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Greggs

Well-Known Member
More telegraph

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Dogecoin, a digital currency that started out as a joke, has soared 369pc in the past 24 hours as Reddit investors pour into the digital asset.

The crypto now has a total value of $6.69bn with each "Doge coin" valued at $0.052223 (£0.037810) as of 8.48am, according to figures from CoinDesk. Doge briefly spiked over 800pc to $0.40 at around 3.25am before crashing heavily into negative territory.

Created in 2013, the Dogecoin currency was based around the popular Doge meme, which featured a picture of a Shiba Inu. Its recent resurgence is believed to have begun after members of the subreddit r/SatoshiStreetBets began posting about getting it up to a $1 valuation, inspired by the recent Redditor-led charge on GameStop stock.

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Time to head for the exits....
i added to my apple holdings yesterday. Massive sell the news and i love buying a dip! Markets are utter madness. I'm in long on 3 APPL AMZN and CGC. I want to get rich the fair way, none on this pumpy dumpy shit!
 

Greggs

Well-Known Member
Spend all night reading about Lego. Unless you can get a 'trendy' set that's about to retire, it's a tricky way to make decent money. I guess you'd have to be lucky at second hand shop and car boots, as a decent price is already priced in on ebay etc
 

shmmeee

Well-Known Member
Pay day, decided to throw this months fun money on some meme stocks for the lols, and because I’m thinking about trying to get in seriously at some point and want to figure out how it all works.

Signed up for a Revolut account, but says I can’t trade until my application is reviewed. Any one else used this and got any idea how long it takes?
 

Marty

Well-Known Member
Spend all night reading about Lego. Unless you can get a 'trendy' set that's about to retire, it's a tricky way to make decent money. I guess you'd have to be lucky at second hand shop and car boots, as a decent price is already priced in on ebay etc

Don't bother with Lego imo,

All the smart money is Pokémon cards, Ive been buying up booster boxes for months at RRP and flipping them, can get close to double the RRP already. The new sets are already vastly underprinted, and won't be receiving a reprint any time soon, throw in that it's the 25th anniversary this year and the prices are only going one way.
 

shmmeee

Well-Known Member
Pay day, decided to throw this months fun money on some meme stocks for the lols, and because I’m thinking about trying to get in seriously at some point and want to figure out how it all works.

Signed up for a Revolut account, but says I can’t trade until my application is reviewed. Any one else used this and got any idea how long it takes?

Never mind just got approved.

Am now the proud owner of 0.17 GameStop stonks (well when the market opens). Much portfolio, such invest. Wow 😂😂
 
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Deleted member 4439

Guest
Soon to be 17 stonks, or 0.000000000000000000000000000000000000000017 :)

Keep us updated!!
 

Greggs

Well-Known Member
Don't bother with Lego imo,

All the smart money is Pokémon cards, Ive been buying up booster boxes for months at RRP and flipping them, can get close to double the RRP already. The new sets are already vastly underprinted, and won't be receiving a reprint any time soon, throw in that it's the 25th anniversary this year and the prices are only going one way.
Mate, glad you're ok. Thought you were dead lol
 

Greggs

Well-Known Member
Out of curiosity what trading platform do you use? Want something I can use on my mobile.
Aj Bell.
The fact you've heard about Gamestop in the news - means the chance has already gone imo. It's a good idea to start investing though mate!! Good luck
 

jimmyhillsfanclub

Well-Known Member
Anyone who fancies trying to find the next gamestop, then the below might help.

I was sent it yesterday by my mate who over the years has been involved in trading, brokering & banking.

That said, I accept no responsibility whatsoever....just thought I'd pass it on for those who have the knowledge/time/balls for this kinda stuff.


> Look at finviz dot com and sort by "float short" under "screener" and "custom"
Nokia was never a squeeze, they have 1.12% shorts and 5.6 bn shares.
Check for the real short squeezes. GME is the real deal; but check for yourself using "float short" under "screener" and "custom"
Spread the knowledge of how to do your own DD and identify squeeze opportunities.
If the sub gets locked again you'll know what to do.
Don't let them spread us too thinly.
 
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Deleted member 4439

Guest
Getting into bitcoin now has to be worth it - massive herd behaviour, who knows where it could be before it all crashes. Up 13% on the expectation. If I could be bothered to register, would buy some myself.
 

Greggs

Well-Known Member
Getting into bitcoin now has to be worth it - massive herd behaviour, who knows where it could be before it all crashes. Up 13% on the expectation. If I could be bothered to register, would buy some myself.
brave man - good luck! I remember a lad - not too bright - used to buy drugs off Silk Road using BitCoin about 10 years ago. I always wonder if he kept some in his wallet for a rainy day!
 
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Deleted member 4439

Guest
brave man - good luck! I remember a lad - not too bright - used to buy drugs off Silk Road using BitCoin about 10 years ago. I always wonder if he kept some in his wallet for a rainy day!


One day, maybe. Had to set up an etoro account, and once that had been approved I'd was playing with the cats.
 

shmmeee

Well-Known Member
Don’t buy fucking meme stocks for profit guys!

I’ve put £50 for shits and giggles and to be in on the meme. And to see how the app and everything works for when I want to do it properly.

Revolut took a couple of hours to approve.
 

Greggs

Well-Known Member
Don’t buy fucking meme stocks for profit guys!

I’ve put £50 for shits and giggles and to be in on the meme. And to see how the app and everything works for when I want to do it properly.

Revolut took a couple of hours to approve.
pre-market action killed any hope of a run today mate. I wish this sort of shit wasn't happening - i thought the markets would settle after the US elections.
 

dutchman

Well-Known Member
Getting into bitcoin now has to be worth it - massive herd behaviour, who knows where it could be before it all crashes. Up 13% on the expectation. If I could be bothered to register, would buy some myself.

Good luck with that mate! I've tried with two different exchanges and it's like pulling teeth. No matter how much ID you provide them with they always ask for more before they'll let you deal.
 
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Deleted member 4439

Guest
Surprisingly, etoro were happy with an out of date passport and a ni number, that's all...
 
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Deleted member 4439

Guest
Just been reading an interesting article about how shorters profit from the robinhood herd.

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The most recent study, “Attention Induced Trading and Returns: Evidence from Robinhood Users,” was published in October and examined trading activity of Robinhood from May 2, 2018, to Aug. 13, 2020. They particularly studied “extreme herding events,” where Robinhood traders crowded into particular stocks.

They concluded that during these extreme “herding events,” “the top 0.5% of stocks bought by Robinhood each day experience return reversals on average of approximately 5% over the next month whereas the more extreme herding events have reversals of approximately 9%.”

The conclusion: “Large increases in Robinhood users are often accompanied by large price spikes and are followed by reliably negative returns.”

Why did that happen? The authors noted that most Robinhood investors are inexperienced, so they tend to chase performance. The layout of the app, which draws attention to the most active stocks, also causes traders to buy stocks “more aggressively than other retail investors.”

Finally, the ease of use of the site, and the fact that it is commission-free, may also encourage trading. “As evidenced by turnover rates many times higher than at other brokerage firms, Robinhood users are more likely to be trading speculatively and less likely to be trading for reasons such as investing their retirement savings, liquidity demands, tax-loss selling, and rebalancing.”

Why do stocks that spike when Robinhood traders pile in so quickly drop off? In addition to reversion to the mean, the authors suggest that short sellers are perfectly aware of Robinhood trading patterns. “These reversals seem to be well known as stocks Robinhood users herded into attracted significant short interest,” they wrote.

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who's shorting who?
 

shmmeee

Well-Known Member
Just been reading an interesting article about how shorters profit from the robinhood herd.

-------------

The most recent study, “Attention Induced Trading and Returns: Evidence from Robinhood Users,” was published in October and examined trading activity of Robinhood from May 2, 2018, to Aug. 13, 2020. They particularly studied “extreme herding events,” where Robinhood traders crowded into particular stocks.

They concluded that during these extreme “herding events,” “the top 0.5% of stocks bought by Robinhood each day experience return reversals on average of approximately 5% over the next month whereas the more extreme herding events have reversals of approximately 9%.”

The conclusion: “Large increases in Robinhood users are often accompanied by large price spikes and are followed by reliably negative returns.”

Why did that happen? The authors noted that most Robinhood investors are inexperienced, so they tend to chase performance. The layout of the app, which draws attention to the most active stocks, also causes traders to buy stocks “more aggressively than other retail investors.”

Finally, the ease of use of the site, and the fact that it is commission-free, may also encourage trading. “As evidenced by turnover rates many times higher than at other brokerage firms, Robinhood users are more likely to be trading speculatively and less likely to be trading for reasons such as investing their retirement savings, liquidity demands, tax-loss selling, and rebalancing.”

Why do stocks that spike when Robinhood traders pile in so quickly drop off? In addition to reversion to the mean, the authors suggest that short sellers are perfectly aware of Robinhood trading patterns. “These reversals seem to be well known as stocks Robinhood users herded into attracted significant short interest,” they wrote.

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who's shorting who?

Not sure any of those are equivalent to GME though, which is spectacularly over shorted it seems. Even the other joke stocks like AMC and BB aren’t of the same ilk. It’s a once in a lifetime event to hear them say it.

Obviously any random stock that gets bumped by social media will return to the norm, but that’s not what’s happening here.
 
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Deleted member 4439

Guest
Not sure any of those are equivalent to GME though, which is spectacularly over shorted it seems. Even the other joke stocks like AMC and BB aren’t of the same ilk. It’s a once in a lifetime event to hear them say it.

Obviously any random stock that gets bumped by social media will return to the norm, but that’s not what’s happening here.

No, this would be short-term trading on minor pumps - see the hype, bet on the price retracting to near hype price, sell on the way down.
 

Covstu

Well-Known Member
A lot of alarming activity in the market since the gamestop issue with people thinking they can turn £50 to £1m over night.
 

Greggs

Well-Known Member
Not sure any of those are equivalent to GME though, which is spectacularly over shorted it seems. Even the other joke stocks like AMC and BB aren’t of the same ilk. It’s a once in a lifetime event to hear them say it.

Obviously any random stock that gets bumped by social media will return to the norm, but that’s not what’s happening here.
there are plenty of FOMO stocks that the robinhooders chase too, normally speculative ones that they think will hit 10x the second they throw money at it.
 

Greggs

Well-Known Member
A lot of alarming activity in the market since the gamestop issue with people thinking they can turn £50 to £1m over night.
selling 'safe' investments to fund this! It's madness. I'm fearing a market crash.
 

Greggs

Well-Known Member

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