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Misc Stock Market

Took a large position on what I thought was a good dip this morning then the market took a ----. Bailed after the flash crash. Waited on it to recover a hair before I took my $400 loss. GME is unphased. Market appears to be in trouble. #IKnewBetter
 
Jimmy Hypocracy said:
Took a large position on what I thought was a good dip this morning then the market took a orange. Bailed after the flash crash. Waited on it to recover a hair before I took my $400 loss. GME is unphased. Market appears to be in trouble. #IKnewBetter
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Rain cold plans to meet with us to teach us how to be millionaires like him. Cant wait
 
I think they're going to suspend GME this weekend for a while (although the volume there has calmed down over the past couple days) and you're going to see bigger money quietly exit the market during one more rally kind of like what we saw for nearly 3 months for a few weeks in February.

If they had just let it go, based off what I can understand, it would've been an absolute dumpster fire. It possibly could cause a liquidity crisis. So they're going to let big money prepare and then let the market tank.
 
Yeah I don't have Robinhood. I have a TDA and Schwab account, but this story is still so interesting that they might be having significant issues.

I'm thinking that I might need to get out of a couple of my more "fun" things in Schwab soon (though my more "fun" things are boring compared to the GME story LOL) and read up on hedging with the other.

But really, something that last year taught me is I need to use more patience. Maybe the Citadel stuff I've heard about is false, who knows...
 
GeorgiaGirl said:
Yeah I don't have Robinhood. I have a TDA and Schwab account, but this story is still so interesting that they might be having significant issues.

I'm thinking that I might need to get out of a couple of my more "fun" things in Schwab soon (though my more "fun" things are boring compared to the GME story LOL) and read up on hedging with the other.

But really, something that last year taught me is I need to use more patience. Maybe the Citadel stuff I've heard about is false, who knows...
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Make sure you get all your ducks in a row and protect the cash you can't afford to lose at all costs. I always say to never bet what you can't afford to lose.
 
Shawn said:
Make sure you get all your ducks in a row and protect the cash you can't afford to lose at all costs. I always say to never bet what you can't afford to lose.
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Plus, there are a bunch of quacks on Twitter, saying all kinds of unconfirmed stuff.
 
GME is completely unphased by what’s going on in the broader market. This 100% exposes how fake the stock market really is. When they say your stocks can go up, that’s when they go up. When they say it’s time to go down, there they go. They lost total control of GME and we are now living in the upside down. I’m loving every minute of it.
 
Ummm...

CNBC Now on Twitter: "BREAKING: Robinhood now limiting trading in 50+ stocks, including GM, Beyond Meat, and Starbucks https://t.co/x7Ql64EzKv https://t.co/8WhAxy61sp" / Twitter

I think Robinhood is f'd folks. Vlad has to be lying through his teeth. They have to be toast with this just being damage control before they go bankrupt soon. Guessing that Citadel is also having significant issues, and that's a freaking market maker. It's amazing that I'm really not hearing much on this topic here, as this is an absolutely massive issue.

My next question since I've never touched Robinhood would be is money in Robinhood even FDIC insured?

I think y'all did, but anybody that didn't that was in Robinhood needs to get out.
 
GeorgiaGirl said:
Ummm...

CNBC Now on Twitter: "BREAKING: Robinhood now limiting trading in 50+ stocks, including GM, Beyond Meat, and Starbucks https://t.co/x7Ql64EzKv https://t.co/8WhAxy61sp" / Twitter

I think Robinhood is f'd folks. Vlad has to be lying through his teeth. They have to be toast with this just being damage control before they go bankrupt soon. Guessing that Citadel is also having significant issues, and that's a freaking market maker. It's amazing that I'm really not hearing much on this topic here, as this is an absolutely massive issue.

My next question since I've never touched Robinhood would be is money in Robinhood even FDIC insured?

I think y'all did, but anybody that didn't that was in Robinhood needs to get out.
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Trying to move to WeBull but I’ve got some trades to settle in Robinhood before I do
 
GeorgiaGirl said:
I think Robinhood is f'd folks. Vlad has to be lying through his teeth. They have to be toast with this just being damage control before they go bankrupt soon. Guessing that Citadel is also having significant issues, and that's a freaking market maker. It's amazing that I'm really not hearing much on this topic here, as this is an absolutely massive issue.

My next question since I've never touched Robinhood would be is money in Robinhood even FDIC insured?

I think y'all did, but anybody that didn't that was in Robinhood needs to get out.
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They are not FDIC insured, but they are SIPC insured. SIPC is pretty much the FDIC of the investing side of banking.

Robinhood almost surely is done after this. People need to be using a brokerage firm (TD Ameritrade, Fidelity, etc). I have TD and they set some limits today, like no margin buying and limited option trading, but regular people should not be margin buying or buying crazy options anyway. That's why you may see pictures of Robinhood selling someone's position without permission. It's because they got margin called and it is in any broker's right to liquidate positions to pay back the margin loan.

Note: I've heard if you transfer your positions from Robinhood to another trading platform, your positions are frozen for up to 15 days until the transfer is complete. Normally this wouldn't be an issue, except for the insane volatility of GME and the like can cause you to miss out on selling. By the time you have control of your shares, it very well be too late.
 
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