[NA]Gamestock[NA]

Bubbles about to burst.
 
considered jumping in yesterday when it hit 78 or so. I know, I suck.
 
eman1200 said:
considered jumping in yesterday when it hit 78 or so. I know, I suck.
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I watched it from $94-$147 this afternoon and had an order in the queue ready to fire off and I just couldn’t bring myself to pull the trigger on it. I suck just as much!
 
all my money is on EMAN right now WOOHOOO. since 9/28/2020:

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Wish I had been in. I only trade options and don't chase. That said I did catch other smaller runners and happy with my profits. I daytrade or short-term swing trades
 
Trading today is about charts and/or momentum. I only trade charts, nothing else. I don't even know what some of the companies do that I trade but I mainly stick to the popular 'FANG' stocks like APPL, FB, TSLA, ROKU, AMZN, etc. I did trade WKHS yesterday but had no idea what it was before I got in.
 
optionizerSS said:
Wish I had been in. I only trade options and don't chase. That said I did catch other smaller runners and happy with my profits. I daytrade or short-term swing trades
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There's a reddit thread where they pumped this and one guy bought 50k worth of options. He has made several million so far.
 
Well, I'd imagine the people that will take a bath on this one will be those running it up. Unfortunately I think those people are probably the ones who can least afford it. The hedge funds can take a bath and live to play another day. People on reddit dropping rent money on it even though the financials don't support the valuation are going to feel it.
 
SoonerAviator said:
Well, I'd imagine the people that will take a bath on this one will be those running it up. Unfortunately I think those people are probably the ones who can least afford it. The hedge funds can take a bath and live to play another day. People on reddit dropping rent money on it even though the financials don't support the valuation are going to feel it.
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From the sounds of it, a lot of them got in early and pushed it. It could drop 50% and they would all still be OK. My brother told me to buy at $20. I didn't buy any.
 
Reddit switched the WallStreetBets group to invite only and Discord banned them claiming “repetitive hate speech warnings”, which I suppose one would assume were standard internet stuff like “eat the rich”.

So much for using the new and “edgy” social media platforms for the average Joe or Jane to organize on. Hmm. Guess we know who their outstanding debts are owed to.

https://www.cnet.com/news/amc-games...s-trades-as-reddits-wallstreetbets-is-locked/

The Massachusetts Secretary of State apparently is losing big money or someone in Mass was about to... proposing a 30 day halt in trading.

How a State Secretary of State is involved is beyond me. Follow the money if you dare.

I chuckled at the “protecting unsophisticated investors” schtick though. It’s the unsophisticated ones hammering the hedge funds on this one who are usually the folks who are unprotected from the hedge funds ripping them off. LOL.

https://www.boston.com/news/business/2021/01/27/bill-galvin-gamestop-trading-halt
 
I bought a few call options on NOK the other day. Still holding one contract and was up almost 300% on it. At this point it's a freebie but I won't let it go negative on me. This morning when I logged onto my thinkorswim I was down about $800. At the end of the day I was up $575. Very nice turnaround. I held QQQ puts overnight and sold them for about $300 profit and been holding JKS calls for a week and sold those today for 60% win. Bought QQQ puts again at the close so hoping for a big drop overnight then let 'er rip after that...lol.

I have been daytrading for about 6 or 7 years and built a new system with 4 monitors this summer. My plan is to 'retire' and trade full-time in a few years.
 
I'm not much of a day trader, I don't have the time to give the market the attention it deserves for that. I didn't buy in because I didn't trust myself to sell it where it needed to... Obviously regretting that now. Silly hindsight.
 
denverpilot said:
Reddit switched the WallStreetBets group to invite only and Discord banned them claiming “repetitive hate speech warnings”, which I suppose one would assume were standard internet stuff like “eat the rich”.

So much for using the new and “edgy” social media platforms for the average Joe or Jane to organize on. Hmm. Guess we know who their outstanding debts are owed to.
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It’s back open again. They only made WSB private for a short time. The show continues!
 
And this isn't a Chinese attack on our financial system, how?
 
There is also some looking into whether the reddit postings are market manipulation, which is illegal.
 
wayne said:
There is also some looking into whether the reddit postings are market manipulation, which is illegal.
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As if analysts don’t manipulate the market with their bogus sell/buy ratings for their own gain. The SEC should look into that, but of course that’s the Big Money on the street and they can’t do any wrong, so they get a free pass. The Big Money will always be protected. :mad:
 
Mtns2Skies said:
I'm not much of a day trader, I don't have the time to give the market the attention it deserves for that.
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I firmly believe that no amount of attention will permit day traders to profit long term, once transaction costs are figured in. Lest I be regaled with anecdotes, yes, some day traders may manage profits - even in a pure random walk scenario, about half of the traders will guess right on any given trade. And don’t get me started on Technical Analysis.

Anyway, good book with careful analysis, and a passage from it. Worth checking out.

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RyanB said:
As if analysts don’t manipulate the market with their bogus sell/buy ratings for their own gain. The SEC should look into that, but of course that’s the Big Money on the street and they can’t do any wrong, so they get a free pass. The Big Money will always be protected. :mad:
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"Market manipulation is only legal when you contribute to our campaign funds."

These firms that short or go long and then say they expect the stock to go the appropriate direction should lose their licenses to trade. Now the whispers are than any stock that gets mentioned in that subreddit will get halted trading. Queue r/maliciouscompliance
 
dtuuri said:
And this isn't a Chinese attack on our financial system, how?
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The redditors aren't chinese. They are a bunch of Gen-Z (or younger) people who are fighting the (corrupt) system, but doing exactly what is considered legal if you are throwing millions/billions at a stock as a single entity, but illegal if it's a collaborative effort to move the same amount of shares.

edited for spelling
 
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There is investing and there is speculating. Both have their place, but require radically different approaches. Investing is focused on not losing money while making a reasonable gain. Speculating is putting a small amount of money at risk of loss in exchange for an opportunity for an outsize return. If the Reddit group speculated with their Starbucks money, more power to them. If their rent money...
 
EdFred said:
"Market manipulation is only legal when you contribute to our campaign funds."

These firms that short or go long and then say they expect the stock to go the appropriate direction should lose their licenses to trade. Now the whispers are than any stock that gets mentioned in that subreddit will get halted trading. Queue r/maliciouscompliance
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I have found Gen Y/Z (my kids) have much longer memories than my generation (Gen X) with what politicians do. All of my kids have made comments raising issues from years ago.
If politicians do something that stupid, they likely will have a short career as these kids get older.

Also, these groups are much more tech friendly, and are more likely to find a new outlet faster then us old coots can keep up, and there are also enough lawyers in that group to really file and give the SEC and others massive headaches. They will likely get buried in paperwork.

I expect a lot of noise, but no action as a result of these two points.

What I want to see, if you own options, you and/or your company are not allowed to publicly discuss said stock/industry. This would take away the ability of people to "move the market" and make a profit.

Tim
 
I had it last year and sold it because it was a nonperformer. Gamestop is still a non-performer, so their stock is going to come back down. If you still have it, sell on the open and don't be greedy.

Lots of people losing (and making) money on this, but most of it is changing hands within a fairly small group of professional traders and funds. A subset is bleeding out to common traders as they sell so people can cover shorts, but by and large the money is just changing hands between funds.
 
falconkidding said:
Lol gamestop is proof that the stock market has nothing to do with performance.
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Valuation doesn’t matter when interest rates are low, which is why we’re seeing stock prices with extremely high multiples. Once the economic environment gets back to normal conditions, performance will matter again.
 
RyanB said:
Valuation doesn’t matter when interest rates are low, which is why we’re seeing stock prices with extremely high multiples. Once the economic environment gets back to normal conditions, performance will matter again.
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Bingo. Bring back the bank accounts that pay 5% interest, get the mortgage rates back up in the 8-9% range and settle the volatility of the stock market and housing market.
 
EdFred said:
Bingo. Bring back the bank accounts that pay 5% interest, get the mortgage rates back up in the 8-9% range and settle the volatility of the stock market and housing market.
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Won't happen, they want people in the market, how else to shear the sheep?
 
1. I have heard that a safe way to profit from tulip-mania would have been to sell half every time it doubled.

2. If I buy, that will be time to sell everything.
 
dtuuri said:
And this isn't a Chinese attack on our financial system, how?
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Because a) it’s GameStop. A failing business that institutional investors were allowed to naked short to anywhere from 120%-140% of available shares. That’s all public record.

tspear said:
I have found Gen Y/Z (my kids) have much longer memories than my generation (Gen X) with what politicians do. All of my kids have made comments raising issues from years ago.
If politicians do something that stupid, they likely will have a short career as these kids get older.
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I’m squarely an X Gen person and can list off what the politicians have done in my entire lifetime and think they’re all scum-sucking azz hats.

Meanwhile those kids will do exactly what X will do. Wait around for the half a century establishment group (who just got voted back in again...) to die. Then we’ll start believing the next round of untrustworthy humans with no skills and who’ve never contributed anything real to society.

That pattern hasn’t changed since long before this place was a country. Always a good belly laugh when someone says a new generation will fix it.

That is exactly how the hippies older than dirt that are there today, and enjoyed making themselves rich doing “service” jobs for 50 years, got there.

Wasn’t that long ago they allowed themselves to insider trade until someone finally realized how wrong that was and used it as election season fodder. They enjoyed that privilege none of the rest of us had for a couple decades longer than they banned us from doing it.

They’ll always find a way to line their pockets. Doesn’t matter what we “remember”. They just call it a “great bi-partisan idea!” when it benefits them.
 
I'm really disappointed in TDA's response to this. Throw up the bowling gutter guards? On everyone? I've already done my disclaimers to trade options, why are they blocking me out of trading a stock?

Somehow I doubt this will get any scrutiny.
 
schmookeeg said:
I'm really disappointed in TDA's response to this. Throw up the bowling gutter guards? On everyone? I've already done my disclaimers to trade options, why are they blocking me out of trading a stock?

Somehow I doubt this will get any scrutiny.
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Robinhood halted trading on like 8 stocks. I had 1 of them, I was allowed to sell, but not allowed to buy. I sold half to cover my investment, now it's all profit - and it's back down to what I bought at 2 weeks ago.
 
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I used to lose some money in stocks always picking losers consistently. And then I realize that financially I’d be better off if I told my wife to go get a job and telling my daughter that she has to pay for college on her own so she needs to pick a degree that will actually pay. I’m much better now. All of my friends who paid everything for the kids college education, regret it now.
 
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