Board 8 > Stock Topic 5

(+) Yeah! (+)

So wait, if you're a pattern day trading account...you can't just make unlimited day trades, can you?

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You could. Whats frowned upon is buying and selling the same stock several times in one day.

Got skittish, sold a bit over half now.

But I now I have 100 shares of LK at 0 risk to me as I've recovered my initial investment . If it falls back down I can buy more.

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I like your style, Lopen. Wish I had played GNUS that way, taking my 10k initial investment out when I could.

Moonroof posted...

You could. Whats frowned upon is buying and selling the same stock several times in one day.

By frowned upon you mean there are actual consequences, right?

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Don't screw with tax law tbh

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I bought gnus at 930, wanted to sell at 940, and woops there goes my money

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Lol getting busy at work, guess I should have put in a safeguard if it fell under 11.

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DoomTheGyarados posted...

Don't screw with tax law tbh

Definitely not considering doing it personally. Was just curious and figured there had to be some rules. Because otherwise the market is broken.

greengravy294 posted...

I bought gnus at 930, wanted to sell at 940, and woops there goes my money

oh shit man, I hope you didn't have too much in

https://www.benzinga.com/analyst-ratings/analyst-color/20/06/16180585/citron-on-genius-brands-the-lowest-form-of-retail-investor

Once GNUS went mainstream, the free ride was over.

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ZI opened up DOUBLE at $41. Pissed. I set my limit $4 over what it was supposed to open at ($21) and didnt get it. Whatever.

In other words, my limit of $25 never hit since it opened straight at $40.

StartTheMachine posted...

Definitely not considering doing it personally. Was just curious and figured there had to be some rules. Because otherwise the market is broken.

oh shit man, I hope you didn't have too much in

https://www.benzinga.com/analyst-ratings/analyst-color/20/06/16180585/citron-on-genius-brands-the-lowest-form-of-retail-investor

Once GNUS went mainstream, the free ride was over.

Not much

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I missed the big fuss on GNUS, so I'm just going to stay in for now. LK rising back up quickly, let's see how close it can get to what I bought it at

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https://thumbs.gfycat.com/CreativeSimilarDegus-mobile.mp4

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We cleared a barrier at $3.50. Now we've cleared another barrier at $4.40. To the moon with this corrupt coffee!

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I think the CEO of Genius is supposed to have some big news tomorrow, hopefully it's good for that stock. And who knows, it could legit blow up when their channel launches on the 15th.

Also LK....bless thee, Lopen.

E: At this point I wish I went in with all my money instead of half. But I don't think I've the balls to do it now.

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And you wanted to sell

Back to $50 with this stock.

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Lopen don't say things like that did you not just see the monster that GNUS made me become

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NKLA opened today. Has potential to be the next Tesla. $34 share now. Could be big long term.

Put 5% of your money in that stock and sit on it for one to two years. Thank me then.

Will keep an eye on that one, Moonroof.

https://seekingalpha.com/article/4350685-now-is-right-time-to-go-long-luckin-coffee

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AAL good long term investment Chris says.

Goes up $1.50 since buying.

Okay fine just give me money now.

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AAL is on a tear. How long will it last?

There should be a dip coming sooner or later. When it does, Im investing $20k in a bank, airline, Cruise line line, and tech stock. Then Im hanging up the hat and holding for months/years.

Moonroof posted...

Then Im hanging up the hat and holding for months/years.

I feel like you say this all the time and then you sell the same week lol

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Oh damn, LK hit my stop limit. Should've sold for a few Gs around 4 - 4.40.

E: Oh it went all the way up to 4.88, damn.

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Menji posted...

I feel like you say this all the time and then you sell the same week lol

Agreed there lol

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LK getting hammered in the last hour. Gave up more than half its gains for the day. Darn it.

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Moonroof annoys me because the easiest money maker ever was ncl at 10 and aal at 10. 50k in each and just wait six months. But he just didn't want to

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As if anyone in this topic, including yourself, has held money for longer than three months let alone six. Most of the stocks here are not recommended to be held for six months, we are day traders at this stage. Once things die down, long holding is the game.

Ive also learned a lot about the market thanks to day trading and not holding. Yes, I and everyone else here could have made way more money by investing in early April and holding until now. But there was much paranoia about the market and its volatility, and it made more sense to day trade to a degree.

Ok if you held for 2 months and then sold lol

Like there are plenty of stocks still that you can just hold. Thats what I am doing with aal now actually. Just waiting to cash my 7000 check when it hits 25

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Thats what I just said I intend on doing with those four industries.

Do it now silly. Then let it go. I literally have an roi of 95% let me help yoooou

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I reckon a dip will happen. Id rather buy in at a lower price than when all those industries just boomed 10+%

On the other hand they are still super cheap. For a guy who likes 2% profits you sure don't like money.

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That 2% profit would be 1% or less if the stocks dip after I buy!

Yeah but like if you bought aal right now and dropped 40k on it you i am certain it would be at least 24 in a year.

I put 11k into it myself!

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Moonroof this sell for a 2% gain strategy has a major flaw which is that one big loss will wipe out like 40 gains.

I once had a run of 30 consecutive winning blackjack sessions, using basically this strategy (leave when you are up a little, stay and play if you are losing until you win it back). The problem is that you are not changing the underlying odds of the game, you are just concentrating the downward variance in one giant defeat while spreading the positive variance over many small increments.

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Well, guess I'm holding onto LK for at least another day. I don't want to sell at $4 after it almost touched $5. Back to $7 with you!

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Yeah I don't hold anything because I'm playing with small amounts. I'd rather leverage high risk plays and try to build the small amount into something appreciable. More fun that way.

If I was content to "just" double money I'd probably just dump it all in Boeing and wait a while. Like if I have 50k that's where the safe money is. I actually find the AA play a bit risky because I feel like an airline going bankrupt is not unheard of but yeah Boeing seems safe. Alternatively maybe just play all the major airlines at once. All of them doubling would offset the risk of one bankrupting.

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The big airlines will not be allowed to go bankrupt. We have allowed them to grow too big.

Oh. I moved over to TD Ameritrade and realized I had 4 bucks left in the account so I bought a wildly out of the money option.



Huh

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For the record I made a 12% gain on WMG, not 2%. I only put in $20k, not $100k

So, today was actually a record volume day for LK. 286 million shares were exchanged today, which is more than the 264 million shares the day the fraud was revealed. Actually, 286 million shares is more than 100% of the shares in the company. Lots of people jumping in and out and back in!

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I have this weird feeling LK is gonna open at like $8 tomorrow

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Will the green streak continue? Going down to the wire.

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Yeaaaah, I dipped back into LK and you know what...I'm not touching it now. Stop limit active, let's see if we can get a GNUS 2.0.

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LK looking good after hours today. How bullish are you all planning on playing this one? Don't think I'm going to be near as bullish as I was on GNUS, since I could've gotten such a better deal. Here's hoping they announce some new, competent management and whatnot!

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I was going to sell today if it went above $5.20 or so. But now.....I think I'm holding out for more. I think my thinking is that after such a big gain there is almost always a sizable fall before the next leg up. Well, we had that big fall today from $4.90 to $3.30. So it might not be coming again.

If the fraud turns out to be fairly isolated, this stock is worth $20+ per share.

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If you guys had some extra dough to invest in something that's not stocks right now, would you pick something like an ETF or another instrument?

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