Category: Reddit Post

WSJ: More men are addicted to the ‘Crack Cocaine’ of the Stock Market. Gamblers Anonymous meetings are filling up with people hooked on trading and betting. Apps make it as easy as ordering takeout.

A new type of addict is showing up at Gamblers Anonymous meetings across the country: investors hooked on the market’s riskiest trades. At Gamblers Anonymous in the Murray Hill neighborhood of Manhattan, one man called options “the crack cocaine” of the stock market. Another said he faced hundreds of thousands of dollars in trading losses after borrowing from a loan shark to double down on stocks. They were among a group of about 60 people, almost all men, who sat in rows of metal folding chairs in a crowded church basement that evening. Some shared their struggle with addiction – not on sports-betting apps or at Las Vegas casinos – but using brokerage apps like Robinhood. Many of the men, and scores of others around the country, discovered trading and betting during the pandemic boom that began in 2020. Some were drawn in by big wins in meme stocks and other viral stock sensations, leading them into even higher-octane wagers that offer the chance to put up a small amount of cash for a potentially mammoth return – or more often, a crushing loss. Others bought and sold cryptocurrencies on apps that make trading as easy as ordering takeout on Uber Eats or toiletries on Amazon. In an age when sports betting has become an accepted pastime – accessible by the flick of the thumb on an iPhone app – they found the same rush betting on dogecoin, Tesla or Nvidia as wagering on Patrick Mahomes to carry the Kansas City Chiefs to the Super Bowl. Doctors and counselors say they are seeing more cases of compulsive gambling in financial markets, or an uncontrollable urge to bet. They expect the problem to worsen. The stock market has climbed 23% this year and bitcoin recently topped $100,000 for the first time, tempting many people to pile into speculative trades. Wall Street keeps introducing newer and riskier ways to play the market through stock options or complex exchange-traded products that use borrowed money and compound the risk for investors… Read a full story: https://www.wsj.com/finance/stocks/stock-market-trading-apps-addiction-afecb07a?mod=djem10point submitted by /u/FXgram_ [link] [comments]

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US judge finds Pegasus spyware maker liable over WhatsApp hack

A federal judge sanctioned Israeli spyware firm NSO Group for dodging court orders in WhatsApp’s lawsuit over Pegasus, the spyware that allegedly hacked 1,400 phones, including those of journalists and activists. NSO tried blaming Israeli law for refusing to share the full source code, offering access only in Israel. The judge called the excuse “simply impracticable” for a U.S. trial and hit NSO with sanctions, saying it broke U.S. computer fraud laws. Nice try, though. Pegasus lets hackers control your phone’s camera, mic, and location—even through a missed call. NSO insists it only sells to “vetted” governments, but the U.S. blacklisted it in 2021. https://preview.redd.it/kxpplvif868e1.png?width=900&format=png&auto=webp&s=5d0ca406cdfa8c37fdbddf5ba18230f734f7617e Source: Courthouse News submitted by /u/Pllover12 [link] [comments]

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📊🤓💡📈🤔🇯🇵 USDJPY broke through the resistance area after forming a cup-and-handle pattern. MA50 crossed up MA200, forming a Golden Cross, which confirms the possibility of growth to the Order Block after retesting the support area.

📈🇯🇵 USDJPY broke through the resistance area after forming a cup-and-handle pattern. MA50 crossed up MA200, forming a Golden Cross, which confirms the possibility of growth to the Order Block after retesting the support area. submitted by /u/Yuriy_UK [link] [comments]

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TKL: China is dominating the global auto market. China’s share of world car production is now at 39%, the highest on record.

Since the 2008 Financial Crisis, this percentage has doubled. Its share is also ~11 percentage points larger than Europe, Japan, and the US combined. To put this into perspective, China’s share in global automotive production was just 1% in 2000. By comparison, the US, Japan and Europe accounted for 14%, 20% and 32% of production in 2000, respectively. China has taken over the global car market. submitted by /u/XGramatik [link] [comments]

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TKL: History will be made today: As the Nasdaq is down over -6% from its high in just 5 days, there are a MASSIVE amount of options expiring today. In fact, a record $6.6 TRILLION worth of options are expiring, based on notional value. What does this mean exactly?

Total notional value refers to the to the combined value of all the underlying assets that a set of options contracts controls. Some estimates put it as high as $6.6 TRILLION today. Most of these options will expire worthless, but tons of volatility should be expected. Even if you assume the total value is $5.5 trillion, there has NEVER been a day that was remotely close. Here’s a breakdown of all previous days with elevated notional value expiration dates. Last December, we saw ~$4.8 trillion of options expiring which was a record at the time. However, at that time the aggregate capitalization of the US market stood at $48 trillion. Today is also a “triple witching day” which means options linked to stocks will expire alongside major stock index futures contracts. As seen below, triple witching days over the last 10 years have generally seen negative returns. More reason to expect heightened volatility. It has since climbed to $59 trillion and is now DOUBLE the size of US GDP. Meanwhile, the Volatility Index, $VIX, is already up nearly 100% this week. We also have PCE inflation data coming this morning just days after the Fed shifted hawkish. Rate cuts are being priced out and markets are nearing correction territory for the first time in months. According to SpotGamma, calls HEAVILY outweighed puts heading into today. On December 18th, the call to put ratio was 10 to 1. While it has dropped due to this week’s market decline, calls still significantly outweigh puts. Will bulls be able to hold support today? submitted by /u/XGramatik [link] [comments]

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