yeah I’m not, I’m just kind of screwing around while the country burns
General Investing and Economics Discussion - No Politics
- Thread starter CuseJacket
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yeah I’m not, I’m just kind of screwing around while the country burns
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Kroger announced quarterly earnings today. In what is probably the biggest tailwinds that industry could ever have, they only managed a 2.9% profit margin this quarter. Grocery stores might be the only industry uglier than oil.
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LibertyTurns
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I was looking for a sell off to make some profit. Thought I was losing my mojo but here we go boys
Techster
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There's a LOT of money to be made on false hope. Valuations and stock prices over the last month were not based on reality. If you got in while the market was down, you should probably take some profit.
The Covid numbers are about to take a turn for the worse. We literally have some states threatening to lock out residents from other states because infections are getting so bad. Europe is debating on whether to let citizens from the US fly in. The numbers of opening up a month ago are now starting to rear its head, and that's not taking into account the 2 week trailing effects this virus will have over the coming weeks and months. The Economy is about get clubbed like a baby seal, and the Fed and US government has about used up all of their bullets.
Take your profit, and put it in your war chest. Prices are head into red territory with opportunities all around if you have patience and discipline.
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LibertyTurns
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Robinhood traders have probably been doing well lately because they’re high risk traders by nature. During reversals, these type of people get absolutely crushed.
Babelfish is a solid analytical company. @Peacone36 had some questions regarding trading costs. These guys look at execution quality but also examine latencies, leakage, success rates, etc in grave detail. I don’t trade anywhere near enough to require their services but if you trade heavily you should be intimately familiar with what these guys provide otherwise you’re probably getting fleeced.
Babelfish is a solid analytical company. @Peacone36 had some questions regarding trading costs. These guys look at execution quality but also examine latencies, leakage, success rates, etc in grave detail. I don’t trade anywhere near enough to require their services but if you trade heavily you should be intimately familiar with what these guys provide otherwise you’re probably getting fleeced.
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To your point, the market was basically stable for the month of June...except there was a pretty big decline on 6/9, 6/10, and 6/11. Robinhood investors lost 10% of their money in 3 days more what the market averages did. (They lost 17% of their money overall.)
Milwaukee
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Bitcoin thoughts/suggestions?
Lotta Booze
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I know this is more speculation rather than investing but is anyone else in on this GameStop short squeeze action? This is wild. A week ago it was under $40/share and now it's trading at $132.
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The float is 47m and 71m shares short. I'm not even sure how that is possible - people have shorted everything they can find and then on margin got put options everywhere or something? This is a company that melted under covid, but there comes a time where crazy speculative margin trading like that is just over the top.
Techster
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I think those stops are because their trading has literally been halted multiple times.
LibertyTurns
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I think you did very well if you bought at $20k.
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I bought a tiny little bit at $40K and doubled down at $32K.
Basically, I needed something to replicate being at a craps table. The nice thing about this is that it's a never-ending, 24/7 craps table.
Techster
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No matter how much you may or may not have lost, just be glad you're not in this situation:
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I think I saw another situation where a dude threw his hard drive out and offered the local municipality $75MM to dig up the garbage dump.
Techster
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mts315
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Just an update on this if anyone cared...I bought about a week to early but as of today up to around $11 per share. So, getting close to doubling my money on this.