Gamestonks!

Striker1423 · January 30, 2021, 01:07:45 PM

Anybody hedging there bets on a big old bubble of GME Hedgefund goodness? Or is it just me? Holding my own at 5 shares.

Not looking for drama, just asking if anyone is playing the game. I couldn't resist a shot at some extra tendies.

sav0r (CL MotoTech) · January 30, 2021, 02:50:37 PM

I considered it, but I spent my money on other stuff. It's been a real blast to watch.

pidjones · January 30, 2021, 05:32:40 PM

No, I invest for the long-term. Has served me well.

Striker1423 · January 31, 2021, 12:36:18 PM

My 401k and IRAs take care of the long term for me. This is just a good old time and me participating in history. Here's hoping we don't crash the market.

m in sc · January 31, 2021, 01:08:29 PM

situations like this as it will expose the flaws in the system and how changes get made for the better. Long overdue i think.

Organicjedi · January 31, 2021, 02:29:00 PM

Quote from: m in sc on January 31, 2021, 01:08:29 PM
situations like this as it will expose the flaws in the system and how changes get made for the better. Long overdue i think.

Agreed, with emphasis on the greed part.

I'm not in it but recently started watching. It's fascinating. Now that it's in a bit of a dip because of the broker "intervention", I'm tempted to get a few shares just to be part of history. But, at the end of the day cooler heads prevail and it's best to stay pragmatic about investments.

sav0r (CL MotoTech) · January 31, 2021, 03:28:32 PM

It seems like there's a strong possibility of naked shorts, basically the selling of shares that haven't been confirmed to exist. This was made illegal after the 08 crash.

So, there's a good chance of more consequence than just watching a bunch of smooth brained dweebs take some money from the rich.

1976RD400C · January 31, 2021, 04:54:47 PM

Are you guys day trading. Buying and then selling a few minutes later on the upswings? I would be real careful holding it for very long because it was a $19 stock not long ago. You do realize it went from $468 to $153 in 15 minutes the other day.

sav0r (CL MotoTech) · January 31, 2021, 05:04:51 PM

The majority are holding until the short squeeze. The squeeze should drive the price up rapidly, at which point the retailers will start selling.

Google this, you are going to find a lot to read.

sav0r (CL MotoTech) · January 31, 2021, 05:09:13 PM

The other interesting thing that happened is that several companies had to borrow money to buy their shorted GME shares back. So because the price rose so quickly, the got absolutely owned. A lot of the retail buyers purchased and basically said, I'll lose my money to watch Wall Street suffer. The last I saw, retail buyers bought up 100M shares out of the roughly 700m in circulation. The dude who explained to the internet how to outsmart this GME short was gaining like $20m daily just on his GME shares. He posted proof on the web and the web took it from there.

Striker1423 · February 01, 2021, 04:46:00 PM

Quote from: sav0r on January 31, 2021, 05:09:13 PM
The other interesting thing that happened is that several companies had to borrow money to buy their shorted GME shares back. So because the price rose so quickly, the got absolutely owned. A lot of the retail buyers purchased and basically said, I'll lose my money to watch Wall Street suffer. The last I saw, retail buyers bought up 100M shares out of the roughly 700m in circulation. The dude who explained to the internet how to outsmart this GME short was gaining like $20m daily just on his GME shares. He posted proof on the web and the web took it from there.

Also, to add in to the Retail investors Diamond hands...

The restrictions placed on Robinhood (illegal to be clear) and the over 500,000 new sign-ups to Fidelity over the last 48 hours will mean another rapid influx of anywhere from 1 to 1,000+ share buyers when the funds are made available in these accounts and trading resumes. Contrary to popular belief, the "news" organizations are lying through their teeth to try and make us sell the shares we're holding. Remember Jim Cramer from Mad Money fame? Bahahaha, he was a hedgefund manager who broke as many laws as he followed in that business. Yet, 95% of us know, it's only a matter of time before the squeeze is squoze.

sav0r (CL MotoTech) · February 01, 2021, 04:55:13 PM

The SLV push is such nonsense man. Great for those that bought it, but nobody that got into GME bought SLV.

1976RD400C · February 01, 2021, 06:15:00 PM

I sold my SLV today. Held it for a year, up 65%

IR8D8R · February 01, 2021, 08:45:14 PM

I've still got 25 lbs of junk coin silver. I probably won't sell it. It has been a useful material over the years for all kinds of stuff. Silver bullets, electrical contacts. jewelry making, etc.

Every time I invest in real value I sell it if I need money and always regret it. I sold 10-1 oz Krugerrands when gold was "only" ~$500. Thought I was smart because I doubled my money. Easy come easy go. A friend of mine had 10,000 oz of silver. He died before he could cash it out.

IR8D8R

sav0r (CL MotoTech) · February 01, 2021, 08:54:24 PM

Silver bullets?

Is there something you aren't telling us?

News:

Gamestonks!