OT: Stock trading

[HuskyHawk]

Watching Casino Royale tonight for first time.

And it amazing that the plot line involves shorting stocks.

Same with Trading Places.

Almost like shorting stocks and the high stakes of betting wrong has been around for a while.

It was around at UConn business school in the 80s. But these guys, they aren’t hedging, they aren’t covering the positions with spreads the way we were taught.

As I said before, instead they seem to be recklessly seeking to destroy these companies and extract their remaining value. It’s total BS. So I enjoy watching them burn.

 

[UConnSwag11]

Sucks. That’s happened to me with other stocks. Cannabis and gambling should be big going forward

 

[Chin Diesel]

It was around at UConn business school in the 80s. But these guys, they aren’t hedging, they aren’t covering the positions with spreads the way we were taught.

As I said before, instead they seem to be recklessly seeking to destroy these companies and extract their remaining value. It’s total BS. So I enjoy watching them burn.

Maybe it is reckless. Maybe it's the hedge funds the are reckless, maybe it's the Reddit bros.

Not my problem.

The total amount of money being tossed around right now is fractions of a percent of all money in all stocks, funds and equities.

 

[UConnSwag11]

 

[Kitaman]

i'll look for something more in depth for the whole things and not just JPM

What JP Morgan's $1 Billion Fine For Manipulating Metals Could Mean For Gold – Gold Silver Pros

Bloomberg reported on Sept 23, 2020 that JPMorgan is expected to pay a $1 billion fine for manipulating the metals … What JP Morgan’s $1 Billion Fine For Manipulating Metals Could Mean For Gold Read More »

goldsilverpros.com

This must be what my daughter was tipping me on. She says SLV is on deck because of JP Morgan.

Meaning the Reddit traders have them in their crosshairs. Weird (or stupid) that I brought SLV based on her statement.

 

[Jay-Bone]

Watching Casino Royale tonight for first time.

And it amazing that the plot line involves shorting stocks.

Same with Trading Places.

Almost like shorting stocks and the high stakes of betting wrong has been around for a while.

The interesting aspect here, is what business did hedge funds have getting involved with Gamestop? Why didn't they just stay out of it? Because they wanted to get revenge on the retail investors who blew up their space last year, see Tesla not shorting. They couldn't stay out of it, and it bit them in the arse.

 

[temery]

If trading is suspended, who gets to buy/sell once it's restored? Are there institutions that automatically get to be first?

 

[tiger8mush]

This week's stock competition:
@Matrim55 ... $GSAT = $1.18 on 1/25 9:30am
@UConnSwag11 ... $QYOUF = $0.17 on 1/25 9:32am
@Jaker ... $WPF = $13.855 @ 1/25 9:48am

Week 1 is in the books. Closing price & gain % below. Swag walks away with the easy victory!
$QYOUF = $0.221 (+24.9%)
$GSAT = $1.05 (-11%)
$WPF = $11.21 (-19.1%)

 

[CTBasketball]

If trading is suspended, who gets to buy/sell once it's restored? Are there institutions that automatically get to be first?

I doubt that Robinhood will fully restore free trading until this GME/AMC squeeze is over.

They lose money by the second.

 

[WhereistheDove?]

I doubt that Robinhood will fully restore free trading until this GME/AMC squeeze is over.

They lose money by the second.

I think he’s asking about when NYSE halts. I don’t know the answer though.

 

[CTBasketball]

I think he’s asking about when NYSE halts. I don’t know the answer though.

That’s also a possibility. I’m just afraid I won’t be able to get my money out in time.

 

[XLCenterFan]

Currently in the process of moving all of my stock from RH to SoFi (which trades as IPOE, and has been placed on the "restricted list" by RH). RH has a $75 transaction fee for stock transfers, and rather conveniently, SoFi now has a $75 transfer bonus for moving your stock to their platform.

RH is such a joke at this point. It's such a shame too because I plugged them to everyone and loved their product. I got about 10 free stocks for referring others to their platform. I now hope they go bankrupt. They had an upcoming IPO in the works, but after all of this I do not foresee that occurring. They will be lucky to be around in 2022.

 

[XLCenterFan]

Stocks are being treated like collectors items now. The value of some of these stocks has nothing to do with the fundamentals or the balance sheets or the company worth. Just like Beanie Babies, Cabbage Patch Dolls, Pokemon cards, etc. - it's a current trend. Beanie Babies are essentially yarn and fabric. Pokemon cards are cardboard. However, just like GME stock, if all of a sudden tons of people want them, they become valuable. IMO, its the same principle. Things are essentially worth whatever people are willing to pay for them, and stocks are no different. Am I wrong here?

 

[Waquoit]

Things are essentially worth whatever people are willing to pay for them, and stocks are no different. Am I wrong here?

This has always been the case. But this Game Stop stuff is exposing how full of crap these "experts" have always been. They just make up rubbish as they go along.

 

[Jaker]

If trading is suspended, who gets to buy/sell once it's restored? Are there institutions that automatically get to be first?

position size takes priority always.

 

[Jaker]

Picked up more NOK at $4.60

 

[CTBasketball]

Currently in the process of moving all of my stock from RH to SoFi (which trades as IPOE, and has been placed on the "restricted list" by RH). RH has a $75 transaction fee for stock transfers, and rather conveniently, SoFi now has a $75 transfer bonus for moving your stock to their platform.

RH is such a joke at this point. It's such a shame too because I plugged them to everyone and loved their product. I got about 10 free stocks for referring others to their platform. I now hope they go bankrupt. They had an upcoming IPO in the works, but after all of this I do not foresee that occurring. They will be lucky to be around in 2022.

How long does it take to move over?

 

[Jaker]

RH has had a stench permeating from them for months, smells similar to NKLA and Trevor Milton.

 

[XLCenterFan]

How long does it take to move over?

SoFi, the company that initiates the transfer on your behalf, once you give them your info from RH, says it takes 1-2 weeks to complete. I did some research and most places/people say it takes closer to 1 week.

 

[CTBasketball]

SoFi, the company that initiates the transfer on your behalf, once you give them your info from RH, says it takes 1-2 weeks to complete. I did some research and most places/people say it takes closer to 1 week.

That’s the dilemma I’m in. There’s a chance GME/AMC pops this week - all my funds would be tied up.

 

[Jaker]

Shippers are really looking bullish, TOPS up 30%, SINO up 16% at close on Friday

 

[XLCenterFan]

That’s the dilemma I’m in. There’s a chance GME/AMC pops this week - all my funds would be tied up.

If you’re on RH does it even matter? Haven’t they put limits on the amount of shares of those stocks we can buy? The other day I was limited to buying 1 share of some of these companies, and the days before that, zero!!!

 

[JMick]

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If you’re on RH does it even matter? Haven’t they put limits on the amount of shares of those stocks we can buy? The other day I was limited to buying 1 share of some of these companies, and the days before that, zero!!!

the fear is that the squeeze starts happening while your funds are in limbo and you can't sell them.

people will be left holding the bag and if you can't move your money then you're screwed

 

[JohnFSilver]

...

Purportedly, physical silver ETFs, e.g., SLV. Unaware of specific references of silver miners, but who knows what some people may conjure. Purportedly, not silver futures.

I am very bullish on silver.