Trading the stockmarket (NO Referrals)

[dod]

How many of you guys are on T212? Are you looking forward to not being able to sell your GME as from what I can see they're blocking both buys and sells?

I couldn't buy until after 8PM last night, didn't bother, too much of a gamble. Had a limit buy set for market open but it opened way over and never even came close to triggering after that

 

[mid_gen]

Well all of my normal funds are nose diving cos of this. It's probably the start of a real correction. I'll probably be 10% worse off by tomorrow unless I sell today....

I bought in on some more on Monday's dip...back to INRG actually after my perfect exit at 1400, expecting a bounce. But nope, looks like a more protracted blip this one, so I've eaten the loss and got out. Still up handily after the gains end of last year though. I intend to keep it that way!

 

[413x]

My UK stocks have never looked worse. They were doing pretty well until the end of last week. Everything is in the toilet now and because it's in my ISA, I can't even take advantage to average down as I'm maxed out

Yeah as always I hold on too long.
I'm not in the red. But missing out on these fad rises has hurt both directly and indirectly

 

[MookJong]

I got in and back out on GME, just don't trust it, after all these app frezes etc, took a small loss to get out.

However I made a couple of hundred on both AMC and BB yesterday and got out. I still have 50 AMC shares in play for today, I've only just started trading recently and have no idea what I'm doing really, so just tend to take 100 to 200 quid profit if its available and then go again somewhere else. I'm making money and it's kind of just a fun hobby on an evening while I watch TV with the misses.

Any predictions on AMC today?

 

[tlrBeta]

I got in and back out on GME, just don't trust it, after all these app frezes etc, took a small loss to get out.

However I made a couple of huddred on both AMC and BB yesterday and got out. I still have 50 AMC shares in play for today, I've only just started trading recently and have no idea what I'm doing really, so just tend to take 100 to 200 quid profit if its available and then go again somewhere else.

Any predictions on AMC today?

I'm in with AMC and NOK so hopefully both good - small numbers but rather not lose considering the rest of my portfolio has dropped a little due to all this.

 

[kakarott]

Is there an article I can share with someone why GameStop shares are valuable now?

 

[Andr3w]

Could somebody do me a TLDR of what Reddit did with GameStop?

I've been over to wallstreetbets and they're all excited about making billionaires lose money??

 

[Maccapacca]

https://www.youtube.com/watch?v=4EUbJcGoYQ4

Equally as clueless I watched this last night which made it a bit clearer

 

[TheBrooder]

Could somebody do me a TLDR of what Reddit did with GameStop?

I've been over to wallstreetbets and they're all excited about making billionaires lose money??

Hedge funds bought stocks to sell short, Reddit got in on the action and hugely increased the value - hedge funds went all in but were forced to sell at a huge loss.

Reddit people = happy

Hedge funds = not happy

 

[tlrBeta]

Is there an article I can share with someone why GameStop shares are valuable now?

Could somebody do me a TLDR of what Reddit did with GameStop?

I've been over to wallstreetbets and they're all excited about making billionaires lose money??

https://www.youtube.com/watch?v=4EUbJcGoYQ4

Equally as clueless I watched this last night which made it a bit clearer

From earlier in the thread:

This is a copy a copy and paste from reddit to help explain what's happening.

1) GameStop is a mall retailer 2) General trend is they go under (like Sears) 3) People by default pigeonhole them with Sears and sentiment drops 4) Covid hits and company suffers 5) Wall Street vultures want to kill it off and start shorting it 6) Stock at $4 and they continue with no regard to actual value... Let alone bankrupting a firm that employs 50.000 7) Some people (Michael Burry) start running the actual numbers and see there is some value, they start investing (mid 2019) 8) Few regular joes notice the same thing and find out shorts will continue to mess with stock and push it down no matter how it is performing. They short it 139%... Sold more shares than there are. 9) For shorts to cover, they need to buy back the shares. They pay interest on the shares they bought to immediately sell short. If they start buying back the price goes up. 10) people start buying stock and not letting it be shorted, it drives price a bit up. Hedge funds shorting the company are losing money if they cover so they double down trying to bring the price lower. Mainstream media is giving huge publicity to GME 11) people continue to buy and hold... Hedge losing money so they start selling options at a crazy premium thinking they will shake us off and collect, after stock dives due to their manipulation (Monday was a great example) 12) other funds on wall street smell blood and want in. Short hedge funds caught themselves in their own trap. First the gamma squeeze then the short squeeze z (margin call) 12) they lose 3bn so they get bailed out by their rich friends as not to get margin called. - until here they could have saved themselves if they flipped- 13) they return the next day and try to repeat. - instead, it backfires and stock keeps shooting up. They are on their knees at market close, about to get margin called ($175 per share) 14) Elon tweets afterhours and it punches up the stock even higher by other wallstreet funds (like BlackRoc)/($220) probably about to wipe that fund and finish some careers.

WSB doesn't have the purchasing power to do this. We simply made it public and piggybackef off of something bound to happen like a sunrise coming from the east

 

[arknor]

Is the massive rise in GME, AMC etc the reason why a lot of funds have gone backwards in the last few days? I've only dared to invest a bit in funds (with a long term aim) and not particularly big sums either.

yea some a lot of my stuff dropped since GME.
one is down almost 13% (d7g)and googling I find no reason why apart from q4 earnings is next month but it's still a full month off and the company always had growth anyway.

they literally announced nothing and drop from 3.1 > 2.7 after reaching highs of 3.3 in previous days
I expect it to climb back to 3 since I find no actual news.

I see BP went down because they suck at going green compared to shell also.

I said in here last week they weren't going green fast enough for my liking, seems I was right :/

maybe the share price drop for BP maks them re-evaluate because they obviously know the reason is SHELL spent more on green energy and will transform faster

 

[Andr3w]

That.....is.... outstanding

 

[MookJong]

This is how I understand it.

Basically lots of hedge fund types placed a "Short", a bet that Gamestop shares would drop in the near future. Effecivly they bought shares undervalued in the expectation the shares would drop even lower than this value and they would be able to profit off the difference.

Redditors knew this and started purposely buying the stock to inflate it away from this predicted drop. If the shares are way above this predicted drop those who predicted it have to pay out the difference.

Makes sense to me, no idea if that helped anyone.

 

[Gaygle]

Yeah as always I hold on too long.
I'm not in the red. But missing out on these fad rises has hurt both directly and indirectly

I'm just going to hold. All of the stocks in my ISA are pretty much long term prospects and as I don't need the money out of them, it's just annoying seeing red. I prefer green

I think I'm just going to stop looking for a while.

 

[arknor]

btw anyone in these shares might want to consider exiting

In response, here is a list of CNBC sponsors and partners. They include, but are not limited to, IBM, Cisco, TMobile, JPMorgan, Oracle, and ZipRecruiter. Their parent company is NBCUniversal, owned by Comcast and GE.

since WSB hates CNBC and CNBC is taking the side of hedgefunds maybe they take a hit in retaliation from retail investors

 

[Rex-Kramer]

I’ve got a fairly large Blackberry position. Expecting it to drop on open but hoping it bounces back, if it’s anything like Nokia I’m getting caned.

 

[Tweek_1984]

Just curious - are you guys who are trading GME, NOK, BB, AMC etc using a taxable trading account or are you using a stocks and shares ISA account?

 

[tlrBeta]

Just curious - are you guys who are trading GME, NOK, BB, AMC etc using a taxable trading account or are you using a stocks and shares ISA?

I have NOK and AMC in my ISA (small numbers - £250 spread across both). However, that's assuming the 212 platform decides to work now and then

 

[mid_gen]

This is how I understand it.

Basically lots of hedge fund types placed a "Short", a bet that Gamestop shares would drop in the near future. Effecivly they bought shares undervalued in the expectation the shares would drop even lower than this value and they would be able to profit off the difference.

Redditors knew this and started purposely buying the stock to inflate it away from this predicted drop. If the shares are way above this predicted drop those who predicted it have to pay out the difference.

Makes sense to me, no idea if that helped anyone.

You don't buy shares when you short.

You borrow them, and sell them, with the expectation that you will be able to buy them back cheaper, return the stock to the lender, and pocket the difference.

Depending on the mechanism they shorted/borrowed with, they may be on a fixed term contract. So once that date comes around, they must buy and return the stock. That expiry date for much of the GME shorts is Friday, hence WSB are trying to keep the price pumped until then, forcing the hedge fund shorts to eat a massive loss.

Of course, at some point, all these WSB people sitting on their paper profits are going to try and cash in and liquidate their positions.....and GME is going to go through the floor.

We're still very much in an extended period where anyone buying stock is seeing easy, large profits. Might well trigger a sell off in the rest of the markets tbh.

 

[randomshenans]

Has anyone dipped into Silver? The WSB group seem to be locked on to this and a $1000 price as well.

 

[ash_scotland88]

On the back of what reddit has done I learnt there's more than "buy low and sell high"
Yes, I did think the stock market was only that. I've learnt that there's borrow stocks, you can earn $xxx for every $x over a share price there is. My head is blown and currently struggling to understand it all.