Trading the stockmarket (NO Referrals)

[Trig]

Oooof, after hours on GME isn't recovering yet, is this an out of hours ploy by the market to try and force a sell from those holders and make them think that its all over, before it actually is...
Could be an interesting day...

 

[Noxia]

I'll be buying back in if it's this low on opening just because I enjoy the ride. Not with all my prior profits of course.

 

[Martynt74]

Oooof, after hours on GME isn't recovering yet, is this an out of hours ploy by the market to try and force a sell from those holders and make them think that its all over, before it actually is...
Could be an interesting day...

The German market has opened now. It's increasing slightly which is usually what starts the US out of hours price to increase.

Don't see a full recovery though.

 

[Tom_ed1987]

Been considering throwing some disposable income each month at the stock market and funnily enough was doing a lot of reading before the GME meme stock. Tried to register on Trading212 but they have shut down any new accounts due to all the FOMO guys rushing to buy GME. Not asking for referalls but does anyone have any recommendations for a easy to use platform for a virgin stock monkey

You can buy US stocks through Revolut (I think 3 free trades per month or something like that) - signup is much faster than any of the trading platforms.

 

[Trig]

The German market has opened now. It's increasing slightly which is usually what starts the US out of hours price to increase.

Don't see a full recovery though.

As long as it goes back above 240 I'll be fine lol

 

[Martynt74]

As long as it goes back above 240 I'll be fine lol

Haha i'm not too confident. It's interesting reading all the stuff on WSB, but it's hard to know if it's just confirmation bias or genuine stuff. It's getting a bit conspiracy theory for me and whilst i imagine some of it will be true, it seems a bit far fetched that some hedge funds have got so many people under their control.

I suspect it'll slide as people give up and just cash in. Especially those who got in early as things stagnate. No-one new is coming into this seems the huge drops either and half of the posts on WSB are probably nonsense now.

 

[Trig]

Yeah, stagnant prices will get people bored and they'll move on, I wonder how many on WSB are actually still in this and how many have sold but are just posting the meme's and rocket emoji's...

 

[Gaygle]

I wonder how many on WSB are actually still in this and how many have sold but are just posting the meme's and rocket emoji's...

I'd guess a significant part will be the latter. If people think they're going to lose money, the vast vast majority will want to stop this from happening. Only a few mentals who are more infatuated with the spectacle of it and who keep squarking "HOLD THE LINE" in the face of losing tens of thousands of dollars will actually hold (...the bag).

 

[413x]

Haha i'm not too confident. It's interesting reading all the stuff on WSB, but it's hard to know if it's just confirmation bias or genuine stuff. It's getting a bit conspiracy theory for me and whilst i imagine some of it will be true, it seems a bit far fetched that some hedge funds have got so many people under their control.

I suspect it'll slide as people give up and just cash in. Especially those who got in early as things stagnate. No-one new is coming into this seems the huge drops either and half of the posts on WSB are probably nonsense now.

That's how I feel. No one new is coming in. And the pre market moves are so dramatic you can only watch from the side lines as you lose/gain. Pre market seems immoral to me. But money is money.

Once pump and dumps lose momentum, just like the ceiling, who knows where the floor is.

And those who didn't cash out last week are crazy

 

[arknor]

Yehhh, BP were doing well until about 10days ago, now they are just eating **** everyday. That said, surely there's no point selling and losing money. Assuming your average isn't huge, the price will recover to a break even at some point unless you're thinking there is some huge drop coming and you'll rebuy after this huge drop.

Hopefully there isn't a huge drop coming (apart from today will be the only thing I can see which will give a big swing, could go up?) so I can't see it being worth selling now.

The dip in price is from oil price dropping slightly, BlackRock announcing they're not going to invest in any company who hasn't got good green credentials and the earnings report due today.

As confidence grows in the next couple of weeks over lockdown lifting and the earnings report, whatever it says, being in the rear view mirror, I can't help but think this will have a good impact on the price. Especially if BP are also making strides to become greener so they aren't at risk of losing BlackRock investments.

That said, as soon as I can get close to break even, I'm going to reduce my position with them. I think they'll do fine in the long run, but they're a bit of a risk as they still have a lot of debt and are going through this green restructuring which is costing billions at the same time.

I'm only down 6% so far.
been averaging down all the time though and hold like 3x more shares than I wanted too.
ceos surname is LOONEY, guess it makes sense now.

 

[Trig]

Down to $170, see how many bail today as it tanks, that in turn will cause it to tank more, and the brokers eventually win as everyone panic sells lol

 

[Gaygle]

I'm only down 6% so far.
been averaging down all the time though and hold like 3x more shares than I wanted too.
ceos surname is LOONEY, guess it makes sense now.

Mmmm, it's a great time to do that, shame my ISA is maxed out and all my other positions are down too so I don't want to sell anything. My avg is 293p which is looking further and further away as the days go on. Ah well, it was always a long term hold, I don't need to withdraw the money so there's no point in worrying about it. If you don't have BP shares, now-ish would be a great time to buy in. The rubbish earnings report has come and the price has taken the hit, all the baked in optimism of a quicker recovery that existed 3 weeks ago is gone and genuine optimism is returning with the vaccine and senior politicians, who have recently been very cautious, now making noises about us enjoying a summer again along with news of 10million vaccines set to hit the headlines tomorrow.

 

[Casdawer]

Watching the GME price drop is making me feel slightly better about coming out last week (though $132 was still not my ideal exit price). Should've sold at $400

Shame AMC is taking the same hit as GME. I know the 2 are tightly knit together but AMC is actually in a good position for post-COVID. A part of me wants to just cut my £200 loss and just get out but the other part of me thinks that AMC should be a long game due to an expected high demand in 'outside' activities once vaccinations are in full swing in the US.

FUD in full swing by Wall Street and these dirty tactics need to be looked at.

 

[Mull3t]

Jesus it’s definitely tanking now.

 

[Jono8]

Seems like this goose might be cooked.

Glad my indecision kept me away.

Was an amazing opportunity for those that got in early though (ie end of Dec/start of Jan)

Is there really any realistic possibility there will be a short squeeze now?

 

[Gaygle]

Is there really any realistic possibility there will be a short squeeze now?

I think today will be critical. But my prediction is no.

I think there will now be a gradual decrease in the share price over the next 2-3 days as people slowly lose confidence that they aren't going to the moon, and start selling off slowly as a result. The shorters will just watch and wait I'd imagine.

 

[Jono8]

I think today will be critical. But my prediction is no.

I think there will now be a gradual decrease in the share price over the next 2-3 days as people slowly lose confidence that they aren't going to the moon, and start selling off slowly as a result. The shorters will just watch and wait I'd imagine.

This is going to be horrible for those that threw everything they had at this at the 300-400 dollar mark.

If the share price goes back down to where it was before all this started and they keep holding they are going to lose almost everything.

 

[unwashed potato!]

perhaps it is down for good and it's all over, but don't forget, last thursday it went from 470 to 120 or so and then back up to finish the week at 328.

if you beleive in the squeeze it was always expected to drop, but hopefully not by much so that when the squeeze comes it rises faster.

at some point one of these hedge funds are going to decide that it's low enough to buy all the stock they need to buy, and in theory it should set off a panic buy from the other hedge funds that want to do the same while the price is low.

 

[413x]

perhaps it is down for good and it's all over, but don't forget, last thursday it went from 470 to 120 or so and then back up to finish the week at 328.

if you beleive in the squeeze it was always expected to drop, but hopefully not by much so that when the squeeze comes it rises faster.

at some point one of these hedge funds are going to decide that it's low enough to buy all the stock they need to buy, and in theory it should set off a panic buy from the other hedge funds that want to do the same while the price is low.

It had hype, momentum and positive sentiment then.

Now there will be a lot of people nursing losses who will feel betrayed. 'I was promised id make money' and they will be bitter. And vocal.

The new people who basically thought this was free money have been woken up. There will likely be a bit of a bounce at open. But it will probably correct as the days go on to near where it started.

No doubt it will be a volatile stock for months

 

[Gaygle]

This is going to be horrible for those that threw everything they had at this at the 300-400 dollar mark.

If the share price goes back down to where it was before all this started and they keep holding they are going to lose almost everything.

Yeah, I got in at like $290 odd, and sold at like $315 or so (after it hit $380) because the swings up and down were so violent and unpredictable, especially with the interferences of RH/T212 preventing purchases, that the risk outweighed the gain. I got in as it was making sustained and trending growth but as soon as RH/T212 started interfering, I got out fast.

As someone said days ago, this isn't investing, this is just gambling. There's no logic to it or reason to it - and people who have chucked lots and lots of money into this should have seen this coming and my sympathies are very limited. You've got rank amateurs on Reddit who have never invested or traded in their lives trying to play with the big boys, whilst betting their life savings/mortgage on it. Ultimately, the head of Melvin Capital will have sustained heavy losses, but he's still being chauffeured in the back of a Rolls Royce back home to his million pound mansion to see his supermodel wife. And he'll be bailed out by his contacts and have to put up with some short/medium term pain - but ultimately, I think he'll be just fine.

Redditor who chucked everything in on this and who has lost thousands/tens of thousands of dollars is going to struggle to make rent payments on his flat, not be able to pay back friends/family who they borrowed off, not be able to take their wife/girlfriend/kids on holiday which they had promised to do so and have much longer term pain.