DoctorEncore | 3,691 Posted January 27, 2021 Share Posted January 27, 2021 (edited) The stock market has always been propped up by the speculative action of hedge funds and other billionaires, but I never thought Reddit would completely blow it up. This is amazing. There is a 100% chance new regulations will be coming this year. Edited January 27, 2021 by DoctorEncore Link to comment Share on other sites More sharing options...
jonebone | 1,307 Posted January 27, 2021 Share Posted January 27, 2021 7 minutes ago, arch_8ngel said: Yeah, had another small slug fill at $18. Had to move my market-hours limits up so they don't fill immediately at open. How high are you expecting AMC to run? Because current prices are way beyond "hopeful recovery story"... I have no idea. I'm going to read the chart and watch what it tells me as it develops. It has nothing to do with how high it "should run" (see GME), it has to do with how many people pile in and how the tug of war battle looks. It also will likely be strongly connected with GME. If GME is tapering off (whenever that happens), people will pile into next best thing and it's AMC. 1 Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted January 27, 2021 Share Posted January 27, 2021 Just now, jonebone said: I have no idea. I'm going to read the chart and watch what it tells me as it develops. It has nothing to do with how high it "should run" (see GME), it has to do with how many people pile in and how the tug of war battle looks. It also will likely be strongly connected with GME. If GME is tapering off (whenever that happens), people will pile into next best thing and it's AMC. I mean more along the lines of -- considering the mania do YOU have an exit in mind? Link to comment Share on other sites More sharing options...
jonebone | 1,307 Posted January 27, 2021 Share Posted January 27, 2021 3 minutes ago, arch_8ngel said: I mean more along the lines of -- considering the mania do YOU have an exit in mind? Nope. Read and react. The volume coming in tells me the run is just getting started. Typically after a gap up to this extent you get a pullback sometime after open as people freak out that it isn't real. I may target a reentry there. You may even have a few days of settling (see GME around $40) before a move one way or another. Which is why those March 19 calls were good. Either way the volume is going to send it swinging huge one way or the other and sub $10 just will never happen again, practically speaking. Not talking the "forever" horizon but obviously I'm just playing this one on the volume and likely will be no more than a couple weeks. Link to comment Share on other sites More sharing options...
Kguillemette | 1,545 Posted January 27, 2021 Share Posted January 27, 2021 Man, times like these I wish I had more experience. I only started last year doing silly things like researching fundamentals and trying to decide if I like concepts of companies and picks as a long play. Apparently this is where it's at now! Wtf! 1 Link to comment Share on other sites More sharing options...
jonebone | 1,307 Posted January 27, 2021 Share Posted January 27, 2021 2 minutes ago, Kguillemette said: Man, times like these I wish I had more experience. I only started last year doing silly things like researching fundamentals and trying to decide if I like concepts of companies and picks as a long play. Apparently this is where it's at now! Wtf! Here's the analogy. Mario is $10, and typical volume is 100 sales a day. Then let's say volume comes in swarms and there are 10,000 people who want it. Mario feels like it should be $10 but due to the volume is is now $100 over night. Pick the prices you want but that is the analogy here. The volume coming into AMC, coupled with legitimate news of the capital injection and this is a much better play that a typical pump. Link to comment Share on other sites More sharing options...
BreaKBeatZ | 136 Posted January 27, 2021 Share Posted January 27, 2021 19 minutes ago, jonebone said: I have no idea. I'm going to read the chart and watch what it tells me as it develops. It has nothing to do with how high it "should run" (see GME), it has to do with how many people pile in and how the tug of war battle looks. It also will likely be strongly connected with GME. If GME is tapering off (whenever that happens), people will pile into next best thing and it's AMC. Thanks Jone!!!!! Link to comment Share on other sites More sharing options...
a3quit4s | 4,103 Posted January 27, 2021 Share Posted January 27, 2021 (edited) In on AMC - 60 shares at $16.80 let the fun begin lol edit: purchased pre market before I read the above lol Edited January 27, 2021 by a3quit4s Link to comment Share on other sites More sharing options...
RH | 4,920 Posted January 27, 2021 Share Posted January 27, 2021 I'm trying to get in on AMC. I have a "safe" quantity purchase at market price but it's not getting filled. Has trading halted on that one? I also have a lower buy up so if it has a down-swing today, I can get about 4x more than I'm willing to buy "at market". This is all definitely sophisticated gambling. The tools to trade like this can be far more sophisticated than crypto but, man, this reminds me of the days of reading hype-markets on Poloniex back when we US citizens could still trade on it. Link to comment Share on other sites More sharing options...
Californication | 1,477 Posted January 27, 2021 Share Posted January 27, 2021 Gme first big dip and halt. Link to comment Share on other sites More sharing options...
ThePhleo | 2,185 Posted January 27, 2021 Share Posted January 27, 2021 I’d like to dip my toes in the water. It seems like it’s our generations turn to become the market holders and I don’t want to be left behind. Can anyone share a crash course? I’d like to play around with a couple thousand and see if I can learn. Meme stocks aside, once the current hedge fund managers learn how to work around the memers I think things should logically go back to normalcy, no? 1 Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted January 27, 2021 Share Posted January 27, 2021 33 minutes ago, jonebone said: Nope. Read and react. The volume coming in tells me the run is just getting started. Typically after a gap up to this extent you get a pullback sometime after open as people freak out that it isn't real. I may target a reentry there. You may even have a few days of settling (see GME around $40) before a move one way or another. Which is why those March 19 calls were good. Either way the volume is going to send it swinging huge one way or the other and sub $10 just will never happen again, practically speaking. Not talking the "forever" horizon but obviously I'm just playing this one on the volume and likely will be no more than a couple weeks. Well, now I'm pondering buying back in at 11 BTW -- can you keep us up to date on how your options are reacting to the daily price? Would be educational, I think. Link to comment Share on other sites More sharing options...
jonebone | 1,307 Posted January 27, 2021 Share Posted January 27, 2021 (edited) 6 minutes ago, arch_8ngel said: Well, now I'm pondering buying back in at 11 BTW -- can you keep us up to date on how your options are reacting to the daily price? Would be educational, I think. I wish I could but Fidelity doesn't seem to be showing me that. System is lagged or overwhelmed. Shows the value of my shares but the options haven't updated. Edit: It show is showing up as +$2k profit on the $600 investment when the share price was $15. Edited January 27, 2021 by jonebone Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted January 27, 2021 Share Posted January 27, 2021 12 minutes ago, jonebone said: I wish I could but Fidelity doesn't seem to be showing me that. System is lagged or overwhelmed. Shows the value of my shares but the options haven't updated. Edit: It show is showing up as +$2k profit on the $600 investment when the share price was $15. Thanks. I'm interested in the concept of options, but definitely don't mind seeing a more practical example of how the options price moves relative to the underlying. Link to comment Share on other sites More sharing options...
Gloves | 11,794 Administrator · Posted January 27, 2021 Share Posted January 27, 2021 32 minutes ago, ThePhleo said: I’d like to dip my toes in the water. It seems like it’s our generations turn to become the market holders and I don’t want to be left behind. Can anyone share a crash course? I’d like to play around with a couple thousand and see if I can learn. Meme stocks aside, once the current hedge fund managers learn how to work around the memers I think things should logically go back to normalcy, no? I too would be interested in this. I could use Wealthsimple trade, but no clue how to make any use of it. I also have "chuck it just in case" money, and would have happily tossed a grand at GME like a week ago just to see what happens, had I any clue how any of this worked. TBH same thing with like Bitcoin; I feel like a bit of a fool on the sidelines sometimes, and the only thing that keeps me sane is reminding myself that this is essentially gambling. At the least I'd like to be a bit more educated in general. Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted January 27, 2021 Share Posted January 27, 2021 (edited) 1 minute ago, Gloves said: I too would be interested in this. I could use Wealthsimple trade, but no clue how to make any use of it. I also have "chuck it just in case" money, and would have happily tossed a grand at GME like a week ago just to see what happens, had I any clue how any of this worked. TBH same thing with like Bitcoin; I feel like a bit of a fool on the sidelines sometimes, and the only thing that keeps me sane is reminding myself that this is essentially gambling. You're going to get better and more reliable functionality from a real broker. But if you're hopping in and out of stuff, that likely means you'll need at least $25k in the account to avoid patter day trader considerations. You can have the vast majority of that in more traditional investments or cash -- no need to gamble all of it. But it has to be there, for if you get tagged as a day trader. I've seen a lot of horror stories about crappy trade execution from the app-based brokerages, but I have never had a problem with Schwab. EDIT: also, some brokerages will restrict how high you limit sell orders can be relative to the last close. if there is a ceiling with Schwab, I haven't found it yet. Edited January 27, 2021 by arch_8ngel Link to comment Share on other sites More sharing options...
Gloves | 11,794 Administrator · Posted January 27, 2021 Share Posted January 27, 2021 14 minutes ago, arch_8ngel said: You're going to get better and more reliable functionality from a real broker. But if you're hopping in and out of stuff, that likely means you'll need at least $25k in the account to avoid patter day trader considerations. You can have the vast majority of that in more traditional investments or cash -- no need to gamble all of it. But it has to be there, for if you get tagged as a day trader. I've seen a lot of horror stories about crappy trade execution from the app-based brokerages, but I have never had a problem with Schwab. EDIT: also, some brokerages will restrict how high you limit sell orders can be relative to the last close. if there is a ceiling with Schwab, I haven't found it yet. Yeah, see, that's all gooble-dee-gook. Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted January 27, 2021 Share Posted January 27, 2021 6 minutes ago, Gloves said: Yeah, see, that's all gooble-dee-gook. I'll try again If you can afford to keep $25k in the account -- then get a real brokerage because it will all work better and the tools are better. Link to comment Share on other sites More sharing options...
Gloves | 11,794 Administrator · Posted January 27, 2021 Share Posted January 27, 2021 1 minute ago, arch_8ngel said: I'll try again If you can afford to keep $25k in the account -- then get a real brokerage because it will all work better and the tools are better. I can handle that. What's a brokerage? Like Fidelity? You're saying not to use Wealthsimple? I say Wealthsimple cuz my money is already there and they have this "Trade" app which LOOKS like it'd be the thing I need, and I can use my money from my existing accounts without having to transfer etc. etc.. You'd say it'd be worthwhile to move $25k to another app for this? Link to comment Share on other sites More sharing options...
BreaKBeatZ | 136 Posted January 27, 2021 Share Posted January 27, 2021 1 hour ago, jonebone said: I have no idea. I'm going to read the chart and watch what it tells me as it develops. It has nothing to do with how high it "should run" (see GME), it has to do with how many people pile in and how the tug of war battle looks. It also will likely be strongly connected with GME. If GME is tapering off (whenever that happens), people will pile into next best thing and it's AMC. Thanks again! Sold half of my position in only 2 days at +260% Link to comment Share on other sites More sharing options...
ThePhleo | 2,185 Posted January 27, 2021 Share Posted January 27, 2021 Just now, BreaKBeatZ said: Thanks again! Sold half of my position in only 2 days at +260% I literally cannot buy AMC stock. Im playing with a couple hundred in Robinhood and it let me buy every stock I want except AMC. Link to comment Share on other sites More sharing options...
jonebone | 1,307 Posted January 27, 2021 Share Posted January 27, 2021 2 minutes ago, BreaKBeatZ said: Thanks again! Sold half of my position in only 2 days at +260% Sure no prob, I bought another 125 shares around $16. Basically doing some dollar cost averaging here. I don't know exactly how this thing is going so I never want to go "all-in" at any price. If I get buying opportunities I'll keep adding but if the train has left the station then I at least keep riding. 1 Link to comment Share on other sites More sharing options...
doner24 | 1,197 Moderator · Posted January 27, 2021 Share Posted January 27, 2021 This has been a fun week Link to comment Share on other sites More sharing options...
BreaKBeatZ | 136 Posted January 27, 2021 Share Posted January 27, 2021 2 minutes ago, ThePhleo said: I literally cannot buy AMC stock. Im playing with a couple hundred in Robinhood and it let me buy every stock I want except AMC. It's possible t hat there was a trading halt due to today's activity. Link to comment Share on other sites More sharing options...
Californication | 1,477 Posted January 27, 2021 Share Posted January 27, 2021 Damnit. I tried to buy back gme at 165 and Charles Schwab stopped working for 40 minutes. Unreal. Link to comment Share on other sites More sharing options...
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