Trading the stockmarket (NO Referrals)

413x · 1 Feb 2021 at 15:33

Jono8 said:
I realise that in life that to win big you have to bet big/take risks.

But i just could never bring myself to throw so much money at something that has such an unknown outcome.

I am still tempted to chuck a couple of hundred at it if the price really plummets, but would never dream of putting everything i had into it.

I feel like the ship has sailed and that those that have won big, are the ones who got in early with a few thousand at like 14$ a share.

It's hard.

You never know how far these things go.
If at all.
Who would have thought the top was at 100? 200? 1000?

Higher it goes more risk of loss and less gain.

It's always too late and too early to go into these things. Which is why I see it as gambling.

arknor · 1 Feb 2021 at 15:33

Milkybk said:
Mob mentality inevitably failing.

everyone was saying hold till monday so the inevitable happened since it's now monday

no one ever said hold till monday closing or tuesday

mid_gen · 1 Feb 2021 at 15:34

fez said:
Why is gamestop doomed? It was a failing bricks and mortar shop that had an injection of cash and was under new management who are trying to bring it up to date and make it competitive again. Shorting the **** out of a company is a pretty good way to manipulate the value of a company and make sure that your "prediction" comes to pass.

Its school yard politics.

"Why doesn't X have any friends"
"Oh the cool kids have decided they don't like them"

Why is GameStop doomed? Because they are in a market that is disappearing. Because look at Game Pass for Microsoft that's going to decimate their console game business. Because the e-commerce pivot has the likes of Amazon waiting there to kick their ass.

Maybe I'm missing the swathes of examples where lumbering traditional bricks and mortar stores that missed the boat by two decades successfully turn around and suddenly make a success of themselves.....

unwashed potato! · 1 Feb 2021 at 15:34

413x said:
It's hard.

You never know how far these things go.
If at all.
Who would have thought the top was at 100? 200? 1000?

Higher it goes more risk of loss and less gain.

It's always too late and too early to go into these things. Which is why I see it as gambling.

indeed it is hard to know, even now.

last thursday it shot to 470, then 130, then closed at what, 290? to open the next day and close 330.

at 130 people said it was done. perhaps they were right, but it still carries on.

as quickly as we are looking at this top, i could come back in an hour or two and find it's bascially recovered.

someone is making a mint in these dips.

Hyburnate · 1 Feb 2021 at 15:35

booyaka said:
Who are a lot of people??

People on twitter/reddit etc - Any you really believe them?

It was an opportunity to make a quick buck - it's now reverting to type. A failing bricks and mortar retailer.

Yes exactly that, I'm not saying I do believe them and honestly I got in it so low I couldn't give a crap about the money

The rest of my portfolio is tanking too, I'm here for the ride!

413x · 1 Feb 2021 at 15:35

There will be a lot of 'I lost everything I had' to go along worth 'in a millionaire!' stories coming out in next few weeks

mid_gen · 1 Feb 2021 at 15:36

kakarott said:
Dipping under $280. Feel like a mug buying at $335 last week.

Well at least you realize that and aren't deluding yourself that you need to rectify the situation by buying more.

413x · 1 Feb 2021 at 15:38

Apex said:
indeed it is hard to know, even now.

last thursday it shot to 470, then 130, then closed at what, 290? to open the next day and close 330.

at 130 people said it was done. perhaps they were right, but it still carries on.

as quickly as we are looking at this top, i could come back in an hour or two and find it's bascially recovered.

someone is making a mint in these dips.

Just have to think equal number losing.
It's completely unpredictable.

You could go in now with 1k and what.. At best make 1k back
Or. You could lose 900.

With sentiment how it is, its much more likely to crash. The peak (in hindsight) looks like its gone now. To peak above that would need everyone to truly believe its a new wealth store
Which is unlikely

Noxia · 1 Feb 2021 at 15:39

I viewed this like a hyped up outsider on the Grand National, I wouldn't put my lifesavings on it but it's nice to back it and be part of the hype. The fact I did ok out of this was pure luck and not because I have any knowledge about stocks.

Krono5 · 1 Feb 2021 at 15:39

Anyone know what's happening with NIO? would have thought it'd be heading up towards $70?

Jono8 · 1 Feb 2021 at 15:39

mid_gen said:
Maybe I'm missing the swathes of examples where lumbering traditional bricks and mortar stores that missed the boat by two decades successfully turn around and suddenly make a success of themselves.....

Unlikely. Long term, most bricks and mortar stores/high streets will mostly be a thing of the past.

413x · 1 Feb 2021 at 15:40

Daze said:
They're trying to short now to drive the price down while everyone is limited on buying. If we buy their dip and hold then they're screwed. They have to buy back at some stage as they've overshorted the stock. This will go to 1k a share at least perhaps 5k+ in the next few days to week.

Are you invested I take it ?

cu3ed · 1 Feb 2021 at 15:41

Noxia said:
I viewed this like a hyped up outsider on the Grand National, I wouldn't put my lifesavings on it but it's nice to back it and be part of the hype. The fact I did ok out of this was pure luck and not because I have any knowledge about stocks.

So youre a trader then lol.

413x · 1 Feb 2021 at 15:42

Noxia said:
I viewed this like a hyped up outsider on the Grand National, I wouldn't put my lifesavings on it but it's nice to back it and be part of the hype. The fact I did ok out of this was pure luck and not because I have any knowledge about stocks.

Same as what I feel worth bitcoin. I bought a couple cheap. Forgot about them. Cashed out later .

No real genius plan. Just luck

Noxia · 1 Feb 2021 at 15:42

cu3ed said:
So youre a trader then lol.

Punter seems more apt

fez · 1 Feb 2021 at 15:43

mid_gen said:
Maybe I'm missing the swathes of examples where lumbering traditional bricks and mortar stores that missed the boat by two decades successfully turn around and suddenly make a success of themselves.....

Whats bricks and mortar got to do with it? They are changing their business model to push online more. New consoles have just been released and a huge number of people have new consoles due to COVID and being stuck indoors.

Loads of companies come back from dire positions simply by tweaking their business model or making themselves relevant again. They may die a death in a few years but I don't like the idea that companies are being finished off by greedy traders.

A business should be doomed by their own actions or lack thereof. Not by a completely unrelated entity deciding that they are ripe for plundering and shorting the crap out of them to drive them into the ground.

Genuine question here. What would happen if 140% of GME shares were shorted and someone like Bezos came along and just bought all the available shares. I know its not that simple but theoretically he would have the shorters over a barrel. He could name whatever price he wanted per share no?

cu3ed · 1 Feb 2021 at 15:45

Noxia said:
Punter seems more apt

If you only punt what you can live without, fine, then its kinda fun, even on a very small scale.

Daze · 1 Feb 2021 at 15:48

413x said:
Are you invested I take it ?

I was in at $30 and going to buy more during a dip today. If we buy their dips and hold the price will rocket.

413x · 1 Feb 2021 at 15:50

Daze said:
I was in at $30 and going to buy more during a dip today. If we buy their dips and hold the price will rocket.

Taken any profit out? Must be sitting on some nice gains!

Congratulations by the way. Its easier to have that attitude when you're sitting on hefty profit.

kakarott · 1 Feb 2021 at 15:53

Daze said:
I was in at $30 and going to buy more during a dip today. If we buy their dips and hold the price will rocket.

Woah really early in the game. What dip price you looking to see?