GME up over 100%.... what is going on now?
- Thread starter Saltynuts
- Start date
Actually some people already started buying this week anticipating the check coming in. Also I doubt it will go up a lot just because of this when all the market makers and hedge funds know that the check will be coming in.
That's what I'm thinking, vanzandt wants to swing for fences, but I just want to nibble here and there, VERY slowing, increasing my average sale price SLOWLY over time. I see this now as a portfolio cushion - short term swings are crazy, but I've got a ton of long stuff in my account, been wanting some short stuff, and, long term, what is better to short than something that is waaaaaay overvalued and will almost certainly return to a very small price? Diamond Hands stay in, DOUBLE Diamond Hands increase their positions...
No no no no..... There ain't no swingin' for the fences about it.
If you have the wherewithal to tolerate this thing hitting $1000 on your original position, without getting a margin call... you've got plenty of dry powder.
You could have shorted 500 shares right there knowing the trade was only going to last less than 40 minutes and stopped yourself out if it went the other way. On those 500.
As it stood, that selloff was obvious. It went to $162 before the daytrading shorts all came in to cover at the last minute. It took out the days low. That's $4000 you could use lol.
Oh well, you do your thing Salty.
Oh ok.... I missed the "massive 4 shares".... I just saw "massive", that's why I used all caps and banged my head. I thought you did something stupid, ie another 300 shares and didn't close it.
4 shares.... you're good.
lol
Can someone tell me why my suggestion is a bad idea? I'm just trying to learn to trade better from professional traders like you. I figured GME is going to range bound between 250 and 300 till the earnings come out. So I suggested salty to short at the upper bound and close at the lower bound. I have done that quite a bit with stocks that have solid fundamentals like aapl, msft and made around 200k profit on such trades last year, buying them in thousands (2000 to 3000 shares) at the lower bound. I cannot do the same with GME as that thing can crash or soar anytime and I don't want to be left holding the bag but when you are talking about 4 shares, and range of $25, you can keep making $100 profit everyday. That is peanuts but is free money for minimal risk of 4 shares. What is the flaw in this logic?