Is the stock market going to tank?

[Timberridge]

Based on support/resistance horizontals on the daily chart.

Charts, schmarts. Did y'all look at the Apple stock chart in 1983 and say, "Fuck no, 8 bucks is too expensive, I'm waiting for the dip?" You buy this shit and hold it till they pry it from your hands.

[rod9301]

Charts, schmarts. Did y'all look at the Apple stock chart in 1983 and say, "Fuck no, 8 bucks is too expensive, I'm waiting for the dip?" You buy this shit and hold it till they pry it from your hands.

Yeah, but apple had a good product and gme has nothing.

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[shera]

Charts, schmarts. Did y'all look at the Apple stock chart in 1983 and say, "Fuck no, 8 bucks is too expensive, I'm waiting for the dip?" You buy this shit and hold it till they pry it from your hands.

Can't argue with that! Unfortunately I am a dirty rotten market timer and trader at heart. I do have goal to get as much GME as I can and hodl for the long term, same as bitcoin. I didn't start with that opinion, but the fundamentals get better and better, so I am happy to go with the flow.

[CovertM]

Can't argue with that! Unfortunately I am a dirty rotten market timer and trader at heart. I do have goal to get as much GME as I can and hodl for the long term, same as bitcoin. I didn't start with that opinion, but the fundamentals get better and better, so I am happy to go with the flow.

The "rational" fundamental bull case for GME had a PT of $160ish IIRC. gmedd.com (Lee helped on this I think)

What fundamentals have gotten better to warrant buying in the mid $200s? I totally understand a YOLO play and believe that shenanigans will happen the rest of the year with the Memesphere. But if you truly believe in GME as a long term buy and hold, I don't see how you can warrant buying at these prices. Unless you are extremely confident in lowering your CB over time.

Hindsight being 20/20 I wish I would've loaded up again when it dipped back to $40s. Alas, coulda, shoulda, woulda...I am content with how I played GME from last year to early this year. And yes I will have FOMO if it moons to $100K

[JimmyCarter]

A very good friend of mine is a fund manager (last 15 years or so) for BlackRock and we were recently on a spring ski trip together. It was amazing to hear the story of their rise to the largest asset manager in the world from essentially a small bond shop. It is staggering how much they manage, more than double the 3rd largest and over a trillion more than Vanguard (#2).

So yeah, if they want to buy houses...they can buy some fucking houses.

heh...my good friend was ALSO a PM for BlackRock before he jumped to Millennium and then left to start his own hedge fund /family office.

The scary thing is, even at eleventy kajillion dollars in AUM, they still only have single digit (or maybe it's in low double digits by now) market share.

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[shera]

See that's the thing, I did load up at $40 and sold into the prev big runups. I'm playing with free money at this point, just making some swing trades trades with maybe 5% of my stash. It's hard to resist.

As for the fundamental value, I'm no Buffet but I can see the writing on the wall. This company has turned the corner and has an exciting future, imo. Maybe the updated morningstar rating gives you the data you're looking for? They are saying fair value is $315.



edit, you're asking how I can buy at 225? Well I just sold at 338, I'm doing ok on the numbers. Buy low, sell high, that's my motto! :P

[CovertM]

See that's the thing, I did load up at $40 and sold into the prev big runups. I'm playing with free money at this point, just making some swing trades trades with maybe 5% of my stash. It's hard to resist.

As for the fundamental value, I'm no Buffet but I can see the writing on the wall. This company has turned the corner and has an exciting future, imo. Maybe the updated morningstar rating gives you the data you're looking for? They are saying fair value is $315.



edit, you're asking how I can buy at 225? Well I just sold at 338, I'm doing ok on the numbers. Buy low, sell high, that's my motto! :P

Can't argue with smart trades, buy low sell high is the name of the game. Neither of us, nor Morningstar for that matter, can predict the long term future value of GME. Agreed, it's exciting to see what happens, that's why I'm holding a handful for funsie. But making the argument to keep buying at this price for long term value and talking about swing trading price movements are two different things IMO.

Good luck and I hope it keeps going in your favor, along with everyone else.

[cantspin]

Good luck. I just bought at $225 and it's still dropping. I see $220 as a support area on the chart...

Fair buy, the landmark resistances are powerful for meme shit like gme imo I think 200 is a big pivot point will load up some more at like 205 and ditch if it gets under 190.


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[rod9301]

Gme is trading at 7x sales for s company that has no ip.



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[ötzi]

uh, I don't pay much attention, but isn't Gamestop still just renting games from storefronts?

[m2711c]

[BobMc]

You'll never turn $800 into a billion that way Bob.

I don’t need a billion, I just like a free lunch now and then. Don’t see anything enticing on any of my 100+ shares stocks for a free one tomorrow.

I love XOM dividend day, picked up 4.21 shares today. BBBY and CCL both sunk today making my calls less in the red. Gonna let that BBBY call ride till July 9th hoping to keep all of the $500, if my CCL gets $100 in the green I’ll buy to close.

[VTeton]

Based on support/resistance horizontals on the daily chart.

The idea of looking at charts for support on GME is fucking assenine!!!!!

Seriously, read WSB if you are looking for any support/resistance....

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[BobMc]

uh, I don't pay much attention, but isn't Gamestop still just renting games from storefronts?

Yeah, but they are “turning the corner.”



The market does what it does and creates it’s own reality but you have to think IRL regains at some point?

Edit: Don’t get me wrong, I can appreciate a new management team for a business. That was the reason I bought BBBY and GE. I was happy to watch the team turn around the companies, I’m up 35% on GE and 400% on BBBY. The latter is also due to the GME phenomenon, was trading at 25-27ish, still up well mind you. To think that GME suddenly went from a $20 stock to $300+ with a management change seems kinda optimistic. Obviously it happened, but time will tell whether it’s true.

Edit2: Surprised I hadn’t seen it mentioned, they also announced an additional round of share selling, 5 million more shares, 7% dilution. Feels like the AMC cash grab, attack of the hedge funds round two? If internet folks were sending shares of my company soaring I ‘d probably sell more shares too.

[VTeton]

Can't argue with that! Unfortunately I am a dirty rotten market timer and trader at heart. I do have goal to get as much GME as I can and hodl for the long term, same as bitcoin. I didn't start with that opinion, but the fundamentals get better and better, so I am happy to go with the flow.

Fundamentals and GME in same sentence....

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[LeeLau]

Gme is trading at 7x sales for s company that has no ip.

I am a GME long but agree with Rod. My contribution to gmedd.com was the part about clearings for short sales. I feel a justifiable fair value for GME if they execute flawlessly is between 90 to 120.

But add cult status which multiplies that 2 to 3x.

[BobMc]

Is that what is what is known as a “fundamental?”

[shera]

I've also been buying INTC for similar reasons, change of management and the semiconductor situation. They actually do fab and it seems we will be ramping up here in the homeland, maybe help coming from the govt? Price just going sideways like my ARKK and ARKX positions but I guess that gives me time to accumulate. Kinda annoying though.

I don't have any skills to evaluate fundamentals, just some practice looking at bitcoin price chart and some risk management learned from playing a lot of poker tournaments. Feels so shady to be saying that, hahaha. You are all legitimate investors and I'm just trying to build a stack.

I guess a common denominator for me is the leadership. Whether it's Cathie Wood or Elon Musk or Ryan Cohen. I guess that's what I'm buying? Maybe that also plays into this network effect that LeeLau says is worth 2-3x...in crypto it's worth a LOT more than that, hehe, it is everything to a decentralized system.

[californiagrown]

What are people's YOLO retire early full on gamble stocks? Ive been accumulating a few thousand shares of First Cobalt for a few months now. Ill probably never put in more than a pair of skis+bindings cost, but im just licking my chops at the "what if". they own the only permitted cobalt refinery in North America, and a bigass mine in Idaho. Most cobalt for batteries comes from congo and china which all have issues, so maybe shit happens that shifts cobalt production domestically (yes i consider canadia domestic). Spinning that wheel, hoping to land on green!


Anyone else have halfbaked penny stocks theyve bought into for the what-if?

[406]

I've had a few I thought it seemed like really good ideas and they all flopped. Energy drink that mellows you out, train from LA to Vegas, cyborg type technology, converting plastic to fuel...few that I can think of, I'm of the opinion OTC is a scam.

[shera]

Fair buy, the landmark resistances are powerful for meme shit like gme imo I think 200 is a big pivot point will load up some more at like 205 and ditch if it gets under 190.


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Oh man that's a tight range, and now in the thick of it. What are you doing?

I put some money selling weekly 210P on GME just now. Let's see if it hits

I guess you're buying dinner then?

[LeeLau]

My Yolos. RIOT, MKTY, BB, GMTN on VSE/CDNX of course GME

[cantspin]

Oh man that's a tight range, and now in the thick of it. What are you doing?



I guess you're buying dinner then?

Watching gme today looks promising to me in the short term. I would bet it doesn’t break that 190 so I’ll probably buy a couple shares dollar cost averaged.

Any thoughts on what I should do with my tsla bag??? Been holding since before the split and idfk if I should get out or hold for life. Might just half my position because I’m scared hahaha


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[cantspin]

Looks like a good eth entrance under 2400


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[shera]

On May 25 there's a monster green candle on GME daily chart. I guess the 50% level of that candle is a place traders would be testing. That's right about at your target level. Good eye!

I am so jealous of your tsla position! I bought in the low 200s, presplit and sold it all with nice gains, still presplit. Then I was crying when it did a 10x. It has forever left a mark on me even though I've made it all up in bitcoin. I decided to try to be a hodler and am getting shellacked on link currently, hahaha. Well I am up 2x, but I was up 5x, sigh.

Moral of the story, I suppose, is to take partial profits! I manage my bitcoin very carefully, basically rebalancing and am satisfied with that.