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21,516,725 Views | 223268 Replies | Last: 13 sec ago by Aston04
Harkrider 93
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I am not calling a bottom. What I am saying is that I am hearing of more people selling completely out. Likely the rest will when they look at their March statement, although I don't see how they haven't seen what is happening yet.

The things I am hearing:

We are going to zero.
I want it in cash so I can put it in a safe.
We may not go to zero but it is never coming back.
I realize I don't need the money for five years, but I want to know it will be there in five years.
khaos288
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AG
I opened a put position. Market should recover now.
BT1395
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Harkrider 93 said:

I am not calling a bottom. What I am saying is that I am hearing of more people selling completely out. Likely the rest will when they look at their March statement, although I don't see how they haven't seen what is happening yet.

The things I am hearing:

We are going to zero.
I want it in cash so I can put it in a safe.
We may not go to zero but it is never coming back.
I realize I don't need the money for five years, but I want to know it will be there in five years.
I'm literally not hearing ANYONE saying things this extreme.
bmks270
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Harkrider 93 said:

I am not calling a bottom. What I am saying is that I am hearing of more people selling completely out. Likely the rest will when they look at their March statement, although I don't see how they haven't seen what is happening yet.

The things I am hearing:

We are going to zero.
I want it in cash so I can put it in a safe.
We may not go to zero but it is never coming back.
I realize I don't need the money for five years, but I want to know it will be there in five years.


I overheard this last night at a table over from me at a restaurant from some elderly folks... "I've lost over $400,000 dollars."

I think we may have a little bit lower to go. The crash was so fast a lot of people did nothing, now they'll see layoff news and maybe decide to cash out.
TXAG14
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SPY put?
khaos288
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khaos288 said:

I opened a put position. Market should recover now.
you're all welcome
IrishTxAggie
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bmks270 said:

Harkrider 93 said:

I am not calling a bottom. What I am saying is that I am hearing of more people selling completely out. Likely the rest will when they look at their March statement, although I don't see how they haven't seen what is happening yet.

The things I am hearing:

We are going to zero.
I want it in cash so I can put it in a safe.
We may not go to zero but it is never coming back.
I realize I don't need the money for five years, but I want to know it will be there in five years.


I overheard this last night at a table over from me at a restaurant from some elderly folks... "I've lost over $400,000 dollars."

I think we may have a little bit lower to go. The crash was so fast a lot of people did nothing, now they'll see layoff news and maybe decide to cash out.

You don't lose if you don't sell.
khaos288
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TXAG14 said:

SPY put?
nflx 3/27 250 put
Harkrider 93
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I can assure you I didn't make it up. It happened today with 3 different people.

That is why I said I am not calling the bottom. Some people haven't even seen their total loss yet.
GigEmRangers75455
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I've never had more than a couple thousand in the stock market before a week ago. I have 35,000 in today and plan to add. Everything seems to be on sale and I can hold for a while.
sherminator
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aggies76567 said:

I've never had more than a couple thousand in the stock market before a week ago. I have 35,000 in today and plan to add. Everything seems to be on sale and I can hold for a while.
No 401K?
Harkrider 93
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I agree with you. They haven't seen the bad news yet and some still haven't looked at statements.

What I am saying is that I am finally starting to hear real fear. I didn't hear any of it until today. I bet it gets worse, but I am glad to see it finally starting.

tailgatetimer10
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Are they living under a rock? They also must not know what coronavirus is either.
Seabreeze
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First time posting here. But have I been foolish to just let my investments ride it out? Not a day trader just a long player for retirement in another 10 years.
GigEmRangers75455
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I should have clarified. Yes I have 401K but never really invested in single stocks. The 401K has been rough to see the last couple of weeks.
bmks270
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Harkrider 93 said:

I can assure you I didn't make it up. It happened today with 3 different people.

That is why I said I am not calling the bottom. Some people haven't even seen their total loss yet.


the never look never sell strategy.
FriskyGardenGnome
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Looks like the 1-min H&S failed
OverSeas AG
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Every knee shall bow and every tongue shall confess
Seabreeze
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Thanks..
WestTexAg12
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Seabreeze said:

First time posting here. But have I been foolish to just let my investments ride it out? Not a day trader just a long player for retirement in another 10 years.


I'm no expert. 30 years old, so I got time to let it ride.

I haven't done a damn thing. Lost ALOT, but haven't sold ****, so it's not really lost.

Maybe I was an idiot, but I took a hard look at when the spy was down 14% and "thought" about selling, which would have been a good idea today, but who knows at the level we are at now. It could go down another 15% or could go up incrementally from here. If it does the latter, you don't want to be the one selling.
"Give me an army of West Point graduates and I'll win a battle. Give me a handful of Texas Aggies, and I'll win the war.”
- General George S. Patton
PPAag06
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Alright, what's the prediction going into close? Lunch is over....
AggieKeith15
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Very new trader here, but I feel like one of two scenarios will unfold:

1) There's another drop off as layoffs start happening, and companies start going under, and markets begin to fail. Meaning the bottom is in a month from now.

2) in the next week or so things stay low and dwindle down some, but eventually more word gets out on how many people are recovering (or not getting sick at all rather) from the virus. Meaning stocks are basically at floor prices already for the most part.

To the experienced traders, not sure what your thoughts are, but mine are to keep some spare cash in case a second drop off occurs, and in the meantime day trade for the next week or so before things start to settle down some and locking in for the big rise. Does this sound right to you all?
Aggie_2463
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I personally feel like only 1/5 people actually "report" or are even tested. You read reports that if they don't have severe symptoms they aren't even getting tested. So basically only severe cases are reported, thus 2% death rate. I bet it's closer to the flu numbers if every single mild case was actually known, but it isn't.

I think in a few weeks to a month this starts to become apparent and we see people stop panicking. I don't think we see a V but a U in a few months, but what do I know besides do the opposite I do and you'll be rich.
AgOutsideAustin
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PPAag06 said:

Alright, what's the prediction going into close? Lunch is over....


Drop to around Dow 20,250 so I can get a big chunk of VTI
CuriousAg
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Sooo, I am just jumping in this thing and I think I screwed up buying and selling too fast. What is the limit of trades you can make on Robinhood without being flagged as a day trader?

It is telling me I need $25k in the account to freely trade. I can't get out of my current plays as of right now...

...help me.
McInnis 03
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AG


Trying to follow this advice
IrishTxAggie
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CuriousAg said:

Sooo, I am just jumping in this thing and I think I screwed up buying and selling too fast. What is the limit of trades you can make on Robinhood without being flagged as a day trader?

It is telling me I need $25k in the account to freely trade. I can't get out of my current plays as of right now...

...help me.
Your account balance/value needs to stay above $25k. You can sell open positions, but you can't buy new ones if you're flagged and under. I think the number is 3 or 5 in five days
khaos288
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IrishTxAggie said:

CuriousAg said:

Sooo, I am just jumping in this thing and I think I screwed up buying and selling too fast. What is the limit of trades you can make on Robinhood without being flagged as a day trader?

It is telling me I need $25k in the account to freely trade. I can't get out of my current plays as of right now...

...help me.
Your account balance/value needs to stay above $25k. You can sell open positions, but you can't buy new ones if you're flagged and under. I think the number is 3 or 5 in five days
TDA lets you day trade as long as you aren't in margin.
Aggietaco
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CuriousAg said:

Sooo, I am just jumping in this thing and I think I screwed up buying and selling too fast. What is the limit of trades you can make on Robinhood without being flagged as a day trader?

It is telling me I need $25k in the account to freely trade. I can't get out of my current plays as of right now...

...help me.
I think it said 3 trades in a 5 day sliding window was the max, something absurd.
jj9000
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AggieKeith15 said:

Very new trader here, but I feel like one of two scenarios will unfold:

1) There's another drop off as layoffs start happening, and companies start going under, and markets begin to fail. Meaning the bottom is in a month from now.

2) in the next week or so things stay low and dwindle down some, but eventually more word gets out on how many people are recovering (or not getting sick at all rather) from the virus. Meaning stocks are basically at floor prices already for the most part.

To the experienced traders, not sure what your thoughts are, but mine are to keep some spare cash in case a second drop off occurs, and in the meantime day trade for the next week or so before things start to settle down some and locking in for the big rise. Does this sound right to you all?
Not trying to be confrontational here, but, what basis are you making your Scenario 1 and Scenario 2 assumptions?

Scenario 1 --> Layoffs starts happening --> Businesses Fail --> Unemployment --> GDP contracts ---> I'll stop here as there's a cascading effect, and nowhere in this scenario is a cure for the Pandemic. Layoffs = Not a recovery on a month.

Scenario 2 ---> What indicators are leading anyone to believe this Pandemic is easing? If anything, it's the other way around. Look at the infection trajectory.

Again, I want to emphasize that everyone here is in the same boat as you are. Is this a great "Traders" market? YES.

But, I get the sense that several folks are looking for this thing to turn on a dime and skyrocket to 3,400 in a week or two, when in reality we JUST started shutting things down.
khaos288
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khaos288 said:

khaos288 said:

I opened a put position. Market should recover now.
you're all welcome
fml
FriskyGardenGnome
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AG
I assume this is a margin account.

Four round-trip day trade in 5 business days makes you a pattern day trader. That makes you fall under the minimum equity requirements for pattern day traders ($25k).

You should call your brokerage immediately and explain the situation.

ETA: here are the relevant SEC rules
Aggies1322
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AG
Does anyone trade GASL?
IrishTxAggie
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khaos288 said:

IrishTxAggie said:

CuriousAg said:

Sooo, I am just jumping in this thing and I think I screwed up buying and selling too fast. What is the limit of trades you can make on Robinhood without being flagged as a day trader?

It is telling me I need $25k in the account to freely trade. I can't get out of my current plays as of right now...

...help me.
Your account balance/value needs to stay above $25k. You can sell open positions, but you can't buy new ones if you're flagged and under. I think the number is 3 or 5 in five days
TDA lets you day trade as long as you aren't in margin.
I think Robinhood is any type. Not sure though. Don't use them anymore
CuriousAg
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So can I not even sell my position for 5 days if I already hit those 3 trades. I have no where near $25k in my account and do not plan to do so for a while.
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