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Something to keep in mind with that Buffett quote.Exactly. I have been trading stocks for seven years now. Had some up years and down years, but I was playing with relatively little money back then.
Around January though, I decided to really hone and and try to get deeper into it. Not long after that, I decided to turn up the aggression meter significantly, and got a couple of big wins early in the year around February to help pad my account (AABB and OCGN's February pumps).
Once I discovered this AMC play, it took awhile for me to build up the knowledge and courage, but once I felt my homework was verified, I decided I'd be an absolute fool not to go all-in. This quote also inspired me to give myself a chance at something special rather than continuing to tread water by making or losing a thousand here and there, and end up in the same place I was before - having to report to a 9 to 5 like most everyone else and barely getting to enjoy life:
I can't count any chickens before they hatch however. One thing you quickly learn doing this is that you have not "made money" or "lost money" until you press the sell button. Right now, my "profits" are merely just something to look at on paper and fantasize about. I've gone from being a millionaire to not being a millionaire three times in the past week or so. I'm very firmly back in the club right now at the moment, but those experiences have taught me to stay humble and keep your eyes peeled, because it can all be taken away on a whim.
Yesterday was a whirlwind. That said, with what I have on the line in this, I had my full attention on the actual trading and my live ticker. I literally woke up at 3:00 am for pre-market each day this week, knowing what was likely to come as a result of the 06/02 share record date and of course, following last week's crazy finish. Most of the day yesterday was spent staring at my computer screen and monitoring the progress of the share price and call strike prices, tick by tick on the live feed, while occasionally browsing for any new DD that comes out throughout the day, just so that I am in position to make any moves I need to make.
I even took days off from work for this at this stage, especially knowing that "work" could be a thing of the past fairly soon. I figured I owe it to myself to focus on this and only this for a few days, and I owe it to them to not be depending on me when my focus is currently 100% on making literal 7-figure, maybe even 8-figure decisions on the fly.
Definitely not tin-foil hat material. I have been tracking this thing daily for awhile now, and one of the things this rare situation of having one stock to monitor has afforded me is the opportunity to see just how manipulated this entire stock market is. Media narratives are a real thing. Heck, some of the most popular stock media news sources are either owned by the enemy themselves (The Citadel has direct ownership stake with MarketWatch) or are even a hedge fund operation themselves (Motley Fool). Even Jim Cramer is a mouthpiece for the hedge funds.
A lot of the activity I see in stocks has become very predictable at this stage, and I can recognize a pump and dump with the best of them at a near 100% success rate, no exaggeration.
Even now, they're trying to push other stocks on people by pumping them and enticing. What they do is pump stocks by buying a bunch of shares, then blast through the media that it is the "New WallStreetBets favorite," blast social media platforms with them, and then dump them once they've pilfered money from retail. There is a reason that, after months of not hearing a thing about BB, EXPR, SNDL, NAKD, but hearing nothing but negative article after negative article daily about AMC, all of a sudden those others on the forefront again now that the squeeze process is unfolding.
Also, plot twist - the hedge funds bought-out the WallStreetBets mods in February, so the enemy pretty much runs that forum now. It's basically a caricature mascot at this stage, used by the media to place blame and/or advertise stocks they want innocent retail investors to pour their money into before they dump them.
https://www.investopedia.com/ask/an...ion-protection-against-ignorance-it-makes.asp
"diversification is protection against ignorance. It makes little sense if you know what you are doing."
Basically, most of us are ignorant about the real ins and outs of individual markets or sectors. So, if you don't know exactly what you're doing, what the company financials are, etc, concentration isn't the smart play. Everything about the GME, AMC stuff is exactly what Buffet would never do.
