My first day in the green since I jumped back into this. Up $118 from yesterday. $100 from AABB's .02 jump and $18 from CATV's .009 rise. Yes, 9/1000 of a dollar. That's the perk of holding 20K shares. I'm still in the red overall though, but that's ok. I'm still finding my way. Thanks for the input. I've never messed with penny stocks, so I'm trying to navigate my way around this mess. Just so I'm clear...if someone, or some entity, has a large block (Say 50-60M shares) they can manipulate the per share price by releasing small blocks of their holdings (Like the 1-10K volume changes I was watching exchange hands) and hold the price down to suit their purposes? And by releasing such small chunks, they're not really losing any of their control on the direction the stock moves? If that is the case, what would the motivation behind such a move be? The only thing I can think of is it's coming from the company itself to discourage day traders from flipping the stock and the wild peaks and valleys such actions create and to give the stock a bit of stability. The upcoming dividend brings up a whole bunch of other questions that I'm still trying to formulate.
Needs more red headband. And to be clear, someone probably from WSB did this, it's not like WSB is some coordinated entity that did it as a group. We just like the stock.
It's a bit more complicated then this, but simply put, they are treating the stock like they are trading FOREX, trading large blocks at micro amounts and making money off both the short side and the long side. If I control a large majority of shares and every time someone comes to buy or sell shares I am in almost full control for what they are going to pay because I'm setting the sell price and the buy price, I can just play arbitrage all day long. Those large blocks you see, it's almost never retail investors buying in huge chunks, it's almost always one fund shopping shares between multiple brokers for bulk transactions. For instance, let's say you want to buy 300 shares of AABB. Whoever is doing the active trading isn't going to just sell you 300 shares, they are going to try and bundle your 300 shares with 5 other people's 300 shares, sell off the trade to a broker and then rinse and repeat. If someone wants to sell 300 shares, same thing. What screws up this strategy of arbitrage is when people don't want to sell their shares and instead just keep buying and sitting on the shares they own. It's why wallstreetbets was telling everyone not to sell their GME shares back in January before the expiration of the most toxic options. If hedge funds can't package buy and sell orders to different brokers to maneuver through their own positions, they lose control of their ability to manage the stock price and the stock makes huge moves in either direction. The dividend is basically the company rewarding stockholders for holding the stock. This brings a twist into a hedge funds controlling of the stock because to be eligible to receive the dividend you need to be physically holding the stock by the dividend date. Now the hedge fund who was only worried about making money off arbitrage is having massive amounts of orders coming in because people want to get in on the dividend and get in cheaply. You ALWAYS see the stock price rise around the dividend date and then crash the day after. The hedge fund has long and short positions in this stock and is positioned to be making daily money off the regular trading of the stock so they have to be really on top of their game to manage the stock price to make sure they are making money all across the board.
For what it's worth, a lot of people think AABB is going to run tomorrow. They released their wallet to the public today, they will release the coin any time now, stimulus checks are hitting the banks, and crypto (ie...Bitcoin) is going crazy. We shall see... I only need about .045 to my break even point. Fingers crossed.
just got off my position in the green. Lesson learned, I’m not messing with companies doing that kinda business in Asian markets again. Only made a few bucks, but considering I wasn’t that deep into it I’m happy to take 5-10% gains all day in this market.
It just broke through the .28 resistance again. I'm up over 35% net. I'm thinking you should've held. $1-2 is quite possible in the next month or so.
wasn’t worth it for me. $1-2 is possible, but so is losing everything. From my perspective, bitcoin is volatile, and bitcoin in an Asian market is pouring gasoline on that. I never intended to hold more than a few weeks to see what it did. It proved to be just as volatile as I was afraid of, so I got out soon as I could once it got back in the green and I covered my cost basis. Worth checking out, not worth holding, for me at least.
It appears AABB may have moved coins into the distribution wallet, which means they may be releasing this week. Still no PR about them releasing the wallet on Sunday, so I'm wondering if they're just going to do a joint PR on the wallet and coin dropping? Right now it's hitting strong resistance at .33, but volume is way up again.
Fuck it. Lottery ticket time. Just put in an order for 1M shares of TBEV at .0007. What could possibly go wrong? EDIT: 20 minutes of DD and cancelled it. Something odd with this one. No news in a few years, the newest I saw was the hiring of a couple of new college grads to run the company in 2017. Volume on 03/16 almost 85M though. Someone is acquiring it for something. Maybe I'll throw $70 at it tomorrow for 100,000 shares and see what happens.
Be prepared for some major daily fuckery and powerdives in price... you'll probably want to buckle up and resist the urge to unload at the first major dip, as the Hedgies are doing some interesting shit to try and trigger scare-sales.
That's why I just put $50 in when it went down to $200. I've never been on this ride, just sat back and watched. I think there's gonna be some crazy fuckery going on with this for a while, and I just kinda wanna see where it goes and have something in it if the money printer turns back on, but not enough to cry about it it goes kaput.
One interesting thing that seems to have come to light is the fact that Robin Hood is fucking around with people's trades... when they buy GME, they are not actually purchasing the stock immediately, nor are they selling it immediately... they are able to queue up the stock and trickle it in whenever they want. This allows them to work with Citadel to help keep the price steady or drive the price down over time, by controlling when and how the stock is actually traded.
I got back in at $206. If it tanks down to $3 again, I've spent more money on far dumber shit. I can't imagine the lawsuits and scrutiny that RH is coming under.
I've had some money in VSTO for a little while now and while it's generally performed pretty flat, it did dip hard with the rest of the market a couple weeks ago and has slowly made its way back. Then at open today, it shot up 8%. No idea why. Since then it's dropped back down to about a 4.55% gain, which is still solid for a stock that only makes small swings. This stock isn't volatile by any means and avg volume hangs around 1m, and it's about 3x that as of now. I've held this stock on a hunch that their massive $1B+ backlog for ammo production and the insane demand will keep this company healthy. Last I saw, sales were up 255%, and with all the worry over firearms legislation, I don't see the demand or their backlog shrinking any time soon. Tried the same tactic with POWW as well, since they have a large backlog (not as much as vista, but still a few hundred million dollars' worth) and they've just been on the decline. Oh well, GME has offset those losses, and then some, by a lot.
It was raised in the Congressional Hearing yesterday... there are some VERY pointed questions that are basically calling out the collusion of the "free" RobinHood trading and how it might be a front to help the hedge funds control or manipulate more of the market than they would be able to otherwise. That's why Citadel didn't balk at loaning RH that $6b way back. It seems that the market is just a big fucking scam. lol
Never mind Citadel borrowing another $600m this past week... even more cash to fuck around with trying to control/managed/extend their short positions it seems.