You'll drive yourself nuts thinking like that. I was explaining to my wife that if I ponied up what we had saved for a house back in March 2020 and sold at GME most recent peak, we'd be millionaires. But..........I'd have had no reason too. And why would I have trusted some random dude saying I should?
It was up to like 8 cents over night. But it’s dipping right now. My “investment” in doge is more of an experiment to see wtf this whole thing is about. I don’t expect to make anything on it.
Yeah at some point this is going to be considered pump and dumping. Being an outside observer of this you just know the SEC will step in and regulate the shit out this day trading frenzy building over the past few years.
This is the guy that kicked off the GME rush on WSB and is north of $40 million... why WOULDN'T YOU take his early advice and throw cash at it a year ago?
Lol short interest has been increasing on GME over the last day or so. No one is giving up on either side.
To be fair historically wild speculation like this has not ended well for anyone. I guess we never learn anything from history.
Nope. Which is why I think a lot of the redditors are gonna eat shit pretty soon. If you had a couple hundred bucks tied up, it’s for the lolz. If and it’s a big if that some of these wsb guys are telling the truth about what they are dropping into these meme stocks, they might lose their ass.
Even though the guy who made the original assessment of getting into GME looks like a fucking retard, he actually had some pretty sound and compelling data behind his trade. Obviously he didn't expect it to shake out like it currently is, but his technical analysis was pretty spot on. If people on WSB didn't pile on this so much and didn't create this groundswell of information being public, DFV would have probably cashed out of his position when the stock hit $50-60 which would have been totally reasonable and most likely what would have happened with a minor short squeeze on the stock. The fact that it's trading in the 350 range right now is a black swan event he just happened to be completely positioned for. To the person who asked before how you can find out when a put contract expires, there is a public listing of all the available options and their expiry date on just about every website that shows a stock ticker. You have to pay for details on what companies and how much of the short % is due at a specific date which if you are a serious trader, you have definitely paid for access to the information. You can also make some guesstimates based off price movements and heavy / light buying on the option chain, but that's really difficult to do and kind of a waste as it isn't good data you are looking at.
Although the short interest is increasing, it's pretty deceptive because you have zero idea where the new shorts bought in. I can take a pretty healthy guess though they bought in yesterday at around 10 oclock, worked off the news of RH not allowing anymore buy orders and shorted to the near bottom of the trading day before they started the mid afternoon churn. These new shorts don't have the same requirements to pay off as the old shorts they had so they've got nothing but time on their hands to pay back the new shorts. Way longer then this can realistically go on. They'll make back everything and more they lost previously this week because wall street are fucking good at this, have near infinite money and resources, and retail is/does not.
They are trying to run the price to cover again right now. God damn these people are fucking VICIOUS. It's a solid reminder you don't fuck with rich people's money.
Some of what they are doing is simply causing the algorithms to see big sell orders coming through and start to "drop" the price, but realistically, those shares never actually change hands, it just makes it looks like they are selling. This starts to panic actual people holding shares who in turn sell their shares which drives the price down to the actual amount the market is flashing. Then the hedge funds buy and swap small share amounts to bring the price down further before getting a new level to churn at. The other HUGE issue is retail is being restricted from buying shares. If you only have one side being able to do whatever they want, and the other side can only trade 5 shares at a time, it makes it extremely unfair.
It also doesn't help the actual market is completely shitting itself again today. This is most likely due to these funds needing capital to cover the rest of their short positions in these stocks and having to play both sides of the market at once. It's EXTREMELY complex what they are doing, but it's basically all done by computers nowadays so for a big hedge fund you have a couple guys tweaking the trading algorithms and it pretty much works itself out. One of the big things people aren't realizing is there are multiple hedge funds helping each other out right now to help this along. Although retail is just a random collection of people with a similar idea, wall street is highly coordinated when they want to be and can manipulate and do just about anything they want to a stock or set of stocks given time and money. On top of that, retail being limited to what they could trade and the overall volatility of the situation, you can do a lot of questionable things in the stock market.
Plus, it’s not like people can just start opening accounts with other services. You can’t even access your money transfer until like 5 days after you initiate it.
I haven't had this issue with Fidelity. I am able to trade with money I transfer into my account immediately.