The Market 2021

Discussion in 'Finance, Investments, and Careers' started by Folster, Jan 7, 2021.

  1. dscher

    dscher Registered

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    Words of wisdom.. I know. :D

    The most important and his best imo.. rule #1- never lose money. Rule #2 - never forget rule #1.

    Easier said than done, Warren :) but, tis true, protecting your capital is most important.
     
  2. Finito

    Finito Registered

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    AMC and GameStop taking a tumble today after a hot start.

    from what I understand AMC has to be at a 10 on close Friday then it’s going to set off a chain of events for the stock.

    my apprentice who also doubles as my financial advisor now apparently was telling me about calls coming due on Friday and that leading to gamma squeeze then that leading to a short squeeze.

    I’ve always been pretty conservative never got into the deep water like this, but it’s pretty damn fun.

    one thing is for sure though this next generation coming up is going to be so much more educated and aware of this stuff more than ever before
     
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  3. Devilmaycare

    Devilmaycare Registered

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    What type of chain events? Stuff for it to go up or down?
     
  4. BigRedRage

    BigRedRage Reckless Contributor

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    My sell price is below 100...not right at 100...so we'll see how overnight trading goes.

    Just bought another 1,000 shares at $100.













    just kidding.
     
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  5. BigRedRage

    BigRedRage Reckless Contributor

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    383 shares of AMC over here :)
     
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  6. Finito

    Finito Registered

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    The...MOON
     
  7. BigRedRage

    BigRedRage Reckless Contributor

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    this time the media is reporting the potential squeeze vs just talking about how retail traders dont know what their doing and blah blah. Today should be interesting.
     
  8. iLLmatiC

    iLLmatiC Drive-by Poster

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    We got our house appraised last year for 313K. It was just appraised again earlier this week for 386K.
     
  9. iLLmatiC

    iLLmatiC Drive-by Poster

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    DMC,

    The crazy part is those 3 houses will get bid over their asking price too! Likely with an all cash offer from California. I said the same thing about banning California residents from buying homes up in Arizona. I hope supply picks up in 3 years or the demand goes down because as it stands right now, the value of homes in Arizona is going to continue to shoot up and since there's no limit on what can be charged for rent apartments and rentals are skyrocketing too. The wages aren't high enough in Arizona to keep pace with the cost of living.
     
  10. Folster

    Folster he/haw

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    Higher interest rates would help curb demand, but also hurt first time homebuyers.
     
  11. iLLmatiC

    iLLmatiC Drive-by Poster

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    Yeah, that's what is partly causing the bloodbath. My interest rate on my new loan is 3.5%, it would be lower but it's a condo and not a house.
     
  12. BigRedRage

    BigRedRage Reckless Contributor

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    paper handed 100 GME like the boomer I am
     
  13. Folster

    Folster he/haw

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    LOL!
     
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  14. Folster

    Folster he/haw

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    gain/loss?
     
  15. BigRedRage

    BigRedRage Reckless Contributor

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    minor loss. I ended up splitting my shares with two stop points. Both at a very minor loss. If it broke through both, it would mean we are likely going back into the 40-60 range and once settled down I could get the same position I had at a fraction of the price. After my $87 paper hand, of course, its back above 100 so we will see. I will either ride 165 real high and paper hand a stop below it or it will crash and I will walk away with a totally acceptable loss.

    For perspective, I caught the first moon late. I ended up bought in at stupid numbers like 200 and 300. and 100. Then, I had lost a bunch of money and was like whatever, ill just ride it out as is, no big deal. After the congressional hearings and seeing DFV doubled down his shares, I said f it and did the same. This is the ONLY reason I am breaking even and at a small loss and why a small loss feels SOOOO good. So, now, my 40/60 bets are still in, all the 300s and 200s are gone and I'm ready to moon or sell at no loss if it craters more.

    I felt like a fool and an idiot. Then I felt confident and now I'm just thankful I got strategic with it. Oh yeah, averaging down with DMV put me WAY over my comfort line so again, totally happy right now with where I'm at, the risk I took and even with not selling at 180 because the goal and mission still exist. its not dead.

    GME shares are in HUGE short territory again. The hedges are digging in deeper and deeper over and over as these squeezes happen.
     

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