Meme stock strategy

N

nooby_mcnoob

This is just a thread cataloging my thoughts on the development of a meme stock strategy. In the past year or so, I've been trading meme stocks and have done better than I should have.

* TSLA
* AMD
* MU

There are a couple of others but I have forgotten them now.

The idea behind this journal is to systemize the choice of meme stock and how to choose entries/exits.

NR deserves an honorable mention because although it isn't a meme stock, it is one I have repeatedly traded successfully. This one in particular, and I'm not joking, I trade when Yahoo Finance notifies me that it's moved X%.
 
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What is a meme stock

A meme stock is something where there is a concentrated rush of new "investors" - people who think they can profit by HODLing. Over the long term, they are often right, but the pros seem to throw these guys around like a rag doll in order to shake them out of their positions. The net result is an increase in volatility.

So, in the last couple of years, stocks that would qualify (purely on a discretionary basis) would be the stocks that I mentioned initially (TSLA, AMD, MU) but also SNAP to a lesser extent.

Ways that I identify meme stocks:

* Social media chatter
* Followed by an increase in news coverage (this is usually where I enter)
* Followed by huge move (this is usually where I exit)

I know it's kind of dumb. But I am dumb.
 
UBER and LYFT

Both admit they may never make a profit. UBER valued at $90,000,000,000.

Is that fucking crazy?

I think it's actually healthy we have these crazy stocks. At least the craziness is concentrated in a few stocks instead of infecting the broader market.
 
I'm not trying to go against the market, just identifying stocks that may be volatile for social reasons.

So I don't really mess with IPOs
 
nooby_mcnoob said:
What is a meme stock

A meme stock is something where there is a concentrated rush of new "investors" - people who think they can profit by HODLing. Over the long term, they are often right, but the pros seem to throw these guys around like a rag doll in order to shake them out of their positions. The net result is an increase in volatility.

So, in the last couple of years, stocks that would qualify (purely on a discretionary basis) would be the stocks that I mentioned initially (TSLA, AMD, MU) but also SNAP to a lesser extent.

Ways that I identify meme stocks:

* Social media chatter
* Followed by an increase in news coverage (this is usually where I enter)
* Followed by huge move (this is usually where I exit)

I know it's kind of dumb. But I am dumb.
More...


Well...I might never trade stuff like this and I might never trade the way you do but heck...Meme Stock..that in itself can be a meme...and I like memes
 
Tracking sentiment

I would like to use my Spartan platform to track sentiment for various stocks. I can imagine tracking historical sentiment is a bitch... My thoughts around this are:

1. Pick a few news/social media sources that go back 5-10 years
2. ???
3. Store a sentiment score

Done.
 
nooby_mcnoob said:
Tracking sentiment

I would like to use my Spartan platform to track sentiment for various stocks. I can imagine tracking historical sentiment is a bitch... My thoughts around this are:

1. Pick a few news/social media sources that go back 5-10 years
2. ???
3. Store a sentiment score

Done.
More...

this is good stuff!

actually similar in a way to what I do... I just happen to have found this one sentiment indicator I like and I don't need to track with too much work.
 
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