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24,587,603 Views | 233233 Replies | Last: 1 min ago by South Platte
TecRecAg
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AG
My main portfolio that has AMZN NFLX etc I would leave alone. Probably the first ones to rebound.

Hard to see oil and travel taking much larger hit. They're wounded ducks for the most part.

To give an accurate answer I guess I would have to know what caused the correction. Was it "natural" of sorts or did something happen to light the fuse. Hard to say
59 South
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AG
I'm being careful trying to time the top especially now. There's always going to be a correction looming, and there are always many out there trying to say it's coming soon. It won't happen magically in a day or two. If it's a big one there will be time to adjust. There will be a few days or even weeks to switch gears. The smarter people on here (not me) will let you know....

Unless there's a big shock catalyst like we had late Feb, these things usually end in a meltup + euphoria. That's just typical market action. We had a mini one first week and a half of June. That made me get really careful and ended up not doing much at all cause SPY 298-300 held firm. There was no way to predict or time that huge gap and go down as much as it did on June 11 although there were a few signals (multi-day melt up w/ bearish engulfing the day before.

The other one that comes to mind that taught me a big lesson was January 2018. That's the biggest example I've seen while being really into the market. There was way more FOMO then than now. This is more of a steady grind up. I think OA called it death by a thousand cuts to the bears. So I'm personally just riding it out and ok not trying to time a top.

The issue with timing a top is if you are wrong, which you almost certainly will be, then you have the pressure of figuring out when to cave and go long again. And when you finally do, then that's when the real rug usually gets pulled.

Some say it's all between the ears, but for most of us, it's usually just the constant day to day struggle between those euphoric butterflies vs that poopie feeling down in our gut unfortunately.

[end rant]
59 South
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AG
On ROKU, it is a devil to try to trade day to day or week to week. It will drive you insane if you worry about it. It's very noisy with lots of misdirection and is commonly out of sync with the indices. It's a buy and hold for me although it can be a good one to buy and swing and sell covered calls on too. Don't ever panic sell it...
59 South
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AG
Prog is spot on with the stock splits. I really need Bezos to cave so I can sell covered calls on my 15 AMZN shares. I keep thinking that at some point, he'll have to cave on that or start offering a dividend. Who knows though when you rule the world... I'm personally rooting for a 20:1 AMZN split. It would probably run to 4000 before the split, and I'd have 300 shares to perfectly third up for selling calls in lots.
gougler08
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AG
I think a top is in soon too but you still have the money printer looming which I think will be used until the election...
Bretton Gekko
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$30,000 Millionaire said:

Really starting to feel like we are very close to a top now. Stock splits, President touting the market on national TV as the economy, extreme earnings moves, inflation fears, precious metal insanity.


Hair dressers and waiters are trading...
J_Landes89
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AG
Had this thought lately...

...Feds keep printing $$ until election.... Trump actually wins re-elect ..... Dems win Senate and House..... Stocks hit top then bottom falls out... Feds sit back.... some other hoax excuse = impeachment..... joker gif???

Keeping cash handy!
Cartographer
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Place calls on inverse instruments such as SQQQ and SPXS in lots as their price drops. Lots of value here.

Believe OA mentioned it before. When March hit SPXS went over 20. You can get a 7-8 strike for around a buck right now all the way out to January.
McInnis 03
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I'm watching tsla at open. Chance she runs again
59 South
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AG
59 South
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AG
Agree, but that can last a few years before they are market murdered like my HS friends' dads were in 2000. They were balling for damn near half a decade. Above ground pools and all.

What are your indicators saying? We know who you are, and we need to know!

59 South
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AG
McInnis 03 said:

I'm watching tsla at open. Chance she runs again
S&P add likely in September too
McInnis 03
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AG
McInnis 03 said:

I'm watching tsla at open. Chance she runs again
The run may occur before the bell rings. Already up 65pts in premarket.
gig em 02
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McInnis 03 said:

McInnis 03 said:

I'm watching tsla at open. Chance she runs again
The run may occur before the bell rings. Already up 65pts in premarket.
A couple weeks ago I bought an 8/21 2200c for tsla, so if you could pump it to 2500 by the end of next week it would be appreciated
59 South
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AG
McInnis 03
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AG
59 South said:


Watching Scott's 5:30a CT free periscope video that he links on his Twitter is very fruitful FYI.
59 South
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AG
Since I'm on a posting bender... One thing I can't wait for is the perma bears spiking the football after a 10% drop after missing out on a 25%+ run. And that's all I have to say about that.
59 South
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AG
Agree that totally changed my whole approach and psyche. Dude is just down to earth, simple and usually nails it. My favorite follow.
gig em 02
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McInnis 03 said:

McInnis 03 said:

I'm watching tsla at open. Chance she runs again
The run may occur before the bell rings. Already up 65pts in premarket.
PURELY SPECULATIVE - I think it runs to 1800 by tomorrow, the "battery day" in september has been hyped for months and if they actually have something revolutionary or meaningful and the stock price is a 5th of what it was and they are listed on the s&p then this could be a good year for my 2 shares.
McInnis 03
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AG
JOBS JOBS JOBS

Up we go for a moment.
AgShaun00
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AG
i had a tsla call yesterday, made 180%, took profits and bought another one. Damn blind squirrel finds a nut once in a while.
McInnis 03
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AG
I kind of did the same, but sold higher calls to recover risk, was able to hold onto one spread and one butterfly. I'll be looking to see if I can do more of the same today.
ProgN
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Quote:

Peloton's stock falls toward 6th-straight loss after report of coming competition from Apple
If you're in the camp that we have a pullback, PTON would be a prime put candidate.
McInnis 03
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AG
Prognightmare said:

Quote:

Peloton's stock falls toward 6th-straight loss after report of coming competition from Apple
If you're in the camp that we have a pullback, PTON would be a prime put candidate.
Redler discussed this in his morning video. He's of the thought that at 60 he's adding it back in for a long term hold. Thinks this could be emotional pullback on the Apple news.
59 South
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AG
Yep that's previous support and 50 EMA
ProgN
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Apple cloud hanging over PTON will make in very susceptible to a quick drop and shorts would feast on it should the market indeed correct.

I have no skin in that trade either way. PTON doesn't interest me.
59 South
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AG
Yea I don't have any skin in that either and also not really interested in what could end up just being a fad stock.

The only thing I find interesting about it is those users in those yoga pants.
If this post is on the B&I forum, lighten up it's just money!

Disclaimer: I'm not that smart.
ProgN
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59 South said:

Yea I don't have any skin in that either and also not really interested in what could end up just being a fad stock.

The only thing I find interesting about it is those users women in those yoga pants.
FIFY and YES

oldarmy1
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AG
Look at that selling volume during the MARA drop. Clearly big money has been content to let it drop but sellers are drying up.

59 South
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AG
I just assume only women use them... if that makes me a biased bigot so be it...

If this post is on the B&I forum, lighten up it's just money!

Disclaimer: I'm not that smart.
cmk10
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AG
So what does that mean?
ProgN
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oldarmy1
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AG
cmk10 said:

So what does that mean?
It was a buy signal.
gougler08
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AG
RVLV killed earnings
59 South
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AG
Clear rotation back to tech for next leg up it seems. Daniel bat signal???

The 59 fund is rocking this morning. SQ and maybe/hopefully ROKU getting their act together.
If this post is on the B&I forum, lighten up it's just money!

Disclaimer: I'm not that smart.
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