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Stock Thread (20 Viewers)
- Thread starter St. Louis Bob
- Start date
msudaisy26
Footballguy
As an amateur investor should I sell some Dogecoin? Bought a few hundred dollars worth at 5.8 cents a share.
Charlie Harper
Footballguy
JAA
Footballguy
In all seriousness, this is why Im throwing darts at double and triple 0 pennies. Im of the opinion that unless you are some sort of insider, the only way to have this actually happen is to get lucky. My approach is to find 5-10 tiny stocks in different industries which dont seem to have a lot of attention. Watch them over time and figure out whether to stay with those or move elsewhere. My second step, which Im shooting about 15-25% on is recouping my cost basis. Once that happens I free ride the remaining.
Now I'm talking about having a handful of stocks in my play portfolio which I see every day sitting at about 40-70% loss though with a minimal cost basis. I got 4 which have paid cost basis/free-rolling and 2 of those which are green and possible real FU money, one with 100k shares and one with 20k shares. None of these will make me a millionaire, but if I get better at this, I will increase my investment which would in theory increase my payout.
I share this as my approach to becoming one of these dogecoin multi-millionaires. I still grind and hedge with a number of other @Todem-esque stocks and long term investments like GRMN, LUV, AYRWF, GE, BLPD, RBLX, DEO, etc. Id love to hear of other strategies for mucho tendies if you got them. Feel free to include $CYDY chet lambo jokes if needed!
msudaisy26
Footballguy
I understand it has no use. There are also lots of things that have little to no use and still have value. I guess I am wondering if this is one of those things.
Exactly. Doge = tulips. In other words, irrational exuberance and a sign of the insanity.
Funny story. Former student mentioned Doge coin to me back in October 2020 and how much computer insiders like it. He also mentioned that it was meant to be a gag, really. When I researched it, I found it difficult to buy. It was trading at about a penny, if I remember correctly, maybe even less, but I didn't know how to buy it and it seemed dumb. I probably would have only bought a few hundred bucks worth even if I could execute the trade. Never did. OK, Sad, not funny.
JAA
Footballguy
Ill add my GME thread for the day
My Link
Ive shared that link before which is thanks to @David Dodds. Its a 1-min candle for $GME. I've been watching this ritualistically day in and day out like a tennis match. The action on this stock is absolutely silly. The attacks on momentum are consistent and absolute in an instantaneous fashion. You will see no more than 2 min of green and then 2 min of red. Like clock-work. I'm no finance guy, but there is no way the volitility of this stock is on the up-and-up. I dare you to find any stock with such clock work ridiculousness.
I have no clue on how it will truly end up, but I am long on GME. Ill also add sincerely that I feel I am on the morally good side of this deal. I realize there are no morals nor ethics in greed (cue Gordon Gekko), but I think its important for people to take a stand, especially for those with the financial ability to do so. Its not OK to try and short a company bankrupt. Its not OK to cheat the system with synthetic shares. Both of which I believe are happening.
My Link
Ive shared that link before which is thanks to @David Dodds. Its a 1-min candle for $GME. I've been watching this ritualistically day in and day out like a tennis match. The action on this stock is absolutely silly. The attacks on momentum are consistent and absolute in an instantaneous fashion. You will see no more than 2 min of green and then 2 min of red. Like clock-work. I'm no finance guy, but there is no way the volitility of this stock is on the up-and-up. I dare you to find any stock with such clock work ridiculousness.
I have no clue on how it will truly end up, but I am long on GME. Ill also add sincerely that I feel I am on the morally good side of this deal. I realize there are no morals nor ethics in greed (cue Gordon Gekko), but I think its important for people to take a stand, especially for those with the financial ability to do so. Its not OK to try and short a company bankrupt. Its not OK to cheat the system with synthetic shares. Both of which I believe are happening.
McBokonon
Footballguy
Ministry of Pain
Footballguy
msudaisy26
Footballguy
Bob Sacamano
Footballguy
Why did you buy it in the first place? Has anything changed about it since then? Can you afford to lose all of that money?
msudaisy26
Footballguy
Bought it as something to do almost a hobby that we hope could make money.
It has went up A LOT.
Yes, bought 300 dollars worth. Selling it all right now would be nice, but wouldn't change a thing.
CR69
Footballguy
Did you miss when doge holders sponsored a nascar team? It hasn’t been worth this much but 10x cycles have happened with every crypto lol.
Desert_Power
Footballguy
Bob Sacamano
Footballguy
Then it sounds like you have accomplished what you set out to accomplish. What would your alternative use of the money be? Do you prefer that to having it in Doge? Does that answer change if Doge goes to 0?
Personally, I'm not a believer and would sell, but I wouldn't have bought in the first place. So, I treat it like I'd treat anything I have bought. Answer the questions we just went through and then decide what to do based on alternative potential uses of that money.
And there's no reason it needs to be an all or nothing decision. You can take out your cost basis or your cost basis + some amount of profit and let the rest freeroll if you WANT to stay in it. Those sales are taxable events, though. Just FYI.
Charlie Harper
Footballguy
How long do you think people will hold a something useless instead of thousands of dollars?
msudaisy26
Footballguy
msudaisy26
Footballguy
People do it all the time look at trading cards. People hold stuff all the time trying to make money.
I am playing devil's advocate here and looking at both sides of the coin (see what I did here?) I appreciate all the input.
Craig_MiamiFL
Footballguy
Bob Sacamano
Footballguy
Her Doge are no different than anyone else's Doge. The NF in NFT means something.Maybe NBA Top Shot people can chime in.
@Worm I blame you that I'm defending these things. Might be the apocalypse. Just fyi.
Capella
Footballguy
My friend bought a 162 dollars worth that would be at 37k now.
But he sold it for a grand.
Pipes
Footballguy
Dogecoin emerged in 2013 as a joke. It was created by Jackson Palmer and Billy Markus to satirize the growth of altcoins by making the doge internet meme into a cryptocurrency. While it was birthed as a joke, it actually led to some practicality as it’s large supply and low price facilitated efficient micro-tipping content on social media. It is a derivative of Luckycoin which forked from Litecoin and uses a Scrypt algorithm. Dogecoin has 1 minute block intervals making it faster than other blockchains. There is no cap to the supply of coins and thus the coin can inflate infinitely.
And this is up 7,908% year to date? I guess I just don't understand investing in today's day and age.
And this is up 7,908% year to date? I guess I just don't understand investing in today's day and age.
Craig_MiamiFL
Footballguy
Robinhood up to its old tricks.
McBokonon
Footballguy
msudaisy26
Footballguy
identikit
Footballguy
Todem
Footballguy
When is the last time you ever bought something from Gamestop?Ill add my GME thread for the day
My Link
Ive shared that link before which is thanks to @David Dodds. Its a 1-min candle for $GME. I've been watching this ritualistically day in and day out like a tennis match. The action on this stock is absolutely silly. The attacks on momentum are consistent and absolute in an instantaneous fashion. You will see no more than 2 min of green and then 2 min of red. Like clock-work. I'm no finance guy, but there is no way the volitility of this stock is on the up-and-up. I dare you to find any stock with such clock work ridiculousness.
I have no clue on how it will truly end up, but I am long on GME. Ill also add sincerely that I feel I am on the morally good side of this deal. I realize there are no morals nor ethics in greed (cue Gordon Gekko), but I think its important for people to take a stand, especially for those with the financial ability to do so. Its not OK to try and short a company bankrupt. Its not OK to cheat the system with synthetic shares. Both of which I believe are happening.
Their model is done. They are way too far behind the eight ball and did not embrace the digital platform when it was apparent the trend in game buying was going there.
Also....I can get any game I want on Amazon....next day or two day shipping for the same price or better. That is just one option.
Trading-in games.....dead industry.
I see a retailer that will be out of business in due time. They had their run.....and now they are going to die a slow death.
I would never condone trying to trade this thing or more importantly invest in this thing when the options for video games are vast. Also PSN and XBOX Gold, Gamepass, EAPlay.....subscription services have taken over like a virus in video game purchasing and video game buying habits. Plus you get tons of free stuff with them. Even PSN....PSN Plus, getting games free, huge discounts on games, sales year round. They simply can’t compete.
My 2 cents.
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msudaisy26
Footballguy
Oh. I just sold about half my shares at .40 cents. So locked in some profit and still have some left. Anyone got any suggestions where to put my 1000 dollars?
NajehHejan
Footballguy
Just bought my first ever actual crypto. Used Binance US. Bought 5,000 of VET.X @ .1782. It is a supply chain crypto. The below article really peaked my interest.
https://seekingalpha.com/article/4415383-vechain-is-blockchain-investment-for-next-decade
https://seekingalpha.com/article/4415383-vechain-is-blockchain-investment-for-next-decade
JAA
Footballguy
Thanks. Great reply. Ive posted my feelings before on why I believe GME is a must have in our society. Without rehashing it (I guess I could go find my post), just as you can buy those things on AMZN, yet we still have WMT, TGT, and BBY. Just as you can buy a car online, we still have dealerships. Just as you can have groceries shipped to your door, we still have large groceries. Just as you can view movies streaming to your home, we still have movie theaters. I keep asking myself "why"? Why do we still have this in-person experiences?When is the last time you ever bought something from Gamestop?1 hour ago, JAA said:
Ill add my GME thread for the day
My Link
Ive shared that link before which is thanks to @David Dodds. Its a 1-min candle for $GME. I've been watching this ritualistically day in and day out like a tennis match. The action on this stock is absolutely silly. The attacks on momentum are consistent and absolute in an instantaneous fashion. You will see no more than 2 min of green and then 2 min of red. Like clock-work. I'm no finance guy, but there is no way the volitility of this stock is on the up-and-up. I dare you to find any stock with such clock work ridiculousness.
I have no clue on how it will truly end up, but I am long on GME. Ill also add sincerely that I feel I am on the morally good side of this deal. I realize there are no morals nor ethics in greed (cue Gordon Gekko), but I think its important for people to take a stand, especially for those with the financial ability to do so. Its not OK to try and short a company bankrupt. Its not OK to cheat the system with synthetic shares. Both of which I believe are happening.
Expand Expand Expand
Their model is done. They are way too far behind the eight ball and did not embrace the digital platform when it was apparent the trend in game buying was going there.
Also....I can get any game I want on Amazon....next day or two day shipping for the same price or better. That is just one option.
Trading-in games.....dead industry.
I see a retailer that will be out of business in due time. They had their run.....and now they are going to die a slow death.
I would never condone trying to trade this thing or more importantly invest in this thing when the options for video games are vast. Also PSN and XBOX Gold, Gamepass, EAPlay.....subscription services have taken over like a virus in video game purchasing and video game buying habits. Plus you get tons of free stuff with them. Even PSN....PSN Plus, getting games free, huge discounts on games, sales year round. They simply can’t compete.
My 2 cents.
Edited 11 minutes ago by Todem
If you believe all in-person is going away, sell all those companies and put it into AMZN. If you believe humans are social creatures and require social interaction at many levels, keep your investments in those B&M stocks. I believe gaming will always require some level of a B&M experience. I also believe humans are brand loyal, to a fault. I believe GME is not going away.
Desert_Power
Footballguy
Todem
Footballguy
So I do not believe in person experiences are going away. As long as the shopping experience is strong.Thanks. Great reply. Ive posted my feelings before on why I believe GME is a must have in our society. Without rehashing it (I guess I could go find my post), just as you can buy those things on AMZN, yet we still have WMT, TGT, and BBY. Just as you can buy a car online, we still have dealerships. Just as you can have groceries shipped to your door, we still have large groceries. Just as you can view movies streaming to your home, we still have movie theaters. I keep asking myself "why"? Why do we still have this in-person experiences?
If you believe all in-person is going away, sell all those companies and put it into AMZN. If you believe humans are social creatures and require social interaction at many levels, keep your investments in those B&M stocks. I believe gaming will always require some level of a B&M experience. I also believe humans are brand loyal, to a fault. I believe GME is not going away.
I still enjoy going to the mall (dating myself) and shopping for the holidays. My wife and I take pleasure taking food shopping dates and Friday night at Costco runs lol!!!!
However the Gamestop shopping experience is simply wretched. And a dead model to buy toys.
I have large positions in Target/Walmart huge believer in the In-Store experience.
But todays video game buying landscape has drastically changed and Gamestop is so far behind. It is a failed model and trying ton turnaround a ship that simply has taken on too much water and simply can’t compete....makes for a bad investment and the end results will be bad.
Again just my opinion. Good luck if you stick to your conviction on this stock. I respect anyone who has conviction on what they do with their money.
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Steeler
Footballguy
Todem
Footballguy
All I will say is I was on a conference call at 8AM this morning in regards to a volatile stock yesterday.
Game changer technology. Hold long with confidence. Ignore the noise and headlines from yesterday. A typical short seller trying to manipulate the market to their favor.
Unfounded and totally off base claims.
Game changer technology. Hold long with confidence. Ignore the noise and headlines from yesterday. A typical short seller trying to manipulate the market to their favor.
Unfounded and totally off base claims.
McBokonon
Footballguy
I watched the Scorpion guy do a CNBC interview and he didn’t come across credible at all. Didn’t give detailed answers, lots of generalities and evasive with some responses.
McBokonon
Footballguy
Out for the rest because I have to work out and then stare at my laptop until I finally admit to myself I’m not working today. Nice little cash raise today. $EBON.
Todem
Footballguy
Todem
Footballguy
Ridgeback
Footballguy
BassNBrew
Footballguy
What's any of this have to do with lift offs and gamma squeezes? Don't they teach you anything in finance class?
Todem
Footballguy
FreeBaGeL
Footballguy
I bought $500 worth while drunk one night. HODL'ed it through some losses and eventually took 20% profits when it rebounded. It would be worth more than I care to do the math on right now.
ericttspikes
Footballguy
ADBE has been on a nice steady climb the past couple of months. Almost up 100 pts from my adds in March and I hardly noticed. No flashy spikes, just grinding its way up.
Capella
Footballguy
I mean if our universities aren’t teaching the works of Roaring Kitty from Reddit than what are we even sending our kids to school for?
I don’t want to pile on too much but I think it’s funny mentioning the in person shopping of Target, Walmart and Best Buy (add Costco too) to Amazon because all 3 of those are also places you can go and buy the stuff you can buy at GameStop. Amazon isn’t close to the only competitor to GameStop online or offline and that’s not even getting to Microsoft, Sony and Nintendo.
