What stocks are you trading today

375 Ruger Fan

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jeanes

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I saw where trading in the "Casino Stocks" was restricted this morning to "protect the little guy". Free market?
 

lwaters

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Was it all small investors. Who knows George Soros may be in the chat room.
I saw where trading in the "Casino Stocks" was restricted this morning to "protect the little guy". Free market?
 

spike.t

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Wheels

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Robinhood is such a pathetic name for a company that just stole billions today from the working man to give to the rich hedge fund managers. Absolutely pathetic. I hope a massive class action suit ensues.

AOC evidently condemned Robinhood too. This may be the first thing I have ever agreed with AOC about. :LOL:
 

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Robinhood is such a pathetic name for a company that just stole billions today from the working man to give to the rich hedge fund managers. Absolutely pathetic. I hope a massive class action suit ensues.

AOC evidently condemned Robinhood too. This may be the first thing I have ever agreed with AOC about. :LOL:
It takes about 2 minutes in any trading group, chat room, etc to discover multiple major complaints about robinhood functionality and otherwise. Dont understand why anyone uses them when the solid brokers are all commission free too
 

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20210128_173947.jpg


Women.....
 

375 Ruger Fan

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Myself am doing bit of dealing.... changing my wood stock on my cz 550 jeff to its synthetic stock... :E Big Grin: :D Beers:

If the LOP isn't quite long enough, did someone short your stock? Asking for a friend.
 

Corey0372

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I saw where trading in the "Casino Stocks" was restricted this morning to "protect the little guy". Free market?
This is why, oddly enough, this whole ordeal was kind of a blessing. This showed so many people exactly how things work. So all those brokerage apps just decided to block the same handful of stocks huh? Or did someone direct them all to do it? I'd say the latter.
 

375 Ruger Fan

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Friday, January 29, 2021

Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe

Robinhood becomes the GameStop story’s main character.​

The tale of GameStop’s (GME) meteoric rise, its chaotic decline, and what happens next with the role of retail traders in the market, are narratives that have dominated the conversation this week.

And in the weeks ahead, it is unlikely this story will disappear from the market conversation.

But the whole episode has brought together so many themes, so many pundits, and so many different threads which explained in part — but not in whole — the “why” of the situation.

To a large extent, this still remains the case. An answer to the question “What’s up with GameStop?” is still not even remotely concise. This complexity had also prevented the narrative from identifying a character essential to any rich and enduring story: The villain.

Until Thursday, that is, when free trading app Robinhood answered the call.

As Yahoo Finance’s Ethan Wolff-Mann reported Thursday, Robinhood restricted trading in GameStop and other heavily-shorted names at the center of this week’s market storm. “In light of recent volatility, we are restricting transactions for certain securities to position closing only,” Robinhood said Thursday. The company added in a blog post that starting on Friday, it would limit the purchase of some of these stocks.

The company was not the only online broker to restrict action in some names: Interactive Brokers (IBKR) for instance, closed options purchases and suspended margin buying in a handful of stocks.

Yet Robinhood’s stated goals of democratizing finance while preventing the purchase of select, popular stocks appeared to expose the hypocrisy many believe sits at the heart of the global financial system. Which, as Wolff-Mann chronicled, resulted in politicians from the left and right alike piling on.

Some, like Rep. Alexandria Ocasio-Cortez (D-NY), singled out Robinhood by name on Twitter. Sen. Ted Cruz (R-TX) agreed with AOC’s statement, though it does not appear the two will be working together on this issue.

That two of the most diametrically opposed members of Congress can find common ground in beating up on Robinhood, however, tells you how universal this cause has become. And it appears tweets are not going to be the end of the discussion.

Sen. Sherrod Brown (D-OH), the incoming chair of the Senate banking committee, said in a statement: “People on Wall Street only care about the rules when they’re the ones getting hurt...It’s time for the SEC and Congress to make the economy work for everyone not just Wall Street. That’s why, as incoming Chair of the Senate Banking and Housing Committee I plan to hold a hearing to do that important work.”

It seems, then, that during Congressional hearings we all might soon learn more than we ever hoped to about market making and the role brokers play in the stock market. But until then, the most tangible drama remains in the per-share price of GameStop and other heavily-shorted names at the center of this week’s trading action.

On Thursday shares of GameStop fell 44%, and were halted no fewer than a dozen times for volatility. And shares of Bed, Bath & Beyond (BBBY), BlackBerry (BB), Express (EXPR), and AMC (AMC) all fell more than 35%.

The Dow and the S&P 500, meanwhile, gained just under 1%.

And with Friday’s session marking the end of the month — and huge amounts of outstanding options set to expire — all hell may break loose yet again.

Meanwhile, answering questions about what this all means are still speculative at best and oftentimes something far worse.

In a column published Thursday on Business Insider, Bespoke Investment Group strategist George Pearkes urged restraint in opining on what this episode means. Suggestions made earlier this week, such as the idea that male sexual repression is a part of this story, show how far awry the conversation has gone.

And while we remain far away from anything like a resolution to this saga, Thursday seemed to offer clarity on the question of who will the public blame for a market situation that’s spun out of control.

By Myles Udland, a reporter and anchor for Yahoo Finance Live. Follow him at @MylesUdland
 

Wheels

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What I would like to know is how many hedgefunds, including Citadel were able to get out of their short positions while the Reddit crew were forced out of the market.



As a side note in all this, my son was hacked at Robinhood and was trying to liquidate his positions so he could close out his account yesterday. DOGE was in his account and evidently the Reddit crowd was pumping it. Robinhood would not let him liquidate his DOGE. They came back later in the day and said he could resubmit the transaction at the current price. DOGE had lost 1/3 it's value by that time. This was not a ton of money but it sure seems like he should have standing. He is willing to jump into any class action at this moment. There may be tens of thousands if not hundreds of thousands ready to do the same. This could be a massive class action. Hope they get a sympathetic judge.
 

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When my 22 year old kid is giving me stock tips, I think it's about a clear a sign as one can get that equities are in a bubble.
 

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I find all of this negative Robinhood commentary laughable. 99% of the people making the comments are not equipped to make a properly informed decision/deduction based on what they know or don't . . . just as they aren't properly equipped to trade their stimulus checks on the platform (and generate a profitable long term outcome for themselves). I suggest they all stop being idiots, enjoy the 5x+ gain they have generated on GME (which should be illegal as it was born of a concerted effort to move the markets), and hope to hell that our new "big government" regime does not cook up some threshold for accreditation that would not allow them to make the trades in the first place, going forward. The squeaky wheel often gets the grease and, in this instance, the grease will not be good for the wheel. I could go on and on . . . what a joke.
 

shootist~

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Charles Payne, in a shouting match with Charlie Gaspero (sp) today on FOX Business:
Hedgefunds move the market too! TV interviews, plublished reports, emails to clients, etc.

Payne was long BlackBerry - one of the big movers -in part because the shorting was overdone. IMO, there is nothing wrong with the Hegies getting there clocks cleaned (by Retail Investors, et. al.) when they over cook a stock. Up or down.

As far as trading goes, I'm heavy in Cash while the swamp rats attempt to take down the economy. Had a great 2020, btw.
 

lwaters

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I'm heavy in cash also. Just waiting for the big sell off.
 

Areaonereal

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Interest rate at .60 drives this market looking for anything better in end form when inflation is 2.5 and above.
 

Donnstar

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Buying today!!! This is what you are referring to correct???

1611969163199.png
 
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mikecatt13

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This is why, oddly enough, this whole ordeal was kind of a blessing. This showed so many people exactly how things work. So all those brokerage apps just decided to block the same handful of stocks huh? Or did someone direct them all to do it? I'd say the latter.
The people that are educated in trading already know/knew how it worked. Institutions trade positions big enough that it moves price, it's just the way it is.
 

Wheels

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..... (which should be illegal as it was born of a concerted effort to move the markets),.....
1.

A. A hedge fund manager buys up a massive short position. Encourages his buddies to do the same. Then goes on CNBC and touts how pathetic the company is to drive the price down, so he and his buddies can make a nice profit.

B. An ordinary Joe finds a company in a dying industry niche with a decent amount of cash to weather a storm. Finds that hedge funds have shorted the stock to the tune of 140%. He goes on Reddit and shows the crowd that the hedge funds have screwed up royally and if they drive the stock up they should have a good profit.

Why is it ok for the hedge fund manager to do "A", but not the ordinary Joe to do "B"?

......99% of the people making the comments are not equipped to make a properly informed decision/deduction based on what they know or don't . . . just as they aren't properly equipped to trade their stimulus checks on the platform (and generate a profitable long term outcome for themselves). I suggest they all stop being idiots, enjoy the 5x+ gain they have generated on GME .....

2.

Will much of the Robinhood crowd loose money long term? Possibly. Don't they have the right to make financial decisions for themselves even if they might be wrong?

The government encourages the poor and working class to buy lottery tickets and gamble. At least the stock market is more than zero sum since there is a long term upward trajectory with it.

....and hope to hell that our new "big government" regime does not cook up some threshold for accreditation that would not allow them to make the trades in the first place, going forward. The squeaky wheel often gets the grease and, in this instance, the grease will not be good for the wheel. I could go on and on . . . what a joke.

3. "Accredited Investor" is such a joke. Regulation is a way of limiting access to those that don't have the ability fight it. Regulation always helps those already in the system to limit competition.

You are probably correct, government regulations will probably be enacted to stop this type of things and further protect the elite from the prototeriate.
 

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