Stocks and Trading Thread - Channeling your inner Mono

[Threviel]

So, I've decided to take all my fun* savings, about 200$ and invest in meme stocks. What's the strategy people use?

*I sold my old Amiga for about 100$ five or so years ago, put the money in a small internet bank and invested in index funds, just to try out that broker.

[Josquius]

So, I've decided to take all my fun* savings, about 200$ and invest in meme stocks. What's the strategy people use?

*I sold my old Amiga for about 100$ five or so years ago, put the money in a small internet bank and invested in index funds, just to try out that broker.

Find a time machine to skip back a week or two or cross your fingers and wait for them to come back down again.

For me this time around it was Blackberry, which at its low single figure prices was a decent long term buy anyway. And a (sadly very small) amount of AMC as it was also at a reasonable price and cinemas reopening seemed a natural winner.

Though hey, I'm overly careful.

My general strategy... yeah. Look at the various sub-reddits.  See what is trending with decent and believable writeups by established posters behind it. Read up on them elsewhere to see if they are viable. And if the price is currently reasonable so you're unlikely to really lose much if it doesn't go anywhere then go for it.

[Threviel]

Yes, it was prompted last week by me going into wallstreetbets for the first time, noticed that they talked about blackberry, noticed that what they said made sense, wanted to buy but my money was locked into the index funds. Day after blackberry is up 35%...

[Tamas]

IIRC AMC was struggling even pre-pandemic so it was never more than a gamble, Tyr :p

[Josquius]

IIRC AMC was struggling even pre-pandemic so it was never more than a gamble, Tyr :p

First time around yes. But the last time it shot up alongside the first big GME spike there was a lot reported about how its business was saved, its debt problems were solved, etc....
Yet still it fell back into mid-single figures.
Honestly I wasn't expecting it to go up again and sold it way too early. Thought I was just going to get a few dollars off it.

[Threviel]

Some of the companies they talk about are not necessarily stupid investments. Sure, not something I would normally invest in, but anyway. Take Clover Health Investments, Corp. for example. Someone is trying to get that to lift, and if it lifts AMC-style then it's an excellent investment. If it doesn't lift the value should hold somewhat in the short to middle term and the gamble holds far less risk than AMC...

On the other hand, I'm an engineer, I'm probably talking out of my ass.

[Admiral Yi]

What's the strategy people use?

Split strike conversion.

[Threviel]

What's the strategy people use?

Split strike conversion.

Come again?

[Admiral Yi]

Come again?

I'm jerking your chain.

"Split strike conversion" is the strategy Bernie Madoff claimed to be using for his Ponzi scheme.

[Threviel]

I'm jerking your chain.

"Split strike conversion" is the strategy Bernie Madoff claimed to be using for his Ponzi scheme.

[Habbaku]

So, I've decided to take all my fun* savings, about 200$ and invest in meme stocks. What's the strategy people use?

*I sold my old Amiga for about 100$ five or so years ago, put the money in a small internet bank and invested in index funds, just to try out that broker.

If you're going to invest in meme stocks, pick one of the ones that WSB is hyping up in the near future and roll the dice on calls/puts. If you're gambling, why not go for the gold?

[Admiral Yi]

I was going to say one advantage of buying options is you don't have to fuck around with diamond hands and paper hands, but I realized that's not true.  If your option is in the money you very much have to worry about those things.

Another advantage of selling options. 

[Tamas]

Threviel for the love of God do not sell uncovered calls.

[Threviel]

I will not do anything fancy, either all in on some stock or back into my funds. Looks like CLOV for now, I will decide when I get access to the cash.

It's just 200$ and it's just for fun.

[Threviel]

So... I laid my order for CLOV, apparently I had 254$ so I put in an order for 21 stocks for 11,94. To the stonk and up!