It's taken a bit to grasp a lot of what you guys are talking about but I seem to be making better choices. My cash account is still struggling due to choices made in early February but I studied a bit more before diving into my IRA (the old 401K) and I've been able to increase it by 22% since mid-March. Hope to still learn more from you guys.

agdaddy04 said:

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It's taken a bit to grasp a lot of what you guys are talking about but I seem to be making better choices. My cash account is still struggling due to choices made in early February but I studied a bit more before diving into my IRA (the old 401K) and I've been able to increase it by 22% since mid-March. Hope to still learn more from you guys.

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Congrats man. A 22% gain in 90 days is awesome. I'll take that any day of the week.

Focus on the process, not the money.. Focus on baby steps, not huge leaps.. Focus on the day-to-day goals, not where you want to be in 20 years.. Small improvements each day will lead to BIG changes in the future. There are 130 trading days left in the year.. stay focused 🚀

— EliteOptionsTrader (@EliteOptions2) June 29, 2021

Avg of $500 in profit a day equals 125K a year.

Given the amount of levels scalping going on in here, that could be easily achievable for a fair amount of posters in here.

WWR

32.34M Shares Outstanding
32.24M Public Float
3.72M Short Interest
11.54% Percent Of Float Shorted

Maybe a 30% of Float Shorted would get us to the moon. I think we'll get to a high percentage float short before it's all said and done.

SIDE NOTE: $30K I read your post about ATH's and getting thin. I agree. One step further, I cut my bond position 50% and went to cash. Been in those bonds since 2015. I had Rocky Mountains of cash prior to this bond reduction,....I now moved into Swiss Alps cash position.

Also funny

Mostly Foggy Recollection said:

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Think we touch 430 before correcting

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we practically touched 4300 today in SPX. One thing i was hoping everyone would notice is that chart is weekly skew and it sometimes takes up to 8 weeks for a dump of sorts. I tend to think this one will be faster, but either way, I am going to be short biased with long hedges for a bit.

So what does all this correction talk mean for an MA play like WWR? Should someone sell, with the expectation that a market correction will provide a better entry point? Charts aside, macro flush probably flushes everything, including WWR I would assume. Or hold shares but delay additional accumulation until after some steam is let out of the market? I can't imagine selling now is a good idea. But I'm thinking having some dry powder can be put to very good use later so stockpile the cash.

I guess I'm really just babbling about 2 totally separate things. Trading allocation of funds and longer term allocation for MA. Maybe best to view them separately? Probably a basic consideration I've not formally determined but probably should.

do nothing on those. Not all stocks fall in a correction and there is always a bull market somewhere.

agdaddy04 said:

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It's taken a bit to grasp a lot of what you guys are talking about but I seem to be making better choices. My cash account is still struggling due to choices made in early February but I studied a bit more before diving into my IRA (the old 401K) and I've been able to increase it by 22% since mid-March. Hope to still learn more from you guys.

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The point I was trying to make is that you're now engaged and investing time into your financial future. I assume from your post, that you acknowledge mistakes you made, that is a good thing even if it doesn't feel that way. Every successful trader has made very costly mistakes, but if you learn from those mistakes then it's a valuable lesson. Actively managing your own money will outperform any mutual fund you could buy on a yearly basis. Growing it in a tax deferred retirement account allows you to grow it beyond your wildest dreams, don't gamble/learn in that account though. Open a trading account to practice or open an unfunded trading account on TD Ameritrade because they offer a paper trading feature to try new things. I've seen you on here enough that you can outperform mutual funds with giving it attention, just don't gamble. Like I told McInnis over a year ago, "learn the craft"! He did and instead of quitting he, as well as FJ, became exceptional traders, and I'm extremely proud of the traders they've become. JMO

$FB

All I’m saying is... I’ve never seen them together. 🤔 pic.twitter.com/G7j42Iys94

— Aims 💋 (@awakenotwoke17) June 28, 2021

Funny, I am WWR at $10 away from that becoming a real possibility. Not going to lie; it's kind of scary.

$30,000 Millionaire said:

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E said:

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Mostly Foggy Recollection said:

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Avg of $500 in profit a day equals 125K a year.

Given the amount of levels scalping going on in here, that could be easily achievable for a fair amount of posters in here.

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Can you guarantee this? I'll quit my job tomorrow

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how much capital do you have to trade? $200K, yes. $20K, no.

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I'll give you $200k tomorrow, you give me $300k next year and keep the extra $25k

Mornun!

Your morning snapshot....



Be safe
Don't chase



Trade Wiselyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

That was 10 words or less. Didn't mention character count.

NRD09 said:

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FJ43 said:

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TxAgLaw03RW said:

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Does the shelf offering affect chart interpretation since days prior to the announcement were trading without knowledge of the offering, or does it help since you have some level of post-offering days to view?

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Don't think it had any impact to it nor those that came in that day. Would have been a sell off if negative like we see in other circumstances.

May be OA or someone can opine on that as well.

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My understanding is the purpose of the shelf offering is to free up shares to be made available in employee incentives, since they're about to have a lot more employees

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A shelf offering is a way for a company to sell additional shares for funding business projects/ventures/operations. You'll normally see it as an S-1 or S-3 filing and it's an SEC requirement. So yes, this does mean that WWR will be diluting its share base, probably to fund that Bama plant project.

You will probably see a 424b filing following the shelf offering once the company is ready to sell shares on the open market. If you see things like "atm", or at the market offering on the 424, it means they'll be dumping the additional shares during/a market session.

I use this to short stocks intraday all the time. Normally it goes like this:

1). Company A puts out PR. Price per share soars on the day.

2). I go to FilingsPro or BamaSec and see a ton of current atm offerings.

3). Wait for it to top out, normally you see this at or before 9:30 EST.

4). Short on blow off move, big volume. Short the fade.

Not saying WWR can't continue to go on higher, but I bet we see some positive PR on a day and it moves up hard, tops, and then sells off hard. I'll be ready to sell my shares when the time comes. Last time it dropped a shelf and a few 424s was November/Dec 2020 and it spiked and then proceeded to fade quite a bit after that big volume big price action day.

But WWR do like to offer shares quite a bit.

PSA - Catching up on the thread about trading full time, making a living from it, how much per day or how much capital is required. I really don't know how much it takes to achieve this.

Just my opinion but not sure it matters whether you have $20k-$2M. If you aren't committed, haven't developed a system, process and maybe most importantly disciplines then it won't matter.

Surround yourself with wise counsel. Then however long it takes apply yourself and print consistent results. Once achieved then whatever the math says that is what it would take.