The $GME gamestonk thread

Discussion in 'Politics & Current Events' started by mbardu, Jan 27, 2021.

  1. Demiurge

    Demiurge Intrepid Jackass

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    These are important points, especially considering that the most common investment by the population is retirement savings. People drop a few percentages into a 401(k) with a vanilla selection of funds (and maybe some limited brokerage features) and are told they need some eye-watering, impossible-seeming sum of money to retire. Then, whenever investing is discussed in the news or pop culture it's always about scandal or crazy volatility. They know they need to up their risk tolerance and may be compelled to go for something riskier because even diligent savings might not be enough.
     
  2. r3tr0sp3ct1v3

    r3tr0sp3ct1v3 SS.org Regular

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    oh my emojis didn’t go through. I put a bunch of rockets and diamonds. That’s what I was referring too.
     
  3. TedEH

    TedEH Cromulent

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    I tend to be very skeptical of people saying things like this on reddit. I'm sure some have actually put more into this than they should have, but I think it's equally plausible that a bunch of people have claimed to take much bigger risks than they really did just for the lolz.
     
  4. Forkface

    Forkface Feast on this.

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    i can tell you after hanging in that sub for the past couple of years, your assessment is mostly true. these people love their screenshots so if they DID take a 2nd mortgage on their houses or whatever, they would post that shit.
    people constantly post how much they win/lose/bet, but its very hard to tell what percentage of their net worth that amount actually represents.

    Then again, saying stuff like "yeah i put in 20k im not gonna miss them" or "money i can afford to lose" or whatever, is ALSO normalized in the sub, so people making mortgage claims have on reason to do so imho, so it could go both ways.
     
  5. TedEH

    TedEH Cromulent

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    Or just strait up lying with the hopes of egging on other people.
     
  6. Demiurge

    Demiurge Intrepid Jackass

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    Perhaps more people should invest in this bank that's capable of closing on 2nd mortgages instantly as to fund huge impulse investments.
     
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  7. MrWulf

    MrWulf SS.org Regular

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    I invest like, a grand or so. Trying to get my hand on a 3rd stock but it has been challenging at least. If it panned out i'd have a decent gain but nothing outstanding, which is fine. I already incurred losses in bitcoin for being too rushed and loss at least 200 bucks already. But i was bound to lose some before i gain in there either way. If the loss is too high i will just fold my hands and work my way back, i know that much before trying. However, i see some fucks who invest in like, 65k in their dental school LOC. Of course, this being the internet you dont know if it is true or not but if it is true...oh boy
     
  8. penguin_316

    penguin_316 SS.org Regular

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    I believe a lot of the GME yolks are real, it’s probably 50-50 half real and half fake. Either way, I bought in knowing it was unlikely to profit but the odds are slightly in wallstreetbets favor. I’d give it a solid 60% wsb vs. 30% hedge funds. If you’re at a casino those are unheard of odds...

    Bitcoin has never given an investor a negative profit if you have a 4 year timeline. You went in too hard and too fast, as a true bitcoiner I have to urge you to step back in(slowly and do more research).

    Also, future you will be very upset that you sold you bitcoin. I’ve cost myself literally hundreds of thousands in present day value and it is now burned into my mind that selling Bitcoin is generally a mistake.
     
  9. MrWulf

    MrWulf SS.org Regular

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    oh don't get me wrong I've invest like more than a grand into bitcoin. And I still have around that much. It just that I brought it during when it was surging when Elon Musk changed his twitter profile. So now it has settled back down so obviously, there's some loss. I'll continue to invest in bitcoin and bide my time. It is a long term kinda thing and I'm ok with that. The focus right now is obviously this GME thing. WSB is aiming for a pretty likely 1k or so mark. At that point I think it is also safe for me to disengage instead of just holding it further and possibly losing all of it.
     
  10. Drew

    Drew Forum MVP

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    Ok, but when you're putting this much effort into arguing against a position, especially when - disclaimer, if there's anything I've learned about the markets in the 15+ years I've been doing this is no one knows anything for sure, and the best you can have is a pretty reasonable idea - this is something I know a fair amount about, have studied at length and have professional tools at my disposal for research - then saying "Oh, I'm not taking a position, I'm just saying we just don't know."

    Again, I'd be an idiot to make any guarantees... but everything I'm seeing says that this stopped being a short squeeze early last week.

    That last point - a stock price will rise if there are more people willing to transact over the last traded price than under the last traded price. It will fall if there are more people willing to transact under the last traded price than over the last traded price. And it'll move sideways, neither rising nor falling, but staying range-bound - if people willing to transact above the last price are roughly balanced with people willing to transact below the last price. Basic market dynamics. So, if GME rose exponentially at the start of the week, that's consistent with far more people being willing to transact - buy or sell - at a higher price than the prevailing one in the market. Some of that was probably short covering, some of that was frenzied speculative or non-economic buying on the part of r/wsb or piggyback retail traders chasing them. The fact that that meteoric rise has stalled and that for the most part GME has stayed within a $250-350 channel the last three and a half days, on extremely high volume, tells me that people willing to transact over the current price are roughly balanced with people willing to transact below the current price.

    Considering we know that r/wsb is still trying to bid the price up, and they're failing, that would concern me if I was long GME right now.
     
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  11. Drew

    Drew Forum MVP

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    This is a HUGE concern of mine. That's why I keep stressing in this thread - in case anyone reading this is long GME - that everything I've seen is telling me that the price action of the last few days is NOT a short squeeze, and we've moved into pure speculative bubble.

    You don't have to feel sorry for hedge fund investors, but please go back and read some of my posts in this thread, especially if you have $5k riding on GME right now. There's a lot of evidence out there - not the least of which the fact that the two large short positions that triggered this whole thing haven't had to call additional capital since last Monday when GME closed $100-250 lower than it's traded since - that strongly suggests all the original shorts have closed, and this is no longer a short squeeze but rather massive retail investor (aka - guys like you) speculative buying keeping a huge bubble in the price of GME artificially inflated.
     
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  12. SpaceDock

    SpaceDock Shred till your dead

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    I find it strange that so many people are willing to throw their money into these gimmicks because in the world of stocks there are generally two arm chair investor ways to make money. Throw some cash into what you think is going to make a high quick turn, then sell at what you think will be the peak. This is GME stock to me, but if you are still in it you might have already missed that chance. Second way is to slowly invest over years into a variety of stocks so some go up and some go down but you hope that the money accrues more than a savings account, this is how most retirement accounts work.

    The problem I see with even being a moment late to the GME, Dogecoin, or silver party is that you only make small amount of money if you are very lucky and the only way to really profit is to dump into it, then cash out really fast. Not too many people are good at that. It has been statistically shown that ducks can pick stocks as good as pro traders, but the pros know when to sell. Laymen tend to hold on for too long waiting for the tip of the profit climb that might not ever happen.

    If anyone wants my advice on how to make money in stocks, slowly put your money into companies you believe in and not these flash in the pan news stories. I personally make around 3-5k a day in stocks but last Thursday lost 10k, the normal market has enough volatility for my tastes. But the real way I “make” that money is by not cashing it out.
     
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  13. jaxadam

    jaxadam SS.org Regular

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    You make between $1M and $2M per year in stocks? That is impressive.
     
  14. BenjaminW

    BenjaminW SS.org Regular

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    Since @jaxadam says you make a 1 to 2 million dollars a year in stock, wanna slide me some of that?
     
  15. SpaceDock

    SpaceDock Shred till your dead

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    only on days the stock market is open, so not 365 days a year. Also, like I also said some days I will lose 10k easy. I did make three times my salary last year in stocks but I can’t start pulling out because then the returns diminish greatly, that is the damning part about stock investment.
     
  16. Drew

    Drew Forum MVP

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    What was your portfolio total return last year?
     
  17. SpaceDock

    SpaceDock Shred till your dead

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    sent DM
     
  18. SpaceDock

    SpaceDock Shred till your dead

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    Btw, I am not rich or make a ton of money in my day job. I think I have been very diligent in investing here and there, all of this could be wiped out if the market crashes.
     
  19. jaxadam

    jaxadam SS.org Regular

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    Well, they always say, don't quit your day job, but I think in this case maybe you could!
     
  20. SpaceDock

    SpaceDock Shred till your dead

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    Let’s see how good Yellen treats me!
     

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