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Blazin

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Fun little trade would have made more if stupid market didn't wait till AH friday to bottom.

I"m out QQQ thanks for the fish
View attachment 545122

I think topped it again.
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Always fun to see it but bulls have some room to play with here, may even close the gap fully and go to flat before it makes a decision. My appetite for extended games right now is small
 
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Jysin

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Youve got a knack for selling tops. Impressive really.

Anyone's guess where we go from here.
 
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Sanrith Descartes

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GOOGL RSI hit 27. Added a bit to my position. It doesn't have any real support until $139 so this is strictly going off RSI which is why its a small purchase.
 

Blazin

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Youve got a knack for selling tops. Impressive really.

Anyone's guess where we go from here.
Thanks it can be challenging at times due to my OCD about round numbers. My actual read was that we would top at $454.93 but gave it a chance to hit my non jimmy rustling number.
 
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Big Phoenix

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We end up in a correction nobody is going to be in the mood for GME shenanigans , time for that is when this thread is getting new posters talking about how much money they are making.
Come on everyone loves a ponzi scheme until it blows up.
 

Blazin

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Not sure what to do with price action today, looks like we are going to form an inside bar on the day. Lean towards nothing, inflation report is Wednesday we might just sit here doing nothing.
 

Sanrith Descartes

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This is one of those interesting scenarios that like the laws just aren't written for. He did the same thing last week. Two 5000 contracts and then dumped them for profits. Kitty is a cult of personality but that in and of itself isn't a crime. His buying options and then tweeting "hey I bought these options" isn't a crime. We assume he isn't trading on insider info. Literally what he does is the same as was Blazin Blazin does here. Just at a much larger scale. Posting his trades to his followers.

I know why the Feds and Wall Street hate him but I love the guy. He found a loophole in the system and he is gaming the shit out of it for tens of millions.
 
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Blazin

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This is one of those interesting scenarios that like the laws just aren't written for. He did the same thing last week. Two 5000 contracts and then dumped them for profits. Kitty is a cult of personality but that in and of itself isn't a crime. His buying options and then tweeting "hey I bought these options" isn't a crime. We assume he isn't trading on insider info. Literally what he does is the same as was Blazin Blazin does here. Just at a much larger scale. Posting his trades to his followers.

I know why the Feds and Wall Street hate him but I love the guy. He found a loophole in the system and he is gaming the shit out of it for tens of millions.
That's all true as long as he doesn't coordinate with anyone else. I think that is the unknown, my guess is no. He is just a shit lord having fun not having super secret meetings with hedge funds.

I kind of want to renter market here for another day trade. we have resistance 4 pts up on SPY just not sure the juice is worth the squeeze or just leave well enough alone.
 
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Sanrith Descartes

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That's all true as long as he doesn't coordinate with anyone else. I think that is the unknown, my guess is no. He is just a shit lord having fun not having super secret meetings with hedge funds.

I kind of want to renter market here for another day trade. we have resistance 4 pts up on SPY just not sure the juice is worth the squeeze or just leave well enough alone.
I look at the guy and think "this is America". Guy took his 65k in life savings and invested it in a shit company because he thought it was a value. Had an idea, belief in the idea and risked his cash on his idea. $100+ million later he is still playing the game. Same path as Musk. Put everything he had into PYPL (or what turned into PYPL), cashed out and put every dime in TSLA. You gotta risk big to win big.
 
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Jysin

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So, Apple just presented their new phone with the long awaited AI (apple intelligence).

They dropped the bombshell it is releasing in beta status! This is NOT the usual Apple way. They are typically late to the game with an ultra polished product.

SELL THE NEWS, in my opinion.
 
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Arden

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That's all true as long as he doesn't coordinate with anyone else. I think that is the unknown, my guess is no. He is just a shit lord having fun not having super secret meetings with hedge funds.

I kind of want to renter market here for another day trade. we have resistance 4 pts up on SPY just not sure the juice is worth the squeeze or just leave well enough alone.

The danger for Gill is that the government decides to suddenly "modify" their interpretation of what "coordinate" means. Something like: "changes in technology and the nature of social media require that we reevaluate what it means to illicitly coordinate when it comes to securities laws" Or some such.

And if you think the government wouldn't do something like that and not think twice, think again
 

Blazin

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So, Apple just presented their new phone with the long awaited AI (apple intelligence).

They dropped the bombshell it is releasing in beta status! This is NOT the usual Apple way. They are typically late to the game with an ultra polished product.

SELL THE NEWS, in my opinion.
I've lost track of how many of these I have watched over the years, just getting bored of +1 betterer even if some of the tech is impressive. I'm still a holder and don't see that changing at this time, but it is all rather yawn inducing.
 
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Sanrith Descartes

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I've lost track of how many of these I have watched over the years, just getting bored of +1 betterer even if some of the tech is impressive. I'm still a holder and don't see that changing at this time, but it is all rather yawn inducing.
AAPL appeals to the lemmings. This is why I own it. I literally haven't used an AAPL product in 10+ years
 
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Creslin

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The danger for Gill is that the government decides to suddenly "modify" their interpretation of what "coordinate" means. Something like: "changes in technology and the nature of social media require that we reevaluate what it means to illicitly coordinate when it comes to securities laws" Or some such.

And if you think the government wouldn't do something like that and not think twice, think again
They are definitely going to do this. Does the guy really add value the way musk or a real entrepreneur does though? Initially sure he blew up some shorts on unfairly shorted companies but recently he just pumps and dumps.

regarding appl I would worry the same thing happening to google will happen to them. The walled sandbox being broken into would wreck their revenue.
 

Sanrith Descartes

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They are definitely going to do this. Does the guy really add value the way musk or a real entrepreneur does though? Initially sure he blew up some shorts on unfairly shorted companies but recently he just pumps and dumps.

regarding appl I would worry the same thing happening to google will happen to them. The walled sandbox being broken into would wreck their revenue.
I wasn't comparing the two in terms of brains or talent. I was only comparing them as people who put every dime into their ideas.
 

Creslin

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I wasn't comparing the two in terms of brains or talent. I was only comparing them as people who put every dime into their ideas.
Gotcha. I guess I come down on the side of is his behavior really something that should be encouraged and I come down pretty firmly on the side of no it shouldn’t be encouraged and then my follow up question is is it so bad that it is something that should be legislated against and there I am less sure since I think his followers need to have agency and bear responsibility too.
 
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Rangoth

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The entire GME thing was amazing at all levels. This dude, and no matter what you think of him, was essentially a nobody who posted a massive GME position with why he thinks the company could be awesome. This position and his post lived for months or almost a year if I remember reading the story correctly. Then, for apparently no reason, the thing gets necro's and because gamers are autistic, they want to crush the big corporations/banks and they push GME to an absolutely unfounded price in a short squeeze, making this dude a multi-millionaire many times over.

During this process the big corp./banks pulled out all stops to try and curb the pain. All the funky shit with halts but somehow massive sells still going through. Then he gets brought before congress...wtf?

Then he tried to do it again, but this time they were ready. The needle barely moved and to put a beautiful amount of icing on the cake, GME does a surprise early release of earnings(which sucked of course) *AND* announces an absolutely monumental share offering creating enough dilution to avoid any problems. Sure....that was planned and totally normal.

I would bet someone made a phone call to the CEO/board members that if they do this they'll all get some perfectly legal side payout. The entire thing reeked to the high heavens. The little guy will *never* win at scale.

Good for him for sure, but just like politics and trump revealed the deep state for what it is, this event absolutely shed light on the fact that when someone needs a piece of the market to go a certain way, it absolutely can happen.

Anyway, sorry for derail.

I also believe we seeing a fake crawl up that will revert, took a smaller short position on QQQ, plan to sell if it's worth 4.00$ or close to break even if I'm wrong.

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