Being financially independent

Millsy

Another one is Blackberry. Loops will be ecstatic!

benson

I’ve just taken out an extremely modest leveraged short on Tesla. It covers about 80% of the identifiable tesla shares i have in funds.

But I may increase that short position. This is just s simple leveraged derivatives where you cannot lose more than you put in. plus I am only hedging against existing long positions Proper shorting appears to be fucking people quite badly.

C_J

benson This is just s simple leveraged derivatives

Straightforward shooting weekend

benson

The problem with this Wally is that somebody is going to be without a chair when the music stops and the valuation slumps back to realistic levels.

Sure you may have temporarily screwed a hedge fund or 2, but in the long run, like BTC, the villagers wil be left with very expensive monkeys they cannot sell back to anyone

C_J

Never take advice from someone who just guesses at what ETF might stand for!!!

Smallman1

C_J Never take advice from someone who just guesses at what ETF might stand for!!!

More of a KLF fan I must say.

Wally

That’s not totally accurate - it’s 86% owned by short sellers who have to buy the stocks back by law eventually - it’s definitely not a bit coin.

When the short sellers start off loading their positions by buying the shares back and getting rid off them (which you can monitor), you start selling your stocks.

Sure, it’s not a miracle ever growing money tree but there’s money to be made. Just don’t be greedy or the one left with a monkey at the end.

Wally

I found this an interesting read:

bosstrabs

I’d say massive potential for Tesla in the Chinese market in the next 10 years, basically until the CCP decide that they’ve raided their Shanghai Gigafactory for all the useful info on how to produce top electric cars and can banish them in favour of a local competitor.

Fill your boots until you start getting signs like “Tesla may have fallen foul of China’s monopolies regulator”.

C_J

Wally An Equity Transfer Fund (ETF) like Vanguard is what you want.

😂

Wally

https://www.marketwatch.com/investing/stock/GME?mod=refsymb_mw

Currently sitting at 347 bucks (they closed at 147 last night).

Along_the_Wire

Who are you guys using to buy these shares?

C_J

Along_the_Wire great minds

Millsy

Along_the_Wire trading 212.

C_J

What trading platforms are you boys using out of interest?

no-one concerned about the SEC coming after that sub for market manipulation?

Millsy

C_J not really. They would have to unpick the whole retail market. Good luck with that. Plus it would be a retrospective action. And if the long side is market manipulator, surely the short book is too?

Wally

Millsy They can temporarily suspend trade on the stock if they want - unlikely to happen but something to remember. I honestly think that will only galvanise people more though - soon as it re-opens, it’ll go gonzo again.

Wally

Millsy Same.

Millsy

Wally ah yeah, I had forgotten about that. Still….he who dares, Rodders

Wally

Ok, now might be a good time to consider things carefully.

C_J

The stock was suspended multiple times already. They have automatic circuit breaks in place. I think the SEC will definitely be looking at whether this constitutes securities fraud but they will perhaps conclude it’s all good since it was only sophisticated rich players that got burnt, and they know the risks etc. They’ll definitely be a bit worried though about the potential for havoc caused by redditors acting in concert to manipulate markets.

Millsy

C_J well yes, agreed. It’s the mob mentality and social media allowing the ‘stick it to the man’ mentality to percolate. Not sure how they can stop it easily unless they put a blanket ban on retail, which would be very hard as most retail work through a trading intermediary. T212 uses Interactive Brokers for example.

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