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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Old 07-08-2021, 10:28 AM   #10501
displacedinMN displacedinMN is offline
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What is happening today?

Worry or profit taking?
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Old 07-08-2021, 10:28 AM   #10502
MTG#10 MTG#10 is offline
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Good thing I sold what I had in AMC yesterday
YEAH GOOD THING NOW HUH MOTHER****ER???
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Old 07-08-2021, 10:35 AM   #10503
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YEAH GOOD THING NOW HUH MOTHER****ER???

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Old 07-08-2021, 10:39 AM   #10504
KChiefs1 KChiefs1 is offline
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KChiefs1, are you still considering selling?

Hell no I’m hanging on this rocket ship to the moon!

I might sell if it got down to $30 but I’m still holding.
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Old 07-08-2021, 10:39 AM   #10505
KChiefs1 KChiefs1 is offline
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Good thing I sold what I had in AMC yesterday



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Old 07-08-2021, 10:46 AM   #10506
lewdog lewdog is offline
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What is happening today?

Worry or profit taking?
The market is extended from the 50 day moving average by a decent amount as indexes hit all time highs between last week and this week.

10 of the past 13 days have been green.

I worry what building some of you will jump off of when the market “corrects” by more than 2-3% in a short time. A 10% correction may kill some of you, let alone a 25-50% bear market.
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Old 07-08-2021, 11:00 AM   #10507
Peter Gibbons Peter Gibbons is offline
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Hell no I’m hanging on this rocket ship to the moon!

I might sell if it got down to $30 but I’m still holding.
I don't mean to be flippant, but are you at all worried that it will try to "go to the moon" via shortcut path through the center of the Earth? At this point, that seems like a very realistic possibility for a stock where the price is artificially high and not supported by good fundamentals. For your sake, I hope that does not happen.
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Old 07-08-2021, 11:03 AM   #10508
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What is happening today?

Worry or profit taking?
It's a whole bunch of stuff. Recovering well and my crypto barely moved while BTC got ****ed. And AMC stood strong.
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Old 07-08-2021, 11:06 AM   #10509
lewdog lewdog is offline
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It's important to follow where the market is in relation to moving averages. There will be red days but the entire trend is still up. It's simply small corrections/profit taking that you see. Here's the SPY chart since March to help explain. Blue line is 50 day moving average.

Short term changes will NOT be linear. Short term changes also only matter to traders. If you aren't a short term trader, check the trend 1-2x a month and leave it be.


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Old 07-08-2021, 11:26 AM   #10510
DaFace DaFace is offline
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I worry what building some of you will jump off of when the market “corrects” by more than 2-3% in a short time. A 10% correction may kill some of you, let alone a 25-50% bear market.
Relatedly, my worry is that we have an entire "generation" of "investors" who have learned that fundamentals don't matter and that big risks are better than sound strategy. That works somewhat in a long-term bull market, but if things go south, the first things that go with it are going to be those risky investments.

I'm rooting for the AMC guys, but a stock like that is always potentially 24 hours away from dropping into the single digits.

Last edited by DaFace; 07-08-2021 at 11:31 AM..
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Old 07-08-2021, 11:34 AM   #10511
KChiefs1 KChiefs1 is offline
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I don't mean to be flippant, but are you at all worried that it will try to "go to the moon" via shortcut path through the center of the Earth? At this point, that seems like a very realistic possibility for a stock where the price is artificially high and not supported by good fundamentals. For your sake, I hope that does not happen.

I worry everyday but my goal is to be a multi-millionaire & this is my shot to do it. It’s been a hard couple of months.
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Old 07-08-2021, 11:36 AM   #10512
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I worry everyday but my goal is to be a multi-millionaire & this is my shot to do it. It’s been a hard couple of months.
Righteous.
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Old 07-08-2021, 11:41 AM   #10513
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The market is extended from the 50 day moving average by a decent amount as indexes hit all time highs between last week and this week.

10 of the past 13 days have been green.

I worry what building some of you will jump off of when the market “corrects” by more than 2-3% in a short time. A 10% correction may kill some of you, let alone a 25-50% bear market.
I've already got a building picked out. It's really more of my back deck, because it's not very high and it goes onto a soft surface. No sense in hurting myself.
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Old 07-08-2021, 11:46 AM   #10514
lewdog lewdog is offline
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Relatedly, my worry is that we have an entire "generation" of "investors" who have learned that fundamentals don't matter and that big risks are better than sound strategy. That works somewhat in a long-term bull market, but if things go south, the first things that go with it are going to be those risky investments.

I'm rooting for the AMC guys, but a stock like that is always potentially 24 hours away from dropping into the single digits.
Yes and No. This happens with every extended bull market. Happened in the dot.com crash too. New investors riding the gambling wave while making money. Seems pretty easy until it's not. Retail investors without risk management strategies will get crushed. Lots of lessons are learned this way but it is amazing that people don't study the past to avoid the same mistakes.

I find it fascinating when people have a stock that is currently down significantly for them, say 20%+. They continue to convince themselves that it's only temporary. Meanwhile the stock market indexes are setting new highs. If you are holding a stock that is doing poorly in a bull market, what do you think will happen in a correction? Does it have a chance to go back up? Sure. But the percentages say it's a losing position this far into a bull market.

And most new investors pay no attention to the indexes, but what they really should be doing is comparing their gains TO the index. If after 3-6 months you aren't beating the index in a bull market, you need to re-evaluate what you're doing because passive investing would have gotten you further ahead.
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Old 07-08-2021, 12:38 PM   #10515
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YEAH GOOD THING NOW HUH MOTHER****ER???
Meh price has been stagnant. Made quite a bit of profit. Time to move on from meme stocks.
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