Investing General Discussion

Furry said:

Didn't we start last year with lots of proshares leveraged etfs getting nuked from orbit? This year already feels close enough to Deja vu.

I just hope that this turns into a disaster big enough that Biden's first major bill is literally the wallstreet bailout bill.

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no idea i'm only a level four expert with 36 hours of experience under my belt

Talk of bubble. Earlier in the day Energy sector was the only sector green. It finished the day in the red, the least red sector. Why? State after state have been impacted with the Biden executive orders limiting oil leases which is a huge chunk of a number of states budget and impact millions of high paying jobs from engineers, pilots on down. Sure demand is going to go up now that the virus magically went away but just today have a list of multiple refineries and chemical plants in a small state that are having new layoffs and shutting down multiple lines for an indefinite period. I guess they believe flying will save it.

Gravel said:

That's what I've been saying.

All they've done here is made people say, "Fuck, I don't even care about the money anymore, I just want to stick it to the 1%."

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If I could see stonks as anything other than advanced gambling I would probably get more into this, but I seriously hope they get to fleece the 1% for everything they have.

Gravel said:

Yeah. If there's one thing we can agree on, it's fuck the rich.

It's pretty amazing to me that Reddit of all places is what caused us to reignite the class warfare from post Great Recession. They sidetracked us for a decade with a race war, but now it's game on again.

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The short was a well orchestrated deal with the hedge funds, the instituional investors and the broker that either skirted the rules and operated in the gray area or ignored them entirely.

Well orchestrated, till it wasn't lol. It didn't happen by accident. Wasn't some random aligning of the stars.

I'm old. I remember when I was much much younger and the internet wasn't a thing yet there would be sock groups kind of like computer groups. People would get together once a week or once a month and discuss what stocks to buy/sell and some of them would pool together and buy them. Apparently just discussing stocks now can be labeled hate speech. Not giving advice in the guise of professional stock buying advice. Just I bought X stock for Y reason. Hate speech. That's pretty damn dangerous. Of course not surprising in this day and age.

First job out of high school had nothing to do with the market at all. The owner bought wall street journal subscriptions for all the workers in the office. You'd browse through it at work and talk about things at lunch if something jumped out. That's hate speech now apparently. Oddly enough the owners brother was in a posistion to actually move markets being a near billionaire, I had no idea.