Topic Split: Stock Market Watch

[BF004]

I'll probably sit back and watch what things do and what the chatter is. Don't need to pull out too early. But if it spikes significantly, I may pull some out, and like you said, play with house money.

The app I'm using doesn't seem to support buying crypto. Might need to open a Fidelity account for that. Hard to see anything right now as my app is completely down.

I mainly use Coinbase, it’s good and bad. Everything on there is a ‘safe’ coin, no sketchy ones. But was frustrating you can’t get like dogecoin there at the same time.

[BF004]

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[Pckfn23]

Nice! Hell you could put a sell order in at some absurd price like $405 from Gamestop and make a $%@# killing!

[paco]

Seems things are slipping a bit as the afternoon goes on (AMC and Nokia anyway). AMC still up about 43% from when I bought yesterday though was nearing 70%. Nokia down a little, but I don't think people are hitting that near as hard.

[BF004]

Seems things are slipping a bit as the afternoon goes on (AMC and Nokia anyway). AMC still up about 43% from when I bought yesterday though was nearing 70%. Nokia down a little, but I don't think people are hitting that near as hard.

There is a huge lot of $9 calls, hedge funds are going to try to crash the price to at least there to make them worthless, that would be a big win for them.

If they aren't exercised today, the owners of those can buy a ton more stock driving up the price before calling those $9 options (the part where the short sellers need to buy current market price of the stock and sell them for $9)

So $9 is a big number, hopefully it doesn't get that far down. If it never drops below 9, price gunna explode after hours trading, going to open up really high on Monday.

[paco]

At $12.90 now, so looking good.

[APB]

I am seriously considering opening an account with someone and investing a couple hundred of my fantasy winnings just to help push this along...

[BF004]

I am seriously considering opening an account with someone and investing a couple hundred of my fantasy winnings just to help push this along...

I would get in on AMC before close, it’s going to open a lot higher on Monday.

And I’d hurry, just jumped like 20% last hour

[paco]

Found out a co-worker's mom made 10k on gamestop and got out. That's a pretty aware old lady (probably 70's-80). Really wishing I had the wherewithal and gotten up the nerve to jump in early.

[Captain_Ben]

Thoughts on legality of Short selling, since we are on the subject.

Shorting is fine, it's the naked shorting (happens mostly on OTC's) that needs to stop IMO.

Can you expound on this for us investing novices?

Legal short selling involves the borrowing of shares that are legitimate and part of the float for the purpose of selling them and buying them back at (hopefully) a lower price in the future. When the short seller initially sells the shares, they are delivered to the buyer, the buyer takes possession of the shares, and the short seller is given cash. When the short seller decides to buy back the shares, he pays a seller, receives the shares, and delivers them back to the broker from whom he borrowed them.

Naked short selling involves selling shares without borrowing them. It's a tactic used by mostly money managers whose liquidity is significant enough that they can "make markets." It happens a lot on the OTC's with penny stocks. Money managers have a way of shorting these (mostly rinky-dink) stocks without first borrowing the shares from a broker. The effect that this has is that the market becomes flooded with these "phantom shares," driving down the SP. One of the criminal aspects of this practice is that the unsuspecting investor who is buying these "phantom shares", thinks he is getting real shares, and ends up not even owning the stock.

If you have 10 minutes, Patrick Byrne (Overstock CEO) provides a good background and synopsis. He has been a leader in this fight for some time and was at the center of a lawsuit with Goldman Sachs a few years back.



GME and AMC have been in the spotlight this week but I have a gut feeling that a more pervasive change is happening. The OTC's have been on fire for the past ~6 months. Might it have something to do with lawsuits like this one pushing NSS into the public eye? https://www.openpr.com/news/2051517/bil ... o-be-filed


On a personal note, GNCP is a ticker that I have held for over 10 years and one which I am all but certain has been a continual victim of NSS. It appears to have experienced a short squeeze of its own last week, which I do not believe was coincidental. The short squeezes are happening with more frequency and IMO, the NSS's are getting spooked.

I just hope and pray that the proverbial cat is out of the bag and that these crooks get shown up for the world to see. Hell I wouldn't be surprised if there was a small biotech with a cancer cure that was killed off by these shorting bastards.

[Captain_Ben]

Word is the reddit crew is eyeing Silver as their next "Gamestop."

Was already pretty bullish on silver, but hearing this only makes me like it more.

Anyone recommend a good silver miner?

[kampmanfan4life]

Nothing but index funds for me, besides the individual stocks I buy with my students on a stock market GAME.

The market will correct it's self. Most those who made a lot of money will see another meme and purchase that stock only to lose it all.

Good for those who made money though...just be sure to keep it and remember you'll be paying short term capital gains taxes.

[wallyuwl]

Word is the reddit crew is eyeing Silver as their next "Gamestop."

Was already pretty bullish on silver, but hearing this only makes me like it more.

Anyone recommend a good silver miner?

I have heard (not on the Reddit board) that SLV, the iShares silver ticker, is what would be gone after.

[BF004]

Word is the reddit crew is eyeing Silver as their next "Gamestop."

Was already pretty bullish on silver, but hearing this only makes me like it more.

Anyone recommend a good silver miner?

I've been accumulating more and more metal over the years, I just typically go to the local card and coin, if I get something pricier like an oz gold coin, I call ahead and see if they have any or if they can get one and at what price.

Not sure what kind of bulk you are talking about, but I've heard good things about JM Bullion.

[BF004]

Word is the reddit crew is eyeing Silver as their next "Gamestop."

Was already pretty bullish on silver, but hearing this only makes me like it more.

Anyone recommend a good silver miner?

I have heard (not on the Reddit board) that SLV, the iShares silver ticker, is what would be gone after.

Sure we are not talking about Silver Lake, the fund that just cashed out on AMC for 730 million? lol

[wallyuwl]

Learned today...

The "circle back" lady pretending to be WH press secretary, is married to Greg Melcher a finance official for the Dem Congressional Campaign Cmte. IIRC also related to Peter Strock.

And her brother is a big wig at Citadel, Robinhood's largest client.

[wallyuwl]

So not sure what to do. Anyone in on the plan, re silver? Buy physical silver coins or bars? AG? SLV? PSLV?

[BF004]

So not sure what to do. Anyone in on the plan, re silver? Buy physical silver coins or bars? AG? SLV? PSLV?

Definite Tarp, distraction, keep those glass hands and hodl!

$GME, $NOK, $AMC, buy and hold.

[wallyuwl]

Yeah, I found out Citadel is in SLV since my last post.

My plan right now is to buy some of AG, physical silver or PSLV, and maybe some AMC. Not sure about AMC having another run in it or not.

Learning quickly here. SLV and SIVR are worthless paper, but PSLV are contracts that need to be delivered with actual silver. That is how to squeeze this... Buy up those contracts so there isn't enough physical silver to be delivered. Or just buy physical silver while still available.

Edit... Just ordered Twenty 1 oz coins from Majestic (stock ticker AG). I wanted to buy an additional 5 oz bar but they sold out minutes before I placed my order. Will buy $1100 or so of their stock tomorrow morning once my transfer goes through to fund my Ally brokerage account. Using the "stimulus" payment we just received, wife doesn't want to invest any more than that. Silver is sold out almost everywhere online. Money Metals suspended selling until tomorrow mid-morning (whatever that means).

A good short post...

[BF004]

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