fellow apes, please book some GME and/or AMC profits via /r/wallstreetbets #stocks #wallstreetbets #investing

fellow apes, please book some GME and/or AMC profits

Everyone was bearish with the stock market 2 weeks ago (last last Monday, 3/15, to be exact), when QQQ was around $315. Now QQQ is $365, while every economic metric is more terrible since 2 weeks ago:

  1. some of the incoming 6 more rate hikes may be 0.5% each, not 0.25%: JPow told us about this.
  2. the oil price surges like GME: it will be higher with the Ukraine war drags on and China recovers from Covid.
  3. BA.2 Covid variant is becoming more prevalent in US: Dr. Fauci predicts a surge and he is never wrong for past 2 years.

If you told me to buy GME when it was ~$77/share 2 weeks ago, I would slap you very hard as this should be the worst investing advice for 2022. It turned out that it might be the best investing advice for 2022 instead. However, if you look into past 2 weeks, you should realize that the world just became worse, not better. Things are more terrible today than 2 weeks ago.

And you are holding a meme stock that almost 3x since 2 weeks ago? Wsb apes should be smarter after lessons learnt throughout past one year, right? Right?

If you have only shares, I suggest selling some to book some profits (may be getting your initial investment back and let the profit continues rolling?).

If you have 100+ shares, consider selling ITM calls. Alternatively, you can also sell the shares, and sell an ATM / OTM put immediately.

If you have calls, sell them and buy shares or sell puts.

You will not lose by booking some profits. It is heart-breaking to see some apes here losing tons of money just because they don’t book profits on time.

Submitted March 29, 2022 at 09:34AM by Odd-Block-2998
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