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Stock Market 2021

Fullsize80cherokee said:
Cliffs on the GameStop thing?
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About 1 millions people with a couple thousand in their robin hood account are buying the stock to jump on a bandwagon. They are all confident and greedy because one guy is showing a $22m profit on a $50k bet, and want the same. It exactly the same as the HOLD encouragement on the bitcoin forums. Tell everyone you will hold forever to encourage people to buy, so you can dump.

Aka its the pump and dump.
 
I've been reading about the reddit guy. He dropped that $50k in 2019, and was called an idiot for investing in a company about to go under. He held through basically a 50% loss, and then won the lottery when reddit decided to pump GME a year and a half later. He continued to hold when making $1m, 2m, 9m, and today $22m. The stock will likely hit $300 tomorrow, and he'll be worth $44m. His current option hold is calls (1000x100) that cost $.33 and are worth $134 at close today. He also bought the stock with some of the realized winnings from last year.

Basically, the odds of this happening are similar to winning the big lottery last week. Any sane trader would have sold the positions long ago. Same thing with bitcoin. Very very few people held from $1 to $30,000. They sold at $5 for big gain.
 
Fucking VOO ETF is still pumping... Loaded up on the defense sector; back orders are huge and the Rona thingy is falling flat!
 
boardbysled said:
https://www.youtube.com/watch?v=4EUbJcGoYQ4

Good video for the GME situation for you other smooth-brains like me haha.

Wish I would have gotten involved more seriously last Wednesday when the first rumblings of this started really kicking off.
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I don't. I'm staying wayyyyyyyy the fuck away from that shit. Its emotional trading and is devoid of any logic or reason about the companies financials or well being.

its wholly unpredictable and volatile. Fuck that.
 
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One of my coworkers was telling me about it a couple months ago. I laughed, but he bought in at around 12. When it first kicked off to 20ish he had a set sell order and was out. He has been in and out a few more times with the last jump in at 70. I dont know for sure, but i am guessing he is still sitting on 1k+ shares. Yesterday when i left work he was up well over 150k, talked to him after hours and was up 200k plus. Hopefully he has good timing.

Me on the other hand bought a couple hundred shares at 40 and jumped out quick. Did some quick trades monday around 85-92 range and pulled 2600. Then the greed set in when it took off and i bought in at 138 and 145. The big guys jacked up the margin requirements on me and everyone else and it tanked. Lost half my money in 15 min. Thought i was fucked. Got it all back plus 2k yesterday. After i was out it kept going, and is at 247 right now.
 
jpmassey said:
I've been reading about the reddit guy. He dropped that $50k in 2019, and was called an idiot for investing in a company about to go under. He held through basically a 50% loss, and then won the lottery when reddit decided to pump GME a year and a half later. He continued to hold when making $1m, 2m, 9m, and today $22m. The stock will likely hit $300 tomorrow, and he'll be worth $44m. His current option hold is calls (1000x100) that cost $.33 and are worth $134 at close today. He also bought the stock with some of the realized winnings from last year.

Basically, the odds of this happening are similar to winning the big lottery last week. Any sane trader would have sold the positions long ago. Same thing with bitcoin. Very very few people held from $1 to $30,000. They sold at $5 for big gain.
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this makes me feel a little better about "missing out" on this

though now AMC is hurting me. Was close to throwing in $5k last week when I saw they weren't declaring bankrupcy, figuring it'd go up some. now it's getting the same short play as GME
 
budget76 said:
this makes me feel a little better about "missing out" on this

though now AMC is hurting me. Was close to throwing in $5k last week when I saw they weren't declaring bankrupcy, figuring it'd go up some. now it's getting the same short play as GME
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My AMC is doin good today :smokin: we'll see if it holds.
 
I wish I understood just the minute bit about stocks to understand what this whole GameStop thing is about. :homer: :laughing:
 
The gamestop thing exposes how retarded the market really is. The whole thing can be upended by a reddit mob looking to prove a point.
 
Harry Johnson said:
The gamestop thing exposes how retarded the market really is. The whole thing can be upended by a reddit mob looking to prove a point.
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Yep, this isn't good for the market. Rational people are going to start pulling money because it is clearly a pyramid scheme.
 
Back in the 80s this shit was called market manipulation and people went to jail. Now, it's "community organizing"? Or "wealth redistribution"? Absolute insanity.
 
I'm sick to my stomach today. Bought AMC at 2.88 and sold at 4.80 last year around Thanksgiving. Then, bought 1500 shares at 2.00 three weeks ago and sold at 2.38 a week later because of the bankruptcy talk, plus I wanted to invest in the WOOF IPO. $24,000 just slipped through my hands. :barf:
 
The puts are just stupid. Massive gaps between bid and ask, and premiums that are nearing the strike price!
 
GarScramb said:
Back in the 80s this shit was called market manipulation and people went to jail. Now, it's "community organizing"? Or "wealth redistribution"? Absolute insanity.
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yeah.....that's why i'll be amazed if there isn't somebody who gets visited by an alphabet group or two over this.
 
budget76 said:
this makes me feel a little better about "missing out" on this

though now AMC is hurting me. Was close to throwing in $5k last week when I saw they weren't declaring bankrupcy, figuring it'd go up some. now it's getting the same short play as GME
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so the young guy new hire at my work came in and asked us if we'd heard about this. I had GME up on the screen and he mentioned AMC. So we agreed to buy 1 AMC stock and good bad or ugly, it will be sold on Friday to see how it does :laughing: $13.75 down the drain, or possibly early retirement for me! :flipoff2:
 
jpmassey said:
I'm just saying it not illegal.
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halting trading during open hours on this account for a couple days in a row over suspicions would kill massive amounts of internet emotion :laughing:

of course, very little posted on social media is illegal and there are FBI raids going on over it all. so, illegal is a fuzzy line
 
Harry Johnson said:
but mah freedoms!@ :flipoff2:
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i'm really enjoying the comedy of this. I just hope not too many people get burned for money they can't afford to lose for playing along. it always happens and it's always sad, if nobody kills themselves once gamestop buys out Microsoft (or goes bankrupt YOLO) then it will all be a good day.
 
Provience said:
i'm really enjoying the comedy of this. I just hope not too many people get burned for money they can't afford to lose for playing along. it always happens and it's always sad, if nobody kills themselves once gamestop buys out Microsoft (or goes bankrupt YOLO) then it will all be a good day.
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:lmao::lmao::lmao:
Social media 2020: "Lets flip politics on it's head!"
Social media 2021: "Lets flip stonks on it's head!" aka "Fuck your hedge fund"
 
Why did I sell my 1000 shares of EXPR at $1.28 last month?
It's not even bikini season yet? :homer:
 
I pulled all of my money out of the market except for a few pot stocks that I'm going to ride for a while. I've been reading Benjamin Graham's Intelligent Investor and realized that I am doing this shit exactly wrong. Imma regroup and start actually investing instead of speculating.
 
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