The irony of the app being called "Robin Hood" is insane. So, given all this fuckery, I'm closing my RH account. Fuck them. What's a viable alternative for day trading while I poop at work? Most of my RH portfolio is index funds, I rarely buy individual stocks.
I've used E-Trade for the past 10+ years and can easily buy and sell from the app on my phone. I personally like the platform more so then others I've used, but it could just be a bias as it's what I learned on and continue to use this day.
This 220-240 trading level is CLASSIC short churning. Watching these trades go is hilarious. 10,000 shares on the buy gets jumped by the 100 share sell and buy over and over again. I've traded a lot of small cap stocks and have seen this happen so many times when there is momentum behind a stock. HFT and algorithms are a hell of a drug. *Edit - I"m actually really interested to see where we are at EOD on the short position percentage. There are some rumblings the short position has jumped dramatically which would indicate all of these hedge funds re-upped their shorts at the high $300 range to try and make money on the way down while churning and buying their way out of their original short position.
If the rumors of RH force selling held shares (as opposed to margin-calling some sort of option) are true, then that's insanely fucked and completely indefensible. Meanwhile I'm over here diamond handing my Apple shares since the early 90s. Any day now boys.
Yup. It seems all the major brokerage apps are blocking or stopping new trading in AMC and GME. This has GOT to be illegal.
So this is basically the best thing to happen to crypto, isn't it? My $10 worth of dogecoin are now at $18.50. BTC is at $32.5k, that's probably too high to move much but I certainly wouldn't expect it to drop anytime soon.
Well the solidarity on the issue lasted about 30 minutes until AOC needed to make it about herself like she usually does. Has it actually dropped below 200 at all today, though?
In her defense, fuck Ted Cruz. Pretending to be mildly populist on Twitter while being married to a Goldman Sachs executive doesn't excuse the whole "attempting to overthrow the US government" thing he just tried.
Oh please, fuck her defense. She’s an attention-whoring cunt who’s more concerned about her social media rep than anything. I don’t really give a shit about Ted Cruz, but it looks like his wife is an MD of a wealth management practice. That’s a long way from running a hedge fund taking over-leveraged short positions. Solidarity on the issue could have been a great thing to wield when trying to protect retail traders from what is clearly an attack on them. But of course, it was quickly squandered.
If you think Ted Cruz offers good faith solidarity in anything, you're a fool. But we're getting too into politics for the finance thread.
Stop with that gaslighting bullshit. No one is defending Ted Cruz on anything, and that was not the point of what I said. I have no idea if his support is “good faith” or not, and I don’t really care. This whole thing is an opportunity for politicians to defend the average person they claim to care so much about and buck one of the sectors their parties get a lot of their funding from. The brokerage freeze on certain assets is such a blatant attack on retail investors, it should be a slam dunk in something to implicitly support, in a vacuum or otherwise. And in the context of that, which is ongoing and having an impact on people (including people on this board), I’d say commenting on it in this thread is fair game.
Seriously though. People got scraps during the biggest struggles of their lives this last year. Joblessness like we’ve never seen. And these people have done nothing but find ways to get even wealthier as a result. Remember when Loeffler and Perdue traded stocks on body bags n shit?