Reddit, Wall Street bets, life changing

 I'm a news junkie. We'll just get that up front. Early February 2021, pandemic, impeachment, vaccines, lots of stuff in the news.  Then it happened! My son, Eric, is a Reddit follower. Now we both are. He told me about stock shorts and that hedge funds were going to short GameStop. He'd heard it on r/wallstreetbets. I had no clue. So he explained that hedge fund guys on Wall Street borrow the stock and sell it. Then betting that it will fail and go lower , they buy it back at the lower price and give it back to who they borrowed it from.  Then they made money. Wall Street bet people got involved and rallied and got the stock up to over $400. Anyone who bought the stock low would have made tons of money at peak. However, the hedge fund guys lost billions because they had to pay back the borrowing at a much higher price. 

    Wow. This was fun. I downloaded Reddit. Joined r/wallstreetbets , r/pennystocks, r/dogecoin and a few others. They were rallying Dogecoin too. 

So much to learn. 

I already had Robinhood, an app for trading stocks free, but hadn't used it. Eric had to download Cashapp because Robinhood had an approval time. By the time we went to buy GameStop, buying had been frozen. Finally bought $50 worth but when all said and done, lost $10 because I sold. Price was falling and I didn't want to lose more. However, in the meantime I learned so much. Read a lot, studied graphs, times and charts on Reddit and Robinhood.  There are certain times of day and even certain days of the week that show patterns. Highs and lows. I had a certain amount I could use and decided I wouldn't use anymore, $300. I bought Dogecoin and it doubled in 3 days. I bought some fractions of Bitcoin, a pennystock and a few long term stocks based on news articles. I figured out that you are placing bets on what is going to happen, not what already is. My penny stock, I heard about on Reddit and studied them. I picked the one I thought best at 76 cents. In 2 days I had made $21 on it. 

                          The Crazy

Then I did a crazy. Day trading. Risky and not for everyone. Sell high, buy low. I noticed that in the morning stock prices went higher until around 10:30. Then after noon they started dropping. Getting the lowest around 3-4 pm. But you have to study which ones. Bitcoin had a pattern for the last 3 months. High in the morning and lower after 1pm to 3pm, lower 3am-5am and lower on weekends. Weird. Ok. So trading opened at 9:30 and I watched. Bitcoin went up to a high of $49,555. I sold all. Since I didn't have much Bitcoin, I got $238. Then I set a buy in Robinhood with a market limit to buy Bitcoin with $200 but at a market limit of 44,500.  Sure enough, around 1:30pm my buy went through and I had more Bitcoin than I started out with. A few hours later , Bitcoin was back up to $48,417, and we know that's going to keep going. 

I have stock in Novavax (making money) and Johnson and Johnson). You have to put money in what you believe in and based on what might happen. FDA approval may be coming. Gm may be good for electric cars.  

Evidently, I have to say I am not a stock broker and not giving financial advice. 

Don't spend more than you couldn't afford to burn , my son Eric says. 

I am a 56 yr old grandma with 7 kids   My house is paid off and so are my cars. I'll post more blogs of how to get that way too.  Hugs to all. 

Oh, and I don't work for any of these companies!  Hope to see you back!