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Trading the stockmarket (NO Referrals)

Discussion in 'General Discussion' started by mcast123, 2 Apr 2009.

  1. Gaygle

    Capodecina

    Joined: 7 Nov 2004

    Posts: 15,277

    Location: East of England

    Yeah, I got in at like $290 odd, and sold at like $315 or so (after it hit $380) because the swings up and down were so violent and unpredictable, especially with the interferences of RH/T212 preventing purchases, that the risk outweighed the gain. I got in as it was making sustained and trending growth but as soon as RH/T212 started interfering, I got out fast.

    As someone said days ago, this isn't investing, this is just gambling. There's no logic to it or reason to it - and people who have chucked lots and lots of money into this should have seen this coming and my sympathies are very limited. You've got rank amateurs on Reddit who have never invested or traded in their lives trying to play with the big boys, whilst betting their life savings/mortgage on it. Ultimately, the head of Melvin Capital will have sustained heavy losses, but he's still being chauffeured in the back of a Rolls Royce back home to his million pound mansion to see his supermodel wife. And he'll be bailed out by his contacts and have to put up with some short/medium term pain - but ultimately, I think he'll be just fine.

    Redditor who chucked everything in on this and who has lost thousands/tens of thousands of dollars is going to struggle to make rent payments on his flat, not be able to pay back friends/family who they borrowed off, not be able to take their wife/girlfriend/kids on holiday which they had promised to do so and have much longer term pain.
     
  2. Trig

    Mobster

    Joined: 18 Oct 2002

    Posts: 4,520

    Location: Leicestershire

    Here's hoping...
    Not sure what my bail point on it is at the mo tbh, I'll wait until the markets open and decide, maybe..
     
  3. dLockers

    Mobster

    Joined: 21 Jan 2010

    Posts: 2,915

    Buy the dip. Closed market trading is BS, lol.
     
  4. LeMson

    Mobster

    Joined: 21 Mar 2012

    Posts: 3,845

    I've been following that all week, which is why I know the silver story was BS.

    So the news are knowingly lying but forced into doing it - shady
    Just copying each other - lazy
    Has been looking at same sub as me and drawn the opposite conclusion - O_o
     
  5. Minusorange

    Soldato

    Joined: 25 Nov 2005

    Posts: 6,978

    I wonder who's still buying all these shares in afterhours though, can totally understand why folk would think it's over and wouldn't blame all the people who bet more than they could afford wanting to pull out either, I just think with all the crazyness this had brought I don't quite think it's over and it's got one or two more surprises before fizzling out completely.
     
  6. booyaka

    Capodecina

    Joined: 19 Jan 2006

    Posts: 13,627

    Reddit is still full of people "pumping" AMC/GME. It's just plain stupid now.

    Just read the comments

    - You don't know anything - you are making stuff up.
    - Utterly blind faith and nothing else.
    - I mean honestly - do you actually believe this??

    It's over, it's dead in the water.....More than half the shorts positions have exited....

    Don't waste your time on it....It was an opportunity to make some money for a few days at most. It's a dead bricks and mortar retailer.
     
  7. arknor

    Caporegime

    Joined: 22 Nov 2005

    Posts: 38,380

    Location: Newcastle/Zurich

    I'm @ 2.73 average and still kinda worried, it's became a pretty large percent of my portfolio

    I'm bailing at-least 65% of my shares as soon as I hit a small profit unless it looks like it's on a climb towards 290 again

    BTW it will probably dip again when the US markets open because of the other ticker

    or maybe not watch the premarket for us ticker https://www.marketwatch.com/investing/stock/bp?mod=mw_quote_switch
    if it goes down so will our ticker when US market opens
     
    Last edited: 2 Feb 2021
  8. Martynt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 16,074

    Location: Higher Walton

    For anyone that read Reddit prior to all this. How was the quality of posting?

    I presume there were less spammy posts like the above. I've seen some actually decent, well written DD on there with regards to some companies. Which suggests there are some people capable of intelligent thoughts. However now 99% of the posts are just people repeating things they've heard and trying to justify their actions.
     
  9. Chris1712

    Sgarrista

    Joined: 29 Jul 2004

    Posts: 9,343

    Location: Somerset

    Until the squeeze has been squoze, I'm in.
     
  10. tlrBeta

    Wise Guy

    Joined: 1 Jul 2008

    Posts: 1,818

    Location: Birmingham

    I've always found reddit difficult to use, not sure why (maybe the UI).

    It's even more crazy now and I really do feel all people care about is themselves and profit.
     
  11. Ahleckz

    Capodecina

    Joined: 7 Nov 2009

    Posts: 18,183

    Location: Glasgow

    We've seen huge drops in GME during after hours, especially round this time. It often recovers before opening. The usual suspects on here (I'm looking at you @413x ) have been claiming every day for the last week that it's going to tank.

    Now, it might. It might not. To take the after hours trading showing it in a bad position now is wrong. Like the big drop we saw the other day in trading hours which saw a good recovery. This share is all over the place, and the normal rules and traits can't be relied on. It's a casino, a roulette wheel. It's hit a few blacks whilst everyone is betting on red. But just because there's been 10 black spins in a row doesn't mean there's another one coming. Or indeed, a red one.
     
  12. Casdawer

    Mobster

    Joined: 14 May 2009

    Posts: 3,887

    Location: Hampshire

    It's gone down hill massively sine GME and AMC.

    It used to have some form of intelligence to its bets but now it's just people saying that the short squeeze WILL happen and people just need to keep holding. Some of those people are genuine but I believe most are telling people to hold so that they can sell their stock and get some kind of payout.

    I was lucky enough to get in at $70 for GME but stupid enough to set a Sell Limit on the day of the restrictions.

    I'll give it till 3:30pm for AMC to show some positive movement otherwise I'm out. This whole wait till Thursday/Friday thing could be right and I'll look back and ask myself why I sold at a loss but right now, I just cannot see how AMC is going to recover back to my average of $14.
     
  13. dLockers

    Mobster

    Joined: 21 Jan 2010

    Posts: 2,915

    There is still some decent analysis going on. But the meme stock definition is probably an accurate one.

    Your post has just as much content in it as the ones you have quoted. Perhaps you could pick apart and critically assess one of the more useful posts that have appeared on there in the last few hours?
    https://www.reddit.com/r/wallstreet...i_suspect_the_hedgies_are_illegally_covering/
     
  14. Minusorange

    Soldato

    Joined: 25 Nov 2005

    Posts: 6,978

    It's more crazy than it was, but you still had people going all in and showing off their losses just they weren't all on the same stock, there was some quality DD posts but you have to put some effort in finding them

    Not sure it's going to go back to like it was before though, not with nearly 4x as many members joining in the space of a week, it's probably going to be a wholly different subreddit after GME dies away
     
  15. Martynt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 16,074

    Location: Higher Walton

    I suppose it'll either drop back to those levels, or all the people who've lost on GME will hang around desperate to be in from the start on the next thing.
     
  16. Milkybk

    Sgarrista

    Joined: 16 Mar 2010

    Posts: 7,773

    Location: Sheffield

    Aye it's just plain cringey at this point. It's frightening how little understanding people have. I have no sympathy for either side.
     
  17. 413x

    Capodecina

    Joined: 13 Jan 2010

    Posts: 21,838

    Location: Llaneirwg

    It lasted a bit longer than I expected. Especially the second wave. I wasn't expecting that. But it is now Tanking.

    Now its dropped to this level. All bets are off. Dead cat bounce? Possibly.

    My guess now is it will bumble around moving up and down but a gradual trend to somehwre below 100 but above where it was before. Could take weeks

    Going to be a lot of hodlers who just stay in no matter what now
     
  18. booyaka

    Capodecina

    Joined: 19 Jan 2006

    Posts: 13,627

    Critically assess the above post....It's a decent interesting post about shorts and reporting - right up until this comment.

    Based on what? - The title of the thread even says "I suspect" - I can't critically assess a thread that "suspects" something, and then flat out accuses someone of fraud....It's nonsense. Posters/people who are heavily invested into a stock will always find a way to "pump" the stock. He's got some more technical jargon in his post to make it sound interesting and real, but in reality, there is no substance to any of his allegations.

    Do I honestly believe some reddit poster, called Deejay Roomba, has uncovered a massive securities fraud in the last 3 days.... no, sorry, not for me.

    If he has - why is he not reporting to the FBI? SEC etc? There is nothing there.

    It's just another classic example of "pumping" a stock, cause he's too heavily invested to see the reality of the situation. It was a freak moment in time, where a poor performing bricks and mortar retailer was shorted, and people jumped on it to make some money. (i did, i'm out) - It's going to revert to type within the next few weeks. There is no massive fraud going on here, there is no "too the moon" moment. If there is, I'll happily come back on and say I was wrong.
     
  19. uncle_rufus

    Mobster

    Joined: 14 Mar 2011

    Posts: 4,886

    It has a lot of the same problems as the investing threads here and everywhere else do... not knowing how much skin everyone has in the game

    "I'm holding no matter what, look at the volumes the short laddering this is all a tactic etc. stay strong apes blah blah"

    ... says someone whose entire portfolio is a 3-figure worth of exclusively GME stocks. I realise this is gatekeeping / being elitist, but really - can those people even really call themselves investors / traders?
     
  20. 413x

    Capodecina

    Joined: 13 Jan 2010

    Posts: 21,838

    Location: Llaneirwg

    People rarely post losses.
    And yes. 10k when you're a millionaire is nothing.

    If someone on 40k a year is in with 10k.that's very different and does change things