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Terebus
Feb 17, 2007

Pillbug

Pilfered Pallbearers posted:

Help me not be dumb.

I’m considering buying a couple more GME now that robinhood and others are actually letting people buy tomorrow.

How dumb is this? Scale of 1-10

It's really dumb, but if you can afford no one know what will happen at this point.

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tangy yet delightful
Sep 13, 2005



GoGoGadgetChris posted:

If what Apex and Robinhood did is totally legal, is it possible to commit insider trading by sharing with other people that they are going to do it?

Well it's legal for say GM to enter a contract with the US Govt worth trillions of dollars but if you know about it and trade on the knowledge before it's public knowledge then that would be insider trading. So I'm gonna say that just because something is legal for Apex/RH to do, doesn't mean it's legal for you to trade on your knowledge of their future legal action (loving over retail investors).

IAONAL - I Am Obviously Not A Laywer

Butter Activities
May 4, 2018

Pilfered Pallbearers posted:

Help me not be dumb.

I’m considering buying a couple more GME now that robinhood and others are actually letting people buy tomorrow.

How dumb is this? Scale of 1-10

Dumb but I’m doing it too with with money I don’t care about

punk rebel ecks
Dec 11, 2010

A shitty post? This calls for a dance of deduction.
So should I create a Fidelity brokerage account or is Robinhood fine?

PokeJoe
Aug 24, 2004

hail cgatan


Pilfered Pallbearers posted:

Help me not be dumb.

I’m considering buying a couple more GME now that robinhood and others are actually letting people buy tomorrow.

How dumb is this? Scale of 1-10

11 but you can still buy the ticket and take the ride

Gone Fashing
Aug 4, 2004

KEEP POSTIN
I'M STILL LAFFIN

Pilfered Pallbearers posted:

Help me not be dumb.

I’m considering buying a couple more GME now that robinhood and others are actually letting people buy tomorrow.

How dumb is this? Scale of 1-10

i wouldnt recommend putting in or keeping any money in robinhood, whether you want to buy gme is up to you

Srice
Sep 11, 2011

Pilfered Pallbearers posted:

Help me not be dumb.

I’m considering buying a couple more GME now that robinhood and others are actually letting people buy tomorrow.

How dumb is this? Scale of 1-10

It's impossible to know what's gonna happen but it going up tomorrow isn't out of the realm of possibility.

I personally would only spend money I am comfortable with losing, though.

Terebus
Feb 17, 2007

Pillbug

Gone Fashing posted:

i wouldnt recommend putting in or keeping any money in robinhood, whether you want to buy gme is up to you

Ya this guy's right, don't buy through RH.

jokes
Dec 20, 2012

Uh... Kupo?

The smartest first step you can do as an investor is to divest from Robinhood immediately.

Jose Valasquez posted:

Vanguard as a company is very good for long term investment, and is a good company in general (I used to work there so I've seen how the sausage is made and I still recommend them). They aren't going to be the best for short term investment because short term investment goes against their founding principles and they just don't want you to do it (although that could change eventually now that Jack Bogle is dead).

Vanguard is old people poo poo and, thus, is supremely my poo poo

bollig
Apr 7, 2006

Never Forget.

drunken officeparty posted:

Whoever bought the 482.85 should make them give them a paper stock certificate and frame it

I learned the term for this, basically buying the absolute highest contract in a run, the other day: the devil's bushel

pmchem
Jan 22, 2010


jokes posted:

The smartest first step you can do as an investor is to divest from Robinhood immediately.


Vanguard is old people poo poo and, thus, is supremely my poo poo

Vanguard also launched a new trading interface on their website, today of all days

Claes Oldenburger
Apr 23, 2010

Metal magician!
:black101:

bollig posted:

I learned the term for this, basically buying the absolute highest contract in a run, the other day: the devil's bushel

amazing

Pilfered Pallbearers
Aug 2, 2007

Gone Fashing posted:

i wouldnt recommend putting in or keeping any money in robinhood, whether you want to buy gme is up to you

Yeah I’ve got some GME already, outside of robinhood. I just mean them giving in means there going to be tons of buying pressure tomorrow I think.

I’ve got like 16 shares still, and already covered cost + some from an earlier sale (got in at an average of like $75).

Just feel like if I buy two shares tonight the morning spike might be a easy $200.

nelson
Apr 12, 2009
College Slice

dakana posted:

Whew. Read an article that then took me to a WSB comment, and I rabbitholed a bit from there.

There are a LOT of similarities between the rhetoric in that sub and the stuff I've seen from qanon and the capital riots. poo poo is *wild*.

super entertaining though, and let's hope unlike q it doesn't cost anyone their lives.

The thing about WSB is it does have some posts with very valuable analysis, but for every post like that there are probably 1000 worthless posts that have rocket emojis and “buy” in all caps.

Oil!
Nov 5, 2008

Der's e'rl in dem der hills!


Ham Wrangler

Jose Valasquez posted:

Vanguard as a company is very good for long term investment, and is a good company in general (I used to work there so I've seen how the sausage is made and I still recommend them). They aren't going to be the best for short term investment because short term investment goes against their founding principles and they just don't want you to do it (although that could change eventually now that Jack Bogle is dead).

They are migrating people to brokerage accounts, which annoyed me because I don't want stocks in my mutual funds.

Ola
Jul 19, 2004

Musk pumping doge

https://twitter.com/elonmusk/status/1354924057825837060

That's poop I'm not touching even with a plastic bag around my hand

Zero One
Dec 30, 2004

HAIL TO THE VICTORS!
https://twitter.com/charlesschwab/status/1354916504517693442?s=21

Butter Activities
May 4, 2018

I’m gonna figure out how to do an in kind transfer to vanguard tonight

Pilfered Pallbearers
Aug 2, 2007

Ola posted:

Musk pumping doge

https://twitter.com/elonmusk/status/1354924057825837060

That's poop I'm not touching even with a plastic bag around my hand

Lol the SEC is gonna gently caress him up again.

jokes
Dec 20, 2012

Uh... Kupo?


I loving love Schwab

punk rebel ecks
Dec 11, 2010

A shitty post? This calls for a dance of deduction.

jokes posted:

The smartest first step you can do as an investor is to divest from Robinhood immediately.


Vanguard is old people poo poo and, thus, is supremely my poo poo

Vanguard is more 401k account so maybe that's better than Fidelity?

mikemil828
May 15, 2008

A man who has said too much

Pilfered Pallbearers posted:

Help me not be dumb.

I’m considering buying a couple more GME now that robinhood and others are actually letting people buy tomorrow.

How dumb is this? Scale of 1-10

10, Reddit is only buying Gamestop to make a point, once the short sellers are either gone or have adjusted their positions to take advantage of the current price, the stock is going to go back to 10-20 dollars a share.

EIDE Van Hagar
Dec 8, 2000

Beep Boop

smoobles posted:

how the gently caress

it's literally our money funding all of this

they have our money.

lmao

Falling on their own sword to protect hedge funds lmao.

I just took the literally hundreds of dollars I had in there elsewhere.

Shammypants
May 25, 2004

Let me tell you about true luxury.

Do as the smart investors do. Inherit money, invest it in a passive fund that has the same stocks as every other passive fund. Sit back and talk about your elite trades.

Tatsuta Age
Apr 21, 2005

so good at being in trouble


mikemil828 posted:

10, Reddit is only buying Gamestop to make a point, once the short sellers are either gone or have adjusted their positions to take advantage of the current price, the stock is going to go back to 10-20 dollars a share.

You're betting on this sure thing to make free money then, right?

Mnoba
Jun 24, 2010
https://www.youtube.com/watch?v=ujT9_NKvQYg&ab_channel=CNBCTelevision

It's a different Citadel that bailed out Melvin and takes in Robinhood's orders. There is a wall that separates the two this lady said in between smirks and giggling.

flashman
Dec 16, 2003

I'll be re entering tomorrow at open with a single share that I will then get to gaze at for the rest of time whenever I think the game isn't rigged

Leperflesh
May 17, 2007

pmchem posted:

I think I was the guy who posted that link a while ago to go with https://squeezemetrics.com/monitor/dix which is frequently referenced on twitter etc.

In this case, the short-selling discussed for DIX and that document is very different from shorting by Melvin Capital, etc. DIX is a metric for dark pool activity where when the market-maker for the dark pool sells a stock, they're "short" it. But that means an interested party is buying it from the market maker, so it's actually a bullish transaction. The dark pool data gets reported by the market marker, "short is long", DIX gets calculated, voila.

Really way different than the current gamestop situation.

OH most definitely, this is not the same shorting as the naked shorts held by the hedge funds.

What that article does, I have found as I've passed it around repeatedly, is serve as an opening to a discussion for a number of what I would call "neophyte" retail investors (although some have been trading for years) about how the market's operation is more complex than it appears on the surface and certain assumptions that seem totally intuitive and obvious are actually wildly wrong.

The belief that in filling a buy order for some stocks, a broker incurs no potential liability because "it's just my money I'm spending" for example, seems totally reasonable and mostly harmless to hold, but isn't technically correct.

Secondarily: I have a concern that at least some of the information sources that redditors are using, taking screenshots of, etc. to make their short squeeze/friday is armageddon day/etc. arguments may include short action taking place in dark pools, which could be wildly misleading to people who don't understand. If someone was showing me a screenshot of some numbers about shorted shares I personally would want to back those numbers up by looking things up myself and making 100% sure I understand what a given site's charts are claiming to represent.

Yudo
May 15, 2003

Ola posted:

Musk pumping doge

https://twitter.com/elonmusk/status/1354924057825837060

That's poop I'm not touching even with a plastic bag around my hand

hmm yes this is how i shall vaporize my life savings.

flashman
Dec 16, 2003

Leperflesh posted:

OH most definitely, this is not the same shorting as the naked shorts held by the hedge funds.

What that article does, I have found as I've passed it around repeatedly, is serve as an opening to a discussion for a number of what I would call "neophyte" retail investors (although some have been trading for years) about how the market's operation is more complex than it appears on the surface and certain assumptions that seem totally intuitive and obvious are actually wildly wrong.

The belief that in filling a buy order for some stocks, a broker incurs no potential liability because "it's just my money I'm spending" for example, seems totally reasonable and mostly harmless to hold, but isn't technically correct.

Secondarily: I have a concern that at least some of the information sources that redditors are using, taking screenshots of, etc. to make their short squeeze/friday is armageddon day/etc. arguments may include short action taking place in dark pools, which could be wildly misleading to people who don't understand. If someone was showing me a screenshot of some numbers about shorted shares I personally would want to back those numbers up by looking things up myself and making 100% sure I understand what a given site's charts are claiming to represent.

My man there's a video in this very thread of the chairman of interactive brokers chairman admitting it was to protect the shorts from losing more than they could cover exposing the hedges to liability (which they assumed particularly when giving the hedges leverage) , there's no need for this song and dance.

pmchem
Jan 22, 2010


Leperflesh posted:

OH most definitely, this is not the same shorting as the naked shorts held by the hedge funds.

What that article does, I have found as I've passed it around repeatedly, is serve as an opening to a discussion for a number of what I would call "neophyte" retail investors (although some have been trading for years) about how the market's operation is more complex than it appears on the surface and certain assumptions that seem totally intuitive and obvious are actually wildly wrong.

The belief that in filling a buy order for some stocks, a broker incurs no potential liability because "it's just my money I'm spending" for example, seems totally reasonable and mostly harmless to hold, but isn't technically correct.

Secondarily: I have a concern that at least some of the information sources that redditors are using, taking screenshots of, etc. to make their short squeeze/friday is armageddon day/etc. arguments may include short action taking place in dark pools, which could be wildly misleading to people who don't understand. If someone was showing me a screenshot of some numbers about shorted shares I personally would want to back those numbers up by looking things up myself and making 100% sure I understand what a given site's charts are claiming to represent.

gotcha, roger that.

re: dark pools, if you're trying to look for during-market-hours dark pool trade info, one of the best sources I've found on twitter is this guy:
https://twitter.com/MelStone31

Fate Accomplice
Nov 30, 2006




completely unverified but holy poo poo if true:

RadiRoot
Feb 3, 2007

Pilfered Pallbearers posted:

I’m considering buying a couple more GME now that robinhood and others are actually letting people buy tomorrow.

source?

jokes
Dec 20, 2012

Uh... Kupo?

It’s funny that the people on Reddit think the hedge funds give a gently caress about anyone else. There’s no hedge fund spite, just purest greed and the play of the day was trying to reduce the billions they’re on the hook for. A billion dollar loss avoided is like a billion dollar gain

cr0y
Mar 24, 2005



It's me. I am advanced trade man.

Gaius Marius
Oct 9, 2012

Anybody here still got doge coin. Musk just tweeted it so it's gonna go up

OldSenileGuy
Mar 13, 2001
I’ve been using Schwab for my investments for years, but nothing more complex than buying and selling stocks.

I wanted to try to get a feel for options so I downloaded the Think or Swim app to try Paper Trading, but it looks like you can only do that if you sign up for a real investment account with TDA? Is that right?

ten_twentyfour
Jan 24, 2008

It has begun

The Last Call
Sep 9, 2011

Rehabilitating sinner
https://twitter.com/AOC/status/1354927288245231618

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Leperflesh
May 17, 2007

punk rebel ecks posted:

Vanguard is more 401k account so maybe that's better than Fidelity?

check this out type 401k.com into your browser

flashman posted:

My man there's a video in this very thread of the chairman of interactive brokers chairman admitting it was to protect the shorts from losing more than they could cover exposing the hedges to liability (which they assumed particularly when giving the hedges leverage) , there's no need for this song and dance.

My friend, I keep saying I'm not in any way claiming no illegal/inappropriate manipulation of any kind took place. I'm attempting to provide useful technical information that may help people to make good decisions, including understanding how and why the ability to trade could be restricted, outside naked market manipulation.

Like, column A: flagrant or subtle fuckery by bad actors that is or ought to be illegal. Column B: the regulations in place forcing actors to take action that harms their customers because that's just how things work.

A little from column A, a little from column B, nobody really knows yet how much of each. That's the current reality.

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