What stocks are you trading today

Wheels

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GameStop?????????? I don't understand this, Bitcoin, Tesla and a few others.

GameStop (GME) shares gained another 92% today to close at a record $147.98 a piece in another clash filled session between reddit WallStreetBets and short sellers. The company’s market cap is now over $10 billion.

View attachment 385999

First and perhaps only tweet of Melvin Capital. Melvin is expected to file bankruptcy next week. They lost $2.7B yesterday and even more today. Taken down by the proletariat.
https://twitter.com/MelvinCapitalLP/photo

@MelvinCapitalLP
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Melvin Capital ’s Tweets​

jqQtqBU5_bigger.png

Melvin Capital
@MelvinCapitalLP
https://twitter.com/MelvinCapitalLP
·3h

We are so fucked.
 

LivingTheDream

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First and perhaps only tweet of Melvin Capital. Melvin is expected to file bankruptcy next week. They lost $2.7B yesterday and even more today. Taken down by the proletariat.
https://twitter.com/MelvinCapitalLP/photo

@MelvinCapitalLP
Global Leader in Asset Management
Joined January 2021
0 Following
188 Followers

Melvin Capital ’s Tweets​

jqQtqBU5_bigger.png

Melvin Capital
@MelvinCapitalLP
https://twitter.com/MelvinCapitalLP
·3h

We are so fucked.
I had a friend go all in on Game Stop at 12.23. I wouldnt believe it but I went back and looked at the texts he sent on our group chat. Pretty amazing times we live in.
 

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Wheels

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Brother in law told me to get in at 40 but never did. Other Brother in law did and rode to 150. Crazy crazy
 

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buy staples. people will always need to ear.
 

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buy staples. people always have to ear. and you get a stable dividend.
 

Wheels

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2021 may turn out to be much more fun than I realized. :LOL:


1611784883409.png
 

Wheels

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1611785753976.png
 

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I bought a cryptocurrency for the first time today: Ripple.

The thought of having bought a few bitcoins 10 years ago for 50.- (fifty) USD/Euro has to be banished from my mind :S Sorry:
 

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This is all based on the greater fool theory. Its amazing that it has happened. Stock markets make no sense day to day but do over 10 years.
 

375 Ruger Fan

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Wheels

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This is all based on the greater fool theory. Its amazing that it has happened. Stock markets make no sense day to day but do over 10 years.
I felt that way till last year.

Governments all over the world are debasing their currencies. All currencies are loosing purchasing power in significant numbers.

Bitcoin has a limited supply. There will never be any more mined after the fixed number run out. There is a cost to mining bitcoin, it is not free. Corporate Treasurers are starting to buy Bitcoin as part of their cash holdings. Bitcoin has proven to many that it has value.

This is a good podcast regarding a Corporation who has moved their cash position to Bitcoin over USD and the reasons why. The CEO is compelling.


Unless politicians quit debasing our currencies, we will all be faced with a question over the next few years. Do we leave part of our net worth in something that is devaluing or do we look for other things like Bitcoin as a store of wealth.
 

Alistair

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I felt that way till last year.

Governments all over the world are debasing their currencies. All currencies are loosing purchasing power in significant numbers.

Bitcoin has a limited supply. There will never be any more mined after the fixed number run out. There is a cost to mining bitcoin, it is not free. Corporate Treasurers are starting to buy Bitcoin as part of their cash holdings. Bitcoin has proven to many that it has value.

This is a good podcast regarding a Corporation who has moved their cash position to Bitcoin over USD and the reasons why. The CEO is compelling.


Unless politicians quit debasing our currencies, we will all be faced with a question over the next few years. Do we leave part of our net worth in something that is devaluing or do we look for other things like Bitcoin as a store of wealth.
I think I'd advise caution on bitcoin as a 'stable source of value' with a 'limited supply' untill you've done some serious and in depth research into Tether, the service they provide and the security they cite as backing their bitcoin positions. Bitcoin might have a finite supply, but most of the bitcoin market trades on unregualted exchanges with Tethers as the interim medium of exchange (i.e, the thing that people actually buy and sell for real world money).

Tethers claims to have $Xbn in assets to back their interim bitcoin 'substitute' intermediary, which they claimed was 100% backed by dollars and therefore tethered in value to the dollar. Under legal pressure, they're now claiming that their token is 74% backed by dollars or dollar equivalents. Not the same thing. Personally, based on their trading volumes and their stated reserve bank based in the Bahamas, I believe their actual backing with real world assets to be less than 20%. Tethers account for well over half the total bitcoin daily trading volume worldwide. Ergo, half of the bitcoin market cap, world wide, is functionally worth 20% of what it trades at.

Links here (the first one is sensational, but also summarises my concerns best):





I'm not saying the entire market is wildly fraudulent and will absolutely collapse as soon as the ongoing investigation into Tether by the NY Attorney General gets to court, but I'm also saing that based on what I personally have researched and understand of crypto capital flows, it definitely is.

Of course, I made my money and exited the market, maybe I'm just jealous of those who are still net long on crypto. I can't claim to have ever understood what Crypto truly offers as an asset class today, having dipped in and out over the years, short and long, to make money off the hysteria and enthusiasm of others, but I would seriously suggest that anyone who is long to a meaningful degree, treat it as a lucrative, but massively volatile bubble market that is at best built on confidence an enthusiasm and may, in fact, be entirely fraudulent to its core. If it were me, I'd take the gains and run. At the very least I'd be hedging hard and hoping someone is bullish enough to support that short.

Personally, I'd still retire with savings in Dollars, Euro, Yen or Sterling. Even Yuan. I would absolutely 100% not trust my financial future to a pension fund priced and traded in Litecoin, or Bitcoin, or Cardano or Ethereum. There's a reason for that and it's because they're not real and the're certainly not currency, irrespective of what the latest generation of social media 'investors' claim.
 

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This GME thing is pretty crazy. Not touching it with a 10ft pole, dont care if it goes to 1000 i dont chase stocks that are anywhere near this far up, but friday should be interesting with so many options contracts going to be assigned.

Sad part is most of the individuals who profited off this wont take profits and some will let it ride until they're red again, many will lose their shirts and much more buying too high, and all but a few that dont fall into those categories will lose it all chasing another home run (not good trade, good gains...home run). Dont be any of those!
 

Wheels

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I think I'd advise caution on bitcoin as a 'stable source of value' with a 'limited supply' untill you've done some serious and in depth research into Tether, the service they provide and the security they cite as backing their bitcoin positions. Bitcoin might have a finite supply, but most of the bitcoin market trades on unregualted exchanges with Tethers as the interim medium of exchange (i.e, the thing that people actually buy and sell for real world money).

Tethers claims to have $Xbn in assets to back their interim bitcoin 'substitute' intermediary, which they claimed was 100% backed by dollars and therefore tethered in value to the dollar. Under legal pressure, they're now claiming that their token is 74% backed by dollars or dollar equivalents. Not the same thing. Personally, based on their trading volumes and their stated reserve bank based in the Bahamas, I believe their actual backing with real world assets to be less than 20%. Tethers account for well over half the total bitcoin daily trading volume worldwide. Ergo, half of the bitcoin market cap, world wide, is functionally worth 20% of what it trades at.

Links here (the first one is sensational, but also summarises my concerns best):





I'm not saying the entire market is wildly fraudulent and will absolutely collapse as soon as the ongoing investigation into Tether by the NY Attorney General gets to court, but I'm also saing that based on what I personally have researched and understand of crypto capital flows, it definitely is.

Of course, I made my money and exited the market, maybe I'm just jealous of those who are still net long on crypto. I can't claim to have ever understood what Crypto truly offers as an asset class today, having dipped in and out over the years, short and long, to make money off the hysteria and enthusiasm of others, but I would seriously suggest that anyone who is long to a meaningful degree, treat it as a lucrative, but massively volatile bubble market that is at best built on confidence an enthusiasm and may, in fact, be entirely fraudulent to its core. If it were me, I'd take the gains and run. At the very least I'd be hedging hard and hoping someone is bullish enough to support that short.

Personally, I'd still retire with savings in Dollars, Euro, Yen or Sterling. Even Yuan. I would absolutely 100% not trust my financial future to a pension fund priced and traded in Litecoin, or Bitcoin, or Cardano or Ethereum. There's a reason for that and it's because they're not real and the're certainly not currency, irrespective of what the latest generation of social media 'investors' claim.

Caveat Emptor. Always know what you are buying. Especially in a new technology. (Remember the dot.com crash.)

Bitcoin and Tether are completely different animals. I don't own Bitcoin at the moment but have no problem going back into it. I don't own Tether and never will. (There does seem to be fraud there from the little I have looked at it)

Is crypto in a bubble. Probably so. Is there any asset class in the world right now that is not in a bubble. These bubbles are all looking for a pin, and they will all find a pin at some point.

Does gold or silver have value. Of course it does even though it is not a fiat currency. What causes it to have value, scarcity and perceived value. As noted in the podcast in my above post, some Fortune 500 companies are putting some of their cash reserves into Bitcoin as a store of value against the USD, Euro, GBP, etc. As corporate Treasurers start adding Bitcoin and taking it out of circulation, Bitcoin might explode way beyond what we can imagine over the next few years.

In the last ten years or so, Bitcoin has gone from being on par with the USD to being worth x30,000. If Bitcoin looses 75% of its value and is valued at 7,500/1 USD, an individual is way ahead over a ten year period keeping their assets in Bitcoin over USD.

In no way am I saying that all of an individuals assets should be exposed to crypto, but with crypto as an alternative, should your assets all be exposed to a fiat currency, especially as countries continue to print money.
 

Wheels

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This GME thing is pretty crazy. Not touching it with a 10ft pole, dont care if it goes to 1000 i dont chase stocks that are anywhere near this far up, but friday should be interesting with so many options contracts going to be assigned.

Sad part is most of the individuals who profited off this wont take profits and some will let it ride until they're red again, many will lose their shirts and much more buying too high, and all but a few that dont fall into those categories will lose it all chasing another home run (not good trade, good gains...home run). Dont be any of those!

There is more shorts than stock outstanding. Yea, how does that happen. These Reddit guys seem to think on Friday that the shorts will have to pay their price and that price may be over $10,000/share.

Will that happen, I have no clue. IMO, the regulators will bail out their friends and these million little guys will be left holding the bag.
 

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