The GameStop....swizzle?

[Will]

3 hours ago, Rummy said:

oo btw @Will or any other folks - when DO the hedge funds have to return 'all' that stock they borrowed? Is it close of play tomorrow and do we have any sources or is this speculation by folks? Hard to know where to find stuff atm in the fast moving sea of it all; even on the reddit.

I don’t think anyone really knows. Seems that they tend to need to close some positions on Fridays and these are the big days people pump towards.

Seems to be back up in after hours trading. I’m going to see what happens early this morning and make a choice based on the general direction of things. I still have enough that anything above $100 is actually going to be a really nice return. If it manages to spike up again and starts going above $500 I’ll probably just cash it out.

It’s great to Diamond Hand hold it but people really need to take some profit from this when they can.

[Rummy]

Yeah I'd be prepared to diamond hand down a few hundreed and lose it just to fuck them tho - genuinely if it felt I'd helped even a tiny bit I'd feel happy with it. Had I actually been in the game or where you're at I'd probably have tried to set small points where I draw out X profits but keep holdings at Y with a project for profits to then increase again to another sort of X level - if that makes sense? Keep my value around the same level and slowly draw off at certain points - ofc this slowly slowly slowly shrinks my growth overall if I've made this all up right but makes it a steady yet functional piece for myself. If this doesn't make any sense - you can probably see why I don't actually dabble

Re:closing yeah I guess I thought the same of it just being smart standard to close out on Fridays(a two day weekend of closed market...a lot can happen). Did any of the hedge funds double down shorting after this whole increase though - expecting/waiting for the boom? I guess though that's also the smaller pieces of the effort for holders to contact their brokers and ask them not to lend stock.

[Will]

7 minutes ago, Rummy said:

Had I actually been in the game or where you're at I'd probably have tried to set small points where I draw out X profits but keep holdings at Y with a project for profits to then increase again to another sort of X level - if that makes sense?

Yep, this is exactly what you should do with this sort of trade. You should never try to time the market, just take off profit as and when you plan to. I could have made a lot more, but I also could have lost it all. By being sensible I’m hugely up and still have something that could return me even more.

8 minutes ago, Rummy said:

Did any of the hedge funds double down shorting after this whole increase though - expecting/waiting for the boom?

I’d be amazed if they hadn’t. There is money to be made on this thing in both directions. If it starts getting above $1k then shorting it could be worth a fortune.

[Zell]

This whole situation is so fascinating, when I first read about it I had a huge smile on my face. Won't somebody please think of the hedge fund managers!

Whenever this sort of thing happens you can't help get that FOMO about it, but I've never really delved into share trading and I usually just invest in funds / unit trusts which have always given me a nice return.

[bob]

The one thing that bothers me about this, is that I suspect there are some redditors who got in early and are sitting on some massive gains, who are urging everyone else to buy and hold while they themselves are planning to sell before the bubble bursts and are just using everyone else to pump the price up.

[martinist]

I'm not really into buying stock at all. I considered buying Nintendo stock about a year ago since I like the company but I have no real idea on how to make money traiding.

I've just been sitting here watching old rich men lose their shit on Fox Business and MSNBC while I laugh my ass off.

It's nice to see some day traider actually make alot of money off of this and it's kind of making me want to get into traiding small stocks.

Edited January 29, 2021 by martinist
spelling

[Rummy]

I've decided I know that I want to take this oppurtunity to possibly help really fuck up a bad status quo that can often drive pitiful inequalities. I know it won't work and I know it's a waste but I've told a mate to get me £200 worth depending on a couple ranges on my behalf(not like either of us know what we're doing) fully prepared to dimehand it to the end and then earn my hands of diamond. Its stupid and reckless but fuck me its gonna feel funny if it works even if my money did shit all to contribute.

[Will]

Welcome to the club! As long as you’re happy losing the 200 then all good. I guess you’ll get about half a share for that when it opens but if things go in the right direction you still stand to make a bit of money.

I’m going to see how the opening goes and make a decision on what price to sell at from that. I definitely like being part of this thing but I’d prefer $10k in my bank account a bit more.

[Rummy]

2 hours ago, bob said:

The one thing that bothers me about this, is that I suspect there are some redditors who got in early and are sitting on some massive gains, who are urging everyone else to buy and hold while they themselves are planning to sell before the bubble bursts and are just using everyone else to pump the price up.
 

This most certainly be the case - but what else? It's exactly the nature of how these boom busts work - the early investors reap better than the late investors. The market is a gamble on smarts of timing of some sorts; and in essence using that to cheat energy gain rates as means of money(money IS just a medium of exchange after all - so what are you exchanging if the money is just the medium??) so yeah it does suck in a way that the phenomena you describe exists *if you are in a position of a late or non-adopter* but thats because we're human and this whole shindig if anything has highlighted the human factor massively - but there isn't any other way for 'this' to exist what is happened without the 'that' of early adopters winning big. It is in theory actually just a classic sort or normal distribution curve with the correct model if you zoom out enough - but when you're zoomed in as a human about profit and human things its difficult to consider that PoV, imo. And I should add this is ofc very my own PoV on all of this

[Rummy]

4 minutes ago, Will said:

Welcome to the club! As long as you’re happy losing the 200 then all good. I guess you’ll get about half a share for that when it opens but if things go in the right direction you still stand to make a bit of money.

I’m going to see how the opening goes and make a decision on what price to sell at from that. I definitely like being part of this thing but I’d prefer $10k in my bank account a bit more.

Yeah. If I want to I really can think of getting more easily but I live with a variety of 'buffers' even if they are amateur ones in my finances to hopefully buy me some time. I bought my house almost 7 years ago now though I haven't been working for 2 years now - but thats complex. I lived off savings. On top of this though I had decided when I bought my house to overpay everything and anything I could and given the terms I am on I'm well clear for at least a good few months mortgage break if not a year or two - that's where I put all my money. My land and the brick walls around me. I've got a well I *CAN* tap there if I want but obvs it has a greater barrier to doing so than cash or bank accounts transfers etc.

I kinda did it originally in my head not modelled on money but rather on a 'time buffer' ie. if something went super fucking wrong and I lost all my money/income how long could I buy time without paying the mortgage off to find any sort of cashflow income. I paid more in the past to ensure I'd have flex today - especially with the general economy and Brexit even all those years ago following 2008 - I figured hard times could hit us all. Stopping work was half seen covid wasnt; but I haven't had to be as uncomfortable as I could. Ofc I don't wamna sacrifice tons of that for GameStonks and dimehands but when you're talking mortgages £200 a good few months or years of overpayments on the terms is a small affordable - tbh probs saved well more in interest with my earlier repayments back in the day.

 

/financialramblez

[bob]

This most certainly be the case - but what else? It's exactly the nature of how these boom busts work - the early investors reap better than the late investors. The market is a gamble on smarts of timing of some sorts; and in essence using that to cheat energy gain rates as means of money(money IS just a medium of exchange after all - so what are you exchanging if the money is just the medium??) so yeah it does suck in a way that the phenomena you describe exists *if you are in a position of a late or non-adopter* but thats because we're human and this whole shindig if anything has highlighted the human factor massively - but there isn't any other way for 'this' to exist what is happened without the 'that' of early adopters winning big. It is in theory actually just a classic sort or normal distribution curve with the correct model if you zoom out enough - but when you're zoomed in as a human about profit and human things its difficult to consider that PoV, imo. And I should add this is ofc very my own PoV on all of this [emoji14]

I just think that some of them are being a bit dishonest by calling others to 'buy buy buy!' and framing it as sticking it to the man, when actually they just have their own interests at heart. I don't begrudge them getting in early and making shitton of money, because early on there was a lot more risk, I just think anyone buying in now needs to be cautious and know that a lot of the people on Reddit might have alterior motives.

[Ike]

I've been interested in starting to invest in stocks for a while but I have no idea where to start. Anyone got any tips, or know what apps are worth using?

[Will]

38 minutes ago, Ike said:

I've been interested in starting to invest in stocks for a while but I have no idea where to start. Anyone got any tips, or know what apps are worth using?

I use Saxo which is available in the UK and has great reviews. It’s a little more expensive to use than others available there it seems but I really like it. It has app and web portal and gives you a ton of data to trade numerous types of stuff. Other apps may well be better but I don’t have access to them.

I think the main thing is to invest in companies you believe in, consider it long term, and don’t worry about short term dips. Stuff like the Gamestop situation is not normal and you shouldn’t (generally) think about investing as quick money.

I’d recommend getting a trial account somewhere and play around with things for a bit. Ask questions and do some research then start off slowly and build up. Once you have a few decent investments it’s really nice to have your money actually doing something for you.

Alternatively open an account immediately and YOLO your life savings into gamestop then diamond hand it all the way to the moon and beyond.

[Esequiel]

I actually jumped on GME at $19 due to DPV posts on Reddit. Cashed out at $60 and made a nice profit. Now my trading platform has banned buying GME and AMC (IG platform) which is absolute bullshit - glad I got out when I did because I can see them bending everyone over with this now, and couldn’t take the stress of constantly checking the stock price. I prefer to buy and hold long term for retirement!

[Dcubed]

I've just been watching this whole insanity from the sidelines and wow! It's just absolutely bananas!

It's fantastic to see the hedge funds getting their commupance, but I can't help but feel that there's gonna be a LOT of people who will be left with tens of thousands of dollars in debt with hundreds of worthless stocks & options when GME inevitably tumbles back down...

It's one thing throwing in £50-£200 at this thing for a single stock as a laugh and leaving it at that (knowing that you're definitely gonna lose that money eventually); but it's another thing entierly when you see people throwing in tens of thousands praying for the roulette wheel to land on 69 Black and getting rich quick...

Edited January 31, 2021 by Dcubed

[Ike]

7 hours ago, Will said:

Stuff like the Gamestop situation is not normal and you shouldn’t (generally) think about investing as quick money.

Oh, got no interest in that. Tried downloading a couple of apps and they have stopped accepting new registrations due to an increase in demand due to recent events.

[Will]

6 hours ago, Esequiel said:

I actually jumped on GME at $19 due to DPV posts on Reddit. Cashed out at $60 and made a nice profit. Now my trading platform has banned buying GME and AMC (IG platform) which is absolute bullshit - glad I got out when I did because I can see them bending everyone over with this now, and couldn’t take the stress of constantly checking the stock price. I prefer to buy and hold long term for retirement!

That’s great! Glad their are people actually taking some profit from this.

4 hours ago, Dcubed said:

It's fantastic to see the hedge funds getting their commupance, but I can't help but feel that there's gonna be a LOT of people who will be left with tens of thousands of dollars in debt with hundreds of worthless stocks & options when GME inevitably tumbles back down...

Yeah, there is a huge risk of being left holding essentially worthless stock well below what you’re buying in at. The people who are putting their life savings in at $300+ are playing a very risky game indeed.

2 hours ago, Ike said:

Tried downloading a couple of apps and they have stopped accepting new registrations due to an increase in demand due to recent events.

Worth giving it another try this week, seems like they’re going to open it back up. It’s a good way to see which platforms are willing to cut people off I guess.

[Rummy]

This is not an investment. Nobody should be playing with this for gains with things they cannot afford to lose that id absolute stupidity. I've had a few people ask about it and I'm very clear that this is absolutely a market abberation like Tulips on steroids but also that I'm pretty retarded so this isn't advice but I like this stock.

[Rummy]

To follow tangetially from the above - to understand and play in these realms you need to invest not just money but time too. A large piece of which will be learning and self-education. Much material will be long regardless of its merit and you have to read it all before reaching conclusions(less likely in these quick dopamine hit worlds we live in now). However for those interested and willing to read I am currently approaching the end of this article - and its very much justifies many of the idealogical reasons as to why the dimehands like myself wish to HOLD. We know we're gambling against stratospheric odds - but fuck me won't it be the biggest miracle of our times if it pays off if we make it to that goddamned moon. And I'm not even talking about the money. The moon is just the start for these diamond hands.

http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html

[Rummy]

 

please meme it 4 me

[Nicktendo]

I ended up making an account on an investing site and dumped a bit of spare cash I had into Nintendo and AMD. 

I also took a much smaller punt on UK and European companies affected by Corona. I'm hoping that with a bit of time, they'll bounce back to respectable levels once the vaccines start getting distributed and lockdown ends. Ignored all the companies that were being shorted, but I did buy 20 shares in Nokia just to see what happens  GME has been rising again today, but I thought better of it.

I'm in it for the long term, not looking to make a quick buck and have been watching and researching for the past few weeks. I haven't put in a lot of money, just some stuff I had lying in Pounds doing nothing, so we'll see how it goes. It can't be worse than 0.02% interest! 

Thinking about investing a little in Crypto as well, but I've been advised not to do that on trading platforms, so may look into sorting out Coinbase in a few days.

[Ike]

2 hours ago, Nicktendo said:

It can't be worse than 0.02% interest! 

Whoa, big saver! Mine is 0.01% interest. There's hardly any point in having one. I'd close it if I could find the button.

[Will]

8 hours ago, Nicktendo said:

Thinking about investing a little in Crypto as well, but I've been advised not to do that on trading platforms, so may look into sorting out Coinbase in a few days.

I’m not sure you can really count crypto as an investment but its a good gamble that could net you a nice return.

5 hours ago, Ike said:

Whoa, big saver! Mine is 0.01% interest. There's hardly any point in having one. I'd close it if I could find the button.

Yeah they’re all terrible, I get more cashback from my credit cards.

[Rummy]

On 06/02/2021 at 1:50 AM, Will said:

Yeah they’re all terrible, I get more cashback from my credit cards.

I swear I saw something im passing about discussions being had with BoE banks financial services etc about impact measures of us going into negative inflation interest rates* at some point in the near future. Madness times to live if true eh.

 

*thank you Will for pointing out my glaring mistatement

[Will]

2 hours ago, Rummy said:

I swear I saw something im passing about discussions being had with BoE banks financial services etc about impact measures of us going into negative inflation at some point in the near future. Madness times to live if true eh.

You mean negative interest rates? It’s entirely possible though would be unlikely to be passed on to the consumer, you’d just see savings rates be even worse and borrowing rates hover around where they are now. If it happens it will be a pretty strong indicator of the economy being in a really bad place more than anything, they’ll avoid doing it if at all possible.