GME. Be careful. This thing is about to dump hard.
Updated
Anonymous WSB folks keep saying, HOLD.
What they did here is truly remarkable, but unsustainable.
The people on WSB who were telling people today to HOLD! Didn't tell them what they were holding.
It's the bag.
I will be paying more attention to WSB in the future, and I will likely be trading with them in the future if I get in early enough, but I am not getting in on this play here. It is way over it's skis.
In fact I went short (with puts) today.
This is not investing advice, just my opinion. The mean is at about 56$ a share...
What they did here is truly remarkable, but unsustainable.
The people on WSB who were telling people today to HOLD! Didn't tell them what they were holding.
It's the bag.
I will be paying more attention to WSB in the future, and I will likely be trading with them in the future if I get in early enough, but I am not getting in on this play here. It is way over it's skis.
In fact I went short (with puts) today.
This is not investing advice, just my opinion. The mean is at about 56$ a share...
Note
Hmm... not sure why tradingview is not displaying real time data on this, but my brokerages are. Looks like it is back to crazy time again, and way up again pre-market. I will either double down on my shorts, or close out, and stay away until the dust settles.Trade closed manually
Well that was a wild ride. I made some good money on those puts, and I am out of them now. This isn't really technical analysis any more, but I think I am joining the WSB revolution (if my brokerages will let me.)
Not sure if I am going to jump on board with this crazy train (from a technical analysis standpoint, but I just might for the principle of the thing.) And I definitely will be following their trades in the future.
Note
We could actually do more collectively if we didn't think of ourselves as "retards" and "degenerates".Disclaimer: This is not financial advice, just my opinion.
Just think of the power we could have if we worked together defending important levels, like the VWAPs (daily, weekly, monthly, and yearly), and other indicators like the RSI (oversold levels).
People should not be buying blindly into this, we should be collectively be defending (buying into) important levels, as mentioned above. There are people on here who are very knowledgeable about trading, and investing, and technical analysis. If we really want to succeed in this effort, we need to become more sophisticated about putting our collective efforts into defending these important levels.
These are what all big time traders, and investors are looking at. And if we defend them, and show we have have sophistication of knowledge, in addition dedication, and moral perseverance, they will have no choice but to have to respect us.
We are not degenerates, and we are not retards, and we should remove those words from our vernacular, because people who are literally retarded, aren't so by choice. They deserve our compassion, and help.
I am not a degenerate, and I am not a retard. I am a highly functioning individual, and proud of it, and I feel compassion for people who are truly retarded.
I love what WSB is doing, #BreakTheSystem, but this is the one thing about WSB I don't like, and can't get on board with.
If you all want me to get on board with you all, you all need to stop that bullshit.
Note
Here is the thing:This might be unpopular, but I would like to purpose an idea that supports this move, and also protects individual's capitol. YOU CAN TRADE AND HOLD.
I made this post in regards to DOGE coin (a so called "crypto currency"), but it applies equally to GME, and AMC, ect... The only difference is, this crypto is not undergoing an attempted (and hopefully eventually realized) short squeeze against major hedge funds, and market makers.
As such, what WSB is doing here, actually has more moral standing, as opposed to the move in DOGE coin, which has moral standing in the terms of the ability to get a lot of small time investors, and traders in on a crypto that doesn't take 30k to buy one coin (like BTC.)
This is cut and pasted from the Crypto, and Doge coin posts I made, and I will delete those specific parts related to that "security".
Disclaimer: This is not financial advice, only my opinion.
Getting back to my thesis here, basically what I am saying here is you can take half of the money (that you are willing to lose, because in all trading or investing you could lose it all, so you should only be working with money you can afford to lose), and buy and hold GME (or AMC, or whatever this community is behind) until if and when it becomes clear that a downtrend is established. And you can use the other half to trade it.
This idea on here that you should just buy in with all your money and just hold it is a bad idea. And a lot of people could get hurt by this.
The advantage of this approach is that, 1) You are holding, making the resource more scarce, and driving up it's intrinsic value. And 2) You are profiting by trading the swings, thus giving you the capitol to buy and hold (and trade) more.
Dollar cost averaging also comes into play here, because if you bought in at a higher price point than the current price, and are sitting on a loss currently, you can get your self back to even this way, and eventually profitability.
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