OT: Investing/Stocks/Bonds/Mutual Funds/Crypto

[Kerb Hohl]

I would call myself financially literate. Not a genius of investing/the market, but I just put all of my 401k, IRA, etc. in long-term ETFs and let it ride. I have a bit more income to maybe try some pet projects or a small amount to throw into individual stocks just to see what I can do, but I'm pretty boring.

But one thing about this Gamestock thing was, there is literally a post of me a few days ago saying, "the wall street guys will win" and this is too good to be true sort of stuff. Well, I had so many friends that are more into stonks than I am and others on this board arguing the sound investment of it, I was even goaded into buying a share (and then another) near the peak. Now I'm holding probably forever until it runs back down to where I felt it would at like $10 or something because there still might be a short spike (lol)!

I mean this was all for fun with hopes of a miracle of tripling my money (I got in late). The goal on my end was to buy some of the meme stocks and sell out after a day's profits on that one day that the momentum on all of them was crazy...and it probably would've worked if not for the Robinhood thing. Anyways, put me in the group that for some reason was willing to blow $500 on this because a lot of people I consider smart were pretty convinced this was at least a reasonable gamble...and maybe it was. I'm lucky that I have money to be able to lose and I didn't go crazy with it, either and will just go back to making long money and maybe picking some non-meme stocks.

[humanrefutation]

GME down below $70, retail investors losing huge. Impossible to have seen this coming, tbh.

If you're a retail investor and you haven't sold out of GME by now, I don't know what to tell you. I would have sold out when it was at $300 a share last week. That was never going to be sustainable.

I don't think many people saw it as "sustainable." People saw it as an open act of defiance, **** the big guy.

I understand and am very sympathetic to that notion, but the bottom line was always going to be financial. 99% of retail investors didn't get in simply to **** the big guy - they got in to make a buck. The steam was always going to die on this as short positions were closed and those bargain investors starting taking the profit and running.

[Siefer]

GME down below $70, retail investors losing huge. Impossible to have seen this coming, tbh.

If you're a retail investor and you haven't sold out of GME by now, I don't know what to tell you. I would have sold out when it was at $300 a share last week. That was never going to be sustainable.

I don't think many people saw it as "sustainable." People saw it as an open act of defiance, **** the big guy.

I want to be clear, I was being sarcastic in the above (and I'll never use green font). This was predictable, and I think that the "f the man" thing is both wildly overblown, and a mostly retroactive justification. Also, it's just not how any of this works. You don't stick it to the designers of Monopoly by putting a hotel on Med Ave. There was no defiance, no class struggle. I think it's pretty likely money actually transferred up the ladder. This isn't a direct shot at you folks, but I've been deeply frustrated by these being the common sentiments everywhere I look.

[skones]

If you're a retail investor and you haven't sold out of GME by now, I don't know what to tell you. I would have sold out when it was at $300 a share last week. That was never going to be sustainable.

I don't think many people saw it as "sustainable." People saw it as an open act of defiance, **** the big guy.

I want to be clear, I was being sarcastic in the above (and I'll never use green font). This was predictable, and I think that the "f the man" thing is both wildly overblown, and a mostly retroactive justification. Also, it's just not how any of this works. You don't stick it to the designers of Monopoly by putting a hotel on Med Ave. There was no defiance, no class struggle. I think it's pretty likely money actually transferred up the ladder. This isn't a direct shot at you folks, but I've been deeply frustrated by these being the common sentiments everywhere I look.

When Robinhood shut down trading on the stonks, my facebook feed lit up with angry people openly claiming they don't care about money anymore, they want to spite all of this, so I don't agree. People were pissed, and were prepared to do things whether it made them money or not last week. Twitter also lit up with the same talk with the hive mind openly searching for platforms which would allow them to invest.

Obviously I'm aware that "nobody ever saw this coming" was sarcasm. On the flip side, I don't think anyone thought, hey, Gamestop trading at 300, 400+ was ever sustainable. That wasn't the expectation.

[Siefer]

I'm not denying people said that stuff. I'm saying I think most of it was hot air, and also deeply silly. And yeah, the "HODL" crew was shooting for a $1k spike, that they could then dump on hapless short positions. They thought they were recreating the VW short squeeze.

[Stannis]

Yea, I think everybody knew it was unsustainable. But RH and other brokers restricting buys totally screwed everything up and basically fast-forwarded everything and didn't give traders the time to plan. People who didn't put stop-losses and limit orders were screwed. And it as understandable as the movement was just starting so people were still actively trading and manually monitoring things.

If traders knew brokerages were going to slap restrictions, of course they were going to be more careful and maybe not even try to get in on the action.

These were new rules implemented.

It sucks now, because stuff like this is always fun and you can make money if you plan to leave early. But now it's like we have to let hedges decide what we should invest in.

[midranger]

I think they did recreate it when the price flirted with 500 and probably would have gotten to 1k had robinhood and other brokers not boned them. Once that happened though the momentum was dead and the funds had a chance to sell out of their positions. It was over.

It was another classic example of “sell the news.” Once everyone was talking about it, you kind of knew it was over.

If you still hold AMC, I’d probably just hold it and go long with it. It’s a reasonable company that restructured out of debt and will reopen soon. I think it was trading at 7 as recently as September. No reason it couldn’t be at 10-15 by the end of 2021 (barring worsening of pandemic)

[Kerb Hohl]

Yeah, I bought AMC for the purpose of holding it.

When I first bought Gamestop, it was before the RH day thinking, "OK, I'll just see if I can make a gain and put a stop limit sale in, but I know this is not sustainable."

For AMC, I bought it with the purpose of holding. Even if the short squeeze spike didn't happen, that thing should be up by the end of the year.

[Siefer]

I think they did recreate it when the price flirted with 500 and probably would have gotten to 1k had robinhood and other brokers not boned them. Once that happened though the momentum was dead and the funds had a chance to sell out of their positions. It was over.

There's no defending what the brokerages did, which is somewhere between incompetence (running into cash issues) and corruption, but I also don't believe the populace as a whole was ever going to navigate this well. Maybe the early WSB folks would have spiked bigger wins? But the random folks buying in at $200+ were always likely to lose money. Even in the dream scenario, you have a massive squeeze event, the price soars sky high for a very shot period of time, and then crashes down spectacularly. It was at best foolishness to think only hedge funds would be the ones holding the bag.

[BUCKnation]

I got in pretty early at $90 after a friend gave me a tip, then doubled up again at $300 when it really was booming, right before the brokers shut it down. No doubt in my mind its at least hitting $1000+ without intervention. I should have sold back that half then, but I was heated in the moment, didn't and lost out.

Oh well, was well aware going in I could lose my investment, so I didn't lose anything too serious. Lesson learned, it was really fun for a week and I've made 10+% of my losses back already with other plays like Corsair and reinvesting into other favorites like Apple, Nike and some semiconductor companies. Look forward to use the knowledge gained to become a smarter investor though.

[Siefer]

I got in pretty early at $90 after a friend gave me a tip, then doubled up again at $300 when it really was booming, right before the brokers shut it down. No doubt in my mind its at least hitting $1000+ without intervention. I should have sold back that half then, but I was heated in the moment, didn't and lost out.

I think it's pretty healthy to operate with at least a little doubt in your mind. One thing to be confident, another to be so sure you stop evaluating new information.

[jschligs]

Big fan of HERO, an eSports ETF that encompasses some big names (NVDA, AMD) and some smaller ones. Think it's going to do well in the next few years.

[midranger]

Anyone got anymore FCEL type hits they’re playing?

[MartyConlonOnTheRun]

The one thing I don't like about all the excitement is it just teaches bad habits. S&P 500 is up from 3.7k to 3.952 YTD. It's fun as hell and most of us are looking at is as gambling, but there are simpler and better ways to invest but all the general public gets out of this "oh the system is rigger".

[Lippo]

For you stock guys, got in RIOT and MARA around 10, way to get in Crypto indirectly ....

Both up another 40%+ today

Up 300-400% in 2 months..

[SupremeHustle]

Anyone got anymore FCEL type hits they’re playing?

Best tip I've ever gotten here. Gimme some mo'.

[WRau1]

Invest it all on $5 scratchers, imo.

[jschligs]

Buddy recommended ONTX so yesterday at open I bought 2,000 shares. Stock flew 40% overnight so I sold at open for a nice gain. Only to find out he got that one from reddit or something. Not surprised.

I've been scooping FCEL at any chance I can get, tying in some monthly options that are relatively safe. Been just raking in profits on those.

[SupremeHustle]

My cannabis portfolio today

[SupremeHustle]

Obviously not a stock expert but it just seems like FORD is too low long term. Ford has the electric SUV Mustang thing that will help as well. I went ahead and did a long-term play today.