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3 hours ago, Sand said:

What be this?

“FOMO Corp., formerly 2050 Motors Inc., is focused on business incubation and acceleration. The company invests in and advises emerging companies.”

So basically he has 750,000 shares of Erlich Bachman.

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Trying to time bottoms is very hard. If you believe in the company long term I feel this price is a very strong entry point long term. Set it and forget for a while. When it doubles....take your

I will make a wager. If this stock hits $420.69 before this earnings call on March 31st, I will pass out 100 FBG subscriptions to the gents in the stock thread.

sponks

22 hours ago, stbugs said:

I’ve noticed that houses near some of the places I’ve looked for a 2nd/retirement home have seen a lot of increases lately. I figure with CV that beach and lake houses got a nice bump but I do think you are right about interest rates. Maybe people parking money at lower rates because they think that’s going away. I just refinanced and lowered the term to a 15 so I could double my principal payments so I’d have more money to put down when we want to move. By double I mean my payment amount goes up by $X moving to a 15, but the lower interest rate means the principal increase in each payment is $2X. Basically gives me a 100% return on the extra money. That’ll be good because I’d like to put down more when we move because I do anticipate rates being higher so we’d finance less.

Local/Individual factors could overwhelm in either direction, but the long term unlimited dollar printing effects this a lot IMO.  Stocks aren't the only assets being inflated systemically.

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Charlie covers the GameStop situation nicely starting around 25 minutes in

https://youtu.be/ta9FfikSl9M

Bottom line: The stock has moved so much from where it began ($6 a few years ago) and with only 70 million shares of stock, it's game over for the shorts.

IMO, We have already gamma squeezed this stock. 

The first act saw this shoot to nearly $500. Melvin Capital may have exited their short position, but lots of copycats continued to hammer this all the way back to $40.

This past week was the second act having this skyrocket to 180+ in afterhours trading.

They say a good movie has 3 to 4 acts. Lots of contracts came in when this finished above $100 on Friday. This week will likely be Act 3. It might last a day or a month. If the price remains high each Friday, the problem keeps snowballing.

Act 4 is when the SEC of Congress halt trading in GameStop to figure out a solution.

My approach is I will be creating a narrow channel of buys and sells with the hope of day-trading this for a profit of $25-30K a day until the moon event happens. Ideally I will end up with nearly as many shares each day as I started with (maybe more if I am feeling adventurous). I will always be a net buyer on Fridays as I suspect efforts to suppress the stock price are needed to minimize even more call contracts in the money.

I think AMC is in a very similar position with one major caveat. They have a zillion shares so I don't see it moon bound (and probably not even halted). I do think t's a perfect candidate for day-trading.

As for me, I am not going to have my money in anything else. I sense this problem is going to ripple through more hedge funds than we think.

This is not financial advice. I am a retired football analyst that is mostly in this for the LULZ.

 

 

 

Edited by David Dodds
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7 hours ago, Swaymoney said:

What are you expecting the stock to do?

Someone posted it in the penny thread and im taking a gamble.  Thats all.  im not advising it 

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Ok, just to add a little be careful on some of these high flying stocks, read this article about FSR:

https://www.theverge.com/platform/amp/2021/2/26/22279995/fisker-inc-electric-vehicle-interview-solid-state-batteries-ocean-suv-spac 

That article sure doesn’t give you the warm fuzzies especially since Fisher has gone bankrupt in the past. If they have just now given up on advanced battery technology and basically depend on other companies to do everything, what’s their value and competitive advantage? Are they just another low cost LCD TV or a Yugo?

Stock’s up 75% in the last few days because of the Apple car deal. Oops, sorry it’s with Foxconn. I means every announcement says Apple supplier since it gets more clicks. That partnership is a little weird given that Apple wants to create a competing product to Foxconn/Fisker.

Anyway, just food for thought as a lot of these SPACs are still priced to perfection, less so a week later, but still. Many will succeed in the future, but the vast majority won’t be good investment after the initial pops. Just thinking long term here, not buying and selling after pops.

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26 minutes ago, Swaymoney said:

As in a half share?  

Half a Bitcoin 

 

I don’t actually expect this to happen. Just falling pretty good. 

Edited by Capella
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15 minutes ago, Capella said:

Half a Bitcoin 

 

I don’t actually expect this to happen. Just falling pretty good. 

Agreed, based on what I've heard the growth could be, buying at these drops makes sense.  Some think it can reach $500,000 by 2030.

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Update on my holdings(non retirement)

CZR - added last week as I think the epicenter stocks bounce as the reopening story continues

DKNG - have been holding forever, 2.5 bagger...not selling until April at the earliest for tax reasons

HZAC - cheap SPAC, great management team

MAR Stock and Calls - added last week as I think the epicenter stocks bounce as the reopening story continues

SI - took profits a week or two ago, have my cost basis in it now after almost 3 bagging

SRNGU - My new favorite SPAC - sport radar rumors linked to Cuban and other big insiders...could fly, doubling down on Monday

IPOE Call options and Stock - Disappointing but I think after the shorts are out this thing could fly hence July calls

TWTR - Long position, will definitely be choppy in short term with interest rate pressures

BTC - bought the dip this weekend

ETH - bought the dip this weekend

ABNB - bought the dip, big believer this is a long term winner

DMTK - Mixed emotions but love the product, with interest rate concerns could sell on next bounce

 

My expected buys this week:  SRNGU - double or triple down.  Square and Paypal are maybes, love both long but could be choppy short term.

Edited by TripItUp
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4 minutes ago, TripItUp said:

Update on my holdings(non retirement)

CZR - added last week as I think the epicenter stocks bounce as the reopening story continues

DKNG - have been holding forever, 2.5 bagger...not selling until April at the earliest for tax reasons

HZAC - cheap SPAC, great management team

MAR Stock and Calls - added last week as I think the epicenter stocks bounce as the reopening story continues

SI - took profits a week or two ago, have my cost basis in it now after almost 3 bagging

SRNGU - My new favorite SPAC - sport radar rumors linked to Cuban and other big insiders...could fly, doubling down on Monday

IPOE Call options and Stock - Disappointing but I think after the shorts are out this thing could fly hence July calls

TWTR - Long position, will definitely be choppy in short term with interest rate pressures

BTC - bought the dip this weekend

ETH - bought the dip this weekend

ABNB - bought the dip, big believer this is a long term winner

DMTK - Mixed emotions but love the product, with interest rate concerns could sell on next bounce

 

My expected buys this week:  SRNGU - double or triple down.  Square and Paypal are maybes, love both long but could be choppy short term.

Big recommendation by the Motley Fool. 

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48 minutes ago, Swaymoney said:

Agreed, based on what I've heard the growth could be, buying at these drops makes sense.  Some think it can reach $500,000 by 2030.

Lot of people bullish on it. I’m skeptical but willing to find out.  

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1 minute ago, TripItUp said:

I don't really care...holding it long and wont' even look at price unless it really goes low and I'll buy more.

Just mentioned it as another buy in opportunity. 

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On 2/26/2021 at 11:24 PM, KGB said:

Currently in.

AAPL 1000 shares

AVGO - 100 Shares

ETFM - 750000 shares

NIO - 1000 shares

RIOT - 500 shares.

and a bunch of options for PLTR and NIO

Planning on dumping NIO and apple and day trading the MEME stocks for a bit.

I lost a ton and want to make it back.  plan on adding to RIOT.

dumping NIO in the AM before earnings.

adding PSTH from the reco here.

 

I placed a big wager in GME and lost a bunch.  So, I'm hanging back a bit.  debating on what to do 

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4 hours ago, TripItUp said:

I don't read their stuff but good to know.   That stock could be 1K in a few years.

Mind sharing your thoughts on why you like to so much? I haven’t followed the stock, looks like it just went public a couple months ago? I put a chunk in TripAdvisor a few months back and think this could be a play I also may like even though I’ve missed the initial jump. 

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On 2/27/2021 at 1:08 PM, McBokonon said:

“FOMO Corp., formerly 2050 Motors Inc., is focused on business incubation and acceleration. The company invests in and advises emerging companies.”

So basically he has 750,000 shares of Erlich Bachman.

I'm literally hoping it becomes a MEME. :ptts:

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1 hour ago, 2Squirrels1Nut said:

Looks like we're in for a nice open tomorrow. 

I'll believe it when I see it. Hopefully we're in for a couple of boring days before heading back up. Watch the volume!

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$MARA not showing up on robinhood.....uh oh.

 

*Looks like it's just because they changed their name this morning to Marathon Digital Holdings.  Should update after 11 am at the latest.

Edited by hooter311
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On 2/26/2021 at 1:24 PM, David Dodds said:

one of their lifelines just got severed. Borrowing interest on GME now at 9%

https://iborrowdesk.com/report/GME

I'm excited about this GME thing..

This post was glossed over but my puny brain is telling me this could be very important...

Does this mean hedge funds are now paying 9% ... instead of 1% ...on the GME that they've shorted?

Seems this is HUGE news for longs, no?

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37 minutes ago, Bossman said:

I'm excited about this GME thing..

This post was glossed over but my puny brain is telling me this could be very important...

Does this mean hedge funds are now paying 9% ... instead of 1% ...on the GME that they've shorted?

Seems this is HUGE news for longs, no?

Look at what the rate was on the 24th, when GME skyrocketed, or Friday a.m., when it dropped from ~$140 to ~$86.

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Could not sit on the sidelines any longer. Took the plunge and bought a modest 10 shares of GME at the open. 

To the mooooon! YOLO. Diamond hands and all that. 

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1 minute ago, Waingro said:

Could not sit on the sidelines any longer. Took the plunge and bought a modest 10 shares of GME at the open. 

To the mooooon! YOLO. Diamond hands and all that. 

Welcome to the party. 🤝🤝 There’s no food or drinks because we’ve all lost all of our money. Have a good time. 

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4 minutes ago, Capella said:

Welcome to the party. 🤝🤝 There’s no food or drinks because we’ve all lost all of our money. Have a good time. 

we are never going to the moon with that attitude!

Think of it as saving on food and drinks in the short term to make long term gains!!

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26 minutes ago, humpback said:

I get it, you desperately want it to be true. The numbers don't really support it though (back to 450K available btw).

I wonder how many of the hedge funds have boxed positions on GME. 

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5 minutes ago, General Malaise said:

I wonder how many of the hedge funds have boxed positions on GME. 

I don’t know hedgie, why don’t you inform us of your evil ploy, hedgie. You disgust me trying to keep money from the masses.

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6 minutes ago, JAA said:

Opened hot.  Now tempered.  Lunch time crash and burn?  Where are those martinis?

I hope I'm wrong but seems like a bounce to me. We'll see where volume settles after the opening rush. I'm staying on the side still. Good for short term traders though!

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Just now, jamny said:
7 minutes ago, JAA said:

Opened hot.  Now tempered.  Lunch time crash and burn?  Where are those martinis?

I hope I'm wrong but seems like a bounce to me. We'll see where volume settles after the opening rush. I'm staying on the side still. Good for short term traders though!

Well ... I need a couple more weeks for my pennies to turn around.  The last 1-2 week pullback has been brutal

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The only play Im pretty solid on the next couple weeks is DKNG.  I have pretty high confidence March Madness is going to put people in a good mood.  We need another UMBC or nuns-in-chairs to get the fires hawt!

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10 minutes ago, JAA said:

The only play Im pretty solid on the next couple weeks is DKNG.  I have pretty high confidence March Madness is going to put people in a good mood.  We need another UMBC or nuns-in-chairs to get the fires hawt!

One small data point, saw on the news that January set a record for online betting (at least in Colorado),  NBA was #1 which bodes well with football going into its off-season.

What blew my mind was the #4 most bet sport in terms of $ amt? Freaking Table Tennis! Even more than hockey!

Edited by Buckna
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9 minutes ago, Buckna said:

What blew my mind was the #4 most bet sport in terms of $ amt? Freaking Table Tennis! Even more than hockey!

Same reason Macau is so popular and why Asian games are put front and center in many casinos.

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31 minutes ago, JAA said:

Opened hot.  Now tempered.  Lunch time crash and burn?  Where are those martinis?

I'll settle for this kind of tempering any day.

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12 minutes ago, Sand said:

Same reason Macau is so popular and why Asian games are put front and center in many casinos.

Table tennis is still popular because it was the only sport going for parts of the pandemic.

Russian liga leagues run 24/7/365

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15 minutes ago, Sand said:

Same reason Macau is so popular and why Asian games are put front and center in many casinos.

I don’t doubt your explanation or that lack of other betting options helped drive the numbers but Asians only make up 3.1% of the total population of Colorado, less than the national average. The percentages of those that bet online and average bet size vs other ethnicities must be orders of magnitude higher to drive the betting that high.

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14 minutes ago, Capella said:

God. Every ####ing day. 

Seriously, although I’ll take today as is but the swings each day are crazy. Still thinking we aren’t quite out of the woods yet although I’m also thinking on the other side that I should have bought more than I did at the end of last week. I want to finish my buys so I can basically be locked and loaded for a bit.

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