Last night I had a conversation with a close friend of mine. We started talking about the economy. Full disclosure I am a full time trader i stare at charts for a living.
I've been warning him for over 2 years now that the plandemic and all the bullshit they implemented was going to cause a massive recession into a depression the likes of which we've never seen. That the credit crunch was gonna be unbelievable and that buying at home at all time highs during the plandemic was retarded and that he should stop pouring money into his 401k at his work.
He continued to pour money into those wortheless funds at work, he bought a house in 2021 which he got into a bidding war with and he even bought a new truck.
He is now complaining and blaming others about all the shit that's happening to him. He's going through a rough marriage, his work (new build developers) are now talking about massive slow downs and putting projects on suspension because the cost benefit analysis is weak etc etc.
He's mad at wall street for his problems. Just blindly pointing the finger at anyone but the mirror.
He's also giving me attitude lately because he finds it absurd that I can make money on a declining economy.
This is normie mentality 101. THIS is the core of the problem. Now I wouldn't even bother talking about the DS with him cause there is no point.
Shorting is a non issue. Naked shorting without accountability is. A short sale doesn't just magically make the price of an asset drop unless the price is over-inflated.
Like you said,frens lose money when you short it.
If they are worried about someone taking the opposite side of their trade, then they have no business in the market. "Frens" should have sold it when it was overvalued. I get that you're salty about losing money, but I highly recommend learning some basic technical analysis and eventually you will see things like this coming before you lose your ass in a trade you should have never been in. If you are in it long term, then you didn't lose any money anyways unless you've sold, so short selling shouldn't even bother you. If you lost money on DWAC, the only one to blame is yourself.
I didn't lose,I sold the day after it was issued for a very nice profit. I've since bought in recently at a good price.
Technical analysts don't mean shit on manipulated stonks,we had the golden cross formation on gme a few weeks ago,didn't mean shit. I've seen 100s of DD posts on technical analysis on gme and 99% of them were wrong. Now we just laugh at them.
In this case you didn't even need TA or fundamentals to tell you it was being launched by outsiders lol. It was obvious right off the bat.
You are salty about it that's why you can't let go. And as far as "fren money" goes, with your same logic, your profit ended up being a bag for a fren. So shut up already.
If you think the golden cross is the pinnacle of technical analysis, you have absolutely no idea what you are doing, along with 99% of other retail traders, and I know you didn't sell at a profit based on how you are reacting and what you are saying. Good luck, you're going to need it.