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Market in the toilet who’s buying?

Broccoli Iglesias

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I meant to post this last night but forgot.

I read some posts, either in this thread or the other stock market thread, about some people saying they know someone thst had options and mayde made on GME ...

I am not trying to be that guy that wants to piss on their success with the trade. But, be a good friend and remind them they will have to pay short term tax on that. So be careful what they do with the money or they can be in trouble next year.
 

Night_solstice

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For laughs, I bought 7 of each (at this mornings prices, should done so last night) since that's all I had in the 'take a chance' bucket in the account. I figure I make a few hundred I'm happy.
You go short. That has been working great lately.
go short, go long, options, I'm still purchasing the shares and happy if I get out before it shows I'm down 50%. :D
 

Night_solstice

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My financial news sources:

1: NES
2: r/wallstreetbets
the 1st is easier to follow, and more accurate than most. Most of them seem to be the corporates version of what WSB is doing. They all agree on 3 stocks they own, and all send out a "Here's an article telling you the top 3 stocks you should invest in, and wrap it up with if you took our advice to buy Apple when it was $1, how much you'd have make, so you know we're right"
 

Choctaw

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Reddit co-founder Alexis Ohanian compares GameStop's epic ride to Occupy Wall Street: 'I don't think we go back to a world before this'

"It's a chance for Joe and Jane America -- the retail buyers of stock -- to flex back and push back on these hedge funds,"

"I don't think we go back to a world before this because I think these communities [are] a byproduct of the connected internet," he added. "Whether it's one platform or another, this is the new normal."

What has happened in the markets in recent sectors Ohanian compared to the disruption seen in other sectors, including media, caused by the rise of social media, calling it a "bottom-up revolution."

"We've seen this across media, we've seen this across so many sectors, and now it's happening to finance,"

So, what do you guys think will be the next step? This guys thinks the genie is out of the bottle but I wouldn't put it past big tech, media, and wall street to collude against the peons. They can just lean on providers like Robinhood to conform or they will get de-platformed.
 

Broccoli Iglesias

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Reddit co-founder Alexis Ohanian compares GameStop's epic ride to Occupy Wall Street: 'I don't think we go back to a world before this'

"It's a chance for Joe and Jane America -- the retail buyers of stock -- to flex back and push back on these hedge funds,"

"I don't think we go back to a world before this because I think these communities [are] a byproduct of the connected internet," he added. "Whether it's one platform or another, this is the new normal."

What has happened in the markets in recent sectors Ohanian compared to the disruption seen in other sectors, including media, caused by the rise of social media, calling it a "bottom-up revolution."

"We've seen this across media, we've seen this across so many sectors, and now it's happening to finance,"

So, what do you guys think will be the next step? This guys thinks the genie is out of the bottle but I wouldn't put it past big tech, media, and wall street to collude against the peons. They can just lean on providers like Robinhood to conform or they will get de-platformed.
This is nothing like occupy wallstreet. Occupy WS was a bunch of bums sleeping outside feeling entitled to whatever they wanted without working for it.

This is people seeing data online and acting on it. Playing the same game HF play every single day and no one complains.

Melvin Capital had amazing returns. This story has been played before. There have been plenty of Fund Managers with amazing returns that eventually completely fail or know when to retire while still on top.

Melvin ended with complete failure ... for now. Because there is a chance they could recuperate.
 
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I'd be pretty pissed if my stock broker decided one day it was going to be my financial advisor.

"“The current pandemic has created a unique situation where many people have gotten into day trading and really have no idea exactly what they’re doing,” Galvin said. “It’s something that they’re trying to figure their way as they go. These types of entities, such as GameStop, have created a really difficult situation for these people. They think they’re missing out if they don’t make a bet on them. They don’t really understand what they’re doing. I think small-time investors like that, unsophisticated investors, are going to be hurt.”"


Like Bill Galvin? He's just looking out for vulnerable people, guys. Casinos are fine though.
 
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