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Stock Thread (16 Viewers)
- Thread starter St. Louis Bob
- Start date
BassNBrew
Footballguy
CLIMULooks like Fidelity won't let me buy any CLIM.U right now.
Tried an order for "CLIM" after this and it said the symbol was not found.Hopefully I can order it sometime soon before it runs away.
Fidelity doesn't use the ".U"
Sand
Footballguy
Mark Cuban comments:
"“As long as we’re allowing companies to trade stocks in milliseconds, how can we expect this to be an investors market?” Cuban said. “Until you change that, you can’t change what’s happening with WallStreetBets.”
“When you short a stock, there’s a [vigorish] on it,” which is essentially a fee for placing a bet, Cuban said. “You have to borrow it and you’re paying some percentage to whoever owns a stock and is loaning it out. And as someone who has shorted stocks many times, you know when that vig is high, you know exactly what you’re getting into and you know exactly what the risks are and you just hope something like this doesn’t happen.”
He's kind of a tool, but he's a sharp tool. (I like the guy, and he's certainly right here).
"“As long as we’re allowing companies to trade stocks in milliseconds, how can we expect this to be an investors market?” Cuban said. “Until you change that, you can’t change what’s happening with WallStreetBets.”
“When you short a stock, there’s a [vigorish] on it,” which is essentially a fee for placing a bet, Cuban said. “You have to borrow it and you’re paying some percentage to whoever owns a stock and is loaning it out. And as someone who has shorted stocks many times, you know when that vig is high, you know exactly what you’re getting into and you know exactly what the risks are and you just hope something like this doesn’t happen.”
He's kind of a tool, but he's a sharp tool. (I like the guy, and he's certainly right here).
cheese
Footballguy
What if they feel like shutting us down on those? Or just stealing the money out of our account? Or just changing the price to whatever they want? Only letting people sell those?
QuizGuy66
Footballguy
I plan to get out tonight before the Friday threads start gobbling up market share.I got in at 20 members recently browsing
-QG
-QG
cosjobs
Footballguy
David Dodds
Administrator
Ok, I survived that craziness, got to an average of 8.44 and just sold off 1/2 my position at that price.
Lots of ammo now and holding at 8.44
Lots of ammo now and holding at 8.44
The puts have been so ridiculously expensive that, while one can make some money heading down, I would not describe it as cleaning up. That's for puts. How sweet would it be if they turned on a dime and started shorting it themselves. That's where the money is.
What did you think the spike was from? Do you really think GME fundamentally is worth more than $10-30 a share? Go look at the revenue bleed that halved this year. It’s not a good company to own. I don’t care if the Chewy guy invested, the ride up was as manipulated as today. If you honestly didn’t think that what happened today could happen then you should buy stocks when they are 5-10 times what the actual company value is. I’m sure I missed out on some gains but I knew that I’d time it wrong because I tend to hesitate sometimes and being late to these parties means a lot of money. I hope the folks in here didn’t get killed but I posted my thought as well. It was clear that at some point the stocks would blow up.
Sand
Footballguy
QuizGuy66
Footballguy
I am generally much more favorable to him than a lot of the other tools tis true. I love how he will slap down every scam product/scammer on Shark Tank without mercy.
-QG
FreeBaGeL
Footballguy
Well kudos to the 16 year olds on the internet who are actually willing to stick their neck out to try and do something about it. And shame on the boomer suits that are willing to just accept it and let the little guy get run over for all eternity.
cosjobs
Footballguy
General Malaise
Footballguy
Yup, as the old saying goes: Everybody talks their book.......
Added 150 shares of AAPL this morning. When sanity returns, I expect the blue bloods of tech to benefit substantially.
Zegras11
Footballguy
agree with all of this except boomer suits. The money was doing this way, way before boomers were born.
FreeBaGeL
Footballguy
There's a difference between "hey this thing is over shorted, if lots of people buy it will create a short squeeze the same way that MMers create short squeezes 2 dozen times a week" and "hey we're losing bad on this trade, let's call the owner of the broker they trade on and tell them to ban the other side from buying this stock we shorted or we will pull all of their funding".
If you can't see the difference there, I don't know what to say.
Moe Green
Footballguy
KGB
Footballguy
Because their P/E is still very elevated and their numbers could have been greater. And because a lot of money has been chasing the more lucrative plays like GME and the like.
Freak Show
Footballguy
Did I miss something on BLDP? I am still adding a little when it dips. I thought dirty hydrogen was the wave of the future, and this was a good company to be invested in?
Moe Green
Footballguy
If you are honestly asking this question, then you haven't been paying attention for the past 12+ years.
One
Not Allowed In Mexico
HellToupee
Footballguy
Why is Comcast up 7% so far today?
Sand
Footballguy
BassNBrew
Footballguy
Personally I feel like there's a better return owning individual stocks.
They aren't going to kill the goose that funds public companies.
Point taken.
This is like Arizona Ron promoting monogamy.
(Love you, BnB!)
KGB
Footballguy
David Dodds
Administrator
I was ecstatic with my AMC position yesterday at 13.62 at close. Today I have a few more shares at an average cost of $8.44. I will not be shaken. I guarantee these hedge funds used tremendous ammo to try and shake the small guys out. They likely have a worse position they need to cover for tomorrow.
Zegras11
Footballguy
cheese
Footballguy
Honest question from a noob. Has there ever been a case of systematically stopping buys on a specific stock and allowing sales to drive down the price? Is that manipulation normal?
Sand
Footballguy
I can buy GME on Fidelity.
Just jokin' with you, man. Hope all is well up your way.
Though if you can find 10-15% growing stocks for me every year I'll happily take them!
IvanKaramazov
Footballguy
General Malaise
Footballguy
Not doubting you, but where do you get the figure that 60% of hedge funds use Robinhood? They aren't a prime broker, are they?
Jefferies came out today and said "NO" on these stock names. That's a big brokerage house with several hedge funds as prime brokerage accounts. Crazy f'n times.
beef
Footballguy
"Your company run 401K's give you folks a couple of fantastic index tracking funds to invest in. You should all feel so privileged to be part of our amazing investing community!"
Charlie Harper
Footballguy
No I did not think GME was worth that price, but this was fundamentally different. The fund shorted 140% and tomorrow was supposed to be the first day they need to start covering.
No surprise they did everything they could today.
FreeBaGeL
Footballguy
Brokers halt stocks for extreme volatility sometimes. I'm sure legally that is what Robinhood will hide behind. It's obvious that's not what is actually happening here, though someone will have to prove it somehow.
Although a lawsuit may be unnecessary. Like Facebook or Google, Robinhood's product are it's users. And they just epically sold out their users. Without their users, they have no product, and I'd have to imagine they are going to lose a WHOLE lot of them over this.
Charlie Harper
Footballguy
No I did not think GME was worth that price, but this was fundamentally different. The fund shorted 140% and tomorrow was supposed to be the first day they need to start covering.
No surprise they did everything they could today.
cosjobs
Footballguy
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hagmania
Footballguy
FreeBaGeL
Footballguy
I don't think the numbers are that 60% of hedge funds use Robinhood, but rather that 60% of Robinhood's income comes from hedge funds.
I'm not sure if that's accurate, but it's been getting thrown around a lot.
Moe Green
Footballguy
Probably, but the scale of the manipulation has definitely been ramped up post-2008.
FreeBaGeL
Footballguy
Right, and of course what will likely come of all this? Probably more regulation on retail investors, nothing on institutions.
No different than the point I believe someone here pointed out early. The result of the institutionally caused dot com bubble was the PDT rule placed on retail traders.
cosjobs
Footballguy
