I think a fund blew up.

$30,000 Millionaire said:

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I think a fund blew up.

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I'm interested in knowing more!

ClutchCityAg said:

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$30,000 Millionaire said:

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I think a fund blew up.

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Bc of GME?

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unknown, but relentless selling like this is algos.

$AAPL 7.57M Vol at the close

LOYAL AG said:

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$30,000 Millionaire said:

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I think a fund blew up.

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what does that mean?

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someone was liquidating, fast

Don't look at the one month chart on CLOV. Don't do it.

Spaceship said:

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Don't look at the one month chart on CLOV. Don't do it.

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cant be as bad as the one month chart for my account

Every single one of my positions closed out red.... that's a first

AgsnFly said:

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LOYAL AG said:

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$30,000 Millionaire said:

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I think a fund blew up.

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what does that mean?

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It may mean that an extremely large fund (or several) was very long equity against interest rates or was very short gamma on equity indices. Probably the former. As traders, it is valuable to know if price moves are exasperated due to blow-ups versus fundamental price reactions.

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That is all above my pay grade.

My tax refund hit before close so I dumped it into AAPL before the closing bell.

Turnaround starts tomorrow, right?

BREwmaster said:

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$30,000 Millionaire said:

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I think a fund blew up.

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Why in the hell would they short GME after last time?? Are funds really this stupid.

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They never got out

AgsnFly said:

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ag94whoop said:

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Well today has been an absolute bloodbath for me. A week ago I was up 20% for the year. As of now I'm down 20% for the year I've lost 40% of my value in my trading account in in three days. Holy crap. Tough lesson to learn.

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Not to lecture but trading is all about discipline. This should never happen to a trader - investors are different. Which are you? Disciplined traders take losses when markets say they are wrong. Use stops if you are trading and think of high water marks on your account.

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Despite years of experience in business and entrepreneurship, I am literally a newborn in trading.
First ever trade was Jan 14, 2021, literally 6 weeks experience.

No one has directly taught me anything and what I have learned I learned on youtube and on here from you gentlemen, although sometimes I feel like yall speak a completely different language...lol. I missed OAs previous course. I started by swing trading stuff I knew like SNAP, UPWK, HD, APPL, SDC, PINS, PENN etc and frankly did ok, but the market was always good so I guess in hindsight any dummy could have done as well. I then followed a few Texags buys like WWR, EBON, ONTX, XL etc and made even better money. SO I then dove hard into CLOV, WWR again at higher price, DPW, and a bunch of others and I now know I missed the buys on several and the market has tanked on them all.

I dont ever day trade, but what I was primarily doing was swing trading for income with 2 day to 2 week target flips. While I am slowly learning charting, and can see market swings to a degree, I am very raw and inexperienced and there is SO much I dont know. I fully admit I am poor at understanding options trading and since I dont understand it well I dont do it, which kills some of my ability to hedge. I know I need to learn this. I am signed up to take OA's class this Saturday, although I coach soccer and may not be able to watch live unless it rains.

In addition, I am using You Invest which I dont think is very user friendly and I am not sure how to set stop losses on it. I have been doing everything manually outside of limit buy and sells.

I realize I made several poor buy price decisions and several poor "non sale" decisions. Those are wrecking me big time. But I DO think they may be good long term, although the continuous daily sliding is concerning.

From Jan 14 to Feb 4 I traded for $32k in realized gain. Since then, that has completely eroded (mostly in the last few days) to a $8k loss. At this point, I honestly dont know how to proceed. My gut instinct is that my 4 biggest current losers (WWR, CLOV, DPW and TLRY) will rebound at some point and become profitable if I am willing to hold them for months. Not sure what to do with the rest. I know the first thing I need to do is learn how to trade options so I can attempt to hedge.

I dont have any problem humbly admitting that I dont know what I am doing and love to hear guidance from a bunch of good Ags. I know yall will help and eventually I will learn this stuff and begin to make some money at it.

I also just realized that half my posts are novels....lol

Funny how this all works. I present today's SPY in the white box. Ended basically same place we visited just 2 days ago.