wtf happened I looked and saw my AMC was at $27 and I sold all of it reflexively
I hope that was a good decision and it doesnt go up to 400
I mean, I figure if you made money you won. You can't decide whether it was a good decision based on future information, because you didn't have that information at the time.
So this is just another short squeeze/pump and dump, right? There’s no “real” news affecting AMC?
Probably a little bit but really places are opening up, giant blockbusters are hitting screens in under a month stateside. The industry should hopefully be going fuckin wild in about 2 months. If the value was ever gonna jump this is about the time it should start to. Like every story and study that comes out to say the vaccinated can just go do stuff is a story about how the movies are a thing we can do again.
Sleep on
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MonwynApathy's a tragedy, and boredom is a crime.A little bit of everything, all of the time.Registered Userregular
Well there has been good news on the vaccination front and that means butts in seats soon. Has there been any vaccination news this week that would cause it? I don’t know specifically.
As I said upthread it's still attached to GME for whatever reason so either of them may go up if the other is squeezing even if it makes no sense based on reality.
I think with AMC a couple shorts probably covered which is there only way I can really explain the sharp spike today around 2ish?
Could be a lot of things - AMC is completing its reopening plans this week, advance sales for A Quiet Place 2 are nearly double what they were during the pre-pandemic time, etc
I have no doubts that shorts played into it, but I think some of it is also recovery related
All I know is of I had the stones to eat my loss this morning, switch to AMC, and sell around now, I'd be back in the green. Can't say that most days...
Set up laddering limit sells and stop looking at it.
*goes back to looking at it*
I've just got it set up on the left side of my screen at this point to keep a constant vigil. I was setting alerts on my Fidelity app but it keeps blowing past them. It just went from $50 to $60 a share in the last ten minutes.
EDIT: You can sell stocks for their current price after hours on Fidelity, right?
EDIT 2: It's been stuck on $61.71 for a bit now and I'm suddenly paranoid why.
Stuff gets wacky when halted, that could be literally 1 share causing the drop.
On the way back up now.
I'm supposed to have class in about an hour that'll last until the stock market closes but I'm seriously considering not going just because of what's happening now.
Wow is it hard for me to concentrate on anything else right now. So many questions racing through my mind whether I should take the money and run now, hold onto it even if it dips back down significantly, etc.
EDIT: I don't see how people who keep up with multiple stocks manage to get anything else done through the day.
Wow is it hard for me to concentrate on anything else right now. So many questions racing through my mind whether I should take the money and run now, hold onto it even if it dips back down significantly, etc.
EDIT: I don't see how people who keep up with multiple stocks manage to get anything else done through the day.
it takes a particular ability to handle risk
Speaking from a position of caring about you, it doesn't sound like you have it. That's fine! I've figured out I don't have it either, so I just dump money in index mutual funds and pretend it doesn't exist. That way I'm happily surprised later when I need it and it's gone up.
Wow is it hard for me to concentrate on anything else right now. So many questions racing through my mind whether I should take the money and run now, hold onto it even if it dips back down significantly, etc.
EDIT: I don't see how people who keep up with multiple stocks manage to get anything else done through the day.
it takes a particular ability to handle risk
Speaking from a position of caring about you, it doesn't sound like you have it. That's fine! I've figured out I don't have it either, so I just dump money in index mutual funds and pretend it doesn't exist. That way I'm happily surprised later when I need it and it's gone up.
I do at least have a 401k from a former employer that has recovered nicely. Unfortunately, I can't really do anything with that money for a long time. It'd be nice if I could just take some to help pay off my student loans, but each time I look into that it ends up looking like a bad idea in the long run. I also need to remind myself to put some money in something more stable.
I only bought 9 shares of AMC back when it was at $10, btw, so I'm not expecting a huge windfall, but I still can't help but be excited.
Day trading stocks really seems like it hits the same part of the brain as gambling, and it's probably better to think of the activity as that than investing. Give yourself a limit, put out your original investment if you manage to double up, play with house money and think of it as fun and NOT money.
If all you're focused on is the money, you're just setting yourself up for depression via FOMO.
Day trading stocks really seems like it hits the same part of the brain as gambling, and it's probably better to think of the activity as that than investing. Give yourself a limit, put out your original investment if you manage to double up, play with house money and think of it as fun and NOT money.
If all you're focused on is the money, you're just setting yourself up for depression via FOMO.
Hahaha man that's been a wild ride today, they just halted trading again. It was up to 72$ at one point. 3 monthes ago it was *checks notes* less then 7$. Crazy.
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OrcaAlso known as EspressosaurusWrexRegistered Userregular
Day trading stocks really seems like it hits the same part of the brain as gambling, and it's probably better to think of the activity as that than investing. Give yourself a limit, put out your original investment if you manage to double up, play with house money and think of it as fun and NOT money.
If all you're focused on is the money, you're just setting yourself up for depression via FOMO.
I've already pulled out my original investment a few hours ago at the advise of a friend. Now I'm just waiting to see when I should cash out, which is a bit hard to do at the moment seeing as the share price is just shy of $70.
Giving advice on stocks to buy. If you're going down that route, reddit is over there.
Discussing gambles you personally have made.
Noted and edited out from my post, thanks.
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KoopahTroopahThe koopas, the troopas.Philadelphia, PARegistered Userregular
edited June 2021
For anyone in the thread not watching tickers, so far AMC has hit $72.62 high today, and GME has hit $294.00 around lunch time. They've both cooled off a little since.
IMO I think it's smaller shorts slowly covering AMC tackled with FOMO buy in, but the comparative charts from all of the 'meme stocks' against GME makes me think GMEs move is a lot healthier. AMC's halt on the way up before it hit $70 a share really pushed GME price by over $25 during the five minutes before coming right back down.
In any case, this market is just impossible to do any sort of real technical analysis on. 100% increase on AMC that is trading welllll over it's total float in shares a day is some Looney Toon nonsense.
I wonder how many of these people understand how murdered they're going to be with capital gains taxes. I'm willing to bet a fair share of them won't even know to pay the taxes on these sales.
I wonder how many of these people understand how murdered they're going to be with capital gains taxes. I'm willing to bet a fair share of them won't even know to pay the taxes on these sales.
A lot of them may not realize it, but capital gains doesn't change profitable trades into unprofitable ones. I haven't looked at WSB or whatever the new subreddits are specifically for GME/AMC, but in the past anytime someone posted a large gain people would chime in to set aside enough to pay capital gains.
I wonder how many of these people understand how murdered they're going to be with capital gains taxes. I'm willing to bet a fair share of them won't even know to pay the taxes on these sales.
A lot of them may not realize it, but capital gains doesn't change profitable trades into unprofitable ones. I haven't looked at WSB or whatever the new subreddits are specifically for GME/AMC, but in the past anytime someone posted a large gain people would chime in to set aside enough to pay capital gains.
True, but it does change the point a trade is a worthwhile gain. Most people mentally go woo, I made 10,000$! Not, woo, I made 7500$ + some more taxes.
The one I've seen more complaints about is crypto based. Where someone trades some crypto (all trades are taxable events) resulting in realizing a large gain. The new coin they have tanks, and they no longer even have an investment they can sell to cover the gain.
Stock sales are also notorious for bumping people up into new tax brackets temporarily also. So a lot of these people are going to think they need to pay at a certain rate when it may be higher.
Source: This happening to me the first few years I was dealing with company stock purchase plans.
If you made even a couple grand on the stock market in a given year, you should probably fork over a couple hundred bucks for a professional to do your taxes for you.
The one I've seen more complaints about is crypto based. Where someone trades some crypto (all trades are taxable events) resulting in realizing a large gain. The new coin they have tanks, and they no longer even have an investment they can sell to cover the gain.
Wait, what? You get taxed on unrealized gains, even if you then lose that gain?
Or am I completely not understanding what you said (This is quite possible)?
EDIT: Hang on, you said a realized gain. If you sell a stock/coin for a profit, then reinvest that money and lose it, you still owe income on the gain?
That's actually...I think I get it, but man, what a trap that can be.
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I mean, I figure if you made money you won. You can't decide whether it was a good decision based on future information, because you didn't have that information at the time.
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Probably a little bit but really places are opening up, giant blockbusters are hitting screens in under a month stateside. The industry should hopefully be going fuckin wild in about 2 months. If the value was ever gonna jump this is about the time it should start to. Like every story and study that comes out to say the vaccinated can just go do stuff is a story about how the movies are a thing we can do again.
IIRC they paid off some more debt, but in general there's no reason this should have doubled this week specifically, no.
To be clear, I meant "all profit from here," not "oh hey I can buy a house." Compared to the WSB-level YOLOs I made pocket change, but money is money.
Twitch: KoopahTroopah - Steam: Koopah
Could be a lot of things - AMC is completing its reopening plans this week, advance sales for A Quiet Place 2 are nearly double what they were during the pre-pandemic time, etc
I have no doubts that shorts played into it, but I think some of it is also recovery related
On the other hand, zomg AMC's almost at $50 a pop and I can't stop checking it to see if I wanna stay in or get out while the getting's good.
*goes back to looking at it*
I've just got it set up on the left side of my screen at this point to keep a constant vigil. I was setting alerts on my Fidelity app but it keeps blowing past them. It just went from $50 to $60 a share in the last ten minutes.
EDIT: You can sell stocks for their current price after hours on Fidelity, right?
EDIT 2: It's been stuck on $61.71 for a bit now and I'm suddenly paranoid why.
EDIT: Now it's suddenly dropped to $51 dollars.
On the way back up now.
I'm supposed to have class in about an hour that'll last until the stock market closes but I'm seriously considering not going just because of what's happening now.
EDIT: I don't see how people who keep up with multiple stocks manage to get anything else done through the day.
Sometimes I think the south park proposition that the market is controlled by where the body of a beheaded chicken lands isn't too far off
it takes a particular ability to handle risk
Speaking from a position of caring about you, it doesn't sound like you have it. That's fine! I've figured out I don't have it either, so I just dump money in index mutual funds and pretend it doesn't exist. That way I'm happily surprised later when I need it and it's gone up.
I do at least have a 401k from a former employer that has recovered nicely. Unfortunately, I can't really do anything with that money for a long time. It'd be nice if I could just take some to help pay off my student loans, but each time I look into that it ends up looking like a bad idea in the long run. I also need to remind myself to put some money in something more stable.
I only bought 9 shares of AMC back when it was at $10, btw, so I'm not expecting a huge windfall, but I still can't help but be excited.
If all you're focused on is the money, you're just setting yourself up for depression via FOMO.
Edited.
@Hexmage-PA, from the OP:
Noted and edited out from my post, thanks.
IMO I think it's smaller shorts slowly covering AMC tackled with FOMO buy in, but the comparative charts from all of the 'meme stocks' against GME makes me think GMEs move is a lot healthier. AMC's halt on the way up before it hit $70 a share really pushed GME price by over $25 during the five minutes before coming right back down.
In any case, this market is just impossible to do any sort of real technical analysis on. 100% increase on AMC that is trading welllll over it's total float in shares a day is some Looney Toon nonsense.
Twitch: KoopahTroopah - Steam: Koopah
True, but it does change the point a trade is a worthwhile gain. Most people mentally go woo, I made 10,000$! Not, woo, I made 7500$ + some more taxes.
Source: This happening to me the first few years I was dealing with company stock purchase plans.
Wait, what? You get taxed on unrealized gains, even if you then lose that gain?
Or am I completely not understanding what you said (This is quite possible)?
EDIT: Hang on, you said a realized gain. If you sell a stock/coin for a profit, then reinvest that money and lose it, you still owe income on the gain?
That's actually...I think I get it, but man, what a trap that can be.