Wow. Remember WISH?

Down now to $0.69. Its share price is worth less than a candy bar. ATH around 32.

Was shocked when i saw that this morning.

Hope everyone is having a great weekend.

30k I'll repeat what others have already said, keep posting because I am learning tons from your posts still. This goes for FJ, Prog, Farmer, etc(y'all know who you are)

Just finished working the herd and now they're ready for cooler weather. One went in bullish but left not bullish. Weather is changing n Texas. I hope Germany has plenty of wood for winter.

BREwmaster said:

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$30,000 Millionaire said:

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I also want to call attention to respecting stops.

I attempted to long TSLA this morning. The setup was there for it. Bullish open that gap filled. I got long at just below 223 on the gap fill and then it spiked very quickly to 225+. I thought I was on my way and set a stop below support of 219 (stop 218). It didn't work, but TSLA closed the day at 204! While it sucks to take a paper cut, I'd much rather take that paper cut immediately on invalidation instead of bagholding. Happened to me twice on UPRO today, but you know, because I was disciplined with it and didn't go ape shirt on risk on a Friday after a huge move, it was a minor set back.

Gaining $50 on your account is better than losing $5,000.

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worth a bump, cheers 30k

Have a great weekend all! Ags won't lose run outta time this weekend! zero chance of it

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FIFY

If you want my feedback:

1) You're probably over trading.
2) anything after 2pm central has to be considered a lotto or for the next day. The moves are most severe from 8:30 to 8:45 and 2:45 to 3:00

A question to ask yourself before you put any trade on, very simply is "what kind of day is it today?" Answers include: range bound action, trend, chop, etc. avoid the chop.

bmoochie said:

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Curious if anyone saw this and what it would mean?? What semi company's are based in china that this could be? Or do we think this could be a nothing burger?

What happened in China yesterday is massive. I haven’t seen anything as big in my lifetime. Basically Biden said to American engineers working in China in the semiconductor to either resign or be ready to lose their American citizenship. Everyone resigned. Industry collapsed 🤯

— abhishek (@abhishek_tri) October 15, 2022

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this strikes me as a nothing burger. China probably has 2 or 3 for every 1 U.S. engineer working over there that can do just the same job or knows how to. They are masters of copying.

and everything Biden does to China or appears to, is completely calculated and is coordinated with China. They helped put him in office.

Mixed feelings about CLOV. Bought a house with the short squeeze, but lost more than I'd like hoping to catch lightning in a bottle twice.

Charismatic Megafauna said:

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1) definitely
2) those time stamps were eastern so the last trade was at 1:45 cst, but point taken

I really have a hard time getting a feel for what the day's trend is. I lean heavily on mancinis levels and honestly probably choose my bias for the day using a combination of my permabullishness and Hairy (who seems to be pretty permabull), unless we're at/near an upper channel/trend line.

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If following Mancini, he is always saying only 15% of trading days are trend days, the rest is chop. Gotta figure out how to trade the chop level to level like he preaches or stay out of the chop.

BaylorSpineGuy said:

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Was reviewing some long term charts today. Have a look at NASDAQ over 25 yrs or more. It made an ATH in May 2000 (around 3800). It didn't eclipse that high again until 2013.

Buy and hold (and add to a position) is an entirely legitimate approach), but you have to have a reasonable time horizon and know full well the investment may not come to full fruition for extended periods of time.

On another note, looks like many stocks at long term support lines now with engulfing bearish candles in last couple days. May be primed for good drop into low volume gaps and push us down fairly quickly this week. A most interesting week upon us!

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The trick is not to buy at an ATH. We may be going lower, but we're certainly not at an ATH atm. I suspect long term positions taken now won't take 13 years to break even.

I suspect that companies will take advantage of this negative sentiment in the markets when they report this month. They all know their stock will not be rewarded if they beat for very long, so I think they'll puke all the bad news in their guidance. This will lower future earnings estimates that they can surpass when the environment improves. Look at AMD's pre-announcement. I think they'll rip the band-aid off and swallow their medicine now while positioning themselves to benefit in future ERs. We'll see if I'm right. For the gamblers in here, I'd gamble with puts for earnings this month.

BaylorSpineGuy said:

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Suspect you'll be right. Helene Meisler posted a chart on TWTR yesterday of SOX. It took 19 yrs from 2000 to make a new high. And they basically went parabolic at that time and have since come back into orbit, but it speaks to what you were saying (and AMD especially).

Microchips have been one of the most important advances in our lifetimes, and even SOX took forever to recover from previous ATH's.

Even oil has never eclipsed the price it found in the 1860s! Lol. New tech will come and identifying sector rotation will be essential to stay profitable in the coming decade!

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The decade timeframe is something I no longer think as true. I have no data to back this up, but it's something that I've come to believe by almost 3 decades in the market.

The market has evolved and time frames of bull/bear/recovery times are no longer comparable to the 80's, 90's, 00's, etc. I grew up in an era that my parents bought Series EE bonds with every check and wasn't introduced to stocks until I went into the industry after graduating from A&M. Now fast forward, most young people have been raised by parents that are in the market either actively or passively (401ks, IRAs). The pool of people that put money into the market with each check has grown significantly and will continue to grow each year. How many people do you know that has stopped contributing to their 401Ks vs. people that have maxed their contributions out to take advantage of these depressed prices? This is why I disagree with your 'decade' time horizon. When the fed just says they are pausing rate increases to evaluate the effects of their aggressive rate hikes, then I think the market explodes because there is a ton of money on the sidelines that will have to be put to work. That pile of cash grows with every paycheck via 401Ks,

TL;DR version: Selloffs will increase their intensity, but recoveries will as well. Like I've posted in the past, find 3-5 technical indicators that you favor and stay disciplined. This will make you eliminate gambling/guessing and you can can profit in whatever direction the market is in.

Maybe XOM, CVX and OXY will pop tomorrow. Can't wait 'til the SPR Releases are completed.

"You ain't seen nothing yet" ~ Bachman-Turner Overdrive (BTO)

Quote:

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NY Post today. "Biden wants high gas prices - he just doesn't want voters to notice" By Post Editorial Board, October 16, 2022 6:05pm updated

"Team Biden displayed some rare honesty Thursday, essentially admitting the prez is fine with high gasoline prices he just doesn't want them to hurt Democrats in the midterms."

"Rather than deny Saudi claims that Washington had only asked for a month's delay of OPEC+ plans to cut oil production, National Security Council spokesman John Kirby confessed: "We presented Saudi Arabia with an analysis" that showed OPEC "could easily wait" until its next meeting before its planned reductions. And that next meeting is Dec. 4, after America votes."

"Our own Michael Goodwin rightly and thoroughly flagged one outrage here: This is a clear case of asking a foreign power to interfere in US elections, exactly the charge Democrats used to impeach President Donald Trump. So let us beat home another obscenity: This is further proof that no amount of American suffering will end President Joe Biden's war on gas and oil."

"The only difference is that he used to be open about it. In 2020, when gas prices were low under Trump, Biden publicly "guaranteed" he'd completely "end fossil fuel." Debating Trump, he said he'd "transition" the oil industry to death. As late as this May, he cheered the soaring gas costs clobbering motorists: "We'll be less reliant on fossil fuels when this is all over."

"I did this" stickers with President Biden have been popping up on gas station pumps around the country as gas prices soar."

"And, for all his claims to be doing everything in his power to bring prices down, he hasn't relented in his war on domestic production. It's all been temporary gimmicks, like depleting the Strategic Oil Reserve and asking the Saudis to wait a single month, plus dubious moves like reaching out to Iranian and Venezuelan tyrannies to boost US imports."

"It recalls then-President Barack Obama's open-mic 2012 oopsie, "confidentially" telling Russia's Dmitry Medvedev to "tell Vladmir" he'd have "more flexibility" to give Putin what he wanted once the election was over. Obama plainly feared telling Americans his real views; Biden's loud complaints about the Saudis now fit the same script."

"Soaring energy prices are one of voters' top concerns, yet Biden's only interest is in snowing the public with gimmicks like a one-month OPEC+ delay on cutting supplies and pretending that rising prices are all Putin's fault."

"The president and his entire party won't abandon green extremism, but try to deceive the nation about it. (Heck, they just labeled their huge green-energy corporate-welfare bill "The Inflation Reduction Act" when it did nothing to cut inflation.) That leaves any American who wants energy prices to stop soaring no choice but to vote for every Republican in sight in November's elections."

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