FJ43 said:

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TriumphForks said:

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OA seems to still be confident on ONTX

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Thanks I missed that tweet from OA. For ONTX'ers it may be worthy of reading the thread to that tweet and responses.

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I was literally about to sell the bottom until I loaded up OAs Twitter in search for a lifeline. Thankfully I found it...

Now let's just hope that was the bottom.

Time to be thinking about those stocks you missed out on and never got in. For me its OSTK and NIO...but when do I dip my toe in? Watching closely, but I've never been good at catching a falling knife.

GOCO support at these levels is strong.

I was watching to see if it bottomed to add shares. I did a GREAT job of missing it.

OSTK is hard to resist..... but it's been tempting me since $90

GOGO has held up incredibly well here, it's up again today.

Roku is down $35 in 2 days just an FYI. I would say that is on super sale.

Aggiesincebirth said:

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Roku is down $35 in 2 days just an FYI. I would say that is on super sale.

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AMD another big sale.

hedge said:

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Loaded up on Apple. Amazon and Tesla

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Three options IMO:

1) Sell covered calls far enough outside the money that you think you won't be assigned to get back some of your losses
2) Average down at major supports
3) Just sit on them and wait

But I day trade mostly. I don't pay attention to my long-term portfolio. I pay someone else to do that. So take that into account for my opinion

gig em 02 said:

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McInnis 03 said:

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McInnis 03 said:

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I think if you learn a lesson during your adventure, it's important to post it here. We need to teach each other as much as giving picks and fun stories, etc.

Two painful lessons I've learned this week, learn from me. (Many of you will laugh at me for these, but hey, share and learn is better than learning alone).

1) When VIX is rising WITH the Indicies, this is a bearish divergence that you HAVE TO pay attention to. It's worth taking some risk off when this appears.
2) DO NOT TAKE RISK OFF ON HEDGES. I screwed myself by capping myself by taking risk off on SPY puts yesterday. Had I not converted these puts to small put spreads I'd have saved myself SEVERAL percentage points. I try to be risk averse, and this cost me big yesterday. Let your hedges run or fail. They're there for a reason.

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Some perspective on number 2. I bought 355puts at .90 each a few days ago. Those are worth 18.53 right now. Huge account saver but I got stupid thinking I'd take some gains and lock them in.

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Number 1 is exactly why I was nervous on Wednesday, so I thinned out my winners, dumped my losers and bought a 9/9 SPY 356P.

Number 2 is exactly why I shouldn't have sold the 356P for 150% gain on Thursday, I could have sold it today for 20x. A win is a win, even when everything else is a loss.

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For #2, I had following expiring today. By far my best market timing luck I've done but oh man what could have been.
6 NVDA $550P purchased at $5.70 (still sitting on one, average ~20% gain on the others where I sold them)
2 TSLA $540P (purchased at $65 essentially as a short sell). Sold 1 at $100 and still riding 1
100 VXX $29C (purchased at $0.50). Sold 75 at meager gains, riding 25 still.

Really torn now about if I should just exit and go to spec's or cling on until near close.

Orlando Ayala Cant Read said:

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oldarmy1 said:

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Brutal selloff but the gap filled so some value buying here makes sense.

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OA, what do you think is really badly oversold right now? For us longer simple traders just to hold and watch for a while?

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I bought NVDA and Amazon.

What's everyone's thoughts on SDC?

I sold all my shares yesterday in the upper $10's, may be looking for re-entry if it drops back under $9.

I'm actually upside down for first time in months....lost all profits and actually losing.
I dont play options and straight stocks are kicking my ass. Guess I have no option but just to hold and pray.

My watch list of stuff I shoulda, woulda, coulda bought is more red then my portfolio today...at least I got that going for me.

Seriously, next stop for SPY is 50day ema?

ag94whoop said:

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I'm actually upside down for first time in months....lost all profits and actually losing.
I dont play options and straight stocks are kicking my ass. Guess I have no option but just to hold and pray.

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This is me too. I was up BIG BIG BIG April -yesterday. Now for the first time in the minus.

I'm a simple trader that needs to recover but seems like this is a similar situation to when I first got in back in April so money can be made I think.

Are you any of you actually buying those Apples, Microsofts, Amazons, AMDs today or going to wait it out until Tuesday?

Well what do ya know looks like I'll be taking the tarp off this afternoon as we get closer to the Model Yugo.

McInnis 03 said:

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Seriously, next stop for SPY is 50day ema?

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I think we'll see the 50DMA before we reclaim the 20DMA.

I'm trading technicals and pivots off PS60, so take that into account. I just personally think visiting the 50DMA will happen and is a healthy pullback. I don't care if I'm wrong because I'm not betting on either side of it. I'll play whichever direction the market gives me.

Orlando Ayala Cant Read said:

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Are you any of you actually buying those Apples, Microsofts, Amazons, AMDs today or going to wait it out until Tuesday?

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I'd rather pay a little more on Tuesday with a confirmation of reclaiming a support than watch it go against me.

If todays current breaks, watch out below.

Rebuy when I see some real support. Index funds first. Then my few stock holdings. All will be in my retirement. Only non retirement I hold still is SDC in stocks.

Orlando Ayala Cant Read said:

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ag94whoop said:

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I'm actually upside down for first time in months....lost all profits and actually losing.
I dont play options and straight stocks are kicking my ass. Guess I have no option but just to hold and pray.

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This is me too. I was up BIG BIG BIG April -yesterday. Now for the first time in the minus.

I'm a simple trader that needs to recover but seems like this is a similar situation to when I first got in back in April so money can be made I think.

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Im debating dumping CRWD and possibly QQQ and using proceeds to buy either AAPL, WMT or AMD

CreakinDeacon said:

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Orlando Ayala Cant Read said:

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Are you any of you actually buying those Apples, Microsofts, Amazons, AMDs today or going to wait it out until Tuesday?

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I'd rather pay a little more on Tuesday with a confirmation of reclaiming a support than watch it go against me.

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Ya I'm leaning this too.

Back in March I, probably all of us, lost a bundle. Up until yesterday, I had made it all back plus. Should be fine.

The beast is trying to reverse. (AMZN). Needs to bust 3227 to really make any legit attempt at one. (i'm not buying even if it does, just trying to watch the doctors save the patient)

I might just be able to claim 'we won today' with the wife if I can close today where we left off yesterday.

Been really busy this week (it always seems to happen this way) and also have taken a waaaay longer term approach recently to reset... but reviewing a few charts, I noticed quite a few trend lines are still being respected (SPY, ROKU for example). The other thing I noticed was the NIO capitulation at 9:44. That would have been a heck of a day trade if one was watching it closely.

TriumphForks said:

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OSTK is hard to resist..... but it's been tempting me since $90

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61 is now support... and credit to Prognightmare, he called 61 as a gap fill and buy. Funny, HP also had that gap pegged a couple days ago.

It's not out of the woods yet though. B of America issued coverage and a PT of 78 on it - comical b/c their offering purchase was at $84, so this puppy is going up soon!

snuck into a google 1610/1600 put. that's going to be very nice.

Will buy NDX at 11,100.

Jet Black said:

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Back in March I, probably all of us, lost a bundle. Up until yesterday, I had made it all back plus. Should be fine.

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Yep, I think we all knew it was extended, hurts to have basically a market correction in 2 days but I do think we'll level out soon

some food for thought on volatility and the drop thus far. I have 331.70 as next fib level down