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Anyone trading on the stock market?

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Elly

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Dec 27, 2019
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Has anyone been watching this Gamestop, Nokia stock market short squeeze malarky over recent days? During covid so many amateur traders have taken to Robinhood for day trading but this morning they've halted all trading on Gamestop, Nokia, Blackberry and AMC because of what the reddit group Wallstreetbets have been up to (which isn't illegal btw). Not sure what that'll do to Robinhood's customer numbers.

I'd have had a punt too if I was trading stocks. I do spread betting with IG but that's not the same thing.

Anyone make any money from this latest 'craze'?
 

Noodle

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Dec 24, 2019
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Nah. I invest in the market, but am more of a buy and hold guy. Getting a good laugh out of this, though.
 

Glurin

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Jan 6, 2021
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I've thought about getting into it from time to time. At least back when I had the money to do so. Never actually jumped in though.

Looks like there's calls for congressional hearings over Robinhood shutting down trading of those stocks. From both parties, although even when they're agreeing on something, the democrats continue to irrationally accuse republicans of racism and attempted murder.

But don't worry. Everything is fine because we have a woman for treasury secretary now. Or so goes the message from the white house on this issue.
 
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superdave

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Mar 14, 2020
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Won't someone think of the billionare hedge fund managers? They will never be able to afford that 2nd megayacht now.
 
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Glurin

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Pretty sure the reason this all started is because people were thinking of the billionaire hedge fund managers. :sneaky:
 
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jmervyn

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Mar 24, 2020
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Pretty sure the reason this all started is because people were thinking of the billionaire hedge fund managers. :sneaky:
Yeah, seeing "the bankers" hoist on their own petard used to be the fantasy of the Left. Funny to see the reversal in action.

I discussed Robinhood's actions with my supervisor. His understanding was that they were preventing their own customers from buying foolishly into the 'dump' phase...

... but if you think about it, that behavior is yet another example of corporatist "we know better than you".

Modern Westerners often expect that sort of behavior, even though they might rail against it when it happens. They're equally likely to try to sue the corporation claiming, "why didn't you prevent me from doing something so stupid!?!"

Exhibit A is "Do not use in shower" labels on hair dryers.
 
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Glurin

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So google is now deleting negative reviews of the Robinhood app because it violates their policies by "intentionally trying to drive down the rating".

Now, I don't care much for the practice of review bombing, particularly in cases where the reasons for it have little or nothing to do with the software or service in question. But the point of having a rating system in the first place is to give people an idea of the quality of the product. If there's something wrong with it or the policies surrounding it, you leave a negative review with the intention of bringing the average down if you're rating is lower than said average. That's how this process works. If the company does something with it's software that a lot of people have a problem with, then each and every one of those people have every right to have their opinions be heard. That way the company knows that maybe they did something wrong and can do something to fix the problem.
 
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superdave

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If the socialists get their way, hedge fund managers will always be able to get a minimum wage job that pays 15 bucks an hour.
 

superdave

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15 bucks an hour would be enough for me... if that's after taxes.
Don't be silly. That is pretax and no health insurance so you'll need to work 2.5 jobs just to keep a roof over your head and food on the table. 100 hours per week is doable.
 

Glurin

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Jan 6, 2021
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If the socialists get their way, hedge fund managers will always be able to get a minimum wage job that pays 15 bucks an hour.

Yeah, not so much. Even the CBO, which always drastically underestimates the costs and damages of new legislation and such, has determined that a nation wide $15 minimum wage will at miminum make 1.3 million jobs go bye bye.

Which, you know, is exactly what we need with so many people having already lost their jobs due to lockdowns.
 
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krischan

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A job which cannot provide what's regarded as what you need to survive is not worth doing. Oh, hotel rooms won't be cleaned anymore? I guess it can't be that urgent then, else somebody would pay more.
 
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jmervyn

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Mar 24, 2020
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A job which cannot provide what's regarded as what you need to survive is not worth doing. Oh, hotel rooms won't be cleaned anymore? I guess it can't be that urgent then, else somebody would pay more.
Interestingly enough, not only is it not urgent, but it will be increasingly dealt with through self-service & automation.

Because Western societies increasingly have labor devoted to such non-essential activities. At the moment, politically-minded futurists are claiming that robotic trucking is going to wipe the slate clean of all those nasssty Trump-voting types with Confederate flags on their bumper.

Those that don't rate being sent to the concentration camps which some here doubtlessly anticipate with glee will simply be consigned to Appalachia and the dole.

The proper response to which, of course, is "So cool! Now do public school teachers, actors, musicians, and stockbrokers!" Because if you point out the hypocrisy of one of the Proggy filth by throwing their beloved "learn to code" sneer back in their own teeth, you'll be a RAACICCSSXSSS!!! and banned from social media.
 

Noodle

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Yeah, not so much. Even the CBO, which always drastically underestimates the costs and damages of new legislation and such, has determined that a nation wide $15 minimum wage will at miminum make 1.3 million jobs go bye bye.

Which, you know, is exactly what we need with so many people having already lost their jobs due to lockdowns.
The CBO also estimated wages would increase for 27 million workers. Why did you leave that part out?
 

jmervyn

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Mar 24, 2020
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The CBO also estimated wages would increase for 27 million workers. Why did you leave that part out?
Well, "considerable uncertainty"** is a good point to start. The CBO indicated that those put out of work could actually be zero, or 3.7 million. Does that stack up well against a couple of extra bucks an hour which will only 'lift 1.3 million Americans out of poverty', given that such poverty frequently includes flat-screen TV's, designer sneakers and a car?

The *real* solution is to let individual states set the base minimum wage to correspond to local economies. The fascists would rather die than allow that, because doing so would destroy their strongholds. People would actually find jobs, instead of the current state of affairs where some of my son's co-workers are eager to make their living as checkout clerks and coffee slingers (see my comment earlier response to kris about superfluous labor-centric industries).

** The CBO are easy, but they aren't cheap. They specialize in telling congresscritters something nebulous that won't actually be viewed as an outright lie during the next election cycle.

CATO site said:
 
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Noodle

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Please give us specific, credible, verifiable data on the percentage of people below the poverty line who have flat screen TVs, designer sneakers, and a car.