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I think today is probably about as high as GME is going to go unless reddit can somehow get back in the news cycle for another pump. The euphoria is going to wear off and all those "diamond hands" will take their cut and run when the fun wears off.
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Jan 29, 2021 19:34
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Im tempted to play both sides as well. that way, I always come out on top
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Jan 29, 2021 19:35
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Looks like the memes are taking a dip right now.
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Jan 29, 2021 19:35
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Reddit still throwing money at this.
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Jan 29, 2021 19:36
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Rabble posted:I think today is probably about as high as GME is going to go unless reddit can somehow get back in the news cycle for another pump. The euphoria is going to wear off and all those "diamond hands" will take their cut and run when the fun wears off. Maybe but people also saw the drop the other day and said the party was over, just as prices rebounded to 400+
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Jan 29, 2021 19:37
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Just was at the Apple store getting my AirPods replaced under their replacement program for the defective bunch and the guy at the counter was full of tons of energy talking about how DOGE is going to the moon. It was a really surreal moment where my worlds were colliding and I started questioning whether the simulation was exposing itself to me again.
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Jan 29, 2021 19:38
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So I opened a Vanguard account earlier today, threw some chump change in it via a bank transfer (that they seem to have fronted me for in the meantime), and bought some AMC stocks in the baby dip this morning in the hopes that reddit would zerg those later and make me a buck. Now that that hasn't happened, I want to sell those AMC shares at an ever-so-slight profit and grab a token GME instead, but it's giving me a warning that if I sell those AMCs on the same day I bought them, I might be flagged for freeriding. Is that a thing I need to be worried about?
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Jan 29, 2021 19:39
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TraderStav posted:Just was at the Apple store getting my AirPods replaced under their replacement program for the defective bunch and the guy at the counter was full of tons of energy talking about how DOGE is going to the moon. I remember hearing that from two bros about bitcoin a few years ago the day it peaked at $17k
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Jan 29, 2021 19:39
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TraderStav posted:Just was at the Apple store getting my AirPods replaced under their replacement program for the defective bunch and the guy at the counter was full of tons of energy talking about how DOGE is going to the moon. I heard it's going to $1 soon.
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Jan 29, 2021 19:39
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Shammypants posted:Maybe but people also saw the drop the other day and said the party was over, just as prices rebounded to 400+ Yeah I could totally be wrong and this thing shoots the moon but I don't see this thing staying in the public consciousness. If RH hadn't done their fuckery yesterday I doubt we'd even be talking about this anymore.
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Jan 29, 2021 19:41
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Rabble posted:Yeah I could totally be wrong and this thing shoots the moon but I don't see this thing staying in the public consciousness. If RH hadn't done their fuckery yesterday I doubt we'd even be talking about this anymore. Again you might be right but at this rate WSB hits 10 million users from its current 6 million by Sunday or Monday
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Jan 29, 2021 19:43
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Looks like RH just dropped the limit to 1 share.
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Jan 29, 2021 19:43
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gregday posted:Looks like RH just dropped the limit to 1 share. Time for doge to go up uP UP!!!! (seriously though think that’s going to help AMC?)
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Jan 29, 2021 19:44
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TraderStav posted:Just was at the Apple store getting my AirPods replaced under their replacement program for the defective bunch and the guy at the counter was full of tons of energy talking about how DOGE is going to the moon.
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Jan 29, 2021 19:45
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all this fomo makes me dca into large cap growth funds even harder than i was before
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Jan 29, 2021 19:47
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Syrinxx posted:Is he aware he works for AAPL, an actual good security to own I just nodded and pretended like I couldn't fully understand him behind his mask and the intercom system that goes through the plexiglass that they now have. I felt like I was at a currency exchange booth at an airport.
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Jan 29, 2021 19:47
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Even if this results in loss for a ton of people (I bought 2 shares just to be in on this) it's interesting how the financial world shows its true colours even more with this. Just read some post that claims they lost $20 billion hold on to their shorts.
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Jan 29, 2021 19:47
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UnfurledSails posted:Okay, decided to put in some play money into the poop because it's fun. 5 contracts of GME $9 puts 2/26 for $100 per contract. I don't think it'll be back to single digits by the end of next month necessarily, but I'm hoping for a major crash down in the next few weeks to make some profit. I'll also keep another 500$ in reserve to double down if GME goes to 1k or whatever. I’m not sure you are aware but you need to watch these like a hawk. You bought when IV was stupid high so there is a huge premium associated with those that could just vanish if GME cools down and there is just a slow death to the stock price, even if it is over the next few weeks and it goes really low. This site has a slider that allows you to play with volatility and see how it effects the price. I think historically GME options were on the 200s. https://optionstrat.com/build/long-put
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Jan 29, 2021 19:49
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mongeese posted:I heard it's going to $1 soon. Might not be crazy, the mainstream momentum from the meme stocks might carry over to the only casino open on the weekends (either because they’re trying to recoup their losses or FOMO from having missed that boat), gamblers gonna gamble
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Jan 29, 2021 19:51
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I like shorts, they’re comfy and easy to wear.
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Jan 29, 2021 19:51
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Where can you buy doge other than robinhood? They're not selling any crypto in my state
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Jan 29, 2021 19:52
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I gave up on Robinhood and moved over to TDAmeritrade and Fidelity. I can't do fractional shares on Ameritrade so it feels like I have to use Fidelity but holy poo poo is that UI rear end.
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Jan 29, 2021 19:52
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GME dropping below 280
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Jan 29, 2021 19:52
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RIP AMC maybe
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Jan 29, 2021 19:52
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Bread Set Jettison posted:RIP AMC maybe It has done this like five times before. Nothing is different this time.
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Jan 29, 2021 19:53
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Tokyo Sex Whale posted:E*TRADE just closed my 275/270 bear put spread on GME at a loss overriding a limit order, total potential loss was 5000 and I had $17k cash on deposit Oh I am so pissed now my limit order would have triggered the last dip E: no message, alert in the account just says to see the transactions they carried out but they loving courtesy call me every time I have an option expiring on Friday
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Jan 29, 2021 19:53
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Can't imagine there's a lot of people wanting to stay long going into the weekend.
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Jan 29, 2021 19:54
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Unsinkabear posted:So I opened a Vanguard account earlier today, threw some chump change in it via a bank transfer (that they seem to have fronted me for in the meantime), and bought some AMC stocks in the baby dip this morning in the hopes that reddit would zerg those later and make me a buck. you should read this ASAP https://investor.vanguard.com/investing/online-trading/trading-penalties
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Jan 29, 2021 19:54
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It's crazy to watch GME drop well below $300, feel a gut punch, and then remember that it closed at $76.79 at the beginning of this week
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Jan 29, 2021 19:54
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This is fun but maybe not my thing. At the end of the day I may just sell and leave this to other people with less anxiety
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Jan 29, 2021 19:56
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People are def gonna bail on this poo poo before the weekend.
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Jan 29, 2021 19:57
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Crazyweasel posted:I’m not sure you are aware but you need to watch these like a hawk. You bought when IV was stupid high so there is a huge premium associated with those that could just vanish if GME cools down and there is just a slow death to the stock price, even if it is over the next few weeks and it goes really low. Cool website!
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Jan 29, 2021 19:58
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Bread Set Jettison posted:This is fun but maybe not my thing. At the end of the day I may just sell and leave this to other people with less anxiety It's fun but despite all the madness I only managed to profit about an equal amount to what I lost gambling on SPY options last March. Doing this consistently would be tough, I'll have some fun with it but boring index funds are the winner in my book.
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Jan 29, 2021 19:58
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Crazyweasel posted:I’m not sure you are aware but you need to watch these like a hawk. You bought when IV was stupid high so there is a huge premium associated with those that could just vanish if GME cools down and there is just a slow death to the stock price, even if it is over the next few weeks and it goes really low. I know about IV's ofc. It's a lottery ticket. The only way I win is if there's a quick and big crash in a single day or two. That's what I'm betting on.
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Jan 29, 2021 19:58
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I'm out of this thing, bought an apple stock and some calls. Seems like a better investment at this point.
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Jan 29, 2021 19:59
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AngryBooch posted:how on Earth does this fit with the thesis that Robinhood had to stop allowing GME buys due to capital requirements? Somebody is lying. Lemme try and explain this. I sell a stock to you for $10. Becuase of the 2-day settlement rule, your broker has to have capital on hand for your $10 expenditure, and they cannot use your account balance as that capital. (It's not the full $10, the capital reserve requirement is expressed as a percentage of the sale and I don't recall what percent, it doesn't matter though.) Then a few minutes later, you sell that same stock to Susan, for $11. Your broker is still on the hook for the full amount they were before, because 2 days haven't gone by, but now Susan's broker is on the hook for capital reserves to cover her expenditure. Then a few minutes later, Susan sells that same stock back to me, for $9. My broker is now on the hook for cash to capitalize my expenditure, and so is Susan's, and so is yours. The same stock has been traded around right back to the original owner, but the charts record all three sales as volume. The float has been the same 1 share of stock the whole time, not 3. Three brokerages have now accumulated a responsibility to hold some cash on hand, because of regulations, for 2 days, no matter what, and they can't use our balances for that. Do this millions of times and a bunch of discount brokerages that don't have enough cash on hand are starting to run out of reserves. It's OK if their own clients sell shares, because that does not incur any additional reserve requirement for them, but they restrict their clients from putting more buys in (not even a sell-and-then-buy-minutes-later) because each time their clients do that, their situation gets worse. Now, this gets more complex in that in some cases it's not the brokerage itself, but a third party company that settles trades for them, which is accumulating these reserve requirements. The brokerages have arrangements with these third party settlement companies that may impose additional restrictions or requirements on order flow/halting/etc. Moreover, these same brokerages handle loads of other shares changing hands, some for far more money at far higher volume. But: they already had cash on hand sufficient to handle the normal volume of those trades, it's not "extraordinary volume" so their own bean counters have accounted for how much they need. It may be that they have $1B set aside just to account for people trading AAPL, and only need $10M more to account for today's volume of AMC... but that doesn't matter, because these companies are not in the habit of having loads of unused cash sitting around, they run lean operations that are very carefully calculated to keep them in the black, just barely, for their capital reserve requirements and all the rest of their money is doing actual work. The government says to these companies, via regulations: yes, not only are you allowed to restrict trading on individual securities for your own reasons, you have to restrict trading if you run out of reserves, you may not just run into the red on capital reserves and continue to allow trading. Now, who set these rules up? Why? do they really benefit retail traders? That's a complex issue, and I'd argue that taken as a whole, the full set of rules by which big financial corps run by, heavily advantage the rich and powerful over the retail small-potatoes investor. But today, right now, outfits like Robinhood etc. are not intentionally loving over their customers just because they feel like being nice to the TWO hedge funds that are in big trouble over their big short positions. Leperflesh fucked around with this message at 20:02 on Jan 29, 2021 |
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Jan 29, 2021 20:00
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cr0y posted:People are def gonna bail on this poo poo before the weekend. Yeah especially with so much of the market in the red right now - can def see people bailing and dumping everything into safer picks.
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Jan 29, 2021 20:00
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Yeah I pulled all meme stock earlier today before I lost any more money. Luckily I made a little in doge last night, but it definitely wasn’t worth the anxiety and energy to go out -$10 or whatever. Left a little in doge for fun, put the rest in better long term options.
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Jan 29, 2021 20:00
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cr0y posted:People are def gonna bail on this poo poo before the weekend. The funny thing is that RH being so blatant about preventing people from buying is just going to extend this out further as people furiously try to bail for other platforms and buy in next week if the bubble had "just" popped then it'd be over already
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Jan 29, 2021 20:00
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Ursine Catastrophe posted:I think "420.69 is the meme sell" has been spread around with enough people "smartly" going under that that the real cap is going to be closer to sub 400 at this point, but I don't know if the existing limit buy/sell numbers are in a place where I don't need a terminal to look at them here's something I saw earlier 
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