GameSTONKS Thread - Power to the meme's

[Kanriel]

That all said, I'd welcome any tips to these meme stonks. Someone told me to watch for Cardano in the crypto thread, I swapped everything there, then all of crypto tanked, so I'm out some big money there, holding that for a while, I suppose.

[Day]

anyone hit it big still need to donate to charity - still wanting a gibson sg bass pm for address

[Daydreamer]

That all said, I'd welcome any tips to these meme stonks. Someone told me to watch for Cardano in the crypto thread, I swapped everything there, then all of crypto tanked, so I'm out some big money there, holding that for a while, I suppose.

That may have been me. I put 3k in at 2.50 so ugh from my end as well. I think it should recover still based off the metric I’m looking at before the next really really big crypto crash. I mean like “the big crash.” The thing I look at is actual price vs estimated fair price. All the major crashes have happened when that ratio is about 1000%. Right now it’s at like 400-500%.

In regards to meme stocks it’s weird. When I actually do well is when I spam the new section in wsb and try to see what stocks are being shilled with decent info but get deleted fast. If I see a trend of this with the same stock I take it as “probably going to happen soon” as wsb has weird rules for how posts stay now. I start thinking I’m on the right track when said stock starts getting a post or two on front page (this is where wish was at today from what I can tell) and then start thinking it’s time to sell soon after if gets spammed a bunch on the front page (which is clov currently and it looks like wish moved into this category later in the day). Note that I said sell soon not sell immediately. This is basically when I start having to form exit strats that are usually based around if I have day trades left to burn. If I don’t have them I’m much more conservative.

[Kanriel]

That may have been me. I put 3k in at 2.50 so ugh from my end as well. I think it should recover still based off the metric I’m looking at before the next really really big crypto crash. I mean like “the big crash.” The thing I look at is actual price vs estimated fair price. All the major crashes have happened when that ratio is about 1000%. Right now it’s at like 400-500%.

In regards to meme stocks it’s weird. When I actually do well is when I spam the new section in wsb and try to see what stocks are being shilled with decent info but get deleted fast. If I see a trend of this with the same stock I take it as “probably going to happen soon” as wsb has weird rules for how posts stay now. I start thinking I’m on the right track when said stock starts getting a post or two on front page (this is where wish was at today from what I can tell) and then start thinking it’s time to sell soon after if gets spammed a bunch on the front page (which is clov currently). Note that I said sell soon not sell immediately. This is basically when I start having to form exit strats that are usually based around if I have day trades left to burn. If I don’t have them I’m much more conservative.

Oh I still am holding because Cardano does have a good bit of hype behind it so I think there still very much is a chance it breaks out. But crypto is just getting battered atm so I kinda doubt it really turns around for a few months. Think Cardano and/or Algorand (another one I'm holding) has some contracts going in August or something, so may be able to finally not hate myself when I look at my portfolio by the fall.

Financially I'm boned until UI ever comes through as I kept buying the crypto dip so my 'play money' is now effectively needed for things, so I could use the tips on meme stonks to make a little coin, but I'm wary on it until UI comes through, which will date all the way to December, so it's gonna be 5 figures. I can't full YOLO on this stuff until UI comes through, and if I YOLO and fail I guess I'll have to...actually get a job again, which isn't the worst thing anyway lol

[Ayn]

The only tip I have (which is not financial advice) is know your risk tolerance, don't bet anything that you can't afford to lose, and the second you start hearing people say "to the moon!" get off that ship because it's going to become the Challenger.

[Sho]

My old roommate is getting her mba and before this didn’t know how stocks worked at all.

Her: “I’m in class now and my professor is basically saying you do everything that shouldn’t work.”
Me: sends her photo of like 500% daily gains or whatever crazy meme thing is happening that day.

Bro, it's the truth though, haha. Sometimes I just sit here and wonder why any of it makes sense. Then I press the purchase button and realize gains doing next to nothing.

[Kanriel]

The only tip I have (which is not financial advice) is know your risk tolerance, don't bet anything that you can't afford to lose, and the second you start hearing people say "to the moon!" get off that ship because it's going to become the Challenger.

Oh yeah, 99% of the time I'm super cautious about any of it. Went too far in on crypto (kept buying after dip 1/2 last month) and it's looking like crypto may be hibernating for a while, so that sucks. I was cautious on stocks the whole way, had $500 in on AMC, sold for a loss, and now months later AMC decides to do some shit, I didn't even do anything with that money, I just took it off etrade, so I missed the AMC squeeze and didn't have the money to put more into CLOV just now. I've just fucked up everything investment wise so far this year, though a good bit of that was because I was being cautious.

[Krandor]

There is a train of logic to this shit.

It's just a question of guessing right on whatever stock the autists are going to all jump in on and doing it early enough.

[archibaldcrane]

Yeah I haven't fucked with crypto since buying into Bitcoin in December 2017 at a peak it didn't hit again for 3 fucking years, and hadn't done any memestocks until about 20 hours ago with zero thought other than "haven't heard of it, it's probably not too late!"

[archibaldcrane]

Speaking of, CLOV is approaching it's morning peak now in after hours.

[Kanriel]

Yeah I haven't fucked with crypto since buying into Bitcoin in December 2017 at a peak it didn't hit again for 3 fucking years, and hadn't done any memestocks until about 20 hours ago with zero thought other than "haven't heard of it, it's probably not too late!"

See, I always fucking hated crypto. Had a coworker a few years ago that was 100% bought into it cult-like. Saying shit like "Bitcoin is more stable than the dollar!". But man do I wish I had bought some back in the day for the lulz, though almost certainly would have sold it at like 20k even during this past winter lul. I had bought Ethereum at like $1300 and sold at $1900 thinking I was being cautious and smart, then that bitch went to $4k.

[archibaldcrane]

I hate crypto and these meme stocks

but I like money so

[archibaldcrane]

These people on reddit showing half-million dollar 24 hour gains are fucking with me though lol

[archibaldcrane]

*I took reverse mortgages on both my homes, YOLO'ed my IRAs into 10X leverage and made 5 million dollars today*

like, c'mon fuck you

[Karbuncle]

*I took reverse mortgages on both my homes, YOLO'ed my IRAs into 10X leverage and made 5 million dollars today*

like, c'mon fuck you

Stories like that make me wish I had both the luck and money to cash in on these trends.

But i have neither, so I'll stick to my tiny gains .-.

[Kanriel]

See, I'd never do that. Technically I'm almost paid off my house so if I totally fuck up memestocks/crypto I could take out a home equity, but that's something I really really really do not want to do. I'm under $10k from paying off the mortgage, and UI backpay will do that. But I'm so tempted between paying off mortgage, or trying to double/triple/etc. with these memestocks, cause man is that tempting seeing the crazy money people are making. I live a poor life in a poor area, a small boost goes a long way for me.

[Karbuncle]

I have like $20 in Doge for the luls on the off chance it does some weird Ballooning shit, thats the riskiest bet I've placed and its only $20 lol.

[Ayn]

Yeah the 'by the time you've heard of it, it's probably too late' is (anecdotally) spot on.

I lucked out with AMC with a little bit of silly logic. I think I was at the end of May, saw it low, and said "Hmm, CA's set to reopen a bunch of things by the 15th. I bet AMC's going to spike" and dipped my toe in. I'm a bit more risk adverse compared to some of my friends and colleagues (they've had the fortune of always having a safety net; my upbringing was not the case, which I fully own), so while (to Archi's point) it's hard for me not to get annoyed with the example he gave, I also have to ground myself with "I came out ahead, not by a significant amount to suddenly change my life plans, but enough to offset something in the future" is where I'm at.

As for crypto, the only person I've talked to at length about it that didn't sound like a weird cultist is Sath; he was nice enough to answer some questions I had about it, so I'm appreciative there.

Many other people I've talked to about it sounds like they're marketing becoming a salesperson for Beachbody products.

[Kanriel]

I tossed $100 into doge when it was added to coinbase just for the lottery giveaway thing they're doing, but I know doge is the meme of memes so I have little faith in truly making money there.

[Kaslo]

I have like $20 in Doge for the luls on the off chance it does some weird Ballooning shit, thats the riskiest bet I've placed and its only $20 lol.

I have 15 Dogecoins just because that's where I throw my change from monthly investments lol