OT - Dow plunges 1,175 - worst point decline in history

[wc1934]

Originally Posted by Clean39T

Reddit "Wall St. Bets" - I'm sure this will end well.....

I've played the last year all wrong. Not down much, but not up either. Just don't have the stomach for getting back in the water at this point.

hahah - you and me both. But my ups and downs started 4 years ago (right after the inauguration till May of this year). Bought when I should have sold, sold when I should have bought. No mas!!! Basta!!!

[Tony T]

Originally Posted by wc1934

hahah - you and me both. But my ups and downs started 4 years ago (right after the inauguration till May of this year). Bought when I should have sold, sold when I should have bought. No mas!!! Basta!!!

You need to be like “Opposite George”
“ Jerry Seinfeld : If every instinct you have is wrong, then the opposite would have to be right”

[Clean39T]

Originally Posted by Tony T

You need to be like “Opposite George”
“ Jerry Seinfeld : If every instinct you have is wrong, then the opposite would have to be right”

This is true. Up is down. Left is right. Nice guys and ethical gals get skewered. It's no country for old souls.

[wc1934]

Originally Posted by Tony T

You need to be like “Opposite George”
“ Jerry Seinfeld : If every instinct you have is wrong, then the opposite would have to be right”

exactly - would have had a boatload right now

[KarlC]

Originally Posted by fiamme red

GameStop, AMC, and BlackBerry are surging like crazy? It's not April 1st yet, is it?

Originally Posted by Clean39T

Reddit "Wall St. Bets" - I'm sure this will end well.....

I've played the last year all wrong. Not down much, but not up either. Just don't have the stomach for getting back in the water at this point.

Originally Posted by Tony T

Super short squeeze.
https://www.nytimes.com/2021/01/27/b...top-stock.html

“Gabe Plotkin, the hedge fund trader whose Melvin Capital was shorting GameStop, confirmed to CNBC on Wednesday that he had exited his position after having to raise a $2.75 billion bailout from Citadel and his former boss, Steve Cohen, amid the short squeeze.”

Another one, KOSS up 475% today ($10->$57.41), and up another 50% after hrs ($57.41-> $85)

.

This is all to funny, and looks like a bit of fun that will go bad for some and good for others.

Makes me want to stick my toe in the water with the $$$ I would be wasting on bike stuff, lol

.

[unterhausen]

If you look at the history of bubbles, this can go on for quite some time before it totally blows up. One of the redditors is up $20 million for an investment of $50k. Granted, if you have $50k sitting around for stonks and are willing to let it ride after gains like that, you probably aren't worrying about next month's rent.

If we have to bail anyone out because they have shorted too many stocks, they probably should limit the amount of stocks that can be shorted. Gamestop was 140% of outstanding shares.

[Clean39T]

Originally Posted by unterhausen

If you look at the history of bubbles, this can go on for quite some time before it totally blows up.

And when it blows up, the people who blew it up will suffer much less than those who had nothing to do with it.

[Tony T]

Looks like NAKD is the next squeeze
From 39¢ to $1.38 today and it’s at $2.50 after hrs

Looks like any heavily shorted stock is being bought.

[mg2ride]

My son was lucky enough to catch a small piece of GME. Bought 15 shares last week @$38.5. So far sold 2 @$150, 2@$250, 2@$350 and 3 @$368. Sitting on the last 5 just for S&Gs.

I told him he was crazy when he bought and have told him to sell everything starting @ $150. Thankfully he didn't listen.

Mean while I sold 256 shares of AMC last week at $2.92. Celebrating my +5%. It's $19.90 right now.

It has been a Crazy week. Has me bearish for the first time since June. Of course I was wrong in June.

[verticaldoug]

Originally Posted by mg2ride

My son was lucky enough to catch a small piece of GME. Bought 15 shares last week @$38.5. So far sold 2 @$150, 2@$250, 2@$350 and 3 @$368. Sitting on the last 5 just for S&Gs.

I told him he was crazy when he bought and have told him to sell everything starting @ $150. Thankfully he didn't listen.

Mean while I sold 256 shares of AMC last week at $2.92. Celebrating my +5%. It's $19.90 right now.

It has been a Crazy week. Has me bearish for the first time since June. Of course I was wrong in June.

You do realize this is all based on guessing and no skill is involved? Chances are your son will think he is a genius and lose more than in made in GME trying to repeat the trade in other stocks. That's usually how this works.

[mg2ride]

Originally Posted by verticaldoug

You do realize this is all based on guessing and no skill is involved? Chances are your son will think he is a genius and lose more than in made in GME trying to repeat the trade in other stocks. That's usually how this works.

Absolutely, but thanks for assuming my son is a moron!

[AJM100]

Originally Posted by verticaldoug

You do realize this is all based on guessing and no skill is involved? Chances are your son will think he is a genius and lose more than in made in GME trying to repeat the trade in other stocks. That's usually how this works.

Disagree. At least as it relates to GME the short interest vs. the float made it a no brainer play IMO. Again, my comment applies only to GME not the frenzy associated with other plays that were more stupid guessing. I have enjoyed watching this all play out. I find the news coverage to be very Wall St biased and that bothers me - it was (is) ok for a bunch of traders to go on CNBC and tout their book and Ackerman was holding press conferences daily to tout his Herbalife short a few years back.

[Tony T]

Originally Posted by AJM100

it was (is) ok for a bunch of traders to go on CNBC and tout their book and Ackerman was holding press conferences daily to tout his Herbalife short a few years back.

F*$& Ackerman. During the pandemic last March when the market was crashing, he went on CNBC and said “Hell is coming”, drove the market down further, and made himself 2.5b.
https://www.theguardian.com/business...-made-him-26bn

[Tony T]

Originally Posted by AJM100

Disagree. At least as it relates to GME the short interest vs. the float made it a no brainer play IMO. Again, my comment applies only to GME not the frenzy associated with other plays that were more stupid guessing. I have enjoyed watching this all play out. I find the news coverage to be very Wall St biased and that bothers me

Shorts are covering, so why is it up another $100 this morning ($480)?
The premium on the options are outrageous, but people are still buying calls.
There will be a point (wish I knew where) when new shorts will come in, and along with holders selling, and not buying, when GME will crash.

[Tony T]

Originally Posted by Tony T

Another one, KOSS up 475% today ($10->$57.41), and up another 50% after hrs ($57.41-> $85)

KOSS now at $120
...now $145
...$155, $165, $175
Wow. KOSS started the day yesterday at $10
...and now $100 with 5 min to open.