Charlie Harper
Footballguy
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Stock Thread (16 Viewers)
- Thread starter St. Louis Bob
- Start date
Dr. Octopus
Footballguy
Nope, don’t even plan to short a stock. I’m way too dumb to know how to do that properly without losing my shirt. I lived through LK basically losing almost all value in one shot because I own a lot of different stocks. I couldn’t imagine have potential losses bigger than the investment.
It’s a proxy vote. Even though I’m pretty sure I checked every paperless option at Fidelity, I still get those all the freaking time. There’s nothing special. Typically you vote on board members and other board proposals. I guess there’s still that “recall” shares hopes and dreams and evil hedge fund thoughts running around.
It’s amazing to me how much energy and thought is going into a company that’s basically like Best Buy or Sears. Incredible.
Capella
Footballguy
I haven’t but I have thought about shorting one (1) share of GME just to see how it works.
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Steeler
Footballguy
BassNBrew
Footballguy
Hey there...I made $900 on that trade in minutes. Tossing a pair of pants in the garbage was a small price to pay.
Capella
Footballguy
ok I will not be doing this never mind
Capella
Footballguy
McBokonon
Footballguy
This is true if you’re shorting with options. I think you can borrow less than 100 shares to short assuming you have a margin account. I’ve never done it but I think that’s right.
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Capella
Footballguy
Yea I mean Schwab is giving me the option (I have a margin account) to short at $149.30 but now I’m scared to pull the trigger.
McBokonon
Footballguy
Capella
Footballguy
Al Czervik
Not wearing pants
And not when some of the biggest millionaire (insider) traders are our representatives.
![[icon]](/data/avatars/m/5/5167.jpg?1660313464){kind=avatar}
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Insoxicated
[icon]
Insoxicated
Big Tax Hikes = Dems getting crucified in Midterms.
No way they're that dumb.
Well... they're probably not that dumb. They ARE politicians.
Caveman33
Footballguy
I was successful shorting Sears from $10.00 to about $.15 for a 99% gain. I went into it with at least 2X my short bet set aside to cover any short term upswing. GME is more intimidating. What would you do if the stock spiked up to 1,500 and you were down 10x your short bet?
I recently shorted BLNK after allowing a few puts to exercise. I was lucky enough to time my cover purchase well. The brokers also charge interest on shorts if the shares are considered hard to borrow, might start when the float is 10-20% borrowed and the interest is charged daily at an APR of ~10-100%
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Capella
Footballguy
kevzilla
Footballguy
Hold on there a second, Richie Rich. Some of us didn't grow up in The Parks with Curtis Mathes TVs, some of us had to make do with Philcos.
identikit
Footballguy
Caveman33
Footballguy
NFLX 4/23 $525 call is dead, $1.15 to $.08 but the 2 4/30 $530 calls at $2.45 still have a chance. I'm not optimistic about NFLX's long term prospects. I set a sell order for the calls at $3.25, but will go lower if the opportunity is there to get even or small profit. I figure if the stock has a good day on Mon or Tues and runs to $517, the calls could sell at that price.
RGR 5/21 $75 call at $0.95. I hope this one goes better. I've only played about 10 calls/puts so far but the puts have all been hits, not so much with the calls.
RGR 5/21 $75 call at $0.95. I hope this one goes better. I've only played about 10 calls/puts so far but the puts have all been hits, not so much with the calls.
FreeBaGeL
Footballguy
I daytraded for a living for a year while my business was shut down for COVID so I've done a lot of shorting. Very rarely hold shorts overnight though as it is exceptionally risky and can be expensive depending on the cost of the borrows. You generally pay 2-4x the normal borrow rate each night to hold overnight.
Caveman33
Footballguy
If you hold shares of GME, shorting would neutralize your position and you will likely have to pay borrowing interest.
Do you have a hundred shares? You could sell covered calls to capitalize on the premium and bring your cost basis down. Of course you will miss out on the hypothetical moon landing. I think you should sell your calls as limit orders so they only execute when the stock is going up. The momentum swings seem to have a large impact on option prices.
Caveman33
Footballguy
I've not experienced an overnight borrow charge. My broker determines the borrow rate after the trading day and charges accordingly if you held borrowed shares for any part of that day. Holding overnight just guarantees you will be charged for the next day. They charge on weekends and non-trading days as well.
beef
Footballguy
I'd want nothing to do with shorting crypto. I actually doubled down on RIOT premarket when it was on clearance for under $35.
Caveman33
Footballguy
Borrowing interest seems like one of the few high profit charges left for brokers. Trading fees have gotten competitive, but brokers are very selfish about the H-T-B charge. I think Interactive Brokers might share 50% of the fee with the customer whose shares are being borrowed. Hopefully, this will become more commonplace in the future.
Caveman33
Footballguy
beef
Footballguy
Under $35 put RIOT on the 100 day MA, and well below the 50. That sort of caught my attention. Plus I feel the recent crypto tax talks created an overreaction. Maybe it'll hit the 200 day again, and if it does I'll triple down.
I'm not a RIOT pro, excpet for maybe teh Quiet kind. This is just my opinion and what got me to add to my position...
Nick Vermeil
Footballguy
Al Czervik
Not wearing pants
Been using the last couple tough market months to try to educate myself on reading charts. From what I can tell, this looked like a good buy as there seems to be support around the low $34's. And it looks like you should be good until the next resistance level around $42.
Caveman33
Footballguy
The MA is a good thing to consider and one that I neglect. I think a lot of technical stock measurements have value because enough of us believe and act accordingly. It's like a self fulfilling prophecy. The max pain for RIOT options is at $42 so I wouldn't be surprised to see it find that level for awhile as people may act around it.
FreeBaGeL
Footballguy
You have to be careful being too aggressive buying around strong support on these trading stocks. Because while strong support can often lead to a bounce, if it doesn't it can lead to a major flush where a steady unwind turns into a panic selloff before you have a chance to react.
I'm also not sure I would have called $34 strong support on RIOT prior to this recent bounce. It looks like there were buyers there only 1 time prior to this last bounce so good that it worked out but wouldn't have been a strong conviction trade for me.
I'm also not sure I would have called $34 strong support on RIOT prior to this recent bounce. It looks like there were buyers there only 1 time prior to this last bounce so good that it worked out but wouldn't have been a strong conviction trade for me.
If I did shorts I would have been all over a company like Sears. With the volatility and spikes in crypto and GME, I wouldn’t even try. I’d think more about GME now because I think the interest is waning. It’s went from potential spikes every Thursday and Friday to maybe at the annual meeting on 6/30. That’s over two months away. The average attention span of people on Reddit is a couple days max, hence the need to keep rolling out the hey it’ll happen this Friday.
shadrap
Footballguy
First off I am not an experienced player of stocks. Question: so we have printed trillions & trillions of money. from what I've read over the years this means inflation big time & debasing of the dollar----------which means gold & silver go up a lot. Haven't seen that yet. how come? what am I missing?
FreeBaGeL
Footballguy
I'm not expert on metals but silver is already up almost 100% in the last year so I'm guessing that probably some if it is priced in already.
Also FWIW the fed keeps swearing that the current inflation track is under control and healthy. Not sure how many are buying it but that's what they're saying at least.
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One impediment to precious metals is likely Bitcoin. It’s supposed to play the same role.
Nugget
Footballguy
Modern Monetary Theory
Basically we print money until we hit our inflation target and then raise taxes to control it.
BassNBrew
Footballguy
Caveman33
Footballguy
There is some good debate about how much inflation the money printing will cause. I think the money is starting to reach the masses rather than just the selective wealthy, so I believe we will have some modest inflation like 4% rather than the target of 2-3%. Younger people don't view gold as the monetary hedge like their parents did.
Caveman33
Footballguy
All the short talk got me hot. I bought 15 puts on BLNK 4/23 $36.50 @ .18. It expires today. BLNK is a terrible company that will likely go below $5 within a few years. If this ends in the money I will let a few exercise just to get in short. HTB Interest is at 40% on BLNK.
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