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Stonk Madness
#31
Bought back my 2/19/21 $20 GME Puts for $0.46/contract (received $0.79/contract when I sold them). My only remaining meme stonk is PLTR.
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#32
I think this is short report day. That should move the stock.
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#33
Still checking in on Reddit daily and it's getting painful to watch these fools show up a day late and buy the top. Add some weed bag holders and they probably jst lost the sympathy of Congress at the hearing next week. Their successful attempts at pump and dump are just as illegal as what the HF shorters are doing.
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#34
(02-11-2021, 12:05 PM)fenders53 Wrote: Still checking in on Reddit daily and it's getting painful to watch these fools show up a day late and buy the top.  Add some weed bag holders and they probably jst lost the sympathy of Congress at the hearing next week.  Their successful attempts at pump and dump are just as illegal as what the HF shorters are doing.

There are over a million people subscribed to wsb. I have no doubt that pretty much every hedge fund has at least one or more employees with active accounts on wsb. All sorts of stuff getting pushed on there by anonymous sources. At this point, although it is big enough to move markets when a coordinated push happens, it is also too big and too disorganized to be efficient at it. 

They may spike or tank the odd ticker or two every once in awhile, but at the end of the day, it is just another source of information to the market, like Motley Fool used to be, or Seeking Alpha.
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#35
(02-12-2021, 10:28 AM)Otter Wrote:
(02-11-2021, 12:05 PM)fenders53 Wrote: Still checking in on Reddit daily and it's getting painful to watch these fools show up a day late and buy the top.  Add some weed bag holders and they probably jst lost the sympathy of Congress at the hearing next week.  Their successful attempts at pump and dump are just as illegal as what the HF shorters are doing.

There are over a million people subscribed to wsb. I have no doubt that pretty much every hedge fund has at least one or more employees with active accounts on wsb. All sorts of stuff getting pushed on there by anonymous sources. At this point, although it is big enough to move markets when a coordinated push happens, it is also too big and too disorganized to be efficient at it. 

They may spike or tank the odd ticker or two every once in awhile, but at the end of the day, it is just another source of information to the market, like Motley Fool used to be, or Seeking Alpha.
They apparently also "collectively thought" this trick was going to work on command every few weeks.  HF seemed caught a little off guard on GME etc.  It's not too hard to see it coming on day one and protect yourself for a few days before the imminent fall.  

Watched a guy lose $18K of his $20K port yesterday on weed stock calls that expire today.  Lost most of it in under an hour.  I don't remember it quite this stupid during the tech bubble.  Not quite the same as a kid spending his $1K going long on a bunch of BK bound garbage.  It's entertaining but still cringeworthy.
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#36
Sigh. Investing isn't supposed to be gambling (or, at least, no more than 5% of your portfolio). Seems like each generation has to learn this all over again.
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#37
(02-13-2021, 07:50 AM)ken-do-nim Wrote: Sigh.  Investing isn't supposed to be gambling (or, at least, no more than 5% of your portfolio).  Seems like each generation has to learn this all over again.
Yup.  I got my face torn off in the 2000 tech bubble.  What I was doing was NOTHING like what these kids are doing.  I was investing in very profitable companies that were sporting high PE's.  Earnings pulled back to half and I had already paid 3X too much for previous earnings.  

Today is gambling on steroids for some.
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#38
amazing--i must be living under a rock cause i missed this whole gme thing till it was over lol

i looked at gme months ago when it was under 5 per share--thought man--this company is going bankrupt and never looked again till fairly recently

that one guy with the youtube vids? cat something...he had over 31 million!! if true what happened to him?
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#39
You have 2 day tops to get in and get out. That's it. You stay in any longer then that and your winnings are gone lol

First there was GME, AMC, SKT, EXPR, KOSS and the list goes on (non of these companies are investable except SKT)
Then you had silver stocks (that lasted 6 hours) lol
Finally the weed stocks (There are some good companies here but not all will survive)

But I look at it like this.... When they go crazy and buy these stocks we get good dips in the good names
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#40
(02-14-2021, 08:55 AM)rayray Wrote: amazing--i must be living under a rock cause i missed this whole gme thing till it was over lol

i looked at gme months ago when it was under 5 per share--thought man--this company is going bankrupt and never looked again till fairly recently

that one guy with the youtube vids? cat something...he had over 31 million!! if true what happened to him?

"Roaring Kitty" or Deep F*** Value cashed in $7M that I am aware of.  He also rode some of it to the top and then back down.  I believe he is testifying before Congress on Friday.  It can be established he has been doing some good DD for over 6 months.  An activist got involved lately and GME was moving up some in a legitimate manner do an improved business.  

Kitty will be OK in the end, though I think he did participate in some of the MOMO hype for a few days.  I ran across another guy on the net that had been a GME fan for a long time and doing solid research.  He said a few hedge funds even contacted him to compare info.  

Guru is right.  A few days max and you better be out.  I'm afraid to do anything like this if I am even at work and might be distracted and unable to trade for a few hours.  Those weed stock drops were epic.  No second chance to get out.  At least not without an extended hold deep in the red.
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