The Official M6G Investment thread

[shogun32]

what no GME or AMC trading strategies? Just remember kids, when the big boys lose money, they just change the rules or close the casino and kick you out with a $5 coupon off the shrimp buffet. In case nobody noticed pretty much all the brokers had connectivity issues this morning and some have taken action to prevent clients from buying certain symbols.

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[machsmith]

what no GME or AMC trading strategies? Just remember kids, when the big boys lose money, they just change the rules or close the casino and kick you out with a $5 coupon off the shrimp buffet. In case nobody noticed pretty much all the brokers had connectivity issues this morning and some have taken action to prevent clients from buying certain symbols.

GME was an easy money maker.
Buy in and raise stops with large spread as you go. They reaped havoc on many short accounts, but someone will be holding large bags.
What was the analyst price target ? 10 bucks? LOL

 

[Bull Run]

Yeah, what could go wrong here?
https://www.zerohedge.com/markets/stocks-line-sand-defended-again-bonds-bullion-bitcoin-battered

The Bitcoin drop was due to Janet Yellen comments and unconfirmed double spending issue so can't really lump it with stocks or bonds.

This author seems like the type that consistently say "the stocks will crash/sky's falling" repeatedly just to cover the fact that he's unable to time the market. He'll probably say "I told you so" when the crash eventually happens someday while ignoring all those times that he was wrong. Otherwise, he'd be a multi-billionaire now from accurately timing the market.

I went on to read few other articles on zerohedge and this site seems to be politically skewed. I recommend taking the politics and emotions out of investing for the long haul has I would be in a bad shape now if I invested only when my favorite candidates/party are in the office.

what no GME or AMC trading strategies? Just remember kids, when the big boys lose money, they just change the rules or close the casino and kick you out with a $5 coupon off the shrimp buffet. In case nobody noticed pretty much all the brokers had connectivity issues this morning and some have taken action to prevent clients from buying certain symbols.

I actually cheered the shorts getting crushed last few days, since they attempt to artificially devalue companies for personal gains, rather than letting those companies die or recover naturally. I guess they didn't learn from TELSA shorts. While I don't own GME or AMC, I have three stocks that benefited from the recent short squeeze (BGS, IRM, and LUMN) in a lesser degree.

I ended up selling almost half of my position in BGS to rebalance my non-retirement portfolio as it was already overweight to start with and its value almost tripling threw the balance really out of whack. It's funny to think that something I bought for speculative high-dividend yield bucket for high income (I believe its yield was close to 12% back then) ended up beating the S&P 500 index returns by a huge amount in capital gains. Fortunately, I held the stock long enough for all the capital gains from today's sale to be classified as long term.

I had some issues logging into the brokerage this morning but I'm attributing that to many others trying to log in at the same time to trade. Something similar happens for other sites anyways (e.g. trying to purchase tickets to World Series).

As for the halting of trades for certain stocks, market circuit breakers existed for decades and they work for both large sudden drops and increases. So if halting of trading of certain stocks fall within percentages list below, it's predetermined, not part of some conspiracy.

Key Parameters of the Circuit Breaker System
Acceptable up-or-down trading range (9:45 am-3:35 pm)	Acceptable up-or-down trading range (9:30-9:45 am and 3:35-4:00 pm)	Security price, listing
5%	10%	Tier 1 National Market System (NMS) securities: S&P 500- and Russell 1000- listed stocks, some exchange-traded products; price greater than $3.00 (price > $3.00)
10%	20%	Tier 2 NMS securities: other stocks priced over $3.00 (p > $3.00)
20%	40%	Other stocks priced greater than or equal to $0.75 and less than $3.00 ( $0.75 ≤ p ≤ $3.00)
Lesser of 75% or $0.15	Lesser of 150% (upper limit only) or $0.30	Other stocks priced less than $0.75 (p < $0.75)

 

[shogun32]

As for the halting of trades for certain stocks, market circuit breakers existed for decades

ahh, but it isn't breakers, this is unilateral action by the broker to REFUSE buy trades.

I actually cheered the shorts getting crushed last few days, since they attempt to artificially devalue companies

Shorts are a perfectly healthy and *required* function of a market. I am cheering on the Reddit'ards and hope they blow several hedge funds into oblivion. Naked shorting is supposed to be impossible, but as we've seen, the big boys flout the rules when it suits them.

 

[Bull Run]

ahh, but it isn't breakers, this is unilateral action by the broker to REFUSE buy trades.

Seems like more beaker triggers today to me like the other days, although I didn't even try to buy GME or AMC since they don't fit into my investing style. Which brokers refused trades outside of breakers?

Reddit-Fueled Traders Trigger Volatility Halts Across Market

 

[shogun32]

Which brokers refused trades outside of breakers?

TD Ameritrade for one.
https://www.marketwatch.com/story/g...ed-at-td-ameritrade-11611769804?mod=home-page

 

[jtmat]

TD Ameritrade for one.

There are market and stock circuit breakers.

I went on to read few other articles on zerohedge and this site seems to be politically skewed. I recommend taking the politics and emotions out of investing for the long haul has I would be in a bad shape now if I invested only when my favorite candidates/party are in the office.

I've asked him nicely, but indirectly, to stop posting that alt-right crap.

Most of his posts have a political slant.

 

[shogun32]

I've asked him nicely, but indirectly, to stop posting that alt-right crap

it's a news aggregator site. If you want to read political bias into the postings that's your problem and your beef with the authors of the various articles. Do let me know when CNBC is politically neutral...

In the meantime, S&P Price to Sales ratio chart is as apolitical as it gets. You want to argue the article, argue the article/numbers. Like the Terminator, they won't stop.

 

[Jimmy Dean]

I didn't get into the GME game early enough, and I sold out of BB a bit too soon. still have some in it but nothing major, granted my robinhood acct is nothing major, put 500 into it last year on Ford stock, took it out monday with 1100 bucks, and looking to hit about 1500 today. But I can't do any more day trades for a few days, got slapped with a PDT warning this morning. May move some poorly performing stocks tomorrow over to BB.

 

[Cobra Jet]

What Broker sites or apps is everyone using lately for their trades or holding tank for their portfolio?

 

[shogun32]

What Broker sites or apps is everyone using lately for their trades or holding tank for their portfolio?

I use eTrade, it's suspect uptime notwithstanding. My trades are all done on a trigger - limit or stop-limit so webUI access problems or 'finger on the button' issues are not important.

I briefly used Fidelity but they are crooks and incompetent- their world-class telephone support notwithstanding. They don't close positions correctly, pick and choose offsetting positions that suit their (STUPID!!!) back-office algorithm instead of keeping track of which trades were booked as a pair to begin with. They also don't bother to exercise an existing sell/buy pair and hit you with a margin call unless you PHONE them to say, hey, use the bloody 'buy' that was part of the pair. Their phone staff is native english speakers in CONUS. Their programmers are the dregs of Indian/H1B, apparently.

 

[Jimmy Dean]

What Broker sites or apps is everyone using lately for their trades or holding tank for their portfolio?

Robinhood, but I'll be switching.

Robinhood blocked buying of shares into GME/BB/AMC/NOK and others this morning. They are showing their hand, and that their primary interest is in protecting the big hedge funds.

 

[Cobra Jet]

How many are still holding GME?

 

[machsmith]

How many are still holding GME?

anyone hear of the fella that accumulated $50M and said he was gonna keep holding ? can you believe that? LOL SELL!!!
easy come, easy go i guess.

 

[Jimmy Dean]

How many are still holding GME?

I am still holding my 1 share. considered buying another 40 a few minutes ago, but opted not to.

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