Stock trading for a rookie

IrishCannon said:
This is the big point...it's less about making profit and more about crushing Wall St into the dirt for being a POS for manipulating our lives via GovCo.

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How much are you willing to pay to accomplish that?
 
SploogeBob-StickyPants said:
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I just don’t trust Shapiro, There is a handful of these supposedly conservative hosts that are a little too, vote again harder for me. Or maybe they just don’t freaking get it. Because they are flying private jets and living large as the controlled opposition.
 
DCGallim said:
Apparently an app called Public is what a lot of people are going to instead of Robinhood.
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I just set my account up. I'm ChickeHawk on there now. You can import your trading profile over from Robin Hood.
 
Jeppo said:
How much are you willing to pay to accomplish that?
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Considering most people got into the stock at a very affordable amount it isn't breaking their banks.
 
ChickenHawk said:
Considering most people got into the stock at a very affordable amount it isn't breaking their banks.
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I’m not sure about that.

Today, nearly the entire public float changed hands (50 million shares). That means there were buyers paying anywhere between $250 and $414 per. If those buyers were “shorts” covering their bets, so be it. If the group included the Reddit crowd arriving late to the party, I expect they’re gonna be in for a rough ride.
 
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My son made over two grand in his little AMC. Dumped it this last night or this morning. Not sure of the app.
 
I sold half of my GME shares earlier today right after it peaked at 360/share. I’ve started moving the majority of my portfolio over to Fidelity since Robinhood is pretty much a failure now.
I got lucky. Stocks is like educated gambling.
 
@concepthomes2 sometime you get lucky. I had a boss that bought, in his words, A LOT of Yahoo stock while it was cheap and a limit order traded it at $300/share. As he put it, I’m not worried about my retirement anymore.

I held quite a few shares of a mining stock that was $.03 per share. I made a pretty penny on it and was happy. It momentarily hit >$60 per share. If I sold at that price, I would have owned my home outright at 25 yo.
 
A few years ago I downloaded an app called Stash. It’s basically a way to buy portions of stocks as opposed to actually just buying shares. They kinda take your money, add it to everyone else’s and buy it. Similar to a mutual fund. For as little as $5 you can sign up. You pick out different types of things you want to invest in, and that’s about it. I started it with just a few bucks to see what it was like, and enjoyed it. A few months later my wife signed up. When her account got to a certain point she cashed out. I’m still in and it’s been kinda like a secondary savings account. I now auto-stash $40 per week.

It’s a nice little side savings that has better very good returns. So if you aren’t wanting to go all day trader or pay overly close attention to things I recommend it. I have about 6 different sets of stocks I buy into, and every few weeks a bit of dividends comes back. I just roll it back in.


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B00ger said:
A few years ago I downloaded an app called Stash. It’s basically a way to buy portions of stocks as opposed to actually just buying shares. They kinda take your money, add it to everyone else’s and buy it. Similar to a mutual fund. For as little as $5 you can sign up. You pick out different types of things you want to invest in, and that’s about it. I started it with just a few bucks to see what it was like, and enjoyed it. A few months later my wife signed up. When her account got to a certain point she cashed out. I’m still in and it’s been kinda like a secondary savings account. I now auto-stash $40 per week.

It’s a nice little side savings that has better very good returns. So if you aren’t wanting to go all day trader or pay overly close attention to things I recommend it. I have about 6 different sets of stocks I buy into, and every few weeks a bit of dividends comes back. I just roll it back in.


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Man...I just looked at it. I am going to research it....but it requires immediate sign up with SS# disclose along with a lot of other info. I would like to test drive or see some reviews way before I release that kinda info...
 
Most any brokerage is going to require your ss number and a picture ID. If not, I could sign up under any mythical 9 digit number, make a killing, and stick you with those pesky capital gains taxes.
 
That and thanks to the precious republicans and their “patriot act” these places are now a “financial institution” and will be subject to “regulation” and will undoubtedly implement more than is “required” all in the name of “security” and preventing (domestic) “terrorism” committed by “white supremacists”.
 
Jeppo said:
I’m not sure about that.

Today, nearly the entire public float changed hands (50 million shares). That means there were buyers paying anywhere between $250 and $414 per. If those buyers were “shorts” covering their bets, so be it. If the group included the Reddit crowd arriving late to the party, I expect they’re gonna be in for a rough ride.
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Read that some Billionaire in China was buying $10m worth. That’ll help the cause.
 
The powers that be won’t let this happen again. Rest assured your silver will stay $25-$30 an ounce.
 
Bigdave0924 said:
The powers that be won’t let this happen again. Rest assured your silver will stay $25-$30 an ounce.
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At what costs? At what expense to the rigged financial system as a whole? How much more can they sweep under the rug by pumping numbers overnight into computer accounts and put it on the fed balance sheet?
 
Jeppo said:
I’m not sure about that.

Today, nearly the entire public float changed hands (50 million shares). That means there were buyers paying anywhere between $250 and $414 per. If those buyers were “shorts” covering their bets, so be it. If the group included the Reddit crowd arriving late to the party, I expect they’re gonna be in for a rough ride.
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They may call themselves retards and autists, but most of them seem to be fairly responsible...I mean, you got people on there wicked excited with their 2 shares of AMC and fractional shares on GME because they feel as though they're "doing their part" the best they can. Making gains is secondary to crushing the hedge funds for manipulating our lives for their gain.

Chances are even more of these folks have self-directed IRA's and are trading within that account with whatever amount they're okay potentially losing, or on the flip, going to the moon. Not like it's effecting their day to day finances.
 
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IrishCannon said:
I mean, you got people on there wicked excited with their 2 shares of AMC and fractional shares on GME because they feel as though they're "doing their part" the best they can. Making gains is secondary to crushing the hedge funds for manipulating our lives for their gain.
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Yup.

But, it takes a whole bunch’a fractional purchases to move 50 million GME shares in a day. Some have been making big bets.

I’m just sayin’ somebody is gonna get hurt here and it might not ONLY be the shorts. Who knows whether it will ever return to $2.50 but I’m pretty sure it won’t remain north of $300.
 
Jeppo said:
Yup.

But, it takes a whole bunch’a fractional purchases to move 50 million GME shares in a day. Some have been making big bets.

I’m just sayin’ somebody is gonna get hurt here and it might not ONLY be the shorts. Who knows whether it will ever return to $2.50 but I’m pretty sure it won’t remain north of $300.
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...to URANUS!!!!

I think you fail to see here, that the #1 goal is to crush hedge funds and not to make "dem gains" - that's all secondary.

Have you read Atlas Shrugged? - You remember Fracisco, he invested his entire empire into crushing another company, solely for the goal to crush them, at a loss to himself.
 
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IrishCannon said:
...to URANUS!!!!

I think you fail to see here, that the #1 goal is to crush hedge funds and not to make "dem gains" - that's all secondary.

Have you read Atlas Shrugged? - You remember Fracisco, he invested his entire empire into crushing another company, solely for the goal to crush them, at a loss to himself.
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Yep. The guy from China said he was throwing in a crazy amount, Portnoy put in 2mil because he’s willing to lose it for bulletin board material in his war against Robinhood. There’s been a lot of stories of this being less about money and more about sending a personal message.
 
I think a lot of people enjoy watching the crooks getting a little karma.

I wish congress would outlaw short selling, but they're some of the crooks that started it and keep making money from it.
 
It appears the empire is fighting back. Silver snd GME now tanking. Wonder if having markets online and electric makes them easier to manipulate? Hhhmmm? Kinda makes you wonder. If votes online can be adjusted can stock and commodity pricing?
 
Jeppo said:
So, those that couldn’t buy yesterday on Robinhood, but are buying today at 80% above yesterday’s close, will eventually get creamed.
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I wonder how that trade is working now, at $115.
 
Gonna be a hard lesson learned here for some. And I'm sure that there are some willing to lose a little bit to get the feeling that they are sticking it to the man, but there are others who dumped rent money etc into this who will suffer. I got no problems with it, as someone else stated, it's just educated gambling. I got in and out a few times, keeping tight trailing stops, knowing that the bottom would fall out eventually. One of my new plays (if anyone is interested in supporting a firearms related ticker) is POWW. They are AMMO Inc and have a earnings report coming up on the 12th. They had a 2 day spike from 2.50ish range up to almost 9 dollars back in January, but have settled back in around 5 dollars. I went in heavy on shares and March call options when they dipped below 5 at the end of last week, up pretty nicely now, but I'm looking for about $10 share price after earnings. Small spike so far today due (i believe) to news about expansion on their 50 cal line and the beginning of a runup to earnings. And as always, I'm just a nobody redneck from pumpkintown SC, and not a financial advisor by any means.

and as I'm tying all of this out, its running pretty hard.
 
Jeppo said:
I wonder how that trade is working now, at $115.
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From $115 to $90 in 30 minutes. Pretty clear the shorts are gone and now the blood is being spilled by those thinking they were “sticking it to the man”.

I get why people are bailing. But, for each seller there’s a buyer. What are they thinking buying it at $90? Can it be, “Wow, this was $500 last week and now I can grab it under $100...such’a deal”?
 
Jeppo said:
From $115 to $90 in 30 minutes. Pretty clear the shorts are gone and now the blood is being spilled by those thinking they were “sticking it to the man”.

I get why people are bailing. But, for each seller there’s a buyer. What are they thinking buying it at $90? Can it be, “Wow, this was $500 last week and now I can grab it under $100...such’a deal”?
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Maybe, idk...holding and not sweating it. I had more in AMC, and I fully expect it to cover any losses, and if they drive the price of AMC even further down, I'm buying more. I fully expect there to be a short period of time where relative normality is established around the Spring/Summer before they go full on lockdown extreme...I'll sell upon any announcement like that if I'm up, otherwise, holding.

I didn't dump my life savings here, just what I was comfortable gambling with in an IRA, so no tears from me.
 
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Jeppo said:
From $115 to $90 in 30 minutes. Pretty clear the shorts are gone and now the blood is being spilled by those thinking they were “sticking it to the man”.

I get why people are bailing. But, for each seller there’s a buyer. What are they thinking buying it at $90? Can it be, “Wow, this was $500 last week and now I can grab it under $100...such’a deal”?
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Are people bailing or is an internet based system possibly corruptible? How would anyone knows if Silver and GME were both manipulated downward at almost the same time? Does anyone really trust the people running the exchanges? Or the Government watchdogs? I’ll keep watching from the sidelines because
I think the results may be instructive.
 
So what is a good resource for speculation on what stocks to buy? Assume I know less than the Reddit people.
 
NCMedic said:
So what is a good resource for speculation on what stocks to buy? Assume I know less than the Reddit people.
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What’s your objective, making a killing overnight or accumulating wealth for retirement?
 
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