The people who this market makes sense for are the ones who either have a second home (my parents had two homes and were splitting time between them, renting them out while they weren't there; they just sold one of them for a tidy profit to just live in the other full time), or people who want to relocate to somewhere with a lower cost of living (which doesn't necessarily equate to depressed). Rising tide lifts all boats, and all that. It also makes it easier to get a home equity loan if there's something you need it for.
I just sold our second house/investment property for WAY above market value. Bought in 2017 for 320k, sold a month ago for 425k. We listed it at 395k hoping someone would talk us down to 380ish, was on the market for a day and someone offered 425 if we signed the offer letter that night and didn't let anyone else see it. It was in CT, near the NY border. Good city, house was a 2 apartment split level. Both apartments were 2bdr. Our second house is in rural upstate NY. We paid 190 for it, refinanced around June and it was appraised for 230 so we took the full amount and pocketed the difference in equity while also lowering our interest rate into the lower 3's. If you have property in a place where the market is on fire and able to sell it, take advantage of it. Move somewhere cheaper, move to another state, get as much as you can out of that house because the market isn't going to be able to be sustained at the level it is at right now. Once the Covid protections end in December it's going to be a free fall for mortgages.
YOLO bitches! Tendies! Stonks! As the kids would say. $150 in AMC and $75 in NOK, they're both down. If they drop to zero I'll still get more entertainment value out of watching them than I ever have buying a lotto ticket.
I love how AMC volume today is 809 million. And yeah, I bought in today too for $200, just for shits and giggles.
It's such a small investment that I don't mind losing it all. So with that said, how many peaks and valleys do I have the stomach to endure? It's dipping now, but if that reddit magic is still potent and it shoots up, do I cash out or just HODL to the end?
Personally, I just pick a number that works for me, set a sell limit, and try to ignore it. Come back, see that the order went through, and the price still kept climbing, then shit on myself for being a pussy and getting out too soon, buy back in at the higher price, then lose everything I gained as it bottoms out and it turned out that I bought at the all-time peak. Your mileage may vary.
I need to be better at recognizing when I'm early on something. I learned about bitcoin when you could still mine whole bitcoins on a laptop; never mined any. I learned about this GME business when it was <$20; didn't buy. God only know what multi-million dollar information is kicking around in my brain being rejected by thoughts of "that's stupid, why would I do that?"
This is blowing up beyond any reasonable amount in the past week. Get in before it goes to the moon. https://www.nbatopshot.com/
It's fucking YouTube clips. Is the NBA going to purge every platform in the world of these highlight clips so you can only ever see them via topshots?
What's the crime, tho? This literally people on the internet just telling each other to buy stocks. No insider trading, no corruption. Are they calling it a conspiracy?
No it’s that the system is designed for hedge funds to win, not average Joes. The casino is kicking out the card counters.
There isn’t any. Fund managers are butt-hurt and are crying to the brokerages about it. It only gets dicey if they can prove Reddit mods are deliberately pumping the stock, who have gone out of their way to show that they aren’t. There’s nothing illegal about retail traders buying and selling stocks all at once, it’s just never really happened like this before.
They can say the hedge fund guys are doing the same thing when they go on MSNBC and say "you should sell all your stock because it's a failing company... that I have a billion dollars in shorts in". It's also interesting to see the group that bailed out Citron is the same one that finances Robin Hood. There just MAY be a bit of a conflict of interest. Maybe.
Interesting... https://www.cbc.ca/news/business/gamestop-wednesday-1.5889652 Two of the big shorts "admit defeat", but they still have the positions... it's not like they can cover them. This has to be an attempt to use the MSM to get people to unload their shares so that the price drops, and they can then try and cover their shorts. But if people still hold, come Friday they are fucked, as they price won't drop, and they will get called.
CNBC had guests on yesterday that was likely telling of how the fund managers view the whole thing. One guy said that there needs to be regulation. Another guy said that there is a lack of fundamental trade practice that the SEC should review. A third guy invoked everyone's new favorite boogeyman and said that it was all due to "foreign influence." All these guys rode the de-reg market for decades and now suddenly they have Elizabeth Warren's dick in their mouths as soon as the wind blows the wrong way.