I haven't actually picked an individual stock in years. I used to come up with really good ideas and then not hold them for long enough - I'd always panic and sell too early.
― longtime caller, first time listener (man alive), Thursday, 25 February 2021 00:07 (three years ago) link
I now have $4.75 of unrealized gains on ILATF
― sarahell, Thursday, 25 February 2021 00:14 (three years ago) link
ILBets
― longtime caller, first time listener (man alive), Thursday, 25 February 2021 00:24 (three years ago) link
most stocks dump after earnings these days. People play the run up and buy short term options and the volatility on the options goes way up and the day after earnings is a let down or just random and options' volatility gets crushed.
― Yerac, Thursday, 25 February 2021 00:29 (three years ago) link
The positive thing about that is, if it’s meant to be a medium/long-term investment, there’s an opportunity to buy more at a lower price, if pre-earnings doesn’t end up being an unrepeatable high.
― ... (Eazy), Thursday, 25 February 2021 03:35 (three years ago) link
listening to a podcast with the ARK head of research, pretty damn interesting tbh. Def taking with a grain of salt as to whether I'm listening to someone who generally has discovered some kind of unconventional thinking secret sauce or just a gladwell-esque storyteller
― longtime caller, first time listener (man alive), Friday, 26 February 2021 03:33 (three years ago) link
my account's broken even thanks to GME and AMC. insert rocket emojis here, degenerates!
― Nhex, Wednesday, 10 March 2021 17:51 (three years ago) link
GME is having an interesting one:
Day's Range 172.00 - 348.50
― Mr. Cacciatore (Moodles), Wednesday, 10 March 2021 17:52 (three years ago) link
lol - of course, i don't check for an hour and my gains were undone
― Nhex, Wednesday, 10 March 2021 18:04 (three years ago) link
can't be holding on to these ultra volatile stocks
― Mr. Cacciatore (Moodles), Wednesday, 10 March 2021 18:07 (three years ago) link
this is how people give themselves strokes...
― Nhex, Wednesday, 10 March 2021 18:19 (three years ago) link
good lord, it's climbing again.gotta remind myself i held from $300 to $40. anyone else on this rollercoaster ride?
― Nhex, Wednesday, 10 March 2021 18:33 (three years ago) link
i have been doing paper-trading and i am staying the hell away from GME because it makes no sense to me. i want a volatile stock but not that volatile
― himpathy with the devil (jim in vancouver), Wednesday, 10 March 2021 18:35 (three years ago) link
i just put down 15 large on mcdonalds
― Zach_TBD (Karl Malone), Wednesday, 10 March 2021 18:37 (three years ago) link
If you bought the dip an hour ago, you'd already be back up 95 points per share. Insanity.
― Nhex, Wednesday, 10 March 2021 18:58 (three years ago) link
gonna dump some money into this next time it hits $40 and then it'll immediately sink to $2 and never recover
― ✖, Wednesday, 10 March 2021 20:11 (three years ago) link
omg nhex, you've been holding since round 1???
― Yerac, Wednesday, 10 March 2021 22:59 (three years ago) link
did you average down at all when it was 40-50?
― Yerac, Wednesday, 10 March 2021 23:01 (three years ago) link
i don't understand the appeal of GME unless you are making all-or-nothing small bets with huge returns if you catch a spike
― am0n shaped post (Sufjan Grafton), Wednesday, 10 March 2021 23:04 (three years ago) link
i am not sure the answer you are looking for; people trade all sorts of things for all sorts of reasons.
― Yerac, Wednesday, 10 March 2021 23:17 (three years ago) link
i posted this in the slack but this was good and it did a pretty accurate job of describing what happened minus how wsb was making fun of Jim Cr4mer and he started talking about gme all the time so the attention to it started to blow up (she is kind of known at this point re: her NOPE indicator)https://nope-its-lily.medium.com/trading-salience-in-a-hyperconnected-marketplace-part-1-efbd93712dac
― Yerac, Wednesday, 10 March 2021 23:39 (three years ago) link
WSB's $GME play for seems like a kind of mass performance art or situationist happening, like levitating the pentagon only it actually gets off the ground for a bit here and there. I find the energy and nihilistic enthusiasm around it really fun and amusing tbh.
― longtime caller, first time listener (man alive), Wednesday, 10 March 2021 23:54 (three years ago) link
do not find amusing stories of people who "YOLO their mortgage" and lose though
― longtime caller, first time listener (man alive), Wednesday, 10 March 2021 23:55 (three years ago) link
they were doing that for other tickers before GME. people seem to forget the "bets" part of the name.
― Yerac, Wednesday, 10 March 2021 23:58 (three years ago) link
Weed stocks and experimental pharmaceuticals still seem to dominate the bets of WSB. YOLOing on the cure for brain tumors.
― Joe Bombin (milo z), Thursday, 11 March 2021 00:12 (three years ago) link
― Yerac, Wednesday, March 10, 2021 6:58 PM (one hour ago) bookmarkflaglink
does that apply to the 7.5 million+ people who joined the sub strictly because of GME?
― ✖, Thursday, 11 March 2021 01:38 (three years ago) link
I am so glad that I invest in relatively boring things and these bros aren't fucking up my spot
― sarahell, Thursday, 11 March 2021 01:40 (three years ago) link
meanwhile I watched about 45 minutes of a documentary about Warren Buffett the other night ... See's Candies are really fucking good btw
― sarahell, Thursday, 11 March 2021 01:41 (three years ago) link
xxpost does what apply? are the millions of new people forgetting about the bets part of the name? I know a lot of people drifted away from there because the amount of new people and bots made it unreadable, I am not sure what they are doing day to day.
― Yerac, Thursday, 11 March 2021 01:42 (three years ago) link
i'm saying that this happened on the backs of a lot of first time investors who got caught up in WSB memes promising them riches, who didn't know the first thing about stocks other than "oh you can trade stocks on an app now, how easy"
there were obviously tons of bagholders whose lives became worse when the stock dropped and i can't really blame for getting caught in the ultimate FOMO get rich quick scheme. the millions of people who got caught up in it weren't getting a message of "this is risky and stupid, be careful," they were getting TO THE MOON DIAMOND HANDS nonstop for a week. you can say "they knew what they were doing" but this all blew up way too fast for that to be the case
― ✖, Thursday, 11 March 2021 01:53 (three years ago) link
like literally the entire message of the sub that week was "IF WE STICK TOGETHER WE CAN NOT FAIL", do you really think the sub having "bets" in the name is more powerful than that?
― ✖, Thursday, 11 March 2021 01:55 (three years ago) link
um, i don't work for wsb. but the entire deal with the robinhood congressional hearings and people being upset about the "gamification" of broker apps goes beyond what happened last week and GME.
― Yerac, Thursday, 11 March 2021 02:31 (three years ago) link
you could very well replace gme with btc or pltr or cciv or any amount of other things there.
― Yerac, Thursday, 11 March 2021 02:35 (three years ago) link
i mean yeah, when this was happening i was comparing it to the 2017 crypto boom, which also saw a few smart early adopters make a lot of money on the backs of an enormous drove of late adopters catching FOMO, having no idea what they're doing, and holding the bags when it crashed. it sucked then and it sucks now
― ✖, Thursday, 11 March 2021 02:52 (three years ago) link
the entire market has been a huge garbage dump for years. people are in lockdown with no money or assistance from the gov't, of course stuff was going to get more bonkers.
― Yerac, Thursday, 11 March 2021 02:56 (three years ago) link
How do you get rich multiplying your investment by 10 buying a stock if you aren't already rich? I'd argue most of these lives would change more multiplying their investment by 0.1, which is the downside. Only people seeing anything special are buying options and then hyping shares. Why make them rich for a possible 10× upside at most?
― am0n shaped post (Sufjan Grafton), Thursday, 11 March 2021 02:57 (three years ago) link
And then post memes about how amazing they are bc you had 2 grand of unrealized gains
― am0n shaped post (Sufjan Grafton), Thursday, 11 March 2021 02:58 (three years ago) link
what? are you talking about those pump and dumpers with a lot of followers? like on twitter?
― Yerac, Thursday, 11 March 2021 03:03 (three years ago) link
anyone like that including the kitty, yes
― am0n shaped post (Sufjan Grafton), Thursday, 11 March 2021 03:04 (three years ago) link
i don't follow people on twitter although i know a lot of people do. i don't consider the gme guy in that category.
but for your first line about "getting rich" multiplying your investment by 10 if you aren't already rich, technically due to convexity of certain option plays, your initial investment can go up in the 1000s percent somewhat quickly. I am a fairly (by wsb) conservative trader and it is not unusual to see 100-500% gains on options, thus why retail jumped on them so hard last year.
― Yerac, Thursday, 11 March 2021 03:15 (three years ago) link
that is why I am saying you are probably taking on too much risk for the reward if you aren't making those option plays
― am0n shaped post (Sufjan Grafton), Thursday, 11 March 2021 03:17 (three years ago) link
what is the upside for the people who bought shares at 350? and then it is sad when they dominate a large chunk of current reddit posts. "Damn, bought at the peak. But i am holding, fellow apes."
― am0n shaped post (Sufjan Grafton), Thursday, 11 March 2021 03:19 (three years ago) link
sure? i mean i am not trying to convince anyone that "this is the way."i had a friend that was texting me about starting trading yesterday but he doesn't want to actually do any of the work around learning. it's a lot of work sometimes and people are generally terrible with money and don't want the responsibility.
― Yerac, Thursday, 11 March 2021 03:23 (three years ago) link
that was an xpost
lol and every post made by these people contains that same amount of compassion. I'm not accusing you of anything btw. Just trying to express what turns me off about the whole phenomenon.
― am0n shaped post (Sufjan Grafton), Thursday, 11 March 2021 03:30 (three years ago) link
wsb is basically 90% unusable due to GME, are you actually asking a real question? because there are trades to be made out of almost anything but i don't think that is what you want to hear. and that entire ape group thing I really don't know how that started. it's weird.
― Yerac, Thursday, 11 March 2021 03:31 (three years ago) link
i am not asking a question. i am also stating that the ape thing is sad and weird. it is the very thing that makes this trade difderent from the other trades to be made out of almost anything.
― am0n shaped post (Sufjan Grafton), Thursday, 11 March 2021 03:37 (three years ago) link
i agree that the same scam could be applied to other trades. I do think gamestop was chosen due to reddit nostalgia potential, though.
― am0n shaped post (Sufjan Grafton), Thursday, 11 March 2021 03:38 (three years ago) link
i had assumed it came from that bartstool guy or something sports related. I wish it hadn't gotten that much attention because too many outside variables got involved in what should have been a pretty straightforward thing.
― Yerac, Thursday, 11 March 2021 03:42 (three years ago) link
Apes strong together is a meme from the Planet of the Apes remake isn't it?
― Joe Bombin (milo z), Thursday, 11 March 2021 03:43 (three years ago) link