I'm curious where gas is already 5/gal. I'm in WA state and it's still in the low to mid 3s even with all the ridiculous taxes up here.
Stock Markets
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Last: 1 hr ago by South Platte
Average is under $3/gal so I would doubt you're seeing average $5 gas in any market.
wanderer said:ag94whoop said:White House Road said:ag94whoop said:Killin Me Smalls said:
Thinking I should take my 26% loss and run!
Better than my 40% loss on it. I bought DPW and WWR high and that was my bad and they are killing me. CLOV I bought at $14 and It's as bad as DPW.
I have faith in WWR. Not so much in CLOV or DPW. Tbh I am just giving them time to climb at least partially out of the hole before I exit.
DPW and WWR have both been great to sell covered calls on spikes and buy them back on dips to collect premium and lower your cost basis.
Yeah I just started doing CCs about 10 days ago and I haven't tried it on either of them yet because the better call prices were quite a bit lower than my cost and I was nervous it would shoot up and I would either have to buy back at a premium or lose money on the shares. I may try starting that this week and just hope for the best.
Hope isn't a strategy. There's a reason you're posting everyday about being down big on every little market dip. (don't want this to come off as rude)
I agree. And I take the criticism on here to heart but not personally. I worked hard in life to overcome mistakes and bad breaks. I live conservatively so that when things don't go well, my family can survive. I'm 49, I've saved enough cash for all three of my kids to go to college, all cars, ranches and my house are all paid off. I have some money in mutual ladders, some money professionally managed by JPM, and then I started experimenting with trading in January '21 since my consulting business has been down (although it's suddenly back up). I made some early mistakes and I do have strategies going forward, but unlike many on here, I'm new and I don't mind a little risk so I am risking a portion of the portfolio that I am not sure about yet. I will work it out. Hope is not a strategy, but I have been proactive and have exited numerous positions and reset into some cash with profits, I'm just not as rushed as I was a few weeks ago.
I don't regret talking on here or making comments. I have stopped complaining much. What little "negative" comments recently I have made are about specific positions or about our new administrations policies and how they may be affecting us going forward and often they are in jest.
Frankly, I'm just doing trial by fire and learning so that if I want to do this full time in a few years I will have developed some of the skills.
I'm still up about 9% for my first 2 months trading so that isn't all that bad. I do truly appreciate the help, the comments and even the criticism. It's how I learn to get better
Glad you are here and best of luck! Lot to learn about this business but this thread is the best place to set your foundation.
I enjoy your posts. Many of your questions are ones that others of us find beneficial as well.
I think some of the earlier posts people jumped on you for calling yourself a trader. That could be dangerous to say when you're obviously inexperienced at it. You're trying to learn as am I.
Diggity said:
Average is under $3/gal so I would doubt you're seeing average $5 gas in any market.
I think Tic is in so cal.
You don’t trade for money, you trade for freedom.
I am macro bearish for the second half of this year. Feels like still one more leg up.
How are you feeling about UPWK, BTWN, MU, and ASAN?
How are you feeling about UPWK, BTWN, MU, and ASAN?
You don’t trade for money, you trade for freedom.
At what point should we cut losses on the BTWN 4/16 calls? I know it's still early.
Just keep learning and taking it all in. Careful with position sizing. You don't always need home runs. Set S/L and respect it. Can always enter again later.
Don't blow up a six figure account learning.
Don't blow up a six figure account learning.
$QQQ
Tricky tape IMO. I see a big move one way or another. Depending on how you look at the charts, I see a bear and bull case:
Bear case: Head and Shoulders formation on the daily with a slanted neckline. If we lose ~312 on Monday I could see us testing that neckline again and ugliness setting in when capitulation ramps up.
Bull case: Inverted Head and Shoulders formation on the daily with a neckline at 324. QQQ has been rejected six times at 324. This is a big level and if we want any move up we have to reclaim that level and hold a backtest.
Looking at these charts with blinders and only paying attention to TA. Next week will be telling.
Tricky tape IMO. I see a big move one way or another. Depending on how you look at the charts, I see a bear and bull case:
Bear case: Head and Shoulders formation on the daily with a slanted neckline. If we lose ~312 on Monday I could see us testing that neckline again and ugliness setting in when capitulation ramps up.
Bull case: Inverted Head and Shoulders formation on the daily with a neckline at 324. QQQ has been rejected six times at 324. This is a big level and if we want any move up we have to reclaim that level and hold a backtest.
Looking at these charts with blinders and only paying attention to TA. Next week will be telling.
Things were a little better yesterday. Some energy got burnt off
You don’t trade for money, you trade for freedom.
Just my two cents, as my experience isn't too far from yours. Many of the plays on this board (high beta, OTM calls) require way too much attention/experience to be successfully traded with any consistency. There is very little discussion of risk management (entry and exit strategies). I've stopped following as closely, but still enjoy this thread.
I started about the same time as you being more active. I SHOULD have started by reading a couple of books. This thread is very interesting and I have learned a lot from following it. Also recommend reading every post of aggiedaniel06.
These have probably been mentioned on this thread before (good luck finding it...), but I am following this path:
- read "Trade Like a Stock Market Wizard" - Mark Minervini (good twitter follow)
- reading "How to Make Money in Stocks" - William O'Neal (IBD creator)
- initial subscription to IBD Digital
- trial subscription to IBD Leaderboard
- track every trade. keep stats. review and improve.
- read those books again
- Scott Redler is also a very good twitter follow...a lot of his plays show up on this board. Like his perspective, but can only follow/use them if you are day trading. The strategies are similar as above, but with a very short time window which make them much harder to trade without experience.
Start with the Risk Management chapters in the Minervini book. This website gives a visual of the benefits of risk management: https://niclashummel.com/risk-simulator/#mainGraph
My current thinking...any hope to do this long term requires disciplined risk management. Fewer positions (can be large positions after some experience) with precise entries, but with defined/tight stops. The choppier the market the tighter the stops/exits. Never move the stop down...only up.
Good luck!
I started about the same time as you being more active. I SHOULD have started by reading a couple of books. This thread is very interesting and I have learned a lot from following it. Also recommend reading every post of aggiedaniel06.
These have probably been mentioned on this thread before (good luck finding it...), but I am following this path:
- read "Trade Like a Stock Market Wizard" - Mark Minervini (good twitter follow)
- reading "How to Make Money in Stocks" - William O'Neal (IBD creator)
- initial subscription to IBD Digital
- trial subscription to IBD Leaderboard
- track every trade. keep stats. review and improve.
- read those books again
- Scott Redler is also a very good twitter follow...a lot of his plays show up on this board. Like his perspective, but can only follow/use them if you are day trading. The strategies are similar as above, but with a very short time window which make them much harder to trade without experience.
Start with the Risk Management chapters in the Minervini book. This website gives a visual of the benefits of risk management: https://niclashummel.com/risk-simulator/#mainGraph
My current thinking...any hope to do this long term requires disciplined risk management. Fewer positions (can be large positions after some experience) with precise entries, but with defined/tight stops. The choppier the market the tighter the stops/exits. Never move the stop down...only up.
Good luck!
FriscoAg95 said:
Just my two cents, as my experience isn't too far from yours. Many of the plays on this board (high beta, OTM calls) require way too much attention/experience to be successfully traded with any consistency. There is very little discussion of risk management (entry and exit strategies). I've stopped following as closely, but still enjoy this thread.
I started about the same time as you being more active. I SHOULD have started by reading a couple of books. This thread is very interesting and I have learned a lot from following it. Also recommend reading every post of aggiedaniel06.
These have probably been mentioned on this thread before (good luck finding it...), but I am following this path:
- read "Trade Like a Stock Market Wizard" - Mark Minervini (good twitter follow)
- reading "How to Make Money in Stocks" - William O'Neal (IBD creator)
- initial subscription to IBD Digital
- trial subscription to IBD Leaderboard
- track every trade. keep stats. review and improve.
- read those books again
- Scott Redler is also a very good twitter follow...a lot of his plays show up on this board. Like his perspective, but can only follow/use them if you day trading. The strategies are similar as above, but with a very short time window which make them much harder to trade without experience.
Start with the Risk Management chapters in the Minervini book. This website gives a visual of the benefits of risk management: https://niclashummel.com/risk-simulator/#mainGraph
My current thinking...any hope to do this long term requires disciplined risk management. Fewer positions (can be large positions after some experience) with precise entries, but with defined/tight stops. The choppier the market the tighter the stops/exits.
Good luck!
Great list! I will get a couple abs read them.
Thanks!
I did not get assigned on IVR and I sold 4C. Woot!
You don’t trade for money, you trade for freedom.
Is everyone here bearish? We could puke. Trying to gauge sentiment.
You don’t trade for money, you trade for freedom.
Mostly Foggy Recollection
Joined:
Oct 5, 2020
Posts:
7,768
How long do you want to ignore this user?
I'm middlin' which is probably more scary than having conviction either way.
I do think Monday is green.
I do think Monday is green.
I think we retrace you 378 on the SPY before we get back close to 400.$30,000 Millionaire said:
Is everyone here bearish? We could puke. Trying to gauge sentiment.
Risk reduction (not elimination) mode myself.
similar. We are chopping wild like we did for a couple of months leading into the election.Mostly Foggy Recollection said:
I'm middlin' which is probably more scary than having conviction either way.
I do think Monday is green.
$30,000 Millionaire said:
Is everyone here bearish? We could puke. Trying to gauge sentiment.
Being extremely selective in anything I carry overnight and sized down. Intraday mostly for me
How's the feeling on BFT?
PSA the Walrus just texted me from quarantine...
"We got em right where we want em. Several TexAgs thread contrarian bullish algo triggers emerging. SPY 400 by Friday and likely 405+++ cheers mate."
"We got em right where we want em. Several TexAgs thread contrarian bullish algo triggers emerging. SPY 400 by Friday and likely 405+++ cheers mate."
If this post is on the B&I forum, lighten up it's just money!
Disclaimer: I'm not that smart.
Disclaimer: I'm not that smart.
$30,000 Millionaire said:
Is everyone here bearish? We could puke. Trying to gauge sentiment.
Short term, I think anything is possible.
The more time goes on, the closer I feel we are getting to the bubble popping.
PSA bubbles end in blow off tops not rolling tops. Zoom out on your charts folks.
If this post is on the B&I forum, lighten up it's just money!
Disclaimer: I'm not that smart.
Disclaimer: I'm not that smart.
cageybee77 said:
I'm following the effect of interest rates on growth. What I'm not following is that the fed is saying we are coming out of a recession - quickly. Why wouldn't that be good for all stocks? Thanks.
Stock market very forward looking and has already discounted those assumptions. It always leads.
Gut says slightly bullish. Head says we're at a pivotal point and need to be neutral waiting to see how next week unfolds. I think we see a big move either way after looking at QQQ and SPY. Do the Qs complete the inverse head and shoulders and SPY bounce from the March 2020 trend line with conviction, or do the Qs complete the head and shoulders reversal and SPY lose the March 2020 trendline and then the ugliness begins.
If you believe in cyclical repeating, you could look at the S&P and NASDAQ and guestimate a sizeable pullback within 2 weeks, probably by Apr 9. Being cautious is definitely wise right now and probably working to increase cash position or at least rotate. I do think that while tech will take a big hit, and banks just did and may continue to, but I do think some biopharm, energy, and some defi may still play well. I am mostly focused on reducing position size where I can do so effectively and if I buy, I only buy value stocks or value positions
and don't feel bad if someone busts your chops here. I still get replies like, "duh, inflation, look at the price at the pump when you filled up your truck you mo-ron". LOL. That wasn't verbatim, but close.
really curious to see futures tomorrow, not that they matter much.
really curious to see futures tomorrow, not that they matter much.
/NQ - lots of fear about the Nasdaq. Here's the weekly / daily. NQ bounced on the weekly mean. The last couple of times this has happened, the market has rallied
You don’t trade for money, you trade for freedom.
nice typo, Biden "erection" January 6th, hahaha.$30,000 Millionaire said:
Anyone here follow tic toc tick? It's hard to tell what the guy really thinks - he's posting stuff like this now:
it is hard for me to take that seriously when it looks like he created it on a napkin at a bar.
On the monthly, we touched the 8 EMA this month. I could argue this is consolidation for a continued move up. I could also argue broadening top. This does not have the look of a parabolic end, though.
The earlier example does, though.
The earlier example does, though.
You don’t trade for money, you trade for freedom.
Wonder how weed plays like SNDL and mining/materials stocks like DNN or WWR hold up in an environment that punishes tech/growth. Lot of favorable trends for mj plays in any environment I would think. Would think green energy and electrification trends continue regardless too. So maybe these positions don't need to be pared back as much if we're trying to increase cash in our portfolios and limit downside risk. But I'm just an idiot amateur talking out loud.
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