playing the stock market because no sports betting or fantasy sports?

Discussion in 'College Basketball Board' started by cooljeff, Mar 24, 2020 at 2:55 PM.

  1. cooljeff

    cooljeff Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Dec 19, 2003
    Messages:
    22,288
    Likes Received:
    8,513
    probably not a great idea...but here we are
     
    EvilMonkeyInTheCloset likes this.
  2. Bert Higginbotha

    Bert Higginbotha Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jan 9, 2003
    Messages:
    21,104
    Likes Received:
    5,817
    Location:
    Smiths Grove, Kentucky
    I am several hundred thousand dollars down, so I am out.Eyeroll

    On the stock market I am a dumb ass.
     
    SNU0821 and lurkeraspect84 like this.
  3. cooljeff

    cooljeff Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Dec 19, 2003
    Messages:
    22,288
    Likes Received:
    8,513
    only down if you sell...
     
  4. I am stupid

    I am stupid Well-Known Member
    Expand Collapse

    Joined:
    Mar 18, 2013
    Messages:
    4,832
    Likes Received:
    2,111
    I was eyeing several stocks. Started to buy yesterday, but thought I'd wait a day or so. They are all up 20-30% today. :(
     
  5. MileHighSpartan

    MileHighSpartan Well-Known Member
    Expand Collapse

    Joined:
    Jan 6, 2014
    Messages:
    6,937
    Likes Received:
    6,316
    That wasn't the bottom, IMO...
     
  6. brooky03

    brooky03 Well-Known Member
    Expand Collapse

    Joined:
    Jan 10, 2012
    Messages:
    5,367
    Likes Received:
    3,762
    that’s okay, I’m buying a house and liquidated a bunch of investments for the down payment. One of them, the biggest, was Stamps.com. Bought it last May or June for $34. It peaked at a little over $90 and I ended up selling it at $80-something the day before they announced their earnings for the quarter. Not bad, right?

    In after hours trading, the share price jumped to $130. That went to over $150 during market hours the next day, and topped out at around $184 the day after. It was a sizable chunk of change I missed out on. Was sick to my stomach for a few days.
     
    6 brooky03, Mar 24, 2020 at 5:47 PM
    Last edited: Mar 24, 2020 at 6:13 PM
  7. I am stupid

    I am stupid Well-Known Member
    Expand Collapse

    Joined:
    Mar 18, 2013
    Messages:
    4,832
    Likes Received:
    2,111
    I agree. I knew it would spike up when they were close to a stimulus deal, but thought I had another day.

    Honestly the plan was to buy low, sell during a day like today. Then invest it all back during the next dip and leave it.
     
    Bert Higginbotha likes this.
  8. EvilMonkeyInTheCloset

    EvilMonkeyInTheCloset Well-Known Member
    Expand Collapse

    Joined:
    Feb 25, 2008
    Messages:
    37,511
    Likes Received:
    8,197
    Told you.

    Stock market = non-leisure gambling
     
    I am stupid likes this.
  9. jwardelt

    jwardelt Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Apr 30, 2007
    Messages:
    16,539
    Likes Received:
    8,899
    I’m playing SH puts/calls. Will probably lose it all.
     
  10. Lvmbergh

    Lvmbergh Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Oct 30, 2014
    Messages:
    7,540
    Likes Received:
    17,713
    Location:
    ATL
  11. Bert Higginbotha

    Bert Higginbotha Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jan 9, 2003
    Messages:
    21,104
    Likes Received:
    5,817
    Location:
    Smiths Grove, Kentucky
    True and I will not. I kept it after 9-11 and in 2008.
     
  12. Bert Higginbotha

    Bert Higginbotha Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jan 9, 2003
    Messages:
    21,104
    Likes Received:
    5,817
    Location:
    Smiths Grove, Kentucky
    I can't do stuff like that Brooky. That trading is like playing poker. I am a good winner and a sore loser. I am not built for it.
     
    lurkeraspect84 likes this.
  13. brooky03

    brooky03 Well-Known Member
    Expand Collapse

    Joined:
    Jan 10, 2012
    Messages:
    5,367
    Likes Received:
    3,762
    I generally set a limit on how much I'm willing to lose on each investment, usually 20% for smaller investments and about 10% for larger ones. If the stock losses that much, I cut my losses and sell. My biggest problem is knowing when to cut and run with my gains.

    I purchased a long call option for Uber back around November. The option was worth triple what I'd paid for it by the end of January or early February. I should have sold it and banked the gain. I waited, it dropped a little in the weeks after its peak but was still looking strong, so I held it. Then coronavirus hit and wiped it out almost entirely, practically overnight. To use real dollars for perspective, it went from being worth roughly $9,000 to being worth hundreds (I don't know exactly because I didn't want to look haha). It's a long call, so there's time for it to rebound, but I'd just be hoping to breakeven on it at this point.

    There's investing and there's speculating. I kind of blur the lines between the two but try not to do anything too crazy. The key, imo, is knowing what you're okay with losing, pretty much just like when you walk into the casino.
     
    13 brooky03, Mar 25, 2020 at 10:32 AM
    Last edited: Mar 25, 2020 at 10:42 AM
  14. schoonerwest

    schoonerwest Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Apr 5, 2006
    Messages:
    23,708
    Likes Received:
    15,481
    Location:
    Midland, TX
    I bought some CCL on Monday with the intentions of making a quick $400 to pay for a glider/rocking chair for the baby (that's how I like to look at profits. Like, it pays for this/it pays for that). I bought in and could not stop refreshing the page for an hour straight. Like it was all I could think about. I ended up selling with a $50 profit. If I had waited like 80 more minutes I would have hit my target. If I had waited until the following day (yesterday) I would have profited 50%.

    I'm definitely not made for that game. I like to buy and hold for the long term but I absolutely do not need to be buying for short term flips since it destroys any focus I have on what else I'm doing at that time.
     
  15. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    22,165
    Likes Received:
    17,916
    I'm just too ignorant to gamble. They say it's not gambling if you know.
     
    Bert Higginbotha likes this.
  16. Bert Higginbotha

    Bert Higginbotha Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jan 9, 2003
    Messages:
    21,104
    Likes Received:
    5,817
    Location:
    Smiths Grove, Kentucky
    Have any of you noticed that there are some bright folks on this board?
     
  17. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    22,165
    Likes Received:
    17,916
    [​IMG]
     
  18. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    22,165
    Likes Received:
    17,916
    There are some fart smellers on here.....smart fellers.
     

Share This Page