Current Events > Stock Market General #11

(+) Yeah! (+)

Hexenherz posted...

the two theories are

it looks like AMC
and
they announced a deal with Tesla

Either one is illegal manipulation

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anttttt posted...

can somebody explain limit orders to an idiot like me? i'm already up $500+ on amc and i want to add this $20 that i have left in my account until next week

do i just enter "$20" as the limit price and enable executing in extended hours?

Someone correct me if I'm wrong but...

A limit order during after hours basically means the broker will buy $20 worth of shares at the next available price. During normal trading hours you'd be able to see the share price that you're purchasing at.

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darkphoenix181 posted...

I mean, what else do they have?
They SEC sided with retailer investors today:
https://www.cnbc.com/2021/01/29/sec-reviewing-recent-trading-volatility-amid-gamestop-frenzy-vows-to-protect-retail-investors.html
"The SEC vowed to to protect traders and promised to scrutinize actions taken by brokerages that may unduly inhibit their ability to trade certain securities.

It is non-action but at the very least it was more than silence.

And congress is going to ask RobinHood, "why exactly did you limit GME?"

They will say "the stock is volatile, we had to protect our customers!"

Then congress will say "but this other stock is volatile and was never limited."

Now they have nothing to say.
Except that they can say "that may have BEEN the case, but we updated our policy and now limit all stock like that such as AMD"

Yeah I get that but I have to believe that at least one person in Congress will say, "So, you just arbitrarily limited four stocks one day. Then the next day you just happened to decide to update the policy and limit even more stocks under this new criteria you created. From where I'm sitting, you're like the kid who got his hand stuck in the cookie jar and were just trying to cover it up."


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Brokerages regularly restrict volatile stocks, as far as I understand it. Are you guys saying that AMC was the first ever stock that Robinhood restricted?

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So how long do we hold for AMC?

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Esrac posted...

Dogecoin fucking me up. Bought as it was rising, now I'm down 15%. Baited me.

Bro its stocks lol. Itll go back up

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anttttt posted...

can somebody explain limit orders to an idiot like me? i'm already up $500+ on amc and i want to add this $20 that i have left in my account until next week

do i just enter "$20" as the limit price and enable executing in extended hours?

Limit means you set how much you want to buy/sell and the maximum/minimum you're willing to buy/sell for. If it hits that price, the order executes.

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Hexenherz posted...

Yeah I get that but I have to believe that at least one person in Congress will say, "So, you just arbitrarily limited four stocks one day. Then the next day you just happened to decide to update the policy and limit even more stocks under this new criteria you created. From where I'm sitting, you're like the kid who got his hand stuck in the cookie jar and were just trying to cover it up."

Nothing will happen to robinhood from a legal or government punishment perspective. The big businesses will win. The silver lining is that this actually will completely annihilate their userbase as people continue to pull out. Normally "boycott (app/place/thing) it sucks!!!" never works, but this will be the rare exception.

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InhumaneRaider posted...

So how long do we hold for AMC?

I've been told at the very least to wait until Monday.

I'm gonna try and hold towards the end of next week

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RchHomieQuanChi posted...

I've been told at the very least to wait until Monday.

By whom and why?

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Esrac posted...

Dogecoin fucking me up. Bought as it was rising, now I'm down 15%. Baited me.

Give it time and don't panic sell is basically this stuff in a nutshell. Just sit back and wait. It's not a game of instant gains. Its patience and holding.

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COVxy posted...

Brokerages regularly restrict volatile stocks, as far as I understand it. Are you guys saying that AMC was the first ever stock that Robinhood restricted?

They only restrict stocks to protect investors in case a company is being investigated, is tanking, has committed white collar crimes, or anything else like that, not to blatantly fuck them over because they made a lot of money.

And yeah, GME and AMC were the first ones RH ever restricted trades. Every day before last week was essentially "hey everyone, go nuts with your wallets!".

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I'm only asking because I think I might invest for the long term with AMC

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Hexenherz posted...

Yeah seriously lol They're supposed to have one of the best developed platforms under the hood though

Also the app was working for me just fine earlier and now it's acting funky, things aren't loading, it's not showing my 5 AMC stocks (lmao) in my portfolio but it shows just fine on the website. Hope it's just a temporary thing, gonna be annoying right fast if it doesn't.

oof. Yea I saw the app and heck it looks ancient and hard to browse too. I'll stick to the site for now.

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COVxy posted...

Brokerages regularly restrict volatile stocks, as far as I understand it. Are you guys saying that AMC was the first ever stock that Robinhood restricted?

Do they? Or does the New York stock exchange do that?

Actually Chris Cuomo answers that question here I believe.

https://www.youtube.com/watch?v=6fs_lyGn4YA

Basically, Robinhood shouldn't be limiting the stock until the New York Stock exchange says they suspect foul play or the like in the company the stock is of.

Btw timestamp is at 3 mins where Chris Cuomo explains that it is the New York Stock exchange who controls such limits.

Nobody needs to watch that to know they're full of shit.

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RAAAWWWRRR posted...

oof. Yea I saw the app and heck it looks ancient and hard to browse too. I'll stick to the site for now.

lmao yeah I actually had to put it in landscape view so I could try to see my own gains/losses as opposed to just the stock's performance.

Really excited to transfer all my shit over to here though, it's gonna be stacked.

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Is it true that crypto markets are isolated by platform? does this mean what I have in RH is effectively screwed because theyre trying to cheat people out of the ability to buy crypto?

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So is doge belly up?

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I guess GME is not dipping below $300 after hours and is stabilizing between $310-$330. This is huge.

kage_53 posted...

I guess GME is not dipping below $300 after hours and is stabilizing between $310-$330. This is huge.

it's gone suborbital!

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Hopefully Robin Hood can get more capital or the DTCC restrictions can be loosened a bit, the meme stocks are going to explode if that happens. Now that some major companies like GM and Starbucks are also getting throttled, as well as the political pressure from everyone except Elizabeth Warren, they better lift this on Monday or Tuesday. If they hold this limit where you can only own a few GME stocks in your account for weeks, that might kill the short squeeze.

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tag

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I'm going back into AMC and GME on Monday if they fully lift the restrictions if not I'm out.

Not enough volume to bring these up especially AMC with these BS restrictions.

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So I sell Monday, probably, and wait however long for my funds to be settled to transfer, has anyone liquidated out of RH before? What was your waiting time for funds to be available for transfer, just curious
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AngelsNAirwav3s posted...

Hopefully Robin Hood can get more capital or the DTCC restrictions can be loosened a bit, the meme stocks are going to explode if that happens. Now that some major companies like GM and Starbucks are also getting throttled, as well as the political pressure from everyone except Elizabeth Warren, they better lift this on Monday or Tuesday. If they hold this limit where you can only own a few GME stocks in your account for weeks, that might kill the short squeeze.

Just force all trades and options to be cash covered. Then take that money and pass it to DTCC for their collateral requirements. The PDT restrictions should make the maximum possible loss very reasonable for DTCC.

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I'm legit hoping that RH will eventually lift the restrictions.

I have over 16K Dogecoins. How the hecc am I supposed to transfer that to Fidelity? Is it possible?

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apocalyptic_4 posted...

I'm going back into AMC and GME on Monday if they fully lift the restrictions if not I'm out.

Not enough volume to bring these up especially AMC with these BS restrictions.

They want you to be out though.That is why they restricted it. Gotta hold!

RAAAWWWRRR posted...

I'm legit hoping that RH will eventually lift the restrictions.

I have over 16K Dogecoins. How the hecc am I supposed to transfer that to Fidelity? Is it possible?

Fidelity doesn't have dogecoin. Plus I think crypto is locked to whatever app you go it on. You might need to liquidate crytpo to get your money if you're set on divorcing yourself from the app >_> Someone please confirm this though

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darkphoenix181 posted...

They want you to be out though.That is why they restricted it. Gotta hold!

Naw I lost sleep the last few days day trading this I do not have diamond hands sadly I took my little profits earlier today and am contempt.

If pre market sales are up on either this weekend it's going to tank Monday morning in sell offs that's the time to buy back in.

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https://www.cnbc.com/2021/01/29/robinhood-is-still-severely-limiting-trading-gamestop-holders-can-only-buy-one-additional-share.html

Why starbucks? Why beyond meat? Why AMD?

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Those who use Fidelity, can you help answer:

1. How long does it take fidelity to verify an account?
2. How long does it take them to verify a bank account so i can make transfers?
3. How long does it take for that money to be available for purchasing stocks?

The exchange i regret signing up for has been giving me headaches for a week and I still cant buy a damn thing due to the wait times. I wonder if switching to Fidelity would work.


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Tactical_Spork posted...

Is it true that crypto markets are isolated by platform? does this mean what I have in RH is effectively screwed because theyre trying to cheat people out of the ability to buy crypto?

does anyone have the answer to this lol

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NeonOctopus posted...

Fidelity doesn't have dogecoin. Plus I think crypto is locked to whatever app you go it on. You might need to liquidate crytpo to get your money if you're set on divorcing yourself from the app >_> Someone please confirm this though

You can just transfer the dogecoins into a different dogecoin wallet. You just need to find who else has it and open a wallet there. There will be a transfer fee for this.

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Tactical_Spork posted...

does anyone have the answer to this lol

Triple post lol. I believe they are isolated in the sense that you can only buy/sell from the people that use the same exchange. But your coins are not tied to them. You should be able to transfer them to a different wallet (see above post) for a fee.

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Thanks, thats what I meant and what I was worried about. What other platforms offer doge?

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Just found out that Binance supports DOGE since it's basically a cyrpto site haha.

I just wish I can transfer my 16K coins from RH to Binance if it's possible.

RHG.. FFS please just lift the restrictions.

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Anyone successfully transfer from RH to Fidelity yet? Is it easy enough?
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https://twitter.com/ihors3/status/1355226736733073416?s=20

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Tactical_Spork posted...

Thanks, thats what I meant and what I was worried about. What other platforms offer doge?

The only Im familiar with it is Binance which has a crapton of coins including doge. It was pretty good when I used it but keep in mind if you live in the us you need to go to binance.us and that it is not available on all states (hence i cant use it anymore).

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krazychao5 posted...

https://twitter.com/ihors3/status/1355226736733073416?s=20

What should that mean, exactly?

Esrac posted...

What should that mean, exactly?

It means hold the goddamn line

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The more I look into it, the more it seems like Robin Hood is just way over their head, they decided to make their own clearing house (like Charles Schwab and the big platforms) instead of using a 3rd party clearing house. We Bull and everyone else was able to come back so quick because they use a reputable 3rd party CH to back their trades.

I wonder how quick the mass exodus from RH can happen to other platforms, hopefully early next week. RH might be dead in the water unless they get a massive influx in capital ($1 bil raised yesterday didn't do shit for them) or the meme stock trend dies out.

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AngelsNAirwav3s posted...

The more I look into it, the more it seems like Robin Hood is just way over their head, they decided to make their own clearing house (like Charles Schwab and the big platforms) instead of using a 3rd party clearing house. We Bull and everyone else was able to come back so quick because they use a reputable 3rd party CH to back their trades.

I wonder how quick the mass exodus from RH can happen to other platforms, hopefully early next week. RH might be dead in the water unless they get a massive influx in capital ($1 bil raised yesterday didn't do shit for them) or the meme stock trend dies out.

If that was the case, why couldn't CEO just say this?

Instead he was all over the place. So this makes me think this is not actually why the are limiting.

AngelsNAirwav3s posted...

The more I look into it, the more it seems like Robin Hood is just way over their head, they decided to make their own clearing house (like Charles Schwab and the big platforms) instead of using a 3rd party clearing house. We Bull and everyone else was able to come back so quick because they use a reputable 3rd party CH to back their trades.

I wonder how quick the mass exodus from RH can happen to other platforms, hopefully early next week. RH might be dead in the water unless they get a massive influx in capital ($1 bil raised yesterday didn't do shit for them) or the meme stock trend dies out.

Yea the signs seem to point to Robinhood going about of business. If it were just the meme stocks their volatility excuse would have made some sense. But once GM, SBUX, and BYND got added they in trouble. They might have money issues.

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darkphoenix181 posted...

If that was the case, why couldn't CEO just say this?

Instead he was all over the place. So this makes me think this is not actually why the are limiting.

I am definitely just speculating, but there is a lot of detail in this interview:

https://finance.yahoo.com/news/robinhood-ceo-refutes-game-stop-hedge-fund-conspiracy-theory-and-reveals-what-actually-happened-234600703.html

Obviously he didn't outright say they are fucked, but he also didn't say when people will be able to trade freely again. It just seems that other trading platforms came back within a day for trading, while RH added dozens of more companies to the list, and basically made it so you can't buy anything in those stocks. Only 1 stock per company, as long as you don't own any already.

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So I tots forgot I have a dogecoin wallet from mining back in 2014. However, it's encrypted and locked and I don't remember the pass at all, lol. Has about 90k in it. bummer