I hope I don’t have to reply “I told you so” when that garbage tanks
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- Thread starter broke'n'nuts
- Start date
I hope I don’t have to reply “I told you so” when that garbage tanks
ABMax24
Active VIP Member
I don't know anymore. As some institutions exit their short positions others are taking new short positions.
This isn't about gains/loses. This is literally millions of small time investors sticking up their middle finger to the multi-billion dollar institutions and hedge funds and beating them at their own game. The goal isn't to make themselves money, it's to bankrupt the giants that manipulate the system for their own profit.
The fastest way to stop this cycle is brokers refusing to trade the stock, which TD Ameritrade just announced it is doing on some trades for GME and AMC.
Let’s not forget the sell-off could happen after hours on NYSE and if your institutional account isn’t set up for after hours trading like most Canadian accounts, by next morning you could be broke!!
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- Moderator
- #344
Bogger
Bogger of the GBCA
I'm not putting anything into either GME or AMC but if I were to consider it AMC would be my pick...... GME is currently sitting around $350USD and if someone wanted a "quick double" the likelihood of it hitting $700 VS the likelihood of AMC hitting $36 most would bet on AMC and there are a lot of new investors piggybacking onto the "stick-it-to-the-man" crowd looking to make a quick buck on hype...
If I was a betting man I'd say the ceiling (%-gain) is in AMC's favor now - buying 56 AMC shares for $1000 and buying 3 GME shares for $1000 is the same $1000 but I believe most newbies will grab the 56 AMC.
Hell Blackberry has been mentioned in this turmoil as well and they are up 30% today and 600% this month - At least they have business continuity and a realistic chance at resurrection - Gamestop is the Blockbuster of videogames with no real future.
If I was a betting man I'd say the ceiling (%-gain) is in AMC's favor now - buying 56 AMC shares for $1000 and buying 3 GME shares for $1000 is the same $1000 but I believe most newbies will grab the 56 AMC.
Hell Blackberry has been mentioned in this turmoil as well and they are up 30% today and 600% this month - At least they have business continuity and a realistic chance at resurrection - Gamestop is the Blockbuster of videogames with no real future.
jhurkot
Active VIP Member
I tried to market buy some AMC at $12 and TDwebbroker decided to buy it half an hour later at $16.
- Moderator
- #346
Bogger
Bogger of the GBCA
On the bright side your up 25%.....
Conversely-after hours AMC is down but all over the map.... orders going thru anywhere from $15-$19
Anything could happen tomorrow! Hopefully rocket ship to the moon for my S&M buddies!
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Not sure if all online platforms do this but my brokerage posted a delayed warning on volatility and high volume with market trades today. They suggest to use Limits.
jhurkot
Active VIP Member
Imagine thinking you could lose money buying a stock that's up over 300% on the day.
- Moderator
- #350
Bogger
Bogger of the GBCA
Chatter is that Kodak (KODK) might be tomorrows hit... HEAVILY shorted and was up 28% today and another 11% in after ours....
Might be one to take a small gamble on tomorrow, it actually has some decent fundamentals and is no more expensive now than it was on December 7th
Might be one to take a small gamble on tomorrow, it actually has some decent fundamentals and is no more expensive now than it was on December 7th
jhurkot
Active VIP Member
I bought 10,000 at 0.36 when u first brought that to my attention. Thank you!
S.W.A.T.
Active VIP Member
Waiting for my commission cheque in the mail.
Pay attention to AAV as well, anything under $2 is a good buy
JustChilling19
Active VIP Member
Cannot wait for tomorrow!!
Some friends and I have been talking about this a few times a week, something to do. Essentially making bets on this garbage. Got in to AMC and NAKD before noon today. Already up 50%+. Hold on!!
AMC has til Friday to buy out their positions. Going to the moon (I hope)!
Im a big supporter of the fundamentals of investing but apparently the market says otherwise. Great opportunity short term to get in and out. Just remember... make it house money as soon as possible.
I’ll be making my long term investments when this bubble collapses. Lots of options trades going on, similar to the dot com bubble. Except it’s calls not puts!
Some friends and I have been talking about this a few times a week, something to do. Essentially making bets on this garbage. Got in to AMC and NAKD before noon today. Already up 50%+. Hold on!!
AMC has til Friday to buy out their positions. Going to the moon (I hope)!
Im a big supporter of the fundamentals of investing but apparently the market says otherwise. Great opportunity short term to get in and out. Just remember... make it house money as soon as possible.
I’ll be making my long term investments when this bubble collapses. Lots of options trades going on, similar to the dot com bubble. Except it’s calls not puts!
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S.W.A.T.
Active VIP Member
Ya this bubble has to pop at some point. Companies that were doing well pre pandemic should continue to prosper in the future, unless directly impacted by restrictions. Companies that didn't exist before but that are now 200+% earnings will fall just as fast as they climbed.
jhurkot
Active VIP Member
TD web broker is pretty slow this morning. How am I supposed to buy more $GME??
- Moderator
- #360
Bogger
Bogger of the GBCA
Guess I was wrong again.....lol Gamestop up 38% in the first 30 min of trading flirting with $500 and AMC has not recovered yet from the overnight drop.
I did buy a small position in KODK - not even for the hype, if it does jump and I can swing a profit then great, if not the more I read about what they are doing the more I figure it may be a good long term hold.
I did buy a small position in KODK - not even for the hype, if it does jump and I can swing a profit then great, if not the more I read about what they are doing the more I figure it may be a good long term hold.
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