The Market 2021

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

  1. BigRedRage

    BigRedRage Reckless Contributor

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    hoping GME continues to plummet. The rumors were bought and news sold. the narrative of "have no plan" because Cohen isnt announcing the full plan is welcomed. I want it to get back to a reasonable number so I can get back in. I believe in the new structure and the brand moving forward and believe that is it gets low enough, I will always make some money on the optimism of it moving forward. Down to 228 so far. Last time I bought in was 170 and sold around 230. Happy to keep doing that.
     
  2. elindholm

    elindholm edited for content

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    Looks like you're in good shape. You can probably hold out for it to get below 100 before rebuying.
     
  3. BigRedRage

    BigRedRage Reckless Contributor

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    That is very unlikely based on recent trends but I would be ECSTATIC if it went that low. I imagine it will hold the line between 180 and 220. We'll see. It hasnt been as low as 100 since february and stalled right at and around 150-200 throughout most all of march, april and may.
     
  4. Devilmaycare

    Devilmaycare Registered

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    I wouldn't be surprised if it shot back up either tomorrow or Monday based on how it's been acting the last few months.

    I'm really starting to hate the meme stocks though on my thinking. FOMO is a pain with them. Yesterday when it was over 300 I was thinking that I should sell the few shares of GME that I have. I would have done it with a normal stock but in the back of my head I'm thinking "it could jump another 100 tomorrow." There's no rational thinking with them.
     
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  5. dscher

    dscher Registered

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    Two words that are a trader/investors worst enemy. :)
     
  6. BigRedRage

    BigRedRage Reckless Contributor

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    Stop loss and be happy. That's my opinion. I like them because when they get grounded, I just jump back in and do it again. Then I dont have to question when to sell or etc. Sometimes, like with amc, I brough home a few grand and if I waited it woulda been closer to 30k but it is what it is. Still made money. Probably still go into AMC again as it slides down.

    Right now I dont own stock so that perspective cant hurt me. At some point I will decide I think it normalized and if that number is low enough, I'll be right back in it.
     
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  7. BigRedRage

    BigRedRage Reckless Contributor

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    PS: a bunch of short interest was opened today on index funds that own GME. The cycle is starting back over. It could start swinging up again but I think it will drop more as all the shorts pile on and once they do, its time to push back.
     
  8. Devilmaycare

    Devilmaycare Registered

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    Stop losses are usually good but once again they drive me nuts with meme stocks due to the volatility and the stop loss raids that happen. I've been burned on them a couple times, like last week with AMC, when there was a quick drop and then it bounces back. The AMC one cost me an extra $2k in profits.
     
  9. BigRedRage

    BigRedRage Reckless Contributor

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    yeah they have gotten me out earlier than planned a few times but thats part of the game. I still profit so its all good. I currently base my stop losses just on actual dollar amount per stock. In the suture, I might do a percentage drop per stop loss instead.
     
  10. Folster

    Folster he/haw

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    What index fund has a significant weighting in GME?
     
  11. dscher

    dscher Registered

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    Probably IJT. But it's a small percentage. I'd look for it in some meme stock ETFs more than likely. FOMO ETF?! Would be fitting. :)
     
  12. BigRedRage

    BigRedRage Reckless Contributor

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    Nothing significant I'm aware of but there are some 8%s. I imagine it's temporary and will be back on gme before long. Just hedge funds doing hedge things

    Sent from my SM-G998U using Tapatalk
     

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