Investing • Page 56

Just curious, how did this all end up?

 

my wife and I ended up selling our 9/17 $20c in late August. We definitely held too long which was a lesson learned but we still cashed out handsomely.

we actually didn’t “cash” anything out since it’s in an IRA so it’s just realized gains for now but it ended up working out quite well, just not as well as we did originally. Try not to let that haunt me but accepting the fact we still had incredible returns.

We still have a bunch of shares and also in a smaller options position out into January 2022 in AMC but I think we are about to wrap it up with them for good after this next cycle.

I’ve been playing more small caps outside of AMC and having decent success there as well, still learning a lot of lessons that I never had to worry much about with AMC since we were so deep in profit so fast.

 

If you haven't been following the GameStop saga, this article does a pretty good job chronicling where it started and where it's going. Pretty good read imo

https://upsidechronicles.com/2021/0...are-trying-to-control-the-gamestop-narrative/

 

Guys are making serious money here, but I am now trying to sell some cs go skins to earn some money) I opened some cs go cases and got an Ak-47 Leat Museo. I could sell it for 40$ but my friend said me that I can win more skins if I bet my skin on CSGO Gambling. I did so and won many other skins for 500$ in total)

 

damn I forgot gamestop was still a thing lol

 

GameStop was only the beginning, the end times are upon us

 

Bane, is that you?

 

No one cared who I was until I bought the stonk

 

I mean there are plenty of GME $400+ bag holders waiting for it to come back. You can't lose if you don't sell?

 

Exactly, it's a winning strategy. You don't lose money as long as you don't sell, right? Stonks only go up until they go down, and when they do go down, you don't sell, so they only go up, technically speaking.

This is 100% financial advice.

 

that's why i still have my stupid dog money

 

This was a great article regarding the inherently immorality in short selling, and a great article highlighting why GameStop is a sound investment.

But at the end of the day, people only invested to get rich / for the lulz, not because GameStop is making a recovery as a company.

 

Oh yeah there was an explosion of first time buyers getting in on the craze in January when all the meme stocks took off. The FOMO was real. Hell I signed up for Robinhood and bought three shares of BB at $20 like a dummy. It's currently around $10 atm lol

That's what we should do in this thread, share our loss porn. Get some real investment advice going on in here.

 

I made around 3k with my managed crypto ETF this year, hoping to make another 1k.

not a big investor I just like to watch from the sidelines mainly.

 

It's funny, when I was younger and didn't understand the stock market at all (I still don't), I remember thinking ok why wouldn't everyone just buy stock in the most obviously successful companies like McDonald's and Coca-Cola and apple etc

Now I see how stuff as dumb as a tweet can trigger price movement and while some things make more sense, I understand the market even less than when I didn't know anything about it

 

Wow, Bitcoin is over 61k now. Pretty sure that's the highest its ever been!
Etherium hovering below 4k right now too.

 

It’s a good day haha

 

It hit 64k earlier in the year. Looking good though.

 

Man I bought some Ethereum at the last peak cause other people in the office were doing it and I gave into the peer pressure not really knowing what I was doing. Then it tanked and I definitely remember being like "I should buy a bunch more now so that way if it gets back up to its old high I'll make a bunch" but then also was like "I really don't know what I'm doing here probably better to just write that loss off"

then when it climb back up and turned a profit on the original investment I was like "oh nice lets sell now and make money while I can"

and now its like tripled in price since then XD

 

SEC published their 45 page investigation of the meme stock frenzy in January.

From their findings, GME was "the only stock that staff observed as having a short interest of more shares outstanding in January." They reported short interest for GME as 127%.

It turns out the secret ingredient is crime! As soon as my portfolio goes even $1 into the green I'm selling and never buying into the market again lol

 

i'd love to see your portfolio haha

 

uh you do realize there is nothing inherently illegal about the short interest being more than the number of shares outstanding, right? same shares can shorted multiple times

 

I bought 3 Blackberry at $20 because I'm dumb and it was the first stock I ever bought
I bought 1 Sundial at .69 for the lolz
And 20 Senseonics (SENS) at $2 because I actually believe in the company and I think they'll change the game for T1 diabetics like myself with their 180 and 365 day CGMs (Continuous Glucose Monitors). The other names in the CGM market, Dexcom and Abbott, are sitting around $550 and $120 per share respectively, and I think SENS can at least hit the level of Abbott in a few years, so I'm long on it. It's the only one I'm serious about.

Not so much a portfolio as it is a post-it note crumpled in my back pocket with old tic-tac-toe games next to my scribbled notes.

Never said it was, obviously you can short a company into oblivion. The real crime was when multiple brokers turned off the buy button for all the meme stocks in January to avoid margin calls and cover their shorts, which the SEC report infers that they never did cover. It also concludes that the buying pressure in January wasn't due to any "gamma" or "short squeeze" but was largely driven by retail, before market makers pulled the plug rather than face liquidation. Then market makers utilized false narratives for months on end through media sites like Benzinga, Motley Fool, etc to insist that they did indeed cover their shorts.

So when you have market makers who would rather turn off the game whenever they want rather than let retail investors take their gains, then that's not a game I want to play. I have no faith in the idea of a fair and free market.

 

lol you literally said "the secret ingredient is crime" when talking about their behavior

brokers turned off trading because violability was too high. which the TOS people signed up for gave them to power to do. again, not illegal

 

Robinhood, Charles Schwab, E-Trade, WeBull, and Interactive Brokers all restricted trading on some combination of GME, AMC, KOSS, BB, BBBY, NAKD, NOK, etc right when they were starting to take off and get more exposure in the public eye. Maybe not illegal, but doesn't it bother you that they literally turned the buy button off for very specific stocks to keep retail from buying in?