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Raptorman |
My father worked for Bell South as a microwave data communications engineer. (LOS teletype systems between the MCLB and NIKE base) Well, the Lucent from the breakup became worthless in the dotcom crash and 2.4 MILLION dollars went poof. Never even got to sell it on the dead cat bounce. I have 10K shares of T now as that is what was left has become. 1983 was the breakup and the shares were bought at just under $5 from a high of around $60 when they were sold and bought at $4.95. 1000 shares turned to 10,000. ____________________________ Eeewwww, don't touch it! Here, poke at it with this stick. | |||
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W07VH5 |
I'm holding one whole share. | |||
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Spiritually Imperfect |
Yep. It’s entertaining, I’ll say that much. | |||
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Only the strong survive |
Sell when it breaks the 8 EMA. 41 | |||
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Fighting the good fight |
Interesting... Would this be a true rally, or just the proverbial "dead cat" bounce? (Rhetorical, unless you have a working crystal ball, in which case hook a brother up.) | |||
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His Royal Hiney |
What software is that and what do you use it for? I know it's for stocks but is it for day trading or for when to buy / sell for the long term? "It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946. | |||
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Only the strong survive |
Shares Outstanding 5 69.75M Float 45.05M % Held by Insiders 1 27.33% % Held by Institutions 1 122.04% Shares Short (Jan 29, 2021) 4 21.41M Short Ratio (Jan 29, 2021) 4 0.37 Short % of Float (Jan 29, 2021) 4 78.46% Short % of Shares Outstanding (Jan 29, 2021) 4 30.70% Shares Short (prior month Dec 31, 2020) 4 71.2M Looks like it may be a shorts covering rally. 41 | |||
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Only the strong survive |
It is Steve Bigalow's optimized trading line which works on any time frame. He has free trading webinar every Thursday night at 8PM EST: https://stephenbigalow.com/events/This message has been edited. Last edited by: 41, 41 | |||
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Help! Help! I'm being repressed! |
I found this entertaining. | |||
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Spiritually Imperfect |
Aaand... we’re back. GME broke through $200 briefly today, before settling at $193. Sold enough to recoup most of my original investment, now riding some free shares. And as it goes higher, I’ll buy some Puts at lower prices for the inevitable slide back down. | |||
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Spiritually Imperfect |
Up and up it continues to go. Will probably cross the $300 mark, today. I’m buying April and July puts today, as well. | |||
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Only the strong survive |
Hope you were watching it. It dropped $170 in 1/2 hour, then back up to finish the day at $265. 41 | |||
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186,000 miles per second. It's the law. |
Lot of people lost their ass on that move. What a smack down. Hedge funds are all over this thing. | |||
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Spiritually Imperfect |
Fortunately, I do not have stop-loss orders on GME (too volatile). I am now riding on a handful of free shares, after selling off gradually on this latest rise above $300. My April and June puts now sit and wait for the ride back down. | |||
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Alienator |
Cashed out half of my AMC shares for a nice profit yesterday. I'm holding on to the other half, in case she squeezes. SIG556 Classic P220 Carry SAS Gen 2 SAO SP2022 9mm German Triple Serial P938 SAS P365 FDE Psalm 118:24 "This is the day which the Lord hath made; we will rejoice and be glad in it" | |||
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Member |
I bought a small handful of shares and rode the initial rocket. Cashed out once it started to fall and made a little money. Last week I dumped a bunch of Johnson & Johnson stock that wasn't doing much of anything. Dumped it all into GME. | |||
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Spiritually Imperfect |
I probably bought them (or some of them). I picked up 100 shares that same day. Then sold a covered call on them for Apr16 expiration. Nabbed a quick $204. | |||
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Member |
Robinhood Trader’s Battle Cry: ‘It’s All Just a Game to Me’ This isn’t a bull market or a bear market. It’s a know-nothing market. Bragging rights used to go to those investors who worked the hardest at learning the most. Now the glory often goes to those who know the least and don’t even care. That has turned the traditional investing hierarchy upside down, although it probably won’t last. “I don’t know what the f— I’m doing,” a young man said in a TikTok video in January. “I just know I’m making money.” He added that he’d been trading stocks for only three days, but “just like that, made $300 for the day.” In the next few weeks that young man, Danny Tran, racked up roughly 500,000 followers on TikTok. At the WallStreetBets forum on Reddit, the online chat community, comments like “I can’t read” and “I have no idea what I’m doing” are common. Users insult each other’s—and their own—intelligence as terms of endearment and badges of honor. In February, commenters on WallStreetBets called themselves “stupid,” “idiot” or related terms 3,550 times, according to TopStonks.com, which tracks stocks mentioned on Reddit and other sites. Rise of the Know-Nothings Share of comments on WallStreetBets in which users mock their own intelligence Source: TopStonks.com Note: Based on counts of such terms as "ape," "stupid, "idiot," "I can't read," "no idea what I'mdoing" % April 2020 '21 0 1 2 3 4 5 6 7 8 9 10 11 Why are traders suddenly bragging about their own ignorance? NEWSLETTER SIGN-UP Markets A pre-markets primer packed with news, trends and ideas. Plus, up-to-the-minute market data. PREVIEW SUBSCRIBE Over the past year, as fiscal and monetary stimulus have flooded the economy with cash, U.S. stocks shot up more than 75%. As of March 23, 95.9% of the slightly more than 3,000 stocks in the Wilshire 5000 Total Market Index had a positive total return over the prior 12 months, according to Wilshire. No other one-year period has come close to that since the end of February 2004, when 93% of stocks had positive 12-month returns. You could have made good money even with bad stock picks. It was like being invited to bet on black, without limits, at a roulette wheel on which 37 of the 38 pockets were black. Why waste time and energy educating yourself while sheer ignorance pays off so easily? What’s more, many traders boasting of their own cluelessness are buying stocks with money they otherwise would have used for gambling. The expected value of a lottery ticket is generally less than 65 cents on the dollar. Casinos, sports-betting websites and online gaming outfits take less “vigorish” as their cut, but on average the house always wins. Most bettors know that, but no one minds—because the hope of winning is so exciting, no matter the odds. Now that just about anybody can trade commission-free, gambling on stocks offers a much better chance of making money than other kinds of wagers. “As far as gambling-style entertainments go, buying a stock is a pretty good form,” says George Loewenstein, a behavioral economist at Carnegie Mellon University. “You can track it over time. It goes both up and down. A stock is much more fun than a lottery ticket, which is static and which assures that you will almost always lose.” By switching from conventional gambling to stock trading, these speculators are already winners: They get at least as much entertainment value while paying much less to “the house.” So it can be rational for new stock gamblers not to bother learning about what they’re buying. Research takes time and effort, and if you’re trading stocks purely for entertainment, then “it isn’t clear that getting more information would help you very much,” says Prof. Loewenstein. Consider Mr. Tran, the TikTok trader, who just turned 22 years old. Last year, he lost his job in the shoe section of a department store in Phoenix. This January, he started trading stocks. “I had money laying around and I was bored and I just wanted to see what I could do with it,” he says. Does he do any research? “I personally think I’m too lazy for that,” he says with a deep laugh. “When I tell you I don’t know what the f— I’m doing, I really mean it. It’s all just a game to me.” Within days of his first TikTok video about trading, says Mr. Tran, he picked up more than 100,000 followers. “I just flexed money,” he says. Among his favorite buys: Tesla Inc., cryptocurrency miners Marathon Digital Holdings Inc. and Riot Blockchain Inc., Chinese electric-vehicle startup Nio Inc., AMC Entertainment Holdings Inc. and blank-check company Churchill Capital Corp IV. “The majority of the time I’m winning, with barely any knowledge, so it’s been a fun process,” he says. “Knowing what you’re doing would always be good, but in this market anything is possible.” Mr. Tran estimates that he put roughly $2,500 into stocks, which has grown to about $6,500 in less than three months. That doesn’t count all the rewards Mr. Tran wangled out of Robinhood and other trading apps. As his burgeoning numbers of followers opened new accounts there, referral links showered him with free shares of stock worth a total of about $3,000 as of this week, he says. “Where ignorance is bliss, ‘tis folly to be wise,” wrote the British poet Thomas Gray. One of these days, perhaps sooner rather than later, stocks will stop going up and the importance of understanding what you own will reassert itself. For the time being, though, investors who used to think of themselves as wise may continue to look foolish. https://www.wsj.com/articles/r...07?mod=hp_lead_pos13 | |||
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Spiritually Imperfect |
He hangs out on WallStreetBets on Reddit. | |||
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Fighting the good fight |
Another consequence of ignorance for the "YOLO Stonks LOL" crowd... Taxes! (There will be another round come tax season next year, when all the new folks who jumped on the WallStreetBets/GME/AMC/etc. bandwagon over the past couple months, and dove headfirst into retail investing with little to no preparation or knowledge, go to do their 2021 taxes.) From https://www.forbes.com/sites/s...ace-800000-tax-bill/
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