Board 8 > Stock Topic

(+) Yeah! (+)

GNMK went up.

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Quite a bit. Along with EVRI.

Today is looking like a good day!

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Such a crapshoot.

Seems like one strategy is to wait for the market to close, buy stocks immediately after, and hope the stock opens up strong. Because once it opens, it is either going down or remaining stagnant from whatever it opened at.

DO NOT buy here. 50% unemployment is coming. This is going to be so much worse than everyone thinks...

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Stocks are going good this half hour. Wouldve been a great time to buy and sell.

I can't believe they started a oil war during this though.

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Corrik7 posted...

I can't believe they started a oil war during this though.

Russia likes chaos.

Dow losing a 1000 when starting almost a 1000 up is wild.

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Corrik7 posted...

Dow losing a 1000 when starting almost a 1000 up is wild.

I think people are realizing they don't want to hold stocks over the weekend and risk a big plunge on Monday.

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Hold hold hold. Market will go back up by summer...

Moonroof posted...

Hold hold hold. Market will go back up by summer...

lol no

summer is when we'll start to see the bottom

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SmartMuffin posted...

lol no

summer is when we'll start to see the bottom

Muffin are you short stocks? Or long put options?

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no (other than a pretty small short position in FB I took just because I hate them), im not a trader though

I have been in at least 50% cash for the last year though

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Muffin, your posts here express such a tremendous confidence that the market will go down. If you are really that confident, wouldn't it behoove you to invest in it?

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I'm still pretty conservative in general. Short selling is risky AF. I don't have the stomach for it.

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Sure, so how about some put options? If we're looking at a crash along the lines of the 1930s that should be very profitable without needing to risk a lot of money.

I'm not actually advising to buy anything, just feel like it's a bit too easy to make grand predictions of doom that you don't really expect to happen with a high probability.

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I'm not actually advising to buy anything, just feel like it's a bit too easy to make grand predictions of doom that you don't really expect to happen with a high probability.

Hey, that's fair. I'm all about people putting their money where their mouth is. That said, I think the fact that I've had a huge portion of my portfolio in cash (and haven't bought yet) represents that to a decent extent.

As far as options go, I just don't understand them well enough to feel comfortable investing in them, and don't really care to learn.

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EVRI was climbing up about 7% in the final fifteen mins. Then, at 3:59:55, it dropped 10%.

EVRI charges like $7 to use an ATM. If they've found a way to lose money on a business that should be virtually 100% pure profit, that would be really impressive.

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Classic Bear trap today. I almost took the bait but I lost so much money lately I am not willing to take bets anymore

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Jeez you guys have a lot of balls talking about day trading and shorting stocks.

I'm happy just buying things while they're low now and holding for a year or two. I just lost a few grand in one day on airlines, but the only day that matters is going to be June 2021 or whenever it's high enough to sell again.

Am I crazy to think that way?

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You said you put in five figures on airline stocks - assuming that means "only" 10k, I didn't even put in a tenth of that in Spirit Airlines, and I think at least a couple of the guys here are just learning about the market and probably speculating with no more than a few hundred bucks. You're putting a lot more skin in the game.

Though, to anyone who IS just learning this, please let me reiterate that speculation is a dangerous game, and if you're gonna do it, you should treat it as a gambling hobby hardly different than sports betting (ie: betting with play money and not expecting to strike it rich). Diversification is the name of the game, which is why the employee-matched 401ks and big mutual funds are generally the best investments out there. Also, you really should be holding for at LEAST 12 months, as that likely gets you a more favorable tax treatment on the gain, and obviously, the longer you hold the more dividends you likely get paid.

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Nelson_Mandela posted...

Jeez you guys have a lot of balls talking about day trading and shorting stocks.

I'm happy just buying things while they're low now and holding for a year or two. I just lost a few grand in one day on airlines, but the only day that matters is going to be June 2021 or whenever it's high enough to sell again.

Am I crazy to think that way?

I put half back in on Friday, and I plan to put the other half back in either next week or the week after. I think once the US hits big daily numbers (or someone big in government gets sick or dies because of how old they all are) we see another panic drop. I'm not 100% sure this happens though which is why I put half back in already.

But yeah, you are absolutely correct I think! There is no way that in a year or two these aren't huge gains overall. I am however, a coward, so yeah I don't have a heart strong enough for day trading. Some of my friends do it and I think it is just a way to mask their gambling addiction in something semi-legitimate.

Although I am currently thinking about shorting Gamestop. Nothing huge, obviously, but if there is one business I could see actually going completely bankrupt relatively soon because of this, it would be them. They were heading to death's door anyway, but this should speed it up significantly.

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Nelson_Mandela posted...

Jeez you guys have a lot of balls talking about day trading and shorting stocks.

I'm happy just buying things while they're low now and holding for a year or two. I just lost a few grand in one day on airlines, but the only day that matters is going to be June 2021 or whenever it's high enough to sell again.

Am I crazy to think that way?

No, you're investing, which is probably a lot more profitable in the long run than speculating. My comments about options are because if I was actually as confident as Muffin's posts sounded, I would buy put options. But if someone really had that level of confidence, it wouldn't be speculating, more like picking up money.

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The proposed US stimulus package seems to somehow correlate to an increase in travel and casino stocks. I guess well see if the package actually gets passed and whether those industries go up.

Super ignorant question.

It seems that whenever an insider buys shares of their companys stock, it attracts attention which in turn causes the stock to rise (people see an insider investing heavily which causes them to think something big will happen, so they too feel compelled to invest). Maybe the stock wont go up the same day, but within a week or so.

Knowing that, cant the insiders use this to their advantage? They invest, take a hit as the value goes down at first, and right before it goes up, another insider (whom theyre in cahoots with) invests an even larger amount. So large, that they cover the loss by the insider and then some.

This assumes that an insiders investment is enough to raise the value of a stock, and by a margin significant enough for the second investor to get it all back.

Moonroof posted...

Super ignorant question.

It seems that whenever an insider buys shares of their companys stock, it attracts attention which in turn causes the stock to rise (people see an insider investing heavily which causes them to think something big will happen, so they too feel compelled to invest). Maybe the stock wont go up the same day, but within a week or so.

Knowing that, cant the insiders use this to their advantage? They invest, take a hit as the value goes down at first, and right before it goes up, another insider (whom theyre in cahoots with) invests an even larger amount. So large, that they cover the loss by the insider and then some.

This assumes that an insiders investment is enough to raise the value of a stock, and by a margin significant enough for the second investor to get it all back.

An insider buying can raise the stock through two different mechanisms. One, outsiders see the insider buying and think this portends good things for the company. This may have a delayed effect. Two, sending a large buy order itself immediately drives the price of the stock up, because the demand for the stock has increased. Conversely, selling a large block of stock immediately drives the price of the stock down. Imagine if Bill Gates wanted to sell all his Microsoft stock at once on the market without a period of time to advertise that he was selling this stock - the stock would crater because there aren't people looking to buy tens of billions of dollars worth of MSFT stock all at once. It would only get enough attention to find buyers for all those shares after the price plunged, which would cause Bill Gates billions in losses from poor trading technique.

What you are describing would probably only work if the person working with the insider was not an insider so they didn't have to disclose their trades. Then, they could buy before the insider and profit when the stock went up after the insider publicly bought. But my guess is, that would be banned by the laws against insider trading.

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I figured as much. Thanks for the lesson.

Nanis23 posted...

Not to mention people putting money in meme stocks and see them crash and burn and can't do anything about that

Tf is a meme stock?

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MarkS222222222222222 posted...

Tf is a meme stock?

TSLA

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I put $31.5k into EVRI on Friday noon. I watched it go down around 20% from when I invested. This morning it zoomed back up and I sold ASAP. Made around $500 but I was sweating over the weekend. Definitely not doing that again. Im sure itll go up higher than I sold it at, but I wasnt chancing it.

I put a lot of money into EVRI at $1.80

I am pleased.

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Nice!!!

I am not even thinking about selling any time soon either tbh (in terms of price, I might sell it if it climbs sharply enough), just because the panic around it was reeeeallly not founded and I think the market corrects overall for awhile still.

But unless it tanks again this means I don't need a SB loan anymore so whoo

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I agree with your logic. I just dont want the $31k to be tied up even though its not money I need. Im just a scaredy cat. I fully expect EVRI to be back around $7 at the minimum in a few months maximum, certainly whenever this coronavirus issue goes away.

Yeah I can understand that, but given this price I don't look at it as $31k tbh. Because it's never, ever going to go below its low of 1.50 again as there wont be any more panic as bad as before, so really you're only looking at an exposure of 17k at most and really an exposure of probably around 6k at most over the next little bit. Versus, as you said, I won't be surprised if it finds its way to 7, but my bare bones "okay if I want to sell I'll sell" is at 5 if I want something a bit less volatile.

I don't know how you don't stick 31k in tbh. If I had another 31k to stick in I'd do it. Hell, I'd absorb 3000 in losses if you let me keep it in there for 3 months!

In fact, to tell you how stupid the drop on this stock has been it is STILL down for the last 7 days. Like honestly man if you don't actually need that money stick it back in during today when it hits a little bump sometime (like if it gets down to below 3.20) and then just don't look for awhile!

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I know youre right. You couldnt have explained that anymore eloquently, either. But something about knowing my hard-earned money isnt being threatened is comforting, even though I am very confident that itll only go up. I feel inherently bad about compromising it, to the point that I feel like I am gambling and am greedy.

At least put like 10k in. Come on, you can do 10k! Or send me 10k and I'll do it for you :P

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Moon I think you need to get in touch with the concept of a bankroll!

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To give you guys an idea of my paranoia, I literally had dreams / nightmares from when I invested the money on Friday about the stock going down 30%. Then I started thinking about how some companies may never recover and go bankrupt from this, especially a casino company that relies on human interactions in large gatherings. THEN I started thinking even if I dont make money quickly, that Ill be checking the stock everyday for months or even years which is added stress.

Im new to all this so maybe Ill get over this massive panicking, but yeah.

Also, would investing in similar-field stocks like WYNN or LSV be more prudent than EVRI?

Moonroof, your happiness is more important than expected profit in the market. So if you were having nightmares, you probably had too much in that stock.

As far as casino stocks, I don't know if EVRI does much business outside the US. WYNN and LVS are both heavily Asia-centered though. I recall (don't quote me) before this crisis they were getting something like 70-80% of their revenue from Asia. They got hit first when Macau closed, but now that it has reopened, I would guess that should make them more able to withstand Vegas closing for a while.

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If I learned anything, its to not look at the results for awhile. That, or day trade. You cant have it both ways!

I had $70k in the stock market when the USA killed Soleimani
I fucking couldn't sleep because it was Friday and we don't have Stock Exchange at Friday here in Israel so my money was "hostage" to the whole weekend
Thanksfully nothing major happened

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Thats how I felt (buying Friday, being forced to wait the entire weekend). Not a good feeling.

I will say this though. The stock market is a far better alternative to any casino gambling. The more research you do, the more likely you are to profit. Ironic that a casino stock helped a few of us profit.

DoomTheGyarados posted...

At least put like 10k in. Come on, you can do 10k! Or send me 10k and I'll do it for you :P

Lol. Imagine I gave you the $31k, and in X amount of time you promised to give me $32k regardless of how the investments panned out.

I would do that tbh

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https://i.imgur.com/FTklL52.jpg

The only issue is that Id still be without that money during that time.