Everyone Is becoming a “Trader” during lockdown

C

Clubber Lang

I have at least half a dozen friends who have opened Etrade, Robinhood, etc accounts in the last two months.
Some are bored working from home. At least one is a gambling fiend and there’s no sports to bet on.

Wondering how much of the fast and furious bounce off the March low is due to lockdown newbie “traders” buying the stuff they know (AMZN FB AAPL etc)?
Reminds me of 1999 and all the retail accounts that would pile into the same handful of stocks.
 
Does Not mean they are wrong with their stock choices...
Once in a while for decades you were able to go shopping.. ;

Btw, everyone seeing this crisis as a fact, like:
It had to go down like this with the stock markets. - And it will take much time until it goes up again.

But maybe that was just an overreaction...,
Also by professional traders?
 
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I am seeing the same thing. Multiple friends are at home and now trading. Some were buying USO last week - Doh! Not sure the impact or magnitude on the overall markets but you have to figure the newbies are going to buy stocks, not short them.


Clubber Lang said:
I have at least half a dozen friends who have opened Etrade, Robinhood, etc accounts in the last two months.
Some are bored working from home. At least one is a gambling fiend and there’s no sports to bet on.

Wondering how much of the fast and furious bounce off the March low is due to lockdown newbie “traders” buying the stuff they know (AMZN FB AAPL etc)?
Reminds me of 1999 and all the retail accounts that would pile into the same handful of stocks.
More...
 
I've also had multiple friends ask about trading and specifically about buying USO. Guys who are usually a good fade when it comes to their buying / selling ideas.
 
Baron said:
I believe it. The analytics are showing that the site traffic here at ET doubled last month.
More...

That's what I was telling others but I had no confirmation facts about such...nobody willing to cough up some generic facts until you just did it. :D

There's a lot of traffic coming into the trading forums, stock market due to the Pandemic and shut downs of other traditional gambling sources.

My own mom and her friends love to go to Vegas to gamble.

They can't now and have been hitting the stock market as if its some roulette wheel and they're very familiar with the markets via their investments and retirement funds.

Heck, they're also now doing "online lottery" stuff for fun which is something they've never done before in the past. Mom even called me last night to ask me what are my favorite numbers so that she can play them.

wrbtrader
 
Clubber Lang said:
I have at least half a dozen friends who have opened Etrade, Robinhood, etc accounts in the last two months.
Some are bored working from home. At least one is a gambling fiend and there’s no sports to bet on.

Wondering how much of the fast and furious bounce off the March low is due to lockdown newbie “traders” buying the stuff they know (AMZN FB AAPL etc)?
Reminds me of 1999 and all the retail accounts that would pile into the same handful of stocks.
More...

Making a little money in a furious rally which is touted on the business channels and nightly news is one thing. Keeping it is another. IOW... it's not wise to confuse a bull market with brains.
 
As long as your trade is aligned with the trend, the hordes of gamblers who now trade will be able to make some monies. Compare that with their chances in Las Vegas where it is a negative expectation game. Sure, they can still lose their monies if they make boneheaded trades. They should ask at a minimum, knowledgeable friends how to trade the stockmarket correctly. Then, they have a chance to make some monies instead, of blowing it all in Las Vegas.
 
During 3d printing bubble , some folks here jumped into DDD, now, 7 years later, they are still waiting for it to ~bounce back~.

Same story this time, some probably jumped into the worst possible bio techs (other sectors), and will be waiting for it to ~bounce back~, until it will reach major support at 0.00.


https://robinhood.com/collections/100-most-popular

ACB, F, PRGN, GPRO etc...

Good riddance.
 
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