OK NOW LETS GO !!!

FJ43 said:

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OK NOW LETS GO !!!

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There's the model T, now its war!

McInnis 03 said:

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I missed this by 20 minutes. Anyways, this guys is a freaking vacuum cleaner on trash stocks.

Today, my attorney is filing for custodianship of $MEIL on my behalf. Those buying shares must know that there is incredible risk here. My application could be denied. I could find really bad skeletons.
Do not ask me questions regarding the progress. You will be blocked

— George Sharp (@GeorgeASharp) May 4, 2021

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Feels like we missed this one no?

Up 100% already, don't feel like chasing, lol

AG 2000' said:

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McInnis 03 said:

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I missed this by 20 minutes. Anyways, this guys is a freaking vacuum cleaner on trash stocks.

Today, my attorney is filing for custodianship of $MEIL on my behalf. Those buying shares must know that there is incredible risk here. My application could be denied. I could find really bad skeletons.
Do not ask me questions regarding the progress. You will be blocked

— George Sharp (@GeorgeASharp) May 4, 2021

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Feels like we missed this one no?

Up 100% already, don't feel like chasing, lol

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I bought $100 worth because I ain't missing equity doge.

So with all of these Sharp pennies... It looks like the best thing is to buy in and go net free ASAP. Then hope one of them ignites. Or buy in and sell out, making small profits at a time. Right?

Gets back below 20 and I'll start looking for upside plays.

AgEng06 said:

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So with all of these Sharp pennies... It looks like the best thing is to buy in and go net free ASAP. Then hope one of them ignites. Or buy in and sell out, making small profits at a time. Right?

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Just me but I never put anything into these I would care if I lost 100%.

Its all or nothing for me on these.

McInnis 03 said:

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AG 2000' said:

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McInnis 03 said:

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I missed this by 20 minutes. Anyways, this guys is a freaking vacuum cleaner on trash stocks.

Today, my attorney is filing for custodianship of $MEIL on my behalf. Those buying shares must know that there is incredible risk here. My application could be denied. I could find really bad skeletons.
Do not ask me questions regarding the progress. You will be blocked

— George Sharp (@GeorgeASharp) May 4, 2021

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Feels like we missed this one no?

Up 100% already, don't feel like chasing, lol

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I bought $100 worth because I ain't missing equity doge.

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You were supposed to say don't do it.

FJ43 said:

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AgEng06 said:

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So with all of these Sharp pennies... It looks like the best thing is to buy in and go net free ASAP. Then hope one of them ignites. Or buy in and sell out, making small profits at a time. Right?

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Just me but I never put anything into these I would care if I lost 100%.

Its all or nothing for me on these.

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Agree. Same with me.

AgEng06 said:

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So with all of these Sharp pennies... It looks like the best thing is to buy in and go net free ASAP. Then hope one of them ignites. Or buy in and sell out, making small profits at a time. Right?

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and do it small.

In all seriousness, my biggest play on pennies is $500, this is a token amount for me. If it goes to zero I'm ok, my other penny plays are $200 and the rest are $100.

McInnis 03 said:

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AgEng06 said:

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So with all of these Sharp pennies... It looks like the best thing is to buy in and go net free ASAP. Then hope one of them ignites. Or buy in and sell out, making small profits at a time. Right?

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and do it small.

In all seriousness, my biggest play on pennies is $500, this is a token amount for me. If it goes to zero I'm ok, my other penny plays are $200 and the rest are $100.

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I own 6000 shares of GVSI... sounds like a lot.

Its $85 bucks but it is going to a dollar or more.

LOYAL AG said:

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FJ43 said:

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He preaches this non stop.

Most active traders that lose a lot of money. Make excuses in their heads for holding onto a stock that breaks the 8/21day. U can always revisit

— Scott Redler (@RedDogT3) May 4, 2021

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I'll readily confess to violating this regularly. Sometimes it's just not wanting to book that loss and sometimes I have legit reasons like not being able to pay close enough attention. This is probably my biggest emotional weakness though and definitely the one thing I'm most focused on as a trader.

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Just to be clear. Is he talking about the 8 day EMA crossing the 21 day EMA?

irish pete ag06 said:

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LOYAL AG said:

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FJ43 said:

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He preaches this non stop.

Most active traders that lose a lot of money. Make excuses in their heads for holding onto a stock that breaks the 8/21day. U can always revisit

— Scott Redler (@RedDogT3) May 4, 2021

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I'll readily confess to violating this regularly. Sometimes it's just not wanting to book that loss and sometimes I have legit reasons like not being able to pay close enough attention. This is probably my biggest emotional weakness though and definitely the one thing I'm most focused on as a trader.

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Just to be clear. Is he talking about the 8 day EMA crossing the 21 day EMA?

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No. If a stock loses both the 8 Day EMA and the 21 Day EMA get out is his process. He is saying you can always revisit or get back in when it reconfirms support.

This an easy exercise for anyone to 'fact check'. Just look at 10-15 stock charts and those that lost both the 8 & 21. Did they go lower yet or just bounce back up. His premise is it has a high % of continuing lower and you can buy back in vs. letting it rise down.

He is an active trader and is one of his major indicators.

SF2004 said:

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McInnis 03 said:

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AgEng06 said:

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So with all of these Sharp pennies... It looks like the best thing is to buy in and go net free ASAP. Then hope one of them ignites. Or buy in and sell out, making small profits at a time. Right?

---

and do it small.

In all seriousness, my biggest play on pennies is $500, this is a token amount for me. If it goes to zero I'm ok, my other penny plays are $200 and the rest are $100.

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I own 6000 shares of GVSI... sounds like a lot.

Its $85 bucks but it is going to a dollar or more.

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Yeah, same here. I'm in for 10,000 shares of GVSI for ~$170. Don't think I'd do more than $100 or so in any of these other ones.

When you decide to cut bait with an investment (at a loss) with the intention of "watching" the same asset for a better entry point, I assume you need to be mindful to wait 30+ days to avoid wash sale rules, correct? Dumb question and I believe the answer is yes.

Just got a text from my 66 year old MIL telling me to buy doge. This was in her text............"So apparently Elon Musk says he will be pushing doge on SNL this weekend and they are predicting a big increase"

irish pete ag06 said:

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LOYAL AG said:

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FJ43 said:

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He preaches this non stop.

Most active traders that lose a lot of money. Make excuses in their heads for holding onto a stock that breaks the 8/21day. U can always revisit

— Scott Redler (@RedDogT3) May 4, 2021

---

I'll readily confess to violating this regularly. Sometimes it's just not wanting to book that loss and sometimes I have legit reasons like not being able to pay close enough attention. This is probably my biggest emotional weakness though and definitely the one thing I'm most focused on as a trader.

---

Just to be clear. Is he talking about the 8 day EMA crossing the 21 day EMA?

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From the man himself:

SHOP model T play... I might go with a vertical out a couple weeks. targeting SP back to 1200.

Fairfield_Ag said:

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When you decide to cut bait with an investment (at a loss) with the intention of "watching" the same asset for a better entry point, I assume you need to be mindful to wait 30+ days to avoid wash sale rules, correct? Dumb question and I believe the answer is yes.

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I am sure you may get a better answer, but I don't care about the wash sale rule in most cases as a trader. I make a lot of trades a week and don't concern myself if I lost on a trade in the past 30 days.

I only reenter if the technicals align and upside is there. It is gains that will be offset by a loss or reduced gains until the loss is covered. Either way I feel my job is to net gains in whatever stock or position that it ripe at the time.

Keep in mind it is a tax implication on gains/losses not like a PDT rule where you get locked out or something.

Understood. Using Merrill Edge (assuming it's this way with all platforms), if I sell ABC stock at a $100.00 loss, and then buy it back three weeks later at a lower price, it tacks on that $100 loss onto my new cost for the ABC stock. It's as if I never sold it, base price is still at the higher amount. That's why I ask.

Thanks!

SPY back testing intraday trend line

I added a few weekly SPY 415P here. May trade them away at close (for loss with run up) but not liking the failure of the trend line.

LOYAL AG said:

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irish pete ag06 said:

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LOYAL AG said:

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FJ43 said:

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He preaches this non stop.

Most active traders that lose a lot of money. Make excuses in their heads for holding onto a stock that breaks the 8/21day. U can always revisit

— Scott Redler (@RedDogT3) May 4, 2021

---

I'll readily confess to violating this regularly. Sometimes it's just not wanting to book that loss and sometimes I have legit reasons like not being able to pay close enough attention. This is probably my biggest emotional weakness though and definitely the one thing I'm most focused on as a trader.

---

Just to be clear. Is he talking about the 8 day EMA crossing the 21 day EMA?

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From the man himself:

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Thanks!

Man you could make a great visual using the Ripster EMA clouds using his 8/21 method. I think I'll do that and report back.

FJ43 said:

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I added a few weekly SPY 415P here. May trade them away at close (for loss with run up) but not liking the failure of the trend line.

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adding calls here, lol. this is overdone imo, VIX is rolling over.

BREwmaster said:

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FJ43 said:

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I added a few weekly SPY 415P here. May trade them away at close (for loss with run up) but not liking the failure of the trend line.

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adding calls here, lol. this is overdone imo, VIX is rolling over.

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I've got both sides. Heavier on calls but a week out. Puts lighter for 5/7

The more I watch this Adam fella, the more impressed I am. How many here have the discipline to see they made a couple bad trades and would decide to just walk away for the day?

When you see these people it's usually good to watch and learn from them.

Good for 60p, only banked 7p.
I'm blind today. Going to just watch.

Annoyed. pic.twitter.com/L3QHLBIRcB

— Adam Set (@Adaamset) May 4, 2021

McInnis 03 said:

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The more I watch this Adam fella, the more impressed I am. How many here have the discipline to see they made a couple bad trades and would decide to just walk away for the day?

When you see these people it's usually good to watch and learn from them.

Good for 60p, only banked 7p.
I'm blind today. Going to just watch.

Annoyed. pic.twitter.com/L3QHLBIRcB

— Adam Set (@Adaamset) May 4, 2021

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I'm too stubborn. Too often.

#LEARNINGTHEHARDWAY

Gonna be fun to watch the bulls and bears fight it out around the 4150 line for the final 30 mins.

J.P. 03 said:

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Gonna be fun to watch the bulls and bears fight it out around the 4150 line for the final 30 mins.

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TRIN and TICK say the bulls are warming up, as does the hedgies carry trade.