Sanrith Descartes
Veteran of a thousand threadban wars
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Investing General Discussion
- Thread starter Furious
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Sanrith Descartes
Veteran of a thousand threadban wars
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- 107,442
Ok, gonna do my occasional PSA. If you are gonna play meme/wsb stocks you gotta be aware that you are more than likely gonna be a bag holder. The way to limit this outcome is selling quick. This one of the few times in investing that being a pig is as bad as being a hog.
I have made money in a number of them (hello to you NKLA) but i was always one of the first out the door. BBBY quadruples and people are buying. Buying!
Remember the stocks sitting in the low single digits (and especially sub-$1) are so easy to manipulate because it makes deep OTM call options insanely cheap. These stocks get hit with massive amounts of OTM call options causing market makers to have to hedge and buy shares.
If the last paragraph doesnt sound like anything you understand, that is a sign you coukd be a bagholder in these stocks. If you insist on playing, set a moderate profit pecentage target and gtfo when it hits it. I would go so far as to put on a good till cancelled limit sell order to make sure you dont get FOMO and hold on too long.
Now lets return to your regularly scheduled programming.
I have made money in a number of them (hello to you NKLA) but i was always one of the first out the door. BBBY quadruples and people are buying. Buying!
Remember the stocks sitting in the low single digits (and especially sub-$1) are so easy to manipulate because it makes deep OTM call options insanely cheap. These stocks get hit with massive amounts of OTM call options causing market makers to have to hedge and buy shares.
If the last paragraph doesnt sound like anything you understand, that is a sign you coukd be a bagholder in these stocks. If you insist on playing, set a moderate profit pecentage target and gtfo when it hits it. I would go so far as to put on a good till cancelled limit sell order to make sure you dont get FOMO and hold on too long.
Now lets return to your regularly scheduled programming.
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Mist
Eeyore Enthusiast
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Just realized the 5000 dollar mutual fund order I put in in mid July never went through so I missed out on 11% gains because it was just sitting there in my core position. Must not have confirmed the last screen of the trade...
Just lighting money on fire things.
Just lighting money on fire things.
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Sanrith Descartes
Veteran of a thousand threadban wars
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Gravel
Mr. Poopybutthole
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Lumi
Vyemm Raider
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have not check in this thread for awhile.
back to watching local news with my morning coffee and newspaper instead of CNBC
don't bother logging into my investment accounts, content to just squirl money away into some safe sensible stuff and forget about it long term
Feels good to have all that bullshit from the covid boom behind me and know I am not a gambling addict "in recovery". Some might have said "but Locnar, you might get some of your losses back if you just do that ONE GOOD OPTION TRADE". naw, no thanks. I'll work and do it the old fashion way over time.
back to watching local news with my morning coffee and newspaper instead of CNBC
don't bother logging into my investment accounts, content to just squirl money away into some safe sensible stuff and forget about it long term
Feels good to have all that bullshit from the covid boom behind me and know I am not a gambling addict "in recovery". Some might have said "but Locnar, you might get some of your losses back if you just do that ONE GOOD OPTION TRADE". naw, no thanks. I'll work and do it the old fashion way over time.
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Gravel
Mr. Poopybutthole
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Which is strange because I saw last week that Regal was declaring bankruptcy.
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Blazin
Creative Title
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AMC is doing some weird split today. I didn't read the particulars because I don't care about AMC. Other ticker is APE?
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RDBX getting close a 5Y low.. I was assured this company who sells round mirrors from a vending machine was a sure thing bros.
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Sanrith Descartes
Veteran of a thousand threadban wars
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So here is a trend y'all need to begin tracking. The market absolutely pisses itself whenever I go on vacation. Going all the way back to the Xmas crash of 2018, this correlation is mighty strong. This is the "go short when Sanrith goes on vacation" trend. Ps.. i have been on vacation since late last week.
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Mist
Eeyore Enthusiast
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I put in an order for mutual funds on Friday, so of course it's fucked today.
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I switched everything to ETFs for this reason. I don't do a lot of trading, but when I do I want to know what I'm going to get.
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Sanrith Descartes
Veteran of a thousand threadban wars
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Next time I will post my vacation plans ahead of time so you can time the buy while I am away.
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Sanrith Descartes
Veteran of a thousand threadban wars
- 41,430
- 107,442
I mention this once in a while. An exciting day used to be 30 or 40 basis points moves in a day. Since Covid this 2 and 3 percent shit is the new normal.