Current Events > Stock Market General #12

(+) Yeah! (+)

Put a limit buy of 7 AMC if it dips to $14.00

Dont have much to play with

Fuck it. I put a little bit into AMC

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onedarksoul posted...

Is the party over? Starting to feel that way

On Friday it went down to around $140 then up to $400+ hard to say but time will tell. Buying is being restricted quite a bit still, does expose a lot of manipulation.

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They need to do a super short omega ultra ball z ladder right now

As a layperson observing from the sidelines, the mantra of "hold, hold, hold" sounds kind of stupid to me. I get it in a way, but the best move would be to get out when it makes the most financial sense for you as an individual to get out.

I also realize another facet of all this is to hold so the short sellers on GME lose even more money and get fucked even more, but I really don't care about that necessarily. I just want more money for myself, and if some rich people suffer more losses, cool. if not, I made money so oh well.

But again, layperson observing on the side lines.

argonautweakend posted...

As a layperson observing from the sidelines, the mantra of "hold, hold, hold" sounds kind of stupid to me. I get it in a way, but the best move would be to get out when it makes the most financial sense for you as an individual to get out.

I also realize another facet of all this is to hold so the short sellers on GME lose even more money and get fucked even more, but I really don't care about that necessarily. I just want more money for myself, and if some rich people suffer more losses, cool. if not, I made money so oh well.

But again, layperson observing on the side lines.

MMQB

Awesome Off-Minor song, but I guess it does sound like that. Thats been my idea even last week. Holding for the sake of holding just sounds kinda off, because you intentionally aren't trying to maximize your gains in a way(though you could if it goes sky high later on).

I'm really just trying to make sense of this. I havent made a move because I'm still trying to make sense of this.

argonautweakend posted...

As a layperson observing from the sidelines, the mantra of "hold, hold, hold" sounds kind of stupid to me. I get it in a way, but the best move would be to get out when it makes the most financial sense for you as an individual to get out.

I also realize another facet of all this is to hold so the short sellers on GME lose even more money and get fucked even more, but I really don't care about that necessarily. I just want more money for myself, and if some rich people suffer more losses, cool. if not, I made money so oh well.

But again, layperson observing on the side lines.

I think that sums up my sentiment as well. But I'm not sure what exit point makes "the most financial sense" - I very well have missed it when the price peaked at $450.

At this point, I'm just gonna close out. Let my shares just ride. The squeeze doesn't seem like it's going to happen any time soon. Gamestop does seem to have a good future under Ryan Cohen and the new management. Is this new future worth $200+/each share? We'll see. I was aware of the risks with this stock and can't be emotionally invested.

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argonautweakend posted...

As a layperson observing from the sidelines, the mantra of "hold, hold, hold" sounds kind of stupid to me. I get it in a way, but the best move would be to get out when it makes the most financial sense for you as an individual to get out.

I also realize another facet of all this is to hold so the short sellers on GME lose even more money and get fucked even more, but I really don't care about that necessarily. I just want more money for myself, and if some rich people suffer more losses, cool. if not, I made money so oh well.

But again, layperson observing on the side lines.

I'm guessing the people organizing all this bullshit feel the same way. I mean, FFS they straight up call the redditors jumping on this train r******, and they're just eating it up. As someone on the Dogetrain, I got in before this shit started and I'm just waiting for when I think the spike is close to happening and then cashing out. The people who think it's going anywhere notable will be left holding the bag, but that's not my problem.

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That's the tricky part it seems: maximizing your profit. I own some silver(physical bullion and coins), and buying at the right price and selling at the right price is tricky, though less so because silver always rebounds eventually so it is just a matter of being able to hold onto it until that time, so unless you're buying a ton of it at a super high price(40-50 an ounce) you can always make your money back if you have time(years, it can be) to wait.

But it seems like telling people to hold has no clear exit strategy, unless I am missing something.

3PiesAndAFork posted...

I'm guessing the people organizing all this bullshit feel the same way. I mean, FFS they straight up call the redditors jumping on this train r******, and they're just eating it up. As someone on the Dogetrain, I got in before this shit started and I'm just waiting for when I think the spike is close to happening and then cashing out. The people who think it's going anywhere notable will be left holding the bag, but that's not my problem.

But Doge and GME are incomparable.

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3PiesAndAFork posted...

I'm guessing the people organizing all this bullshit feel the same way. I mean, FFS they straight up call the redditors jumping on this train r******, and they're just eating it up. As someone on the Dogetrain, I got in before this shit started and I'm just waiting for when I think the spike is close to happening and then cashing out. The people who think it's going anywhere notable will be left holding the bag, but that's not my problem.

they've called them r-stars and autists much longer before GME was a factor in the sub

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<img src="https://i.redd.it/6htn6hnn5we61.jpg">

Be this guy

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I've been saying sell if you have a large gain since last week.

GME is a pump and dump stock nobody should feel bad for selling because people on the internet call them names if it gives them a good return.

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GoriIIa posted...

Is this new future worth $200+/each share?

Unequivocally no

you will lose a lot of money if you ride this out long term

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So let me ask a logistical question about trading stocks. Do people think too hard about the way money they make in stocks is affected by taxes and broker's fees? If it's clear you're going to make a significant amount of money then it might not matter anyway. But if you're a little guy and are only making, say, $50-100 gains from trading then how much money can you expect to actually keep in this situation? How much money do you need to make for it to actually be worth doing?

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GoriIIa posted...

But Doge and GME are incomparable.

Are they? They're both building up the hype and will cash out when it starts to die. Anyone who put real money into either of these are not holding. The whole bankrupt the billionaires and 1 doge = 1 dollar is all false hype to get people to hold and buy more. They're both going to come crashing back down any day now, and it's the novice people who jumped aboard the hype train who will be left holding the bag.

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lilORANG posted...

Don't worry folks, the experts on gamefaqs have assured me that AMC will be at $100 by the end of the week.

XD

AMC is not a good long term investment. People werent going to the movies before and the novelty of going back to them after the pandemic is over will wear off quick.

@gafemaqs posted...

So let me ask a logistical question about trading stocks. Do people think too hard about the way money they make in stocks is affected by taxes and broker's fees? If it's clear you're going to make a significant amount of money then it might not matter anyway. But if you're a little guy and are only making, say, $50-100 gains from trading then how much money can you expect to actually keep in this situation? How much money do you need to make for it to actually be worth doing?

https://www.nerdwallet.com/article/taxes/capital-gains-tax-rates

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I think it's the opposite. Anything you hold more than a year is taxed as income up to 20%. Anything from less than a year is taxed as Capital Gains and can be taxed up to 34%.

Someone correct me tho >_>

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If you have a significant gain, it absolutely can make a large difference in taxes if you hold more than a year.

In the $50-$100 example it doesnt matter much, sure, but its certainly possible to have much larger gains than that depending on what happens, and once that number starts getting up to $1k+ and beyond the difference could be hundreds to thousands or more.

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NeonOctopus posted...

I think it's the opposite. Anything you hold more than a year is taxed as income up to 20%. Anything from less than a year is taxed as Capital Gains and can be taxed up to 34%.

Someone correct me tho >_>

It's the opposite. In one year it's considered income and in over a year it's capital gains.

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Hold your shit for a year to take advantage of the capital gains tax rate.
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lilORANG posted...

Hold your shit for a year to take advantage of the capital gains tax rate.

But what if it tanks and you end up getting less money than you would have paying higher taxes

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Good rule of thumb: if it declines 10% or more, get rid of it

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Hedge funds at work

https://www.nasdaq.com/market-activity/stocks/gme/latest-real-time-trades

littlebro07 posted...

But what if it tanks and you end up getting less money than you would have paying higher taxes

Then you boght a bum stock and you should feel bad.
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https://twitter.com/AlphaRRCapital1/status/1356277059945955330/photo/1

good news perhaps?

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i honestly would of sold off my GME after what robin hood did AMC i still have faith in but im not holding that past this week.

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gme pls

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Where dat Meme Money

RebelElite791 posted...

gme pls

Probably hard to raise the price if buying shares is being so deliberately limited.

this is boring. i wish it was less boring up $200 though.

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In non-meme related news, PLUG is up 1500% on the year.
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Trumpo posted...

Hedge funds at work

https://www.nasdaq.com/market-activity/stocks/gme/latest-real-time-trades

Volume is very suspect and the trades of steady 100's are clearly their attempt at shorting further.

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shockthemonkey posted...

Literally everything I have besides GME is having a real good day

Sounds like the market is back to normal.

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Question guys.

If I edit a limit order to lower or raise the value, that doesn't count as a day trade for the pattern day trader thingy until it actually buys the stock right?

example: limit to buy GME at 235
change same order to 230

It hits 230 and I own the stock.

Is that consider just 1 trade or 2 for PDT?

edit:
I set the limit at $233 actually and got one.
Back up to about $250 now.
Figured that was about the bottom for at least the next hour.
Guessing it will end around $300 today.

Where are the gains??? Seems steady all over.

Robinhood increased GME shares and options again.

They raised $3.4 billion since Thursday to deal with the collateral increases, that's more money than they had raised since their inception.

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hopefully increasing gme limit to 20 helps it

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One more question, more related to service you use. Do they typically charge you fees if you have accounts with them and don't have any activity? Could I open one and not put money into it, just to use at a later date?

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RebelElite791 posted...

hopefully increasing gme limit to 20 helps it

It is only decreased because of short ladders, the percentage of buying is 80% can look it up anywhere. I believe Wednesday they have to cover by the latest.

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Vigrim posted...

Volume is very suspect and the trades of steady 100's are clearly their attempt at shorting further.

Yes something is wrong here



That doesn't make any sense at all.

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3PiesAndAFork posted...

Are they? They're both building up the hype and will cash out when it starts to die. Anyone who put real money into either of these are not holding. The whole bankrupt the billionaires and 1 doge = 1 dollar is all false hype to get people to hold and buy more. They're both going to come crashing back down any day now, and it's the novice people who jumped aboard the hype train who will be left holding the bag.

Mmm. Yeah, you're right. The only difference I would pick out is that GME, being a short squeeze, has and will continue to hurt institutional investors. While pump and dumps only target novice investors.

A lot of people definitely ate up the whole "crusade against the billionaires!!!" story but it wasn't a lie - they did lose billions. But I agree, when the squeeze is over there will be people who've lost a lot money. I think the question now is - have we reached that point? Is the squeeze/spike over? Are all the rocket emojis going on right now a pump and dump? Or are we still trying to squeeze?

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