Board 8 > Stock Topic 29

(+) Yeah! (+)

I think it's time for me to buy back into CNK to piggyback off another AMC squeeze.

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Wow, I can't believe I just now learned wash sale rule doesn't apply to crypto. Sell that dip for a loss and buy back immediately.

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Wtf I'm in the money on AMC (bought at 14.93 during the boom and held)

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Sunroofs recommendations:

• GS if you want conservative. Youll steadily get small gains over time. You should never be down more than 5% barring something crazy happening with the market.
• Swap Overstock with Zillow. OSTK has had a hot streak but I reckon a dip will soon come. Z on the other hand did we on its earnings about a month ago but didnt rise. According to its forecast, its due for an approximate 70% gain in 12 months.
• Etsy and Pinterest for slightly more speculative picks. Both are enduring a dip and have good stats to suggest a comeback.
• KSS should still increase sooner than later. Still a good choice.

Dunno if I wanna hold Nvidia through earnings

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AMC and GME still going to the moon

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OSTK still going hard too. Damn

Bought PINS on its dip this AM.

FUBO going way up today for no real reason

More evidence the price it was at was an illusion and it was just getting shorted to hell since it's following the AMC and GME trends

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OLO looking great.

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Liquidated my 2 SPCE 25cs today for about 200% gain (tripled my money, but my money was only $200)

Used part of the profits to buy 9x 31cs that expire at end of week. Not sure what I'll do with the rest. Part of me is thinking Blackberry gets squeezed again and to get some end of next week calls because why not go back to the well but eh

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I had a crypto token that I bought at the top about a month and a half ago (I was trying to ride it up when it was breaking new ground after being listed on coinbase). It was just bad timing, but since I had it at the top I had to ride it down and down and down and down, picking up more at each new significant drop. And then a week ago during the big dip I picked up some more. At that point my total amount in was 5x more than my original purchase.

And "at long last" (I know it's only been 45~ days, but that's a lot longer than I've typically needed to hold) I was able to take a 2% profit by selling for 48% below my original purchase price.

Feels good to have that no longer tied up.

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Forceful_Dragon posted...

I had a crypto token that I bought at the top about a month and a half ago (I was trying to ride it up when it was breaking new ground after being listed on coinbase). It was just bad timing, but since I had it at the top I had to ride it down and down and down and down, picking up more at each new significant drop. And then a week ago during the big dip I picked up some more. At that point my total amount in was 5x more than my original purchase.

And "at long last" (I know it's only been 45~ days, but that's a lot longer than I've typically needed to hold) I was able to take a 2% profit by selling for 48% below my original purchase price.

Feels good to have that no longer tied up.

Be careful not to draw the lesson from this that you will definitely win eventually if you keep doubling down enough. It can be a dangerous lesson to learn.

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HeroicCrono posted...

Be careful not to draw the lesson from this that you will definitely win eventually if you keep doubling down enough. It can be a dangerous lesson to learn.

This is how I lost $500 on BYND. I'm gaining some of the money back, but I'm still out a good chunk of my portfolio. Additionally, the money I put there could have gone into better performing stocks or ETFs so that I'm gaining money instead of getting back lost money months later.

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HeroicCrono posted...

Be careful not to draw the lesson from this that you will definitely win eventually if you keep doubling down enough. It can be a dangerous lesson to learn.

The lesson is that if I get my initial stake down to around 2% of the money I have allocated for crypto then I could quintuple down and still only have 10% allocated into the underperforming token. Better to have 10% of my stack invested into a token that dropped to sub-30% of it's initial value if the alternative is to put in 10% initially. It might take months yet before that token will profit if all I had was my investment at the initial price. Heck it might take years to get back that high if it ever does.

The other lesson is to be more cautious if I want to play the "recently listed on a new exchange" hype.

But if my initial position is "I'm paying for this because I think it will be worth slightly more than the price it's at", then I'm certainly patient enough to wait for it to be worth 52% of the price it was at when I first decided to buy.
To give a stock perspective, if I was willing to be on Disney being worth slightly more than it is right now (let's say 181~ rather than 176~) then I would bet a LOT MORE if the gamble was whether or not Disney could get back to 92.

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Certainly, that's absolutely correct given that your assessment of the value of the stock hasn't changed. But on the other hand, given that it's still way below your target value, why sell all of it? Seems like it should still be a good value and worthy of some investment less than 10%.

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time is money. Why tie up funds in an asset that just saw a large gain and is liable to pull back when I could instead find an asset that has recently dipped and is liable to turn an additional profit much sooner?

Edit:
To be clear I understand that it is incredibly possible that at some point I will back the wrong dead horse and in an effort to chase my 2% down, but I'm confident that my repeated small gains will more than offset should that tragedy strike.

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https://en.m.wikipedia.org/wiki/Martingale_(betting_system)

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I am familiar with martingale. And I am neither doubling the entire "bet" when I increase my position, nor am I increasing my position a potentially infinite number of times.


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It's the same concept though.

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Amc and gme doing funny things again

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Reducing your cost basis when an asset drops in price is not the same as "betting your entire total losses thus far + an additional unit".

One of those things results in parabolic amounts of money being required.

The other involves you reaching a position where the price has bottomed out and you've invested 4 or 5x your initial stake.

That doesn't seem like the same concept at all.

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The danger lies in the idea that there is something special about breaking even on a trade such that you close the position once you have gotten to even. The market doesn't know your cost basis and doesn't care, so neither should you. I am not saying that you are doing that; just that it can be very alluring and therefore dangerous.

There is a lot of value in the idea of increasing one's position as a stock falls provided your target price is still the same. It becomes a better investment because the expected gain is greater. Conversely, sales can be done gradually as the stock rises. It's usually not going to go from great investment, high allocation, to sell all overnight.

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20x Sundial Growers 6/25 1c

Les gooo

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woah BYND

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Also ROOT and WISH

Going full ape here. One will work

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OSTK still going up. Wow.

PINS was a good buy so far too. We all seem to have some winners.

Today is a good day.

All green for me, except for FIVE, which is bouncing around 0.

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Why didn't I put $500 into AMC last week like I considered doing? Damn it!

Up 250% since I bought 4 shares at $9.16 though

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ripperoni at my AMC calls being assigned at $13 when the price is $25

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I bought a 13.5 AMC call expiring last Friday, but didn't want to pull the trigger on a call for this week because it was a little more than I was willing to gamble. That same call is now worth 1400 dollars.

neat

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Sold 4 out of 9 of my SPCE $31 weeklies to double my money. Let the rest go to the moon.

MAGNIFICENT.

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Lopen posted...

MAGNIFICENT.

I'm assuming you said that like The Collector from Infinity War.

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paypal is offering $25 in credit for buying $25 of crypto right now.

I bought $25 and sold for $24 one minute later. Absurd transaction fees

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Magnificent showing from SPCE, GME, and F today. I don't have the leader (AMC), but I did buy some CNK. At some point, hopefully the market will wake up and realize that CNK is trading at a big discount relative to AMC.

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AMC is nuts. Higher than it was earlier in the year!

Forceful_Dragon posted...

I'm assuming you said that like The Collector from Infinity War.

Close

Richter Belmont from Castlevania SotN

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I wonder if I should close out my non-SPCE space stocks at large losses. Probably not, but having all these small positions is cluttering my account display.

Also, anyone here still invested in airlines/going back to them? I'm thinking about it.

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Only close them if you have better ones to go into.

I havent considered airlines lately. They could be a good play but I havent checked their prices lately.

I should have listend to anyone that believed in AMC
This shit is nuts
Almost ATH for a company that was almost bankrupt

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wow good on those that kept AMC

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I only have 8 AMCs but hey money

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I only have 4 and I've made $93 in profit from it.

Not bad for what cost me $9.16 per share and less than $37 overall.

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Whoops sold AMC a week too early

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AMC dipping.

https://gamefaqs.gamespot.com/boards/8-gamefaqs-contests/79483078