lilredrooster
lilredrooster
Joined: May 8, 2015
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January 28th, 2021 at 2:41:56 AM permalink
.....................


Using reddit's Wall Street Bets as a meeting place they pumped up the stock Gamestop
hedge funds had shorted Gamestop but a mass of little guys pumped it up and threatened the hedge fund's positions

fun to read article:


https://www.nytimes.com/2021/01/27/business/gamestop-wall-street-bets.html?action=click&module=Top%20Stories&pgtype=Homepage
𝘣𝘦𝘭𝘪𝘦𝘷𝘦 𝘰𝘯𝘭𝘺 𝘩𝘢𝘭𝘧 𝘰𝘧 𝘸𝘩𝘢𝘵 𝘺𝘰𝘶 𝘴𝘦𝘦 𝘢𝘯𝘥 𝘯𝘰𝘵𝘩𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘺𝘰𝘶 𝘩𝘦𝘢𝘳.........𝖤𝖽𝗀𝖺𝗋 𝖠𝗅𝗅𝖺𝗇 𝖯𝗈𝖾
OnceDear
Administrator
OnceDear
Joined: Jun 1, 2014
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January 28th, 2021 at 3:40:48 AM permalink
Quote: lilredrooster

.....................


Using reddit's Wall Street Bets as a meeting place they pumped up the stock Gamestop
hedge funds had shorted Gamestop but a mass of little guys pumped it up and threatened the hedge fund's positions

fun to read article:


https://www.nytimes.com/2021/01/27/business/gamestop-wall-street-bets.html?action=click&module=Top%20Stories&pgtype=Homepage

I have a good friend who couldn't resist calling me several times yesterday as he made about £3000 on the day trading these. I fear he's now totally hooked on the easy money to be had from day trading.
Beware. The earth is NOT flat. Hit and run is not a winning strategy: Pressing into trends IS not a winning strategy: Progressives are not a winning strategy: Don't Buy It! .Don't even take it for free.
darkoz
darkoz
Joined: Dec 22, 2009
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January 28th, 2021 at 6:56:07 AM permalink
GameStop just hit $414
For Whom the bus tolls; The bus tolls for thee
DRich
DRich
Joined: Jul 6, 2012
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January 28th, 2021 at 6:58:13 AM permalink
Quote: darkoz

GameStop just hit $414



I am very happy that no one took me up on my bet that it would go to $100 before $400.
Order from chaos
darkoz
darkoz
Joined: Dec 22, 2009
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January 28th, 2021 at 7:22:08 AM permalink
Different platforms are shutting down apparently.

Word is Robinhood, TD, Schwab not allowing any more purchases of GameStop or AMC.

Trying to protect the hedge funds?

This is only going to get bigger
For Whom the bus tolls; The bus tolls for thee
MDawg
MDawg
Joined: Sep 27, 2018
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January 28th, 2021 at 7:32:11 AM permalink
Just to see what would happen, I tried to short it. I tried for 1000 shares short just on one of my stock trading accounts, didn't bother to try on the others. No shares available. This is typical, not just for this stock but others, but for this one it might have to do with a straight block on shorting it, at the brokerage.



Then I tried to go long - the first time I tried, it was halted. I tried again just now for 1000 shares long and the order went through, then I cancelled it. I had placed it well below market anyway it was just a test to see if the brokerage would accept the order, which it did.



There's no need to trade risky stocks like this though. With just 50 shares, I booked an easy $500. on AMZN in the pre- early this morning, and if I had let it ride just twenty minutes longer, I could have made $2500., as it hit 3253 just minutes after I sold at 3213. However, after I got the fill at 3203, it dropped to as low as 3198 I think it was - and there's where you separate the amateurs from the pros. I knew it would come back, and put in an order to sell for 10 points higher and held to it. An amateur would have panicked and either sold at a loss, or lowered his sell order.

Again, as far as trading: When I put in an order I know it's a good price. I don't waiver. At most, if it plummets, I will average in more shares, and sooner or later, I always make money. Every time. Part of it has to do with picking the right stocks, and the rest is timing, patience, and knowledge of what price to set for the buy and the sell. Sufficient buying power and not getting greedy are key too.

I have a bottom fishing order in for trading shares of TSLA at 805, if it dips that low. I will cancel it now, as the lowest it hit after I placed it was around 810, and now it's all the way up to 837 or so.

Meantime, I am confident that my long term AMZN and TSLA will continue to rise. Just stick with blue chip tech stocks, or blue chip other stocks, whether for investing, or trading. Stay away from crap like GME, AMC, CYDY and the like. I try to avoid negative -EPS companies, period, let alone hyped crap like this.
Last edited by: MDawg on Jan 28, 2021
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people.
darkoz
darkoz
Joined: Dec 22, 2009
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January 28th, 2021 at 8:45:54 AM permalink
GameStop plunged 60% after restrictions put on their trades.

Apparently they favored short sales but not buys

Hedge fund managers putting in a fix?

https://www.google.com/amp/s/www.cnet.com/google-amp/news/robinhood-app-td-ameritrade-restrict-trading-of-gamestop-amc-stock/
For Whom the bus tolls; The bus tolls for thee
darkoz
darkoz
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January 28th, 2021 at 1:45:44 PM permalink
https://www.google.com/amp/s/www.foxbusiness.com/markets/robinhood-lawsuits-gamestop-amc-restrictions.amp

First lawsuits against Robinhood initiated.

I expect a slew of suits. Probably a class action.
For Whom the bus tolls; The bus tolls for thee
lilredrooster
lilredrooster
Joined: May 8, 2015
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Thanks for this post from:
onenickelmiracle
January 28th, 2021 at 1:58:38 PM permalink
Quote: darkoz

GameStop plunged 60% after restrictions put on their trades.

Apparently they favored short sales but not buys

Hedge fund managers putting in a fix?

https://www.google.com/amp/s/www.cnet.com/google-amp/news/robinhood-app-td-ameritrade-restrict-trading-of-gamestop-amc-stock/




you're suggesting that the stock market - Wall Street - the backbone of our financial system is rigged?

I'm totally shocked that anybody could even think such a thing


𝘣𝘦𝘭𝘪𝘦𝘷𝘦 𝘰𝘯𝘭𝘺 𝘩𝘢𝘭𝘧 𝘰𝘧 𝘸𝘩𝘢𝘵 𝘺𝘰𝘶 𝘴𝘦𝘦 𝘢𝘯𝘥 𝘯𝘰𝘵𝘩𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘺𝘰𝘶 𝘩𝘦𝘢𝘳.........𝖤𝖽𝗀𝖺𝗋 𝖠𝗅𝗅𝖺𝗇 𝖯𝗈𝖾
Wizard
Administrator
Wizard
Joined: Oct 14, 2009
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January 29th, 2021 at 6:06:41 AM permalink
Quote: darkoz

First lawsuits against Robinhood initiated.



I honestly don't get why anybody would restrict those trades. Isn't it supposed to be a free market?
It's not whether you win or lose; it's whether or not you had a good bet.

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