WSB has Degenerated into a huge PnD Forum. RIP.

I enjoy Reddit, but it is difficult to find anything of merit there. The pumps only last a few hours or minutes, and leave the late comers holding bags when the rug is pulled. The forums are filled with people YOLOing into shit stocks like WISH CLOV MVIS etc, often with very short DTE calls which expire worthless. You cant profit much from buying puts due to IV crush. There are a few good traders but you have to sift through so much crap. I just go read for giggles.
 
rwnomad said:
I enjoy Reddit, but it is difficult to find anything of merit there. The pumps only last a few hours or minutes, and leave the late comers holding bags when the rug is pulled. The forums are filled with people YOLOing into shit stocks like WISH CLOV MVIS etc, often with very short DTE calls which expire worthless. You cant profit much from buying puts due to IV crush. There are a few good traders but you have to sift through so much crap. I just go read for giggles.
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It's helpful to use tools that summarize Reddit into trending tickers. For example for indentifying short term momentum trends, https://swaggystocks.com/dashboard/stocklabs/wallstreetbets-trends

Some other helpful sites:
https://marketstream.io/latest
http://dayminer.herokuapp.com/
https://topstonks.com/


The graphs at the bottom of the swaggystocks page can save you a lot of time from having to actually scroll through reddit threads.

upload_2021-6-23_10-32-16.png
 
rwnomad said:
I enjoy Reddit, but it is difficult to find anything of merit there. The pumps only last a few hours or minutes, and leave the late comers holding bags when the rug is pulled. The forums are filled with people YOLOing into shit stocks like WISH CLOV MVIS etc, often with very short DTE calls which expire worthless. You cant profit much from buying puts due to IV crush. There are a few good traders but you have to sift through so much crap. I just go read for giggles.
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Some guys from reddit go to elitetrader to read about people working hard for returns over 10 years which they amass in 6-9 months. They read it for the giggles.

No jokes aside, I think a lot of the 'lucky' birds will be parted quickly from most of their gains. If it isn't for the market taking it back, staying wealthy is not always that easy. Especially if you spend it on fast depreciating assets. Well, at least they can quote George Best ;)
 
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Zwaen said:
Some guys from reddit go to elitetrader to read about people working hard for returns over 10 years which they amass in 6-9 months. They read it for the giggles.

No jokes aside, I think a lot of the 'lucky' birds will be parted quickly from most of their gains. If it isn't for the market taking it back, staying wealthy is not always that easy. Especially if you spend it on fast depreciating assets. Well, at least they can quote George Best ;)
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99% of redditors get smoked even worse than typical beginning traders. For every one person posting life changing gain porn there are thousands that blew every bit of savings they had YOLOing on weeklies.
 
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