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I don't need brokerage firms making financial decisions for me or "protecting" me. A crime was committed today, and people should go to prison.

(01-28-2021, 06:40 PM)EricC85 Wrote: [ -> ]I said it [BLEEP] it last night made a Robinhood account and put $30 in Nok before they cut off trading and like $10 in some cryptocurrency called dogecoin. If it all tanks no loss but if it raises a little it’s like winning a scratch off lol.

I created an account as well.  Fell short of linking one of my accounts. So I didn’t buy anything. Add in RH and others doing what they’re doing, I’m going to hold off.  Wife and I both have an IRA.  Full disclosure, I’m not into “stocks”. I equate those to a savings account with better interest.   I could be so far off base. Someone that knows better please do inform me.  I started a 401 because I was told to for retirement reasons from my parents.  Wife works at a real company that matches and stuff.  That I understand.  My money plus your money plus the market.  It’ll grow. Mine, is just my money and maybe 10% a year.  Perhaps that good.  But just doesn’t seem like a lot. But if RH allows the trading after lawsuits and Reddit people keep doing this, I may chime in.  I’ve got a decent amount I’m ok losing if it happens to go that way.  If this becomes a trend I’m in and if RH will allow it.  Am I wrong here?  I know JIB is calling it “gambling”.  IMO, I can make more at the poker than my 401k.  Some advice please.

(01-28-2021, 06:31 PM)HURRICANE!!! Wrote: [ -> ]

(01-28-2021, 05:41 PM)flsprtsgod Wrote: [ -> ]This isn't chasing a stock, this is a concerted effort to set it on fire.

Exactly.  This was extremely well calculated by finance/math gurus that are much smarter than any of us.

Also, jag has no proof that "VERY seldom is day trading successful".

I'm not going to do the research for you.  The fact of the matter is that day trading is a fool's game.  Do what you want with your money/401k.  If these guys on Reddit and other platforms are such "finance/math gurus" they probably wouldn't be hanging out on Reddit giving out stock advice.

(01-28-2021, 06:54 PM)StroudCrowd1 Wrote: [ -> ]I don't need brokerage firms making financial decisions for me or "protecting" me. A crime was committed today, and people should go to prison.

Exactly what "crime" was committed today that should cause people to go to prison?  By the way, hows that Carnival stock doing?

(01-28-2021, 07:16 PM)jagibelieve Wrote: [ -> ]

(01-28-2021, 06:31 PM)HURRICANE!!! Wrote: [ -> ]Exactly.  This was extremely well calculated by finance/math gurus that are much smarter than any of us.

Also, jag has no proof that "VERY seldom is day trading successful".

I'm not going to do the research for you.  The fact of the matter is that day trading is a fool's game.  Do what you want with your money/401k.  If these guys on Reddit and other platforms are such "finance/math gurus" they probably wouldn't be hanging out on Reddit giving out stock advice.

(01-28-2021, 06:54 PM)StroudCrowd1 Wrote: [ -> ]I don't need brokerage firms making financial decisions for me or "protecting" me. A crime was committed today, and people should go to prison.

Exactly what "crime" was committed today that should cause people to go to prison?  By the way, hows that Carnival stock doing?

It is up from the time you made fun of it. Everything is black and white with you. No grey area. It was clear how much this thing was bothering you from the beginning based on all your posts whining about it. You come in here with this facade of someone with high morals yet brag about attending maskless super spreader events in the middle of a pandemic. Let the people have fun. They don't need a babysitter.

Robinhood just sent an email out saying they’ll allow limited buying. I do find the irony in the fact that an app called “robinhood” tried to stop what was happening.

(01-28-2021, 07:12 PM)Jags Wrote: [ -> ]

(01-28-2021, 06:40 PM)EricC85 Wrote: [ -> ]I said it [BLEEP] it last night made a Robinhood account and put $30 in Nok before they cut off trading and like $10 in some cryptocurrency called dogecoin. If it all tanks no loss but if it raises a little it’s like winning a scratch off lol.

I created an account as well.  Fell short of linking one of my accounts. So I didn’t buy anything. Add in RH and others doing what they’re doing, I’m going to hold off.  Wife and I both have an IRA.  Full disclosure, I’m not into “stocks”. I equate those to a savings account with better interest.   I could be so far off base. Someone that knows better please do inform me.  I started a 401 because I was told to for retirement reasons from my parents.  Wife works at a real company that matches and stuff.  That I understand.  My money plus your money plus the market.  It’ll grow. Mine, is just my money and maybe 10% a year.  Perhaps that good.  But just doesn’t seem like a lot. But if RH allows the trading after lawsuits and Reddit people keep doing this, I may chime in.  I’ve got a decent amount I’m ok losing if it happens to go that way.  If this becomes a trend I’m in and if RH will allow it.  Am I wrong here?  I know JIB is calling it “gambling”.  IMO, I can make more at the poker than my 401k.  Some advice please.

This is exactly why this stuff is so dangerous.  Far too many people see other people's claims of "I made 350% in 3 days" and see it as a quick way to make money.  It doesn't work that way.  Somebody may throw in $100 on a penny stock and see a huge run-up like this and suddenly the stock is worth $350 and they think "wow, what if I put in $1000 or $5000" and so on.  They do so because somebody on the internet claims that they did it and "made 350% profit".  It's pretty much the same as a gambling addiction.  The problem is that when the stock drops... and in the case of Gamestop, American Airlines and the others being bought like crazy is it's going to happen.  Those people are going to lose a lot of money.

It gets worse when people are "successful" at first then start getting greedy.  They might take out a loan or "invest" (bet) borrowed money or money that they actually need to survive.

If you want my advice, and I am by no means a professional, I would tell you to open an account at a regular reputable broker.  Depending on your age I would make it either a traditional IRA or a ROTH IRA account and actually do some research and invest for the future.  I would stay away from investing in single stocks and look towards baskets of stocks, either an ETF (which I invest in a lot) or a mutual fund.  Individual stocks are extremely risky.

To compound the problem even more, there are perhaps millions of people just like you that are "opening an account and doing what others are doing", even if it is small amounts.

People that gain significant wealth in the stock market don't do so in days, weeks or even months.  Anyone with that goal is not investing, they are gambling.

(01-28-2021, 07:26 PM)StroudCrowd1 Wrote: [ -> ]

(01-28-2021, 07:16 PM)jagibelieve Wrote: [ -> ]I'm not going to do the research for you.  The fact of the matter is that day trading is a fool's game.  Do what you want with your money/401k.  If these guys on Reddit and other platforms are such "finance/math gurus" they probably wouldn't be hanging out on Reddit giving out stock advice.


Exactly what "crime" was committed today that should cause people to go to prison?  By the way, hows that Carnival stock doing?

It is up from the time you made fun of it. Everything is black and white with you. No grey area. It was clear how much this thing was bothering you from the beginning based on all your posts whining about it. You come in here with this facade of someone with high morals yet brag about attending maskless super spreader events in the middle of a pandemic. Let the people have fun. They don't need a babysitter.

Aw... did I hit a nerve with our resident Trumpette?  Sorry snowflake, I didn't mean to offend you by mocking your idea that Carnival stock was a good buy.

I don't know what the "maskless super spreader" comment has to do with this discussion.

I'm not stopping people from "having fun" and not being a "babysitter", so I don't know what that babble is about.

So you never answered the question/  What crime was committed to cause people to go to prison?

(01-28-2021, 07:44 PM)jagibelieve Wrote: [ -> ]

(01-28-2021, 07:12 PM)Jags Wrote: [ -> ]I created an account as well.  Fell short of linking one of my accounts. So I didn’t buy anything. Add in RH and others doing what they’re doing, I’m going to hold off.  Wife and I both have an IRA.  Full disclosure, I’m not into “stocks”. I equate those to a savings account with better interest.   I could be so far off base. Someone that knows better please do inform me.  I started a 401 because I was told to for retirement reasons from my parents.  Wife works at a real company that matches and stuff.  That I understand.  My money plus your money plus the market.  It’ll grow. Mine, is just my money and maybe 10% a year.  Perhaps that good.  But just doesn’t seem like a lot. But if RH allows the trading after lawsuits and Reddit people keep doing this, I may chime in.  I’ve got a decent amount I’m ok losing if it happens to go that way.  If this becomes a trend I’m in and if RH will allow it.  Am I wrong here?  I know JIB is calling it “gambling”.  IMO, I can make more at the poker than my 401k.  Some advice please.

This is exactly why this stuff is so dangerous.  Far too many people see other people's claims of "I made 350% in 3 days" and see it as a quick way to make money.  It doesn't work that way.  Somebody may throw in $100 on a penny stock and see a huge run-up like this and suddenly the stock is worth $350 and they think "wow, what if I put in $1000 or $5000" and so on.  They do so because somebody on the internet claims that they did it and "made 350% profit".  It's pretty much the same as a gambling addiction.  The problem is that when the stock drops... and in the case of Gamestop, American Airlines and the others being bought like crazy is it's going to happen.  Those people are going to lose a lot of money.

It gets worse when people are "successful" at first then start getting greedy.  They might take out a loan or "invest" (bet) borrowed money or money that they actually need to survive.

If you want my advice, and I am by no means a professional, I would tell you to open an account at a regular reputable broker.  Depending on your age I would make it either a traditional IRA or a ROTH IRA account and actually do some research and invest for the future.  I would stay away from investing in single stocks and look towards baskets of stocks, either an ETF (which I invest in a lot) or a mutual fund.  Individual stocks are extremely risky.

To compound the problem even more, there are perhaps millions of people just like you that are "opening an account and doing what others are doing", even if it is small amounts.

People that gain significant wealth in the stock market don't do so in days, weeks or even months.  Anyone with that goal is not investing, they are gambling.

Thank you. And I am reminded now from your post I have a Roth IRA from when I was 18.  Ugh.  I guess I’ll just set up a meeting  with the financial advisor.  I don’t want to come off as an [BLEEP].  The Mrs and I’ve been fortunate.  The percentages im seeing in stocks just seem so small.  I literally could make more going back and playing poker again. ( I was a [BLEEP])  So, I guess with the excess and seeing returns on what I did, seems like investing for retirement is a slow process.  Perhaps I’m inpatient or too stoopid.   But I’ll just contact this guy and see what he suggests in our situation as it stands now.  I mean, if I put in 50k and saw 10% that’s only 5k back.  Yes 5k more than I had, but not the payoff I’d be wanting if I put 50k in.  Again, I could be way off base. Just trying to understand this all.

(01-28-2021, 08:07 PM)Jags Wrote: [ -> ]

(01-28-2021, 07:44 PM)jagibelieve Wrote: [ -> ]This is exactly why this stuff is so dangerous.  Far too many people see other people's claims of "I made 350% in 3 days" and see it as a quick way to make money.  It doesn't work that way.  Somebody may throw in $100 on a penny stock and see a huge run-up like this and suddenly the stock is worth $350 and they think "wow, what if I put in $1000 or $5000" and so on.  They do so because somebody on the internet claims that they did it and "made 350% profit".  It's pretty much the same as a gambling addiction.  The problem is that when the stock drops... and in the case of Gamestop, American Airlines and the others being bought like crazy is it's going to happen.  Those people are going to lose a lot of money.

It gets worse when people are "successful" at first then start getting greedy.  They might take out a loan or "invest" (bet) borrowed money or money that they actually need to survive.

If you want my advice, and I am by no means a professional, I would tell you to open an account at a regular reputable broker.  Depending on your age I would make it either a traditional IRA or a ROTH IRA account and actually do some research and invest for the future.  I would stay away from investing in single stocks and look towards baskets of stocks, either an ETF (which I invest in a lot) or a mutual fund.  Individual stocks are extremely risky.

To compound the problem even more, there are perhaps millions of people just like you that are "opening an account and doing what others are doing", even if it is small amounts.

People that gain significant wealth in the stock market don't do so in days, weeks or even months.  Anyone with that goal is not investing, they are gambling.

Thank you. And I am reminded now from your post I have a Roth IRA from when I was 18.  Ugh.  I guess I’ll just set up a meeting  with the financial advisor.  I don’t want to come off as an [BLEEP].  The Mrs and I’ve been fortunate.  The percentages im seeing in stocks just seem so small.  I literally could make more going back and playing poker again. ( I was a [BLEEP])  So, I guess with the excess and seeing returns on what I did, seems like investing for retirement is a slow process.  Perhaps I’m inpatient or too stoopid.   But I’ll just contact this guy and see what he suggests in our situation as it stands now.  I mean, if I put in 50k and saw 10% that’s only 5k back.  Yes 5k more than I had, but not the payoff I’d be wanting if I put 50k in.  Again, I could be way off base. Just trying to understand this all.

10% ROI is good and higher than you would most likely average in the market over time. Using your returns from the past 2 years as a barometer on what to expect in the future is not realistic IMO. If you are serious about investing, look into diversifying with real estate. With the looming housing market correction, there will be some good buys out there. Real estate provides cash flow,  appreciation, mortgage pay down, and tax write offs, all while owning a physical asset you can touch. Hard to beat. Check out Bigger Pockets books on real estate investing, and in particular rental property investing. Just a suggestion.

(01-28-2021, 08:25 PM)StroudCrowd1 Wrote: [ -> ]

(01-28-2021, 08:07 PM)Jags Wrote: [ -> ]Thank you. And I am reminded now from your post I have a Roth IRA from when I was 18.  Ugh.  I guess I’ll just set up a meeting  with the financial advisor.  I don’t want to come off as an [BLEEP].  The Mrs and I’ve been fortunate.  The percentages im seeing in stocks just seem so small.  I literally could make more going back and playing poker again. ( I was a [BLEEP])  So, I guess with the excess and seeing returns on what I did, seems like investing for retirement is a slow process.  Perhaps I’m inpatient or too stoopid.   But I’ll just contact this guy and see what he suggests in our situation as it stands now.  I mean, if I put in 50k and saw 10% that’s only 5k back.  Yes 5k more than I had, but not the payoff I’d be wanting if I put 50k in.  Again, I could be way off base. Just trying to understand this all.

10% ROI is good and higher than you would most likely average in the market over time. Using your returns from the past 2 years as a barometer on what to expect in the future is not realistic IMO. If you are serious about investing, look into diversifying with real estate. With the looming housing market correction, there will be some good buys out there. Real estate provides cash flow,  appreciation, mortgage pay down, and tax write offs, all while owning a physical asset you can touch. Hard to beat. Check out Bigger Pockets books on real estate investing, and in particular rental property investing. Just a suggestion.

Thanks for the advice.  I’ll talk to my guy.   If it makes more sense, my wife and I both were broke when we met. Went Dutch for a movie and used change in my truck to buy dollar menu afterwards on our first date. Fast forward 5 years and we’re in a different situation.  We thought we made it when we bought our house in the area we did. We also robbed Peter to pay Paul.  Fast forward another 15 and I’m just trying to figure out the best thing to do with the “excess” each year.  We both worked our butts off to get where we’re at and we both realize it’s not guaranteed we will be in this situation even next year let alone in ten or when we retire.  So I guess what I’m getting at is I feel we’re in a position to really better ourselves now if we played our cards right.  But we’re also looking at buying land for ourselves.  So, I’m thinking we may just talk to our guy and see what he says.  It’s tempting to “day trade/gamble” but I don’t know a damn thing about it.  This whole GameStop thing had me thinking.  But I don’t consider myself that dumb to try quite yet.

Billionaires winning the game "ah this is perfect, how it should be, keep the poor people poor."

Billionaires losing the game "ah this isn't right, stop everything, we have to change the rules right now!"

(01-28-2021, 08:53 PM)Eric1 Wrote: [ -> ]Billionaires winning the game "ah this is perfect, how it should be, keep the poor people poor."

Billionaires losing the game "ah this isn't right, stop everything, we have to change the rules right now!"

Welcome to the stock market as carefully built by Republicans and Democrats alike over the last 100 years.

Nothing happened with my small amount of Genius shares, but more good news about my penny stock that has done well Novavax. Novavax released results about their vaccine and I'm seeing reports that it's almost 96% effective against the original strain and 85% effective against the UK strain. I believe this is the first vaccine that has provided information about specific significant protection against the UK variant. The results for the South African variant are not as promising but this is really good news. This is another two shot vaccine but it can be stored at refrigerated temperatures which gives it an edge over vaccines like Pfizer. 

https://www.usatoday.com/story/news/heal...294584001/

Novavax also uses a more traditional method to create it's vaccine. The shares that were at $134 today have shot up to $170 per share in the afterhours. I still am holding onto a few shares, not a bunch, but I'm glad I still have them. I got in around $9, and my average cost is $18.16. This stock has already went over $180 before, and I believe it may hit $200 per share or better, once more news regarding the vaccine gets out and it's produced distributed.

I'm definitely interested in seeing how far this stock may trend up. It would be nice it hitting $200 per share isn't that far off.

(01-28-2021, 07:16 PM)jagibelieve Wrote: [ -> ]

(01-28-2021, 06:31 PM)HURRICANE!!! Wrote: [ -> ]Exactly.  This was extremely well calculated by finance/math gurus that are much smarter than any of us.

Also, jag has no proof that "VERY seldom is day trading successful".

I'm not going to do the research for you.  The fact of the matter is that day trading is a fool's game.  Do what you want with your money/401k.  If these guys on Reddit and other platforms are such "finance/math gurus" they probably wouldn't be hanging out on Reddit giving out stock advice.

(01-28-2021, 06:54 PM)StroudCrowd1 Wrote: [ -> ]I don't need brokerage firms making financial decisions for me or "protecting" me. A crime was committed today, and people should go to prison.

Exactly what "crime" was committed today that should cause people to go to prison?  By the way, hows that Carnival stock doing?

Responses to jagibelieve

1) The guys on Reddit aren't giving advice, they are colluding together to squeeze out the short sellers.
2) The crime that was committed was by Robinhood taking away users accessibility to buy GME and 12 other securities.  They were protecting the short sellers that make up a significant portion of their trading portfolio.  It's like not allowing Johnny to drive up the market price because they are trying to protect Alan from losing money.

You are obviously old school with your market opinions.  The times have changed and the market has been hot since April (after the crash).  Everyone has their strategies, which is fine, but you kind of have a grandpa's type vision of undermining the intellectual levels of our youth.  These kids are 10x smarter than we ever were at their age (and perhaps now) because we never had the incredible resources at our fingertips to educate ourselves according.

I know you like your 25% yield that you recognized in the past 6 months on Boeing but popular innovating companies like Tesla and Roku have seen their stocks up 400% during that same time period as are many others.  Heck, when Biden won, I just on weed, EV, and solar and already cashed in on those.  I do see an added 5-10% drop forthcoming so I may selloff and buy the dip in about a week.

(01-29-2021, 10:04 AM)HURRICANE!!! Wrote: [ -> ]

(01-28-2021, 07:16 PM)jagibelieve Wrote: [ -> ]I'm not going to do the research for you.  The fact of the matter is that day trading is a fool's game.  Do what you want with your money/401k.  If these guys on Reddit and other platforms are such "finance/math gurus" they probably wouldn't be hanging out on Reddit giving out stock advice.


Exactly what "crime" was committed today that should cause people to go to prison?  By the way, hows that Carnival stock doing?

Responses to jagibelieve

1) The guys on Reddit aren't giving advice, they are colluding together to squeeze out the short sellers.
2) The crime that was committed was by Robinhood taking away users accessibility to buy GME and 12 other securities.  They were protecting the short sellers that make up a significant portion of their trading portfolio.  It's like not allowing Johnny to drive up the market price because they are trying to protect Alan from losing money.

You are obviously old school with your market opinions.  The times have changed and the market has been hot since April (after the crash).  Everyone has their strategies, which is fine, but you kind of have a grandpa's type vision of undermining the intellectual levels of our youth.  These kids are 10x smarter than we ever were at their age (and perhaps now) because we never had the incredible resources at our fingertips to educate ourselves according.

I know you like your 25% yield that you recognized in the past 6 months on Boeing but popular innovating companies like Tesla and Roku have seen their stocks up 400% during that same time period as are many others.  Heck, when Biden won, I just on weed, EV, and solar and already cashed in on those.  I do see an added 5-10% drop forthcoming so I may selloff and buy the dip in about a week.

Fake news.

GME back up over 50% today. Good thing the platforms "saved" these poor investors from themselves while the hedge funds jumped out of their shorts, huh?

(01-29-2021, 10:30 AM)jagibelieve Wrote: [ -> ]

(01-29-2021, 10:04 AM)HURRICANE!!! Wrote: [ -> ]Responses to jagibelieve

1) The guys on Reddit aren't giving advice, they are colluding together to squeeze out the short sellers.
2) The crime that was committed was by Robinhood taking away users accessibility to buy GME and 12 other securities.  They were protecting the short sellers that make up a significant portion of their trading portfolio.  It's like not allowing Johnny to drive up the market price because they are trying to protect Alan from losing money.

You are obviously old school with your market opinions.  The times have changed and the market has been hot since April (after the crash).  Everyone has their strategies, which is fine, but you kind of have a grandpa's type vision of undermining the intellectual levels of our youth.  These kids are 10x smarter than we ever were at their age (and perhaps now) because we never had the incredible resources at our fingertips to educate ourselves according.

I know you like your 25% yield that you recognized in the past 6 months on Boeing but popular innovating companies like Tesla and Roku have seen their stocks up 400% during that same time period as are many others.  Heck, when Biden won, I just on weed, EV, and solar and already cashed in on those.  I do see an added 5-10% drop forthcoming so I may selloff and buy the dip in about a week.

Fake news.

How is it fake news? It's exactly what happened.

(01-29-2021, 11:11 AM)flsprtsgod Wrote: [ -> ]

(01-29-2021, 10:30 AM)jagibelieve Wrote: [ -> ]Fake news.

How is it fake news? It's exactly what happened.

When in doubt, instead of taking the time to research and learn, just say Fake News.

(01-28-2021, 06:54 PM)StroudCrowd1 Wrote: [ -> ]I don't need brokerage firms making financial decisions for me or "protecting" me. A crime was committed today, and people should go to prison.

This is one area we actually agree.  Brokerage firms like Robinhood need to face REAL consequences for this.  But ultimately they will just have to pay a fine, which is why they did it.  If the penalty for a crime is a fine, then that law only exists for the lower class.

(01-29-2021, 11:11 AM)flsprtsgod Wrote: [ -> ]

(01-29-2021, 10:30 AM)jagibelieve Wrote: [ -> ]Fake news.

How is it fake news? It's exactly what happened.

---

(01-29-2021, 11:15 AM)The Eleventh Doctor Wrote: [ -> ]

(01-28-2021, 06:54 PM)StroudCrowd1 Wrote: [ -> ]I don't need brokerage firms making financial decisions for me or "protecting" me. A crime was committed today, and people should go to prison.

This is one area we actually agree.  Brokerage firms like Robinhood need to face REAL consequences for this.  But ultimately they will just have to pay a fine, which is why they did it.  If the penalty for a crime is a fine, then that law only exists for the lower class.

This order came from HIGH up, even at the WH level most likely. These hedge funds are HUGE donors to the Democratic party. The problem is, they have caused an uprising. This will change the way hedge funds operate. The days of shorting stocks are dead, as they should have been a long time ago.