Slappy007 said:

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ag94whoop said:

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Aggiesincebirth said:

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ag94whoop said:

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I feel like CLOV is playing a game of limbo....how low can you go?!!

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I am actually worried i am going to wake up tomorrow and it will be $0. I have never seen a stock that is this well liked, fall 50% in 2 weeks with constant 8% down days and no up days. Even after hours down another 5%. Very frustrating to watch.

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Yeah even as a total newbie this makes no business sense to me.

The only thing I can think is that this is a massive shorting by several parties, who probably pressed for the Hindenburg report, then contracted with 6-8 firms to file CALs and drive the price down. I just wonder where bottom is for them. I really thought $10 was bottom.....actually I thought $12, then 11, then $10.
Can anyone find out how high % of float is shorted? Yahoo says N/A for % of float but 4.91% of outstanding shares. I am wondering if this is just a case of the short sellers over doing it and driving it a little too hard down and creating a panic. IDK....but I would never have thought WWR would fall back into the $5s either....so wth do i know...lol

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CLOV reminds me of FSR back in late October. My guess is it may potentially sink another $1 or so, but you'll want to be involved in the ride back up.

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AgsnFly said:

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ag94whoop said:

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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.

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I would only add that you always remember that a trader's success is reliant on the cardinal rules of trading. Of these rules, some of the most important are the need to be patient with the winners and impatient with the losers.
This thinking is contrary to human nature which generally results with traders wanting to take profits quickly and sit on losers until they are successful. Human nature demands success and wanting to be successful on a trade keeps us from being disciplined in taking a loss that salvages our trading account.
This mindset works best when trading a trend and is the best path to wealth accumulation. Trading markets where mean reversion is paramount is a bit different but the rules still apply. Best wishes

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Jet Black said:

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What are the thoughts on FUBO?

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mazag08 said:

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WWR 50% retracement from it's high is $5.67. If it holds that through tomorrow, you know what to do.

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Red Rover said:

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FJ43 said:

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

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So should we have used the dead cat bounce to get out of plays more volatile right now and shore up cash position? Did I miss an easy read on yesterday?

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Mostly Foggy Recollection said:

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Talked to FJ today. We both agreed that a Sunday post with our hedges would be a good idea.

In a sideways market, being really good at playing weekly SPY or QQQ calls/puts can create good habits and have insurance against your holds.

I'm telling most of you newbies, if you don't hedge against your one sided plays, you won't last long in a market that isn't a bull market on steroids.

I see a lot of panic, and it doesn't have to be. Hedges are insurance and in large corrections they can pay out big. I saw a guy have 5K in March weekly puts last year turn that into a 50 bagger.

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kyledr04 said:

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Do you think of covered calls as hedges too? Up to a point, I had stocks with covered calls that were still green. They were eventually red but the calls helped. I started following this thread I never thought about the value of a covered call.

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BREwmaster said:

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Jet Black said:

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What are the thoughts on FUBO?

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All in. I got back in on a good dip, but this is in a long term acct (ira). I'm selling cc's on it as well. There is quite a bit of big $ in it now. They might pull a fruit stock on it thru march expiration, but after that, She gone!

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$30,000 Millionaire said:

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Here, some simple suggestions on strategies. While the market could sell from here, this is not really where you want to try to hedge or short from. You want a retracement bounce before you consider it.



Some choices to consider:

• Buy shares in SH around SPX 3860 (mean reversion). Decide your stop obviously
• Buy shares in SPXS or SPXU. You can also buy calls in these as a hedge. This is what OA does. I personally am carrying SPXU shares because I believe the EOY will tank and I want some flexibility for when it does go gangbusters to the downside
• Buy monthly long puts at the retracement point. You can go OTM to get more options cheaper or you can go ATM if you want better theta decay economics. if you are targeting SPY 375, I would enter SPY 370P or 375P
• Buy put debit spreads, likely SPY 380/360 or even 380/365. The short puts will help offset the cost of the long puts and make theta decay easier to stomach. Your profit is capped, but it is unlikely we go below SPY 365, given that is around the -3 ATR range
• Buy put butterflies that are sufficiently wide. For example, SPY 380/360/340 or 380/365/350. 380/370/360 will be the cheapest but are the least forgiving. Remember with butterflies that you have to be right on both the time and the price

For me personally, I cashed hedged on Monday near the bottom. I did not reload because I am waiting for the retracement. In hindsight, I obviously would have.

Don't get too caught up in trying to be bearish, the macro trend is still up

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