Originally Posted by :
At one point, Lone Capital held $367 million in stock to lead all hedge funds covered by Insider Monkey. DSAM Partners had $146.2 million worth. Melvin Capital, Renaissance Tech and Tybourne Capital were also bullish on the company, according to Yahoo Finance.
So when the stock, which was already down 89% for the year, had its trading halted back in April amid an investigation into financial misconduct, the losses were felt far and wide.
But one retail investor with a PG-13 Reddit name took a particularly grievous hit.
Yes, StopFapForever, who claims to be a 28-year-old Italian, shared his brutal market mistake with the bunch on WallStreetBets. He apparently he went all-in on Luckin and lost his entire life savings in the process. “Now I’m broke af,” he wrote, posting this screenshot of the carnage:
Both payroll reports destroyed estimates this week. Non farms came in at 13% unemployment vs 19% expected. The great cyclical mooning will continue! Congrats to anyone holding leisure/travel, industrials, financials, etc [Reply]
Once the market crashed I had 80% of my position between Carnival at $8 / Norw at $9 and Royal Carribean at $32. Up $42k so far, this is crazy!! [Reply]
Originally Posted by lewdog:
I’ve got money on the sidelines but not sure where to put it!
Ugh!!!!
Well, if you want to play the futures game (I presume you don't, but hear me out.) the commercials are long corn. There is a pretty high correlation between commercials holding a net long position and a rally. Timing is wonky because you have to wait until they unwind the positions, but the correlation is there.
If you're dealing with funny money and want to learn about different stuff, it might be a fun little exercise. [Reply]
I'm curious on the thought process of more seasoned traders.
Example. Casino Stocks.
I bought in near the bottom of MGM and ERI. ERI has been a rocket ride and I'm up 160%. How far does a guy push the trend on things like that when the economy is just kicking into gear?
That stock is at $45.63 at this time and the high was around $70 when Rona showed up. Does your method lean towards chasing it back to the top, or cashing out a nice clip? Cash out half?
I've got similar going in other sectors like oil......and I've bought enough X at the bottom to offset the ass kicking I got on it buying at the top....and I'm within $.60 of breaking even there. I'm torn between jumping out when I'm green or hoping long term plays pay off for X, GE etc... [Reply]
