Bald Move Stonks Thread?

edited January 31 in General
There’s been a fair amount of stock talk recently across various shows and I figured I’d see if anyone would have any interest in having an ongoing thread for market talk. What our strategies are, what we’re into, what we think might happen, etc. 

No idea how many of y’all are involved in the market at all, but I guess this can go ahead and be the thread if enough people are into it.
calebthrowerGiovanni

Comments

  • calebthrowercalebthrower South Carolina
    Glad you started this. Like most people, I've gotten super into this mess with $GME and r/wallstreetbets. I've even bought a few shares of $GME and $AMC of my own. I've been using Robinhood and Fidelity. After this craziness has calmed down, I plan to move everything over to Fidelity because what Robinhood did last week was inexcusable. I do want to get more into trading and investing. My main concern is something to invest in for my son's college (he'll be 5 in the summer). What is the best investment for that? IRA, Mutual fund, etc? I'm in my early 30s and just now at a point where I can start doing this so I want to learn as much as I can. This mess with WSB and $GME has been a hell of a lot of fun to see unfold, though!
    RyanReeseman
  • Teresa from ConcordTeresa from Concord Concord, California
    I love that the title of this thread is "Stonks" - sums up the ridiculousness of last week.
  • I love that the title of this thread is "Stonks" - sums up the ridiculousness of last week.
    It's a meme:


    RyanReeseman
  • Glad you started this. Like most people, I've gotten super into this mess with $GME and r/wallstreetbets. I've even bought a few shares of $GME and $AMC of my own. I've been using Robinhood and Fidelity. After this craziness has calmed down, I plan to move everything over to Fidelity because what Robinhood did last week was inexcusable. I do want to get more into trading and investing. My main concern is something to invest in for my son's college (he'll be 5 in the summer). What is the best investment for that? IRA, Mutual fund, etc? I'm in my early 30s and just now at a point where I can start doing this so I want to learn as much as I can. This mess with WSB and $GME has been a hell of a lot of fun to see unfold, though!
    Do you guys have education savings grants in America?  Here you can open an education savings account and you can put up to (something like) $5000 a year of tax-deductible income into the account and the government will match a percentage of your contribution.  If the money ends up not being used for education, your own contribution reverts to taxable income and you have to pay back the government contribution portion.
  • Glad you started this. Like most people, I've gotten super into this mess with $GME and r/wallstreetbets. I've even bought a few shares of $GME and $AMC of my own. I've been using Robinhood and Fidelity. After this craziness has calmed down, I plan to move everything over to Fidelity because what Robinhood did last week was inexcusable. I do want to get more into trading and investing. My main concern is something to invest in for my son's college (he'll be 5 in the summer). What is the best investment for that? IRA, Mutual fund, etc? I'm in my early 30s and just now at a point where I can start doing this so I want to learn as much as I can. This mess with WSB and $GME has been a hell of a lot of fun to see unfold, though!
    Do you guys have education savings grants in America?  Here you can open an education savings account and you can put up to (something like) $5000 a year of tax-deductible income into the account and the government will match a percentage of your contribution.  If the money ends up not being used for education, your own contribution reverts to taxable income and you have to pay back the government contribution portion.

    In the US we have 529 plans that are similar. The specifics very by state (in Colorado the contributions are tax deductible for state - not federal - income) and the actual options also depend on the state you live in, so if you Google "[your state] + 529 plan" you'll get an idea of the options. We have access to a 529 plan with Vanguard funds so low few index funds - which I started out all in an growth stock fund and gradually am balancing to more stable as my son gets older.
    CretanBullGiovanni
  • calebthrowercalebthrower South Carolina
    Glad you started this. Like most people, I've gotten super into this mess with $GME and r/wallstreetbets. I've even bought a few shares of $GME and $AMC of my own. I've been using Robinhood and Fidelity. After this craziness has calmed down, I plan to move everything over to Fidelity because what Robinhood did last week was inexcusable. I do want to get more into trading and investing. My main concern is something to invest in for my son's college (he'll be 5 in the summer). What is the best investment for that? IRA, Mutual fund, etc? I'm in my early 30s and just now at a point where I can start doing this so I want to learn as much as I can. This mess with WSB and $GME has been a hell of a lot of fun to see unfold, though!
    Do you guys have education savings grants in America?  Here you can open an education savings account and you can put up to (something like) $5000 a year of tax-deductible income into the account and the government will match a percentage of your contribution.  If the money ends up not being used for education, your own contribution reverts to taxable income and you have to pay back the government contribution portion.
    MrX said:
    Glad you started this. Like most people, I've gotten super into this mess with $GME and r/wallstreetbets. I've even bought a few shares of $GME and $AMC of my own. I've been using Robinhood and Fidelity. After this craziness has calmed down, I plan to move everything over to Fidelity because what Robinhood did last week was inexcusable. I do want to get more into trading and investing. My main concern is something to invest in for my son's college (he'll be 5 in the summer). What is the best investment for that? IRA, Mutual fund, etc? I'm in my early 30s and just now at a point where I can start doing this so I want to learn as much as I can. This mess with WSB and $GME has been a hell of a lot of fun to see unfold, though!
    Do you guys have education savings grants in America?  Here you can open an education savings account and you can put up to (something like) $5000 a year of tax-deductible income into the account and the government will match a percentage of your contribution.  If the money ends up not being used for education, your own contribution reverts to taxable income and you have to pay back the government contribution portion.

    In the US we have 529 plans that are similar. The specifics very by state (in Colorado the contributions are tax deductible for state - not federal - income) and the actual options also depend on the state you live in, so if you Google "[your state] + 529 plan" you'll get an idea of the options. We have access to a 529 plan with Vanguard funds so low few index funds - which I started out all in an growth stock fund and gradually am balancing to more stable as my son gets older.
    Unfortunately, as best I can tell, the 529 plans we have in South Carolina where I live aren’t great. But admittedly I’m a novice in this area other than some random stock trading. Never really done anything serious. 
  • Glad you started this. Like most people, I've gotten super into this mess with $GME and r/wallstreetbets. I've even bought a few shares of $GME and $AMC of my own. I've been using Robinhood and Fidelity. After this craziness has calmed down, I plan to move everything over to Fidelity because what Robinhood did last week was inexcusable. I do want to get more into trading and investing. My main concern is something to invest in for my son's college (he'll be 5 in the summer). What is the best investment for that? IRA, Mutual fund, etc? I'm in my early 30s and just now at a point where I can start doing this so I want to learn as much as I can. This mess with WSB and $GME has been a hell of a lot of fun to see unfold, though!
    Do you guys have education savings grants in America?  Here you can open an education savings account and you can put up to (something like) $5000 a year of tax-deductible income into the account and the government will match a percentage of your contribution.  If the money ends up not being used for education, your own contribution reverts to taxable income and you have to pay back the government contribution portion.
    MrX said:
    Glad you started this. Like most people, I've gotten super into this mess with $GME and r/wallstreetbets. I've even bought a few shares of $GME and $AMC of my own. I've been using Robinhood and Fidelity. After this craziness has calmed down, I plan to move everything over to Fidelity because what Robinhood did last week was inexcusable. I do want to get more into trading and investing. My main concern is something to invest in for my son's college (he'll be 5 in the summer). What is the best investment for that? IRA, Mutual fund, etc? I'm in my early 30s and just now at a point where I can start doing this so I want to learn as much as I can. This mess with WSB and $GME has been a hell of a lot of fun to see unfold, though!
    Do you guys have education savings grants in America?  Here you can open an education savings account and you can put up to (something like) $5000 a year of tax-deductible income into the account and the government will match a percentage of your contribution.  If the money ends up not being used for education, your own contribution reverts to taxable income and you have to pay back the government contribution portion.

    In the US we have 529 plans that are similar. The specifics very by state (in Colorado the contributions are tax deductible for state - not federal - income) and the actual options also depend on the state you live in, so if you Google "[your state] + 529 plan" you'll get an idea of the options. We have access to a 529 plan with Vanguard funds so low few index funds - which I started out all in an growth stock fund and gradually am balancing to more stable as my son gets older.
    Unfortunately, as best I can tell, the 529 plans we have in South Carolina where I live aren’t great. But admittedly I’m a novice in this area other than some random stock trading. Never really done anything serious. 

    I'd say it's probably still worth it if they offer some sort of target date fund or something like that. The earnings aren't taxed when used for education expenses so that's a huge benefit, especially if the fund more or less follows the market and you're investing for 10+ years.
  • calebthrowercalebthrower South Carolina
    MrX said:
    Glad you started this. Like most people, I've gotten super into this mess with $GME and r/wallstreetbets. I've even bought a few shares of $GME and $AMC of my own. I've been using Robinhood and Fidelity. After this craziness has calmed down, I plan to move everything over to Fidelity because what Robinhood did last week was inexcusable. I do want to get more into trading and investing. My main concern is something to invest in for my son's college (he'll be 5 in the summer). What is the best investment for that? IRA, Mutual fund, etc? I'm in my early 30s and just now at a point where I can start doing this so I want to learn as much as I can. This mess with WSB and $GME has been a hell of a lot of fun to see unfold, though!
    Do you guys have education savings grants in America?  Here you can open an education savings account and you can put up to (something like) $5000 a year of tax-deductible income into the account and the government will match a percentage of your contribution.  If the money ends up not being used for education, your own contribution reverts to taxable income and you have to pay back the government contribution portion.
    MrX said:
    Glad you started this. Like most people, I've gotten super into this mess with $GME and r/wallstreetbets. I've even bought a few shares of $GME and $AMC of my own. I've been using Robinhood and Fidelity. After this craziness has calmed down, I plan to move everything over to Fidelity because what Robinhood did last week was inexcusable. I do want to get more into trading and investing. My main concern is something to invest in for my son's college (he'll be 5 in the summer). What is the best investment for that? IRA, Mutual fund, etc? I'm in my early 30s and just now at a point where I can start doing this so I want to learn as much as I can. This mess with WSB and $GME has been a hell of a lot of fun to see unfold, though!
    Do you guys have education savings grants in America?  Here you can open an education savings account and you can put up to (something like) $5000 a year of tax-deductible income into the account and the government will match a percentage of your contribution.  If the money ends up not being used for education, your own contribution reverts to taxable income and you have to pay back the government contribution portion.

    In the US we have 529 plans that are similar. The specifics very by state (in Colorado the contributions are tax deductible for state - not federal - income) and the actual options also depend on the state you live in, so if you Google "[your state] + 529 plan" you'll get an idea of the options. We have access to a 529 plan with Vanguard funds so low few index funds - which I started out all in an growth stock fund and gradually am balancing to more stable as my son gets older.
    Unfortunately, as best I can tell, the 529 plans we have in South Carolina where I live aren’t great. But admittedly I’m a novice in this area other than some random stock trading. Never really done anything serious. 

    I'd say it's probably still worth it if they offer some sort of target date fund or something like that. The earnings aren't taxed when used for education expenses so that's a huge benefit, especially if the fund more or less follows the market and you're investing for 10+ years.
    Cool. I'll look at it more closely again. Thanks for the advice!
  • So uhh, diamond hands?  :|
  • gguenot said:
    So uhh, diamond hands?  :|

    Yikes.

    I have an old rollover IRA account that I just had in a total stock market index fund for the last 7 years - it's grown ~2.5x in that time. Decided last month to put a little bit of that into a brokerage account so I could buy stocks - things like crypto- adjacent companies, electric car companies, a couple of airlines. Last week I bought a few shares of Gamestop for fun, of course at way too high of a price,  and yea it's looking like I may have set that money on fire. 

    I think I'll stick to the low-cost index funds mantra for long term gains and keep working the 9-5 in the meantime.
    gguenotA_Ron_Hubbard
  • MrX said:
    gguenot said:
    So uhh, diamond hands?  :|

    Yikes.

    I have an old rollover IRA account that I just had in a total stock market index fund for the last 7 years - it's grown ~2.5x in that time. Decided last month to put a little bit of that into a brokerage account so I could buy stocks - things like crypto- adjacent companies, electric car companies, a couple of airlines. Last week I bought a few shares of Gamestop for fun, of course at way too high of a price,  and yea it's looking like I may have set that money on fire. 

    I think I'll stick to the low-cost index funds mantra for long term gains and keep working the 9-5 in the meantime.
    Yeah I decided I'd throw $50 in a brokerage account and go to r/wallstreetbets, sort by new, and literally buy the first stock I saw mentioned that wasn't Blackberry, Gamestop, or AMC. I'm happy to report that my $50 is now worth

    Drumroll please

    $46. 

    Yup. I will continue to put my actual investment money into index funds lol. 
    MrXA_Ron_Hubbard
  • asmallcat said:
    MrX said:
    gguenot said:
    So uhh, diamond hands?  :|

    Yikes.

    I have an old rollover IRA account that I just had in a total stock market index fund for the last 7 years - it's grown ~2.5x in that time. Decided last month to put a little bit of that into a brokerage account so I could buy stocks - things like crypto- adjacent companies, electric car companies, a couple of airlines. Last week I bought a few shares of Gamestop for fun, of course at way too high of a price,  and yea it's looking like I may have set that money on fire. 

    I think I'll stick to the low-cost index funds mantra for long term gains and keep working the 9-5 in the meantime.
    Yeah I decided I'd throw $50 in a brokerage account and go to r/wallstreetbets, sort by new, and literally buy the first stock I saw mentioned that wasn't Blackberry, Gamestop, or AMC. I'm happy to report that my $50 is now worth

    Drumroll please

    $46. 

    Yup. I will continue to put my actual investment money into index funds lol. 
    Just a heads up....Wallstreetbets is notorious for giving out horrifically bad advice.
  • I would highly recommend that nobody listen to anything that r/wallstreetbets says.

    I hope nobody here bought in too heavy to GME. I bought 2 shares @ $193 for shits and giggles and sold them @ $334. 

    I’m very heavy on AMC right now though and it’s because I have been for years. They went into $5B of debt on purpose in an attempt to completely revamp their business model, launch a subscription service (which is fucking excellent), and were scheduled to start operating in the black for the first time in 5 years at the beginning of 2020 and then a worldwide pandemic just fucked it all up. 

    I’ve lost so much profit on AMC since the beginning of 2020 and still haven’t sold any of my shares and have only added to my position. I think it’s an actual sound investment, whereas GME was never going to be anything more than a memestock 
    MrX
  • I’m very over-invested in innovative growth tech stocks right now, and I’ve been taking a beating while everyone has been trying to catch these dumb-money run ups. 

    Anyone else in BNGO or NNDM?
  • Anybody got any good Youtube recommendations? Mine is TheWalrus Street. He talks about penny stocks a fair amount, but not in a pump and dump kind of way. He does a pretty good job of doing technical analysis of a company and gives objective reasons why it will go up or down instead of just saying BUY NOW GO GO GO. He also covers other companies he is interested and brought Stratasys to my attention, which has only made me money so far. Any other recommendations? 

    Also, to answer your question @RyanReeseman, I'm in on BNGO which was brought to my attention by...TheWalrus Street. 
  • Just a heads up....Wallstreetbets is notorious for giving out horrifically bad advice.
    Oh I know. That's why I only spent an amount of money I'd never miss lol. Figured it would be funny and, who knows, maybe it becomes the next meme stop and I make $100. 
  • I’m very over-invested in innovative growth tech stocks right now, and I’ve been taking a beating while everyone has been trying to catch these dumb-money run ups. 

    Anyone else in BNGO or NNDM?

    I'm lucky that my current 401k has access to a mutual fund I'm pretty high on - T Rowe Price's New Horizon Fund. They invest primarily in small emerging companies and focus on aggressive growth. I figure they're a lot better a picking stocks than I am - their track record since the 2008 crash is pretty great compared to the S&P. Not sure if personal investors can buy in but I'd recommend looking into similar funds of you're looking for growth (and more risk) than a traditional index fund.

    I know picking stocks for small $$ is fun, but this seems like the better long term strategy to me!




    Giovanni
  • MrX said:
    Glad you started this. Like most people, I've gotten super into this mess with $GME and r/wallstreetbets. I've even bought a few shares of $GME and $AMC of my own. I've been using Robinhood and Fidelity. After this craziness has calmed down, I plan to move everything over to Fidelity because what Robinhood did last week was inexcusable. I do want to get more into trading and investing. My main concern is something to invest in for my son's college (he'll be 5 in the summer). What is the best investment for that? IRA, Mutual fund, etc? I'm in my early 30s and just now at a point where I can start doing this so I want to learn as much as I can. This mess with WSB and $GME has been a hell of a lot of fun to see unfold, though!
    Do you guys have education savings grants in America?  Here you can open an education savings account and you can put up to (something like) $5000 a year of tax-deductible income into the account and the government will match a percentage of your contribution.  If the money ends up not being used for education, your own contribution reverts to taxable income and you have to pay back the government contribution portion.
    MrX said:
    Glad you started this. Like most people, I've gotten super into this mess with $GME and r/wallstreetbets. I've even bought a few shares of $GME and $AMC of my own. I've been using Robinhood and Fidelity. After this craziness has calmed down, I plan to move everything over to Fidelity because what Robinhood did last week was inexcusable. I do want to get more into trading and investing. My main concern is something to invest in for my son's college (he'll be 5 in the summer). What is the best investment for that? IRA, Mutual fund, etc? I'm in my early 30s and just now at a point where I can start doing this so I want to learn as much as I can. This mess with WSB and $GME has been a hell of a lot of fun to see unfold, though!
    Do you guys have education savings grants in America?  Here you can open an education savings account and you can put up to (something like) $5000 a year of tax-deductible income into the account and the government will match a percentage of your contribution.  If the money ends up not being used for education, your own contribution reverts to taxable income and you have to pay back the government contribution portion.

    In the US we have 529 plans that are similar. The specifics very by state (in Colorado the contributions are tax deductible for state - not federal - income) and the actual options also depend on the state you live in, so if you Google "[your state] + 529 plan" you'll get an idea of the options. We have access to a 529 plan with Vanguard funds so low few index funds - which I started out all in an growth stock fund and gradually am balancing to more stable as my son gets older.
    Unfortunately, as best I can tell, the 529 plans we have in South Carolina where I live aren’t great. But admittedly I’m a novice in this area other than some random stock trading. Never really done anything serious. 

    I'd say it's probably still worth it if they offer some sort of target date fund or something like that. The earnings aren't taxed when used for education expenses so that's a huge benefit, especially if the fund more or less follows the market and you're investing for 10+ years.
    Cool. I'll look at it more closely again. Thanks for the advice!

    As far as I'm aware, you don't have to use the fund for the state you are in.  There may be state tax benefits you miss out on (again varies on the state you are in) but the money itself can be invested elsewhere. 

    Someone like Vanguard would be a great place to look at too.  They're a big player in investing, but with the benefit that it is a co-op (the people who invest there own the company). https://investor.vanguard.com/529-plan/

    I don't work for them, but I've had my non-401k investments with them for decades now and no complaints.

    calebthrowerGiovanni
  • Dummy said:
    Anybody got any good Youtube recommendations? Mine is TheWalrus Street. He talks about penny stocks a fair amount, but not in a pump and dump kind of way. He does a pretty good job of doing technical analysis of a company and gives objective reasons why it will go up or down instead of just saying BUY NOW GO GO GO. He also covers other companies he is interested and brought Stratasys to my attention, which has only made me money so far. Any other recommendations? 

    Also, to answer your question @RyanReeseman, I'm in on BNGO which was brought to my attention by...TheWalrus Street. 
    Look up Chris Sain on YouTube. I’ve never seen him miss, and I’ve made a lot of money on his plays.
    Dummy
  • There are a few tools out there that allow you to compare 529 plans across states to see which is the best plan for you. For example: https://internal-search.ecs.org/comparisons/529-education-savings-plans-all unfortunately it only shows in state benefits and not fees. In some cases a plan with lower fees might beat the in state benefits (if you qualify). The Vanguard 529 is a NV based plan, and what I opened for my kid because of the low fees and because I already invest with them.

    Two benefits of 529s that you should know about. 1. The money is counted against your child at about 5.6% of the account value when it comes to financial aid, which was better than every other college plan I looked at. 2. If your kid doesn't go to college you can transfer the plan to another kid or use it for your own education expenses, or withdraw the money for non-qualified expenses paying a penalty. 

    It's a pretty flexible tool and definitely worth considering, especially if you qualify for extra benefits from your state. 
  • FreddyFreddy Denton, Texas

    A_Ron_HubbardBen
  • asmallcat said:
    Yeah I decided I'd throw $50 in a brokerage account and go to r/wallstreetbets, sort by new, and literally buy the first stock I saw mentioned that wasn't Blackberry, Gamestop, or AMC. I'm happy to report that my $50 is now worth

    Drumroll please

    $46. 

    Yup. I will continue to put my actual investment money into index funds lol. 
    By the way everyone, my $50 is now worth $51. 

    BOW BEFORE THE GOD OF STONKS, PUNY MORTALS, AND DESPAIR!  
    CretanBullDeeRyanReesemanBenFreddyChinaski
  • edited February 5
    asmallcat said:
    By the way everyone, my $50 is now worth $51. 

    BOW BEFORE THE GOD OF STONKS, PUNY MORTALS, AND DESPAIR!  
    $60 now. At last, I finally know what it is like to be among the wealthy and powerful. Farewell, peasants, I shall leave you to your squalor. 

    Edit - and I promise this is the last update, unless it tanks, in which case I will let everyone know for the lols. 
    CretanBullChinaskiGiovanni
  • I'm a big fan of periodic contrarian investing, i.e. zigging when everyone else is zagging.  Especially when there are large, unforeseen events which affect a company or the entire market.  In my experience, investors tend to oversell and there are great opportunities to pick up solid assets at an incredible value (or make some short-term speculative bets).  I only do this when an opportunity comes along and try not to chase this strategy, in the meantime I stay invested in big tech, financials, etc.

    A couple of plays I made this year:
    - RIG (Transocean) - Big, risky investment when oil stocks were getting hammered.  Oil storage capacity was running out due to the pandemic demand collapse and the offshore drilling industry's long term outlook isn't great.  However, this stock seemed like it had been really oversold.  Hugely speculative bet but I made 2.5X when I sold.

    - SKT (Tanger Factory Outlets) - These guys got absolutely hammered when retail demand collapsed due to covid.  I live near a big outlet mall and could see how packed that place always was pre-covid and figured the demand would be back at some point.  I invested early this summer and it has returned 117% so far.

    Here's one that I missed out on:
    - PCG (PG&E) - After PG&E took the brunt of the blame for the CA wildfires (undeservedly so in my opinion), the stock dropped to like $5.00.  But what are you going to do, spin up a brand new utility in CA overnight?  The stock quickly went back up to $18.  Now, it's been bouncing around ever since and I wouldn't plan on holding utility stock for the long term, but that 3X short term return would have been nice.
     
    blacksunrise7
  • Meme stocks for life!

    Speaking of, I sold all my ($50) shares in tech stocks, and am now all in on a Canadian marijuana company. 

    To the moon! 
    calebthrower
  • calebthrowercalebthrower South Carolina
    asmallcat said:
    Meme stocks for life!

    Speaking of, I sold all my ($50) shares in tech stocks, and am now all in on a Canadian marijuana company. 

    To the moon! 
    Honestly that's not a bad move. Anything marijuana has potential. It's a matter of time, in my opinion, before it is decriminalized nation wide (US) if not out right legalized. If/when that happens those will explode. I'm in on KERN (Akerna) which is one of the few companies creating a marijuana inventory system. Lots of dispensaries already use it and I expect more will also.
  • edited February 25
    asmallcat said:
    Meme stocks for life!

    Speaking of, I sold all my ($50) shares in tech stocks, and am now all in on a Canadian marijuana company. 

    To the moon! 
    Honestly that's not a bad move. Anything marijuana has potential. It's a matter of time, in my opinion, before it is decriminalized nation wide (US) if not out right legalized. If/when that happens those will explode. I'm in on KERN (Akerna) which is one of the few companies creating a marijuana inventory system. Lots of dispensaries already use it and I expect more will also.
    Honestly, that's kind of what I was thinking. Have some fun and maybe make enough to pay for, like, 1/2 a new xbox.

    Edit - I should say, I consider turning 50 into 250 a pie in the sky best case scenario lol. 

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