My Latest Purchases Thread Mk. III

Krilons Resa said:
I love stickin' it to the man as much as the next punk but there's no way I am touching GME now. I really wish I did get in on it back when it was CHEAP. Hindsight is 20/20.
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if you believe that the squeeze has yet to happen then it is cheap now. people bought in at fuckin 450+ and are still holding. we're set to open at 170 or something like that and might crash lower during the day.

when the similar vw short squeeze happened back in 2008 it was preceded by a couple of days of the stock crashing HARD to pre-hype levels before the rocket took off.

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if gme follows the same pattern as vw, then we are roughly around oct 21 now. The Man is saying the squeeze has already happened and that it's too late and time to get out but the price movement and volume just do not support that narrative.

of course, this is not financial advice, all i know about investing and trading is that stonks only go up.

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EDIT: another interesting thing: look at how in the case of vw, even after the squeeze squoze, when it crashed it crashed down to levels significantly higher than before the whole thing happened. people are acting like this is a pure pump'n'dump that will leave the bagholders who don't get out in time with a worthless penny stock. i don't think that's the case. yes, if you bought at $450 and don't sell during the squeeze then you will be losing money. no, gme is not worth 300 bux long term. but it is also not a $20 stock right now considering the hype, the enthusiasm around the new board and changes to its business model -- gme is not ready for bankruptcy yet.
 
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My hands are still of diamond, but I have this sneaky feeling that we're going to get fucked over by the Man after all, even though the squeeze should be a foregone conclusion.
 
https://www.thestreet.com/mishtalk/...rts-exposed-wall-street-sleaze-and-corruption

Good article, I've read this guy for many years and hey maybe someday might follow his guidance. I've been a very boring investor for 20 years, which means 1) I don't really have money, but 2) I don't really lose money either.

Also, the Netflix is doing a movie about WallStreetBets.

This proves that RC is full of geezers now. The Latest Purchases thread used to be about booze and vinyl boxsets. Now look at us.
 
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einride said:
1) i got into this early enough that it's pretty much a Sure Thing(tm) if i monitor the situation closely and get out in time*

* feel free to rub it in later when this statement blows up in my face. also: this is dependent on the powers that be letting the free market do its thing which is far from guaranteed at this point
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well, i'm out, and i lost about $2000 which stings a little, but is no big deal in the grand scheme of things. mostly i'm glad not to fuckin obsess about it anymore.

at the peak i was up about $4000. i started having serious doubts about the validity of this whole thing around monday, but still didn't get out because it didn't seem that bad yet and i was still in the green. thought maybe the momentum would carry it a bit further. if i had gotten out monday before close i would have still made a little money. unfortunately when the market was closed monday night it dipped BAD and got to a point where i was in the red. this is when i should have sold, but i didn't.

i think the theory was sound at first but conditions changed rapidly. for instance, when the hedge funds announced they had mostly closed out their positions i assumed that they were lying and that the new short interest numbers reported were false. reddit kept repeating that the trading volume and price movement did not reflect shorts exiting en masse and i drank that kool-aid without actually looking at the numbers myself. in fact, the volumes were more than enough for them to exit bit by bit over the course of these several days. i now absolutely believe that the hedge funds closed all their positions that would enable the squeeze.

i had promised to get out when the sentiment around reddit changed but i was not smart or quick enough to act when it actually started happening. oldest story ever told, i'm sure.

i've learned a few important lessons here and i think i should count my blessings that i learned them for only $2000, because it could have been much worse:

* mainstream media as a whole is either completely shit at their jobs or malicious -- at least when it suits their purposes. i mean, i know this is not exactly an earth-shattering revelation, but some folks really showed their true colors during these events

* i was dimly aware that the decks were stacked against us, but i was not really aware of how or why. these days have shown that very clearly. most important is the asymmetry of information. retail traders simply do not get to learn the facts that they need to make rational decisions. during this entire week we had no credible information on the short interest, which was, you know, the entire basis of the thing we were trying to do. they only have to report them every other week, and even so i understand it is possible to use smoke and mirrors to hide the real numbers to some extent. even if we did know the SI, we don't know what the exact positions are. were they bought at $4? at $300? no idea. i have no doubt the stock is still shorted to shit, but they are new shorts that are intended to cover for the losses incurred on the old, toxic ones.

* i am not as immune as i thought to being caught up in these cult-like echo chambers that tend to form on the internet when people refuse to wake up and smell the coffee. you know, i can sit here and laugh at qanon and the flat earthers and whatnot but towards the end, this was approaching that, and at least for a while i was kind of going along with it. on WSB, everyone who wasn't a true believer was instantly downvoted. i mean it's fun to get dragged along with a wave of success and fucking over The Man but it quickly turns pretty unpleasant when it turns out that reality doesn't agree with the narrative anymore. i will try and approach shit like this with more caution henceforth and try to recognize the signs of a situation turning sour.

at least i was a part of history, ya know? $69,420 is not a meme
 
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A week ago I saw that dude that makes $35k a year put $4k into it go up to $1,000,000+ and all I could think was "dude, sell half, right now, and pay off your car/house/debt/college/life." He said "I'm gonna hold."

The house always wins.

Also, fun fact, The Jonestown Massacre technically drank Flavor Aid, not Kool-Aid. More proof that Flavor Aid can't even get a break with bad press.
 
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Yep. The house always wins. They have way to much leverage. It's a big, fucking rigged system. You def can make $$$ but it's typically with long-term holdings with solid companies and, hopefully, you can get REALLY lucky and get in early on an Amazon or Tesla. Hindsight is always 20/20.

Sorry about the gut-punch Erik.
 
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Krilons Resa said:
Yep. The house always wins. They have way to much leverage. It's a big, fucking rigged system. You def can make $$$ but it's typically with long-term holdings with solid companies and, hopefully, you can get REALLY lucky and get in early on an Amazon or Tesla. Hindsight is always 20/20.

Sorry about the gut-punch Erik.
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thanks.

i mean i do have sensible low-risk investments too, this i did with my "fun money"-- and what's more fun than losing half of it on a meme stock for the lols (actually i can think of a couple of things)
 
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I would not have made it without mailorder booze in 2020. I mean I would've gone to the store without that option, but there is this one magical winery nearby that only sells their stuff for 5 days a year. They make one cream sherry* and nothing else. You have to be on their mailing list or just luck out to get in. Anyhow due to the Rona they could only do delivery this past year. I have not missed this occasion for a long, long time and even the plague couldn't stop it. Thanks, mailorder hooch!

*not yer grammaw's** cream sherry, believe you me

**unless she drinks this particular stuff too, of course
 
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STONKS and a cheap bottle of single malt. Glenfiddich 12 is really great for the money.

But I already made a cool $21 on the day so I'll drink the good stuff to celebrate instead.
 
I bought 3 thangs today for various reasons.

Disney because I think in 6 months when Disneyland opens again shit is gonna go nuts. Plus, I mean, Disney. I could hold this for 20 years and probably make money no matter what.

Pinterest because my stock advisor thingy says to do it. I have never used Pinterest. I have no interest in this crap at all and just hope they make me money. It was the cheapest of the tech stocks they recommended, haha.

Macy's because, well, this is my risky bet. The last time I went into a Macy's was to buy a girlfriend perfume in high school 25 years ago. BUT after all the Rona Shit I have this odd suspicion that malls might become a Thing again. And after everything I saw getting cancelled across the world in 2020 (NAMM, Rose Parade, every concert possible, blah blah blah), the fucking Macy's Thanksgiving Parade still happened.

I don't see myself investing more than $500 a month so just slowly building my crap and have ZERO interest in buying/selling/shorting/dancing/etc. I'm just gonna buy probably 10 different companies and sit on them all. Unless one rockets up to the moon in which case I'll sell half and pay off my house.

I signed up for the $99 Motley Fool thing and plan on using it for 75% of my stonks. My old boss used them years ago and he seemed to do pretty okay. http://www.fool.com/ The other 25% I'm just gonna go with my gut and see what happens.

The other guy I like is http://www.mishtalk.com/ I've followed him for economic news for a long time and well maybe I'll use him to fund my own shit for a change. He has a very interesting take on things, honestly if it turns out that he is actually Demonspell IRL I wouldn't be surprised at all.
 
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