10 year yield down 7 points. I think we stay in the green today. Tech with a nice bounce.
Aggiesincebirth said:$30,000 Millionaire said:
By the way, I kind of like the sentiment in here that tech stocks are done and won't rally. Your faces may be ripped off.
I would welcome my face being ripped off if I can spare my cojones. Right now those are pretty blue...
Any guidance on when my face might rip off? Was hoping Friday was the end of it and I'm not sure what changes to make me more bullish but this beat down is brutal
Aggie118 said:
I know this is a pretty subjective question, but as someone relatively new to all of this, how do y'all decide when to take profits? Also how do you decide how much to take?
Obviously there's no way to know for sure when a stock is at its peak (otherwise we'd all be mega millionaires), however I just wanted to see if y'all had a philosophy as to when you decide to take profits, and how much.
Thanks!
$30,000 Millionaire said:
Saying more, forget trying to get the absolute top tick or the bottom. It just doesn't matter, other than to your ego. Catch the move and be happy catching some or most of the move. Be grateful for the times you catch the top.
Pigs get fat, hogs get slaughtered.
My personal rule is that if my option goes to -30% I sell. It means I timed it wrong and I need to do better.RigsTx said:$30,000 Millionaire said:
Saying more, forget trying to get the absolute top tick or the bottom. It just doesn't matter, other than to your ego. Catch the move and be happy catching some or most of the move. Be grateful for the times you catch the top.
Pigs get fat, hogs get slaughtered.
Where I have trouble is determining a stop loss (on paper) for my options trades.
Yeah I thought I was gonna have an ok day and still ended up in the red. Last week and a half have killed mecageybee77 said:
Yesterday started bullish - then tech went to poop. Hopefully, today will be a bit better.
Until PLTR jumps above $25.50 again I'm not even looking at it. I'm HODLing.CrazyRichAggie said:
PLTR with over 2MM volume pre market.
$30,000 Millionaire said:
One more thing - half or more of my trading is just grinding. It is trying to get the basis of shares to zero and then keep monetizing.
Take GPL for example. It's down $0.10 from where I bought it, but I sold a covered call for $0.12, so I've lowered my basis from $0.92 to $0.80. As soon as March expires, I'm going to do it again, and again, and again. It may take me a year but I will have effectively free shares.
fastgreens said:
Any thoughts on $M? Looks like April $15 Puts might be a good buy when the market opens???
Aggiesincebirth said:$30,000 Millionaire said:
One more thing - half or more of my trading is just grinding. It is trying to get the basis of shares to zero and then keep monetizing.
Take GPL for example. It's down $0.10 from where I bought it, but I sold a covered call for $0.12, so I've lowered my basis from $0.92 to $0.80. As soon as March expires, I'm going to do it again, and again, and again. It may take me a year but I will have effectively free shares.
Is it fair to assume woth this strategy that you never deploy capital back into the same stock when you sell the calls? I have done both but almost seems to make more sense to get all of your capital out and moved into something else then those shares are actually free in the case that if the stock goes to zero you lost nothing but time and your return but your capital has been deployed elsewhere
khaos288 said:
first person to mention fruit stock by name gets whacked
$30,000 Millionaire said:fastgreens said:
Any thoughts on $M? Looks like April $15 Puts might be a good buy when the market opens???
Why?
considering it's been a bloodbath for days, a 3 point jump is anti-pattern and not what I would consider modest.txaggie_08 said:khaos288 said:
first person to mention fruit stock by name gets whacked
Why would you mention it now? Pretty modest move PM, lets see if it actually gets going the right direction during trading hours.
this is exactly where I have my price alert setMcInnis 03 said:Until PLTR jumps above $25.50 again I'm not even looking at it. I'm HODLing.CrazyRichAggie said:
PLTR with over 2MM volume pre market.
$30,000 Millionaire said:
One more thing - half or more of my trading is just grinding. It is trying to get the basis of shares to zero and then keep monetizing.
Take GPL for example. It's down $0.10 from where I bought it, but I sold a covered call for $0.12, so I've lowered my basis from $0.92 to $0.80. As soon as March expires, I'm going to do it again, and again, and again. It may take me a year but I will have effectively free shares.