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I am almost all in on silver and gold mining stocks. Whoever wins the election, they are going to print and debase the currency. Gold and silver will be relatively more expensive as a result. Oil and Tobacco companies look cheap as well, but nothing is a sure play with the election turmoil.
I am new to investing in individual stocks and am just following along to learn, but the whole GME fiasco seems pretty wild to me. I am thinking at $40 GME is not a smart buy. However, the recent director appointees look promising (co-founder of Chwey Ryan Cohen is one of them). Anyone with more individual stock experience have any thoughts or advice?
r/wallstreetbets might be my new favorite place on the Internet.
The GME story is really interesting. We have a group of thousands (tens of thousands?) of small “retail” traders trying to short squeeze the big old guard. GME is like 140% shorted which is insane.
Basically, a small group of David’s are trying to squeeze a couple of Goliaths and it’s damn intriguing.
Looks like the time to buy was before the hype and subsequent run up in price. You missed the window.
The saying "if you are hearing about it in the news, you're too late" comes to mind here. But at the same time, Gamestop has made some decent moves lately that make me think they might actually succeed. Either way, I am following along to learn as much as possible.
Originally Posted by Efini~FC3S
r/wallstreetbets might be my new favorite place on the Internet.
The GME story is really interesting. We have a group of thousands (tens of thousands?) of small “retail” traders trying to short squeeze the big old guard. GME is like 140% shorted which is insane.
Basically, a small group of David’s are trying to squeeze a couple of Goliaths and it’s damn intriguing.
It is pretty wild and that subreddit is out of control.
The way the small stocks go on the market these days reminds me of a bunch of women hanging out together.
They all shop at the same stores and buy the same style of clothing while paying very little attention to the worth/cost of each item they buy.
When they hang out in same bars bars they go to the bathroom in groups and give thumbs up or thumbs down to the same guys and drink the same stuff and dance to the same songs.
When talking they reinforce each other's BS on most subjects.
For buying and selling in the market that group mentality will work until things turn negative and they lose whatever amount of money is in their trading account.
On the flip side I have seen how little the fundamentals matter these days but at least I have managed to make good money over the long term.
So after seeing JD8’s post here, and a couple other similar posts on another automotive board, I did some research and due diligence.
At the time I made the decision to YOLO a fairly significant amount of money (~10% of my total net worth) into GME. I figured it could either drop 50% or go up 500%, and that wasn’t a bad gamble as far as casinos go.
Meanwhile, GME is now almost $100/share pre-market after closing Friday at $65.
I might have enough free cash to race something other than Miatas after this is a said and done. Probably not though...
So after seeing JD8’s post here, and a couple other similar posts on another automotive board, I did some research and due diligence.
At the time I made the decision to YOLO a fairly significant amount of money (~10% of my total net worth) into GME. I figured it could either drop 50% or go up 500%, and that wasn’t a bad gamble as far as casinos go.
Meanwhile, GME is now almost $100/share pre-market after closing Friday at $65.
I might have enough free cash to race something other than Miatas after this is a said and done. Probably not though...
Happy to say that I did the exact same thing and so far have made some good money. As the WSB people say, to the moon!!
On a serious note, I think GME is a good long term play (not at these levels obviously). But once this craziness is over and things get back down to normal levels I will probably be buying some to hold long term.
Yes and yes! I am treating this as an educated gamble and the money I put in is money I can afford to lose. I am not selling until I see minimum 500%+ returns.
I want to tell you guys "thank you for the stock market advice: I listened (mostly)"
Picked up GME at $115 yesterday. I'm in time zone +3 right now (southwest asia), so near midnight (10 minutes till the close) I sold half for $148, and eyeballed the chart. Set a buy limit at $110 and an extended hours sell limit for my other half at $240 and went to bed. I was pleasantly surprised when I woke up this morning (about 10:30p eastern) I've set new buy limits at $170 and $150, lets see how far we can drop once the big boys come back online at the open :-)
I want to tell you guys "thank you for the stock market advice: I listened (mostly)"
Picked up GME at $115 yesterday. I'm in time zone +3 right now (southwest asia), so near midnight (10 minutes till the close) I sold half for $148, and eyeballed the chart. Set a buy limit at $110 and an extended hours sell limit for my other half at $240 and went to bed. I was pleasantly surprised when I woke up this morning (about 10:30p eastern) I've set new buy limits at $170 and $150, lets see how far we can drop once the big boys come back online at the open :-)
You need to be holding until Monday. The big squeeze has not been squozed. If you are selling before $420.69 you are not allowed in our Tendie club.
You need to be holding until Monday. The big squeeze has not been squozed. If you are selling before $420.69 you are not allowed in our Tendie club.
LOL - I got my share of the great GME Ponzii scheme of 2021. Cancelled my remaining buy orders, and I'm thrilled with the results :-) I hope you see it tick $421 before it's all said and done, and maybe I'll make some winning side bets.
You need to be holding until Monday. The big squeeze has not been squozed. If you are selling before $420.69 you are not allowed in our Tendie club.
Everyone should be cancelling those low meme limit sells so we don't face resistance there. I've got 1 limit sell over $600 to cover the cost of the rest of my stocks, then have all the rest set to $1420.69
Do you guys see yourselves as beating the large investors, caught in the Short Squeeze, or do you see yourselves beating the computer generated buys and sells?
Me, I'm not into Ponzi schemes.
I'm just trying to understand the old PUMP and DUMP going on.
DNM
11-02-2020, 10:59 PM
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