OT: Stock trading

[ClifSpliffy]

are BB and NOK part of this social media bubble? or are they true long term holds?

(edited grammar)

i have no idea other than to say that my new social media 'algo' has significant respect for those companies which own their own servers, therefore not relying on the big guys server infrastructure for ...anything, including 'approval' for their content. didn't we just learn that management here axed the pool, cuz of advertiser issues with the randy content? i certainly don't blame management for that -they've got a business to run.

 

[Matrim55]

are BB and NOK part of this social media bubble? or are they true long term holds?

(edited grammar)

They are both.

 

[aburks41]

Buying $GME puts for a Jan 2022 expiration - good idea or no?

Gamestop is a legit garbage company, and the reddit guys are just doing this to stick it to the hedge funds/ AM's. Once the buzz dies down and their next earnings comes out everyone will realize what a POS stock this is again lol

 

[HuskyHawk]

Nah. It would only hit the ultra-wealthy:

Wyden would change to a “mark-to-market” system. That is, for wealthy Americans who report income above $1 million or assets above $10 million for three consecutive years, taxation would no longer be tied to when people sell their stocks, artwork, or houses. It would instead happen every year that the asset gains in value. If I hold stock worth $20 million one year and it increases in value to $23 million the next year, I would pay tax on that $3 million gain when I file taxes that year.

How Ron Wyden’s tax plan would hit and change philanthropy

He would tax the rich’s capital gains as regular income — every year.

www.vox.com

It's a great plan.

Until those people pay taxes and then suffer massive losses, which happens. It's beyond stupid.

 

[UConnSwag11]

Nah. It would only hit the ultra-wealthy:

Wyden would change to a “mark-to-market” system. That is, for wealthy Americans who report income above $1 million or assets above $10 million for three consecutive years, taxation would no longer be tied to when people sell their stocks, artwork, or houses. It would instead happen every year that the asset gains in value. If I hold stock worth $20 million one year and it increases in value to $23 million the next year, I would pay tax on that $3 million gain when I file taxes that year.

How Ron Wyden’s tax plan would hit and change philanthropy

He would tax the rich’s capital gains as regular income — every year.

www.vox.com

It's a great plan.

The elites don't pay the taxes. They write the bills. It will hit and hurt the middle class

 

[UConnSwag11]

NOK will be a player in 5g and BB is moving into the cloud space so both have potential

NOK and GSAT

 

[uconndogs]

Nah. It would only hit the ultra-wealthy:

Wyden would change to a “mark-to-market” system. That is, for wealthy Americans who report income above $1 million or assets above $10 million for three consecutive years, taxation would no longer be tied to when people sell their stocks, artwork, or houses. It would instead happen every year that the asset gains in value. If I hold stock worth $20 million one year and it increases in value to $23 million the next year, I would pay tax on that $3 million gain when I file taxes that year.

How Ron Wyden’s tax plan would hit and change philanthropy

He would tax the rich’s capital gains as regular income — every year.

www.vox.com

It's a great plan.

Equity markets would crater. The need for liquidity would require constant selling and drive even shorter holding periods.

 

[Kemba'sYogurt]

I just locked up a 21% profit on my total capital today thanks to Reddit lol. The internet is forever undefeated.

Can the government do anything to stop this?

 

[Da_Aisijimo_Gou]

someone mentioned 'trading places.'

Yup, someone back on Jan 14

Algorithmic OJ

Starting that day, someone may have bought and exercised some GME calls and is buying GME puts after pre-planned sales of longggggg held, pricey mutual funds with great returns. Squeezing OJ

 

[goskis2018]

I just locked up a 21% profit on my total capital today thanks to Reddit lol. The internet is forever undefeated.

Can the government do anything to stop this?

Can it? Yes. Should it is another question. Wall Street has their guy in office so I wouldn't be shocked to see a push to regulate retail investors

 

[Da_Aisijimo_Gou]

Can the government do anything to stop this?

See new SEC head's regulatory track record

 

[LIuconn]

^ do tell

 

[LIuconn]

NOK is a head fake trying to shake people out of GME.

still?

 

[HuskyHawk]

I'm temped to sell everything. I just closed about 10 positions on what I perceive as the most overvalued stocks and funds

 

[DayDayTFS]

How about $CLOV? I bought in today, albeit small, as it looks to have potential

 

[casual-yardin]

The elites don't pay the taxes. They write the bills. It will hit and hurt the middle class

While I think the idea of taxing unrealized gains is ridiculous and won't happen the idea that a tax that only applies to people with over $1m in income or $10M in assets hitting and hurting the middle class is a pretty poor observation. Generally speaking the top 1% of income earners (which would line up pretty nicely with "elites" - whomever the hell they are) pay close to 40% of all income taxes at the federal level.

 

[LIuconn]

no way does taxing unrealized gains happen

 

[Da_Aisijimo_Gou]

I'm temped to sell everything. I just closed about 10 positions on what I perceive as the most overvalued stocks and funds

My take is quality, well-respected investment management companies, not just shorting shyters such as Melvin and other big GME shorters, may be selling across the board to free up cash. On the other hand, some quality US and non-US equities way down today may be relative steals and SPY and QQQ puts may be reasonable low cost hedging considerations. Then again, none of the preceding may prove to have any merit.

 

[aburks41]

Bought puts on $GME. Garbage company with no future in gaming since everything is going digital with next gen consoles. Reddit hype will die down by the time their next earnings comes out and everyone goes back to hating gamestop lol

 

[Minicoop69]

Bought puts on $GME. Garbage company with no future in gaming since everything is going digits with next gen consoles. Reddit hype will die down by the time their next earnings comes out and everyone goes back to hating gamestop lol

How far out and what strike do you feel is worth it? I am thinking about doing this also. No way Reddit people will continue to hold long term.

 

[aburks41]

How far out and what strike do you feel is worth it? I am thinking about doing this also. No way Reddit people will continue to hold long term.

Jan 2022 $1 strike. Not counting on it going bankrupt in a year but when the price comes crashing back down to earth in a few weeks I'll sell em for a nice profit.

 

[LIuconn]

Plenty of blue chippers took a nice 2-4% dip today

 

[Palatine]

Plenty of blue chippers took a nice 2-4% dip today

Get used to it.

 

[XLCenterFan]

Bought puts on $GME. Garbage company with no future in gaming since everything is going digital with next gen consoles. Reddit hype will die down by the time their next earnings comes out and everyone goes back to hating gamestop lol

How far out and what strike do you feel is worth it? I am thinking about doing this also. No way Reddit people will continue to hold long term.

I triple dog dare you guys to post these on Wall Street Bets.

 

[XLCenterFan]

I just locked up a 21% profit on my total capital today thanks to Reddit lol. The internet is forever undefeated.

Can the government do anything to stop this?

Of course they could. But why make it easier for the rich? Make them think twice before they make massive short plays that daddy Cohen has to bail them out of. The game done changed today.