Weaponized autism

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As my education has grown, I’ve been managing my own portfolios. Not to brag, but I do okay with it. In a case of right place, right time I seem to have inadvertently caught a break. (Like I did with the AirBnb IPO last month.)

There’s apparently a group of day trading kids on a Reddit group who have determined that if they all coordinate to buy the stocks of companies that are being held short, they can get the prices up and make a killing. Go Google ‘Gamespot’ and see how the stock has jumped a couple thousand percent in the last week. It seems this group has targeted several stocks that it thinks are being heavily shorted. Turns out one of those stocks is one I already have a strong position in. I woke up this morning, looked at my brokerage website, and found that my holdings in that stock were up about 350% overnight. (Whcih means my Roth hit its 2021 target almost 11 months ahead of schedule.) I, of course, don’t hang around and wait for the music to stop….I dump enough shares to get back my investment and the remaining shares are now free to go to the moon or drop like a lead balloon…won’t make a dollars worth of difference to me. If this thing goes the way Gamestop (GME) did, there’s an M82A1 in my future (assuming someone has one in stock somewhere.)

As a survivalist, it seems a tad incongruent to invest in the market when I  have a reasonable belief that it’s going to come down like a house of cards. I see that…but, I’ve been wrong before so I hedge my bets..I buy equities, I buy silver, I buy materiel, and I hold cash. That way I’m covered no matter what happens. Although life has a way of surprising you with things you never foresaw.

Anyway, I’m watching the markets closely for the next few days and searching my vendors for an M82A1…just in case the stars line up and this goes the way I would like.

24 thoughts on “Weaponized autism”

  2. It’s a really fun time to watch stocks, as these Gen Z small retail investors try and stick it to the Boomers and hedge fund guys.

    Congrats if you got into AMC or Gamestop on time. I’m big into Nokia (NOK). I also hear SLV may be the next target for big gains, which is also interesting from the perspective of someone who also owns some physical silver.

    As with any gamble, do your own research and don’t risk more than you can afford to lose.

  3. Classic Firearms has them in stock. They have given two away in the last 5 month’s. Those things are a beast. Biggest thing right now. I have seen the ammo at $50 for ten rnds.

    • So about the same as regular ammo for a deer rifle…. 😉 (I’m kidding, sorta, as I did see normal big game hunting calibers getting near there last week.)

      For some reason PSA (or gunwinner) has linked .50 in their eblast emails for the last couple of weeks. There can’t possibly be that many .50 owners that don’t already have what they need, that it makes sense to bulk advertise, can there?

      nick

      (and for anyone looking at crypto, paypal lets you buy and sell inside your paypal account, although you can’t use it directly for payment yet. NO IDEA if that is a good thing/idea or a good price but it sure widens the field.)

    • I thought 50 BMG was typically running at $5/round (2019 pricing), so by today’s standards that’s a great price.

      • Locally, I’m seeing it for $4 to $6 a round on store shelves (my local gun shop has more of it than anything except 12 gauge birdshot). I’ve seen places online where it sell for about $3 a round.

  4. CZ, if you think you might really be in line for a .50 purchase sooner than later, you should consider buying a small lot or two of .50 ammunition for speculation or as a foundation for your personal use. Better to have it than not if you make a move to go big. I have in the past bought ammunition for firearms I did not at that time own, but most of the time it was a wise purchase and at worst I had to trade it for other shooting ammo I could use. As .50 is still out there and I have seen ball for $3-$3.50 and up in ammo can size depending on the type of bullet, you might consider this. From reading your blog for several years your weak spot is firearms, and you can’t deny that….best, redclay7

    • I’m thinking about doing that, especially if I can catch cases on Gunbroker for less. If you watch, sometimes a case will sell for $225 plus shipping.

  5. Looks like the banksters got scared and started pulling plugs. Robinhood even sold out his merry men.

    • Saw that. Im guessing many of the trading platforms got leaned on hard to slow down the gold rush. I use eTrade and havent seen any speed bumps put into place, so I’m still playing along…although at a very reduced volume. I got all my money out yesterday before AMC came back to earth today.

  6. I’m a total noob about whatever it is you call the area around what happened to Gamestop and the hedge fund. Could some kind soul provide key words for me to search so I can get education on this? If I wanted to be in the position CZ was in to take advantage of this, what would I have to know or be able to do? Feel free to just throw words out so I can figure it out later. Anything is appreciated.

    • https://threadreaderapp.com/thread/1353951035224694785.html

      Its mostly luck for me. I figured AMC, a theater chain, would come back once Wuhan Flu restrictions eased and people would start going to theaters again. So, I bought a few hundred shares of the AMC stock when it was around $3-$5 a share last summer. Turned out AMC was one of the stocks the Reddit gang targetted in their ‘screw the short sellers’ campaign. I just happen to be in the right place with a buncha shares I bought around $4 and the new interest in the stock drove it up to $20. I sold almost my entire position and walked away from the table.

  8. Class action lawsuit for Robinhood. The Winklevoss twins think Yellen or various hedgemen got to them this morning. Way to kill your business. Cowards. We knew the system was rigged, but holy crap. They’re censoring our speech, our vote, and now our money.

  9. Maybe raise your goals from the Barret to a M2,about the only thing better to shoot was my 155mm howitzer(red bag or rocket assist round was the best)

    • It’s the third time she has introduced this bill. It hasn’t been able to even clear committee in the Democrat controlled house for the last two years.

  11. I think this is part of the response to political games we’ve seen recently. Out political system may officially have 2 parties, but in practice there are many more, with tensions and animosity in many directions.
    This move appears, to me, to be pushback against the financial system by the little guy, in addition to guys having fun and using their free time – there is a reason for the old saying “Idle hands are the Devil’s workshop”.
    It seems to me to be a parallel to Antifa in pushing against the way the system is set up, an expression of the feeling of being left out, of being the victim of injustice. Of course, this MIGHT be just for fun and I could be overthinking it…

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