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.
Did you tell him your shorting dewac,cause you like to make money as your frens lose.
I can see how a patriot would have a problem with that.
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.