[NA]Gamestock[NA]

Discussion in 'Hangar Talk' started by Let'sgoflying!, Jan 26, 2021.

  1. Let'sgoflying!

    Let'sgoflying! Touchdown! Greaser! PoA Supporter

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  2. wrbix

    wrbix Pattern Altitude

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    Bubbles about to burst.
     
  3. eman1200

    eman1200 Touchdown! Greaser!

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    considered jumping in yesterday when it hit 78 or so. I know, I suck.
     
  4. RyanB

    RyanB Administrator Management Council Member PoA Supporter

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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!
     
  5. eman1200

    eman1200 Touchdown! Greaser!

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    all my money is on EMAN right now WOOHOOO. since 9/28/2020:

    upload_2021-1-26_18-33-46.png
     
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  6. RyanB

    RyanB Administrator Management Council Member PoA Supporter

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    I’m bullish on that name! ;)
     
  7. optionizerSS

    optionizerSS Pre-takeoff checklist

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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
     
  8. falconkidding

    falconkidding Line Up and Wait

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    Lol gamestop is proof that the stock market has nothing to do with performance.
     
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  9. optionizerSS

    optionizerSS Pre-takeoff checklist

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    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.
     
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  10. BrianNC

    BrianNC En-Route

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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.
     
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  11. denverpilot

    denverpilot Tied Down PoA Supporter

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    Louis thinks it’s funny the institutional shorts are being screwed by others holding all the shares so they can’t get out.

     
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  12. GRG55

    GRG55 Final Approach

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    Somehow I think this thread title should have started with "Talk Me Out of Buying..."
     
  13. SoonerAviator

    SoonerAviator Final Approach

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    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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  14. EdFred

    EdFred Taxi to Parking

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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.
     
  15. BrianNC

    BrianNC En-Route

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  16. hindsight2020

    hindsight2020 Final Approach

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    good on 'em [redittors]. This whole charade of a system needs lampooning publicly. "Regulations for thee, but not for me". Watch Melvin squirm, and begging for bailouts from their cronies, unreal. Ditto for the CNBC/MSM hacks pearl-clutching. Hoo boy.
     
  17. denverpilot

    denverpilot Tied Down PoA Supporter

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    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
     
  18. optionizerSS

    optionizerSS Pre-takeoff checklist

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    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.
     
  19. tspear

    tspear En-Route

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    First the CNBC and others tell new investors that stock investing is like gambling. You can lose everything. Then they complain that investing is treated like a game? Gambling is a game. Very hypocritical.

    Tim

    Sent from my HD1907 using Tapatalk
     
  20. Mtns2Skies

    Mtns2Skies En-Route

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    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.
     
  21. RyanB

    RyanB Administrator Management Council Member PoA Supporter

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    It’s back open again. They only made WSB private for a short time. The show continues!
     
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  22. dtuuri

    dtuuri En-Route

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    And this isn't a Chinese attack on our financial system, how?
     
  23. wayne

    wayne Pattern Altitude

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    There is also some looking into whether the reddit postings are market manipulation, which is illegal.
     
  24. RyanB

    RyanB Administrator Management Council Member PoA Supporter

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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:
     
  25. FastEddieB

    FastEddieB Touchdown! Greaser!

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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.

    [​IMG]

    [​IMG]
     
  26. EdFred

    EdFred Taxi to Parking

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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
     
  27. EdFred

    EdFred Taxi to Parking

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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
     
    Last edited: Jan 28, 2021
  28. ebetancourt

    ebetancourt Line Up and Wait

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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...
     
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  29. tspear

    tspear En-Route

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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
     
  30. bflynn

    bflynn Final Approach

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    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.
     
  31. RyanB

    RyanB Administrator Management Council Member PoA Supporter

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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.
     
  32. EdFred

    EdFred Taxi to Parking

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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.
     
  33. Bill

    Bill Touchdown! Greaser! PoA Supporter

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    Won't happen, they want people in the market, how else to shear the sheep?
     
  34. Palmpilot

    Palmpilot Touchdown! Greaser! PoA Supporter

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    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.
     
  35. denverpilot

    denverpilot Tied Down PoA Supporter

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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.

    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.
     
  36. PaulS

    PaulS Touchdown! Greaser!

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    I'm loving this Gamestop stuff, makes me giggle.

    People need to stop voting on what politicians say and start voting on what politicians actually do. This high school popularity contest mentality needs to stop.
     
  37. schmookeeg

    schmookeeg Administrator Management Council Member

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    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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  38. EdFred

    EdFred Taxi to Parking

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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.
     
    Last edited: Jan 28, 2021
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  39. Morgan3820

    Morgan3820 En-Route

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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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  40. Gary

    Gary En-Route

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    Agree! Now that I'm retired, interest rates in the 5-7% range would be wonderful!
     
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