Current Events > Stock Market General #4

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DJquackquack
01/27/21 1:47:06 AM
#205:


ZMythos posted...
it all depends on what it's worth at the end of the year.

If you made $400 profit on that stock and reinvested it, you still need to claim it on your taxes, even if you lost out on the reinvestment.

So let's say you sell Stock A for $500 and reinvest in Stock B. Stock B does poorly and you pull out at $450, a $50 loss.

You still need to claim $400 on your taxes.

At least that's how I understood it.
Only if you make over $25,000 a year in your secular employment, otherwise you dont have to pay capital gains tax.

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samurai bandit
01/27/21 1:48:21 AM
#206:


RIP. Account verification takes 2-3 days so that I can start buying GME. Hope it goes through faster than that or I wont be able to join the GME train before Friday

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SCCAN85
01/27/21 1:53:34 AM
#207:


I'm all in for the ride. Is it wise to buy more shares? I'm in at $70. If I buy more shares at $210 I feel like that is dumb. But not if it goes to $1000. I feel dumb, maybe I do belong on wsb lol. Either way I'm not selling.

That DFV guy on reddit is a legend

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#208
Post #208 was unavailable or deleted.
CableZL
01/27/21 3:38:26 AM
#209:


Got about $360 in dividends. A bit less than I was expecting, but I'll take it!

I think some of the shares I bought settled after the cutoff date.

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NeonOctopus
01/27/21 4:08:10 AM
#210:


This whole GME thing is basically just a game of chicken, right? >_> If too many people start panic selling and it snowballs, the whole thing falls apart?

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#211
Post #211 was unavailable or deleted.
DJquackquack
01/27/21 4:17:42 AM
#212:


NeonOctopus posted...
This whole GME thing is basically just a game of chicken, right? >_> If too many people start panic selling and it snowballs, the whole thing falls apart?
Yup.

But then again, that could be said for any stock.

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#213
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DJquackquack
01/27/21 4:28:41 AM
#214:


RedWhiteBlue posted...
My dad and brother were like "OMG U COULD BE MAKING MONEY SITTING AT HOME UR WASTING THE OPPOTUNITY!!!"

And I'm like "except now that everyone knows it won't last, and everyone is gonna sell before it hits the goal like it did to crypto. It's too late for gme specifically. Meme power and quick money like this are trains you hop on before the wall is in sight."

But they were like "BUT U DONT KNOWWWW"

Invested a bit into amc and bb. Not gonna do gme unless it drops substantially tomorrow morning.
Thats exactly why I went with AMC over GME too. For those that got in early on GME, more power to em, but I dont feel like jumping aboard an already overcrowded ship.

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#215
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DJquackquack
01/27/21 4:31:28 AM
#216:


jeffhardyb0yz posted...
Up at 4 am, walking to work and all I can think about is the market today. Shits bonkers
Are you a writer for SNL?

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darkprince45
01/27/21 5:22:38 AM
#217:


Fuck, amc went up 7 bucks when I checked this evening

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NeonOctopus
01/27/21 5:22:58 AM
#218:


AMC @ 12
GME @ 300

Jesus

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NeonOctopus
01/27/21 5:42:35 AM
#219:


Robinhood is having maintenance right now >_>

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#220
Post #220 was unavailable or deleted.
NeonOctopus
01/27/21 5:50:10 AM
#221:


I only got 10 shares in AMC >_> I guess I should buy more after opening

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NeonOctopus
01/27/21 5:54:31 AM
#222:


I checked GME 2 minutes ago and it was 340. I went to the bathroom checked again and it was 350

bruh

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#223
Post #223 was unavailable or deleted.
GoriIIa
01/27/21 5:59:25 AM
#224:


346 for Gamestop... I cant sleep

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NeonOctopus
01/27/21 5:59:37 AM
#225:


I'm just worried that GME is getting too much attention and too many people might panic sell and fuck it all up. This has to last 3 whole days.

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DJquackquack
01/27/21 6:04:23 AM
#226:


NeonOctopus posted...
I'm just worried that GME is getting too much attention and too many people might panic sell and fuck it all up. This has to last 3 whole days.
I just dont want it to negatively effect (affect?) AMC somehow if they do.

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NeonOctopus
01/27/21 6:04:46 AM
#227:


Plus this whole situation kinda reminds me of the Prisoner's Dilemma from psychology >_>



Basically if everyone stays silent (aka holds) we all make out. But technically the theorical "right" move in Prisoner's Dilemma is to always betray >_> Cuz the average outcome is better for the individual (only serve 0-2 years instead of 1-3 years). I think people might betray (aka sell) before GME spikes and fuck it all up.

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#228
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GoriIIa
01/27/21 6:24:27 AM
#229:


https://twitter.com/hetorresjr/status/1354388011346255872?s=21

Not sure what to make of this. CNBC has been historically covering up for the Hedge funds, right? This is a last ditch to get us to sell?

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NeonOctopus
01/27/21 6:29:25 AM
#230:


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#231
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NeonOctopus
01/27/21 6:39:36 AM
#232:


GME went down to 245 now lol

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Despised
01/27/21 6:56:18 AM
#233:


Guys I'm awake
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Ps2Twilight
01/27/21 7:07:15 AM
#234:


NeonOctopus posted...
Is this real? >_>

https://twitter.com/andrewrsorkin/status/1354387252831543297

Apparently they're pushing out a fake narrative to drive the stock price down.

Can't believe it was over 300 lol. The rest of the week is going to be wild

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lilORANG
01/27/21 7:14:28 AM
#235:


I think we should be concerned that a subreddit can manipulate the market so easily. Our economy is a bit of a paper tiger.
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#236
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Flaming_Fire619
01/27/21 7:21:43 AM
#237:


lilORANG posted...
I think we should be concerned that a subreddit can manipulate the market so easily. Our economy is a bit of a paper tiger.

I mean, this was sort of the perfect situation where a bit of a meme stock ended up being way too shorted, but I also can agree with this. Really what is to stop this from happening all over again with the next super low stock and have a concerted effort to buy it all?

This is the main reason why I think there might be regulation coming. A concerted effort of a group (and not a small one0 with access to a large forum to plan this out and essentially work together to manipulate stock value is not something I think the exchange can take happening multiple times. It really just shows how arbitrary stock value is. I don't know what regulation is coming, but I could very much see some form of limitation on shorting now

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xXfireglzXx
01/27/21 7:23:31 AM
#238:


lilORANG posted...
I think we should be concerned that a subreddit can manipulate the market so easily. Our economy is a bit of a paper tiger.

I've honestly had the George Carlin quote stuck in my head since this whole thing transpired. There's too many of us "normies" getting in on this racquet for us not to get regulated out sooner rather than later. Eventually, those in the club will build a new gate. We are not wanted at the table, so it's in everyone's best interest to take advantage of the circumstances now while they remain favorable.

With that said, AMC to the moon pls.

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#239
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emblem boy
01/27/21 7:26:03 AM
#240:


Lol wtf. Amc above $10
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Vigrim
01/27/21 7:27:36 AM
#241:


GoriIIa posted...
https://twitter.com/hetorresjr/status/1354388011346255872?s=21

Not sure what to make of this. CNBC has been historically covering up for the Hedge funds, right? This is a last ditch to get us to sell?
Fake news, nowhere near enough volume. Just a scare tactic, illegal one at that.

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DJquackquack
01/27/21 7:32:31 AM
#242:


jeffhardyb0yz posted...
@
Nope, but I work for the show
Still awesome. Rock on bro.
@jeffhardyb0yz

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emblem boy
01/27/21 7:37:43 AM
#243:


All the brokerages are gonna be down at open, you just know it
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#244
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Lebronwon
01/27/21 7:45:13 AM
#245:


I'm not sure how to even play AMC. Is it really the next GME and we should hold through the next day? Or sell at open?

The stock is already up 150%. So no way there isn't a massive sell off when market opens.

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#246
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emblem boy
01/27/21 7:49:19 AM
#247:


Apparently it's not true that they've gotten out of their shorts. Fucking hedge funds
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Propane4Sale
01/27/21 7:53:06 AM
#248:


Lebronwon posted...
I'm not sure how to even play AMC. Is it really the next GME and we should hold through the next day? Or sell at open?

The stock is already up 150%. So no way there isn't a massive sell off when market opens.

If not for COVID, AMC would still be thriving so that stock has realistic potential. Buuuuuutttt I'd say if you can't help it and don't give a shit about short term tax, sell 25% or half and keep the rest.

Gamestop is 100% a pump and dump meme. Staying the fuck away from that imo

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The Trent
01/27/21 7:55:13 AM
#249:


down like 4k in the premarket leggo

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#250
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Lebronwon
01/27/21 8:04:20 AM
#251:


shockthemonkey posted...
AMC up to $15, I wanna take my money and run someone convince me to stay in

Its up to $17 now and in the same situation. Every other stock except GME, BB, and AMC is down in premarket for me. So I'm thinking it gonna be a red today. Cash out see if there is a dip because there is no way a lot of people dont hop off the meme when market opens.

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whitelytning
01/27/21 8:15:52 AM
#252:


Is AMC a meme stock?

I bought 100 shares at $4 something on Monday and was planning on holding for a few years until the stock came back after they announced getting all that extra funding. What is going on today that its up so much? Might sell to rebuy when it corrects.

I have 15 shares of GME at around $90 that I'm obviously sweating a bit. I had 50 shares at $20 and sold in the $40s. Bought again in the low $40s and sold in the $60s and then dropped to only 15 shares at $90...I may sell again today to lock in some gains because once the squeeze happens its going to drop like crazy. The markup on puts is insane.

I also bought 15 shares of AMD at 88 and 2x 100 calls two weeks ago playing the earnings. Was happy to see good earnings but need the stock to take off now. Futures don't look good for the general market but hoping for the best for GME and AMD at least.


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SolidShadow3
01/27/21 8:31:42 AM
#253:


Legit cant get my AMC shares filled.

Trying to get 19 in at $15.04, but it never gets filled. Been up for almost 20 minutes now.

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CE_gonna_CE
01/27/21 8:32:07 AM
#254:


shockthemonkey posted...
AMC up to $15, I wanna take my money and run someone convince me to stay in
Although I expect there could be a drop from $15, Ill be holding my call options through the day.

I only have $150 in on this, so play at your own risk depending on how much $$ you have in.

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