the market: stocks, bonds, options, whatever

[Xorkoth]

Bunch of AMC panic selling. Good thing I put money in that I had already made my peace with losing. Gonna hold, no way am I selling for that much of a loss. But damn is that a sharp loss. Never seen so much volatility in the stock market in such a short time, it's like crypto 2017.

 

[TheInvisibleStoner]

Yeah pure ownage on AMC. Looks like I will be holding this bag for a while :/. Guess its my new long term investment lol.

 

[S.J.B.]

Currently the WallStreetBets/GameStop saga is the most-read story in the most-read news website in Canada. Crazy.

I don't think this is a good thing, though. Short sellers play an important role in the financial system. What WSB is doing is essentially a coordinated attack -- they openly discuss it in these terms in their forum -- and I can imagine it may lead to apprehension with shorting anything lest it become a target. Which pulls out even more of the stops from this irrationally-exuberant bull run. I don't think brave little retail investors vs. big bad hedge funds is the right way to think about it. Having valuations disconnected from any kind of reasonable measure of value just turns the market into a casino.

That said, Robinhood, IBKR, etc. cutting off trading in these stocks does not seem like the right way to deal with this. I do think there may be a reckoning in zero-commission trading, though, if the payers for order flow decide it's not to their advantage to have WSB Robinhood traders in the market.

 

[jhjhsdi]

The more I read this thread the more I feel like I should do some serious research into this.
Anybody know of a 'decent' beginners guide out there? Or can straight up throw the basics a beginner should know into a few paragraphs off the top of their head, proper blunt and to the point?

I dont have alot of money to invest, but then again I wouldn't want to, to start with. Its free (government) money im getting because of covid, guess i get about £100 a month i could call 'spare' - that i usualy waste on drugs and booze that lasts me 12-36hrs.
Would be very cool to learn how to watch the market and see/know how to make some quick returns, then withdraw original investment and play with profit. My grandad made thousands in stocks and shares before he died, so i guess its in my blood, shame hes not around to ask.

I imagine if i went asking on a stocks forum or reddit i would get shunned, hopefully some my fellow BLers will offer sound advice?

 

[TheInvisibleStoner]

AMC coming back in after hours! I'm not actually down much. Around 20% or so.

GME is moving big in after hours too.

Hilarious times. Last time I do anything like that again. Totally fucked my plans up because now holding a mini bag of some crap I don't want. If I can break even tomorrow and get out I will.

There is really nothing to it @jhjhsdi . Open an account somewhere with a broker. Start buying. Being you don't live in the states no idea how that would work for you, though. Its really only the USA market that is corrupt and filled with assholes I think. You can see how dumb us americans are. We will buy anything. Even a stock that should be worth $10, if reddit says to buy, we buy. Doesn't matter for how much. Because USA stocks only go up!

 

[jhjhsdi]

There is really nothing to it @jhjhsdi . Open an account somewhere with a broker. Start buying. Being you don't live in the states no idea how that would work for you, though.

I can just open an account online right? I have some experience in crypto, is it pretty much the same as just buying BTC, without needing your own personal/desktop wallet?
I run Linux (Ubuntu) on my laptop, is there a good desktop client (I have a good windows emulator installed if there isn't a Linux one) or is it all just done online?
Best site? Or is there just the one?
One more question (sorry for so many in one post) - if it's all online, why would it matter if I'm not in the USA? Or am i missing something
Thanks, btw

 

[Xorkoth]

Yeah seriously, these stocks are moving like 2017 crypto. Up and down 50%+ in one day... wtf?

At this point I'm trying to decide whether to just get out if I break even. I probably won't break even, in which case I'll just hold. AMC is a big movie company, and there's no reason they should start performing better as a company once the pandemic is over. I also bought a measly 2 shares of BB, and 100 shares of Naked. Those two are a really small portion of my portfolio so will probably just hang on, because why the fuck not? BB is a solid company too. My other stock is a weed company and it's not part of this madness, it's been doing me right, I bought some more in a dip yesterday. It's the biggest part of my stock portfolio.

This whole thing reminds me of the 2017 crypto spike so much. On the reddit sub, people are posting about how they lost everything, leveraged a mortgage, student loans, life savings, etc. You should never do that, ffs.

One guy showed a screen shot of his balance, he has 50,500 shares of GME, in the past 24 hours it lost $14 million in value and he's still holding, lol. Of course he bought it very, very low, so he's still up by like $12 million of something.

For a lot of people it's about fucking over the hedge funds and exposing systemic hypocrisy. I'm watching, would be cool if I could make some money, but I'm not an idiot so I didn't bet more than I could comfortably lose.

I want to start looking to diversify into safer areas. Some good ETFs and maybe find a couple of companies I think will be good investments for at least a year. It's a little too white-knuckle for me to go into something so volatile.

 

[JahBeeuS]

I was able to get some AMC on cash app today

Obviously wasn't able to get that grand in on GME but if I'm able to tomorrow I still plan on going for it

It was weird, after I made the purchase on cash app it was using the cash I have in my robinhood account and then when I tried snagging some NOK it wouldn't let me and then when I tried just xfering the cash to cash app it continuously failed

 

[JahBeeuS]

I'm watching, would be cool if I could make some money, but I'm not an idiot so I didn't bet more than I could comfortably lose.

The margin buying is pretty crazy

There are many who are doing this for the principle of the matter and then those who are just as greedy as the hedges and some of them are gonna get burnt no doubt

 

[w01fg4ng]

Bet

 

[jhjhsdi]

@Xorkoth i like the idea of investing in a decent weed company, that will surely just keep growing (no pun intended lol)

Is there really much to be made investing in the giants like apple, Facebook, ones that are usually gaining value daily, or would you have to invest/own a LOT to make anything worth knowing?
For example, say I invested £50 into both apple and fb, what would you estimate i could be looking to make over say a month? (if they stayed steadily going up and didnt drop - or is it really too volatile atm?)
Pennies? Pounds? Hundreds?

 

[TheInvisibleStoner]

I can just open an account online right? I have some experience in crypto, is it pretty much the same as just buying BTC, without needing your own personal/desktop wallet?
I run Linux (Ubuntu) on my laptop, is there a good desktop client (I have a good windows emulator installed if there isn't a Linux one) or is it all just done online?
Best site? Or is there just the one?
One more question (sorry for so many in one post) - if it's all online, why would it matter if I'm not in the USA? Or am i missing something
Thanks, btw

Right. Crypto is 100x more complicated since you have offline / online wallets. On top of exchanges (coinbase, binance, bittrexx, etc). Erase all that from your head since doesn't really apply to stocks.

Since you are in the UK -

Best Online Trading Platforms UK 2023

Choosing the right online broker for you is important; fees, investment options, trading tools, market research and educational materials vary among U.K. share

uk.stockbrokers.com

I use IBKR personally. You can trade in the browser and phone. But they also have trader workstation which is dope. Not really day trading these days like I used to but having trader workstation was a must to chart daily, checking different RSI, etc.

So for you simply open an account with one of those brokers. Deposit some money from your bank, and then buy. Best way is simply investing. UK index is FSTE 100. I would just buy that. Something very basic for you would be something like -

50% FSTE 100
50% bonds

Some more examples -

How to build your first investment portfolio | Shares Magazine

Portfolios should be thought as a team, where the whole is greater than the sum of the parts

www.sharesmagazine.co.uk

When the market shows a nice red day, buy the dip.

As you learn more you can start to get into individual stuff and break it down more.

25% FSTE 100
25% bonds
20% gold
10% silver
30% random shit

All the stuff that is going on now with reddit (gme, amc, etc) is kinda just nonsense and not normal. Someone is always going to get holding the bag this way. I would advise to stay away from day trading when you start or anything get rich quick. Never works. Long term investing / daily cost average is the way to go.

Of course investing in companies you believe in too. This is where the big gains usually happen.

Probably an easy way to get into the USA market also for you.

Lastly, tons and tons of information on youtube. This kid claytrades is on of my favorites and probably learned how to scalp (quick trades) mostly from him.

But also, at this point everything is super bloated and we can certainly head into a super crash. But nobody really knows. All the fundamentals of how the stock market should work have gone to hell since trump came (alongside the fact that everyone has a cell phone and can download a stock app and start trading in 10 minutes).

 

[jhjhsdi]

@TheInvisibleStoner mega-appreciate you writing that out for me, nice one!!!
I'll check out the links tomorrow as I'm in bed/sleep mode now, got all the time in the world to study stuff atm anyway seeing as still in full lockdown, might have a quick glance at the youtuber now though, I'm only watching random crap anyway.
Cheers again pal

 

[TheInvisibleStoner]

The whole thing is corrupt. Has been for a while. Especially since 09/2019 is when it really started. No corrections since 12/2018. Aside that craziness last march.

Insider trading has been going on since day 1, though. The small guy has always been taking it up the ass.

Now 1 single time the small guy tried something, shit hits the fan. Block trading, lock their accounts, sell shares without knowledge, etc.

Glad I never used that robinhood app. But even here you are saving just pennies but getting ripped off nickels since they route your trades through hedge funds which skim.

The more I read the more I just want to sell everything. But then what? Leave all your money in the bank and let them get rich from it? You are basically fucked either way you look at it.

I keep hoping one day I will find out we are really just in the matrix or some shit and will wake up.

 

[Xorkoth]

Yeah don't go looking to get rich quick. Not that it never happens, but it's like winning the lottery. You shouldn't get into investing if you're looking for how much you'll make in a month. Over a year and a half or maybe 2 years now, the weed company stock I bought is almost 2.5x what I bought it for. It's gone up and down a few times. It also went down to 50% of its value from when I bought, before it recovered and now has gone a lot higher. It's a good company my friend is heavily involved with so I know they have a good plan. With weed gaining more and more markets in the US, it seems inevitable to me that the companies poised to be players in the industry will be growing a lot. That is the sort of thing you should really be looking at with stock investing.

I think some of the big tech companies still stand to gain a lot. Amazon is gargantuan, but they're just getting started. They haven't even moved to most other countries yet. And they keep breaking into new markets. I am not betting on Facebook really. Tesla will probably keep growing, though I suspect nit will also correct for a while since it shot up so fast. But electric vehicles are the future, no doubt about that, eventually we run out of fossil fuels, but even before that, they will begin to get too expensive and electric will be the most financially viable alternative. It is inevitable, but it also is years down the road, maybe even decades.

 

[w01fg4ng]

It's all about keeping your cool. Once you have your go tos, their shouldn't be much fuss

 

[TheInvisibleStoner]

Super dead bounce today. Futures getting torn up.

Where is that usual suspect guy at? Outside of dealing with his margin calls. lol

I think I might go into sports betting a bit. At least you know there aren't a million people manipulating it and working against you. Its bad when your paranoia carries into the market.

 

[w01fg4ng]

Reddit is overrated for stocks

 

[TheInvisibleStoner]

I think its going down big.

If you think about it Biden was just handed the biggest bubble ever in stock market history. During a pandemic. LOL. Right now we have lots of newbie retail traders that are just dumping tons of money in along. MM are going along.

Now shit is about to get real. Profits are going to be taken. Once we hit freefall mode and retail starts to panic sell, newbie traders will think twice about getting burnt again.

Recession. Covid is going no place.

We will go into a deep bear market winter. Think BTC 19k > 3k and following. Whole revolution of buyers in crypto too.

Feb will be interesting.

 

[Coffeeshroom]

Im not really clued in with stocks and shares and so on but 4 years back i invested in some sanlam share where i paid 17ZAR a share that went up to 28ZAR a share over the years and now becuase of this whole corona thing they dropped to 13 ZAR a share. So lost a lo there but keeping my money hoping it will climb back up again as i did invest a lot