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mi40 01-27-2021 04:06 PM

Re: Stock Market Chit Chat
 
stop feeling the fear of missing out
gamblers and risky investors will blow up eventually.. greed gets to a lot of people

anyways, today was a blood red day and actually the highest rise of VIX (the fear index) since march 16, 2020 - so that means something.

of course, meme stocks went up a lot. but as more and more people pile on, there will inevitably be losers and even the winners will want more.



people who made money on memes, but not LIFE CHANGING MONEY, will probably try to repeat the same success and overleverage themselves in the process, and when they lose, they will lose a lot.

now, if you put down like $100k on GME leaps early and made out with $5 million, that's life changing money, so you're set

mi40 01-27-2021 04:11 PM

Re: Stock Market Chit Chat
 
Quote:

Originally Posted by melonpapes (Post 4755273)
Like it actually depresses me so much that there are that have apparently literally millions of dollars lying around in meme stocks and I'm just kinda here trying to live on a monthly basis lol

you can invest it, but don't gamble it
it's important to build capital to start off so you can deal with multiple types of financial instruments

mi40 01-27-2021 04:20 PM

Re: Stock Market Chit Chat
 
anyways, nasdaq down 3.6%, spx down 3%, dow down 1.9%
but crude oil held strong at 52, and DXY went up to 90.6
all in all, we're still way above September levels - so the lesson is get a good entry and sit on it and you'll have a nice cushion during shaky market movements

added more COSTCO and AMD

Frank Munoz 01-28-2021 09:04 AM

Re: Stock Market Chit Chat
 
Well, what I feared most out of all this. Certain brokers are currently halting trades(buying) for GME and other actively popular stocks.

melonpapes 01-28-2021 10:27 AM

Re: Stock Market Chit Chat
 
Robinhood gettin a lot of flak for what they are doing

https://twitter.com/RashidaTlaib/sta...07292667981828

"This is beyond absurd. @FSCDems need to have a hearing on Robinhood's market manipulation. They're blocking the ability to trade to protect Wall St. hedge funds, stealing millions of dollars from their users to protect people who've used the stock market as a casino for decades."

XelNya 01-28-2021 11:17 AM

Re: Stock Market Chit Chat
 
I don't know shit about stock trading, but I do wanna get a grip of what the fuck happened, is there a good "what happened for dumb asses" somewhere?

A short explanation would be *awesome.*

melonpapes 01-28-2021 11:28 AM

Re: Stock Market Chit Chat
 
Quote:

Originally Posted by XelNya (Post 4755351)
I don't know shit about stock trading, but I do wanna get a grip of what the fuck happened, is there a good "what happened for dumb asses" somewhere?

A short explanation would be *awesome.*

Lets say the price of bananas is 10 dollars, and we have a bunch of apes and snakes.
The snakes are betting on the price of the bananas to go down, so they borrow a bunch of the bananas from the apes on Monday, sell them right away for 10 dollars each, knowing/hoping that the price of bananas will be lower than 10 dollars on Friday when they have to pay them all back to the apes (shorting), hoping to make a profit on the difference.

The next week, the apes, recognizing this, decided to buy up all the bananas themselves, making the price go up. This forces the snakes who borrowed on monday to buy back their bananas at a loss, making a profit for the apes.

The apes are reddit and the snakes are the hedge fund managers

XelNya 01-28-2021 11:47 AM

Re: Stock Market Chit Chat
 
Quote:

Originally Posted by melonpapes (Post 4755352)
Lets say the price of bananas is 10 dollars, and we have a bunch of apes and snakes.
The snakes are betting on the price of the bananas to go down, so they borrow a bunch of the bananas from the apes on Monday, sell them right away for 10 dollars each, knowing/hoping that the price of bananas will be lower than 10 dollars on Friday when they have to pay them all back to the apes (shorting), hoping to make a profit on the difference.

The next week, the apes, recognizing this, decided to buy up all the bananas themselves, making the price go up. This forces the snakes who borrowed on monday to buy back their bananas at a loss, making a profit for the apes.

The apes are reddit and the snakes are the hedge fund managers

I appreciate it. It's as funny to watch as I was thinking it was.

choof 01-28-2021 01:06 PM

Re: Stock Market Chit Chat
 
Quote:

Originally Posted by mi40 (Post 4755290)

people who made money on memes, but not LIFE CHANGING MONEY, will probably try to repeat the same success and overleverage themselves in the process, and when they lose, they will lose a lot.

now, if you put down like $100k on GME leaps early and made out with $5 million, that's life changing money, so you're set

to a lot of people even just like $2000 would be life changing money lol, especially folks that are living paycheck to paycheck. that's grocery money, gas money, car money. I regret not jumping in even for just a small amount because my car's busted, my pc's on the fritz, I'm stuck in a small house with 4 other dudes. $1000 to spend on my car's maintenance would snowball into so many good things.

gold stinger 01-28-2021 01:09 PM

Re: Stock Market Chit Chat
 
Quote:

Originally Posted by melonpapes (Post 4755352)
Lets say the price of bananas is 10 dollars, and we have a bunch of apes and snakes.
The snakes are betting on the price of the bananas to go down, so they borrow a bunch of the bananas from the apes on Monday, sell them right away for 10 dollars each, knowing/hoping that the price of bananas will be lower than 10 dollars on Friday when they have to pay them all back to the apes (shorting), hoping to make a profit on the difference.

The next week, the apes, recognizing this, decided to buy up all the bananas themselves, making the price go up. This forces the snakes who borrowed on monday to buy back their bananas at a loss, making a profit for the apes.

The apes are reddit and the snakes are the hedge fund managers

easier tl;dr

wall street placed a bet that the stock would go down

internet placed a bet (bigger than wall streets) that the stock would go up

size of the bet determines how much the stock goes up or down.

the stock went up

internet placed another bet that the stock would go up

wall street frantically also betting that the stock would go up, to cover their losses.

Causes the stock to go ridiculously high.



Mainstream media is starting to pick up massively on this news that's been happening for the past week or so, because political figures are starting to get involved by pointing fingers at faults in the system, and blaming one side or another for misuse of stock trading, even though this system is literally what has been historically keeping the rich 'RICH', for decades.

There's also growing concern with some stock trading web services halting trades of certain volatile stocks like AMC & GME outside of normally halted hours (GME being the stock in question for the media highlight) in that they could be siding with one side of the scale or another, a.k.a., possibly rigging the bets in favor of one group or another. Since it's preventing people on one side from making bets in some places, but not restricting people from making bets in other ways. Notably, fingers pointing at Robinhood, and TD Bank being the ones getting press coverage in that department.

Frank Munoz 01-28-2021 01:30 PM

Re: Stock Market Chit Chat
 
There's atleast one lawsuit now filed in the southern district of newyork.

This may have been a #meme to most, but real change may actually happen because of the lengths this has gone to.

I ain't selling

gold stinger 01-28-2021 01:35 PM

Re: Stock Market Chit Chat
 
Honestly I saw this sort of uptick in volatility across the entire stock market happening eventually. The warning signs were kinda already there when you saw massive swings in stocks whenever 'someone important' commented on a business, or a stock. Like Elon Musk, or Donald Trump. It is an interesting case though since this didn't involve much talk involving a public figure.

Imo this is literally a case of younger adults taking advantage of the system because they are now old enough to do so and have the income to make actual impact in the system, along with a growing interest in options to improve lifestyle with a worsening economy. Also a situation where older individuals are more used to riding inflation, and that is now possibly being threatened since you could theoretically have a surge like this (in either direction,) in any stock.

melonpapes 01-28-2021 01:53 PM

Re: Stock Market Chit Chat
 
Quote:

Originally Posted by choof (Post 4755355)
to a lot of people even just like $2000 would be life changing money lol, especially folks that are living paycheck to paycheck. that's grocery money, gas money, car money. I regret not jumping in even for just a small amount because my car's busted, my pc's on the fritz, I'm stuck in a small house with 4 other dudes. $1000 to spend on my car's maintenance would snowball into so many good things.

100% this. 1000$ just to help out with monthly expenses could roll into next month and etc etc.

mi40 01-28-2021 02:56 PM

Re: Stock Market Chit Chat
 
Quote:

Originally Posted by choof (Post 4755355)
to a lot of people even just like $2000 would be life changing money lol, especially folks that are living paycheck to paycheck. that's grocery money, gas money, car money. I regret not jumping in even for just a small amount because my car's busted, my pc's on the fritz, I'm stuck in a small house with 4 other dudes. $1000 to spend on my car's maintenance would snowball into so many good things.

okay my bad, so the point i was making is
people put down MORE money on TOP of the money they made thinking they're going to win big again

some people even go into debt, and get bigger positions than they should be handling.. a ton of people probably bought gamestop and AMC theater stock at really high prices yesterday and today (and DOGECOIN today) and are probably going to get burned.

i seriously don't wish people to go to $0.. that's why i haven't touched any of the hype meme stuff.. it's just so dangerous. somebody loses.

Frank Munoz 01-28-2021 04:14 PM

Re: Stock Market Chit Chat
 
Whata day.. lawsuits, manipulation, rumors. Just got an apology email from robinhood and they're gonna allow "limited" trades tomorrow. All while monitoring them.

After today's obvious attempt to get people off GME and other stocks, it somehow will continue.
Tomorrow, many of us alude it to being the make-or-break, but it may last another week.. whoknows

Either way, ain't this fun!

ULTIMEGA 01-28-2021 05:09 PM

Re: Stock Market Chit Chat
 
Does anyone have any popcorn left?

qrrbrbirbel 01-28-2021 05:33 PM

Re: Stock Market Chit Chat
 
Imma wait for the 4st bailout thats pushed before stimulus checks and the revolution that ensues afterwards

Rebirth0 01-28-2021 08:00 PM

Re: Stock Market Chit Chat
 
Yeah I got somewhat burned on AMC already, but I only bought 20 shares at $14. It was up to 18 something yesterday before close, and that was when I should've sold.

Not a huge loss because its only $300 and its sitting at $175 in value. Could easily go back up because this shit doesn't appear to be over.

That said, playing with GME, NOK, or AMC, and I guess dogecoin is not smart in any way. Buy some oil stocks. That shit will likely go up under Biden. Been putting a little bit of money into XOM (Exxon Mobil) with its stupid 7 - 9% dividends that I'll probably never sell because of that

Wayward Vagabond 01-28-2021 09:39 PM

Re: Stock Market Chit Chat
 
Am I stupid for going in on BB? Yes or yes

Frank Munoz 01-28-2021 09:43 PM

Re: Stock Market Chit Chat
 
After work, I dumped what I had left into DOGE as it's following the same routine from early 2018. As much as #meme is going on with it, it's still on schedule. Just a way bigger push this time due to current events.
Took a nap right after placing the order and woke up to 500% up. Gonna stay up a tiny bit to ensure the trajectory is alright then knockout again.


Quote:

Originally Posted by Wayward Vagabond (Post 4755367)
Am I stupid for going in on BB? Yes or yes

edit: I think BB is a solid choice. May not be as exciting as the others, but BB has a big future to come.
Especially in 2022 as their tech will be in EVERY vehicle produced coming 2022.


Double edit:


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