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TheInvisibleStoner

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Damn...

Limit down today maybe :)

Futures opened with some nasty nasty nastiness. Like 1% down right away. All those longs on DJI (weekend wallstreet) just got ripped in half. From 50 points up to 175 points down in less than 2 candles. They play for $50 a point too LOL. Dumbasses.

Futures red across the world in fact.

Just need vix to hit $50 will get out. Would have 2.5x that cash in just a couple of months. Maybe $60. Gonna shed like 25% worth at $45 to ensure some profits no matter what.

SLV is moving like crazy too. Means miners will be pumping tomorrow.

It might just end up bouncing like a ball deep into hell.

Margin call for sure tomorrow for usual suspect.
 

Xorkoth

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I'm gonna wake up at 7:15 tomorrow so I can catch 7:30 pre-market. If either of my AMC or NAKD hit breaking even, I'm probably gonna jump out. Maybe I'll leave half my AMC. Gonna probably hang onto GME just in case this big squeeze really happens.

If they don't break even I'll probably hang onto AMC at least. I did buy 20 shares at 12.something so could probably pretty easily get that back. I could just leave it all and toss the dice, but I'd like to get into some other stuff that isn't based on this WSB hype. But seems prudent to keep some cash on hand and see what happens with the market, might be able to buy pretty much anything at a discount if I wait a bit.
 

TheInvisibleStoner

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Wow.

Citadel then bailed them out with 2 billion last week.

I do give some credit to those WSB guys.

How shitty would it feel to be running Melvin and you literally got burned by a bunch of retail traders. I love it.

And the more I read, Robinhood was not only told to stop the trading of GME, but they also had to force sell shares to raise capital. Hopefully nobody is still using Robinhood.


Meaning they are a broker that is going broke. Hope they shut down.
 

TheInvisibleStoner

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I think AMC gonna rip today. I'm gonna leave it. Rather lose it all then miss a chance for some craziness.

Everything crazy green.


Silver going crazy. Might get me some slv calls. This WSB are super legit it seems. LOL. The dude fresh out of detox might get paid. He is probably celebrating like hell right now.

All the money people are taking out these last days are only going to put back in the next day :) They were probably just shaking people out. And now ready for launch time. Plus we know stimulus is coming.

Buying calls on any red day close (just before close) seems good too. Easy way to double money. And you just have to win 50% of those to end up winning.
 
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dalpat077

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Social media and mob mentality! Again!

I think this lot have created a very dangerous precedent to be honest (possibly more than one).

And there's a lot of missing information in all of the hype that's been created over this and being put out on social media.

For one thing: you can be 100% sure that if more oversight and regulation is introduced it's not going to benefit your average online retail trader that's for damn sure. Depends on how far they're prepared to go of course but there's no limit. Anybody that's been in this game long enough should be well aware of what happened to online spot FOREX trading in the US (mugs game that FOREX is aside). Worst case scenario and if they're pissed enough about it: you end up having to be classed as a professional trader and that'll be that for most given the requirements. Then again: it'd remove pure speculation from the markets and that, in my opinion, wouldn't be a bad thing especially after this fiasco. Aside from anything else: these types of shenanigans could easily result in bubbles and stocks that are trading nowhere near to what they should be trading at and inflating the value of listed companies and that are worth nothing in reality.

There's missing pieces here though. We're not talking about penny stocks here. And it takes a lot of money to move a stock. Yet all of this smacks of your classic pump and dump operation as is prevalent with penny stocks. This said: it's worth bearing in mind that there were other funds and professional traders long the stock too. So maybe this is a storm in a teacup. But right now it's not adding up nice.

The other danger of course is that to the uninformed and those just looking on from the sidelines: seeing these (supposed anyway) massive gains that some made is giving a totally false perception. Just watch the number of new lambs to the slaughter that this entices to open trading accounts and with little to no money and with offshore bucketshop brokers offering ridiculous amounts of leverage.

As for Robinhood. I actually do hope they go tits up. Yet another market maker taking the other side of client trades and who knows how much they've skimmed off of unsuspecting, mainly inexperienced, traders over the years. Obviously they never saw this coming and got caught out at their own game (that's the only plus here). Zero commission trading. Always a good sign!
 

TheInvisibleStoner

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Thats thing. There is plenty of money. Anyone can trade stocks these days. Its a new era. So much cash been given out by the government too. Even more to put in.

Lots of cash out there. Even in retail.

Lets see what happens today. Or really the week will tell us more. If its green green green it will just keep chugging along. But I mean the dow only a few points over 30k. Trump announced 30k long time ago. So while lots of action been happening, index have just been cycling.

Robinhood gonna go broke. I don't know who would use them aside a small amount of people. Just about all brokers offer free shit anyway. Even if not the best charge half a penny a share and 65 cents a contract. Basically free the same.
 

usual-suspect

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Yes, very agree with @dalpat077 on the warning....

Information gets old quickly these days, and all these WSB thing maybe old news already, or maybe not, I have no idea how long/hw far this will go, but it will have a very violent end for many people. Things get hairy very quickly, brokers stop taking orders, orders don't get to the market, etc, and you are left holding a bag of worthless shares. I assure you this weekend many experienced HF managers didn't sleep finding out some strategies to drain the blood of all the newcomers that will arrive to markets after this WSB thing.

If you have some money you are willing to lose without worries, play it and have fun, but for fucks sake, never use leverage on these manias, never, never, never, because you are risking to take a lot of DEBT on your shoulders. Only use the money you have, and be very very careful placing orders, is just too easy to make some mistake and add an extra 0 there and lose thousands in minutes... if you have never traded shares, just don't do it now, that's my advice. It's like learning to drive in a F1 in fucking Montecarlo... Even if you get a couple of turns right and people starts to cheer you, you will just get some unjustified confidence that will make you crash harder on next turn.

It's interesting the #silversqueeze, metals have been manipulated down for years and years, I hope silver and gold explode with this excuse, but not really convinced it will happen
 

usual-suspect

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It's interesting the #silversqueeze, metals have been manipulated down for years and years, I hope silver and gold explode with this excuse, but not really convinced it will happen

Actually, I took another look and looks like the silver thing is not coming from the WSB guys, but from the same HF that got hit (Citadel is long silver). Most likely they are selling silver now


That's how is going to be now, misinformation and races and Hedge funds unloading millions on newbies hands
 

ions

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The market, it's gon' crash. Many are still in denial if not most. But we see it unfolding.
 

Xorkoth

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Actually, I took another look and looks like the silver thing is not coming from the WSB guys, but from the same HF that got hit (Citadel is long silver). Most likely they are selling silver now

Yeah I was gonna say, the silver thing is a smokescreen to throw people out of GME/etc, and raise some capital for the hedge funds.

So yeah, AMC is looking nice, I did sell 15 of my shares for a profit earlier, holding the rest for now (I bought them for more than what they're worth right now). Holding 1 GME, also sold my NAKD so I've got some cash now that I'm holding. So far I'm out slightly ahead but most of it is still in GME and AMC.

I'm at work, but trying to do some research on some ETFs to go into. But it seems like it might be good to wait a bit to see if there is a market correction coming, I'm not sure though.
 

TheInvisibleStoner

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Woooo.

AMC taking the fuck off. In da profits.

Got some SLV calls too. Monthly. Slightly OTM but will be ITM at 32.

I'm not so certain anymore about a crash. With all the stimulus coming, I really only see up. Volatility, yes. I mean if you noticed we are barely above 30k dow. The market has just been cycling these past months. Probably what will keep happening. Weekly s&p / nasdaq / dow close will tell me.
 

Xorkoth

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GME dipping way down. I bought another share earlier today, set a limit buy at 165 for another a few minutes ago. I would just leave the whole thing alone at this point, but the volume is very light and it appears that the price is being manipulated. On the other hand, the FUD is probably working to some degree so less and less people will be holding.

The fake news about the "big reddit silver squeeze"... I'll say it does suggest that they are scared, to spam every major news outlet so heavily with falsehoods. I've been following WSB for a week or more and I never saw a single mention of "alright guise silver is heavily shorted let's all go into silver!!!!111!". That, and all the media reporting that the hedge funds are saying they've closed out most of their short positions, yet if you check, the short interest is still massive.

AMC though, not looking so hot there. Wish I'd have exited when I briefly had some real profit. I did recoup my shares I bought at a lower price for $2 profit per share, but that was just a small portion of my position.
 
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thujone

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*pokes portfolio*

c'mon... do something

*uranium reacts*

finally.

radioactive rocks - the real green economy
 

Xorkoth

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I got some good tips from my good friend who is inside the legal cannabis industry, about some stock picks he is into (or will be once the IPO is released, for one of them) that he believes will be some of the major players of the impending legal cannabis boom as legalization continues to progress. I also have been watching RIOT and MARA for over a month now and IO notice that they move to shadow BTC. Noticed BTC is looking very strong overnight, so I bought a big position in the two of them, going to ride it today and sell at 10%, or end of day. I have stop losses in place to minimize risk. Hoping to flip them for a bit of extra funds, every little bit helps.

My long-term goal is to position myself in broad ETFs, and cannabis stocks. Disregarding the temporary RIOT and MARA positions, I am about 50% in ETFs right now. Been making some moves, trying to learn from the past month.
 

jhjhsdi

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@Xorkoth i opened my old BTC wallet and I had 0.00198 which was ~£50
A friend was in need of some (the reason i opened my wallet to check, hadn't opened it since 2017) so I sold him £20 worth.
I have just over £30 worth left.
What would YOU do with it?
 

jhjhsdi

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I also realized i have about 50p worth of LTC 😅
Swear I have 1000 doge too and some DASH but cant get either of the wallets to open
 

Xorkoth

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@Xorkoth i opened my old BTC wallet and I had 0.00198 which was ~£50
A friend was in need of some (the reason i opened my wallet to check, hadn't opened it since 2017) so I sold him £20 worth.
I have just over £30 worth left.
What would YOU do with it?

I'd probably just hold it, or buy drugs. That little isn't gonna do much, but BTC is almost for sure going to keep going up, it's got all sorts of institutional investors now, and has a limited supply, so as more money goes in, the price will only go up.
 

S.J.B.

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I decided to get back into the market after a bit of a break. My current strategy is selling cash-secured, deep-out-of-the-money put options on stocks that I would be okay with being assigned. GME would have been a perfect target for this due to the high volatility but my broker banned selling options on it. :(
 

jhjhsdi

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or buy drugs.
Guess where that £20 is going haha
That little isn't gonna do much, but BTC is almost for sure going to keep going up, it's got all sorts of institutional investors now, and has a limited supply, so as more money goes in, the price will only go up.
You ever used etoro?
My friend said hes earning every day using the 'copy investors' method
Not sure if i can transfer my btc there and use them to do the same?
 
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