New Donald Trump Stock (Symbol: DJT)
Posted: Thu Mar 28, 2024 9:54 pmI want to say something about a stock without getting into a heated political debate. There was a new Donald Trump stock called Trump Media & Technology which began trading this past Tuesday, the 26th. This was symbol DJT- his initials.
For a very brief time (perhaps the first 10-60 minutes that very first day), a very nimble trader could have potentially done very well flipping that stock during that brief timeframe. Why? I think everyone wanted to know how high it would naturally go before hitting resistance. So, my opinion is that hedge funds who want almost everything to go down in price, were told to sit on their hands early Tuesday and wait for the right moment to pounce.
I placed a trade with my broker as their system wouldn't allow me to use the symbol DJT. A broker had to place a special order himself to get it filled because of the newness of the symbol. Surprisingly, my buy order and the immediate sell order I placed were BOTH filled before the market even opened that day.
In just six minutes before the market even opened my net profit on 500 shares of DJT was $2,343.15. That's close to $400/minute and I had very little fear of losing on the trade. On a similar trade recently where I made $333/minute in a 3-minute trade, I calculated that it was roughly the equivalent of $40 million per year. So Lebron James and Steph Curry could have looked at me as one of their peers for at least a few minutes.
I love those types of trades, but still think Trump needs to turn a new leaf and learn some basic manners.
For a very brief time (perhaps the first 10-60 minutes that very first day), a very nimble trader could have potentially done very well flipping that stock during that brief timeframe. Why? I think everyone wanted to know how high it would naturally go before hitting resistance. So, my opinion is that hedge funds who want almost everything to go down in price, were told to sit on their hands early Tuesday and wait for the right moment to pounce.
I placed a trade with my broker as their system wouldn't allow me to use the symbol DJT. A broker had to place a special order himself to get it filled because of the newness of the symbol. Surprisingly, my buy order and the immediate sell order I placed were BOTH filled before the market even opened that day.
In just six minutes before the market even opened my net profit on 500 shares of DJT was $2,343.15. That's close to $400/minute and I had very little fear of losing on the trade. On a similar trade recently where I made $333/minute in a 3-minute trade, I calculated that it was roughly the equivalent of $40 million per year. So Lebron James and Steph Curry could have looked at me as one of their peers for at least a few minutes.
I love those types of trades, but still think Trump needs to turn a new leaf and learn some basic manners.