Stocks - The Best Buys 2

[CroFlames]

AOC is a friend of the little guy. I mean I'm Canadian, but it's nice to see.

These stall and halt tactics are scaring folks and giving hedgies time.

I hope paper handers and diamond handers alike harden their resolve and we hold hold hold.

We need rocket and diamond emojis.

[PsYcNeT]

Originally Posted by TorqueDog

Unity!

https://twitter.com/user/status/1354830697459032066

https://twitter.com/user/status/1354833603943931905

Ice. Cold.

https://twitter.com/user/status/1354848253729234944

[CroFlames]

Originally Posted by PsYcNeT

Ice. Cold.

https://twitter.com/user/status/1354848253729234944

Spoiler!

[TorqueDog]

Okay I have to stop watching this insanity or I'll get nothing done today. But it's amazing. As the Mooch said, "We are witnessing the French Revolution of Finance".

[CroFlames]

I bet it woulda hit $1000 today if RH didn't pull these shenanigans and scare people.

It was almost $500 in premarket.

[PsYcNeT]

Uhhhh this doesn't look like margins

[agulati]

Holy ####, is this real? That too at the lowest price it hit today.

[DoubleF]

I'm so pissed off at myself. I successfully and diligently stayed away from the meme stuff for most of the week and even stayed away from stock watching and rejigged my portfolios into undervalued industries.

But I finally caved and put some orders in with some mad money ready as a gamble. I'm holding some red Kodak and Nokia and so mad at myself that I let myself get sucked in. I also hold Blackberry, but I've had it even before WSB targeted it because I liked what I saw with their reorg. I am kicking myself for not cashing out yesterday.

[1_Flames_Fan]

Looks like I'm late to the fun on this one. But please post when the next ride happens. I'm interested in throwing some walking around money in if I can score some $$$ :-)

[Cecil Terwilliger]

Originally Posted by DoubleF

I'm so pissed off at myself. I successfully and diligently stayed away from the meme stuff for most of the week and even stayed away from stock watching and rejigged my portfolios into undervalued industries.

But I finally caved and put some orders in with some mad money ready as a gamble. I'm holding some red Kodak and Nokia and so mad at myself that I let myself get sucked in. I also hold Blackberry, but I've had it even before WSB targeted it because I liked what I saw with their reorg. I am kicking myself for not cashing out yesterday.

If there is one thing I've learned from reddit, this will only encourage them more. I fully expect all the targeted stocks to blow up again.

They don't strike me as the "oh well we tried" type crowd.

[ComixZone]

...watching all of this unfold is something else. This is disgusting.

[Fuzz]

How is RH exposed? Does RH do something different than you deposit money, invest that money, and sell?

[CroFlames]

Originally Posted by 1_Flames_Fan

Looks like I'm late to the fun on this one. But please post when the next ride happens. I'm interested in throwing some walking around money in if I can score some $$$ ��

There is no next one.

This GME thing is really unique. All the other stocks like BB, NOK, AMC etc were just pump and dumps, and many were being pumped by bots to try and distract from GME. I would stay away from all those until #### settles down with GME. Just IMO.

GME is the battleground with hedge funds. The shenanigans that were pulled this week by funds, brokers, heck the SEC, prove they are scared. If we all by and hold, we can win.

[agulati]

Originally Posted by Fuzz

How is RH exposed? Does RH do something different than you deposit money, invest that money, and sell?

Margin accounts exposure might be their risk?

[DoubleF]

Originally Posted by Cecil Terwilliger

If there is one thing I've learned from reddit, this will only encourage them more. I fully expect all the targeted stocks to blow up again.

They don't strike me as the "oh well we tried" type crowd.

I'm probably going to throw a little bit of money at the 50/50 for the game ignore everything for 24 hours and then call my losses tuition. Every once in a while I need to remind myself with a real bet that my slow and steady method is the right way to go. A small fee to sober second thought any future FOMOs.

[Cecil Terwilliger]

Originally Posted by Fuzz

How is RH exposed? Does RH do something different than you deposit money, invest that money, and sell?

i posted above how Canadian brokerages could be exposed. I wonder if RH is the same.

Apologies in advance if I mess up any details but the general idea is 100% true or at least was when I worked in the industry up until about 2 years ago.


Lets say someone saw the hype at 8pm on Monday when GMC was $5/share. They posted a market purchase order that minute for $5k using all the cash in their account.

The next morning, due to after hours trading, the stock opens at $25/share. Instead of rejecting the trade or partially filling it, the canadian brokers will just overdraw your account, even if you do not have margin trading enabled.

So now that guy's purchase for 1000 shares at $5 each for a $5k purchase just turned into a $25000 purchase for those same 1000 shares. They always base your purchase on the shares requested, not the $$ in your acct.

His account is now at -$20000 and he's being charged 20% interest on the money. His online broker could have, I think, just rejected the trade or only partially filled it but they hold him to that contract and if he doesn't pay they will come after him and file a judgement/collection for the money.

Now imagine that happened to 500,000 people on the same platform who all didn't know how market prices worked when buying stock. The broker could be exposed for millions and millions in uncollectable losses.

[PepsiFree]

Originally Posted by CroFlames

There is no next one.

This GME thing is really unique. All the other stocks like BB, NOK, AMC etc were just pump and dumps, and many were being pumped by bots to try and distract from GME. I would stay away from all those until #### settles down with GME. Just IMO.

GME is the battleground with hedge funds. The shenanigans that were pulled this week by funds, brokers, heck the SEC, prove they are scared. If we all by and hold, we can win.

NOK especially and BB are interesting long plays, you're probably fine getting in now that they've dipped.

But yeah, nothing is going match GME in short-term trajectory.

To the poster who is mad about putting in on NOK because he lost a little bit... it's a day... give it time. Give it a year.

[Table 5]

If I was Etrade or any other broker right now not participating in this blockage, I'd be cranking that marketing machine to 11.

[Ashasx]

Originally Posted by Cecil Terwilliger

The next morning, due to after hours trading, the stock opens at $25/share. Instead of rejecting the trade or partially filling it, the canadian brokers will just overdraw your account, even if you do not have margin trading enabled.

Can they really do this?

[Krovikan]

Originally Posted by Ashasx

Can they really do this?

Market buys are really risky, and the order systems may not (and probably don't, and you wouldn't want them to) have access to you account balance.

edit: they may not even be the same company

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