Trading the stockmarket (NO Referrals)

[englishpremier]

These trading halts completely ruin the momentum.

There was talk that halts were to allow market makers to shore up their positions and that afterwards they were engaging in naked shorts to try and drop the price. No idea how true it is.

Also read that one of the companies what provided invested in Melvin Capital, was Citadel which is also a market maker.

Seems like the game is rigged.

 

[dirtychinchilla]

Let’s hope it’s rigged for me to make £££

 

[Skillmister]

.

Seems like the game is rigged.

Which is why it's so hypocritical for the big boys to be crying foul at a bunch of redditors turning hive mind and hyping something up. And why places like Citron have really made everyone so angry with their blatant market manipulation that they seem to get away with because they aren't retail investors putting away their monthly pay checks.

There are so many catalysts for this one it really has been amazing to watch and read into.

 

[Skillmister]

As far as I am aware it has a new CEO who has brought some shares, anything else?

This covers it pretty well

https://youtu.be/alntJzg0Um4

But also yes the new CEO is definitely a big one.

As above, not saying they are going to turn into Amazon tonight but they appear to have a decent amount going for them and Cohen getting on board has to be seen as pretty huge.

 

[unwashed potato!]

Can someone please explain how tax works with stocks.

I understand you pay on stocks sold, but at what point? Each and every stock I buy and then sell if I make £20, £200, £2000? What if I buy tesla, ride it and make £3000 so sell and buy another stock that drops £1000. Am I paying on £the original £3000 profit, or the £2000 over all?

How is it worked out for day trading. Seems like a lot of admin if you're forever jumping in and out on the waves.

 

[Stumble Bum]

https://www.youtube.com/watch?v=yabfSqztWFg

This GME live stream has pretty hilarious chat. Crazy what they are doing to the markets with this share. Always nice to see the shorters squirm.

 

[Randomface74]

Can someone please explain how tax works with stocks.

I understand you pay on stocks sold, but at what point? Each and every stock I buy and then sell if I make £20, £200, £2000? What if I buy tesla, ride it and make £3000 so sell and buy another stock that drops £1000. Am I paying on £the original £3000 profit, or the £2000 over all?

How is it worked out for day trading. Seems like a lot of admin if you're forever jumping in and out on the waves.

The average person can use a stocks and shares isa to avoid tax. There are still fees though.
People who go over the 20k a year isa limit have to fill in a tax self assessment, or get an accountant to do it.

 

[G-MAN2004]

There was talk that halts were to allow market makers to shore up their positions and that afterwards they were engaging in naked shorts to try and drop the price. No idea how true it is.

Also read that one of the companies what provided invested in Melvin Capital, was Citadel which is also a market maker.

Seems like the game is rigged.

Even if it is, they're still losing.

This is insane. I'm not selling no matter what.

 

[Ev0]

I was going to chuck a few quid on GME earlier when it was 88 or so.

Had to go do some stuff, came back and it was up at 150 odd flol.

Maybe next dip

 

[BennyC]

The average person can use a stocks and shares isa to avoid tax. There are still fees though.
People who go over the 20k a year isa limit have to fill in a tax self assessment, or get an accountant to do it.

No. You can't exceed your ISA allowance. If you do it's void and taxable.

ISA for £20k subscriptions tax free profits.
Fund & Share Account to use your CGT allowances, £12k tax free (£12.3k 20-21 fiscal year).

A simple google by @Apex would give a good steer.

 

[MrWhippy]

I was going to chuck a few quid on GME earlier when it was 88 or so.

Had to go do some stuff, came back and it was up at 150 odd flol.

Maybe next dip

Put a cheeky order in. It'll either take or it won't.

 

[Martynt74]

I guess this is why I’ll never be rich. I bailed at 120 taking a decent 25% profit from a purchase at 94 yesterday afternoon.

Given the dips on this thing as the halts kick in. It seems to be a goldmine for small 10% trades but I’m fairly confident I’ll get one wrong and end up losing all the profit I’ve made so far

 

[Mesai]

I guess this is why I’ll never be rich. I bailed at 120 taking a decent 25% profit from a purchase at 94 yesterday afternoon.

Given the dips on this thing as the halts kick in. It seems to be a goldmine for small 10% trades but I’m fairly confident I’ll get one wrong and end up losing all the profit I’ve made so far

Weekly and monthly contracts come due on Friday; absolutely no reason to sell but I understand the fear.

 

[mid_gen]

Even if it is, they're still losing.

This is insane. I'm not selling no matter what.

It's the most blatant and obvious pump and dump in history..... a zombie business in a dead industry (retail) stumbling towards bankruptcy.

Why on earth would you hold it? You need an exit or you'll just eat the losses when the inevitable dump happens.

 

[unwashed potato!]

It's the most blatant and obvious pump and dump in history..... a zombie business in a dead industry (retail) stumbling towards bankruptcy.

Why on earth would you hold it? You need an exit or you'll just eat the losses when the inevitable dump happens.

Agreed.

It won't be long before the next stock gets their interest and gme is forgotten. But in the mean time enjoy the ups and downs if you can do it without giving yourself a heart attack.

 

[Trig]

I sold my Kiwa at just over 20% profit and stuck what I had taken out into Blackberry.
I was going to sell my GME at 50% but was eating dinner and by the time I had finished it was up 51.9% and the market had closed, still not bad for a days work, if you can call it that..

 

[G-MAN2004]

It's the most blatant and obvious pump and dump in history..... a zombie business in a dead industry (retail) stumbling towards bankruptcy.

Why on earth would you hold it? You need an exit or you'll just eat the losses when the inevitable dump happens.

Elon Musk just tweeted about GME.

It's going to Mars by the end of the week.

 

[unwashed potato!]

Elon Musk just tweeted about GME.

It's going to Mars by the end of the week.

Yep just seen. I've pulled out with decent profit and was hoping for a drop. May just have to jump back in tomorrow and accept the lost difference.

 

[sanaxe1]

Made £6000 today with GME.

 

[unwashed potato!]

Made £6000 today with GME.

Good stuff.

Was only £900 for me, happy with it but as always I could have been happier now that Elon has tweeted it's already gone to 180 and going up