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Played the AMC stonk

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  • greenblood
    greenblood Member Posts: 14,566
    edited August 2021
    godawgst said:

    greenblood said:

    UW_Doog_Bot said:

    backthepack said:

    UW_Doog_Bot said:

    backthepack said:

    I don’t care. Money is money. Market fundamentalists are weeping.

    As my prof(who helped invent high frequency trading) enjoyed telling us. In a recession everything tends to be correlated to -1.

    Make sure you're diversifying out of just stocks and crypto while the sun is shining. Buy a shitty starter house or condo. Buy some commodities. Shit, go hang out in rural Thailand for six months while day trading. Bubbles do burst. Have something to show for it when it inevitably does.

    The real value is that you're learning to invest and play the game at a young age.
    I’ll be doing cocaine off coug co-eds backs soon. But yes. Im as diversified as I can be will still maintaining gains with the capital I have.
    Paging @backthepack have you diversified yet? And into what? Hope you didn't sell your cardano during the dip.

    At least tell us you boofed some coke into a coed.
    Bought a few hundred in cardano at $1.20 range myself. Pretty pumped about that. Also put more money on Matic at .85 range and Chainlink at $15

    I use Coinbase, and I just add $25 here and $50 there. I usually only buy on 5% or more drop days, so haven't bought much in the last week, except for Matic which was still hovering around $1.05 which I thought was still a great buy, and it's as of now $1.40, so I'm pumped about that too. I'm still small potatoes though. I only own about 500 matic and about the same in Cardano.
    Do you think bitcoin's dive from 50k to just below 30 before it's recent bounce washed all the weak hands out of it and vis a vis all the other Crypto currencies?

    I have a rule. I only add to my position in a crypto coin on days where the coin has had at least a 5% dip or more over a 24 hour period. Over 10% is ideal.
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  • greenblood
    greenblood Member Posts: 14,566
    edited August 2021
    This baby is looking primed. I originally got in late at $58, averaged down to $38.
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  • greenblood
    greenblood Member Posts: 14,566
    edited September 2021
    10 million shares shorted today and the price only dipped by .81%. I really like that buying support. Short interest on Ortex has it now at 19.55%. Almost right at where it was when it spiked in early June.

    I like AMC and GME stock because of the community behind them. Other meme stocks are susceptible to more successful short dumps, because they more likely create panic sell offs. But AMC and GME seem to have committed buyers always willing to buy these dips, and it continues to prop up the share price, which I think makes the squeeze that more likely and that more massive. Not financial advice, just my personal preference.
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  • backthepack
    backthepack Member Posts: 19,942
    Hell of a power hour
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  • greenblood
    greenblood Member Posts: 14,566
    edited September 2021
    backthepack said:

    Hell of a power hour

    Looks strong as fuck right now. I think there are a lot of shares being held right now just waiting to be sold short. But either case, it's up 62% in the last month.
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  • backthepack
    backthepack Member Posts: 19,942
    greenblood said:

    backthepack said:

    Hell of a power hour

    Looks strong as fuck right now. I think there are a lot of shares being held right now just waiting to be sold short. But either case, it's up 62% in the last month.
    Made a ton of money off the long term options i bought in the 30s
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  • Sources
    Sources Member, Swaye's Wigwam Posts: 4,384 Founders Club
    knocking on the door. Should rally pretty hard if it holds above 49


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  • greenblood
    greenblood Member Posts: 14,566
    edited September 2021
    Sources said:

    knocking on the door. Should rally pretty hard if it holds above 49


    I'm a little timid for tomorrow only because there are some options expiring tomorrow, and typically it gets shorted pretty hard on these days. But serious support at $48. If it does breakthrough $49, I think it hits a psychological barrier at $50. But once passed that, I think it could run to $55 in a hurry.

    I got into this trade way late at $58, and averaged down to $38. So, I'm loving how this has turned, because I 'm not going to lie. I was sweating a little when it fell under $29.

    With the fight the shorts have given, if it does squeeze, I think it has potential to be huge.
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  • greenblood
    greenblood Member Posts: 14,566
    greenblood said:

    Sources said:

    knocking on the door. Should rally pretty hard if it holds above 49


    I'm a little timid for tomorrow only because there are some options expiring tomorrow, and typically it gets shorted pretty hard on these days. But serious support at $48. If it does breakthrough $49, I think it hits a psychological barrier at $50. But once passed that, I think it could run to $55 in a hurry.

    I got into this trade way late at $58, and averaged down to $38. So, I'm loving how this has turned, because I 'm not going to lie. I was sweating a little when it fell under $29.

    With the fight the shorts have given, if it does squeeze, I think it has potential to be huge.
    I was wrong about today. Even with the Russell and S&P sell off, AMC was bulletproof. This thing has legs.
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