various sightings of Judy.
One PHLASH driver remembered picking up Judy in the early afternoon at Front and South streets, a stop near the Double Tree.
There was also a reported sighting of Judy entering the Greyhound bus station at 11th and Filbert sometime in the early afternoon. This station is a common place for tourists to use the bathroom and is only a 10-minute walk to the DoubleTree hotel. One report claims Judy was seen entering and then exiting the station but most reports mention only entering the station. This area was close to Philadelphia’s Chinatown and Jeffrey speculated that Judy may have gone to Chinatown for lunch as she loved both Chinese and Thai food, but no restaurant owners remembered seeing Judy that day.
There was yet another sighting of a woman who looked like Judy at around 3 pm near the hotel; witnesses claimed this woman seemed disoriented.
A number of sightings were reported over the next few days in the waterfront area of the city called Penn’s Landing. A variety of people claimed to have seen Judy. Some witnesses said she seemed confused or dazed. Judy’s two children, her son in law Jay, and Jeffrey looked into these sightings and discovered that there was a homeless woman in the area who looked strikingly similar to Judy and it is believed that many witnesses saw this woman rather than Judy Smith. This local resident looked so similar to Judy that at one point Judy’s son Craig crossed the street thinking he had discovered his mother, only for it to be the other woman. Police officers and volunteers stopped this woman a number of times as well.
One transient in the area, a man named David, was insistent that he saw Judy, not the other woman, on the night of April 10th in the Penn’s landing area, either resting or sleeping on the bench. He was insistent it was Judy, and not the other woman as he knew the other woman from the neighborhood. Judy’s son believes this story is credible as David was coherent and very willing to be interviewed, even though there was nothing to be gained from his testimony and he was simply happy to help the family. He also identifed Judy from a collection of photos, something many other witnesses were unable to do.
On April 11th an employee at a Macy’s department store in Deptford, New Jersey believed that she interacted with Judy Smith in the morning on that day. She described the clothes Judy wore, right down to the old red backpack. This shopper told the employee, that she was buying some dresses for her daughter but laughed because her daughter often disliked the pieces that she purchased for her. Judy’s family confirmed that this was acurate and affirmed that Judy sometimes shopped at Macy’s. The customer appeared to be slightly disoriented as she asked a young woman in the store to leave with her, thinking that the other customer was her daughter or a someone else she knew. One report says that Judy asked another customer in the store about menopause, a very odd subject to talk about, especially with someone you don’t know in a department store.
This mall complex was in Deptford, New Jersey, a bus ride away from Philadelphia, across the Delaware River. According to newspaper reports, NJ Transit Buses had routes which traveled from downtown Philly to Deptford hourly, and the stop was very close to the mall the sighting took place at, meaning it was possible for Judy to have boarded the bus and ended up in Deptford quite easily. Unfortunately, the Macy’s didn’t have security footage which showed this customer and the woman paid for her purchases in cash.
After a second story ran in the newspaper on April 14th, a variety of other witnesses came forward with stories. The most famous report came from a Society Hill hotel employee who explained that a woman who matched Judy’s description stayed in the hotel from April 13th-15th. The woman appeared to have psychiatric problems and did a variety of strange things during her stay such as touch herself very noticeably in front of the window (it’s unknown if this was in her room or in the lobby), speak in tongues, and finally claimed that “the emperor” would help her pay for her stay at the hotel. This wacky guest was remembered by several employees including the hotel manager, a woman named Abby Gainer, who alerted the police. The strange guest told the employees that she wanted to stay at the hotel for another night but didn’t have the funds to do so. She later said she would get the money via a Western Union wire transfer from “the emperor” (Altman, 1997).
The nearby Best Western Hotel had a similar situation with a similar woman. Concierge Tyrone Taylor remembered that on the 15th, a woman matching this description entered the hotel to use the telephone in the late afternoon. The woman was speaking loudly and said that “the emperor of China” was going to pay for her stay as she did not have the cash to pay for a night at the hotel. Taylor reported that the woman was well dressed and did not appear to be a transient. Both hotel employees reported that the woman was a heavyset blonde in her 50s, wearing heavy dark makeup, eye glasses with tape on the side, and nicer clothes. Gainer reported the woman was sporting an expensive looking scarf with camels and roses on it. The woman, who signed in as "H. K. Rich/Collins," did not have any luggage with her and was wearing very different clothes than Judy was last seen in. When Taylor called the police to report his sighting, he gave the strange guest a call (she must have left a telephone number) and told her she could have a free night at the hotel. She arrived at the Best Western but police decided that the woman was not Judy Smith (Altman, 1997). The hotel sightings were nothing more than a red herring. Over the next few months various sightings were reported but none seemed to pan out. Many of the sightings were believed to be other people who looked like Judy. After all history has shown that false eyewitness sightings are incredibly common in cases of missing persons.
Philadelphia PD’s investigation
Philadelphia PD launched an inquiry into the disappearance of Judy Smith on April 11th, 1997. Jeffrey tried to report Judy as missing in the late evening hours of April 10th, but the police told him to wait 24 hours. Smith, however, was a well-connected man and after a few complaints to both a Pennsylvania state representative and the mayor (both men were attorneys and knew Jeffrey from previous work functions), Jeffrey was able to file a report in the early morning hours of the 11th. The Smith family made and hung flyers in the area. Judy’s children joined the search and followed up on sightings around the tourist areas of Philly. Police interviewed Jeffrey, Judy’s children, and others in order to retrace Judy’s last steps. Judy left behind her passport at her home in Massachusetts meaning she could not have easily left the county. The Smith’s two landline records were checked but nothing out of the ordinary was found.
After interviews and searches of the area, Philadelphia PD announced that they believed Judy had never made it to Pennsylvania at all and speculated that Judy went missing from the Boston area. This speculation was based on a couple of things.
First, investigators did not believe Jeffrey’s story that Judy couldn’t catch the flight due to a lack of photo ID. Police thought that this story was odd and did not believe a seasoned traveler like Judy would forget her license at home before heading to the airport.
Later investigation showed that someone named Judith Smith took a 7:30pm flight into Philadelphia and flight manifest showed that the ticket was used to make the flight that evening, however, the entire incident is still odd to many amateur sleuths and professional investigators.
Another detective thought it was odd that while Judy had clothes and belongings in the hotel room, she didn’t have any cosmetics with her. Further, detectives noticed that there were few soiled items of clothing in the room meaning that if Judy was in Philadelphia on the 10th, she wore the same jeans and coat that she was wearing the night before. Judy’s children reported that this wasn’t uncommon for their mother as she wasn’t a frilly person. They also said that their mother only wore makeup on occasion and not while traveling so these things didn’t seem out of the ordinary to them. (Personally, I have also wondered if Judy did have some makeup, but it was in her backpack at time. I know plenty of women who don’t wear much makeup, but if you looked in their purse or bag you might find some lip stick or powder.)
Investigators went on to say that no one but Jeffrey could place Judy in Philadelphia during this time frame. This announcement resulted in several eyewitnesses who claimed that they had seen Judy at the hotel. One receptionist from the hotel claimed that on April 9th in between 9-10 pm, she saw Judy arrive at the hotel and greet her husband in the lobby. She said that Jeffrey gave Judy flowers and the two appeared to be apologizing to each other. (Jeffrey said this was the case except Judy gave him the flowers). One concierge remembered a woman in her 50s with a coat and old red backpack ask him how to get to the PHLASH bus stop at around 10 am on April 10th. He knew it was after 9 am because that is when his shift started. Finally, a conference goer named Carmen Catazone, who was sitting in the lobby also recalled the flower incident from the night before. The woman did not know Jeffrey personally, but recognized him from the conference. Jeffrey was a moderator for a variety of sessions and was very overweight so he was easily recognizable. These witness’ accounts seem to line up with Jeffrey’s story. As far as I can tell the flower story had not been released to the press at this point.
Finally, Philadelphia PD divulged that Jeffrey wasn’t fully cooperative, as he wouldn’t submit to a polygraph. Jeffrey denies this and said that as a lawyer he knew that polygraphs are fallible. Further, he claims that he was willing to take a lie detector if it was given by an outside agency such as the FBI, but Philadelphia police declined this scenario. These are the four reasons investigators used in order to prop up their theory that Judy wasn’t in Philadelphia at all. Despite witness sightings, this theory is a popular on online to this day.
Aftermath and Discovery
After several weeks Jeffrey returned to the Boston area and tried to resume his normal life. He drastically cut back his hours at the office reporting that he could not focus on his work. Smith attempted to keep his wife’s case in the spotlight doing interviews whenever he could and eventually landing a spot on the show Unsolved Mysteries. On the show, one friend of the couple called the marriage “tenuous” but modern articles on the case mention that the police could find no one who reported concerns like these about the couples’ relationship. In independent interviews Judy’s adult children denied witnessing any warning signs in their mother’s new marriage. Eventually, Jeffrey hired three private investigators to look for Judy. The PIs faxed over 9,000 missing posters to police departments and hospitals all over the country hoping that someone would recognize Judy.
Five months after her disappearance in September 1997, a man and his son were hunting in the Pisgah National Forest near Candler, North Carolina, a short drive from the city of Asheville. On a steep incline one-quarter mile from a picnic area, which itself was a mile from hike from the nearest parking area, the duo found what appeared to be a human bone. They alerted the police who responded to the scene. Over an area approximately 300 feet in diameter, investigators found most of a human skeleton which had been wrapped in a blue blanket and buried in a very shallow grave. Scavenging animals had dug up the skeleton and a few bones had been carried away. The skeleton was determined to be female. The woman was dressed in thermal underwear under her jeans, hiking boots, socks, a t-shirt, a bra and a jacket. Nearby in two different holes, a blue vinyl backpack and a men’s shirt had been buried. The backpack contained some winter clothing and 80 dollars. The shirt contained a pair of $110 Bolle brand sunglasses, as well an additional $87. A paperback mystery novel was also found nearby. She carried no ID. The slope where the body was discovered was near some hiking trails, but the hill itself was steep and at an elevation of 4,000 feet, the search was difficult. The incline was so severe that one investigator crushed his sciatic nerve attempting to search the area, an injury which required major surgery.
Early coverage of the body’s discovery in the Asheville Citizen Times, initially reported that the police found a body belonging to a woman who they believed to be in her 20s dressed in hiking clothes (Ball, 1997). Several days later, the medical examiner assessed the bones and concluded that the skeleton was that of white woman in her 40s or 50s, who was about 5’3” tall with shortish light brown hair. There were cut marks in the woman’s bra and t-shirt which indicated that she had been stabbed in the chest area, however, no cause of death could be determined. Some reports mention that there was trauma to the woman’s ribs. The decedent also had a severely arthritic right knee (some reports say it was her left knee), extensive fillings and dental work in her molars, and some animal hair on her shirt, which may have been horse hair. The woman did not seem to be a transient due to her nice clothes and dental work. The death was ruled a homicide as the woman had been wrapped in a blanket post mortem and buried. The ME determined that the body had been there for 1-2 years prior. For several weeks the skeleton remained nameless in the ME’s office.
On September 9th, a small blurb about the unidentified body ran in an Asheville, North Carolina paper. 65 miles away in Franklin, NC, an ER physician named Parker Davis was looking at missing poster which had been faxed to the hospital he worked at when he noticed that the woman on the poster had a severely arthritic knee. He remembered the story of the skeleton from the paper who had a similar knee problem. On a whim he called the police who were able to get a copy of Judy’s missing poster. After a preliminary check, the ME contacted Jeffrey in order to obtain a copy of Judy’s dental records. The records were a match, and by the end of September 1997, Judy had her name back. Friends and family were also able to identify Judy’s diamond engagement band with a pear-shaped stone and wedding ring which had been found on or near the body. Some early reports say that the woman had no jewelry and that Judy’s wedding ring was missing, but later reports say that it was found near the body. The area of the burial was searched on at least three occasions so it is possible the rings were not found until later. Missing was Judy’s wallet, red backpack, and some jewelry that she typically wore (it’s unclear what jewelry this is referring to). The coat she was last seen wearing was nowhere to be found and the clothes she was dressed in, as well as those in the backpack were unable to be identified by family or friends. The shirt buried nearby was a men’s shirt and was believed to belong to the killer, not Judy. Furthermore, the sunglasses did not appear to be Judy’s as Judy’s kids said she wasn’t the type to spend over $100 on sunglasses. The sunglasses are an athletic style and to me look like men’s or unisex sport sunglasses.
Buncombe County Investigation
Buncombe County Sheriff’s Department took over the case from the PPD after Judy’s identification. Once it was determined that Judy was the woman in the woods, several residents in and around Asheville reported that they had seen Judy or had interacted with her in the April shortly after she was last seen in Philadelphia. For example, one woman thought Judy had stayed at her hotel from April 10th-12th, one woman who worked at a souvenir shop near the Biltmore house (a tourist attraction near Asheville) thought that she spoke to Judy who said she was from Boston and that her husband was a lawyer. Another woman who worked in a store recalled that Judy with her red backpack. She claims that Judy bought a toy truck and approximately $30 worth of sandwiches. There were two other sightings of a person resembling Judy in the area in a gray sedan. One person claimed to have seen Judy near the Pisgah National Forest in a gray sedan chock full of stuff. This witness said that the woman was looking for a place to camp. Another person saw a woman in a gray sedan in the same area. All sightings occurred in the week or so after Judy was last seen in Philadelphia. Of course, it goes without saying that, eyewitness testimony can be unreliable and the human mind is susceptible to suggestion.
North Carolina investigators traveled to Philadelphia to retrace Judy’s steps. They have said that they don’t believe that PPD did a poor job but simply wanted to cover their bases. Two detectives flew to Philadelphia and determined that Judy probably been there at least briefly before traveling to the Pisgah National Forest. They reported that there was no indication that Judy had been abducted or otherwise forced to travel south. It appeared she at least started the journey of her own volition. In all the sightings of Judy in North Carolina, she was alone.
Buncombe county deputies were able to rule out Jeffrey as a suspect rather quickly, although they concede that anything is possible and Jeffrey could be involved however unlikely it seems. Jeffrey was ruled out based on his size and health. Jeffrey was a morbidly obese man who investigators noted began huffing and puffing when walking quickly or climbing stairs. Because of this they did not believe Jeffrey could have disposed of his wife’s body especially in such an inaccessible area of the forest. Furthermore, they could find no evidence that Jeffrey rented a car in Philadelphia adding to the logistical problems with Jeffrey being a suspect. On top of his lack of car, Jeffrey had less than 12 hours to dispose of Judy’s body as he was seen in the lobby of the hotel at 9:30 pm, and then was moderating a session of the conference at 9:30 am. Driving to the Pisgah National Forest from Philadelphia takes approximately nine hours one way meaning he did not have time to kill and dispose of his wife. One podcast on the case mentions that police could find no large withdrawals of money from the Smith’s accounts which could have indicated the hiring of a hit man or a paid accomplice. (I could find no other corroboration of this claim so take this with a grain of salt.) Jeffrey also kept his wife’s case in the spotlight and suffered many hardships in the wake of his wife’s disappearance. Besides the one woman who was interviewed on Unsolved Mysteries, no other friends or family reported that there were issues in marriage that they were aware of.
Philadelphia police also struggled with Jeffrey’s size as carrying and disposing of a dead body is quite taxing and it is doubtful that Jeffrey could have done this on his own. However, they say that Jeffrey is still as suspect as he could have killed his wife in Boston or had an accomplice.
With the most obvious suspect cleared, investigators moved on to other lines of inquiry. They searched the surrounding areas hoping to find people who had seen Judy which is how the discovery of the woman in the gray car was made. Police also searched a nearby horse farm as Judy was known to like horses and had what could have been horse hair on her body, but nothing definitive was found.
Other information

Philadelphia investigators looked at the Smith’s phone records and determined that there was no unusual activity on either of their phone lines that would indicate that either of the Smiths were having affairs. Neither Jeffrey or Judy had cell phones. If Judy was having an affair at the time, none of her friends could provide any insight or speculate as to who it was. There was a computer in the house which was searched, but it is unknown if the computer was connected to the internet.
When Judy went missing Jeffrey believed that she had approximately $200 on her person. About $500 dollars in cash was found among Judy’s things in the hotel room. Judy also disappeared with her ID, her credit card, and her phone card. To this day, there has been no activity on either card.
Judy’s description varies from source to source. Some sources report that she was “heavy set” or “top heavy”. Others say she was 130 or 140 lbs., which is more average size for a 5’2” woman. In some pictures Judy looks to be of a larger build, but in some photos, she appears smaller. Whether these weights were a misprint or Judy was someone whose weight fluctuated regularly is unclear. It is not a very important detail but it is a discrepancy I wanted to point out.
Judy had been to North Carolina only once and had no connection to the area. She had once been to Raleigh to visit Jeffrey who was at a weight loss clinic. Jeffrey said that he loved the area and thought about moving, but the couple never returned to the state. Family also said that Judy had once traveled to Tennessee or another nearby state with a former patient but that had been years earlier.
Judy Smith is also the name of a famous "Crisis Manager." This Judy Smith was the inspiration for the hit show "Scandal" with actress Kerry Washington. This woman is not the same Judy Smith who went missing in 1997.

Suspects
Gary Michael Hilton, sometimes called the national park killer, is a suspect in Judy's disappearance. In 2008 Hilton was arrested for a murder in a national forest and was later linked to three other murders, all of which took place between 2005 and 2008. Hilton, who was in his 50s and 60s at the time, killed hikers in Florida, Georgia, and North Carolina and he is considered a suspect in many other murders in surrounding states such as Arkansas, South Carolina, and Tennessee. Hilton, who loved the outdoors, would often stalk hiking trails, camp sites, and other areas known for outdoor recreation to find victims to terrorize. His crimes were tended to be opportunistic and his motive most often was monetary. Hilton held down a series of jobs from 1997 to 2007 but did not work full time. He was also a drifter who moved from place to place. Hilton usually assaulted and robbed his victims of their wallets, atm cards, cash, and valuables. His victims were male and female, young and old. He seemed to prefer victims who were isolated and alone did not try to find a specific type of person otherwise. One thing that is interesting about Hilton as an offender is that it appears that he did not commit any violent crimes before he was 58 or 59 years old. Hilton has a very long rap sheet but most of his crimes were relatively minor such as possession of marijuana, carrying a pistol without a license, soliciting false donations for charity, carrying a police baton, and DUI. Once arrested several violent incidents that Hilton had been a part of came to light but he had never been convicted of them in the past. Most people agree someone with does not start a life of violent crime in their 60s. Many believe the Gary Michael Hilton has more victims then are currently known.
John and Irene Bryant, an eclectic couple in their 80s, were hiking in the Pisgah National Forest in 2007 when they were attacked by Hilton. Hilton killed Irene, and then kidnapped her husband in order to use their ATM cards and withdraw money before killing John as well. Irene's body was left only miles from where Judy's body was found 10 years earlier. This is one of the most convincing pieces of evidence that Hilton may have been involved in Judy's murder as well. However, it is important to note that Judy was not robbed and Hilton did not bury any of his known victims. Judy's murder also took place 10 years before any Hilton's other murders. Some blogs or more unofficial sources on the case mentioned that Hilton was believed to be in Georgia at the time of Judy's disappearance, but this isn't known for sure. If you are interested in learning more about the crimes of Gary Michael Hilton this reddit post is a really good place to start. This post did a good job of putting it all in one place so thank you u/lisagreenhouse.
Another offender who was in the Asheville area at the time of Judy's disappearance was a young man named Lewis Kyle Wilson. In the early 2000s Wilson was arrested after assaulting and robbing a sex worker he had brought home to his property. There's not a lot of information on Wilson online, but he was living in Asheville and would have been 19 at the time of Judy's disappearance. I cannot find any evidence that Wilson actually killed anyone but he does have a history of violence towards women and was in the area at the time so he is sometimes mentioned online as a possible suspect. One sex worker Wilson was known to frequent was the victim of an unsolved homicide that happened in 2006; Wilson is the prime suspect in that crime.
In 2016, only a couple of miles from Judy's burial site in the Pisgah National Forest, a lone hiker in her 60s was attacked, raped, and left tied to a tree. Thankfully, the woman was found alive and taken to the hospital. Some have wondered if this crime was connected to the Judy Smith homicide but there is no hard evidence of this and the rapist remains unknown.
Theories
Amnesia is one possible explanation for Judy’s disappearance. The family believes that Judy was injured or otherwise suffered a bout of dissociative amnesia which caused her to become confused or forget her identity. This is supported by the sightings of a confused or disoriented Judy in Philadelphia. The family believes this explains why Judy traveled to the Pisgah National Forest apparently of her own free will.
One theory is that Judy and Jeffrey had an argument that spurred an angry Judy to leave the area, whether she left from Boston or Philadelphia. After she left the area and traveled south to North Carolina, she met with foul play.
In a similar vein, some believed Judy willingly traveled to North Carolina to meet up with someone, perhaps a friend or a secret boyfriend. The ID incident at the airport was simply a cover so Judy could converse with this person who she wanted to meet. Once in North Carolina she met with foul play perhaps at the hand of the person she went to meet.
One theory Jeffrey explored was that Judy was suffering from mental illness and had a psychotic break. Being a lawyer, Jeffrey was able with some legal maneuvering to obtain all of Judy’s medical records from her adult life, including a physical she had had only months before hand. There was no indication that Judy had ever had any mental health concerns. Neither she or her doctors ever mentioned anything that would have pointed to any mental health problems, even minor ones such as anxiety. According to Jeffrey, Judy’s newest physical reported that Judy was in good mental and physical health (Lewis, 1997 and Trace Evidence Podcast).
Other sleuths have speculated that Judy traveled to North Carolina because she was questioning her sexuality. Asheville at the time was known for having an LGBT community. This theory is pushed forward by one interview on the Unsolved Mysteries segment as Judy’s friend says, “If you are looking for a mystery man, there wasn’t one.” Some have said that this implied that Judy had met a mystery woman, not a man. However, this theory is full of holes. No friends or family ever had any indication that Judy was questioning her sexuality. Judy had been married to men on three occasions and had other boyfriends as well. This explanation fails to explain why this realization would cause Judy to unexpectedly travel hundreds of miles and cease contact with her children. It also fails to explain who killed Judy.
Others have speculated that Judy was tricked into going to North Carolina. Perhaps she met someone while sightseeing who offered her a ride and that person abducted her or drove her to North Carolina for some reason.
Personally, I have always wondered if Judy was suffering from early onset dementia or Alzheimer’s disease. This would be a similar theory to the psychotic break theory; however, I believe this explains why Judy was described as both disoriented and acting normal in different sightings. I am by no means an expert, but if I understand correctly, patients with these conditions can get very confused and agitated but can also have times of acting completely lucid. I think this theory can explain why Judy forgot her license at home before flying, and can also explain her disappearance. I think it is possible Judy got on the wrong bus and ended up first at the Deptford mall and then eventually North Carolina, simply getting more and more lost each day. Of course, this hypothesis does not solve Judy’s murder, it simply gives an explanation for her travels.
A final theory that is prevalent online is the idea that the doe found in Pisgah National Forest was not Judy at all and was instead misidentified. While this is always possible and something I have entertained from time to time, Judy was matched via dental records, her arthritic knee, and her distinct engagement ring with a pear-shaped stone. If the doe was not Judy, then the mystery becomes even stranger, and now includes the identity and murder of yet another woman. While the odds of a similarly aged woman, with a bad knee, similar dental work, and a plain silver wedding band accompanied with a fancy diamond engagement ring, who was not Judy being murdered in the forest is possible, I believe that it is not very likely. Proponents of this theory point to the ME’s report that the doe had been in the forest for over a year, while Judy had been missing only five months at the time of her discovery.
TO BE CONTINUED...
Full list of sources are in part two- https://unsolved.com/gallery/judy-smith/
link to part 2 https://www.reddit.com/UnresolvedMysteries/comments/kky2l2/when_a_body_is_found_600_miles_away_extensive_two/

odds money line explained video

A Money Line or straight up wager is a bet on the outright winner of the game or event, without any point spread odds. A Money Line better doesn't have to worry about a team winning or losing by a certain number of points. Oddsmakers still determine a favorite and an underdog by the overall strength of the competitor, but the odds given are based on the amount of money that needs to be put up in order to place the bet. Example: The bettor will receive odds that resemble these: Colts –140 Sports Betting Explained | Sportsbook Guide. If you are new to sports betting, there are a few things you should know before you place your first bet, the most important of which is the difference between spread betting and money line betting, which are the two most popular types of bets that are placed on sporting events. Here is a quick breakdown of both types of bets. Money Line Betting Although the Money Line is different to the Handicap market, there is a clear correlation between the two. The higher the Handicap mark is on the favourite, the more likely they are to win. This means the higher the Handicap is, the shorter the Money Line odds will be on the favourite (meaning the odds on the underdog will be bigger). Moneyline odds are based on a $100 wager, with the favorites getting a negative number (-) and the underdogs getting a positive number (+). A favorite at -140 moneyline odds means a $140 winning wager wins you $100 in profit. An underdog at +140 moneyline odds means a $100 winner nets you $140 in profit. The higher the number the more likely the team is expected to lose in the eyes of the oddsmakers. The number also indicates how much money would win in comparison to every $100 you wager. For... Whilst the spread bet is on a team to win and by how many, the money line is a bet on simply a team to win. Money Line – How it Works. Here is a typical money line for a game in the NFL: Green Bay Packers +180 Pittsburgh Steelers -200. When a sportsbook sets a money line, they’ll base the odds on the probability of a team winning the game, and in the majority of cases one team will be favored (unless the teams cannot be split). In the above game, the sports-book has decided that the As one of the simplest forms of odds, money lines can easily be read by bettors when they take straight odds. Moneylines are typically used for a two-way outcome, sometimes three. To read these odds, punters can simply check which team has a negative number and a positive number. For example, if Team C has odds of -120 and Team D has odds of +150. Simply put, a moneyline tells you how much you have to wager in order to make a profit of $100. Consider a hypothetical baseball game between the Chicago Cubs and the Los Angeles Dodgers. When looking at the moneyline for the game, a bettor will see something like this: Chicago Cubs +120. Los Angeles Dodgers -130. Bettors often like picking underdogs because they are usually “plus” money. This side of the moneyline bet pays out more money per unit than a wager on the favorite. In this example, the moneyline on the favorite Chiefs was -156. At -156 odds, a bettor would need to wager $156 to win $100. Since the favorite is considered the team with the better chance to win, a winning wager will usually pay out less than the original amount wagered. Moneyline Betting Odds Explained. One of the most common types of sports betting lines when wagering on a game is the moneyline. You will see moneyline odds for every game and every sport played for the most part. While some games that have a very large spread but stray away from offering a moneyline, it is still one of the most popular styles of betting. A moneyline is a type of straight wager where the bettor wagers simply on who will win the contest, straight up – without any spread

How a Moneyline Works in Sports Betting

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When a body is found 600 miles away... Extensive two part write up on the bizarre case of Judy Smith (1997). Part 1 of 2.

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