abenjami Posted January 26, 2021 Author Report Share Posted January 26, 2021 There's still time to get in on the airlines before they get their recovery pop. Link to post Share on other sites More sharing options...
chef Posted January 26, 2021 Report Share Posted January 26, 2021 35 minutes ago, abenjami said: There's still time to get in on the airlines before they get their recovery pop. I haven't pulled the trigger yet but been considering a syn long on LUV. On flip side to digging in further I am darn near pulling an abenjami and am thinking of pulling out of a decent % of my longs, though frankly on review I feel pretty solid about most of them as I'm not in to many of the overpushed tech plays. Just been feeling that pull back coming for a long time and now that's it's become more of a market media story I get the feeling of self-fulfilling prophecy on the way. Not some full recession/crash, but a solid run for the exits especially among newbies when things turn south. Attitudes do just seem way too much like I remember from '98-'00 though I think the majority of the underlying businesses are on more solid ground. Interesting scenario in that valuations have become so detached from reality it's just a gamblers markets, really Ponzi like, a la Dot Com. But unlike then, many businesses are good operations, not going anywhere, just overvalued by traders who are only thinking I can see this for more tomorrow regardless of value today. I am a big believer in the humor of the trader's phrase This Time It's Different. Still feels like musical chairs right now. Everyone knows the music will stop one day with no where to sit but with all the stim $$ and economic reopening going on it combined with ongoing more or less zero rates, it just doesn't seem like the end of the game is anywhere in sight. Now if interest rates get pushed up likely due to inflation down the road, look out. You'll hope your ass in secure in a chair by then because those left standing will be in a world of pain. Would be good reading for those under 40 to see what kind of positive news was floating around as widely held belief back in late 07 or 99, 99 being more apropos in this case. Still, you just stay in with solid stuff for the long term and it almost always works out fine. abenjami 1 Link to post Share on other sites More sharing options...
wiscotitansfan Posted January 26, 2021 Report Share Posted January 26, 2021 My buddy claims to have got 500 shares of gamestop at $20 or so.... Pretty sure the idiot is planning on keeping his shares for the time being and hasn't sold them off yet CreepingDeath 1 Link to post Share on other sites More sharing options...
abenjami Posted January 26, 2021 Author Report Share Posted January 26, 2021 The Gamestop thing is hilarious. A bunch of message board "investors" putting the screws to the shorts on a company that hasn't had significant earnings in years. Talk about musical chairs, that one's going to fall hard when the selloff starts. CreepingDeath, chef, and wiscotitansfan 3 Link to post Share on other sites More sharing options...
wiscotitansfan Posted January 26, 2021 Report Share Posted January 26, 2021 12 minutes ago, abenjami said: The Gamestop thing is hilarious. A bunch of message board "investors" putting the screws to the shorts on a company that hasn't had significant earnings in years. Talk about musical chairs, that one's going to fall hard when the selloff starts. I'd love to be a short now besides all you could lose in the short run with these swings, if you're willing to short the stock at $17, why the hell wouldn't you be excited to short it at $90. abenjami 1 Link to post Share on other sites More sharing options...
chef Posted January 26, 2021 Report Share Posted January 26, 2021 17 minutes ago, abenjami said: The Gamestop thing is hilarious. A bunch of message board "investors" putting the screws to the shorts on a company that hasn't had significant earnings in years. Talk about musical chairs, that one's going to fall hard when the selloff starts. It's the new version of Pump n Dump. Except this time by the masses not the institutions. That's why Ponzi in all forms since based on idea that someone will always come in behind you to pay more. If you got in (and out) at right time you can make a killing off the suckers at the bottom of the pyramid. I think this behavior completely ties into the same mentality that allowed Qanon, storming the capital, Bill Gates is inserting microchips through the vaccine etc. At its core tenants all religious style mindsets and belief systems combined with outsider mentality against anything that seems otherwise widely accepted as reasonable and therefore not to be trusted - like NBC news, anything not on fringes of politics, or a P/E ratio. I actually don't so much mind the "little guys" beating Wall St at their own games as much as the fact that the sheep they use to do so are most likely going to be the ones slaughtered in the process. The fact that ETSY jumped so hard in premarket just because Musk mentioned them (like every stock he mentions) further hammers home this cult of personality era we've jumped into over anything like reason. abenjami, wiscotitansfan, and OILERMAN 2 1 Link to post Share on other sites More sharing options...
wiscotitansfan Posted January 26, 2021 Report Share Posted January 26, 2021 3 minutes ago, chef said: I actually don't so much mind the "little guys" beating Wall St at their own games as much as the fact that the sheep they use to do so are most likely going to be the ones slaughtered in the process. It will be interesting to see something like this gain so much traction and most likely be a case study for years to come. I have a feeling that there will be quite a few articles written about the middle-class bagholders (possibly even lower in some instances with some dumb people) and what they "lost". abenjami, and chef 2 Link to post Share on other sites More sharing options...
chef Posted January 26, 2021 Report Share Posted January 26, 2021 2 minutes ago, wiscotitansfan said: It will be interesting to see something like this gain so much traction and most likely be a case study for years to come. I have a feeling that there will be quite a few articles written about the middle-class bagholders (possibly even lower in some instances with some dumb people) and what they "lost". Absolutely. Different in some ways, but again back to dot.com boom and bust, the last ones in were mostly Mom and Dad Middle America - people who largely had either sat out of market since '87 (just a way WAY lower % of 'Murica in stocks back then) or if they were in it was moreso in utilities banks and such, not the dot.com high flyers. Then they heard for years how much money everyone was raking in on all this new-fangled internet stuff and finally decided to jump in. I recall Qualcomm - not actually a bad company. But the numbers of people who bought in at $88 (split adjusted) when it had be $2-4 not long before. Mentality that No way you can lose. Then pretty quickly loses 85% of it value over 6 months. A sub-lesson there is that if you held the entire time now its at 164. Sure beats pets.com. And though I don't think GME is quite pets.com, it's closer to that than Qualcomm at this point. I traded it for a few years (2013-19), working off idea that although everyone was predicting its demise based off expected market trends, its fundamentals were still solid enough to keep it going. Sold puts and ran covered strangles on it a few years as they paid well. Got out in 2019 as the core thesis it would stay above water no longer applied. Like taking RBG out of your office anti-death pool a couple years ago since you were obviously pushing your luck at that point. Link to post Share on other sites More sharing options...
abenjami Posted January 26, 2021 Author Report Share Posted January 26, 2021 Of course GME isn't pets.com because there's no sock puppet mascot! Link to post Share on other sites More sharing options...
Number9 Posted January 26, 2021 Report Share Posted January 26, 2021 (edited) GME GameStop Corp. 147.98+71.19 (+92.71%) At close: 4:00PM EST 214.40 +67.52 (45.97%) After hours: 5:18PM EST I am still in, I sold off 75% of mine. I'l ride the rest into the dirt. It's getting close to time to bale, but I have made plenty. Now I am seeing screaming sell posts like the one below. I bought one share at 120$ i don't care if I lose all my money, sell order at 1000$ Just to run this cool ride. Edited January 26, 2021 by Number9 Link to post Share on other sites More sharing options...
OilerTitanHybrid Posted January 26, 2021 Report Share Posted January 26, 2021 LOL, never seen an 80 bagger in less than a year, but GME did it. From 3 bucks range last March to over 240 in AH today. Fuckin' blown up beyond reality. Number9, and CreepingDeath 2 Link to post Share on other sites More sharing options...
abenjami Posted January 27, 2021 Author Report Share Posted January 27, 2021 That's crazy. Just this morning when we were talking about it, GME was barely over 100. Kinda seems like Bitcoin but with an actual storefront. LOL Number9, and OilerTitanHybrid 2 Link to post Share on other sites More sharing options...
abenjami Posted January 27, 2021 Author Report Share Posted January 27, 2021 GME over 300 in pre market trading. LOL Link to post Share on other sites More sharing options...
OilerTitanHybrid Posted January 27, 2021 Report Share Posted January 27, 2021 26 minutes ago, abenjami said: GME over 300 in pre market trading. LOL lol 100 bagger! Gotta be time to short the short interest on that pos! High of 354, then, down she blows! Link to post Share on other sites More sharing options...
abenjami Posted January 27, 2021 Author Report Share Posted January 27, 2021 4 minutes ago, OilerTitanHybrid said: lol 100 bagger! Gotta be time to short the short interest on that pos! High of 354, then, down she blows! Look how expensive options contracts are. Just 1 contract is crazy no matter what price or which side. Link to post Share on other sites More sharing options...
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