Re: stocks in meltdown mode
 

The market just had it's [URL="https://www.forbes.com/sites/naeemaslam/2020/07/01/dow-jones-and-sp-500-futures-stocks-market-and-facui/#1c9671dd53cd"]best quarter since 1998[/URL]

Re: stocks in meltdown mode
 

Sigh...fuckin Nasdaq is fire.

Something feels really strange with Tech....I don’t know if it’s day traders or what, but just too much of market is there. Govt being forced to spend out the ass due to Covid-19 while manufacturing rates so low.

Shit is looking messy...especially with Bigly who like to try to equate the market with the economy.

Re: stocks in meltdown mode
 

JFC

What in the hell...nasdaq...I guess that Tesla split went bigly well

Sp and Dow on fucking fire.

This is insane at this point..insane

Solid, I hope you stayed in...

Re: stocks in meltdown mode
 

[IMG]https://uploads.tapatalk-cdn.com/20200819/219e7b00ae2ec3bddc03c18c2687030b.jpg[/IMG]


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Re: stocks in meltdown mode
 

I bought one penny stock (RMBL) at 27 cents. They did a 40 to 1 merge making the new stock value $8. I sold my shares at $23, and it now is at $39!!! For a stock that was about to be de-listed that was crazy.

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Re: stocks in meltdown mode
 

Dow riding that Biden bump hard. Stocks are soaring.

Re: stocks in meltdown mode
 

Lmao....yeah, glad there isn’t anything else going on that means our economy may get back to normal.

Re: stocks in meltdown mode
 

[quote=MTK;1264803]Dow riding that Biden bump hard. Stocks are soaring.[/quote]

To be fair, the vaccine news is pretty big as well.

Re: stocks in meltdown mode
 

It is definitely both.


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Re: stocks in meltdown mode
 

Yeah this happens after almost every election. Investors crave stability they don't care who is in charge of the game as long as they know the rules.

Re: stocks in meltdown mode
 

Biden bump pushes the market over 30k for the first time ever


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Re: stocks in meltdown mode
 

Thanks President Trump for saving the economy and delivering a Covid vaccine in less than 10 months against a plague the world has never seen.

Appreciate trump eliminating the Russia threat against our elections as well. The most successful election in history right?

Joe can just sit in his basement while trump continues to deliver

Re: stocks in meltdown mode
 

[quote=Chico23231;1265948]Thanks President Trump for saving the economy and delivering a Covid vaccine in less than 10 months against a plague the world has never seen.

[B]Appreciate trump eliminating the Russia threat against our elections as well. [/B]The most successful election in history right?

Joe can just sit in his basement while trump continues to deliver[/quote]

Enjoy this, because I'm never going to take you seriously in this forum again.

Re: stocks in meltdown mode
 

[quote=mooby;1265949]Enjoy this, because I'm never going to take you seriously in this forum again.[/quote]

Lol...remember when Obama let the Russians interfere? Well trump stopped it right?

Re: stocks in meltdown mode
 

[quote=Chico23231;1265950]Lol...remember when Obama let the Russians interfere? Well trump stopped it right?[/quote]
You're a joke , STFU.

Re: stocks in meltdown mode
 

[quote=MTK;1265944]Biden bump pushes the market over 30k for the first time ever

Sent from my iPhone using Tapatalk[/quote]

[IMG]https://media0.giphy.com/media/l3V0FBxSzWp6O0Lf2/200.gif[/IMG]

Re: stocks in meltdown mode
 

[quote=Giantone;1265951]You're a joke , STFU.[/quote]

Look at the policies homeland security agency implemented during the trump administration and how state agencies were consulted to improve election vulnerabilities in the voting process. There was a strategy and it was a bi partisan in the house to get it done...which happened.

Thanks again bigly!

Re: stocks in meltdown mode
 

[IMG]https://i.imgur.com/nw7NQL3.jpg[/IMG]

[URL="https://www.dallasnews.com/news/public-health/2020/11/14/thousands-pour-into-fair-park-for-north-texas-food-banks-largest-distribution-yet-during-pandemic/"]True story[/URL]; look at this shot of all the Texans celebrating the Dow hitting 30k by lining up for free food.

Re: stocks in meltdown mode
 

I just caught myself up on this GameStop story, pretty crazy

[URL="https://www.cnn.com/2021/01/27/investing/gamestop-reddit-stock/index.html"]Everything you need to know about how a Reddit group blew up GameStop's stock[/URL]

Basically the players are getting played and they're not happy.

Re: stocks in meltdown mode
 

But most know how this will end for the “retail” investor

It’s a super interesting story...but E.A.W.

Re: stocks in meltdown mode
 

My little brother is a wallstreetbets member. He cashed out 2 days ago.

Big money guys shouldnt be able to short sale (sell stock they dont own on assumption it will go down and they will then buy the stock). Hedgefund big money guys target a stock. Sell a stock (they dont technically own) for $10 bc the volume them and their other hedges do it at in unison will drive the price down. Then they buy the stock for $8 or whatever it goes down to complete the previous sell at $10, pocketing $2 for a stock they never owned.

Meanwhile, single mom and dads (who actually own the stock) watch their stock price go from $10 to $8 over night not bc of a companys PE or financials (things that are supposed to dictate stock price and market activity) but bc some hedgefund investors decided to target gamestop or whatever stock for a short sale cash grab while on their yachts or some strip club.

It blows my mind this is legal.

So wallstreetbets decided to buy gamestop and not stop buying gamestop so instead of the price going down it went up and up bc wallstreetbets didnt stop buying.

Now these hedgefunds who thought they could buy the stock at $8 and make a quick $2 ...... have to buy the stock at like $300 and are losing $290 or where ever they cut their losses.

I am not a stock person, this is my layperson understanding and I could be wrong or way over simplyfing things to the point of being inaccurate.

This is like a modern day robin hood.

Re: stocks in meltdown mode
 

Two of the major hedge funds targeted by investors on Reddit pushing up the stock price of GameStop have waved expensive flags of defeat and sold out of their investments, losing millions of dollars.

On Wednesday, the stock price of GameStop (GME), the mall retailer for video games, soared 134%, a staggering increase of 748% in just one week after Reddit investors launched a chaotic short squeeze attack to increase the price and screw over major investors.

Wall Street hedge funds, including Citron Research and Melvin Capital, had shorted the stock, meaning they bet against it and needed it to drop in price in order for their investments to be successful.
[url]https://www.buzzfeednews.com/article/amberjamieson/game-stop-reddit-wall-street-losses[/url]

After the flurry of activity on Wednesday, TD Ameritrade, one of the free brokerage apps commonly used by young investors, briefly restricted trades on some stocks, including GameStop and AMC (another target of the WSB crowd) “in the interest of mitigating risk for our company and clients." That frustrated many who saw the halt as Wall Street firms stopping investors from making trades that would improve their personal wealth.

------------------
Crappy how the hedge fund guys were able to get TD and robinhood to pause activity so the could regroup ... at the expense of people like me and you being able to make money off it.

if pride didnt get in my way, id make my little brother my financial advisor. the language he uses sounds like Japanese to me.

Re: stocks in meltdown mode
 

I sold AMC yesterday at a 400% win. I bought a bit of AMC and Cinemark a while ago thinking they will rebound. At this point Cinemark also has been a very nice growth.

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Re: stocks in meltdown mode
 

Imagine if you bought in with GS at $3 and sold off at $347? Fuck.

Re: stocks in meltdown mode
 

The battle between the financial establishment and small individual investors is heating up, and the situation is already becoming political — in some cases providing some interesting common ground.

The anger is bipartisan. Rep. Alexandria Ocasio-Cortez (D., N.Y.), Rep Ro Khanna (D., Calif.), Sen. Ted Cruz (R., Texas) and even Donald Trump Jr., eldest son of the former president, have all called out the situation as unfair for individual investors.

As Robinhood and other brokerages halted buying of Gamestop (GME), AMC (AMC) and other stocks Thursday, only allowing users to sell their positions, a wave of anger — and accusations of hypocrisy toward Robinhood — washed over parts of the trading community.

Hedge funds could buy and sell, but on many platforms, retail investors could only sell.

“This is unacceptable,” AOC tweeted on the news. “Fully agree,” Ted Cruz responded.

[url]https://www.yahoo.com/finance/news/this-is-unacceptable-aoc-and-others-side-with-retail-investors-slam-robinhood-and-wall-street-amid-game-stop-mania-171906758.html[/url]

CRed - nice return, i thought movie theaters/airlines/restaurants would be dead

Re: stocks in meltdown mode
 

Establishment Always Wins

Re: stocks in meltdown mode
 

[quote=Chico23231;1275750]Establishment Always Wins[/quote]

aka the system is rigged

sometimes we get these blatant examples of it

Re: stocks in meltdown mode
 

[quote=MTK;1275754]aka the system is rigged

sometimes we get these blatant examples of it[/quote]

I know a managing director who works with hedges funds for a big firm.

I haven’t asked yet...but these hedge funds guys will first want blood. They are gonna make someone pay. They are maybe the most aggressive, blood thirsty folks in global banking & markets.

Also remember, there a lot of folks worldwide waiting to see what happens...lotta folks not happy.

Establishment Always Wins

Re: stocks in meltdown mode
 

My BIL supposedly made a million dollars in his stock. He put $2k on ENZC and it grew by 50000%

My wife was telling me, I was just like ok.

Not sure I believe it

Re: stocks in meltdown mode
 

Hedge Fund guys getting a taste of their own medicine .

Re: stocks in meltdown mode
 

Do Hedge Funders only try to short stock? That is their whole mission?

If so, this couldn't happen to a nicer group of people.

Talk about uniting the clans.

What do companies get from selling to these people? Is it because they're confident the stock will still go up, even though a company is actively working on dragging it down?

Re: stocks in meltdown mode
 

[QUOTE=mredskins;1275764]My BIL supposedly made a million dollars in his stock. He put $2k on ENZC and it grew by 50000%



My wife was telling me, I was just like ok.



Not sure I believe it[/QUOTE]Looks like ENZC was selling at around 10 cents after opening in December and went up to 25cents yesterday. While that's great profit its not making a million dollars. You can always Google a stock ticker and see the chart of pricing

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Re: stocks in meltdown mode
 

Not gonna lie, I wish I was smart enough to understand the stock market enough to buy in on the Gamestop/AMC/etc. stocks while the gettin' was good.

But everybody smart enough to understand the stock market says the first rule is if you don't know what you're doing, don't buy individual stocks.

So here I sit watching everybody else get rich off the action.

I understand the basic concept of stocks, you buy low and sell high. Don't put all your eggs in one basket. [URL="https://www.youtube.com/watch?v=DdSfTsTSjwA"]Diversify your bonds, ninja.[/URL] But this whole concept of short-sales and selling stocks you don't own so you can buy them back later at a lower price doesn't make sense to me at all. I just can't understand why you would be allowed to sell a stock you don't own.

Makes me happy seeing people who manipulate the market for a living (and get rich doing it) getting a taste of their own medicine though.

Re: stocks in meltdown mode
 

Rich people/companies/firms fucking over every day Americans = Something we can all get behind hating

But yet it's all perfectly "legal" and has been going on forever. We're always left holding the bag.

Re: stocks in meltdown mode
 

What kind of person thinks to himself/herself: What do I want to do for a living? I know, I want to get rich while fucking over my neighbor.

Re: stocks in meltdown mode
 

Apparently the robinhood guy showed up on stock shows end of day and it went predictably terrible

You really need to be careful who you have your money with...the first rule of the stock market

Re: stocks in meltdown mode
 

[quote=mooby;1275783]Not gonna lie, I wish I was smart enough to understand the stock market enough to buy in on the Gamestop/AMC/etc. stocks while the gettin' was good.

But everybody smart enough to understand the stock market says the first rule is if you don't know what you're doing, don't buy individual stocks.

So here I sit watching everybody else get rich off the action.

I understand the basic concept of stocks, you buy low and sell high. Don't put all your eggs in one basket. [URL="https://www.youtube.com/watch?v=DdSfTsTSjwA"]Diversify your bonds, ninja.[/URL] But this whole concept of short-sales and selling stocks you don't own so you can buy them back later at a lower price doesn't make sense to me at all. I just can't understand why you would be allowed to sell a stock you don't own.

Makes me happy seeing people who manipulate the market for a living (and get rich doing it) getting a taste of their own medicine though.[/quote]
Tell you what, people who understood the market got richer over the past 10 months. I can just say with very limited funds, I made 300% growth with very select funds. Definitely not normal, but taking the simple concept that certain stocks got caught up in the panic selling for no reason enabled simple decision making. An example is DELL, a decent stock with no serious reason to have tanked when the market did. I bought it at $27 because the year leading up to the crash it was around $55. It's now over 60, but admittedly I sold it around 50 to lock in that and bought other stocks I saw similar potential with. And I bought several Cannibas stocks in November that have seen significant growth too.

The one question I have to see is taxes, it is all within an IRA so I don't think I have taxes due for the short term gains, but have to confirm that.

Re: stocks in meltdown mode
 

[quote=CRedskinsRule;1275777]Looks like ENZC was selling at around 10 cents after opening in December and went up to 25cents yesterday. While that's great profit its not making a million dollars. You can always Google a stock ticker and see the chart of pricing

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He bought it at .0005 cents a share like a year ago, this is how the story goes. Like I said I don’t believe it.

Re: stocks in meltdown mode
 

[quote=CRedskinsRule;1275787]Tell you what, people who understood the market got richer over the past 10 months. I can just say with very limited funds, I made 300% growth with very select funds. Definitely not normal, but taking the simple concept that certain stocks got caught up in the panic selling for no reason enabled simple decision making. An example is DELL, a decent stock with no serious reason to have tanked when the market did. I bought it at $27 because the year leading up to the crash it was around $55. It's now over 60, but admittedly I sold it around 50 to lock in that and bought other stocks I saw similar potential with. And I bought several Cannibas stocks in November that have seen significant growth too.

The one question I have to see is taxes, it is all within an IRA so I don't think I have taxes due for the short term gains, but have to confirm that.[/quote]

What does Dell still make? Admittedly I don't have a PC and don't know how common they are anymore, but I never even here the word Dell anymore.

Re: stocks in meltdown mode
 

[quote=mredskins;1275789]He bought it at .0005 cents a share like a year ago, this is how the story goes. Like I said I don’t believe it.[/quote]

Pretty crazy if he did. I have bought some penny stocks, but I didn't think stocks could stay listed under a dollar for more than a certain time.

That would be winning the game right there.