School me on investing...

Still enjoying options debit spreads over here.

 

Read an article this week that the Russian mob figured out a scam for california covid unemployment checks. They robbed em of 9 BILLION dollars. Cali had to hire a firm for half a mil just to find out exactly how much $ they stole.

 

https://finance.yahoo.com/news/30-y...ay-be-in-a-stock-market-bubble-173923372.html

 

That's alright...we sold every bit of our Papa John's yesterday. We're betting on recovery items such as airlines and betting...been doing OK with Draft Kings so far.

 

Every fund manager wants to be the one to call the top, same story as its always been. They've been banging this drum the day after QE started post-'08 crash.

 

Here in Washington State the Nigerian scammers took an unknown amount of unemployment funds as well... estimates range to over $1 Billion... The woman who headed the department and was responsible for the debacle has since been promoted to a post in the new administration in DC.

 

Any of you guys watching what is going on with Game Stop? Its very entertaining

 

Yeah, my wife has a friend that does nothing but trade and she told her a couple months ago that this would be a hot stock. Of course we didn’t buy. I could have retired.

 

Sorry, I call bullshit, nobody could've predicted this months ago. This is literally just dudes on a forum trying to gang up against firms who have huge short positions to make them lose huge amounts of money. There's no value in the stock, it's just a short squeeze, driven by Reddit.

 

Palantir Live Demo Day is on in about 15 minutes... I'm looking to see if the cloak & dagger stuff is real and the crazy valuation is justified. Peter Thiel generally is dead on with all he does (political views notwithstanding)...

 

If she knew about this she is probably retiring at the end of the week.
I find this prety interesting, and I think the word is spreading, wonder how high it will get before its over.

 

I was wrong about a couple of months.
It was within the last 4-6 weeks. We typically don’t jump on the next hot thing and this is one we lost on. I was at my nieces wedding in October and one of her bridesmaids works on Wall Street. I begged her to give me a hot tip and she gave me Fulcrum Technologies. I bought about $5K worth and it’s now worth $5,700. Wow, what a hot tip. But this friend of my wife told her about Game Stop when it was at $39. My wife keeps track of this stuff.

 

$39 is high even. Price targets are $11-20.

This is literally just war against short sellers, using GME as a chip.

https://markets.businessinsider.com...s-reddit-traders-citron-gme-2021-1-1030000080

 

And when the money stops flowing into GME...talk about a drop. Thats the top I would like to know about.

God "GME starts dropping in 3 weeks..."
Me "Thanks Bro. Ill buy so many Puts on that thing theyll close the market"
God "Just dont blow it all on strippers and blow. Or ill see you in a 6 weeks."
Me "No way bro. Just gonna wet my beak a little"
6weeks later in heaven

God "told you so"
Me "at least the strippers & blow was fun"

 

Game stop said hold my beer.

 

GME holy hell! Woke up this morning, checked the price.... time to sell. Schwab account is crashing, won't load, can't sell. Finally got my order in. Crazy stuff.

 

Just unbelievable. So glad I'm not paying money into that state any longer.

 

AMC was up 400% at opening today.

 

So yeah... my portfolio is + 117% in the last 4 days

My AMC average is 3.32 LOL.... BUY THE DIP!

This GME thing has become a cultural thing, not just about GME price, now its a David (us people) vs. Goliath (Melvin and wallstreet) ... epic battle! I cashed out Monday with mega profits, and jumped back in this morning.

I saw some math that said with GME where it is, every $11.50 it goes up, Melvin loses $1 billion. :O

 

My Schwab account is completely crashed, so I'm either missing out on some nice profits or some nice losses