Anyone following the stock market and what the folks at reddit are doing?

I prefer to invest in Canoe coins.

WonkoTheSane (FS) said:

Steve_Jones said:

Snowdoggie (Forum Supporter) said:

Steve_Jones said:

2 weeks ago it was "the little guy bringing down the big guns" and this week "it's rigged"

No surprise. 

It was a surprise to the "little guys". 

Wouldn't have been if they paid attention. 

I think the biggest lesson here was not so much that "the system is rigged," I think it was surprising to a WHOLE LOTTA PEOPLE exactly HOW MUCH it was rigged.. I mean, the owner of Interactive Brokers said that if they didn't stop trading on GME, the price would have gone into the thousands and they had to stop trading to "protect the integrity of the marketplace."  Well, yeah, some funds made a really stupid move shorting more shares than existed, but how is that the retail investors fault for buying in against that?

By only allowing the retail guys to sell your stocks and not buy during the craziest frenzy in the past decade showed that they were willing to change the rules mid-game, allowing the funds to have a (expensive) exit.

To modify the above example, this would be allowing F1 cars to enter the spec miata race after everyone was already left the pits and the green flag is waving.

Rigged yes, but Wallstreet has had it's rules, traditions, and regulators in their pocket for over a century.  r/wallstreetbets and retail investors are the disruption to 'the way things have always been done'. I see the analogy more as a Spec Miata club (r/wallstreetbets) showing up at an established F1 race (hedge funds). 100 Miatas have 'no business' on the track, but the F1 cars can't maneuver or get up to speed. Miatas are about to take the lead, so the officials panic and wave the yellow flag saying, "This can not happen".

Does that make more sense?

CrySmile said:

Trading on the stock exchange is always a risk that can be compared to a [barrel over a waterfall].

is there a cryptocurrency for canoes?

Dang. I've been playing with Dogecoin recently, but maybe we could fork that and start Canoecoins. *that* would be epically awesome :)

There was just too much hype on Yahoo Finance/Reddit/Discord. I can't sell. I bought more GME at open today. Oh Noooooo.

Not thinking long term, but playing on hype and volatility for the day. Weather has me pretty much shut down at work, so I can sit at the computer and play the game all day. try to sell the peaks and buy the dips. ...pretty sure my money is gone by the end of the day, but up $100 (on todays bet) in 10 minutes.

Do NOT try this with more $ than your lunch money.

Update: OOps, sold in the $130s, then bought a 'dip' in the $120s and it's still dipping ...$87 ...$86.

Honestly with how rigged stocks are and how overextended currencies are, I am looking seriously at some crypto. I bought bitcoin last week and have nearly doubled it already.

Javelin (Forum Supporter) said:

Honestly with how rigged sticks are and how overextended currencies are, I am looking seriously at some crypto. I bought bitcoin last week and have nearly doubled it already.

My stepbrother actually just sold his... right before Tesla declared they'd accept it as payment and it shot up another $10 grand. There's gonna be a split in September and I'm waiting until then to see if I want to buy in when the value craters again.

The real job right now tho, is finding what crypto is going to replace Bitcoin and making that good guess. 80-90% of bitcoin has been mined and more than 50% is lost forever; coupled with it's current extreme cost and the hard cap on the number of transactions it can have in a day, I'd argue that Bitcoin will be hoarded by a few like dragons and monopolized in the future literally becoming the centralized currency it was supposed to replace while something else takes the mantle. King bitcoin is dead, long live bitcoin sort of thing.

In reply to GIRTHQUAKE :

I agree. I bought some Etherium as well. I don't know what the next bitcoin will be though.

I'm throwing in with Dogecoin, from what it seems, 5% "inflation" now that is capped at a fixed # of new coins/year (which means the quantity of new coin will continue, but % inflation will drop over time) so there is still an ongoing incentive to "mine" and provide shared computing power to the network. 

GameStop flying back up.

Personally grabbed some zillow and redfin which are way down currently.

johndej said:

GameStop flying back up.

Wow.  You're not kidding!  Currently $184.35

Lots of debate about how the new stimulus and increasing debt will lead to more inflation, and "deflation" of crypto. Interesting time to be in the market!

Mr_Asa said:

Decided to start an excel sheet with stocks I'm interested in, but for budget reasons are not ones I am going to buy. I'll check in on them in 2 week increments to see how they're doing.

Today:
RDFN - 85.39
NOVN - 1.52
ATOS - 3.80
TSNP - 1.77
CHMA - 4.50

 

Not today, but heard about it a week or two back

DNMR - 45.17 (decent jump here, up to 55.71 as of right now)

So, most of these have taken a pretty solid beating.  The entire market has, though so that isn't too surprising.

RDFN - 60.66

NOVN - 1.53

ATOS - 2.15

TSNP - 3.29

CHMA - 3.05

DNMR - 34.23

GME broke $200/share earlier this afternoon

I sold three GME yesterday at $195, so I wont feel as bad when it comes crashing down. I put most of it into another share of TSLA at $565. At the moment GME is up 17.75% for the day and TSLA is up 12.5%, so GME is doing better and may go 'to the moon'. Still, I feel good about shedding a little GME to lock in a gain, while buying TSLA at 'the dip'.

GME $230 now. Crazy.

STM317 said:

GME broke $200/share earlier this afternoon

Now over $300.

I woke up this morning just in time to cancel a limit sell at $275. Starting to feel 'gain fatigue'.

In reply to AAZCD (Forum Supporter) :

Trading halt due to volatility.  Dropped from $340 to under $200

Remember, this happened last time too.

Watching the climb back up is as fun as watching the drop wasn't.

Mr_Asa said:

In reply to AAZCD (Forum Supporter) :

Trading halt due to volatility.  Dropped from $340 to under $200

Remember, this happened last time too.

 

I had raised my limit sell to $348 (I like to keep a sell on above my expectations) and it SOLD just before the drop. The peak was, according to Yahoo $348.50. I didn't mean to sell and I'm trying to buy back in now at 'market' and it won't go through. The freeze is froze. Wild ride today.

engiekev said:

Lots of debate about how the new stimulus and increasing debt will lead to more inflation, and "deflation" of crypto. Interesting time to be in the market!

coindesk - March 6th, 2021

1,900,000,000,000 / 340,000,000 = $5,590 dollars of added debt for every man, woman, & child in the U.S.

I really, really don't want to be taking out a loan to fund other people's get rich quick schemes.

In reply to RX Reven' :

With the Pandemic, and spawn of crypto currency's, We definitely are entering a new era, How it ends, I know not.

Indy "Nub" Guy said:

In reply to RX Reven' :

... How it ends, I know not.

Cheap electric cars and shuttles to Mars or roasting synthetic hotdogs over camp fires in the ruins. Either way is fine with me. The society gets what it earns.

I was just thinking how we see the market jumps on the (likely) approval of these stimulus and wondering how that matches with the future loses because of inflation.

The irony here of course is that, at least somewhat, those that are heavily in the market are somewhat protected from the damage, while those who are not will (eventually) be hurt by it.  And those of course are the people these things are supposed to (at least in stated intent) help.

I think it's a dip... I just sold a TSLA and got in 2 deeper at about $270. If I was trading options, I would have run out of gambling money long ago.

Christies and Bonhams just announced they will be accepting ETH for transactions.