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wolfie09

Upstate NY Banter and General Discussion..

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8 minutes ago, BuffaloWeather said:

That reddit is pure gold.

Chamath is in. Now we have a Billionaire joining the Robinhood Reddit tards pumping this thing up.  LOOOL.  I have zero free cash in my trading account or I'd pile in for a quick trade.

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1 hour ago, Syrmax said:

Chamath is in. Now we have a Billionaire joining the Robinhood Reddit tards pumping this thing up.  LOOOL.  I have zero free cash in my trading account or I'd pile in for a quick trade.

Same here just got a quote for remodeling my kitchen, so all my cash is all going towards that or I'd be putting some in as well. Fun times ahead in the trading world.

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 Can one of you guys explain what I keep reading regarding stocks... that is shorting... Call me dumb but I’ve googled it and still don’t grasp it ..

I’ve just bought stocks and let them ride, though I did do a quick flip back went Kodak went to the moon in the summer...
that said I’d love a GameStop run on EV stock im currently 600 shares deep on...

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4 minutes ago, Polarbear said:

 Can one of you guys explain what I keep reading regarding stocks... that is shorting... Call me dumb but I’ve googled it and still don’t grasp it ..

I’ve just bought stocks and let them ride, though I did do a quick flip back went Kodak went to the moon in the summer...
that said I’d love a GameStop run on EV stock im currently 600 shares deep on...

Shorting is basically a strategy that bets a stock (or bond) or commodity will drop in price. Its the opposite approach to buying a stock and hoping it goes up in price.  

Read THIS

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Gamestop Explodes Higher As Stock Is Now Trapped In Gamma Vortex

This is the greatest thing I've seen in a while.  CNBC Buffoons all aghast.  Can't wait till tomorrow as my cash trading account has a lot of money settling.  Gonna be tempting to join the festivities....and there are many other targets to short squeeze. It's almost a daily ATM at this point.

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Enter the Vortex...GME up 27% already in After Hours trading. Just incredible how Planet of the Apes are working this thing over.

Update: just printed $240.  

Screenshot_20210126-164036_Stocktwits.thumb.jpg.d7b7d7b6dade5349e3002adbe533c328.jpg

 

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21 minutes ago, Syrmax said:

Enter the Vortex...GME up 27% already in After Hours trading. Just incredible how Planet of the Apes are working this thing over.

Update: just printed $240.  

Screenshot_20210126-164036_Stocktwits.thumb.jpg.d7b7d7b6dade5349e3002adbe533c328.jpg

 

I love it. We don't need hedge fund traders anymore and the rich controlling the market. Combined, the individual investors can actually disrupt the market. It's incredible. Have never seen anything like it.

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WSB told me to hold my 12.25 shares until they are worth least 1K each. Even now has been a healthy profit from an initial $200 investment. They're pimping BB and NOK now too. It's like 1998 all over again...

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2 hours ago, champy said:

WSB told me to hold my 12.25 shares until they are worth least 1K each. Even now has been a healthy profit from an initial $200 investment. They're pimping BB and NOK now too. It's like 1998 all over again...

This is very akin to 1998/99, in terms of an irrational Bubble.  We are very near the top i suspect. This whole Gamestop episode (and others like it that have been going on recently) make me think this is going to unwind violently sooner than later. We may be calling this the Gamestop Top.   Watch the Fed statement tomorrow. They may try to play with language to scare the markets a bit. Even though their policy have a hand in this bubble, they have to be looking for ways to vent some pressure here.

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2 hours ago, Syrmax said:

This is very akin to 1998/99, in terms of an irrational Bubble.  We are very near the top i suspect. This whole Gamestop episode (and others like it that have been going on recently) make me think this is going to unwind violently sooner than later. We may be calling this the Gamestop Top.   Watch the Fed statement tomorrow. They may try to play with language to scare the markets a bit. Even though their policy have a hand in this bubble, they have to be looking for ways to vent some pressure here.

What type of bubble are you thinking? I see stocks going up for awhile as we recover from covid. I think the real correction is 2-3 years from now minimum. 2020/1st half of 2021 featured lockdowns that severely impacted businesses and their reporting/numbers. Those numbers will likely skyrocket with gov't money and people leaving homes again. Lots of good data will be coming out.

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41 minutes ago, BuffaloWeather said:

What type of bubble are you thinking? I see stocks going up for awhile as we recover from covid. I think the real correction is 2-3 years from now minimum. 2020/1st half of 2021 featured lockdowns that severely impacted businesses and their reporting/numbers. Those numbers will likely skyrocket with gov't money and people leaving homes again. Lots of good data will be coming out.

It's more complex than that I suspect. But what you state, broadly, is the current conventional wisdom that has been fueling the "reflation" trade.  And its largely predicated on the idea that the covid tunnel will be ending soon. And that's probably too optimistic.  I could be wrong but the key i-m watching is the USD reversing higher with an increase in 2s&10s bond yields. More immediately, there is a slew of market technical indicators starting to flash real warning signs. One example is that the Put/Call ratio is at historic lows in an overheated market.   Don't know when this happens but I suspect February will be rough (its seasonality sucks also), so I am beginning to take profits and keep my trade durations on a tight leash.  In fact, the best thing working is day trading large short squeezes. Noone's ever seen this magnitude and raw number of them.  Which is another indication somethings really getting whacky. Also, by Feb the big cap earnings reports will be done with...leaving the smaller end of the market remaining to roll out to probably disappointing results as that's where the covid recession is happening. Coupled with Buyer exhaustion and possible Fed jawboning...could be catalysts for a correction.  Sideways correction would be good but conditions are too extreme for that so i suspect a fast violent move is more likely.  Followed by more stimulus and Fed action to pump markets back up again.  That's my thinking anyway.

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@BuffaloWeather  (and anyone else) here's An interesting youtube video on Bitcoin if you have 30 minutes to kill, from somebody who i have followed for years. Raoul Pal veered off the conventional high finance world for the most part and is now concentrating on Bitcoin.  He got me interested in getting into Etherium and Bitcoin last year.  It's an interesting perspective on the future of finance and money...recorded last October so relatively recent. Very easy listen, more a macro case for BTC.

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10 hours ago, Syrmax said:

@BuffaloWeather  (and anyone else) here's An interesting youtube video on Bitcoin if you have 30 minutes to kill, from somebody who i have followed for years. Raoul Pal veered off the conventional high finance world for the most part and is now concentrating on Bitcoin.  He got me interested in getting into Etherium and Bitcoin last year.  It's an interesting perspective on the future of finance and money...recorded last October so relatively recent. Very easy listen, more a macro case for BTC.

Gamestop and now AMC. A new world we're living in. 

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55 minutes ago, BuffaloWeather said:

Gamestop and now AMC. A new world we're living in. 

Looked like all hell was breaking loose at the open today. Most trading platforms were experiencing severe problems early. Now I've battled back green and buying MOAR! Staying away from GME and AMC. Many other easy targets of opportunity.

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1 hour ago, Syrmax said:

Looked like all hell was breaking loose at the open today. Most trading platforms were experiencing severe problems early. Now I've battled back green and buying MOAR! Staying away from GME and AMC. Many other easy targets of opportunity.

can't stop wont stop. :lol:

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54 minutes ago, BuffaloWeather said:

vanguard trading is down and brokers are stopping people from buying GME?!?! The interview just now on CNBC was pure gold go watch now if you haven't. 

Just watched Chamath filet the idiot Wapner live on CNBC.  This guy is spot on.  CNBS is just a sell side bucket shop. God forbid retail small guys use a momentum strategy to blow up hedge funds taking massive short positions.  It's ok for instirutions to lever up and get 140% short on a stock but not ok when WSB retail ram it up their azz.

And Wapner...so 'concerned' that people will get hurt in the trade.  I half expected him to beg them to wear masks next.  Fake condescending BS.

What are you gonna do? Spreadsheet it?? LMAO

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28 minutes ago, Syrmax said:

Just watched Chamath filet the idiot Wapner live on CNBC.  This guy is spot on.  CNBS is just a sell side bucket shop. God forbid retail small guys use a momentum strategy to blow up hedge funds taking massive short positions.  It's ok for instirutions to lever up and get 140% short on a stock but not ok when WSB retail ram it up their azz.

And Wapner...so 'concerned' that people will get hurt in the trade.  I half expected him to beg them to wear masks next.  Fake condescending BS.

What are you gonna do? Spreadsheet it?? LMAO

Who is that guy?  Nice mouth on him. 

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1 hour ago, Syrmax said:

Just watched Chamath filet the idiot Wapner live on CNBC.  This guy is spot on.  CNBS is just a sell side bucket shop. God forbid retail small guys use a momentum strategy to blow up hedge funds taking massive short positions.  It's ok for instirutions to lever up and get 140% short on a stock but not ok when WSB retail ram it up their azz.

And Wapner...so 'concerned' that people will get hurt in the trade.  I half expected him to beg them to wear masks next.  Fake condescending BS.

What are you gonna do? Spreadsheet it?? LMAO

Don’t you think that you’re creating a bubble. There’s no way the fundamentals of GameStop can support the price it’s at. At some point the party will be over and it could get ugly in a hurry. We are probably near the top of this market. Other than a few small stock positions the extent of my market involvement is in a 454b plan that has done quite well over the past 5 years. 

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4 minutes ago, BuffaloWeather said:

Just bought $1500 in AMC, Nokia, Blackberry. RIDE THE WAVE. 

Only thing working is short squeezes for a day trade. 

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28 minutes ago, CNY_WX said:

Don’t you think that you’re creating a bubble. There’s no way the fundamentals of GameStop can support the price it’s at. At some point the party will be over and it could get ugly in a hurry. We are probably near the top of this market. Other than a few small stock positions the extent of my market involvement is in a 454b plan that has done quite well over the past 5 years. 

A temporary bubble in that stock...sure.  The bigger bubble to be concerned about is due to Congress spending and Fed policy.  CNBC and pols don't want to talk about that. If markets were a true reflection of the economy everyone's 401k's would be 201k's.. again.

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